Broad Shifts in the Markets vs. Shift in Societal Force Essay Example

business environment. Kotler and Keller (2011) argued that: ‘Today the marketplace is radically different as a result of major and sometimes interlinking, societal forces that have created new behaviors, new opportunities, and new challenges.

In the time past, marketplace was considered a field where only buyers, sellers and the middle-men meet to interact or cause a business transaction to manifest with little or no regards to external factors such as information communication & technology, globalization, economic reforms’ tools (privatization, deregulation, subsidization and so on) and among others. The ongoing premium motor spirit (PMS) subsidy removal saga in Nigeria is a very good debate for the potency of social dynamics in the context of discourse in terms of how societal forces affect an organizational marketing strategy.

In like manners, security instability that presently dominates or characterizes Nigeria as a country, is another arguable perspective of interest which favors the unpleasantness that external factor could offer an organization as seen in market transitions. In view of these facts, Kotler and Kelly (2011) affirmed that organizations need to see it paramount to keep greasing their strategies in order to be able to withstand changes that could emanate from external forces.

Of a great importance, a couple of societal forces that have over time affected the dynamics of marketing and markets pattern as outlined by Kotler and Keller (2011), are discussed in the ensuing bulletins: * The evolution of information technology has adjusted and affected the philosophy and ideology of marketing in all ramifications, most especially, in the area of advertisement, product branding, and consumers’ drives to have first-class information per products or services of interest.

To buttress my point, so many SMEs,

DMEs and MNEs now sell their products and create awareness of their products and services through online (Thanks to ICT! ). By so doing, the rate at which market can be covered has tremendously improved. As such, organizations are advised to be sure of their products or services in terms of quality, human acceptability, among others prior to putting them on the pushcarts! Another important factor that is worth discussing in this regard is the economic reforms tools (privatization, deregulations & so on) that now dominate most countries governance strategies in the areas of per capital income, national foreign reserves, GDP to mention a few . In the bid to improve the quality of life by creating the right environment for firms competition (anticipated to improve the quality of life), most governments are now of the opinion that government owned industries should be privatized.

In a way, this has further heightened the type of competition seen in the today’s markets. Known examples in this context are, ‘British Airways and British Telecom in United Kingdom’, Kotler and Keller (2011).  The quality of information available to consumers of today has made them very smart and also, made their needs and wants as the most significant factors to be considered by organizations when developing products and services.

As seen in the present days, most organizations struggle to satisfy their consumers at all cost! Opinion-wise, this has really not been easy for most organizations because human beings are very difficult to be satisfied… To further strengthen my point here, organizations are forced to converge because they compete for the same market thus, strategic alliances (SAs), joint ventures (JVs), global subsidiaries to

mention a few are important terminologies known with most organizations.

Conclusively, the Chinese retail outlets in Hong Kong that possess hybrid properties (main forces behind exportation of domestics’ products and at the same time, responsible for coping and transforming foreign brands with very little cost to satisfy the local consumers within the Asian content and the World at large) is a transformation in retailing which that has affected Marketing tremendously (Dierkes et al (2003).