In my opinion, I do agree with Thom Blischok suggested that later in the near future, the form of retailers would change. This is due to the fast pace improvement of high technological innovation products like turning a normal phone into a small computer that we can carry through anywhere and update status with friends through facebook, line, whatsapp and many other applications through our device. The new generation are adopting the new technology in a very fast pace. In fact, the users are requiring more and more from the new innovation products like Samsung or Apple when they are having there WWDC presentation every once a year. Further more, there are many benefits through online shopping. For example, due to there no longer physical shops that the retailers might have to invest a lot of money to make its store looks nice and attractive to customers, there is always a cost on every single movement from the seller, of course the seller is going to add all these cost to the product that they are selling it to the final customers. On the other hand, If later most of the things are purchase through online retail stores, there are no such cost of make the store to look nice! The firm could even use that money to reinvest in its R and D to improve the product itself even more. All in all, I do agree with what Thom Blischok mentioned in this article here. In fact I think it might even reach to us faster than we thought or expected.
It is a fact that the population has slowly come to an imbalanced figure in the recent years. Despite the slowing of the population growth, retailers would have to cope with such change as well. Retailers have come to realize that due to the population’s imbalance, there are much more elders than before and yet those elders actually have much more purchasing powers. This could affect how retailers respond to such change. The way elders purchase products differs from younger generations. Moreover, the change retailers are currently changing is to focus on the use of mobile technology. Such mobile technology tends not to be easy in terms of implementing it. Not all retail stores are able to cope with the shift of mobile technology in the near future. In fact, to be able to become a responsive store would not only need the retailers to open up either mind in terms of accepting those changes but yet to also let the elders whom has the purchasing powers to be learn the technologies retailers are about to implement. Although such implementation can be hard but in the long run, it is rather healthy for the company and in fact, the trend of internet users are increasing recently, such change can make companies to be successful later in the years.
According to the article, the causes of changes are mainly due to mobile technology as a primary force that drives the change and the socio-cultural in term of the increasing number of Hispanic, Asian, and the aging Population as incremental role to drive the change. Technology has become more accessible and affordable to different demographic groups. It is mentioned that the technologically advanced retail tools would be important point of entrée to serving each of those demographic needs. This indicates that the route of change to follow the route of Technological-Socio-cultural: Human and social development. It is also expected technology would be the main contributing factor in winning the retail industry through merchandising and marketing. In addition, the retailers would have focus more on the shopping experience to serve these different groups of ethnicities.
Mainly there are two causes of change which are technological change and sociocultural change. The change in technology is that currently there is an advance in technology and smartphone are now being used as a shopping tool. More and more people have an access to internet. The second major cause of change is a tremendous increase in various demographics such as there will be a 41% increase in the population of the Hispanic group, 37% in Asian and there will be more Baby Boomer whose age is more than 65 years old and are very wealthy and have a lot of money to spend in total about 11 trillion of wealth. These two changes are major changes that are happening in the market now according to the article.
With the route of change, according to the framework discussed in class we can see change as a new value demanded by customer and these value will be proposed by our competitors. And in order to remain competitive in the market, the company need to identify the new value that will satisfy the new demand. The firm need to look at their competency whether they have the competency to satisfy these new value demanded by customer.
For example in this case, with the change in demographic and the the advancement of technology these two changes are the value migrator. They change the rule of the game, and we can see that more and more companies are having their merchandising and marketing of health and wellness products and services through technologically advanced retail tools. These are the new value proposed by competitors. As a company we are the value decider, we have to decide which value will we providing to the customers. In order to be competitive we need to provide superior performance than the competitors or at least we should provide the values that are proposed by our competitors. We should identify the needs of each customer group and provide sufficient education in order to educate the customer and deliver the solution to the customer.
Changes mentioned in the article come from two major routes. The first change mentioned is about the shift in technology and how it impacts consumers’ way of shopping. This is a part of the 1st major route which is about technology, economy, and the market. It was caused by the advancement of mobile technology and it leads to the expand of market where consumers can get the product real time and wherever they are and it can also leads to an efficiency of the supply chain. Retail shops might get affected so they should react to this and make shopping as an experience and incorporate technology to their operation. The next changes mentioned is about the shift in demographic where there will be a higher number of people in the older age group and an increase of Hispanic and Asians population. This is a part of the 2nd route, political, legal-economic, and Socio-Cultural. Because of immigrations, there are a high number of people from many ethnic backgrounds, while much technological advancement helps people to live longer (However, it doesn’t mean that they are healthy). This could be a potential target market for marketers to focus on, since they keep growing. The changes from the two major routes could also lead to the third one in which socio-cultural changes from the higher number of immigrants would bring about the new innovations and opportunities in the future.
