For class September 25

The assigned readings for this class session are all focused on the consumer. The consumer purchase decision and journey is what decides everything about the success of a marketer, so its very important to me and to everyone learning marketing. Three things that really stuck out at me during the readings were the history behind the consumer decision journey, the new use and importance of E-
WOM (Internet word of mouth) and company " moments of truth" which basically give a company the chance to make an impression to customers.

The first thing I found really interesting in the readings were the history behind consumer decisions. I had always thought that marketers and researchers had the upper advantage when it came to influencing consumers, but apparently that is not true. Because consumers had the leg up on purchasing power, companies have made recent changes to try to change that, where their marketing can influence people to buy. The updated action that businesses are taking include 4 steps that ultimately target the consumer. Those four steps include, engage experience through technology, use information about a customer, use knowledge about where the customer is in their journey, and to extend interactions through value and services.  Because customers have have the power right now, its very interesting to see how businesses can overcome that to gain control.

Another thing I found interesting in the required readings was the E-WOM, or internet word of mouth, and how big it plays in the consumers journey to purchasing. The biggest thing with the power of the internet word of mouth is that consumers are going away from traditional marketing and promotions, and simply wanna hear their peers experiences before purchasing similar   products. Because of this, brands are pressured to communicate through social media, as well as create really good products that are going to have high reviews and praises so other consumers buy. With big businesses like google+ and Facebook jumping in on the internet word of mouth, it is extremely important for a company's products to be good their, where millions of active users could be potentially listening to others experiences.

The last thing I found very interesting was company " moments of truth" that happen and ultimately define certain experiences. The Moment of truth is the contact point between companies and the consumer that overall give them a chance to make an impression. This is very important because like stated, its the "moment of truth" in which a company will bring a new customer in, or potentially fail to a competitor. What I found most interesting about this idea is how all big name companys are using moment of truths, like Amazon, Google, Facebook, and Proctor and Gamble, which all have heavily influences online.


3 questions:
If big companys like Facebook, Amazon, Google, and Proctor and Gamble use the importance of moments of truth and contact experiences, why wouldnt every business follow this model for success?

If customers have been in the drivers seat when it comes to purchasing power and influince, does that mean marketers have overall failed in recent years?

Will electronic word of mouth continue trending upward as the new way that consumers will purchase? if so what does that mean for businesses and their competitors?