Assignment on Management in a New Global Economy Essay

Assignment on Management in a New Global Economy - Essay Example All marketing functions are customer oriented and, ultimately, successful marketing is highly related to market analysis. All organizations need to conduct Market Surveys about the customers’ preferences and their perception about products and services. Before implementing any marketing plan, Organizations need to analyze the customer’s preferences and tastes. Marketing is the main reason for the existence of any business. Modern marketing environment is very competitive and all Organizations strive hard to create more customers and retain their existing customers. In this context, an Organization needs to maintain their customers by providing good product and services. Rapid changes in product lines would affect Sales and this will create good opportunities for the competitors and they can penetrate the market easily. So all organization need to take decisions carefully before implementing a change in their marketing. Organizations need to plan a strategy and study the possibilities and then implement changes as a test in some areas only and identify the customers’ reaction and feedback. In this case study Gourmet Direct implemented the product line changes without proper study and planning their intentions of reducing their Inventory and Distribution Costs. Lack of proper planning is the main problem in this study. Before implementing a changes in product line, an Organization needs to evaluate the idea and its possibilities in the market and the reactions of the customers. Secondly, an organization should evaluate their own resources and the competitors’ strategy on the similar products marketing. Finding the customers specification is also very important before implementing a strategy. In this case, the company wishes to conduct a Study about the customers’ preference and suggestions. The last step of a strategic change in