Entrepreneurs: Driving Change in Evolving Markets - Essay Sample

Introduction

Entrepreneurs are essential individuals in society as they play a crucial role in identifying an opportunity or a problem affecting society and coming up with the solution. The part involves understanding the market and coming up with the best products and services that will attract customers. Due to advancement in technology, entrepreneurs have witnessed various trends in the market share that requires them to change so that they can meet the changing demand of the customers in the market.

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Trends in Marketing

There are various trends in marketing that have also led to a change in the customers’ demand. This not only changes the entrepreneur’s approach to the market but also improves the behavior of the customers. Some of the trends include:

Virtual and Augmented Reality

In the past years, it is noted that augmented reality (AR) and virtual reality (VR) have populated and emerged to be trending in the marketing sector. These technologies have played a crucial role in ensuring that the customers can visualize the products that they want to buy before making purchases (Lavriša, Erjavec & Pravst, 2018). The customers can mimic and understand how they will use a product before going for it. For example, the customers can visualize what a given piece of furniture will appear like in their premises before making a purchase.

Through virtual reality and augmented reality, consumers have saved costs that they incur while going to entrepreneurs to view products. Also, it has helped in designing products according to the needs of the consumers (Štrach, 2018). The producers cannot incur an additional cost that is involved in coming up with products that the producer is not sure if the customers need the product.

Google Ads Smart Bidding

This has become an important marketing strategy that is being applied by various companies to achieve success. Google ads are essential features that allow the users of a computer to view products of a given company. It is a crucial feature since it helps to attract customers and inform them of the new products in the market (Subhashini & Kowsalya, 2020). Additionally, smart bidding has become an essential feature of marketing.

Google ads are critical features as they promote marketing through the use of machine learning that recommends products according to the preferences of the customers. Smart bidding has helped companies to set bids to change automatically when the sales begin and stop. Marketers have been able to schedule their activities and ensure that consumers get the products as needed and at the right time. This is has improved the relationship between customers and marketers (Lavriša, Erjavec & Pravst, 2018).

Content Marketing

Content marketing has populated the market and changed the outlook of marketing in various parts of the economy. It is even referred to as content is king (Argade, 2020). Consumers can search for products using content as the search engines are feed with enough material for the consumers. Content marketing has helped companies that have enough content to provide better services to consumers as they can want to understand the product more before making an informed decision on the product that they will buy (Subhashini & Kowsalya, 2020).

High-quality contents allow the entrepreneurs to show their expertise and communicate with authority to the customers on the best use and importance of the product. The content is noted to be the exact thing that the search engines provide to customers that are searching for the product online (Basit, Abbas, Nawaz, Mukhtar & Ul Haq, 2017). Thus, it is noted that most companies are high-quality content so that they can retain and acquire new customers.

Shoppable Posts

It with high regard that almost every business is using social media as their form of marketing. Due to its ubiquitous nature, it has become an integral part of online marketing (Subhashini, M., & Kowsalya, 2020). Also, they have allowed users to shop online through various applications that users can place their order and their products to be delivered at their doorsteps. Due to the advanced power that most customers use social media, it has made many entrepreneurs promote their business through social media. Social media has control over customers, and hence that is the reason why many merchants and consumers have embarked on using it. Social media sites such as Facebook have ways for e-commerce stores to create shoppable posts that make it easier for users to shop directly from these sites (Štrach, 2018).

Recommendation

As an entrepreneur, I will invest in shoppable posts. Shoppable posts have many customers since almost everyone is on social media, and hence it will become the best trend to use as an entrepreneur. The product will reach many customers that will be allowed to shop online, and their products will be delivered on their doorsteps as soon as possible.

References

Argade, S. L. (2020). Recent Trends in Marketing-MCQs.

Basit, A., Abbas, I. B., Nawaz, A., Mukhtar, H., & Ul Haq, I. (2017). Recent trends in marketing biotechnology. American Journal of Research Communication, 5(7), 60-73.

Lavriša, Z., Erjavec, K., & Pravst, I. (2018). Trends in marketing foods to children in Slovenian magazines: A content analysis. Public health nutrition, 21(18), 3344-3353.

Štrach, P. (2018). Emerging Trends in Marketing Communications: Personalization and Eventization. Marketing Identity, 6(1/1), 160-167.

Subhashini, M., & Kowsalya, M. (2020). RECENT TRENDS IN MARKETING ENVIRONMENT. Studies in Indian Place Names, 40(40), 439-446.