NEED FOR DELIGHT Consumer Behaviour

The millennium is witnessing dramatic changes in the market place, change in lifestyle of the consumers and a radical revolution in information technology. The behaviour of the new generation customer has seen drastic changes. His expectation has increased, he has become more knowledgeable, is aware of multiple options to satisfy his needs, and switches over to newer brands for more value for his money. There are increasing number of competitors, both domestic and global, offering higher-value-added products and processes through innovation. This has led to a change in the marketing mix. The consumer has greater purchasing power, he is more educated, uses ultra modern tools-E-commerce and E-business to get more information about products, prices, features, attributes and can make a better choice.

  • The customer has become more demanding.
  • There is greater economic liberalization.
  • There is increasing competition.
  • The costs are rising.
  • There are lower margins.
  • Markets are splintered.
  • Greater choice of customers.

The marketing concept is being followed in its entirety.

  • All marketing efforts are directed at the customer.
  • Companies allow customers to dictate their specifications and standards.
  • Marketers track customer’s needs continuously and respond to them instantly.
  • Corporate strategy is aimed at delivering greater customer value than their rivals.

Figure shows the customer surrounded by the functional areas of management,i.e., marketing, finance, production and personnel. All the functional areas are working together in an integrated manner, following the marketing concepts, and this leads to customer driven mission, customer-driven vision, customer-driven rewards, customer-driven appraisals, customer-driven goals, customer-driven strategy and customer-driven values. All activities are centered round the customer and the customer is supreme.


All rights reserved © 2018 Wisdom IT Services India Pvt. Ltd DMCA.com Protection Status

Consumer Behaviour Topics