This week we discovered that it is important not only to use the traditional marketing mix to exploit a product/service, but also to use 'partnerships' as part of the extended marketing mix.
We learnt how to distinguish between online marketing activities and offline marketing activities. Furthermore, by using both methods of marketing it targets a larger and more diverse market. For example, an elderly pensioner who might read the local paper in contrast with a young, Internet-savvy businessman who might go online.
Although dynamic pricing is a great way for companies to have the potential to enjoy greater profitability (http://www.dmnews.com/), sometimes price discrimination can come into effect. For example, an elderly lady who purchases a holiday package well in advance pays full price, whereas a young Internet-savvy user purchases the same package last minute at a discounted rate.
I had troubles formatting my post this week as I initially typed in into Microsoft Word and then pasted it into my blog. Therefore there are large spaces between each question. I tried to rectify it but to no avail.
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