consumer driven economy :: essays research papers

A Consumer Driven EconomyIn the past, marketing has been based on a stimulus and response method, where marketers would calculate out stimuli in the form of advertising and promotions to receive a limited response in the consumers behavior. Today, marketers have discovered an alternative track to communicate with their consumers called sense-and-respond. A sense-and-respond model is where advertisers sense what consumers are saying they want, by means of their behavior, and the marketers respond as promptly and as efficiently as possible.This reinvigorated trend is giving the consumer mark off over the decisions that until now, the corporations made for them. This impacts many aspects of business- from the items the retailers steady down to stock, how the merchandise is categorized, the delivery, and the consumers even have more control over the existledge of new results. Putting the consumer in control could save a bon ton a lot of money, while keeping the consumer satis fied with the product.Many customary companies are now practicing sense-and-respond when it comes to running their business. Wal-Mart uses the Internet to allow their suppliers to access entropy about their daily sales. While doing this they are not only fortune their suppliers, but they are also avoiding overstocking their stores hence they only buy what they know they will sell. Companies such as Dell that mass customize their product for the consumer are also practicing senseand-respond. While giving the consumer complete control over what they want in their product, Dell avoids wasting stock that cannot be sold to the consumer.Being a consumer, I am personally stimulate to see this change in the retailer-consumer relationship. I was never aware of the losings that businesses suffered when their products did not sell to their expectations, understanding what the consumer desires will greatly improve this retard of waste.