![]() ![]() Marketing deals with identifying and meeting human social needs it is about meeting peoples’ needs profitably. These new capabilities of consumers and customers create new forces, which raise the question and focus on how these new forces will change marketing. ![]() Internet, allows organizations for the comparison of prices, improving purchasing, logistics and operations, saving costs and improving accuracy and quality. Improve purchasing, recruiting, training, and internal and external communications.Į.g.Customize offerings and services to the needs and wants of individual customers.Send ads, coupons, samples, and information to those customers that requested it.Businesses can now communicate with customers and prospects in a “two-way” manner, and have more efficient transactions.Businesses can speed up and facilitate internal Communication among employees.Collect fuller and richer information about markets, customers’ needs, prospects, and competitors.Interact, place and receive orders easily, 24/7 and from any location.Ĭompanies can now operate powerful new information and sales channels to inform the consumer and promote their businesses and products.Access large amounts of information about anything.Access a greater variety of available goods and services.Find the lowest prices, caused by their increase in buying power.The new economy has provided more capabilities to both consumers and businesses. The old economy is characterized by the Industrial Age, which focused on mass-production and mass-consumption with a focus on efficiency. The new economy differs a lot from the old economy, which was based on the Industrial Revolution, manufacturing industries, and standardization of products to achieve economies of scale. It promises more accurate levels of production, more targeted communications, and more relevant pricing, and is therefore characterized by the so-called Information Age. Nowadays economy is based on the Digital Revolution and information management. Chapter 22: Managing a holistic marketing organizationīack to top Chapter 1: Defining marketing for the 21 st century.Chapter 21: Tapping into international markets.Chapter 20: Introducing new market offerings.Chapter 19: Managing personal communications.Chapter 18: Managing mass communications.Chapter 17: Designing and managing integrated marketing communications.Chapter 16: Managing retailing, wholesaling, and logistics.Chapter 15: Designing and managing value networks and channels.Chapter 14: Developing pricing strategies and programs. ![]()
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