Adapting Marketing To The New Economy   by <ul><li>Yohan Wismantoro </li></ul><ul><li>Management Department </li></ul><ul>...
<ul><ul><li>The Internet will create new winners and bury the laggards. </li></ul></ul>Kotler on  Marketing
Adapting Marketing to the New Economy <ul><li>Four Major Drivers of the  New Economy : </li></ul><ul><ul><li>Digitization ...
Procter & Gamble’s Reflect.com site allows customers to design their own beauty products
“ How Business Practices are Changing” Table 2-1: Old Economy vs. New Economy Organize by customer segments Focus on custo...
<ul><li>E-Business and E-Commerce (B2C, B2B, C2C, C2B, pure click or dot-coms, click and brick: channel conflicts?) </li><...
B2C: Customers can shop online at Calyx and Corolla or ask for a catalog and shop by phone
B2B: www.transora.com: global online marketplace for the consumer packaged goods industry
A “Pure Click” company: CarPoint, the leading metamediary for car buying, exists only on the Web.
Which is more important for developing an e-presence: the agility of a pure click company, or the well defined and readily...
Table 2-2: Setting  Up a  Dot-com Presence (p. 49) See text for more info. on retailers, site organization, profits … Attr...
Placing Ads and Promotions Online (p. 50) <ul><ul><li>Banner ads (53% of ad expenditures online; click-through rates only ...
Infogate.com “pushes” targeted content and ads to those who are interested in a product or product category
Measures of Effectiveness for Internet Advertising: <ul><ul><li>Viewers  (stay on site/page): number of viewers to a site ...
Adapting Marketing to the New Economy  (pp. 51-52) <ul><ul><li>Building a Revenue and Profit Model  </li></ul></ul><ul><ul...
Customer Relationship Marketing  (CRM) Table 2-3:  Mass Marketing vs. One-to-One Marketing (CRM) (p. 53) Individual custom...
Adapting Marketing to the New Economy  (pp. 53-56) <ul><ul><li>Database Marketing : A process by which companies collect i...
Marketing Knowledge Management <ul><li>Marketing knowledge  </li></ul><ul><li>= the digitized “group mind”  </li></ul><ul>...
Uses of Knowledge Management in Two Industries  Source : Adapted from Kalakota and Robinson (1999 ) Back Wal-Mart Kmart Se...
NEW ECONOMY <ul><li>Don Tapscott (1997) : “ Digital Economy :  Promise And Peril In The Age Of Networked Intellegency “, m...
Digital Convergence <ul><li>Hal penting dalam perubahan teknologi terhadap tata kehidupan manusia adalah dapat disatukanny...
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Consumer Behavior People In The Marketplace Pasca

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Consumer Behavior People In The Marketplace Pasca

  1. 1. Adapting Marketing To The New Economy by <ul><li>Yohan Wismantoro </li></ul><ul><li>Management Department </li></ul><ul><li>Dian Nuswantoro University </li></ul>Retailing in E-Commerce : Product and Service
  2. 2. <ul><ul><li>The Internet will create new winners and bury the laggards. </li></ul></ul>Kotler on Marketing
  3. 3. Adapting Marketing to the New Economy <ul><li>Four Major Drivers of the New Economy : </li></ul><ul><ul><li>Digitization and Connectivity </li></ul></ul><ul><ul><li>Disintermediation and Reintermediation </li></ul></ul><ul><ul><li>Customization and Customerization </li></ul></ul><ul><ul><li>Industry Convergence </li></ul></ul>
  4. 4. Procter & Gamble’s Reflect.com site allows customers to design their own beauty products
  5. 5. “ How Business Practices are Changing” Table 2-1: Old Economy vs. New Economy Organize by customer segments Focus on customer lifetime value Look also at marketing scorecard Focus on stakeholders Everyone does the marketing Build brands through behavior Focus on customer retention and growth Measure customer satisfaction and retention rate Underpromise, overdeliver Organize by product units Focus on profitable transactions Look primarily at financial scorecard Focus on shareholders Marketing does the marketing Build brands through advertising Focus on customer acquisition No customer satisfaction measurement Overpromise, underdeliver New Economy Old Economy
  6. 6. <ul><li>E-Business and E-Commerce (B2C, B2B, C2C, C2B, pure click or dot-coms, click and brick: channel conflicts?) </li></ul><ul><li>Why did so many dot-coms fail?? </li></ul><ul><li>(see p. 46) </li></ul><ul><li>Web Sites (setting up/attractiveness; </li></ul><ul><li>online advertising and measurement; </li></ul><ul><li>revenue and profit model) </li></ul><ul><li>Customer Relationship </li></ul><ul><li>Marketing (CRM): database </li></ul><ul><li>marketing, data warehouses, </li></ul><ul><li>data mining, problems with </li></ul><ul><li>database marketing? </li></ul>How Marketing Practices are Changing:
  7. 7. B2C: Customers can shop online at Calyx and Corolla or ask for a catalog and shop by phone
  8. 8. B2B: www.transora.com: global online marketplace for the consumer packaged goods industry
  9. 9. A “Pure Click” company: CarPoint, the leading metamediary for car buying, exists only on the Web.
