Trends and Developments
In this area we examine key trends and developments that are impacting marketing. Coverage includes wide-range of issues such as examination of new and evolving approaches for research markets, reaching customers, identifying product needs and much more.
If you are someone who celebrates Christmas, then decorating a tree is likely a regular part of your celebratory routine. For many, tree decoration is the final stage of a potentially lengthy process requiring the identification, possible cutting down, transporting and, finally, mounting of a chosen tree. For some, this process takes several hours, involves significant travel and requires a lot of money before the purchaser sees the tree standing in their home. Yet, millions of people around the world look forward to undertaking this task. Millions of others, however, consider the acquisition of a live Christmas tree to be pure drudgery and look to get in the Christmas spirit in ways requiring a lot less effort.
Many companies sell products that work as both components within larger products and as stand-alone final products. For example, audio manufacturers sell electronic radios to car manufacturers that are built-in components, and they also sell end products that consumers buy in the retail market. But selling to manufacturers often requires a different marketing strategy than selling to consumers since these markets are fundamentally different and each will seek different benefits.
Despite what many marketers believe, the baby boomer market is far from dead - yet. Sure many boomers are now reaching retirement age and have become much more selective about what they buy. And yes, maybe they are not open to new products the way Millennials and GenXers are. But, that doesn’t mean baby boomers will not spend money. They will, if what they are buying is something they really enjoy.