Increasing knowledge of consumer
Description:
While in the past consumer only source of information were other consumers, own experience or sellers information, nowadays the possibilities to get information on a larger scale is easier then ever before with the introduction of the internet.
Enablers:
- (Broadband)Internet : (broadband) internet makes it possible
- Review websites (wiki based)
- Price comparing websites
- Non-manufacturer information website
- The importance of Word of Mouth growing
Inhibitors:
- Information overload
- Untrustfull information
- Unknown sources
- The importance of segment marketing rises. Since the social media growing, it is getting more challenge and difficult to communicate with the target audience through one or few media.
Paradigms:
Research shows that more and more consumers look on the internet for information before doing a large buy. It is relativly easy now to check others review on product, compare different brands and to check prices at different stores.
Experts:
Philip Kotler
Timing:
Not relevant