In the last
50 years the world has gone through more changes that seen in the
last 1000 years. In 2002 this rapid rate of change continues to
excel at a phenomenal rate. This changes that are occurring are
influencing every aspect of life, which in turn is affecting how
businesses operate and market their products and service:
The influence Of Today's Trends On Different Areas of Life
The many areas of life that today's trends are having an influence on
include
- Work e.g. increase in the number of sole
business operators etc.
- Family e.g. increase in divorce rates,
changing family structures etc.
- Lifestyle e.g. various new types of living
arrangements etc.
- Business e.g. new emphasis on corporate
and social responsibility etc.
- Technology e.g. new application of technology
for reaching customers etc.
Today's Trends and Your Company's
Marketing Strategy
The areas of life listed above are just a few of many that have an impact
on your business marketing strategy. However when applying today's trends
to your marketing strategy you need to incorporate them all into the
aspect of your business. Three of the most important aspects of your
marketing strategy that today's trends have an affect on are outlined
below. They include your customers, your competitors and product development/service
structure.
Your Customers
As trends change so do customer needs and
wants. A female customer of twenty years ago would have had different
needs to a female customer living in today's world. For example,
if the female customer is in her early thirties, she will probably
still not have any children and be working on her career. This
is quite a contrast to a female customers of twenty years ago who
in her early thirties would be settled down by now and already
have a few children. From a marketing point of view this affect
the way a business promotes a particular service/product to this
female customer. Twenty years ago a business would be focusing
on the family aspect of the female customer, in 2002 they may focusing
more of her career needs. Another example is the elderly market.
In the seventies once a person reached the age of 65-70 they would
most likely settle down and spend their time at home every day.
However the latest trends show that in 2002, people in this age
group are more active than ever before and therefore use product/services
that support their active life. A business needs to be in tune
with these trends if they are to do business with this particular
target market.
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