1/14/2020 0 Comments
Marketing Management Concepts - Essay Example Alternative Management Channel Techniques. One of the alternative channel management technique that People's Bank can employ is the traditional brick and mortar model where they set up their buildings to support business transactions with customers (Murphy 2003). Also, they can likewise complement their online presence with brick and mortar product distribution. This is to capture markets which do not have access to the internet. People's Bank and the Societal Marketing Technique. The societal marketing concept firmly holds that "the organisation's task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors, in a way that preserves or enhances the consumer's and the society's well-being (Kotler 1994)." We can see that as People's bank utilize the best technology available and apply it to their business sector, efficiency is increased not only on the part of the customer but also to the business. However, there are some setbacks like high expenses due to high cost of energy. It can be noted that the skyrocketing costs of fuel in the world and domestic market will spill over as high energy consumption for consumers using this technology. Impact of Technology on Business.
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