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First of all this trend has an impact on strategic planning. It is crucial to take in to account uncertainties of changing market while assessing external environment (customers, industry, competitors, etc) and internal strength and weaknesses of the company. This trend influences company's formulation of objectives and business strategies.
Secondly, understanding reasons facilitates formulation marketing strategy. More specifically, the company formulates marketing concept and builds brand reputation by understanding customer's needs. For example, after analyzing customers eating behaviors and finding that only "35 percent of Americans eat two or fewer "square" meals daily" Starbucks sell only high quality coffees along with variety of pastries and few sandwiches in the "coffee bars...
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