Ignoring market trends
Notably, consumer behavior in the past has been changing rapidly creating a different need for diverse strategies for businesses to advertise their businesses. This has increased a vacuum in trends because the consumers keep changing their behavior. This induces progression in invention and skill in production as well as increasing profits for the producers. Such are advanced technology which help improve the quality of product and services and current epoch such as environmental preservation creating a market for environmental friendly products. Therefore, the author’s point is that market trends keep changing according to the changing customers’ preference hence the need to monitor the change in consumer trends.
The author’s main audience is personnel in managerial positions that are involved in productions. The role of these managers is to conduct research that would benefit their companies financially. It would provide satisfaction to the targeted clients.
The author, as previously noted has intricately explained that consumer preference is directly influenced by emerging trends. A good example is the video game producer from Canada iToy ME2. This company changed the notion that the majority of the population believed that video games made children coach potatoes by increasing the physical activity involved as well as increasing demand of such games.
The conclusion of this article from the author is the need for addressing the emerging trends and counteracting them in order to avoid the competing firms from changing the dynamics of the market. He also highlights the procedures to counteract the up-and-coming market trends. The performance of the organization should be first addressed then the impact likely to be caused by the change likely to happen is analyzed then a decision is made if there will be a positive reaction to the proposed product.
In conclusion, the author has highlighted the benefits of researching on market trends and the effects of ignoring this crucial factor that ensures success in most businesses. A good example is in the case of Coach and their poppy line of economical hand bags that ensured success even as the economy comes to a downfall. I believe the author made the most crucial point for a trend that would remain priceless to a production firm and benefit a nation’s economy as well.
