The day of “one size fits all” is long gone. And organisation must transform themselves on a parallel track to accommodate these new consumers. The new consumers are most definitely a new breed and need to be addressed in a new way. And thus, for Marketers to get attention of these consumers they have to look for different and unique methods. Marketers have to address new consumers directly and give attention to their needs. As organisations grows to understand consumers better creating exciting satisfying experiences, even experiences will soon become commodity. The element of change is absolute given and learning is a continuous action. These new consumers are having an impact on the marketing strategy. Thus, resulting in Organisations to adopt new ways and go beyond just engineering experience.
Who are new consumers?
The new consumer is an individual. Joel Winter, senior vice president of the marketing of Kraft Foods, put it very nicely. “The mythological homogeneous America is gone, we are mosaic of minorities.”
The new consumer will check everything, they will compare the products and they want to understand what the advertisers are saying. Television, Internet, computers, games and cinema are daily part of their lifestyle. (paujen and O’dell,1997)
The consumers involvement which includes customer control and participation (bateson,1989) and level of contact (chase,1978) will have an impact on the individual’s attitudes towards motivating behaviour to achieve outcomes.
The new consumer is independent. The new purchaser is free. Simple access to unlimited measures of worldwide information has enabled purchasers. They are no more subject to getting data from their own particular contacts or from sales representatives; they can discover data for themselves. A CEB study uncovered that among B2B clients, 57% of procurement choices were ordinarily made before a client even conversed with a supplier. In the event that business people are no more the principle purpose of contact with clients, in what manner would we be able to convey messages to them?
The new consumer is involved. The consumer has urged a very welcome trend towards the vernacular in commercials. Consumers are free to play active role in the sales and production process. They only need to seek information about the products in which they are interested in and then use technology to their advantage. This has led advertisers to promote their products with unique ways, which is real and less cosmetic. For example, kelloggs are all running tv campaings rooted in humanity, they are brimming with behaviourial insights that connect their products to real life. (Ress,1999) Nike too, seems to have abandoned its high octane celebrity fests in favour of parochial vignettes. Its new ads ask “ordinary” people “what are you getting ready for?” And Toyota, message ends with a riff from ‘Everyday People’
The new consumer is more informed. With access to unprecedented amounts of information, knowledgeable consumers can make more informed decisions. (CK Prahlad, V ramaswamy, 2004) Consumers can also access information on firms, products, technologies and performance and price from all around the world. “Thematic Consumer Communities” in which individual share ideas and feelings without regards for geographic or social barriers, are revolutionizing emerging markets and transforming established ones. As people learn, they can better discriminate when making choices as they network, they embolden each other to act and speak out.
The crux of marketing strategy is to give business an advantage in a competitive market. The success of implementing strategy is measured in economic terms by: sales volume, market share, profits, listed stock prices etc. Over the decade marketing disciplines has experienced changes in terms of its dominant focus, thought and practice. At each stages of it evolution the discipline has taken a new course by bringing to light pertinent area of marketing and generating important insights that continues to shape further research. ( V. Kumar , Richard and Susan, 2013)
Strategy to Sell Product to Informed Consumers
As the consumers have changes a lot and they seem to know a lot more than ever before about products and services. In this reversal of traditional customers engagement, the paradigm of teaching your customers about what you do has flipped and now customers walk through the door knowing exactly what they want and what they should pay for it. Which leads us to the question, what is driving the change? Are people getting smarter or there are other forces that are forcing the change? ( Daniel Newman,2014)
ENTER THE DIGITAL ECONOMY AND THE INFORMED CONSUMER
In digital economy people want to do their own research and exploration for the product and services they want to buy. While some may propose this is a hunch, it is definitely not. This pattern is settled in hard information that says purchasers are regularly somewhere around 70 and 90 percent of the path through the business process before they ever draw in a merchant, as indicated by exploration firm Forrester. (Daniel Newman,2014)
As a rule the purchaser endeavors to abstain from drawing in the merchant all together, and if the sellers would coordinate by permitting a whole exchange to happen online then they would. What’s more, regularly this on the web, modern commercial centre is as of now in movement. Today we purchase houses, autos, innovation and other extravagance things with a couple mouse clicks. These things are immediately handled and conveyed by a man however who knows, some time or another soon they may be bundled by a robot and conveyed by an automaton. This purchasing conduct isn’t constrained to simply top of the line things, individuals are swinging to innovation to buy regular items like foodstuffs, family unit merchandise and stimulation and have them conveyed to their entryway or their gadget without even a delay. In reality, this previous year one in five buyers never left the lounge chair to finish their vacation shopping. I hypothesize this number will ascend in the coming year. With the computerized world keeping on developing and buyers depending more on it for buys, little organizations will need to grasp these progressions and make some of their own. All things considered, there is uplifting news . The advanced economy puts little business on more level of a playing field with their enormous partnership partners. It takes into account the fast advancement of addressing client needs through computerized, social and trade stages. Think what EBay accomplished for little e-tailers 10 years prior and how Amazon ascended from namelessness to end up the biggest retailer on the planet. While these stories may be the few, they are workable for all in light of the fact that what these organizations did was exploit what is conceivable.
STRATEGIES THAT SMALL BUSINESS NEED TO IMPLEMENT AGAINST NEW CONSUMERS
-Know your customers
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