Data Driven Decision Making: The availability of big data has enabled businesses to make data driven decisions in marketing By analyzing customer data, businesses can understand consumer preferences and behaviors and customize their offers accordingly
Competitiveness
Marketing helps businesses differentiate their products and services from those of their competitors It enables them to establish a unique position in the market and attract customers
Innovators
These consumers are early adopters of new products and services and are attracted to novelty and uniqueness They are often open to trying new brands or products and are willing to pay higher prices for the latest trends
Consumer decision making process
Evaluation of alternatives
Once information is gathered, consumers evaluate different product or service options to determine which one best suits their needs and budget Consumers consider factors like price, quality, functionality, and brand reporting