BUS620: Managerial Marketing (MAC1048B)
Dr. Erich Randall
Establishing a presence is arguably the most important step in building a successful organization. In the past a presence referred primarily to a physical location and any advertising efforts made to build an organizations reputation and spread the word of its existence. With the endless advancements in technology and the expanded approach that society takes to nearly every aspect of life, the word presence as it relates to an organization takes on an entirely different meaning. There are very few people if any at all who remain untouched by the technological advancements that now dictate the way that business is transacted. Most organizations have adjusted their marketing strategy to include both a physical and digital presence. Advertising on the internet has become equally if not more important than doing so using the traditional methods. This document is intended to offer an analysis of both physical and digital organizational presence and the marketing implications for using both mediums. It examines how different market segments are affected by both methods and also takes a look at both from a customer’s perspective. Also included in this document are examples of companies who have successfully established a space and/or place presence. MARKETING STRATEGIES AND SEGMENTS
Market segmentation is the process of grouping a market into smaller subgroups (Market segment, 2010). Advancements in technology offer customers options when it comes to shopping and getting the things they want and need. No industry has been completely untouched by technology. Companies are being forced to broaden their considerations when they begin to reach out to the different segments they target. It’s not only the younger generation who is utilizing new technology to transact daily business affairs. A...