- Published: December 31, 2021
- Updated: December 31, 2021
- Level: College Admission
- Language: English
- Downloads: 17
of Marketing 03 June 2006 With the increasing demand that our job require, more and more people are turning their attention into what is fast and effective. With the rush hour and traffic that likewise increase our vulnerability to stress, people demand for a good life paralleled with fast pace. Technology has somehow addressed this issue by providing us with faster communication and transportation technologies. Speed is the answer to the demand for a faster pace of life, and this is the very essence as to why BMW created a turbo charged petrol fuelled engine that accelerates from 0 to 62mph per 6. 6 seconds. This is already faster than the normal speed of cars available in the market at present. It is equipped with capabilities that limit the acceleration into 155mph that electronically safeguards the person driving thus avoiding cataclysmic effects of speed in accidents. http://www. businessweek. com/innovate/content/apr2006/id20060426_124236. htmchan= innovation_auto+design_new+%3Cfont+face%3D%22arial%22%3E%2B%3C%2Ffont%3E+noteworthy. Question here is, can this be available to ordinary consumers earning meager income enough to support a family of three Or is this limited only for those who can afford the luxury of buying expensive cars like that of BMWs As Steve Job would say, is the cost effective enough to be accessible to the ordinary masses Or will they be confined to subways and busses I believe that consumers nowadays are better equipped with options and better judgement this is why advertisement gets a bigger chunk of investments. In the end, no matter how popular the product may be, it would still boil down to what is necessary and therefore price is not the only consideration here. http://biz. yahoo. com/ap/060602/oil_prices_europe. html. v= 1
With gas prices increasing unpredictably, shoppers would go for the best value for their money. In as far as economic stability staggers due to the erratic trend of gas prices, sellers are at the same time on their toes for tough competition. From a seller’s point of view, marketing and selling is like a disease that may spread to other regions in the body. If you don’t market well, you can’t sell well and if this continues, you are more likely to hit rock bottom and be forced to close shop. This is like wise true in the consumer’s point of view, knowing that prices of commodity also goes up when gas prices are high, it is but a natural response for buyers to hunt for good buys. More and more consumers are fast becoming practically wise and responsible, because this is what experience has taught them. This is why Honda cars developed their ingenious Hybrid engines to serve the demands of conscious buyers who are keen at buying fuel efficient and cost effective cars. In an issue from business online,
http://www. businessweek. com/autos/content/may2006/bw20060518_751988. htmchan= autos_autos+index+page_news. this move is the company’s response to the increasing amount of gas plus the need for people to attend to their needs of transportation and speed. Their production growth will eventually bring in 13% growth rate to the economy by 2008, which is good news not only to their avid customers but to their employers as well. Time and time again, experience teaches a person to make a better decision, to adjust and adapt to situations (Rogers. 2001).
Despite the ease and convenience that the advanced technology has provided us, there is still the area that measures up the parameters required for us to pay in return. The advancement in technology required us major dependence over gas to drive us to destinations we are headed, yet it is the same raw material that limits us economically from reaching that point. We can not help but wonder why the thing that causes a market to grow is the same culprit to its failure. What the market needs nowadays is a stable source of inflow of resources, yet this is the same dilemma that is faced by the consumer. http://www. msnbc. msn. com/id/13098037/ with the falling rate of employment in the US today, we can not help but worry about how feasible will our income be, amidst the increase commodity prices There is a need for a constant exchange of goods from both sides whereby the moment that one side fails to deliver what is expected by the other, disruption occurs in a grave form of financial loss. What the market needs today is a product that is dynamic and efficient, and this can only be done if the supplier considers the elements of consumer basic needs and incorporates them in the goal when producing a product. Another system that could be effective is the realignment of strategies that will make a product worthy of consumer patronage (Rogers. 2001). A product that addresses several aspects of necessities with an effective cost is one that usually obtains patronage from buyers, for what is an effective product if it would defeat the purpose of making it available to the masses And what difference would availability and cost make if the consumer can not rely on good standards and durability Marketing is as strategic as making a personal decision involving ones future, it should be precise and accurate rather than experimental. It should be decisive yet flexible according to alternatives.
In conclusion, more and more companies have shifted into the popular paradigm of value for money. As the years grow, consumers have elevated their expectations over the products they patronize, and while competition slowly saturates the market, a wide aspect of option is made possible to consumer. Shifting priorities and biases is always expected, ultimately what matters most is who gets the biggest size of market share and how to maintain it.
Rogers, S. (2001). Marketing strategies, tactics and techniques: a handbook for practitioners. PA: Greenwood Publishing Group Inc.
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