Topic: Space and Place
Markets appetite and treatment for new products is always huge and welcoming, this can be found in the treatment of the new product that we are always bombarded with almost on a daily basis, products which in majority of the cases ends up giving those that have already been in the market a serious competition despite their previous presence and therefore head-start in the market. It is in this scramble for customer and the need of not only wanting to survive steep competition that characterize today’s market but also conquer it that marketers have increasingly embraced information technology in the hope that as a business strategy it will give them a head-start. In this regard marketers are consistently looking for the traditional marketing concepts that will be improved by the tools of information technology that includes; databases, internet, wire technologies to name but a few.
Marketing implications for reaching market segments using both space and place
Information technology like in majority of other fields has revolutionalized marketing, in fact digital channels have more than anything else changed the behavior of consumers, transformed marketing communication, and changed commerce in general, in this regard it has mostly been through giving marketers the ability to improve and also change the value of stakeholders’ value through the various aspects of e-marketing. At the moment the consumption of digital media tops the other classical medium with an extremely strong showing anticipated in coming years (Londre, 2011). The very action of reaching the market through digital media has in itself created a completely new channel of transaction. Still, as a information equalizer, internet has accorded consumers the power that they did not enjoy under the previous set-up while diluting the power that marketers have been enjoying in the previous set up. Its (internet) properties have created opportunities that far surpass those presented by telephone, post mail, television among other communication medium that have preceded this new technology (Londre, 2011).
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