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
The seven P's of marketing are the service marketing mix, which addresses seven key characteristics in building a complete marketing strategy. The service marketing mix extends the original product mix of product, place, price and promotion by adding three additional service components: people, processes and physical evidence.Full Answer >
Societal marketing is a marketing technique that balances profits and consumer desire by assessing the interests of targeted consumers and then aiming to deliver products more effectively and efficiently based on that information. The final product should therefore benefit both company and consumer.Full Answer >
A marketing concept is vital to customer-centric companies because it guides them to prioritize satisfying customer needs and wants. This concept also causes companies to perform proactive research to identify preferences within the consumer market prior to development and promotion.Full Answer >
The American Marketing Association explains that marketing is a set of systematic activities that include research, solution development, promotion, sales and service. Each of these major elements is further broken down into different roles within the marketing function.Full Answer >