Space vs. Place
BUS620: Managerial Marketing
Instructor: Pamela Gordon
Feb. 20th 2012
In this new economy and web-savvy age that we are living in, companies must be able to have not just a physical place for the organization but a digital space for it as well to compete with their online competitors and to shift themselves into the global market that is accessible, available, marketable and viable in every way from exposure, to selling new products, to being the trail blaze with a product or in a certain region to revenue. In order to make the space and place work is to look over the marketing implications and ...view middle of the document...
In utilizing space (digital), when done strategically, utilizing demographic, geographic, geo-demographic and behavioral segmentation can all be critical when attempting to reach target markets for the product or service being offered. Similarly, physical (place) presence for businesses and organizations is important when trying to reach target markets. Place is important because it helps to identify the location which ensures proximity to market for which the product or service will serve. Today’s technology gives such a good opportunity for a store that is located in Los Angeles, Ca. to satisfy and reach potential clients who can live in Germany or other countries. It is very important for a business to reach their clients both virtually and physically because they can increase their profits and become more competitive in the global market.
Some customers are very comfortable with participating in both the digital and physical arenas. Often times buying a product on-line (one digital medium) is done for convenience purposes. In this environment you can shop, place your order and have your product shipped to you, all at the convenience of you, your fingertips and any computer with access to the web. Along the same lines, there are some customers who like the touch and feel of being able to physically touch, try on, or otherwise demo or use the product before they actually purchase it. I suspect that these are those customers that don’t mind a drive to their local store or outlet shop to get the same product they could buy online. A good example of this would be those customers who shop for electronic online. If shopping for a specific stereo receiver for a surround sound system, one may know all the specifications and features from reading about the product but they can’t hear the sound quality it puts out unless they visit a retailer that has the product. Doing so allows them to hear the unit with various different sets of speakers, DVD and Blu-ray players and such. I don’t believe that specific market segments have to be limited to space or place exclusively. I do however believe that positioning is important to the overall process of segmentation to marketing medium. According to Mullins and Walker...