Marketing: Discussing Trends and Mega-Trends
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Megatrends take place all of the time - for example, think of the current trend of "buying green." What are other megatrends or trends that are in the macro-environment? Which of these trends or megatrends do you think marketers should target? Why?
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Solution Summary
In about 270 words, including one reference, the concept of megatrends is discussed by using multiple examples. Some of these examples target the market specifically, analyzing how it has changed.
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Megatrends (or major changes) are part of the big picture that firms should be aware of when formulating plans. Megatrends affect the economic environment over many years or decades.
Studies identify the following mega-trends:
1. Mass customization - "Customization is now one of the key differentiators in the consumer's buying process."
For instance:
a) Audio-equipment consists of modules which could be assembled as customers wish to satisfy their preferences;
b) Personal-computer manufacturers (like Dell) allow ...
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