A CONCEPTUAL STUDY ON EXPERIENTIAL MARKETING: IMPORTANCE, STRATEGIC ISSUES AND ITS IMPACT

Veto Datta

doi:10.29121/granthaalayah.v5.i7.2017.2105

Authors

Dr. Veto Datta Assistant Professor, Sinhgad Institute of Business Administration and Research, Kondhwa-Saswad Road, Near PMC Octroi center, Kondhwa (bk), Pune-48, India

DOI:

https://doi.org/10.29121/granthaalayah.v5.i7.2017.2105

Keywords:

Experiential Marketing, Impact, Importance, Strategic Issues, Suggestions, Recommendations

Abstract [English]

Traditional marketing has been changed with a new approach to marketing called Experiential Marketing. Experiential marketing is also known as "engagement marketing," "event marketing", "participation marketing," or "live marketing". Traditional marketing views consumers as rational decision-makers who care about functional features and benefits. In contrast, experiential marketers view consumers as rational and emotional human beings who are concerned with achieving pleasurable experiences. It is a kind of is a marketing strategy that involves customers directly and inspires them to participate in the development of a brand. This transformation is showing no transformation of slowing down; more and more marketers are moving towards creating experiences for their customers. Therefore experience is an essential element of a today’s customer. Experiential Marketing plays an important role in influencing customer behavior and creates a feeling of satisfaction and loyal base .Thus it’s a very important concept to study. The research article studies various benefits and strategic issues of experiential marketing, also suggestion are drawn therefrom.

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