The Impact Of Internet On Strategy : Digital And Marketing Concept

Before i go further let me touch on a brief introduction on customer value, customer value can be defined as the difference between what a customer gets from a product and what he or

In economics, the demand for a good refers to the amount of the good people a.would like to have if the good were free.b.are willing to buy at various prices.c.need to achieve a minimum standard of living.d.will buy at alternative income levels. ANS

Demand refers to the quantity of products people are willing and able to purchase during some specific time period, all other relevant factors being held constant. Price and quantity demanded stand in a negative (inverse) relationship: as price rises, consumers buy fewer units; and as price falls, consumers buy more units (Stone 75).

The demand for labor and other factors of production that depends on the [consumer] demand for the final goods and services the factors produce.

Customers want quality goods for low prices, they basically want to feel like they got more than their moneys worth

Customer Value is ‘the performance characteristics, features and attributes, and any other aspects of goods and which customers are willing to give up resources’ (Robbins, Bergman, Stagg and Coulter, 2012). This broad definition highlights the fact that there are multiple aspects that contribute to create a sense of value within the customer.

Demand is defined as the amount of a good or service that consumers are willing and able to purchase (Hubbard &

When a business can provide a lower cost, then the business can have the ability to lower their price. Providing a better pricing system, along with sharp value products can only increase the chance of growth and customers’ overtime.

Demands are wants that are backed by buying power. As Kotler explains “given their wants and resources, people demand products with the benefits that add up to the most satisfaction”. Marketing affects everybody in their day to day lives. Throughout our lives we are all consumers who are subjected to marketing activities, which then have influence on the decisions we make and how we go about our daily routines. The way products and services are marketed impacts upon our experience of them, and the satisfaction gained.

Supply and demand is perhaps one of the most fundamental concepts of economics and it is the backbone of a market economy. Demand refers to how much of a product or service is desired by product or service is desired by buyers. The quantity demanded is the amount of a product people are willing to buy at a certain price; the relationship between price and how much of a good or service is supplied to

America began on the premises of wanting equality and that core value can be found throughout A Walk in the Woods by Bill Bryson. For example, this scene where Bryson and his partner, Katz have stopped to rest, “He took a very modest sip and made to hand it back. ‘Go on,’ I said, ‘you must be thirsty.’ He took a slightly less modest sip and put the bottle down. He sat for a minute, then got out a Snickers, broke it in two and extended half to me. It was a somewhat odd thing to do because I had a Snickers of my own and he knew that, but he had nothing else to give.” (p.256). The fact that Katz shared what little he had with Bryson simply on principle indicates that being fair is deeply rooted in their culture. Bryson had helped Katz out, so

Value creation is creating value for the customer. Being able to solve or meet the customer requirements. Value is created whenever an action is taken for which the benefit exceeds the cost.

Needs become easily confused with desires very often. Needs and wants are two distinct, but related, concepts; needs are more vital to function, physically and mentally, in today’s society.

The Marketing Concept The marketing concept has evolved over the last years, marketing reflects to a key approach to doing business. An organisations objective is to make profit, to do this they have to consider the marketing concept, in order to satisfy customers. For an organisation to be successful should divert its attention away from particular products and towards the interest of the customers. Customers changing their needs and wants influence an organisations strategies and plans. Meeting customer’s needs is the main key in marketing.

Today in our society and the world of Business we encounter many different genres of marketing to persuade consumers toward certain products or services. One of the most known and used type of marketing businesses use is Digital Marketing. Digital Marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium. Another style of marketing that opposes from Digital Marketing and widely used today I or economy is Traditional Marketing. Traditional Marketing refers to any type of promotion, advertising or campaign that has been in use by companies for years, and that has a proven success rate. Methods of traditional marketing can include print advertisements, such as newsletters, billboards, flyers and newspaper print ads. Although Digital Marketing differs from traditional marketing, our economy has been rapidly moving toward the use of Digital Marketing. Studies have shown that cost of Digital Marketing is more efficient, they can unprecedented audience reach, and is better when it comes to direct response from intended audience. Traditional Marketing on the other hand is way more expensive and is more difficult to stay in contact with customer’s. These techniques and associability’s can benefit customers by saving them money and being able to keep in touch with your customers’ needs and wants when running a business.