Case ID: R1007M     Solution ID: 28613

Are You Ignoring Trends That Could Shake Up Your Business Case Solution

Abstract

It may be a crucial part of every manager’s job to clearly identify and understand the social, economic and technological trends especially if they are working in a consumer oriented business. However, the majority of them are not able to effectively gauge some of the trends that might have an indirect impact on their consumer’s aspirations, attitudes and behaviors, thus eventually leading to a measurable impression, but yet goes unnoticed by them. This in turn gives ample opportunities for rival to enter and tap the unfulfilled needs of the consumers. If we talk with respect to the impact of digital revolution, we can clearly see that it was hardly a revelation. However majority may not recognize that heavy digital users have an entirely different personality. For example, they tend to focus more on the short-term goals, demand immediate fulfillment and are expected to multi-task. Such insights hold importance to every company, whether they sell lipsticks or smartphones. The authors discuss a process which identifies the trends that could play a part in reshaping the business and also throws light on three key strategies that can allow them to create new value propositions. It talks about how to infuse aspects of the trend into the product category to increase the product’s traditional offerings in the same way the example of Coach did with his lower priced poppy bags illustrates. Moreover companies can attempt to amalgamate the known trends with the product attributes, which would tremendously reinforce the brand itself, as in the case of Nike+ sports kit and web service. On the contrary the same trends can be used by the company to in bringing those product attributes that challenges the status quo; iToys and its ME2 video game motivates children to be physically active.


Request Case Study Solution

Prepared by MBAs and CFAs according to your requirements


Words
Pages
Upload

 

Already Registered? Login here!

 

Order Summary

SubjectNot Selected
LengthNot Selected
Deadline Not Selected
Estimated Submission On
Total 0