Changes

CHANGES

As a firm grows many changes in the business environment is occurring. The business should make up for these things that are happening in the business world in order to cope for the innovations and for customer’s wants. Why should firms respond to changes?

Firms need to see the opportunities that exist even in the current economic downturn? Firms should review the business objectives to insure they are aligned with the current market conditions. The economic impact of the current global recession has consumers cutting their spending in many areas therefore this dictates a change in the marketing direction.

Changing the marketing mix like the 4p’s is an intelligent idea when the business has sensed that there is a difference between their customer’s wants today and yesterday, like what Parcel Force Worldwide did in their firm. To adapt to the worlds fast changing phase.

First they identified what product or service is needed by their customers by researching, next they vary the prices according to what product or service the customer wants, then they identified their channels which can deliver their services more efficiently and as much as possible the fastest way of delivering their services and lastly they inform customers of products and persuades them to buy. They made promotional activity to be clear and objective. The firm understands who it is promoting to and what the messages are.

It is not necessary to eliminate competition, in fact it is a way of improving the firm because without it the firm will not strive hard to improve itself and deliver quality services to the consumers. A little change in the business environment is not harmful rather it teaches the firm to be adaptable plus it gives excitement to the firm.