Posted in Marketing and Strategy Terms, Total Reads: 700
Definition: Market Spoiler
Market Spoilers are firm (usually internet based) that provide detailed information on various competing products and services along with their suppliers (usually on website) which helps the prospective buyers to take an informed decision independently regarding the purchase.
They are also called as market killers, because these firms decrease the advantage possessed by intermediaries and producers who strive to get consumers on the basis of brand equity, privileged information etc. Since a huge amount of information is available via these market spoilers, the aware consumers make up their mind on the basis of the information and then make their purchase. For these type of customers, there is little that any intermediary can do to influence the buying decision. “Customer is King“ and these market spoilers have increased the might of the king, because it becomes difficult for the firms to hide their shortcomings or deceive the customers. There are a lot of websites which provide a platform for consumers to give their valuable reviews on firms and their products.
For Ex – While buying from E-commerce portals it becomes very easy to just “ADD To Compare” and draw comparisons on various parameters. All the E-commerce websites provide a section for consumers to post their reviews which prospective customers refer to while making purchases. Portals like mouthshut are solely for reviews. gsmarena provide valuable comparisons and reviews for mobile phones. A lot of YouTube channels also provide similar valuable information to the prospective consumers.