Consumer Markets Across Industries

Consumer Markets Across IndustriesSudane AtkinsonAC 1.3 Evaluate the relevance of consumer markets in the intentnessConsumer markets is delimitate by businessdictionary.com (2016) as Markets dominated by fruits and services designed for the familiar consumer, Consumer markets ar typically split into four primary categories consumer merchandises, food and deglutition products, retail products, and transportation products. With that said the relevance of consumer markets in the hospitality constancy will be identified and evaluated, this include long-term familys, appreciate and triumph, consumer orientation, and cling to chain then a conclusion will be worn-out about the significance of consumer markets in the hospitality patience.Listed below are the query findings on relevance of consumer markets in the hospitality industryLong-term kind create strong, even emotional, client connections to a brand that can choose to ongoing business (SearchCRM, 2016)Value and satis faction- this create customer rather than solely consumer because giving measure for money and exceeding expectation is what customer breast for.Consumer orientation is a key to achieve business goals. A unwavering can achieve marketing goals by concentrating on customer satisfaction through staff (cross, 2016)Value chain is to deliver maximum value for the least possible total cost and create a agonistic advantage (Investopedia.com,2016)Decision making is precise important as it depends on the type of investment and what the customer wants. (Bhasin, 2016)Customer husbandry it is said by LaPlante (2016) that you are likely to be influenced by advertising that appeal to your busy cultureConsumer market is very important in the hospitality industry as it is the structure that allows us to make bribes of goods and services. In consumer market conclusivenesss are based upon how involved the customers are (Bhasin, 2016). There are three purpose making process extensive, limite d and routine decision making process. big decision making process is used when the product is a very high involvement product, possible a high investment product as well example buying a house. Limited decision making process is used when limited decision is needed because you check some experience with the product .example buying a radio or a television and last the routine decision making a day to day life decision but in this slickness the customer is unlikely to switch to different brands because he wants to invest tokenish time in routine decision making(Bhasin,2016).The decision process may vary from time to time ,this likewise depend of the type of customer and the investment made. Long-term relationship create strong, even emotional, customer connections to a brand that can lead to ongoing business (SearchCRM, 2016), instead of management on one time sale, marketer focusing on getting loyal customers. In order to achieve a long-term relationship, the customer value and satisfaction much be met, but not lone(prenominal) met but exceeded, exceeding customer value and satisfaction also helps to husband money because is cheaper to retain customer than getting new ones (Beard, 2016).This brings us to the value chain which increases profits by creating value at each of the pentad product touch points so the value exceeds the cost associated with the product states (Investopedia.com,2016) .The culture of the customers is important to the consumer market as customer are likely to purchase a product with some or same cultural similitude as the targeted customer according to (LaPlante ,2016). The importance of customer orientation is that it focuses on the customer core needs and wants ,by exceeding the expectations and retaining customers through the staff.ConclusionIn conclusion, customer markets are springy to the hospitality as it helps to make the industry strive with the impeccable strategies that it holds and we practice. all the above contr ibutes to profits and gaining loyal customers with the relationship strategies that we practice turning regular consumers into loyal customer, decision making is vital as well as it put into perspective what the customer wants and how to soma on getting exactly that. Customer value and satisfaction is also important as it this is what the customer yarn for in a product value for money and satisfaction, giving them this will surly end positively. When marketing, we moldiness keep inconsideration that there I a diversity of sight with different culture so or marketing strategy must(prenominal) appeal to the culture of the target market. Customer orientation aid in developing a quality product appreciate by consumers businessdictionary.com (2016) stated. wholly the about consumer markets are all important in their own modality to help promote and market the product with the customer satisfaction in the midst of consideration.