Question

Option 7: Choose a market or submarket on which to focus, and identify a current trend in that market. Why do you think it is a real trend and not a fad? What are the drivers of the trend’s future growth? What uncertainties might affect your forecast? Can you identify another current trend in the same market that you think is actually a fad?

Answer 1

The current trend in the market for the year 2020 is "WORLD CLASS CUSTOMER EXPERIENCE".

The reasone behind of thinking that is it is real trend and not fad is that the the companies are providing customers is fantastic customer service expericence. Which makes the customer coming back for more services. When the business tries to build a positve business culture and gives a greater service the market makes sure that it also takes care of itself. In todays world the whole market is dependent on customer satisfaction. Because we all know that if the companies are unable to provide better service then customers will never return. Therefore it is a real trend in today's competative market.

The future growth of this trend are:

1. The number of customers will increase.

2. Companies or business will always take the customer's as their first priority.

3. More business opportunity will be available for expanding in the market.

4. If the customers feedback is good then it might happen that business will get a better opportunity to showcase their new innovative ideas or products.

The uncertainties that can happen are:

1. Customers demand can shift any time.

2. Unsatisfied customers can lead to lower in demand.

3. Bad feedback can lead to less business and the business might have to shut down.

Strategic Marketing Transformation trend is actually fad. The reason behind the trend can be said faid is that every time the startegies can are taken to capture the market might not work. Market keeps on changing every time. The demand of customers can also change any time. Therefore, either the companies need to make stratigest which is flexiable or go along with the market without implementing any strategies. Making strategies for market transformation does not guarantee a successful business, if it cannot adapt the changing market environment.