There are two major causes of changes which are the technology and socio-cultural. Nowadays, technologies are all around us. From the morning until night we are deal with technology. Mobile technology expand in the market and consumer rely on it more than before. Furthermore, there are many retail shops that use the benefit of mobile technology to increase their sales and also make the customer be more convenience when they are shopping. Moreover, customers be more enjoy shopping when the retail corporate mobile and technology together. The second change is socio-cultural. People from different part live together in the same world. They come from different background and ethnic. So these technology help these people live in the world easier. While the number of people are increasing the role of technology has to find the opportunity and support the demand of the customer. They will give win win situation. Thanika Wongwanich 5380042
According to the case, there are two main cause of change which are technological change and socio cultural change. For technological change, nowadays mobile phone and technology become one of necessary thing in our daily life. We do many things via mobile phone such as chatting or even buying stuff from mobile phone. This change our shoppig behavior from physical store into online store because of convenient. You can buy products whenever you want without closing time. Therefore, many retailers move to focus on selling product online. They can sell all the time and they do not have to pay for the rent of the shop. Also, sellers do not even have to pay for keeping the product anymore. For socio-cultural change, people in society come from different culture, country and so on. However, it is not an obstacle in communication anymore. Because of technology, it keep people that come from different background stay together easier. Passavee 5380038
It is right that technology becomes part of living. It leads to online shopping. Although the research show that elders have high purchasing power, sometimes technology is quite complex for them. The reason is that there are plenty of technological device and process or procedure that elders who want to shopping online have to deal with. It is not standardized process to do which discourage them to buy. However, there is an obvious advantage which is lower initial cost leading to lower selling price. Sellers do not invest a lot in physical stores in terms of decoration and employees training. As a result of this, cost that end consumers have to bear is not high.
In addition, mostly elders behavior in terms of shopping is not simply brick and click, but they tend to be choosy and picky. According to the research showing that elders have higher purchasing power, elders usually take time to think and make decision whether the products are worth enough to pay at certain amount.
As today, technology has become the primaly factor that influence people daily life. Mobile phone now became a 33rd organ of people. People do many activities via mobile phone such purchasing goods, banking, booking and so on. The development of today technology has changed people lifestyle and culture in various way. In term of socio- cultural, technology can expand the limitation due to socio cultural limitation to make people are able to do things easier. Moreover, nowaday, technological stuffs are more affordable than in the past, people in all ages can access technology easily.
In addition, the development of technology stimulate the new route of retail purchasing. People tend to sell product via website and social media programm that save retailer lot of costs and provide them a lot broader market coverage through these channels. On the consumer's view, purchasing product online is a lot more easier, convenient and also saving their time. Chavit tirarattanakul 5280870
The improvement of technology is growing very fast. Every business has to stay focus and improve itself accordingly to the changes. Smart phone is another technological devices that had changed the lifestyle of people in these day. Many people implement the use of smartphone in almost every aspects of life. Hence, this could be a greater trend for marketers to reach customers. The advancement of technology could safe marketing cost and resources for marketers. Since, more and more customers have smartphone, they have higher chance to expose to the message from marketer, such as text message, multimedia message, email, direct telephone, and advertising on mobile application. This will only benefit markets who have competency and the ones who haven't will have harsh time looking for new jobs.
I think that this kind of shopping behavior is change for a while. People both old and new generation can adapt themselves and to the technological change which make all buying and selling process different from the past. I believe that the cause of change come from external and internal environment. For the external factor, nowadays the technology is growing so rapid. We can trade online by using our electronic equipment and spend less time observing in the store. So, the article said that mobile technology is redefined the retail stores which is true for my opinion. For the point that say the internal environment is change, all company seek to increase their profit for sure, so the way to do this is to response consumer need , gain experience , educate new information to consumer ,and delivering value to consumer as good as possible. These create the cause of change because there is not only one competitor in the market. The ways that they compete change the definition of marketing in this era. In short, I believe that the cause that change and redefine retailers nowadays come from the change in internal and external environment.
Technology always has a great effect to the business world history. Especially, the world we live in today relies on the technology so much, and that is the reason why everyone has to invest in technology development without hesitation. It sounds uninvolved that technology also drives the changes of socio-cultural, but it did. Technology is now more affordable, reachable to different demographic groups because technology is globalized that get everyone in the world connected. the technological advancement, undoubtedly, has changes the way people shopped more and more. The shift from physical store to online store creates the win-win situation to both sellers and buyers. it is a very cost effective strategy from sellers to do, and the sellers will happy with online shopping because of the convenience .
