Which is more important, the consumer or the product? Explain in detail.
Do consumers drive the development of products, or do products drive consumer behavior? Explain in detail.
In today's context the consumer is more important as there is plethora of choice available to him. Thus understanding the customer is more important now.
Understanding your customer
With all of the advances, shifts, and developments of the business world, one common goal throughout all of the changes remains the same: provide excellent service to your customers. The customer, after all, is the primary reason a business exists and is able to become profitable. First, you must figure out what it takes to have satisfied customers, to retain and attain more satisfied customers in the future.
This is the issue relating to the consumer behaviour and marketing. The differences in consumer behaviour can be due to culture, habits, tradition and psychology. A marketer must understand the following issues:
* The psychology of how consumers think, feel, ...
The solution discusses consumer versus products
Ethics of Product Recall: Consumer Safety Vs Company Interests
You are the CFO for a small firm that makes kitchen appliances. While conducting field tests, you discover a design flaw in one of your most popular models that will likely cause the death of one or two consumers. A product recall, however, will bankrupt your company, and force you to lay off every employee, and also leaving you jobless. What would you do?View Full Posting Details