The 20th century involved the process of rolling out newer and better versions of products as fast as possible to keep the buyer's to make back to back sales. It focussed on creating products which fought for a place in order to gain the customer's attention.Big bucks rolled into advertising as the promos grew more engrossing and eye-catching. It really became "a jungle out there" with everu second resulting in a newer commodity with an oppurtunity to exploit.
But the newest commodity to hit the market is now the customer. It's not anymore about what product will appeal to the customer but what are the needs of every single buyer. It is important to note the fact that while marketing a product considering the consumer base as a single entity rather than the collective buying power (CBP) of individual persons with different tastes is a grave mistake. The marketing of a product has to be focused on the needs of individual customers. Nothing more usher's this new idea into the 21st century than internet retailing. Customised advertising according to the interests of the online customer bring respite to the customer from being bombarded with ad's of every single commodity sold. It alsoresults in smarter marketing and improved sales with more focussed targeting. Online retailers such as Amazon and eBay use this to great effet in their marketing strategy. As the idea is new a period of diagnosis and analysis is in order tofully assess the effectiveness of this concept.
But one thing is for sure, the customer is king, for sure, as we herald in a new era of Sales and Marketing.
