Question

Research, summarize and describe how Peter Drucker's statement "The customer rarely buys what business thinks it sells him." to emerging markets. Make sure to provide an example of a product in an emerging market that uncovers the root causes of consumers' behavior by asking what people are trying to accomplish with the goods and services they use. Make sure you to look at alternative products.

Answer 1

Answer

✓ Peter Decker's statement "the customers rarely buys what business thinks it sells him", throws light on the important value of the customers I,e: satisfaction. A customer never buys anything without a value or without any need. He buys it to fulfill it and to ease his life. Manufacturers need to understand that whatever they are producing or providing to the people should meet or exceed their needs and those products must be able to compete with other products in the market. It is equally important that these products satisfy the people and are manufactured according to their needs.

Considering the example of MyGlamm European makeup brand, that understands what a customer requires and how the market attractiveness can be taken into account for providing something unique that overtakes all other alternative products. They provide great variety of products that are made for every skin type, that are easy to carry and most importantly, are made up of safe ingredients with no chemical, paraben, or any harmful things.

It's design and packaging is also so appealing and attractive that many women are switching from their favourite brands. It's social media presence and use of technology and e-commerce platforms really helped the brand to enhance their values and to understand what and how their customers feel about the offering.

Other rivals such as Lakme, HUDA, L'oreal, etc, are competing strongly, but, MyGlamm is trying every possible thing to stay ahead of the competition. They are great membership program, referral links with various benefits and offers and also demo vedios, for ensuring that they reach largest customers.