Trend and Mega Trend

Trend

A trend is a collection or sequence of events that has some momentum and durability. Generally, a trend is last for two to five years. Marketers can find many opportunities by identifying trends. The trend of smoking habits in teenager helps the growth of the tobacco industry. The trend of buying mobile phones is helping Nepal Telecom to expand its transactions. Generally, the trends can be seen mainly in fashionable items like in dress, electronics, beauty products, etc. It helps manufacturers and marketers to design the products and services according to the emerging trends.
According to Faith Popcorn –“A trend has longevity, is observable across several market areas and consumer activities, and is consistent with other significant indicators occurring or emerging at the same time.”
Trend reveals the shape of the future. It is direction of events in the changing environment. A trend is usually active for a period of two to five years.

Following are some of the glaring examples of marketing trends in Nepal:
  • Women’s participation in different NGO’s for raising against social injustice and crime.
  • The demand for self-service
  • The use of miniskirt
  • Digital watches
  • Getting admission in MBBS classes by donating a huge amount of money
  • Sending children for education to foreign countries etc.

Mega Trend

Mega trends are direction or sequence of events in the environmental forces that are of longer duration and they are shown because of political, economic, social, and technological changes. In other words, mega trends are large social, economic, political and technological changes that are slow to form once in place, they influence us for some time-between seven and ten year, or longer.

Some example of mega trends are:
  • The booming global economy
  • A renaissance in the arts
  • The emergence of free-market socialism
  • Global lifestyles and cultural nationalism
  • The privatization of the welfare state
  • The rise of the Pacific Rim
  • The decade of women in leadership
  • The age of biology
  • The religious revival of the new millennium
  • The triumph of the individual
There are some differences between a trend and mega trends. Mega trends are larger than trends. Trend is stable for two to five years whereas mega trends are relatively stable for almost a decade. Mega trend throws a greater influence on marketing than a trend.

The examples of mega trends visible in Nepal are as follow:
  • Cultural invasion from the western countries
  • Privatization of state owned enterprises
  • Liberalization and globalization
  • Increasing use of information technology
  • Westernization of life styles
  • Open university system, etc.
These trends and mega trends create marketing opportunities for the concerned marketing firms. But the firm should develop new products or marketing programs in line with strong trends and mega trends rather than opposing them.

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