Trend Analysis paper
Information is now easily accessible, and marketing has been made more accessible, among several other things. These trends have been responsible for the shaping of not only the corporate context but also the economic aspect of businesses as well as individuals. New ways of carrying out businesses have been devised. In the same way, new ways of consumptions have been exhibited by various consumers across various social levels. Moreover, various trends have been summed up to produce a net effect in the market. Therefore, trend analysis is the process whereby market players observe and study the past and current trends in the business and use this knowledge to predict the future changes of this market regarding short-term, the intermediate and the possible long-term changes.
Trend analysis can include aspects such as analyzing to determine the length of time that a current trend will last, as well as the associated future effect of the current trend in the market (MEGAN, 2017). For instance, trend analysis can entail the study of the consumer behavior of say electronic buyers. This will entail the observation of the new needs exhibited by the customers, and how these demands are possible to change over time and to what direction. This can be regarding the features required by the users of these electronic devices. These include the smart TVs, the smartphones among other technologies. These devices combine several functions and make them available to the user on a single device. For instance, with a smart TV, a user can fulfill the need to watch TV, view personal files, as well as access the web pages from a single device.
This is the same advanced case for the smartphones. Smartphones enable the users to achieve the functions of a cellphone, a camera, a radio, a computer among others, from just a single device. A new wave hit the market leading to the total change in strategies that companies had earlier on developed and adopted. The verge of automation began to be embraced in the workplace. With the continuity of these same technologies, there has been a mega-trend in the last decade that has affected the performance of an organization. It is also prospected to produce further impacts in the future, not only in the organizational context but also have individual impacts for the employees in the various organizations. This is the technological automation trend.
As Gratton (2010) suggests, work is an essential part and purpose of the human race. Families depend on work, the same ways nations and their development depends on work. Without work, the future will be filled with millennials that are extemporarily qualified to work, but with no work. The Case of Blockbuster and the Mega-Trend Blockbuster LLC which was also previously known as Blockbuster Entertainment, Inc. , used to be an American-based company that provided movie and video game renting services. This led to blockbuster declaring its bankruptcy in 2010 which saw its demise. There are several impacts that this trend introduced to the company. First, the company’s existence was brought to an end. It could not thrive in the market anymore since it could not tune to the emerging trends introduced by technology.
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