What is the role of consumers in the market place?
What is the role of consumers in the market place?
Answer:
In the market economy consumer play an significant role. In a market economy, there is a lot of competition because manufacturers want consumers to purchase their goods. Once a company’s service reaches the market, the consumer often plays a part in the feedback data collection. The company required to monitor outcomes and actively monitor consumer needs after formulating the research strategy and launching the product or service, so that you can improve the service.
The role of a consumer in an economic system is critical because it is consumers who purchase goods. Marketing focuses on finding, serving and maintaining consumers. Until company makes something of value, they should first recognize the strong desire or need of prospective customers.
Answer:
In the market economy consumer play an significant role. In a market economy, there is a lot of competition because manufacturers want consumers to purchase their goods. Once a company’s service reaches the market, the consumer often plays a part in the feedback data collection. The company required to monitor outcomes and actively monitor consumer needs after formulating the research strategy and launching the product or service, so that you can improve the service.
The role of a consumer in an economic system is critical because it is consumers who purchase goods. Marketing focuses on finding, serving and maintaining consumers. Until company makes something of value, they should first recognize the strong desire or need of prospective customers.
