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Home / Thomas Burns
Thomas Burns, the iconic economist, originally authored the classic classification scale many use to describe market maturity. On his scale, the most complete, or evolved market he identified as a phase three and described as being focused on ”stimulat(ing) consumption (with) advertising, product development, design, consumer research, market research, and marketing promotion.” (Hatch, 1997, p. 23) The question, though, is …
As most marketers are aware, consumers have more control of how information is leveraged than ever before. The internet and the access it provides has empowered consumers with knowledge and has forever changed the way consumers perceive and understand goods, services and information. Consumers are enlightened, and “are acutely aware and educated as to the current state of our society. …