Presentation and Supplementary Report Assignment

Presentation and Supplementary Report - Assignment Example Organizations have to bear the high initial cost of acquiring and running the operations, but innovative developments in technology is shortening the life span of the previous one. This is leading the organizations to re-invest in current technology, and increasing the cost to the company. Apart from this, if today’s environment is considered, then the likes and dislikes of customers are also changing frequently. The fast altering opinions, lifestyle, and preferences pose a challenge for the manufacturing business organizations, as they cannot exactly estimate the preferences of their target customer group. Further, generation gaps in the society have also made it difficult for the marketers to determine the consumer behaviour. Companies are investing heavily on analyzing consumer behaviour, so as to determine the appropriate way of satisfying the needs of the customers. Business organizations are facing a two sided challenge, in which the first side is consumer preference and behaviour, on the other side is the cut throat competition in the market. The recession is certainly squeezing the spending of the consumers and the market of the companies. Countries like UK, USA slipped into deep credit crunch, which also led its companies both in public and private sector into the economic slowdown. This also indicates that the challenges faced by the organizations in the past are different from those faced now. The world is changing rapidly and the organizations are facing challenges like intense competition, rigorous ethical inspection, globalization, digitalized workplace, requirement for fast response, and increasing level of diversity. These mentioned challenges which are affecting the business organization are further affecting the society at large. Managers in organisations measure marketing performances for evaluating and analysing effectiveness and efficiency of the business. This can be accomplished by concentrating on the