This sequence indicates a prevailing spot in the antagonism of an innovating business. McCormick understood the significance of product, promotion, place, and price Innovation tactics. Cyrus McCormick success in business may have subsidized an end to the southern way of life and building the foundation for modern day business. McCormick succeeded in developing innovative tactics and practices associated with product, place (distribution), promotion, and price which drove his success, and lack thereof to the replacement of the reaper.McCormick was very thoughtful about place (distribution).
In fact, one of his first plants was positioned on the river and lake front, with barges and sailboats able to load on one side of the plant and a railway line on the other, making for efficient means of transporting the product to consumers. In the early sass's as McCormick reaper began to grow, McCormick Increased distribution of his Invention by setting up local agents and sub agents in different cities.These agents were contractually obligated to maintain a sample machine reaper and satisfy any customer concern. McCormick effectively distributed his reaper while maintaining customer focus through informed pub-agents. Cyrus McCormick created his own magazine featuring consumer testimonials and performed field demonstrations; developing innovative promotion 1 OFF McCormick introduced a standard pricing and term payment, gaining competitive advantage over competitors through his effective pricing tactics.
McCormick failed to build on innovative product practices. Even though, he used many different techniques of product quality; sending instructions to assemble the reaper for the customer or a money back warranty, on-going product innovation was not his trench and this was caused by the lack of improvements to the product allowing the product to grow and adapt with the changes in demand over time. Many could argue that it was a combination of product innovation and marketing innovation that got McCormick to the top of his industry.However, the root of McCormick success was in his innovative marketing techniques. From the beginning, McCormick was ready to improve his father's rather diminished reaper invention.
With his product at the top of the charts, he had to get farmers everywhere to use his reaper rather than competitor's imitations. From the sass's to the sass's product shipment was done through the canal system, but McCormick received a major break when he began to use the railroad system in the mid-west. McCormick was not the first to build a mechanical reaper. But as the first to embrace the vast markets of the emerging American Midwest, he built a company that changed agriculture forever.
" This statement is the best explanation to McCormick success through his marketing skills. Without his discovery of the mid-west railroad system to ship his products at more affordable costs, we may have never heard of Cyrus McCormick. Marketing was not only the aid to McCormick success; it is what ultimately made him successful.McCormick astute mass marketing abilities increased product recognition, propelled profits, discredited his competitor's imitations, and changed the modern business.
The use of computers, robotics, and technological advances such as automated irrigation systems, automated food processing machinery, and packaging systems have been the driving force behind the vast advances in food production. These technological innovations have increased productivity and quality while reducing abort costs, food losses, resources, and minimizing environmental impact.The food production industry has transformed into a multi-stage cost-cutting process, but McCormick concepts of irrigation, insect control, and hybrid seeds are still in use. Farmers are able to mass produce higher quality products with longer shelf life as a result of technological improvements in agricultural production and food processing systems allowing for quicker turn-over time from supplier to consumers while minimizing food losses, generating a shorter reaction time to the constantly changing nonuser demands.Computerized irrigation and crop rotation, more efficient harvesters as well as the use of enhanced seeds has allowed farmers to produce more crops while cutting costs. The internet has propelled marketing to new heights.
Clever food giants have infiltrated our conscience by advertising on social media sites. The use of testimonials to support the quality of a product, or providing positive information within a viral ad campaign with less desirable information crunched into small print, are all marketing techniques that propel products today.