New Consumer Marketing: Managing a Living Demand System

New Consumer Marketing: Managing a Living Demand System

New Consumer Marketing: Managing a Living Demand System

New Consumer Marketing: Managing a Living Demand System

Synopsis

Because of the Internet and globalization, the fast moving consumer goods market has been turned on its head and made more competitive than ever. This book synthesizes emerging marketing thinking in the consumer domain with practical advice on how to profit from changes. It illustrates the key issues facing the fast moving consumer goods industry and provides an analysis of cutting-edge management research and academic insight.

Excerpt

The current crisis in marketing is underscored by profound change in the
marketing environment.

A new marketplace is emerging and bringing with it a host of challenges never before encountered. For marketers, this event is both exciting and unnerving: opportunities for innovation and growth parallel threats to proven methodologies and the status quo. The challenges posed by the changing competitive arena are not restricted to a particular industry or sector, but span the gamut of enterprises operating today. All businesses are being affected to some degree by the root-and-branch upheaval that is occurring in the wider marketing environment. At the start of the third millennium, a paradigm shift in commerce is clear: we have moved from a production-driven to a consumption-led economy.

While the forces of demand and supply continue to regulate the economy, the nature of the exchange has altered beyond all recognition. The 'them and us' adversarial approach to trade is giving way to consumer involvement in all aspects of product and service development and delivery. Supplying organizations use increasingly clever methods to woo consumer loyalty and maintain competitive edge. High-powered and dynamic data technology helps produce finely tuned marketing strategies, which can be implemented on a one-to-one basis through an everexpanding choice of traditional and electronic media. Customers and consumers exploit this greater access to information and the ability to achieve dialogue with suppliers, exercising their new found empowerment by increasingly leveraging sales propositions in their own favour. The result is a mutually influenced, beneficial interaction.

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