In my opinion, the shopping behavior is changed because of the generation changed, so when generation changed, many things are changed not only buying behavior. Therefore, the cause of change came from external environment which is technology changed. physical stores are changing to be online stores, which people can buy products and check price easily, so they do not need to get out of home, and transporting to the physical store. Moreover, now internet is vey fast and it exists everywhere, so people behavior changed. In addition, when consumers preference changed, companies need to change too in order to meet the customers needs.
According to the given article, there are two cause of changes. Firstly, the socio-cultural change, referring to Blischok statement on the expected growing growth rate of ethic population which in the near future will lead to an increase ethnic shoppers. Secondly, there is also a technology changes in term of increasing utility of smartphone technology as a shopping tool which trigger the retailers to redefine their strategies. The routes of such changes derive from the changes in consumer behavior, market dynamic and technology advancement. Today, market is becoming more dynamic, technology plays an important role and with the growing number of generation y who relies heavily on mobile phone retailer need to adapt and redefine their strategies to meet the customer's needs
According to the article and Blischok, i strongly agree with him and also believe that with the silver or baby boomers market is the valuable market that is the consequence of the technological advancement this the technology change that obviously impact to the retailers and also the silver market as well. in terms of silver market, with technological change it make they live longer and also consider more on health and wellness. on the other hand, in terms of the retailer, with the technological change that usually make retailer has more opportunity to reduce cost and also capture new market like online shopping market that also increase due to the technological change as well, so retailers might need to change to go along well with the new and advancement of the technological. another change that can be seen refer to the article is the socio-culture change which in my opinion it is usually the consequence of the technological change as well. for example, with the technological change that usually make the medical care more effective and make the silver or baby boomer live even longer and also make them usually concern about health and wellness as well. in terms of retailer, they strongly need which are the consumers need due to the change and need to find or figure it out to go along and find the opportunity to deal and find profit from it as well that eventually make the retailers industry will change eventually.
i agree with the article when the writer talk about how the baby boomers and the silver societies are valuable for the market generations today. this is happening because of the change and the shift that is taking place in technology. this is allowing the people to interact with each other in a more integrated manner. this has a great impact on the retailer as well. with the change in the technology the cost of the food from the retailers will decrease. the change in technology will bring about online shopping that is increasing at a fast speed now a days. this will help the retailers to capture a new group of customers mostly the ones who are tech savvy.
In class we had touched a various different aspects of "Change" and one of the most important and dominant reason behind this change is the Tehcnological change that has taken place. People wake up with Facebook tags on their images of last nights parties, Write a status and get together with the people who comment for Coffee, Check in using Facebook, Instagram their pictures, Tweet about the taste of the coffee shop, and sleep by checking a Youtube video song after reading a Whatsapp from a friend. this is the change we have faced. Things have become more "mobile" and not stereotypical anymore. The cause of change has been the media, the TV, the trend of saving time with new technology. Time and Money always go hand in hand. People want to save time to earn more money, and thats made people spend more time on their selves as they do have some free time now and thus this has caused people to buy Online and use Social media as a tool to buy things as it saves their time. Navneet Agarwal 5180008
Yes, I totally agree with the author that baby boomers and grey societies have played an important roles in marketing since they have abilities to buy the products; for example, they have stable income; however, marketers have to know that they are more educated and savvy.
By the way, our class had pointed out the "Change" that can cause marketing activities, action, and market behavior. The noticeable change that seen clearly impact the market is of course the external environment, "Technological Change" like the article stated, and this is inevitable since consumers today live with technology, they have to be with the technological devices along their daily lifestyle as it is more convenient. Consumers can browse to the products they want by store's website and know its function and information without going to the store. For example, American people prefer buy things from Amazon rather than going to the mall since it is more convenient and cheaper. Likewise, Thai people browse to Ensoco to shop online or looking for promotional products rather than going retail stores. Therefore, retailers today have to accept this change since the world is changing, so they should be prepare for the change, set the easy changeable policy for distribution. In my opinion, retail stores today can come up with online shopping for some items; for example, Coach Thailand can post its detected or out of collection products on website which more cheaper price that usual, so this can help Coach save the cost of taking back those out of collection items to its manufacturer, as well as some new collection products on the Coach Thailand website, so Thai people do have to wait for a long time of delivery from USA.
All in all, it is not only the retailers that should change or adapt some ways to follow the societies, but all members (stakeholders) have to be responsible here, as well.
