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Full Article
In the new day and age consumers are becoming more and more empowered in challenging retailers to meet their needs and demands in terms of price, service and convenience.
Traditionally marketers relied on ill informed consumers who didn't know the cost or performance of a product.
During the last decade it has become apparent that communications technology has empowered consumers in all aspects of marketing - but specifically in the purchase decision process. The customer decides many of the terms of sale too.
Many companies are now allowing their consumers to instantly compare prices and features of virtually any product. This dramatically reduces the cost for the consumer to find the best deal.
Marketing can therefore no longer be a one way process. Interaction between the consumer and marketer is crucial in order to achieve success. Consumers don't care what industry you are in - as long as you create value and make their lives easier. Consumers ultimately have the power because competition is just a few clicks away.
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