Which of the following best explains why consumers have greater power and control in today's marketplace?
A)The production concept and competition have lowered prices.
B)Implementation of the product concept has resulted in continually improving products.
C)Customer-driving marketing creates products and services that meet customers' future needs.
D)More companies are implementing societal marketing and weighing long-run costs and benefits.
E)Through new communication technologies,customers have more access to information and more methods of sharing their opinions with other customers.

Question

Quizplus · Accepted Answer

Through new communication technologies such as social media and online reviews, customers now have more access to information about products and services and more methods of sharing their opinions with other customers. This gives them greater power and control in the marketplace as companies must listen to and respond to their feedback in order to maintain customer loyalty and satisfaction.

Which of the Following Best Explains Why Consumers Have Greater