Skip to main content

Changing consumer behaviour

Consumer behavior is constantly evolving, driven by interlinking societal forces such as technology, social trends, and economic conditions. Understanding and adapting to these changes is crucial for successful marketing. In this development, what should marketers do?

In times of changing consumer behavior, marketers should adapt their strategies to meet the evolving needs and preferences of their target audience. Here are some key actions marketers can take:

Conduct Market observation Research

 Stay informed about changes in consumer behavior by conducting regular market observation research. This can be blended with surveys and analysis of industry trends and competitor strategies.

Customer Segmentation

 Update customer segmentation based on new behaviors and preferences. Identify emerging segments and tailor marketing messages and offers to address their specific needs.

Digital Marketing

Shift focus to digital marketing channels that are more aligned with changing consumer behavior, such as social media, mobile marketing, and online advertising.

Personalization

Increase efforts to personalize marketing messages and offers based on individual customer preferences. Use data analytics and customer relationship management (CRM) tools to track and respond to customer behavior in real time.

Adapt Product Offerings

Modify product offerings or develop new products to better align with changing consumer preferences. This may involve introducing new features, updating packaging, or offering new product lines.

Improve Customer Experience

 Enhance the overall customer experience by making it easier for customers to interact with your brand. This can include improving website usability, offering multiple payment options, and providing responsive customer service.

Engage with Customers

 Increase engagement with customers through social media, email marketing, and other channels. Encourage feedback and use it to improve products and services.

By staying flexible and responsive to changing consumer behavior, marketers can better position their brands for success in dynamic market environments.

Comments

Post a Comment

Popular posts from this blog

Sweet Spot

How do you create a digital strategy that involves customers in an energized social community?  How do you create an engaged, active “go-to” website?   Prophet's David Aaaker says, You must change the orientation of marketing from selling the offering, the brand, and firm to becoming an active partner with a shared interest program around a customer’s “sweet spot.” A sweet spot reflects customers’ “thinking and doing” time, beliefs and values, activities and passions, possessions or places they treasure. Ideally, it would be a part of, if not central to, their self-identity and lifestyle and reflect a higher-order value proposition, much beyond the benefits provided by the offering. To illustrate, Pampers went beyond diapers by creating the Pampers Village community that provides a “go to” place for all issues relating to babies and child care. Its five sections – pregnancy, newborn, baby, toddler, and preschooler – all have a menu of topics. Its online ...
Post a Comment
Read more

New ways to business capital

A Business capital, often referred to as capital in a business context, is the financial resources or assets that a company or a sole proprietorship uses to operate, invest, and grow. Traditionally, it can come from various sources, including: 1. Equity Capital: This is the money invested by the business owners or shareholders. It represents ownership in the company and can be in the form of common stock or retained earnings. 2. Debt Capital: Debt capital is borrowed money that the business must repay with interest. This can include loans from banks, bonds issued by the company, or other forms of debt financing. 3. Working Capital: Working capital is the money a business uses for its day-to-day operations, such as paying bills, salaries, and purchasing inventory. 4. Fixed Capital: Fixed capital refers to the funds invested in long-term assets like buildings, machinery, and equipment. 5. Venture Capital or Angel Investment: Startups and high-growth companies may secure capital from vent...
Post a Comment
Read more

Is Liberalism under attack?

I believe the answer may be yes. It's yes because two powerful states in Asia: China and Russia have consolidated authoritarian regime, that the end points may not be visible soon.  These two forces are working tirelessly to globalize oligarchy and authoritarianism. Their gospels has been noised abroad. Their influences influences have been displayed in some nations (with pseudo democracy) in the global south,  In Africa, liberal democracy have been badly weaken by the character of people in leadership: abuse of offices, stealing of public funds without questions and necessary punishments, plus rigging of presidential elections, leading to changing fortunes ànd quagmires. Beside, the curent hyper-inflation in Nigeria is blamed on the recent resurgence of Adams Smith and liberal economics doctrines (and partly by loyalty to Washington consensus: policies and insititios designed by the US government to globalize capitalism and it's associated cultural systems). The market is now...
Post a Comment
Read more