Essay about Finance: Marketing and High Technology

Submitted By teju135
Words: 350
Pages: 2

MARKETING MIX FOR CONSUMER HIGH TECHNOLOGY PRODUCTS

Summary :

1. An organization that sets the development direction must establish the market strategies correlated with the current state of products and its sources of competitive advantage.
2. An essential condition for high technology organizations to be competitive is to develop strategies of product innovation, taking into account a certain type of innovation: the radical or incremental innovation.
3. Aiming to provide unique solutions and experiences to the customers, the companies apply, sometimes, strategies for product differentiation from the competition, such as: highly customized product strategies, strategies for design development and strategies for sustainable products.
4. Fixing the price for a high-tech product is a complex process that requires the consideration of product cost, product quality and value, the position occupied in the market, the brand image, the competitive environment, the organization's objectives etc.
5. High technology companies include in their communication policy a promotional mix made of a variety of communication tools: advertising media, public relations, direct mail, exhibitions and seminars, catalogues and manuals, telemarketing and personal selling.
6. The main communication channels in high-tech industry in the digital economy are the Internet and mobile phones.
7. A promotion strategy specific only to the high tech industry with a huge impact on consumers is the strategy to…