Posted: October 19th, 2023

The development of new marketing strategies for the maritime industry

The development of new marketing strategies for the maritime industry

The maritime industry is one of the oldest and most important sectors of the global economy. It encompasses a wide range of activities, such as shipping, port operations, shipbuilding, offshore services, marine engineering, and tourism. According to the International Chamber of Shipping, the maritime industry transports about 90% of world trade and employs over 1.6 million seafarers (ICS, 2020).

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However, the maritime industry also faces many challenges and opportunities in the 21st century. Some of these include:

- The impact of climate change and environmental regulations on the sustainability and profitability of maritime operations
- The emergence of new technologies and innovations that can enhance the efficiency, safety, and competitiveness of the maritime sector
- The changing consumer preferences and expectations that demand more transparency, accountability, and social responsibility from maritime businesses
- The increasing competition and globalization that require more collaboration, differentiation, and diversification of maritime services

These factors imply that the maritime industry needs to adopt new marketing strategies that can help it adapt to the changing market conditions and customer needs. Marketing is the process of creating, delivering, and communicating value to customers and stakeholders. It involves identifying and satisfying customer needs, developing and promoting products and services, building and maintaining relationships, and creating and enhancing brand image and reputation (Kotler et al., 2019).

Some of the new marketing strategies that the maritime industry can implement are:

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- Digital marketing: This refers to the use of digital channels and platforms, such as websites, social media, email, mobile apps, and online advertising, to reach and engage with potential and existing customers. Digital marketing can help the maritime industry increase its visibility, accessibility, and credibility online. It can also help it collect and analyze data on customer behavior, preferences, and feedback. Digital marketing can enable the maritime industry to create personalized and interactive content and offers that can attract and retain customers (Chaffey et al., 2019).
- Content marketing: This refers to the creation and distribution of valuable, relevant, and consistent content that can educate, inform, entertain, or inspire customers. Content marketing can help the maritime industry showcase its expertise, experience, and achievements in the field. It can also help it address customer pain points, questions, or concerns. Content marketing can include various formats, such as blogs, videos, podcasts, infographics, case studies, white papers, webinars, or newsletters. Content marketing can help the maritime industry build trust, loyalty, and advocacy among customers (Pulizzi et al., 2017).
- Green marketing: This refers to the promotion of products or services that are environmentally friendly or have a positive impact on the environment. Green marketing can help the maritime industry demonstrate its commitment to sustainability and social responsibility. It can also help it appeal to customers who are environmentally conscious or concerned about climate change. Green marketing can involve highlighting the environmental benefits or features of products or services, such as low carbon emissions, energy efficiency, waste reduction, or recycling. Green marketing can also involve supporting environmental causes or initiatives that align with the maritime industry's values and goals (Leonidou et al., 2017).

These are some examples of new marketing strategies that the maritime industry can adopt to enhance its performance and competitiveness in the current market scenario. These strategies can help the maritime industry create value for its customers and stakeholders while also achieving its own objectives.

References:

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Chaffey D., Ellis-Chadwick F., Mayer R., Johnston K. (2019). Digital Marketing. Pearson Education Limited.

ICS (2020). Shipping Facts. Retrieved from https://www.ics-shipping.org/shipping-facts

Kotler P., Keller K.L., Brady M., Goodman M., Hansen T. (2019). Marketing Management. Pearson Education Limited.

Leonidou C.N., Leonidou L.C., Kvasova O., Christodoulides P. (2017). Drivers and outcomes of green product innovation: evidence from an emerging economy. Journal of Business Ethics 140(2), 387-402.

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Pulizzi J., Rose R., Barrett N.D. (2017). Killing Marketing: How Innovative Businesses Are Turning Marketing Cost Into Profit. McGraw-Hill Education.

Tags: Dissertation topics, Marine, Maritime, The development of new marketing strategies for the maritime industry