Is Consumer is the King in India?
All the success stories emphasize the fact that effectiveness of any marketing effort lies in the accurate identification of the consumer’s needs and satisfaction through service delivery. The present statement arise a very important and common topic for group discussion “Is the consumer really the King in India?”. Consumer is responsible for driving the market forces. For example, in sixties and seventies, there were two or three car manufacturers like Hindustan Motors & Fiat etc. Were ruling over the market. However, with the entry of new companies like Maruti Suzuki, Hundai, Honda and many more, those manufacturers are force to modified their products in accordance with the taste of the customers.
Every business house has one motive and that is to earn profit in addition to building a good customer relation. They are spending lots of money to understand consumer choice and demand and accordingly they produces the gods. Before launching the product into the rural market, many research is being carried out to understand the demand of the customer. This itself proves the strength of customer which any organisation can not overlook. Today there are many products available in the market and the customer can easily switch over to the other product if he is not satisfied. The market is driven by the customers rather than producers thus at this stage market segmentation techniques will play an important role to catch their customers back.
However, in some of the cases where monopoly exists, the customers has no choice but to accept the product as supply by its manufacturers. However, due to globalization and entrance of MNCs & FRT in our Indian market, the extent of competition has increased considerably and now the customers have multiple choice.
If an organisation if failed to understand the needs of customers and failed to produce the product as per the demand of the market, it is definitely going to heart the main object of the organization i.e. to earn profit. For this purpose several organisation has introduce the concept of supply chain management. Government has also passed the law for protection of the customer, which revels the importance of customer.
So in my opinion for “Is the Consumer really the King in India?” customer is really king, as customer will not change its demand but the company has to change its product according to the taste of the customers.
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