How do marketing strategies evolve as a response to changes in customer preferences?
Companies must be ever-changing and therefore, flexible to change because customer preferences are constantly changing. In a niche market, for example, it is much easier to change marketing strategies because smaller businesses have a more intimate relationship with their customers as they tend to know their preferences and likes better. Marketing strategies are always evolving, let’s take Apple as an example. Apple was founded in 1976 and Steve Jobs was able to revolutionize the world. His first products were not generated from a market orientation, it came from the innovation that Jobs aspired to create. The products that Apple presented changed the way people lived and the company didn’t really need a big marketing strategy. Customers were attracted by the unknown and by the future. But as technology became more popular and more companies selling high-tech goods rose, Apple had to begin changing. Apple has a professional marketing strategy to keep its business on top of the market. Many companies like Apple have adhered to social media as it seems to be the best way to interact and attract customers to take a look at their products. Social media is a change in customer preference as we see that nowadays online shopping through Instagram pages is very common.