New business models result in greater consumer choice of products and ideas because these new ideas help firms and organizations improve their marketing styles. Knowing how consumers think, feel, reason, and pick between retailers helps companies figure out how they can better influence their product.
According to consumerpsychologist.com, the definition of consumer behavior is "The study of individuals, groups, or orgainizations and the processes they use to select, secure, use, and dispose of products, services, experiences or ideas to satisfy needs and the impacts that these processes have on the consumer and society."
Another important piece toward grabbing the audience's attention is through different marketing strategies. For example, companies will schedule food ads at the time of the day when people are most hungry. In addition, companies that have new products must be well off until their product gets revenue.
Public policy is also another huge deal. For example, in the 1980s a product called Accutane was made to help treat acne. While it was successful, people later found out that it was giving females birth defects. The FDA then announced this and put a picture of deformed babies on medicine containers. This can be looked at in the opposite way because the FDA stepped in which probably will shoo customers away from that specific product.
Social marketing these days also can be effective as well. Many companies are on facebook, and myspace which allows companies to get more ideas across to consumers rather then selling them something. All in all, I think that new business models have a greater result in consumer choice of products and ideas.
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