Marketing Realities in the New Environment

Abstract

The marketplace is changing rapidly and is different from what it used to be previously. Today's marketplace has access to more information, is more competitive, and customers are more empowered. The change has happened because of several societal forces that have resulted in new consumer and capabilities. The four major forces that are transforming the marketplace include technological changes, globalization, social responsibility, and consumer concerns about sustainability. The study discusses about the changes these forces are bringing in the marketplace. These forces are creating new challenges and opportunities and significantly changing the marketing environment. Companies require acknowledging the dynamic nature of the marketplace, major forces causing the changes, growing with the new marketing realities, and achieving business excellence.

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