As a matter of fact, one of the most comprehensive definitions of marketing was given by the American Marketing Association (AMA). According to it, marketing is “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large” (AMA, n.d., para. 2). Although all components of the marketing form consumers’ demands, they are also affected by their free choice.
As people may choose products offered by multiple marketers on the basis of the price-quality balance and individual preferences businesses should consider all factors in order to succeed. For instance, for the creation of offerings, companies currently analyze the target audience and its expectations shaped by age, gender, ethnicity, and socioeconomic status to meet people’s demands (U.S. Small Business Administration, n.d.). At the same time, when consumers are free in their choice, they tend to search for information concerning products with the help of various sources. including those ones that are traditionally used for communication. Thus, free choice associated with changing consumer behavior forces companies to “modify their marketing communication by implementing new forms and tools to gain the trust of customers and to influence purchase” (Kusa et al., 2021, p. 150). That is why marketers currently use advertising and direct communication with consumers via digital social media and communication platforms to customize offerings and reach as many clients as possible.
In addition, customers’ free choice affects the delivery of valuable goods as well. In a highly competitive environment, people do not want to wait for a long time or face inappropriate service related to product delivery. That is why companies not only try to optimize their supply chains but to ensure that customers may rely on them in the future if they require support using a purchased product.
References
AMA. (n.d.). Definitions of marketing. AMA. Web.
Kusa, A., Zauskova, A., & Cabyova, L. (2020). Effect of marketing communication on consumer preferences and purchasing decisions. Ad Alta: Journal of Interdisciplinary Research, 10(1), 150-155.
U.S. Small Business Administration. (n.d.). Market research and competitive analysis. U.S. Small Business Administration. Web.