Compose a 250 words assignment on m chap 3
Strategic Issues in Marketing al Affiliation Strategic Issues in Marketing What is the issue? What is the source of your information?
The Impacts of Consumer Behavior in Marketing is one of the issues currently affecting the marketing activities in the world. This is in relevance to the changes in consumer behavior, tastes as well as preferences. This information is retrieved from http://writer.academia-research.com/orders/vieworder/orderid/1292282 as the major literary source.
2. How does the issue affect the strategic Marketing of a company? Be sure to use examples.
It is of crucial significance to note that consumer behaviors is always critical in controlling the type of marketing strategies employed by different companies in various measures, as well as, ways. Both small scale and large scale businesses may always employ certain approaches as well as techniques relevant to changes in consumer behavior (Dietrich and Media, 2015)s. In marketing, businesses always need to acquit themselves with certain information from their consumers including their locations, what they want, as well as who their real consumers are. Changes in consumer behaviors always make businesses to conduct thorough researches, as well as, surveys in order to know what the consumers want. For example, in case they fail to satisfy the changing consumer interests and needs, marketing of such products may be compromised and can easily fail. As such, the businesses always conduct surveys and research through sales forecasts, internet researches, as well as, market sensing (Dietrich and Media, 2015). This gives them a competitive advantage in the marketing spectrum as they deeply understand the needs of their customers, failure to which, can lead to failure of the companies.
3. How does the economy of US affect the issue
It is important to note that the issue of consumer behavior is also affected by the economy of the United States in certain ways. For instance, if the economy strengthens, the consumer demands and tastes increases (Rao, 2010). However, if the economy faces some crises, the consumers also feel these economic crises, thereby limiting their consumption demands.
4. How does the legislation affect the issue?
It is of critical significance to note that changes in consumer behavior are not influenced by any legislation. This is because consumer behaviors are majorly dictated by their own personal interests, tastes and preferences. As such, it is important to note that consumer behavior can affect the market in various ways.
5. What is your personal opinion on the issue?
According to my opinion, consumer behavior always controls the markets in various ways. as such, the changes in consumer behavior can always make some companies to experience big losses if they do not device effective marketing strategies to approach the situations occasioned by the changes in consumer behaviors. Therefore, it is always prudent that companies conduct regular surveys, as well as researches on how to best satisfy the needs and demands of their consumers. This is important for such companies to remain economically relevant and competitive in the world marketing fronts.
References
Dietrich, R. and Media, D. (2015). “The Effect of Consumer Behavior in Marketing of Organisation”. Retrieved from http://smallbusiness.chron.com/effect-consumer-behaviour-marketing-organization-17934.html on 4th July 2015.
Rao, S. R. (2010). “Consumer Behavior and Marketing Implications”. Retrieved on 4th July 2015 from http://www.citeman.com/8609-consumer-behavior-and-marketing-implications-2.
