Marketing & business are changing, Marketing Management

Q.How marketing & business are changing?

Ans.: Companies should adopt a clear vision of the right direction in which to take their brands and challenged marketing convention via product innovation, promotion or some other phase of marketing .The market isn't place what is used to be .It contain new behaviors, new opportunities & always new challenges.

 

(i)Changing Technology -The digital revolution has made an informative age .The information age promises to lead to more proper levels of production more targeted communications and more relevant cost.  In nowadays business is perform over electronic networks, external internal and the Internet.

(ii)Globalization- Advancemans of technological in transportation shipping &communication have made it simple for companies to market in other countries and simpler for consumers to buy services & products from marketers in other countries

(iii)Deregulation - Several countries have deregulation industries to make greater competition.  In India, the domestic airline industry have been raising very speedily after deregulations.

(iv)Privatization- Several countries have converted public companies to private ownership and management to amplify their efficiency.

(v)Customer Empowerment -Customers increasingly expect service & higher quality. They desire more convenience. They may get extensive product information from the Internet & other sources.

(vi)Customization- Company is able to create individually differentiated goods whether ordered in person on online or on phone. The company also has the ability to interact with each customer personally.

(vii)Heightened Competition - Brand manufacture surfacing extensive competition from domestic & foreign brands is resulting in growing promotion price & reduction in profit margins.

(viii)Industry Convergence -Industry boundaries are blurring at an amazing rate as companies are recognizing that new opportunities lie at the intersection of 2 or more industries. For instance: Pharmaceutical companies are now adding up the biogenetic search capacities for the purpose of formulate new drugs, new foods, new cosmetics.

Posted Date: 10/15/2012 3:37:54 AM | Location : United States







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