According to the article, the change which occurred is the technology change, and I am pretty much agree with Blischok about the changing of retailers in the future. It is due to the technology that help people to do shopping easier than the past that we need to go to the physical stores, but now the technology will help customers to shop anywhere and anytime. It is created the 24/7 shopping behavior. However, the technology also makes customers more beware of the products since it is in the online, so they can't touch or feel, so it creates the risk to them either. They will become more information seekers to make sure about the products that they are going to purchase it really good or not. One good thing about the online retails is the cheaper of the products since the sellers do not need to place the products at the stores, so they can save the transportation cost and the slotting fees. In addition, the silver society or grey market which now becomes the valuable market because they have more purchasing power due to the retirement, they tend to live longer and more health conscious. They prefer the convenient. Therefore, from the change of the consumer behaviors, it forces the retailers to change themselves to respond accordingly.
According to the article, as the change of environmental which it leads to affects the change of technology also, retailers have to study and understand of the change of the imbalance of age and gender. Tis means that retailers should look at the change carefully to adapt or adjust and apply to their shop and product. As Blischok mention that Baby boomer and grey societies take a major role in marketing, and if we look into the world today, we can see that the birth rate or population is less than the baby boomer population. As a result, the willingness to pay or the market of the gray societies will be higher than others segments.
To the effect of the chsnge of technology, it will leads to the change of the marketing activites, marketing plan, and consumer behavior. The technological change and make consumer getting more convenience in the purchase situation. It help them to shop easier than the past because they do not have to go directly to the store, they can shop online without transportation cost. As a result, it will help retailers to gain more revenue when they focus on the most valuable market, grey societies and baby boomer.
According to the case, the changes mentioned are technological change and cultural change. Nowadays the technology advances very fast and it changes the way business works. Mobile phone has become an important part in retailers' success since it creates new opportunities to serve consumer needs. Physical stores are no longer everything that consumers look for, but it is the whole shopping experience from online shopping on mobile phone to physical stores that consumer considered. Retailers have to be responsive and develop marketing strategy considering the advancement in technology in order to compete with competitors.
For the cultural change, the population of ethnic groups such as Hispanic and Asian are rising as well as the population of 65-years-and-older population. Retailers have to take the needs of these different groups in consideration as they would represent big opportunity in the future. Definitely, the health and wellness would boom due to the increase in number of senior citizens therefore, marketers have to response to those changes in order to capture the opportunity. Meena T. 5280712
There are two significant changes which are technological and socio-cultural changes. For technological change, nowadays technology has become one part of people lives and also play important role in business roles as it has much more influential to us. Technology also opens up new way to implement and enhance business in many ways. For example, there are many businesses that have only online stores through social networks such as Facebook and Instagram which help them to save cost and also convenience for consumers. Moreover, technology can be a tool for differentiation in the market. Or socio-cultural change, as there are many groups of people according to age, ethics, and so on in today world lead to emerging of many new markets and good opportunity for business players.
The changing that the article mentioned on is the more significant of mobile technology that play a huge role in retailing and many kind of businesses as the behaviors of people are changing fast. More and more devices will be online and more potential customers will increase dramatically in just five years. Any business that not follow this fast growing online market will be automatically lose great opportunity to make more sales and therefore profit. Customers today has access to information easily and they can also switch over to other shops easily depend on the shopping experience a store could provide that then become to customers' solution. Therefore, it is very important for marketeer to focus on the marketing through merchandising and through technology carefully as it could be winning edge to gain more than your competitors.
The article substantiated that the paradigm shifts of technological changes are what strengthening the purchasing power of silver societies or the baby boomers since they are the one with strong financial capabilities or at least in their mature state of career structures. And also because of the ease of access to information that is increasing these groups to acknowledge on factors that they don’t usually think much of such as well-beings or convenience or even interactions, the firms should be ready and prepare for changes and adaptation. It is foreseen that the equation of consumer’s market channels would not be reverted, yet the point of focus will change most likely from objectivity to more subjectivity. Sawang 5280815
In fact, there are two causes of changes which are technological advancement and sociocultural changes. To be able to survive with these value migrators, retailers have to come up with new proposal to satisfy new demands of customers. Due to technological advancement, customers have more accesses to the brands and products, and they are also more scrutinizing with the brands. Thus, brands have to focus more on online websites and brands communities to drive sales to the brands. Moreover, the change in socio-cultural is another change that brands have to consider since each group of customers has different pattern of behavior, so they would become repeat purchasers or advocate loyalty if well satisfying them. To do this well, it requires marketing intelligence to make effective strategy.
In my opinion, I do agree with Thom Blischok suggested that later in the near future, the form of retailers would change. This is due to the fast pace improvement of high technological innovation products like turning a normal phone into a small computer that we can carry through anywhere and update status with friends through facebook, line, whatsapp and many other applications through our device. The new generation are adopting the new technology in a very fast pace. In fact, the users are requiring more and more from the new innovation products like Samsung or Apple when they are having there WWDC presentation every once a year. Further more, there are many benefits through online shopping. For example, due to there no longer physical shops that the retailers might have to invest a lot of money to make its store looks nice and attractive to customers, there is always a cost on every single movement from the seller, of course the seller is going to add all these cost to the product that they are selling it to the final customers. On the other hand, If later most of the things are purchase through online retail stores, there are no such cost of make the store to look nice! The firm could even use that money to reinvest in its R and D to improve the product itself even more.
