Technology and the Marketing Mix
Why is technology important for the marketing mix?
Technology has become an important part of our daily lives and it also opens new opportunities for businesses.
Technology helps a business promote its products to its target audience and also target a larger number of potential customers.
Internet Marketing
Social media marketing is a form of internet marketing that involves creating and sharing content on social media networks to achieve marketing and branding goals. It includes activities such as posting text and image updates, videos, and other content that achieves audience engagement, as well as paid social media advertising.
Viral marketing is when consumers are encouraged to share information online about the products of a business.
E-commerce is the online buying and selling of goods and services using computer systems linked to the internet and apps on mobile phones.
Social Media Marketing
| Benefits | Drawbacks |
| Targets specific demographics Cheap to use Useful for products that are targeted towards a demographic like the youth who are active on social media. Market changes can be catered to quickly | Can alienate customers if they find the advertisements annoying. Businesses may have to pay in order to reach customers through means such as pop-ups in websites. The business has a lack of control of how the advertisements may be used by others. |
Website
| Benefits | Drawbacks |
| No extra cost once the website has been set up. Control over advertisements Can quickly react to market changes by updating regularly. May attract funds from businesses who wish to advertise on the site. | Businesses will have to rely on customers to find the website. The cost of setting up the website may be high. |
E-commerce
Opportunities to Businesses
| Benefits | Drawbacks |
| Low-cost promotion Global coverage Able to access many consumers Shops might not be needed B2B easier | Setting up/updating website costs No direct consumer contact Competition from other websites Transport costs |
Opportunities to Consumers
| Benefits | Drawbacks |
| Convenience Easy to compare Easy to pay Wider choice Compettive prices | Internet access required Cannot see/feel products Identity theft Technical problems No personal contact |
Still got a question? Leave a comment
Leave a comment