The Advantage and Consequences of New Economy Marketing
Some of the research that has been done today gives us alot of information on the values of today's society. WhatI'm referring to is a lifestyle in which there is more todo in generally less time in which to accomplish it. There's more to spend money on so there's less disposableincome. Quite often there's just one parent instead of thetraditional two parents. Safety and security is important, Quality and value are more important than ever. People arewilling to pay more for desired quality. People are alsowilling to withdraw from the unnecessary and focus onessential stuff, and Convenience is extremely important. Consumers are having a wild time with technology.
The 90's have been characterized as the "Decade of Decency"and such trends have been projected as cocooning andburrowing (staying at home), socializing withsimilarly-minded people in smaller groups, backpacking,4-wheel drive vehicles, antirich, anti-big, anti-professional backlash has been happening.
Dumping the corporate grind for small-town quality life. Self service niche type products and services and selfindulgences such as fresh flowers and Godiva chocolates. Adults are acting like teenagers. Golden Oldies now appealto the youngsters as well as the 40's crowd. Fitness buffsare on a super quest for health. Vigilante consumers whoread the labels, protest and boycott. People want it now..People are becoming socially responsible.
If you use these items in your marketing, given this newlifestyle, and you wish to sell these people who make upthis new lifestyle, you need to be prepared to target yourmarketing efforts toward these segments.
Some of the characteristics you need to address are makingyour business products and services appear to be necessarywhen this market is with drawing from the unnecessary. Youneed to compete for the potential customer's time andattention when they're already overscheduled and subjectedto too much stimulation.
You need to connnunicate the legitimate quality of yourproduct and services in a world where every business seemsto make the same claim of quality. and reliability. Youneed to target those individuals who have an interest inyour business as products and services and they have themoney to spend on them. You do this with target marketing.
Remember that in selling, time is money! Therefore, youmust allocate only so much time to each prospect. Theprospect who asks you to call back next week, or wants toramble on about similar products, prices or previousexperiences, is costing you money. Learn to quickly getyour prospect interested in, and wanting your product, andthen systematically present your sales pitch through to theclose, when they sign on the dotted line, and reaches fortheir checkbook.
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