How are new realities shaping the future of the consumer market? Why is customer satisfaction necessary? How communication and relationship building have empowered consumers to have power over providers? What is the role of technology in making people more aware?
Baalbaki emphasized that customers are the main force behind business management, marketing and philosophy. Technology has assisted consumers realize the control and influence they have over businesses. Customers now demand satisfaction and value for their money. He suggests that we are in the age where the power is invested in technology because it has introduced consumers with plenty of opportunities i.e. business models and mobility. He further states that on one hand technology has introduced flexibility, but on the other hand it has reduced the human face-to-face interaction. Innovation in technology has enabled consumers to progress from conventional practices models to more value oriented models. Businesses and companies still sticking to old models are more likely to lose customers and market leadership.
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