ReplyDeleteAll in all, I do agree with what Thom Blischok mentioned in this article here. In fact I think it might even reach to us faster than we thought or expected.
It is a fact that the population has slowly come to an imbalanced figure in the recent years. Despite the slowing of the population growth, retailers would have to cope with such change as well. Retailers have come to realize that due to the population’s imbalance, there are much more elders than before and yet those elders actually have much more purchasing powers. This could affect how retailers respond to such change. The way elders purchase products differs from younger generations. Moreover, the change retailers are currently changing is to focus on the use of mobile technology. Such mobile technology tends not to be easy in terms of implementing it. Not all retail stores are able to cope with the shift of mobile technology in the near future. In fact, to be able to become a responsive store would not only need the retailers to open up either mind in terms of accepting those changes but yet to also let the elders whom has the purchasing powers to be learn the technologies retailers are about to implement. Although such implementation can be hard but in the long run, it is rather healthy for the company and in fact, the trend of internet users are increasing recently, such change can make companies to be successful later in the years.
ReplyDeleteAccording to the article, the causes of changes are mainly due to mobile technology as a primary force that drives the change and the socio-cultural in term of the increasing number of Hispanic, Asian, and the aging Population as incremental role to drive the change. Technology has become more accessible and affordable to different demographic groups. It is mentioned that the technologically advanced retail tools would be important point of entrée to serving each of those demographic needs. This indicates that the route of change to follow the route of Technological-Socio-cultural: Human and social development. It is also expected technology would be the main contributing factor in winning the retail industry through merchandising and marketing. In addition, the retailers would have focus more on the shopping experience to serve these different groups of ethnicities.
ReplyDeleteSakotkarn Thanadsornsarn 5380242
DeleteMainly there are two causes of change which are technological change and sociocultural change. The change in technology is that currently there is an advance in technology and smartphone are now being used as a shopping tool. More and more people have an access to internet. The second major cause of change is a tremendous increase in various demographics such as there will be a 41% increase in the population of the Hispanic group, 37% in Asian and there will be more Baby Boomer whose age is more than 65 years old and are very wealthy and have a lot of money to spend in total about 11 trillion of wealth. These two changes are major changes that are happening in the market now according to the article.
ReplyDeleteWith the route of change, according to the framework discussed in class we can see change as a new value demanded by customer and these value will be proposed by our competitors. And in order to remain competitive in the market, the company need to identify the new value that will satisfy the new demand. The firm need to look at their competency whether they have the competency to satisfy these new value demanded by customer.
For example in this case, with the change in demographic and the the advancement of technology these two changes are the value migrator. They change the rule of the game, and we can see that more and more companies are having their merchandising and marketing of health and wellness products and services through technologically advanced retail tools. These are the new value proposed by competitors. As a company we are the value decider, we have to decide which value will we providing to the customers. In order to be competitive we need to provide superior performance than the competitors or at least we should provide the values that are proposed by our competitors. We should identify the needs of each customer group and provide sufficient education in order to educate the customer and deliver the solution to the customer.
Titinun S. 5280330
Changes mentioned in the article come from two major routes. The first change mentioned is about the shift in technology and how it impacts consumers’ way of shopping. This is a part of the 1st major route which is about technology, economy, and the market. It was caused by the advancement of mobile technology and it leads to the expand of market where consumers can get the product real time and wherever they are and it can also leads to an efficiency of the supply chain. Retail shops might get affected so they should react to this and make shopping as an experience and incorporate technology to their operation. The next changes mentioned is about the shift in demographic where there will be a higher number of people in the older age group and an increase of Hispanic and Asians population. This is a part of the 2nd route, political, legal-economic, and Socio-Cultural. Because of immigrations, there are a high number of people from many ethnic backgrounds, while much technological advancement helps people to live longer (However, it doesn’t mean that they are healthy). This could be a potential target market for marketers to focus on, since they keep growing. The changes from the two major routes could also lead to the third one in which socio-cultural changes from the higher number of immigrants would bring about the new innovations and opportunities in the future.
ReplyDeleteNicha Kongsomboon 5380020
There are two major causes of changes which are the technology and socio-cultural.
ReplyDeleteNowadays, technologies are all around us. From the morning until night we are deal with technology. Mobile technology expand in the market and consumer rely on it more than before. Furthermore, there are many retail shops that use the benefit of mobile technology to increase their sales and also make the customer be more convenience when they are shopping. Moreover, customers be more enjoy shopping when the retail corporate mobile and technology together.
