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Marketing In The Digital Age
 

Marketing In The Digital Age

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    Marketing In The Digital Age Marketing In The Digital Age Presentation Transcript

    • Chapter Fourteen Marketing in the Digital Age
      • Discuss how the digital age is affecting both consumers and the marketers who serve them.
      • Explain how companies have responded to the Internet and other powerful new technologies with e-business strategies, and how these strategies have resulted in benefits to both buyers and sellers.
      • Describe the four major e-marketing domains.
      • Discuss how companies go about conducting e-marketing to profitably deliver more value to customers.
      • Overview the promise and challenges that e-commerce presents for the future.
      • Background
      • Began selling books; now markets many other merchandise lines.
      • One of the best known names on the Web.
      • Sales have been strong but firm did not turn a profit until 2003.
      • Skeptics predict tougher times in years to come.
      Case Study
      • Marketing Efforts
      • Customer-driven: strives to design the best customer experience on the Web.
      • Personalized sign-on pages and recommendations, huge selection, good value, and convenience result in strong buyer relationships.
      • Will Amazon become the Wal-Mart of the Web?
      Amazon.com – Online Pioneer
    • Forces Shaping the Digital Age
      • Digitalization andConnectivity
        • Intranets
          • connect people within a company.
        • Extranets
          • connect a company with its suppliers, distributors, and outside partners.
        • Internet
          • connects users around the world.
    • Forces Shaping the Digital Age
      • Internet Explosion
        • Explosive worldwide growth forms the heart of the New Economy.
        • Increasing numbers of users worldwide, and broadband users in the U.S.
        • Greater numbers of consumers are accessing information on the Internet.
        • Companies must adopt Internet technology or risk being left behind.
    • Marketing Strategy in the Digital Age
      • Requires a new model for marketing strategy and practice.
      • Companies need to retain old skills and practices but add new competencies.
    • E-Business in the Digital Age
      • Involves the use of electronic platforms to conduct company business.
        • Web sites for selling and customer relations.
        • Intranets for within-company communication.
        • Extranets connecting with major suppliers and distributors.
    • E-Commerce in the Digital Age
      • More specific than e-business.
      • Involves buying and selling processes supported by electronic means, primarily the Internet.
      • Includes:
        • e-marketing
        • e-purchasing (e-procurement)
    • E-Marketing in the Digital Age
      • The marketing side of e-commerce.
      • Includes efforts to communicate about, promote, and sell products and services over the Internet.
      • E-purchasing is the buying side of e-commerce.
        • It consists of companies purchasing goods.
    • Benefits to Buyers
      • Convenience.
      • Buying is easy and private.
      • Provides greater product access and selection.
      • Provides access to comparative information.
      • Buying is interactive and immediate.
    • Benefits to Sellers
      • Powerful tool for building customer relationships.
      • Can reduce costs.
      • Can increase speed and efficiency.
      • Offers greater flexibility in offers and programs.
      • Is a truly global medium.
    • E-Marketing Domains
      • Business to consumer (B2C)
      • Business to business (B2B)
      • Consumer to consumer (C2C)
      • Consumer to business (C2B)
    • Business to Consumer (B2C)
      • The online selling of goods and services to final consumers.
        • Expected to generate $316 billion in 2010, or 13% of retail sales.
        • There is increasing diversity in buyers.
          • This provides increasing opportunities for targeting markets.
        • Is customer initiated and controlled, requiring new marketing approaches.
    • Business to Business (B2B)
      • B2B sales dwarf B2C sales:
        • B2B e-commerce was nearly $4 trillion in 2003.
        • Uses trading networks, auction & barter sites, spot exchanges, online product catalogs, and more.
      • Most major B2B marketers offer online product information, purchasing, and support.
      • Open trading exchanges:
        • huge specialty e-marketspaces to conduct transactions.
      • More private trading exchanges are being developed for B2B transactions.
    • Consumer to Consumer (C2C)
      • Occurs on the Web and includes a wide range of products and services.
