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Evolution of Consumption:An Insight into Consumer Derivatives and Marketing Implications
Consumers in the market search for a product/brand or something else? The concept of marketing involves identifying and satisfying customer needs and wants. As the dynamics of marketplace and environmental forces show a swift change, customer needs get redefined. The new marketing paradigm aims at comprehending the evolving customer needs and responds by providing a set of experiences to satisfy customers. Marketers strategise the elements of marketing mix in the realm of remarkable experiences where customers are involved at the cognitive as well as emotional level. The customer derives satisfaction out of the holistic experience and this contentment leads to customer loyalty. In the light of the marketing metamorphosis, the present paper seeks to understand the transformation of consumption into experiences.
Postmodernism, Experience, Experiential Marketing, Customer Engagement, Customer Satisfaction, Customer Loyalty.
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