The second change is socio-cultural. People from different part live together in the same world. They come from different background and ethnic. So these technology help these people live in the world easier. While the number of people are increasing the role of technology has to find the opportunity and support the demand of the customer. They will give win win situation.
Thanika Wongwanich 5380042
This comment has been removed by the author.
ReplyDeleteAccording to the case, there are two main cause of change which are technological change and socio cultural change. For technological change, nowadays mobile phone and technology become one of necessary thing in our daily life. We do many things via mobile phone such as chatting or even buying stuff from mobile phone. This change our shoppig behavior from physical store into online store because of convenient. You can buy products whenever you want without closing time. Therefore, many retailers move to focus on selling product online. They can sell all the time and they do not have to pay for the rent of the shop. Also, sellers do not even have to pay for keeping the product anymore. For socio-cultural change, people in society come from different culture, country and so on. However, it is not an obstacle in communication anymore. Because of technology, it keep people that come from different background stay together easier.
ReplyDeletePassavee 5380038
It is right that technology becomes part of living. It leads to online shopping. Although the research show that elders have high purchasing power, sometimes technology is quite complex for them. The reason is that there are plenty of technological device and process or procedure that elders who want to shopping online have to deal with. It is not standardized process to do which discourage them to buy. However, there is an obvious advantage which is lower initial cost leading to lower selling price. Sellers do not invest a lot in physical stores in terms of decoration and employees training. As a result of this, cost that end consumers have to bear is not high.
ReplyDeleteIn addition, mostly elders behavior in terms of shopping is not simply brick and click, but they tend to be choosy and picky. According to the research showing that elders have higher purchasing power, elders usually take time to think and make decision whether the products are worth enough to pay at certain amount.
Rutsee Sanguansakpakdee 5280544
As today, technology has become the primaly factor that influence people daily life. Mobile phone now became a 33rd organ of people. People do many activities via mobile phone such purchasing goods, banking, booking and so on. The development of today technology has changed people lifestyle and culture in various way. In term of socio- cultural, technology can expand the limitation due to socio cultural limitation to make people are able to do things easier. Moreover, nowaday, technological stuffs are more affordable than in the past, people in all ages can access technology easily.
ReplyDeleteIn addition, the development of technology stimulate the new route of retail purchasing. People tend to sell product via website and social media programm that save retailer lot of costs and provide them a lot broader market coverage through these channels. On the consumer's view, purchasing product online is a lot more easier, convenient and also saving their time.
Chavit tirarattanakul 5280870
The improvement of technology is growing very fast. Every business has to stay focus and improve itself accordingly to the changes. Smart phone is another technological devices that had changed the lifestyle of people in these day. Many people implement the use of smartphone in almost every aspects of life. Hence, this could be a greater trend for marketers to reach customers. The advancement of technology could safe marketing cost and resources for marketers. Since, more and more customers have smartphone, they have higher chance to expose to the message from marketer, such as text message, multimedia message, email, direct telephone, and advertising on mobile application. This will only benefit markets who have competency and the ones who haven't will have harsh time looking for new jobs.
ReplyDeleteKrit 5380151
I think that this kind of shopping behavior is change for a while. People both old and new generation can adapt themselves and to the technological change which make all buying and selling process different from the past. I believe that the cause of change come from external and internal environment. For the external factor, nowadays the technology is growing so rapid. We can trade online by using our electronic equipment and spend less time observing in the store. So, the article said that mobile technology is redefined the retail stores which is true for my opinion. For the point that say the internal environment is change, all company seek to increase their profit for sure, so the way to do this is to response consumer need , gain experience , educate new information to consumer ,and delivering value to consumer as good as possible. These create the cause of change because there is not only one competitor in the market. The ways that they compete change the definition of marketing in this era. In short, I believe that the cause that change and redefine retailers nowadays come from the change in internal and external environment.
ReplyDeleteTanakorn Toonkumthornchai
5280850
Technology always has a great effect to the business world history. Especially, the world we live in today relies on the technology so much, and that is the reason why everyone has to invest in technology development without hesitation. It sounds uninvolved that technology also drives the changes of socio-cultural, but it did. Technology is now more affordable, reachable to different demographic groups because technology is globalized that get everyone in the world connected. the technological advancement, undoubtedly, has changes the way people shopped more and more. The shift from physical store to online store creates the win-win situation to both sellers and buyers. it is a very cost effective strategy from sellers to do, and the sellers will happy with online shopping because of the convenience .
