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Chapter 10 Marketing on the Internet

Chapter 10 Marketing on the Internet. OBJECTIVES. Pros and Cons of Online Shopping Internet Marketing Techniques E-Cycle of Internet Marketing Marketing Your Presence Attracting Customers to Site Tracking Customers. Pros Sorting through choices Vast product selection

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Chapter 10 Marketing on the Internet

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  1. Chapter 10Marketing on the Internet

  2. OBJECTIVES • Pros and Cons of Online Shopping • Internet Marketing Techniques • E-Cycle of Internet Marketing • Marketing Your Presence • Attracting Customers to Site • Tracking Customers

  3. Pros Sorting through choices Vast product selection Quick comparison of products Cons Experimental information might be necessary E.g. perfumes, clothes Delivery of products might be cumbersome E.g. lumber ONLINE SHOPPING

  4. REASONS FOR GOING ONLINE • Establish presence • Serve your customers • Heighten public awareness • Share time-sensitive information • Sell goods • Answer important questions

  5. REASONS FOR GOING ONLINE (Cont’d) • Stay in touch with field personnel • Market at international level • Serve at local market • Market specialized products • Reach the youth market

  6. INTERNET MARKETING TECHNIQUES Pull to Push Continuum PASSIVE AGGRESSIVE Providers of Information Site registered with many search engines Specialized services to users requesting information Specialized email to users requesting periodic information Offline Advertising Banner Advertising Targeted E-mails to Past Customers Spam Mail Chain Mail Advertising

  7. FORMULA SNI = Consideration Gap X Site-to-Product Affinity Consideration Gap • = Price/Purchase Frequency • Intensity of pre-purchase deliberation Site-to-Product Affinity • Sales viability + Research intensity + configurability + Service level • Ability to deliver online experience correlated to the product/service

  8. FORMULA (Cont’d) Whereby • Price = How expensive the product compared with other household purchase? • Purchase frequency = How often does the household purchase the product? • Service level = How much customer service does the product need online? • Research intensity = How research-intensive is the purchase decision? • Configurability = How customizable is the product? • Sale viability = How viable are online sales of the product?

  9. E-CYCLE OF INTERNET MARKETING • Planning • Product • Pricing • Place • Promotion

  10. BUSINESS PLANNING • Business Plan • Written document identifying your business goals and how you will achieve them • Elements • Mission / Vision • Product • Competition • Target audience • Marketing • Sales plan • Operation • Technology

  11. PRODUCT & PRICING • Product • Emphasize on viability, quality and integrity • Physical vs. Service • Pricing • Frequent purchase plans • Online auctions

  12. PLACE • Exchange of information between businesses and delivery companies • Ensure prompt delivery of physical goods to customers • Related to fulfillment • Internet • A delivery channel for digital products • Cheap, fast, effective • Possibility of tapping / theft of digital data

  13. PROMOTION • Get prospective visitors’ attention • Create interests in a product • Build a desire in the product • Banners • Internet ads • Cheap and fit traditional ad-agency formula

  14. PERSONALIZATION • Combination of Promotion and Product • For customers to receive personalized information • “Artificial Intelligence” incorporated into Internet Marketing

  15. MARKETING IMPLICATIONS • Content • Dynamic and Attractive Sites • Brands • Get to the Point • Promotion • Online Events • Free Giveaways • Consistency

  16. PROMOTING YOUR SITE ON YOUR SITE • Begins with domain name • Encourage repeat site visits • Update site content • Share with your visitors any new awards • Use promotional giveaways, contests, etc.

  17. PROMOTING YOUR SITE ON THE WEB • Search engines and directories • Stand out from other sites • Brainstorm keywords for robot search • Ensure the site design is flawless before submitting to search engines

  18. PROMOTING YOUR SITE ON THE INTERNET • Use e-mails to contact registered customers • Use news groups and mailing lists

  19. ATTRACTING CUSTOMERS TO SITE • Keeping site content current • Offering free information or products • Offer a free service as a way to entice customers online for B2B • Implementing cross-selling strategy • Ensuring easy and quick navigation • Introducing event marketing • Enlisting affiliates

  20. ATTRACTING CUSTOMERS TO SITE (Cont’d) • Cultural Differences • How to market to local customers • Predicting Buying Behavior • Save time • Young, educated, and wealthier population

  21. PERSONALIZATION • Identification • Determining buyers’ buying pattern • Marketing attractive products • How to add personalization • Keywords • Collaborative filtering • Rule-based

  22. TRACKING CUSTOMERS • Gathering Web data • Log files • Forms • Cookies • Persistent vs. Session • Clickstream data analysis • Role of shopbot • Searches sites to compare prices

  23. Chapter 10Marketing on the Internet

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