Case 5 consumer trends

In todays world of rapidly changing rentr trends, it is only wise that companies try to keep up with these modifications so as to remain in pedigree. This is largely because the consumer is becoming more concerned with the products they consume e. g. effects of luxuriously calories. The analysis of the fol mooing case study affirms this change in consumer trends. 1. Consumer trends The changing consumer tastes is mavin of the driving forces behind product innovation. This is epitomized by the recent consumer trends like low carb and going green.Trends like these puzzle forced companies to come up with products/processes that meet consumer demands. Like the dot com furor of late 1990s, the low carb and environment mindfulness are largely fuelled by customer awareness. These trends are usually force companies to align their products with the changing preferences. And is rightly so because companies that defy these trends whitethorn suffer drop in revenues. An manikin is the Ameri tolerate carmakers that belatedly adopted hybrid technology when their Japanese counterparts were already benefiting from the technology.Such trends lead to the marketplace flooding with similar companies has witnessed with the dot com bubble although the low carb and environmental preservation trends whitethorn persist because of the awareness of effects of high carbohydrates and environmental pollution. Most of the internet companies collapsed (Cable World 2001). 2. Threat to entrepreneurs The entry of perseverance giants like Dell and Gateway companies into the computer recycling business with salute problems to Stampp Corbin in the sense that he might deficiency used computers to resale. Legislations may also be passed that does not allow the resale and disposal of used computers.Such laws may require that computers of a certain age cannot be resold. Laws governing electronic waste from computers can substantially affect the business. The recycling of the computers b y manufacturers can lead to cheaper production of new computers such that entrepreneurs like Stampp Corbin may lack the market for the used computers. The sensitive information in the used computers may also pose a serious threat of lawsuits if it accidentally waterfall in the wrong hands. The package used to delete this information may not be effective in the long run with the instruction of new technologies that could hold data permanently.All the above factors can affect Corbins business severely. 3. Competitive advantage Retro Box Company is one of the pioneers of the electronic recycling business and hence the existence in the market for a long time leads to the company developing good business relations with the suppliers and customers also thus ensuring constant supply and availability of the market. other advantage is the ability of Retro Box to safeguard itself from lawsuits that may firmness of purpose from leaked information. The company has done this by developing t ailor made software that can erase such data completely.4. Protection from changing consumer preferences and laws whizz of the important factors that companies can do to avoid loss of business imputable to changing consumer preference is through innovation and anticipating future conducts of consumers. thereby the new product development will be guided by future consumer needs and expectations (PRNewswire 2008). The company also need to be aware of the effects that their products have on the environment and hence come up with innovative ways of dealing with there effects thus avoiding the need of regulations through laws which can be costly in the long run.Conclusion It is therefore paramount that companies embrace consumer trends through anticipating their needs and thus coming up with innovative products that keep up with changing preferences. References Cable World (2001). MSO defies dot-com trend-Against the Grain. Retrieved on 30/4/2008 from http//findarticles. com/p/articles /mi_m0DIZ/is_/ai_80191576 PRNewswire (2008). Food marketers challenged to meet consumer tastes in 2008. Retrieved on 30/4/2008 from http//www. reuters. com/article/pressRelease/idUS187846+29-Jan-2008+PRN20080129