Page 51 - UDYAMA FINAL final for web

Sharing Economy will not hesitant to switch given a Communicate via Social
better value proposition from a Media
Gone are the days people want to competitive brand. Huawei and
own assets. Todays consumers are Oneplus is competing with Sam- Gone are the days business rec-
understanding the universal the- sung and Apple by delivering eived the feedback on a structured
ory of Diminishing marginal retu- more value at low price points form. Today, consumer experien-
rns. Airbnb, Uber are the latest similar to Nike, Adidas, VS getti- ce is shared instantly via social
disruptions of business models ng challenged every day with new media. Business can get visibility
where the sharing economy is brands even having a strong brand to a wider consumer group with
used to its fullest potential. Cons- presence globally. social media but being mere pres-
umers are moving to rent rather Mass Customization ence on platforms is insufficient.
buy and keep changing the expe- Social media needs to be managed
rience by interacting with multi- The days of mass manufacturing to ensure a good brand presence
ple products. for economies of scale or process and needs to respond to customer
driven services, are behind us. feedback. Negative feedback, wh-
Non Brand Loyal Consumers are demanding custo- en not managed, can put comp-
mized products and services and anies out of business or reduce
Todays consumers are more dri- unique personalized experience. sales drastically, especially if your
ven by value but the brand, brands 3D Printing is becoming the presence is digital.
are no longer able to sell based ultimate solution for us to produce
on brand loyalty as customers what we need.

January 2021 49