Marketing implications are changes in sales or other results that can be expected from a particular strategy. For instance, a plan to communicate more openly with customers has marketing implications of increased customer satisfaction. Marketing implications can be positive or negative.Know More
Changes in product design or business processes have marketing implications, such as increasing customers' use and future purchases of a product under certain circumstances. Marketing implications also apply to the overall health of a business since greater customer satisfaction and increased sales lead to higher production and more profit. Potential marketing implications among employees include higher morale and greater commitment to a company when sales are favorable and the company has a good reputation.
Technology advancements, such as smart phones that make online shopping quick and easy, have negative marketing implications for physical retailers. A new tablet with a larger, brighter screen has positive marketing implications for publishers of interesting content.
Having a marketing strategy allows companies to focus on particular opportunities to increase sales and find competitive advantages, according to David Aaker, an American business consultant and professor emeritus at the University of California, Berkeley. Assessing potential implications is one activity in the full spectrum of marketing activities designed to support a company's objectives.Learn more about Marketing & Sales
Marketing is important for any business because it is what brings in the necessary client base to help the business grow. It is also important because it can be used as a way to build brand recognition and expand a business to different locations.Full Answer >
Buzz marketing refers to a marketing strategy employed by firms and marketing agencies to spread word rapidly about a novel product or service, using citizens as brand promoters. Buzz marketing essentially acts as corporate gossip, but instead of spreading news and information about people, it educates customers about products. Buzz marketing employs a word-of-mouth marketing program, utilizing many channels for communications, including social media, print sources and mobile devices.Full Answer >
NASCAR created one of the largest and most successful marketing campaigns in the field of sports by capitalizing on large audiences and even larger venues. Furthermore, NASCAR has made everything under its control a potential marketing opportunity, from the jackets the drivers wear to the names of the races.Full Answer >
In indirect marketing, the customer does not receive any direct communication from the company. Indirect marketing is used when a customer is aware of a product and only needs to be reminded about the product in order to check out the company and possibly purchase the product.Full Answer >