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Nov 8, 2017 in Economics
Growth of Business
Customers play a major role in determining the growth of business. As a result, many business people lay emphasis on customer satisfaction through quality of services and goods offered. Since customers have varying tastes and preferences, any company involved in business activities has to establish the needs of as many of its customers as possible to increase the magnitude of satisfaction. It is however worth noting that several factors determine the needs of customers ranging from economic factors to social factors.
Likewise, geographical factors play a significant role in determining the demand of different customers in the world. For instance, products which may be on demand in the United States could be found to have negligible demand in the United Kingdom or even in Africa. This geographical imbalance and differences has to be checked and considered in any business activity. This would be almost impossible in the absence of technology that connects various parts of the world like the internet. With this technology, companies and business owners are able to understand trends in various parts of the world without necessarily travelling all over the world. It is pretty clear that this saves resources including time that would be spent on flights. Geotagging has been proved as the most appropriate and workable technological approach in business marketing.
What is Geotagging? Can it be used in promoting business expansion and growth? Geotagging is aimed at ensuring that all prospective customers of a given company can easily locate the company in terms of service and delivery of goods (Sweeney 2004, p. 170). With regards to location, a visionary company publicizes itself and focuses on the location of its customers. With a clear understanding of the origin of customers or a customer a company is able to offer satisfactory services based on trends observed in a particular region.
In other words, through the internet, customers are able to locate the company using digital technique. Geotagging enables companies to add information regarding longitude latitude coordinates of the company to facilitate accessibility. In addition to coordinate information, companies also give photographs, video clips, and blog posts to acquaint customers with relevant information.