We are operating in a most dynamic business environment today, one that is changing radically as a result of major radical societal forces, such as technological advances, globalization and deregulation, which have created new behaviours and challenges:
* Customers increasingly expect higher quality and service along with some customisation. They are also showing greater awareness and price-sensitivity in their search for value.
* Brand manufacturers are facing intense competition from domestic and foreign brands and rising promotion costs coupled with shrinking profit margins.
* Giant retailers are growing powerful and killing store-based retailers. They are marketing an ‘experience’ rather than a product assortment.