M chap 3 Coursework Example | Topics and Well Written Essays - 250 words

M chap 3 - Coursework Example scale and large scale businesses may always employ certain approaches as well as techniques relevant to changes in consumer behavior (Dietrich and Media, 2015)s. In marketing, businesses always need to acquit themselves with certain information from their consumers including their locations, what they want, as well as who their real consumers are. Changes in consumer behaviors always make businesses to conduct thorough researches, as well as, surveys in order to know what the consumers want. For example, in case they fail to satisfy the changing consumer interests and needs, marketing of such products may be compromised and can easily fail. As such, the businesses always conduct surveys and research through sales forecasts, internet researches, as well as, market sensing (Dietrich and Media, 2015). This gives them a competitive advantage in the marketing spectrum as they deeply understand the needs of their customers, failure to which, can lead to failure of the companies. It is important to note that the issue of consumer behavior is also affected by the economy of the United States in certain ways. For instance, if the economy strengthens, the consumer demands and tastes increases (Rao, 2010). However, if the economy faces some crises, the consumers also feel these economic crises, thereby limiting their consumption demands. It is of critical significance to note that changes in consumer behavior are not influenced by any legislation. This is because consumer behaviors are majorly dictated by their own personal interests, tastes and preferences. As such, it is important to note that consumer behavior can affect the market in various ways. According to my opinion, consumer behavior always controls the markets in various ways. as such, the changes in consumer behavior can always make some companies to experience big losses if they do not device effective marketing strategies to approach the situations occasioned by the changes in consumer behaviors. Therefore,