Chapter 6:e marketing
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This document discusses e-marketing and provides details on various e-marketing strategies and models. It begins by defining e-marketing as using technology to increase marketing efficiency and profitability. It then covers the ten rules of e-marketing, various e-marketing challenges and opportunities, different online marketing methods like email marketing and social media marketing, and models for areas like distribution, communication, and relationship building. The document concludes by outlining the typical tasks involved in developing an e-marketing plan.
Chapter 6:e marketing
- 1. Chapter 6Chapter 6 E-MarketingE-Marketing By: Marya Sholevar Fall 2014 Department of Banking and Finance
- 2. What is E-Marketing? Marketing: – Use of 4 “P’s” to meet customer’s needs E-Marketing: – Use of technology to increase efficiency of marketing – Increases company profitability and adds customer value
- 3. Ten Rules of E-Marketing 1. Power Shift from sellers to buyers 1. Increasing Velocity 1. Death of Distance 1. Global reach 1. Time compression 6. Knowledge management is key 6. Market deconstruction 6. Interoperability 6. Interdisciplinary focus 6. Intellectual capital rules (Digital City)
- 4. E-Marketing Challenges and Opportunities Markets Revenge of the Consumer Businesses Technology
- 5. Five Markets Business-to-Consumer (B2C) – Example: www.iGo.com Business-to-Business (B2B) – Example: www.amazon.com Consumer-to-Consumer (C2C) – Example: www.eBay.com Business-to-Government (B2G) Government-to-Consumer (G2C)
- 6. Methods for online marketing: E-mail marketing Blogging Pay per click marketing(ppc) Social media marketing Digital marketing Viral marketing
- 7. E-mail marketing Email marketing is promoting products through the use of email There are 2 main ingredients to an effective email marketing campaign They are to build a large list of people you can email and to write great emails The emails should be packed with free value and they should move people to buy what you’re trying to sell
- 8. Blogging Yet another but important and crucial marketing trend that has brought a huge aberration in our society Blogger was launched in 1999 by three friends. Blogging as an ardent marketing tool has really blossomed in the last some years Businesses, companies and even superstar now use blogging system for huge promotion
- 9. Pay per click marketing You have to pay for PPC ads. You target certain words and then when those words are searched for on a search engine such as Google your ad will appear. But you do have to pay every time your ad is clicked on. You need to make sure you do your homework and find out how to effectively use PPC. Otherwise you can easily lose a lot of money in a short amount of time. But if you do learn how to use PPC effectively then
- 10. Social media marketing Social media is very popular right now and it’s only getting more popular You can tap into that popularity by using social media to sell your products Just make sure you don’t SPAM people. In fact, you shouldn’t use any social media to directly sell anything Just use social media to direct people to other sites where you can then hit them with a sales pitch
- 11. Digital marketing With regards to the Internet, this is the promoting of brands using all forms of online digital advertising channels to reach consumers This includes video channels, Internet Radio, mobile phones, display or banner ads, digital outdoors, and any other form of digital media.
- 12. Viral marketing Marketing techniques that use social networks to produce an increase in brand awareness or achieve other marketing objectives (such as product sales) through self-replicating viral processes. It can be word-of-mouth delivered or enhanced by the network effects of the Internet. Viral promotions may take the form of video clips, interactive Flash games, ebooks, images, or even text messages.
- 13. Revenge of the Consumer 1930s: – Caveat emptor (“let the buyer beware”) 2000s: – Consumers have control What consumers want: – Privacy – To safeguard their children – Permission before being sent commercial email
- 14. Businesses Challenges: – Quality customer service – Information overload Opportunities: – Ways of generating revenue – Greater interdependence in their value chain
- 15. Exhibit 1 - 5 Amazon.com Uses Mass Customization to Personalize Web Pages Source: www.amazon.com Amazon.com is a registered trademark or trademark of Amazon.com, Inc. in the United States and/or other countries. © 2000 by Amazon.com. All rights reserved.
