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 goals of marketing research are to help a business refine its marketing strategy, improve products or services, determine where a product should be placed and uncover consumer habits. The scope of marketing research is often determined by the business's budget and the ability of the researcher.Full Answer >
Differentiation is a marketing strategy that businesses employ to make their products unique and stand out from competitors. It is the typical strategy for industries for which multiple competitors produce identical or very similar products.Full Answer >
Important elements to include in a restaurant business plan are the executive summary, company description, management team overview and marketing strategy. Another important element to add is a business environment analysis that includes information about the target market and restaurant location. An operations plan category provides an overview of elements such as staffing, customer service and suppliers.Full Answer >
"Market aggregation" is defined as the marketing of standardized goods and services to a large population of people that have similar needs, according to Inc. Another name for market aggregation is "mass marketing," a strategy that treats all customers as a single group that is handled homogeneously.Full Answer >