A New Framework To Revive Industries With The Help Of Advanced Technology Used As Marketing Tool

Abstract

Entire world is facing a huge competition in the market. Companies are spending tremendously over marketing of products and services. These costs are taking a toll on profit as well. Many industrial units are facing loses and banks are getting cash deficit. In order to revive market, it is necessary to understand new consumer approaches and behaviour to identify their buying pattern. Clearly lesser profits and increasing marketing cost are signs of down trend. There are many types of consumer behaviour theories. They have their own advantages but they also contain serious flaws. These flaws make them vulnerable. This paper proposes to discover a new consumer behaviour or perspective of millennials. This will help in increase of profits and decrease marketing costs. The framework will also help in reducing operational cost, human resource costs and distribution cost all together.