ReplyDeleteThanawat Lumveerakul 5280542
In my opinion, the shopping behavior is changed because of the generation changed, so when generation changed, many things are changed not only buying behavior. Therefore, the cause of change came from external environment which is technology changed. physical stores are changing to be online stores, which people can buy products and check price easily, so they do not need to get out of home, and transporting to the physical store. Moreover, now internet is vey fast and it exists everywhere, so people behavior changed. In addition, when consumers preference changed, companies need to change too in order to meet the customers needs.
ReplyDeleteAccording to the given article, there are two cause of changes. Firstly, the socio-cultural change, referring to Blischok statement on the expected growing growth rate of ethic population which in the near future will lead to an increase ethnic shoppers. Secondly, there is also a technology changes in term of increasing utility of smartphone technology as a shopping tool which trigger the retailers to redefine their strategies. The routes of such changes derive from the changes in consumer behavior, market dynamic and technology advancement. Today, market is becoming more dynamic, technology plays an important role and with the growing number of generation y who relies heavily on mobile phone retailer need to adapt and redefine their strategies to meet the customer's needs
ReplyDeletelaksina 5280096
DeleteAccording to the article and Blischok, i strongly agree with him and also believe that with the silver or baby boomers market is the valuable market that is the consequence of the technological advancement this the technology change that obviously impact to the retailers and also the silver market as well. in terms of silver market, with technological change it make they live longer and also consider more on health and wellness. on the other hand, in terms of the retailer, with the technological change that usually make retailer has more opportunity to reduce cost and also capture new market like online shopping market that also increase due to the technological change as well, so retailers might need to change to go along well with the new and advancement of the technological. another change that can be seen refer to the article is the socio-culture change which in my opinion it is usually the consequence of the technological change as well. for example, with the technological change that usually make the medical care more effective and make the silver or baby boomer live even longer and also make them usually concern about health and wellness as well. in terms of retailer, they strongly need which are the consumers need due to the change and need to find or figure it out to go along and find the opportunity to deal and find profit from it as well that eventually make the retailers industry will change eventually.
ReplyDeletei agree with the article when the writer talk about how the baby boomers and the silver societies are valuable for the market generations today. this is happening because of the change and the shift that is taking place in technology. this is allowing the people to interact with each other in a more integrated manner. this has a great impact on the retailer as well. with the change in the technology the cost of the food from the retailers will decrease. the change in technology will bring about online shopping that is increasing at a fast speed now a days. this will help the retailers to capture a new group of customers mostly the ones who are tech savvy.
ReplyDeleteIn class we had touched a various different aspects of "Change" and one of the most important and dominant reason behind this change is the Tehcnological change that has taken place. People wake up with Facebook tags on their images of last nights parties, Write a status and get together with the people who comment for Coffee, Check in using Facebook, Instagram their pictures, Tweet about the taste of the coffee shop, and sleep by checking a Youtube video song after reading a Whatsapp from a friend. this is the change we have faced. Things have become more "mobile" and not stereotypical anymore. The cause of change has been the media, the TV, the trend of saving time with new technology. Time and Money always go hand in hand. People want to save time to earn more money, and thats made people spend more time on their selves as they do have some free time now and thus this has caused people to buy Online and use Social media as a tool to buy things as it saves their time. Navneet Agarwal 5180008
ReplyDeleteYes, I totally agree with the author that baby boomers and grey societies have played an important roles in marketing since they have abilities to buy the products; for example, they have stable income; however, marketers have to know that they are more educated and savvy.
ReplyDeleteBy the way, our class had pointed out the "Change" that can cause marketing activities, action, and market behavior. The noticeable change that seen clearly impact the market is of course the external environment, "Technological Change" like the article stated, and this is inevitable since consumers today live with technology, they have to be with the technological devices along their daily lifestyle as it is more convenient. Consumers can browse to the products they want by store's website and know its function and information without going to the store. For example, American people prefer buy things from Amazon rather than going to the mall since it is more convenient and cheaper. Likewise, Thai people browse to Ensoco to shop online or looking for promotional products rather than going retail stores. Therefore, retailers today have to accept this change since the world is changing, so they should be prepare for the change, set the easy changeable policy for distribution. In my opinion, retail stores today can come up with online shopping for some items; for example, Coach Thailand can post its detected or out of collection products on website which more cheaper price that usual, so this can help Coach save the cost of taking back those out of collection items to its manufacturer, as well as some new collection products on the Coach Thailand website, so Thai people do have to wait for a long time of delivery from USA.
All in all, it is not only the retailers that should change or adapt some ways to follow the societies, but all members (stakeholders) have to be responsible here, as well.
