Impact of Marketing Strategies and Profitability on Organisational Development

Consumers are the ultimate source of revenue for companies and it is vital to understand consumers in order to gain a competitive advantage in the market. Researchers and practitioners have been delving into the study of consumer behavior for a very long time (Zhang & Zhang 2007). Consumers are connected in numerous ways that were not available before. Internet plays a vital role by connecting consumers through social networking sites, blogs, wikis, recommendations sites, etc. (Hennig-Thurau et al. 2010; Wuyts et al. 2010). The connections between the individuals represent one individual’s attention to the other. Some actors selectively pay attention to other actors, while in some cases everybody pays attention to one person’s opinion, for instance, a strong public figure (Lazer 2003).