Marketing (as a marketer) Essay Example | Topics and Well Written Essays - 500 words

Marketing (as a marketer) - Essay Example In the recessive environment, while pricing has remained the dominant problem, the firms are increasingly facing competition from other macro-environmental factors. The after sales service has become critical to retain customers. An effective distribution and delivery system that focuses on time and place has also become vital part of market strategy (ibid). The fast changing preferences of the customers, technology, environment and ethical considerations have become vital elements that impact organization’s performance outcome. The consumer psychology plays strong role in the development of new products. The market strategy therefore needs to emphasize on brand creation and advertising to suit the segmented market. Wal-Mart’s strategy to introduce private label products should not impact the pricing dynamics of firms like Aveda, Kellogg and Starbucks etc. These firms have already created a niche market for their products and their brand strategy is targeted towards the market segment that strongly believes in the credibility of brands. The perceived value of the products of these companies meets the consumption value and therefore considerably satisfies the target consumer. In the age of advancing technology and globalization, the businesses have become highly competitive. Consumers have become the mainstay of the businesses that has necessitated the need for dynamic market strategies. Indeed, understanding the consumer psychology has become intrinsic part of business decision making. The identification and analysis of consumer behavior at different level of interaction helps the companies to evolve strategies for gaining market position. Thus, product development and market strategy are primarily defined by major segmenting variables like age, gender, income etc. These help provide the firms to develop effective market plans so as to influence the buying decisions of the target market. When