- March 9, 2013
- Posted by: essay
- Category: Term paper writing
This is a well-known fact that technologies are developing rapidly. Owing to the advances in technology, people have such a wonderful opportunity to visit a company or an organization and buy the necessary products from different corners of the country without leaving their homes.
Consequently, most companies try to satisfy their costumers’ needs and be located digitally and physically for the purpose of attracting more clients and markets. Thus, this paper introduces and describes a space (digital) and a place (physical) presence for an organization.
Talking about a space and place presence of any organization, it is possible to emphasize that these two approaches are very important for any company because they can help in increasing stocks and sales by reaching the costumers all over the world. In addition, each organization must have a space and place presence to complete with its competitors in conducting e-business and be more accessible for its potential clients. According to Beck (n.d.), “An online presence for business is a powerful marketing and communication tool, an incredible source of cost-efficiency, an environmentally friendly way to work, a sign of professionalism and pretty much a requirement today”¯ (para. 1). If the clients cannot be able to access organizations virtually, they should make all efforts and ensure a physical place for their potential clients, that is, make it possible for costumers to visit their business physically.
Therefore, each organization has to be located digitally and physically with the purpose of reaching its clients even from another side of the country, and consequently, increasing its sales.
Hence, it is essential for organizations to analyze and explore the marketing implications in order to reach market segments using both mediums. Furthermore, it would be useful and reasonable for the companies to assist their customers in moving effortlessly from one to another.
Observing this theme, let us pay a specific attention to the market segments. A market segment is a group of customers having similar needs, desires and opportunities.
According to Beik and Buzby (1973), “The concept of market segmentation may be used for strategic alignment of the firm’s productive capacities with its existing and potential markets”¯ (p. 48). In turn, Douglas and Craig emphasized that “The key to success is to understand the attitudes and behavior of consumers in these segments, and to tailor strategies to their needs”¯ (as cited in Hofstede, Wedel, & Steenkamp, 2002, p. 161).
Talking about market segments, it is possible to say that all of them can enjoy shopping at both virtually and physically. In spite of these conclusions, it is necessary to take into account that some costumers do not want to purchase products online because they do not trust that it is a safe and effective way to get some products and goods or just have no idea how to do online shopping. In this case, it is possible to conclude that some specific market segments have to use space or place exclusively.
Exploring companies that have both a space (digital) and a place (physical) presence, it is possible to note about K-Mart that is a retail store in the USA and a good example of a company that operates both digitally and physically.
Taking the above-mentioned information into consideration, it is possible to draw a conclusion that each company has to try to provide both a space and a place presence with the purpose of satisfying its clients’ wants and needs. The implementation of these essential elements will assist a company in conducting its business more profitably and rationally.
Beck, Z. (n.d.). Benefits of Going Online. Centauria.com.
Beik, L. L., & Buzby, S. L. (1973). Profitability Analysis by Market Segments. The Journal of Marketing, 37 (3), 48-53.
Hofstede, F. T., Wedel, M., & Steenkamp, J. (2002). Identifying Spatial Segments in International Markets. Marketing Science, 21 (2), 160-177.
Michman, R. D. (1991). Lifestyle Market Segmentation. New York: Praeger.