A Quote by Anita Elberse
Media companies' hit-focused marketing did not emerge in a vacuum. It reflects how consumers make choices. The truth is that consumers prefer blockbusters.
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If old consumers were assumed to be passive, then new consumers are active. If old consumers were predictable and stayed where you told them, then new consumers are migratory, showing a declining loyalty to networks or media. If old consumers were isolated individuals, then new consumers are more socially connected. If the work of media consumers was once silent and invisible, then new consumers are now noisy and public.
Consumers value their personal time and are loyal to those companies that make their lives more productive. Brands gaining some of the biggest successes in social media are engaging with millions of consumers through value exchange.
When companies try to guess what consumers want, they essentially make the choice for consumers.
For decades, media companies have largely controlled the tools through which consumers were told what to buy, wear or think. Now consumers possess the same ability to produce, distribute and curate content and distribute it to their peers in real time across social media platforms.
Over the past 60 years, marketing has moved from being product-centric (Marketing 1.0) to being consumer-centric (Marketing 2.0). Today we see marketing as transforming once again in response to the new dynamics in the environment. We see companies expanding their focus from products to consumers to humankind issues. Marketing 3.0 is the stage when companies shift from consumer-centricity to human-centricity and where profitability is balanced with corporate responsibility.
Some of the power has shifted from companies to people. Using social media tools (blogs, wikis, tagging, etc.) more individuals are creating semi-spontaneous 'groundswells' of opinions to which companies and other institutions are realizing they must respond. From marketing to consumers organizations are being pulled into engaging with individuals.
Critics of consumer capitalism like to think that consumers are manipulated and controlled by those who seek to sell them things, but for the most part it's the other way around: companies must make what consumers want and deliver it at the lowest possible price.
Disclosure of the full monthly costs that consumers pay is the first step to ensuring that cable companies stop taking advantage of consumers.
No longer do companies study consumers' psyches only by asking people what they think about technology and how they use it. Now they conduct observational research, dispatching anthropologists to employ their ethnographic skills by interviewing, watching and videotaping consumers in their natural habitats.
If consumers are strong, if consumers are protected, if they can trust the marketplace and feel confident that they're not being cheated here and there, then consumers can drive this economy forward.
Consumers presented with six choices on an item were twice as likely to buy as consumers overwhelmed with 24 varieties of the same item.
It is not the fault of the entrepreneurs that the consumers,the people, the common man,prefer liquor to Bibles and detective stories to serious books, and that governments prefer guns to butter. The entrepreneur does not make greater profits in selling bad things than in selling good things. His profits are the greater the better he succeeds in providing the consumers with those things they ask for most intensely.
Companies are very, very good - better than consumers themselves - at knowing what consumers are actually craving.
More and more, companies are realizing the value of their female consumers, and that's showing up in the female-specific products they're making, their marketing strategies, and even the feel of their companies internally.
By providing memorable social media customer service, companies not only create deeper connections with consumers, but they glean valuable insights on how to improve their products or services.
Consumers will purchase high quality products even if they are expensive, or in other words, even if there are slightly reasonable discount offers, consumers will not purchase products unless they truly understand and are satisfied with the quality. Also, product appeal must be properly communicated to consumers, but advertisements that are pushed on consumers are gradually losing their effect, and we have to take the approach that encourages consumers to retrieve information at their own will.
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