Wednesday, January 12, 2011

What is the New Reality?

    The articles presented to us brings together some very interesting ideas. Webster accounts that new age media and technology is a massive factor in determining the success of ones business. Webster brings to attention very important thoughts in his article.  In the 21st century, consumer empowerment is much stronger than ever. With technology being at it's height, consumers are now able to direct their attention towards the needs and their desires through various sources. Webster states in his article that it's not just about "exchange and satisfaction" anymore. Consumer "thinking" has now changed the ways they purchase. When consumers have more power and the economy changes, consumption behavior changes!
   Webster also displays his idea on how the standard definitions of "marketing" and "selling" are used in interchangeable ways. This, in turn creates businesses who only focus on the short term gains rather than long term benefits.
    Haeckel discusses the "post-industrial manager" in his article which draws connections to Websters article. Haeckel states that there is a new age form of business going on and that changes occur because the minds of consumers have also changed.
    In order for businesses to competitively and successfully compete against one another, they must  understand the thoughts of consumers as a whole and the purchasing powers they possess. With everything changing, including the economy, consumers are much less seldom to make impulse buys and will now purchase products because of specific needs (price being a massive determinate). Businesses must understand the surroundings of specific markets groups and understand what product will most benefit the consumer in the long run and for their specific needs as individuals.

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