Consumer Preferences in Marketing: Current Trends

Description

Udita Jain (Business Development Manager, Arihant Industries, Ambala, Haryana)

Marketing is a tool that has persistently acted as a driving force of business growth and the success of products and companies. Traditionally, it relied on simpler methods like word of mouth or television advertisements. However, with the advent of the internet and the development of the digital ecosystem, marketing has become significantly more dynamic and data-driven. Today, every aspect of a marketing campaign, ranging from budget allocation and audience engagement to content reach and target accuracy, everything has become accountable and measurable. Keeping this in mind, the aim of this paper is to highlight and discuss the importance and growing significance of consumer preferences in modern marketing strategies. It will also discuss some relevant examples of how companies have elevated their marketing strategy, revenue sources, and overall growth by enhancing their marketing efforts by taking into account what consumers are ultimately attracted towards. By doing this, this paper attempts to underscore marketing, informed by consumer insights and data, as a necessary ingredient in the contemporary business landscape for achieving sustained and exponential success.