        • Auction sites such as eBay offer marketplaces to buy or exchange goods.
        • Blogs and forums facilitate information interchanges.
          • Blog : online journals where people post thoughts on a narrowly defined topic.
          • Forums: discussion groups located on commercial online services.
    • Consumer to Business (C2B)
      • Consumers can search out sellers, view offers, initiate purchases, and give feedback.
        • Example: on priceline.com, one can bid for airline tickets, hotel rooms, etc., and decide whether to accept company offers.
    • Click-Only Companies
      • E-tailers
      • Search engines and portals
      • Shopping comparison sites
      • Internet service providers
      • Transaction sites
      • Content sites
    • Reasons for dot.com Failures
      • Poor research or planning.
      • Relied on spin and hype instead of marketing strategies.
      • Spent too heavily on brand identities.
      • Devoted too much effort to acquiring new customers instead of building loyalty.
    • Click-and-Mortar Companies
      • Established firms initially resisted adding Web sites because of channel conflict and cannibalization concerns.
      • Risk of online competition forced firms to become click-and-mortar companies. Most are now doing better than click-only companies because of:
        • Trusted brand names and more resources
        • Large customer bases
        • More knowledge and experience
        • Good relationships with suppliers
        • Can offer customers more options
    • Online Marketing
      • Creating a Web site
      • Placing ads and promotions online
      • Setting up and participating in Web communities
      • Using e-mail
    • Types of Web Sites
      • Corporate Web Site:
      • Designed to build customer goodwill and supplement other sales channels.
        • Offers information to customers.
        • Builds closer customer relationships.
        • Generates excitement about the company.
    • Types of Web Sites
      • Marketing Web Site:
      • Engages consumers in an interaction that moves them closer to a direct purchase or other marketing outcome.
        • May include catalogs, shopping tips, promotional features, and more.
    • Designing Attractive Web Sites
      • The 7 Cs of Effective Web Site Design:
        • Context
        • Content
        • Community
        • Customization
        • Communication
        • Connection
        • Commerce
      • Constant change helps encourage repeat visits.
    • Online Ads
      • Forms of online advertising:
        • Banner ads:
          • Tickers (move across the screen)
          • Skyscrapers (tall, skinny ads at the side of a page)
          • Rectangles (boxes that are larger than a banner)
        • Interstitials (pop up OR pop under between changes on Web site)
        • Search-related ads (contextual advertising)
        • Rich media ads (incorporate animation, video, sound, and interactivity).
    • Online Promotion
      • Forms of online promotion:
        • Content sponsorships (sponsoring special content)
        • Microsites (limited areas paid for by an external company)
        • Alliances and affiliate programs (work with firms to promote each other)
        • Viral marketing (Internet version of word-of-mouth)
    • The Future of Online Advertising
      • May grow to 10-15% of media mix for low-involvement product categories.
      • Web communities:
        • Allow members to congregate online and exchange views on issues of interest.
      • E-mail:
        • Use of “enriched” e-mail messages.
        • Backlash against spam can be problem.
        • Allow people to opt-out of promotions.
    • E-Commerce Problems and Challenges
      • Likely that online marketing will remain a technique working with full IMC mix.
      • Internet profitability remains problematic for B2C firms.
      • Navigation difficulties continue as the number of Web sites grows.
      • Dot.com retailers are facing growing competition.
      • Legal and ethical issues also exist.
    • Legal and Ethical Issues
      • Online privacy
      • Online security
      • Internet fraud
      • Segmentation and discrimination
      • Access by vulnerable or unauthorized groups
      • Discuss how the digital age is affecting both consumers and the marketers who serve them.
      • Explain how companies have responded to the Internet and other powerful new technologies with e-business strategies, and how these strategies have resulted in benefits to both buyers and sellers.
      • Describe the four major e-marketing domains.
      • Discuss how companies go about conducting e-marketing to profitably deliver more value to customers.
      • Overview the promise and challenges that e-commerce presents for the future.