Ahmedabad, Jan 9 (UNI) Experts attending the NIRMA International Conference on Management(NICOM) 2008, have warned that the corporate world will have to act swiftly in response to the challenges posed by the fast paced changes in customer behaviour and technology.
If corporate world does not pay heed to the demands of new business culture, they will face a grave threat to their existence, experts observed.
Delivering the key-note address at the three-day conference on ''Strategies and Trends in Marketing: A New Economy Perspective'' Professor of marketing Bently College USA Rajendra Sisodiya said that the dawn of knowledge era has opened up new vistas for marketing.
Mr Sisodiya added that changed customers, markets, products and technology have altered the way products and services are bought and consumed. Hence, marketers in the digital economy are forced to explore new ways of value creation and delivery.
As technology changes at a rapid pace there is a paradigm shift in customers' expectations. This poses a challenge to businesses as they try to adapt to emerging business models and find newer ways of delivering value to customer, he observed.
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