Customers today perceive fewer real product differences and show less brand loyalty, and they are becoming more price and quality sensitive in their search for value.
The once loyal consumers who used to swear by brands earlier are now open to switching, dating and even flirting with other brands - all thanks to modern trade and this is posing a serious problem with conventional marketing.
Marketeers have to adopt to new strategies considering following capabilities which consumer did not have earlier :
• A substantial increase in buying power.
• A greater variety of available goods and services.
• A great amount of information about practically anything.
• Greater ease in interacting and placing and receiving orders.
• An ability to compare notes on products and services.
• An amplified voice to influence peer and public opinion.
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