- 16. Technology Can lower costs on staff and paperwork Can be a costly investment Security issues New payment instruments Low bandwidth
- 17. E-Marketing Delivers Value = Benefits – Costs Value - customer perceptions of the product’s benefits Benefits - attributes, brand name, etc… – Add benefits through mass customization and personalization Costs - time, money, energy, and psychic – Lower costs through 24/7 convenience and one-stop shopping
- 18. Marketing Mix Components Product Price Distribution Marketing Communication Relationship Marketing
- 19. Product Through E-Marketing numerous new products emerged Breakthrough software, hardware, and services that created digital value
- 20. Price Efficiencies have been manifested through E-Marketing No need for a sales force with all order processing, billing and payments are transacted between customer and Website – Cost savings return a larger profit margin and lower prices
- 21. Distribution A primary E-Marketing application that creates customer value New ways for selling and distributing products Affects all manufacturers, service providers and intermediaries Models: – Content Sponsorship Model – Direct Selling Model – Infomediary Model – Intermediaries Model
- 22. Content Sponsorship Model Companies create valuable content or services on their Websites Self-advertising – Examples: • Yahoo! • gURL.com
- 23. Direct-Selling Model Manufacturers eliminating channel intermediaries and sell directly to consumers Known as “Disintermediation” Dell Computers
- 24. Infomediary Model An organization that collects and sells information about consumers or businesses Similar to a Market Research firm Hoover’s
- 25. Intermediary Model Brokers and agents bring buyers and sellers together but neither purchase nor take possession of the actual products – Brokerage firms • E-Trade, E-Bay, Metalsite – Agent firms • Travelocity E-tailers are firms that buy products and resell them online – “Click and mortar” stores – Example: E-Toys
- 26. E-Marketing Communication Accomplished through promotion mix elements: – Advertising – Sales Promotion – Direct Marketing – Public Relations Models: – Online Advertising Model – Online Sales Promotion Model – Content Publishing Model – Email Model
- 27. Online Advertising Model Firms purchase advertising space on Websites owned by other firms Does not include a firm’s own Website Dogpile
- 28. Online Sales and Promotion Model Sampling digital products Allows consumer to view products before purchasing E-Music
- 29. Content Publishing Model A company’s Website The displaying of a firm’s information about their product offerings on the Website to Internet users Brochureware Does not involve transactions Directed towards stakeholders Pure Fishing
- 30. E-Mail Model Three types: – Target Promotions • Companies target users through research and data mining to send e-mail • Bulk Email Software Marketing – Reverse Channel • User to firm • Customer service • Bass Pro Shops – Consumer-to-Consumer • Word of mouth
- 31. Relationship Marketing Customer Relationship Marketing (CRM) E-Marketing is able to build long-term relationships due to: – Online FAQs – Automatic e-mail responders – Customized Websites – Fax-on-demand – Supply chains integrated with the firm’s functions Model: – Community Building Model
- 32. Community Building Model Website developed to create a special interest community Users may provide information for products or services Bring consumer to concise location, making them more available for communication by a firm Creates social bonds and enhances customer relationships Ivillage
- 33. Marketing Plan Tasks Situation Analysis – Environmental Factors – Marketers collect and analyze external elements that include economic analysis, social and demographic trends, and more – Market opportunity analysis – This entails a supply and demand analysis along with a SWOT analysis. The SWOT analysis determines the strengths, weaknesses, opportunities, and threats. Selecting Target Market – marketers select the type of customer they are looking to attract.
- 34. Marketing Plan Tasks continued Setting objectives – marketers set the objectives according to the firm’s mission and resources. Designing marketing mix strategies – Develop product, pricing, distribution, and promotion strategies Action Plan – Plan the actual marketing plan implementation Budget – Set a budget for the marketing plan Evaluation Plan – Continuously evaluate the plan to make sure objectives are met.
- 35. The End.The End.