Consumer generated Market Definition and Explanation PDF Download
Learn Consumer generated Market definition in marketing with explanation to study “What is Consumer-generated Market”. Study consumer generated market explanation with marketing terms to review marketing course for online MBA programs.
Consumer generated Market Definition:
Brand exchanges created by consumers themselves - both invited and uninvited - by which consumers are playing an increasing role in shaping their own brand experiences and those of other consumers.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Consumer generated Market Explanation:
Consumer generated marketing (CGM) is an affordable marketing technique that provides customers related feedback and views. The basic purpose of this marketing strategy is to gather customer's direct feedback related to the product. It is cheap and less time consuming, however, this strategy has loopholes, such as lack of control on customer's opinion and gathering of huge market data for analysis.
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