Exam 4: Challenges of a Changing Marketing Landscape

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Fundamental market changes are calling for new ways of thinking for most organizations. In order to adapt to these changing demands and expectations, managers should learn how to interact in a more resilient manner with consumers and other stakeholders. But more importantly, managers need to intentionally change their way of thinking according to the particular context and address strategic challenges in more resilient ways.

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At the organization level, it is reasonable to talk of social media as disruptive technology when they are considered as offering a significant impact that will substantially alter the structure, processes, and practices of the organization. In a social media storm context, the social media disruption stems from a shift from "one-to many" distribution to a "many-to-many" configuration, where customers are both the providers and consumers of content (Kaplan & Haenlein, 2010)

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Sensemaking of the market and interaction with it, as well as the management thereof, depends on individual and cultural cognitive framing, also called mental models, mindsets, conceptual heuristics, or tacit assumptions, which at any given time structure how we interpret and react to all incoming information (Rydén et al., 2015).