Written By, Prof. Hitesh Kumar Kar
Meta-marketing is “the synthesis of all managerial, traditional, scientific, social and historical foundations of marketing.” The term was first coined by E.J. Kelly while discussing the issue of ethics and science of marketing.
Thus, this Marketing is an attempt to widen the horizons of marketing by covering various interrelated aspects. The web allows us to match producers’ desire for economies of scale with consumers’ desire for a variety of choices to satisfy a set of needs.
Thus we can have a meta market for a wedding (event) that includes honeymoon recommendations, sources for engagement rings, and wedding gowns. Meta market is thus, a place, where everything connected with a certain market can be found. Let’s say a car selling in a Meta market would be a website. It sells cars but you will also find car parts there. Add-ons for cars, colors for cars, and mechanic’s reviews are also included.
Meta Markets :
An online website such as the Maruti Suzuki website for second-hand cars, which promotes the purchase of physical goods (Maruti Suzuki cars), is known as a meta market. Let’s take a look at the automobile industry. Whatever company it may be, an automobile company would involve suppliers, channels, service providers, and so forth.
Thus the meta market will bring all these buyers and sellers online in one place for one purpose only. Rather than giving multiple products to one customer, the meta market brings together different customers of the same Product.
It can also be said that the combination of various entities within the same industry can be known as a Meta market. The meta markets are on the rise because of the increase in accessibility of the internet on both computers and smartphones. Almost every individual in urban areas has access to the computer and the internet.
There are plans being made by the Indian government to have an internet outlet in every 2 Km of India. This will make the internet available to even the rural population. The factor contributing most to meta markets is the convenience of users. Nowadays you can make purchases in one click.
Meta Markets vs. Traditional E-commerce Platforms
However, what if instead of going on eBay or Amazon which offer tons of different options, you want to go for the website that is specific to your niche itself? That’s a meta market. The meta-market helps facilitate the movement of physical goods through online mediums.
Take the example of 99acres.com – a real estate portal. It brings together buyers and sellers of real estate. Yatra.com brings together the travelers and the travel providers. Shaadi.com brings the marriage service providers and the groom/bride family together. So on and so forth.
Thus both Yatra.com and 99acres.com are meta markets for travelers and real estate respectively. Meta marketing is an approach to the study of marketing and its relationship to every aspect of life. It focuses on all social, ethical, scientific, and business experiences in marketing. Therefore, it establishes a body of knowledge based on the integration of every facet of experience with the human personality.
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