Business assignment #81195

2. Read Case Study: Wisconsin Cheese Develops Global Following http://contentmarketinginstitute.com/2012/04/wisconsin-cheese-content-marketing-case-study/ 3. Explore the website EatWisconsinCheese.org 4. Initial Post (600 words) What was so different about marketing today as opposed to the past? Where do you see marketing going in the future? Why should we care about consumer behavior and the rapid changes in their behavior? 5. Reply Posts (2 200-word posts) Do you agree or disagree with your classmates' posts, or can you offer different insight? Reply to 2 students. Student#1: The 21st century has seen businesses shift more focus in the marketing departments of the companies more than other departments or sections. Marketing strategies have seen senior level management being present in almost the whole process of coming up with advertising strategies that will attract more clients to their products. Consumers are spending less and invoking educated, or well-thought shopping behaviors to only spend on relevant products John Gerzema expounds the position that marketing is now by the consumers and not originally by the companies. The question compares marketing today against marketing in the past in the contest of John this would be the year 1931. Companies have had to diversify and actually learn from their customers from what the customer needs as opposed to what the business thinks the customer wants. Consumers in different organizations like communities have played an integral part in the evolution of marketing. In the past, a business advertising a product had only the task of convincing one customer today however with the advent of social media and online platforms customers believe more the review or pitch of another customer as compared to the companies’ advertisement. Advertising a product does not necessarily guarantee huge sales; the business name should be associated with good things like supporting the community. In the past and not necessarily the 1930s celebrities distant themselves from their followers but in this age, they are surprisingly more ‘available’ in the communities they grew up, live in among others courses that improve the wellbeing of their neighbors. (John Gerzema,2009) Gerzema statistics inform that 52% of the respondents spent income on the internet and surfing; this was the highest value as compared to all other variables examined. Going back to the question of the direction with which marketing is going is clear digital marketing which includes social media, websites as well as a referral system. Traditional methods like newspaper advertisements, radio and television advertisements are gradually being faced out with relatively new companies not using the methods at all. According to 2016 statistics, 76.2% of the American population were using the internet which consequently confirms more potential customers online than on any other platform or mode. Any business is most likely to enjoy a large audience and an attentive one if it advertised its products on the internet resources. Companies that are not evolving and implementing the current marketing strategies are losing greatly in potential revenues which will eventually lead bankruptcy and closure of the business. (John Gerzema,2009) The basic reason for caring about consumer behavior for a business is that the business will enjoy long-term customers and clients as opposed to a onetime customer. Wisconsin dairy, for example, has taken a great deal of time in incorporating its customers and community in building its brand. Such a process is not cheap and actually requires investing a lot of time and implementing transparency. John describes how consumers have shifted from anxiety to action and actually confronting the companies with a united front (Christine Dunn , 2012). Consumers are now looking for better products as opposed to more products; the consumer is more interested in the value of the product to him or her and whether the product actually is worth the price tag. The rapid change of consumer behavior has seen consumer migrate to mindful consumption and employing countermeasures whenever wants come before needs. For a business to survive in this Era, it needs to understand that minimizing cost does not necessarily guarantee profitability let alone growth. Marketing has evolved and stopped being centered around corporations and has shifted attention to consumers or users of the products. Business are investing heavily in consumer awareness and understanding of their products. Consumers behavior has become a key subject and businesses are required to understand its customers after which they can mold desired products that the customer wants. Student #2: What was so different about marketing today as opposed to the past? Marketing today is vastly different than that of the past. We are marketing to a consumer led industry, where consumers are dictating the market, not the companies. The consumer base is much more educated and aware than ever before. Other interesting facts are that consumers are much more fiscally conservative than ever before. Beginning after WWII, Americans went on a vast consumption splurge, which led us into dept. The result was eventually the 2009 market crash, which led to a domino effect of economic disaster. Since then, Americans appear to be more fiscally conservative, and are using less financing and credit cards t make purchases. Visa states that consumers are using debit cards as apposed to credit cards more than ever. Where do you see marketing going in the future? Consumers are more so emotions, buyers as apposed to brand buyers. The baby boomers bought everything from Sears, because it was Sears. It was very good quality, and a prestigious brand. Millennials purchase based on emotion. So marketing towards a cause is a modern approach. Why should we care about consumer behavior and the rapid changes in their behavior? Consumer behavior is everything when it comes to marketing. By being aware of consumer behavior, it will help you strategize your marketing campaign. Like the previous example, it is relevant to know that consumer behavior has changed form the aspect of purchasing brands, to know purchasing based on emotions and experiences.