Examine the Trends Which Will Impact on the Marketing Manager over the Next 20 Years

INTRODUCTION

Today companies face their toughest competition ever. Moving from a product and sales philosophy to marketing philosophy, however, gives a company a better chance of outperforming competition and the cornerstone of a well conceived marketing orientation is strong customer relationships, knowing and understanding the market is the first priority as a marketer, and a sure way to fail in marketing is to assume that what your customers wanted yesterday are what they will ask for today. For example, hot products lose their heat regularly, and keeping track of marketing trends and consumer priorities allows marketers to maintain their leading edge. “By tying developing trends into a marketing strategy, marketers permit a more proactive approach to securing future outcomes to their terms.

Customers are becoming harder to please. They are smarter, more prices conscious, more demanding and are approached by many more competitors with equal or better offers. The challenge facing managers is to produce delighted and loyal customers by trying to understand the target market’s changing needs, wants, demand etc.

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DEFINITION

Trends are the general direction in which something is going or is a direction or sequence of events that has some momentum and durability. Trends are predictable; they reveal the shape of the future and provide many opportunities. Marketers must pat close attention and observe trends and detect a new market...