  10. 10. Which is more important for developing an e-presence: the agility of a pure click company, or the well defined and readily identifiable resources of a traditional brick and mortar company? Discussion Question
  11. 11. Table 2-2: Setting Up a Dot-com Presence (p. 49) See text for more info. on retailers, site organization, profits … Attracting and Keeping Visitors How can we get more prospects to know and visit our site? How can we use marketing to spread word-of-mouth? How can we convert visitors into repeaters? How do we make our site more experiential and real? How can we build a strong relationship with our customers? How can we build a customer community? How can we capture and exploit customer data for up-selling and cross-selling? How much should we spend on building and marketing our site? Advertising on the Internet What are the various ways that we can advertise on the Internet? How do we choose the right sites for placing our ads or sponsorship?
  12. 12. Placing Ads and Promotions Online (p. 50) <ul><ul><li>Banner ads (53% of ad expenditures online; click-through rates only .5%) </li></ul></ul><ul><ul><li>Sponsorships (30% of ad expend. online) </li></ul></ul><ul><ul><li>Microsite (small area paid for by ext. co.) </li></ul></ul><ul><ul><li>Interstitials/pop-ups </li></ul></ul><ul><ul><li>Browser ads (viewer is paid to watch ads) </li></ul></ul><ul><ul><li>Alliances and affiliate programs (e.g., AOL and Amazon) </li></ul></ul><ul><ul><li>Push technology (e.g., Real Video; </li></ul></ul><ul><ul><li>Infogate) </li></ul></ul><ul><ul><li>See Belch and Belch (2004) Advertising and Promotion and IMC , Chapter 15 for strengths and weaknesses of Internet advertising. </li></ul></ul>
  13. 13. Infogate.com “pushes” targeted content and ads to those who are interested in a product or product category
  14. 14. Measures of Effectiveness for Internet Advertising: <ul><ul><li>Viewers (stay on site/page): number of viewers to a site (and unique viewers) </li></ul></ul><ul><ul><ul><li>Ad views/page views/impressions : the number of times viewers see a Web page with an ad. (used to calculate cost per thousand or CPM). </li></ul></ul></ul><ul><ul><li>Hits (leave the site or home page): number of times a specific component of a site is requested/clicked on. </li></ul></ul><ul><ul><ul><li>Clicks/click throughs : the number of visitors to a site that click on an ad to retrieve information. </li></ul></ul></ul><ul><ul><ul><li>Click through rate : % of ad views that result in an ad click. (Cost per click can be calculated) </li></ul></ul></ul><ul><ul><li>Cost per thousand (CPM) example for “go.com” : </li></ul></ul><ul><ul><ul><li>CPM = $10,000 per mo. x 1000 / 500,000 views per mo. = $20 </li></ul></ul></ul>
  15. 15. Adapting Marketing to the New Economy (pp. 51-52) <ul><ul><li>Building a Revenue and Profit Model </li></ul></ul><ul><ul><ul><li>Advertising income </li></ul></ul></ul><ul><ul><ul><li>Sponsorship income </li></ul></ul></ul><ul><ul><ul><li>Membership and subscriptions (e.g., WSJ) </li></ul></ul></ul><ul><ul><ul><li>Profile income (privacy?) </li></ul></ul></ul><ul><ul><ul><li>Product and service sales </li></ul></ul></ul><ul><ul><ul><li>Transaction commission and fees (other parties; eBay) </li></ul></ul></ul><ul><ul><ul><li>Market research/information </li></ul></ul></ul><ul><ul><ul><li>Referral income (Edmund’s finders fee) </li></ul></ul></ul>