Suwisa Wattanasin 5280765
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ReplyDeleteAccording to the article, the change which occurred is the technology change, and I am pretty much agree with Blischok about the changing of retailers in the future. It is due to the technology that help people to do shopping easier than the past that we need to go to the physical stores, but now the technology will help customers to shop anywhere and anytime. It is created the 24/7 shopping behavior. However, the technology also makes customers more beware of the products since it is in the online, so they can't touch or feel, so it creates the risk to them either. They will become more information seekers to make sure about the products that they are going to purchase it really good or not. One good thing about the online retails is the cheaper of the products since the sellers do not need to place the products at the stores, so they can save the transportation cost and the slotting fees. In addition, the silver society or grey market which now becomes the valuable market because they have more purchasing power due to the retirement, they tend to live longer and more health conscious. They prefer the convenient. Therefore, from the change of the consumer behaviors, it forces the retailers to change themselves to respond accordingly.
ReplyDeleteChalisa 5280418
According to the article, as the change of environmental which it leads to affects the change of technology also, retailers have to study and understand of the change of the imbalance of age and gender. Tis means that retailers should look at the change carefully to adapt or adjust and apply to their shop and product. As Blischok mention that Baby boomer and grey societies take a major role in marketing, and if we look into the world today, we can see that the birth rate or population is less than the baby boomer population. As a result, the willingness to pay or the market of the gray societies will be higher than others segments.
ReplyDeleteTo the effect of the chsnge of technology, it will leads to the change of the marketing activites, marketing plan, and consumer behavior. The technological change and make consumer getting more convenience in the purchase situation. It help them to shop easier than the past because they do not have to go directly to the store, they can shop online without transportation cost. As a result, it will help retailers to gain more revenue when they focus on the most valuable market, grey societies and baby boomer.
Rut Poolchan 5280342
According to the case, the changes mentioned are technological change and cultural change. Nowadays the technology advances very fast and it changes the way business works. Mobile phone has become an important part in retailers' success since it creates new opportunities to serve consumer needs. Physical stores are no longer everything that consumers look for, but it is the whole shopping experience from online shopping on mobile phone to physical stores that consumer considered. Retailers have to be responsive and develop marketing strategy considering the advancement in technology in order to compete with competitors.
ReplyDeleteFor the cultural change, the population of ethnic groups such as Hispanic and Asian are rising as well as the population of 65-years-and-older population. Retailers have to take the needs of these different groups in consideration as they would represent big opportunity in the future. Definitely, the health and wellness would boom due to the increase in number of senior citizens therefore, marketers have to response to those changes in order to capture the opportunity.
Meena T. 5280712
There are two significant changes which are technological and socio-cultural changes. For technological change, nowadays technology has become one part of people lives and also play important role in business roles as it has much more influential to us. Technology also opens up new way to implement and enhance business in many ways. For example, there are many businesses that have only online stores through social networks such as Facebook and Instagram which help them to save cost and also convenience for consumers. Moreover, technology can be a tool for differentiation in the market. Or socio-cultural change, as there are many groups of people according to age, ethics, and so on in today world lead to emerging of many new markets and good opportunity for business players.
ReplyDelete5280896 Nuttakorn
The changing that the article mentioned on is the more significant of mobile technology that play a huge role in retailing and many kind of businesses as the behaviors of people are changing fast. More and more devices will be online and more potential customers will increase dramatically in just five years. Any business that not follow this fast growing online market will be automatically lose great opportunity to make more sales and therefore profit. Customers today has access to information easily and they can also switch over to other shops easily depend on the shopping experience a store could provide that then become to customers' solution. Therefore, it is very important for marketeer to focus on the marketing through merchandising and through technology carefully as it could be winning edge to gain more than your competitors.
ReplyDeleteUchukorn Nala
5180656
The article substantiated that the paradigm shifts of technological changes are what strengthening the purchasing power of silver societies or the baby boomers since they are the one with strong financial capabilities or at least in their mature state of career structures. And also because of the ease of access to information that is increasing these groups to acknowledge on factors that they don’t usually think much of such as well-beings or convenience or even interactions, the firms should be ready and prepare for changes and adaptation. It is foreseen that the equation of consumer’s market channels would not be reverted, yet the point of focus will change most likely from objectivity to more subjectivity.
ReplyDeleteSawang 5280815
In fact, there are two causes of changes which are technological advancement and sociocultural changes. To be able to survive with these value migrators, retailers have to come up with new proposal to satisfy new demands of customers. Due to technological advancement, customers have more accesses to the brands and products, and they are also more scrutinizing with the brands. Thus, brands have to focus more on online websites and brands communities to drive sales to the brands. Moreover, the change in socio-cultural is another change that brands have to consider since each group of customers has different pattern of behavior, so they would become repeat purchasers or advocate loyalty if well satisfying them. To do this well, it requires marketing intelligence to make effective strategy.
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