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The use of technology to apply marketing concepts - Assignment Example

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The use of technology to apply marketing concepts

Consumers have great amount of information access power. As the demographics has been continuously changing worldwide, needs and preferences has been changing. In any part of the globe it's the consumers demographics and culture plays an all-important role in shaping any marketing strategy. For the product like Ice cream consumers' age as well as eating culture always plays a major role to decide preference and needs. In general, today's youth particularly interested in technology and gathering information in emerging economy, is more aware of its environment and changes that is taking place globally. Young are more technology friendly and connected through Internet, TV and other communication gadgets. They are more information oriented. Today's youth is more assertive and they have specific preference and needs as well as they are more influential in shaping others buying behaviours to buy almost anything. Children age 2 to 14 indirectly influence as estimated $300 billion in annual household purchase (Mc Neal, 1998, pp 37-41). Reaching and influencing the young segment is ever more challenging. Consumption patterns are shifting from mass media towards micro media for the masses. Savvy media empowered consumers often under age of 25, are being influence by trends from all over the globe.
So children and youth represent an important demographic market because they are potential customers, they influence purchases made by parents and households and they constitute the future adult market (Mc Neal, 1998). Marketers segment target audiences by age to build brand awareness and brand loyalty early in life that will be sustained into adulthood. Child and young consumer role in one of the important aspects to be studied before marketing for the products like Ice cream. Children's consumers' socialization and behaviour influences food choices, both by direct purchases and by substantial influence children have on family purchases. Isler et Al. (1987) examined the location; types and frequency of products that children aged 3-11 requested their mother over 30 days. Food accounted for more than half (55%) of total requests and desert food (24%). Adolescents influence their parent's purchase of fast foods, soft drinks, desserts etc. Parents also acknowledge the influence that children have on their food purchases. Parents reported that 47% children influence their desserts purchasing. Mc Neal (1998) studied brand awareness among children and youth and found that children as young as 2-3 years can recognize brands. Although brand choices can be important for youths but they are likely to experiment with brands. Young people tend to change their consumption habits for more than over 35s. They are promiscuous consumers. So every organization, which is focusing on young, must have to constantly talk with then and if they found not good as competitors they will ditch you. So certainties have gone. A lot has been changing all around. This is a generation brought up in an age of technology and globalization. Youth brands have to be relevant if the product have quality. If marketers want to segment the youth market, they should carefully distinguish trends and subcultures with in the age group and demographics. When affiliating to sub cultures brand need a deep, long-term commitment to ...Show more

Summary

The new economy has brought success to numerous organizations that use technology to apply marketing concepts like customer focus, good value, quality service and efficient exchange mechanisms for satisfying customer needs and wants. The new economy is based on the digital revolution and the management of information about customers, products, prices, competitors and every other aspects of the marketing environment…
Author : jacinthe75
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