Analyzing Consumer Markets

Analyzing Consumer Markets

Markets dominated by products and services designed for the general consumer. Consumer markets are typically split into 4 categories - 

• Consumer Products
• Food & Beverage Products
• Retail Products
• Transport Products

Industries in the consumer markets often have to deal with shifting brand loyalties and uncertainty about the future of the products and the services. In contrast to business markets, the consumer markets consists of buyers who buy on the basis of description, appearance, colour, style etc. This behaviour highlights the uncertainty factor in these markets.

Market Analysis

• There was a growing number of Malaria and Dengue cases that were being reported during the 1990's. This meant that there was huge opportunity to introduce a product that would help the people by protecting them from the carriers of Malaria and Dengue - Mosquitoes.
• Market was so wide that even the entries of competitors onto the field would only widen the market further, thereby increasing chances of AllOut sales even though the market share would come under jeopardy. 
• Today, the market is much more dynamic with a lot of players in the market.
• The buying power of people has increased from the days when it was launched.
• With increasing education and ease of access of technology, more and more people are becoming conscious about their health and well-being.
• Combining the above factors of ease of technology access,education and rising buying power, the market has become more accepting to goods and services which protect them from diseases and ensure their well-being.
• Conversely, because of the above mentioned factors, the market has become increasingly unpredictable and there is no certainty about the success or longevity of the product/service. The buying power gives the consumers the upper hand over the producers. This power gives them the option to pick an AllOut or a GoodKnight or a Mortein as a repellent. So it is very important that a very strong relationship be developed between the customer/consumer and the company. It is important to cater to the changing needs and maintain a healthy relationship with the customers to prolong the product's/brand's life.