Question

Using practical examples, discuss the key challenges facing companies in the twenty-first century in reaching consumers. What actions might marketers take to ensure they are attractive to consumers?

Answer 1

Ans

Current situation of business in 21st century

In the current changing environment the business require high innovation and new technology in the production function the business has to adopt new changes according to current environment the changes must be in each and every place weather in production function marketing function the marketing also requires new technologies such as online marketing advertisement on social media and creating awareness through ads on televisions the business has to adopt this techniques to increase the the demand of the product in the market the demand must be hight to survive in the market for long time if the demand is is low than the entrepreneurs must have to identify the environment then analyse the problems according to the need and wants if the demand of the product is is not in the market then the producer must be changed in the strategy or the the product dimensions for attracting the customer or increasing the demand

21st Century the business environment is so dynamic that change had become the order of the day. Managing such change in light of digitalization, globalization and through social inclusion is the need of the hour for every business manager

For standing in the current innovative market some challenges also increase due to introduction of global market and international trade within the country these challenges certain affect the business outcomes in many ways some of the challenges and problems faced by the businessman are

1 increasing competition

While standing in the market in current situation the the market is wide and it is the mixture of whole world the customers have wide choice in variety of of variety of goods due to globalisation and international trade on market to survive in the market for long-term a business need to compete in the market from many of the producers of of reducing the same line of product while standing in the market the producer must await their customers about the product details and the values of the product for attracting them towards them competition is one of the most challenging problem of each and every business in the current situation.

2 Generating awareness and driving traffic

While facing the the competition in the market the marketer main scope for surviving the market is to increase the demand of the good the only way to increase in demand of the good in the market is to creating the awareness and full information about the product and the values of that product in the market to attract the consumer towards product might want to get stuck straight into generating awareness and traffic, but before you can start generating leads for your sales team to convert into customers, you need to first make people aware you have a product or service on offer

3 Targeting effectively

For Survival the marketer needs to do is identify their key audience, determining who it is you should be marketing to. To catch your audience’s attention you need to offer some sort of value to them.by increasing the efficiency of the described production .

4 Using social media to generate customers and revenue

in the current situation each and every person is using the social media for interaction . Our youth and the population majorly use the social media for much of the time in the day so it is the best platform to a producer to advertise their product and generating the revenue or profit from advertisement of the product to creating awareness and attracting the towards product there is a need to target, engage and nurture your social networks, allowing you to build up a social following that you can use as a quality source of leads for your business.

5 Keeping up with marketing trends

For effective marketing and increasing the market share of demand of the product the producer need to adopt the dynamic environment and the trends which is developing provided that can only include to profit maximization Technology has introduced new tools that make communication with potential customers easier. Social media has risen as a dominant platform for communication and feedback collection.

6 lack of resources

there is scarcity of resources in the environment and with the increase in international trade or globalisation the production process increase that decrease the availability of resources in the production and the the environment problem arises with unavailability of resources. And then ultimately the producer become unable to produce the demanded product for the consumer at the given period of time.

For attracting the the customer the company must have to follow the given strategy

1Attract New Customers Using Social Media

For increasing and attracting the the customers towards the product the perfect advertisement is necessary for for providing information and awaring the customers of the product which is produced these guidelines on the clear description of the product provide full knowledge to the customer according to their need and helps the producer to attract the the new customers.

2 Improve Website SEO

Improving your website’s SEO, or Search Engine Optimization, can help you attract new customers. SEO is what help your business rank at the top of search engine results when people search for a product or service related to your field. SEO affects your website’s visibility on search engines

3 Engage with Loyal Customers

For increasing the reliability of the the product in the market and increasing the goodwill share the producer or the company members must interact with the loyal customers to to take their feedback on the use of product this encourages the customers trust and reliability on the product.

4 Collaborate with Local Business Partners

for expanding the business and for surviving in the market for long-term the the business man has to decrease the competition by contracting are collaborating with the local business partners by this process the competition will decrease and the efficiency of the the business will increase why this there is future chances of increase in profit ratio and expansion of the business.

6 Social Media Giveaways

Many companies attract the customers by providing giveaways on the social media to attract the customers towards providing free gifts or vouchers to them this creates a Goodwill of a company in the marketSome ideas for social media contests include giving away a gift card for subscribing to your email newsletter, holding a photo contest with your custom business hashtag on Instagram, and featuring the funniest video of your customers using your product on your Facebook account.