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While companies are spending enormous amounts of money on Big Data to decipher what exactly customers require, the field of consumer psychology has also caught up to pinpoint the exact mindset that goes on behind making any purchase. There was no concept of consumer psychology at earlier times, as marketers were keen on simply selling off their wares irrespective of customer needs. Now increasingly brands are keen to understand the entire purchase process so that more relevant products or services may be targeted. Advertising agencies are also now involving designers in the overall marketing strategy. Earlier designers were pure artists, producing works of art, but now their final product is closer to what the market really needs. Customers and marketers have also become much more conscious of aesthetics. The basic functionality of several brands is common, yet some overpower the others primarily due to their design salience as the likes of Apple and Dyson do. The founder of the latter company – James Dyson- is a business innovation giant, having tabled so many of them to market.

Source:http://knowledge.wharton.upenn.edu/article/a-consumer-psychologist-looks-at-why-customers-buy/ minor-bidi; mso-ansi-language:EN-US;mso-fareast-language:EN-US;mso-bidi-language:AR-SA’>http://knowledge.wharton.upenn.edu/article/how-target-and-amazon-are-changing-the-rules-of-retail/

 

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