What Are Two Characteristics Of The Digital Marketspace? (2024)

FAQs

What Are Two Characteristics Of The Digital Marketspace? ›

Expert-Verified Answer. Electronic images and offerings & face-to-screen exchange relationships are the two characteristics of digital marketspace.

Final answer: Possession utility is enhanced in the marketspace by services that allow convenient access to products. Examples include online retail platforms like Amazon and digital content services, offering immediate and easy access to goods and media.

Digital marketing, also called online marketing, is the promotion of brands to connect with potential customers using the internet and other forms of digital communication.

What are the unique features of e-commerce, digital markets, and digital goods? Ubiquity: Internet/Web technology available everywhere. Global reach: technology reaches around national boundaries, around Earth. Universal standards: one set of technology standards: Internet standards.

Final answer: The two dimensions of choice for online shopping and buying are convenience and price. Competition and incentives like quality, selection, and brand loyalty also influence consumer decisions.

In behavioral economics, the four types of economic utility are form utility, time utility, place utility, and possession utility. These terms refer to the psychological importance attached to different forms of utility.

Intermediaries help a company promote, sell, and distribute its products to its customers. Marketing intermediaries act as middlemen between various stages in the distribution chain. Intermediaries make the accessibility of the products easier for customers.

Accessibility, addressability, connectivity, control, and interactivity are the five characteristics of digital media that differentiate them from traditional marketing media.

Final answer:

Digital marketing is characterized by its global reach, interactive mediums, and 24/7/365 services. 'Time Consuming' is not a characteristic, as digital marketing campaigns can be launched quickly and results can be seen in real time.

The characteristics of digital marketing outlined above, such as being measurable, targeted, cost-effective, and interactive, have made it a powerful tool for reaching and engaging with customers.

What are unique features of e-commerce digital markets and digital goods? ›

They are ubiquity (the possibility to use it everywhere), global reach (the possibility reach any part of the world), universal standards (all people should follow the same Internet standards), richness (the possibility to send and deliver various messages with video, audio, text, and photos), interactivity (the ...

They are distinguished from other goods by five characteristics: digital goods are nonrival, infinitely expansible, discrete, aspatial, and recombinant.

What two items are characteristic of the organizational buying process as compared to the consumer buying process? -Supplier capability becomes more important. -More individuals are involved in the decision.

There are two basic dimensions of quality: Performance quality measures to what extent a product or service meets the expectations of the customer. Conformance quality measures if processes are carried out the way they were intended to be carried out. The root cause for quality problems is process variability.

Possession utility is the value a consumer places on purchasing a product and having the freedom to use it. For example, if Joe wants a new car, he will shop car lots until he finds a car he likes at a price he can afford. He is searching for possession utility in the form of a low payment.

A retailer delivering an item of furniture to a customer's home is an example of possession utility. Intermediaries provide possession utility by assisting customers with acquiring ownership and possession of a product.

Local Dairy's Milk Delivery Service:

This example epitomizes possession utility because it directly addresses the convenience and value that consumers gain from owning a product without physically acquiring it themselves.

Possession utility speaks to the actual act of product possession — such as consumers driving a new car off the lot or having furniture delivered to their home. It also highlights the connection between possession and purpose.