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Firms are facing internal & external changes - Coggle Diagram
Firms are facing internal & external changes
Consumers
demand value & don't tolerate low service levels
increasing desire for individualization
significant increase in social media use
Rise of Direct to Consumer (DTC) & Indie Brands
Marketplaces
Fragmentation of markets
Globalization of markets & supply chains
reduced quality-differences in products
more intense competition between firms for customers
Technology
Challenges around data protection
AI | Big Data | Moores Law
Better prediction of customer buying behavior
Better understanding of customer behavior & attitudes
Marketing functions
Media dilution (low awareness due to too many ads) + channel multiplication
Decreasing MKT efficency & effectiveness
MKT in danger of being restricted
Pressure on MKT function to differentiate