BUS620-WK 2 Assignment

BUS620-WK 2 Assignment - 1 A New Normal Jennifer Baxter BUS...

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1 A New Normal Jennifer Baxter BUS 620 Managerial Marketing Professor Zobisch February 28, 2011
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2 Introduction The Apple iPod is no longer just a music playing device; it is a known icon of modern and popular culture. Since its release in 2001, the iPod has quickly taken hold of the hearts and minds of teenagers, and even the majority of the developed world. To this day, it has continually proven itself by maintaining its popularity despite changing trends, as well as continued to provide the quality and value that its name is so well known for. However, despite its continued popularity, the iPod’s future is up against a business environment in the coming years that will be significantly different to what might have been expected just two years ago. The financial crisis and the recession that has followed have altered operating conditions by imposing new challenges and exacerbating existing ones. Businesses are responding across the organization, moving to a more flexible, collaborative and leaner model. Amidst a financial crisis followed by a recession, the typical U.S. consumers are focused right now on buying less. However, when they do make purchases they are now focused more on seeking the best possible prices. It is for this reason, marketers need to remain aware of growing trends in the coming years and the impact those trends will have on consumer purchasing habits in order to ensure businesses are able to remain successful. Trends Impacting the Industry The environment in which businesses operate is changing fundamentally and the shape of business in five years’ time will be very different from what we see today. According to futurist and strategy consultant, Dr Codrington (2009), “The recession of the past few years has been more than simply an economic downturn. Important trends that were vaguely evident before 2008 have been accelerated and now threaten to change the world of work forever” (pg 1).
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3 Codrington contends, “There are at least five key forces that are shaping the world of work today, and causing disruptive change in every industry and sector; he outlines these five forces: 1. Technology – The power, speed and reach of computers is continuing unabated. We can expect remarkable leaps forward in medicine, genetics, robotics, energy and even space tourism
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BUS620-WK 2 Assignment - 1 A New Normal Jennifer Baxter BUS...

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