Why is it important for a company to take a consumer oriented view of business?

Answer 1

Any company needs to focus on consumers' perceptions if it wishes to be successful and remain operating in today's competitive environment. Therefore it is crucial to concentrate on how the consumers see the company and its products or services. This ranges from the company image and reputation, to the more tangible attributes and quality of the products and services.

If a company is seen to be a positive institution in society, customers are more likely to buy its products or services. That is why it is important to invest in environmental campaigns and sponsorships for example. It is also important to create a good logo or brand name which is easily identifiable and memorized, in the midst of the several similar products on the market. In this respect the label and packaging is also crucial.

Other important aspects of a firm that customers notice are the friendliness of the staff, the layout and cleanliness of the premises or shops, the quality of the customer service and after sales service provided, and other tangible aspects of the business.

Customers also give a lot of importance to adverts. Marketing campaigns are consequently very important to produce a good and effective image of the company and its products and services. Adverts should be frequent, informative and interesting. Methods of advertising vary in type and cost and a firm should try to concentrate on reaching to the consumers who will most likely be interested in the product or service. It is very important to study consumers and make sure to select a target market to ensure sustainability and success.