Concept of social mobility

Social mobility is the movement of people between social classes, countries, or ethnic groups. It gauges the health, education, and literacy of the populace. Social mobility in this context, however, refers to an increase in household incomes.

Marketers value social mobility because it allows them to track where their clients have relocated and the specific marketing abilities required. You may establish the most effective business plans by having a solid understanding of the dynamics of a dynamic market. If a neighborhood’s income has unquestionably increased as a result of the presence of businesses, the marketer will need to alter the way they promote their goods. Additionally, it aids in pricing. Segments in the mature market

A segment is how a marketer groups his target group. It can be demographic, geographical, behavioral and psychographic. Psychographics are the consumers preferring to purchase organic food. Behavioral is customers wanting value for money on an impulse purchase. University students and “A level” may explain demographic segmentation. Targeting customers within 10 miles is an example of geographic segmentation.

Hiring a celebrity or athlete endorser

Hiring a celebrity for endorsement is a good move to increase your reach. The people that would like to identify with the celebrity may want to use what he or she uses. A good example is a football player advertises an energy drink; more people will want to consume it. A musician who uses a certain type of a guitar may increase the sales of the instrument.

Online stores vs. traditional brick and mortar stores

The online store represents businesses selling the products over the internet. You will make an order, pay and the product is delivered to your doorstep. However, Brick and mortar stores are the traditional physical building where you have to be physically present to make a purchase. Online stores save on time, and it is a click of a button away, but the chances of losing your money are high. An example of online stores Alibaba.com. The traditional store was secure, and you could view what you are buying. However, the need to be physically present may be tiring if it is far away. An example is your local area store where you go for shopping.

Traditional mass marketing and Internet marketing

All the marketing styles are aimed at getting clients and improving company profits. However, conventional mass marketing is visiting clients and explaining to them about the products. Internet marketing is the use of the internet platforms like Facebook to market your products. It reaches more clients at the same time than traditional marketing.