  16. 16. Customer Relationship Marketing (CRM) Table 2-3: Mass Marketing vs. One-to-One Marketing (CRM) (p. 53) Individual customer Customer profile Customized market offering Customized production Individualized distribution Individualized message Individualized incentives Two-way messages Economies of scope Share of customer Profitable customers Customer retention Average customer Customer anonymity Standard product Mass production Mass distribution Mass advertising Mass promotion One-way message Economies of scale Share of market All customers Customer attraction One-to-One Marketing Mass Marketing
  17. 17. Adapting Marketing to the New Economy (pp. 53-56) <ul><ul><li>Database Marketing : A process by which companies collect information on consumers, analyze to predict who will buy, and then develop tailored messages to those consumers. ( Bus. Week 1994) The ideal consumer = high volume user </li></ul></ul><ul><ul><li>Data Warehouse : storage files for data collected by the company’s contact center from customer purchases, customer service calls, online inquiries, mail-in rebate cards, etc. </li></ul></ul><ul><ul><li>Data Mining : extracting useful information about individuals, trends, and segments from the data. </li></ul></ul><ul><ul><li>Any problems with database marketing?? </li></ul></ul>
  18. 18. Marketing Knowledge Management <ul><li>Marketing knowledge </li></ul><ul><li>= the digitized “group mind” </li></ul><ul><li>= “collective memory” of the marketing personnel and sometimes of consultants, partners, and former employees. </li></ul><ul><li>Sometimes the knowledge management technology even allows marketing staff to chat in real time for problem solving, which is why the system also includes contact information. </li></ul>
  19. 19. Uses of Knowledge Management in Two Industries Source : Adapted from Kalakota and Robinson (1999 ) Back Wal-Mart Kmart Sears Osco/Savon Drugs Casino Supermarkets W. H. Smith Books Otto Versand Mail Order Amazon.com Scanner Check-Out Data Analysis Sales Promotion Tracking Inventory Analysis and Deployment Price Reduction Modeling Negotiating Leverage with Suppliers Frequent-Buyer Program Management. Profitability Analysis Product Selection for Markets Representative Firm Use in the Retail Industry AT&T Ameritech Belgacom British Telecom Telestra Australia Telecom Ireland Telecom Italia Scanner Check-Out Data Analysis Call Volume Analysis Equipment Sales Analysis Customer Profitability Analysis Cost and Inventory Analysis Purchasing Leverage with Suppliers Frequent-Buyer Program Management Representative Firm Use in the Telecom Industry
  20. 20. NEW ECONOMY <ul><li>Don Tapscott (1997) : “ Digital Economy : Promise And Peril In The Age Of Networked Intellegency “, memaparkan bagaimana perekonomian bergeser menuju pada perekonomian baru yang disebut sebagai digital economy </li></ul><ul><li>Perekonomian baru ( digital economy ) adalah perekonomian yang didasarkan pada ilmu pengetahuan, sehingga disebut juga dengan knowledge economy </li></ul>
  21. 21. Digital Convergence <ul><li>Hal penting dalam perubahan teknologi terhadap tata kehidupan manusia adalah dapat disatukannya tiga kegiatan pokok yaitu computing, communication dan content dalam satu sistem yaitu multimedia. </li></ul>Computing Content Communications Interactive Multimedia Experience
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