Consumer Power

Consumer Power

Introduction

“Customer is a King” this phrase is commonly known for many centuries in business world. However, deeper inside this phrase, the power to control almost everything in the market is still belong to the sellers. Sellers control the product price, quality as well as quantity in the market; and customers have to follow sellers’ rule. However, in the past who would think that customers would have much more power to negotiate or bargain with the sellers? But according to the advance in technology especially internet, which have created the different market, the power have began to shift from sellers to customers. Today, the market is driven by consumer. The way companies measure their performance in the industry is not only look at the product quality or service performance, but look at the customer satisfaction as well. Therefore, company business strategies have to focus on consumers much more than before and be able to adapt the strategy to reach changeable consumer satisfaction. However, this article will not focus on the business strategy for company but will focus on the consumer behavior, rapidly change due to the technology advance.

Power to choose product and bargain the price

The emergence