Strategic Marketing Strategy: Digital and Physical - Research Paper Example

Strategic Marketing Strategy (digital and physical) Introduction Internet has changed the outlook of modern business. The popularization of the internet, in the end of the 20th century and in the beginning of 21st century, has forced organization to revamp their business practices. The increasing reliance on internet as a medium to sell goods and services is not a merely discretionary but necessary at this time. Marketing Strategy: Digital and Physical Presence Customer segmentation has become ever so important today because of globalization and technology.

The ease with which new businesses can be started gives rise to competition. Therefore specific strategies are required for specific customers. Internet is a medium which can be used to reach different market segments for many reasons. The global reach of the technology provides great opportunities for businesses to thrive. Also the low cost associated with a digital business is an attraction for organizations. With a limited budget companies can now sell their products and services easily all over the world.

Internet has also has one major advantage over other mediums of marketing. Through internet companies can easily track customers and can find out how specific target markets are reacting to their marketing (Chaffey, D. 2007). This gives business an opportunity to analyze which advertisement is working. Also companies can see customers are coming through which websites and in turn they can advertise more heavily on those websites. Customer retention is another advantage of using internet as a medium of marketing and selling.

Customers can be asked to provide their email addresses and specific advertisements can be sent to them in future. Almost all big companies provide their products online. From clothing companies like Giorgio Armani and Gucci to footwear companies like Nike and Adidas all have set up digital shopping on their respective websites. It is important to note however that regardless of the huge success and immense advantages of digital selling and marketing, one cannot ignore the efficacy and importance of physical presence of an organization.

Online shopping may be the trend but it does not cater to the all the age groups and target markets. The young may like to buy things online and they can be also be reached through internet, but the middle age people and the old ones still prefer the same old shopping and to reach them marketing mediums are different. There are a considerable number of people who still do not have internet facility at their disposal so for this market segment physical presence of an organization is important (Khan, U. 2009). They still enjoy going to shops and buying things physically so companies cannot solely rely on internet.

The cost of running a physical business is higher than a digital business and advertising is also very different. But still it is very important to do so because the efficacy of internet marketing is not the same as regular marketing (Clemons, E. 2009). People still have not gotten used to internet marketing and therefore physical presence is one important medium of selling goods and marketing. Customers will require time to effortlessly move from one medium to another. Companies for now will have to continue to use both the mediums, but the focus should be one digital marketing and selling because it is the future thing.

More ‘real’ virtual shopping centers can attract even the customers that prefer physical shopping. Conclusion It is equally important for an established company to use both digital and physical mediums in order to cater to all kinds of market segments and in turn maximize profits. Not all customers prefer digital shopping and marketing and for them companies should focus on physical markets. The emphasis of the companies should be on digital marketing and selling because it is the future, but physical markets cannot be ignored.

References Chaffey, Dave. (2007). Internet Marketing Book. Retrieved from http://www.davechaffey.com/Internet-Marketing Clemons, Eric. (2009). Why advertising is failing on Internet? Tech Crunch. Retrieved from http://techcrunch.com/2009/03/22/why-advertising-is-failing-on-the-internet/ Khan, Urmee. (2009). Millions without internet access do not want broadband, finds Ofcom. Telegraph UK. Retrieved from http://www.telegraph.co.uk/technology/news/5494558/Millions-without-internet-access-do-not-want-broadband-finds-Ofcom.html