How Internet Reshapes Business Paradigm

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  • 1. Internet & Business Paradigm Janghyuk Lee Associate Professor of Marketing Korea University, Business School http://biz.korea.ac.kr/professor/janglee http://www.facebook.com/jangleeMKT
  • 2. Paradigm Shift by Fixed Internet  Unlike traditional media fixed Internet provides following advantages:      Two-way communication Multiple contents (text, voice, video) User participation (e.g., community, forum) Easy transfer of information (e.g., post scrap) New ventures on the Internet  Replacement & innovation $ 137.41B $ 298.58B © 2014, All rights reserved. Janghyuk Lee 2
  • 3. Duality of Business Targeting Criteria Size Value for Customer Benefit Functional Symbolic Experiential - Cost Value of Customer Revenue Price Opportunity Price Volume Retention rate © 2014, All rights reserved. Janghyuk Lee - Cost Acquisition Retention 3
  • 4. Duality of Business Targeting Criteria Size Value for Customer Benefit Functional Symbolic Experiential - Cost Value of Customer Revenue Price Opportunity Price Volume Retention rate © 2014, All rights reserved. Janghyuk Lee - Cost Acquisition Retention 4
  • 5. Why Internet? Finding Key Attributes: Gas price & MPG © 2014, All rights reserved. Janghyuk Lee 5
  • 6. Why Internet? Enhancing Symbolic Benefit © 2014, All rights reserved. Janghyuk Lee 6
  • 7. Why Internet? Enhancing Experiential Benefit © 2014, All rights reserved. Janghyuk Lee 7
  • 8. Why Internet? Enhancing Experiential Benefit © 2014, All rights reserved. Janghyuk Lee 8
  • 9. Why Internet? Enhancing Experiential Benefit © 2014, All rights reserved. Janghyuk Lee 9
  • 10. Why Internet? Enhancing Experiential Benefit © 2014, All rights reserved. Janghyuk Lee 10
  • 11. Gucci on the Internet Experiential Benefit vs. Opportunity Cost © 2014, All rights reserved. Janghyuk Lee 11
  • 12. Duality of Business Targeting Criteria Size Value for Customer Benefit Functional Symbolic Experiential - Cost Value of Customer Revenue Price Opportunity Price Volume Retention rate © 2014, All rights reserved. Janghyuk Lee - Cost Acquisition Retention 12
  • 13. Capturing Eyeballs YouTube © 2014, All rights reserved. Janghyuk Lee 13
  • 14. Capturing Eyeballs: On & Off-line Integration Off-line Campaign + YouTube: Coca-Cola © 2014, All rights reserved. Janghyuk Lee 14
  • 15. Capturing Eyeballs: On & Off-line Integration New Beetle campaign: Facebook + Billboard  Description   Objective   If people click ‘Like’ and upload their photos on VW Facebook page, then photos are displayed on the Billboard in Time Square with the big picture of the all-new Beetle VW launched their all-new Beetle, but, new car is far different from the original one. They needed a marketing strategy to stimulate interest in the new vehicle Results     Over 26,700 people “Liked” Volkswagen USA on Facebook Over 1,000 postings on Facebook a day Over 3,000 Postings on blogs through viral marketing Created a good relationship with their customers © 2014, All rights reserved. Janghyuk Lee 15
  • 16. Capturing Eyeballs: On & Off-line Integration Social TV: Bluefin Labs © 2014, All rights reserved. Janghyuk Lee 16
  • 17. Customer Engagement Georgia Japan: Weekly Mobile Magazine © 2014, All rights reserved. Janghyuk Lee 17
  • 18. Duality of Business Targeting Criteria Size Value for Customer Benefit Functional Symbolic Experiential - Cost Value of Customer Revenue Price Opportunity Price Volume Retention rate © 2014, All rights reserved. Janghyuk Lee - Cost Acquisition Retention 18
  • 19. Targeting: Interest Base Keyword Advertising © 2014, All rights reserved. Janghyuk Lee 19
  • 20. Targeting: Interest Base Search & Sales Share © 2014, All rights reserved. Janghyuk Lee 20
  • 21. Targeting: Location Base AT&T Alerts (Mobile Coupon) © 2014, All rights reserved. Janghyuk Lee 21
  • 22. Targeting: Network Base Facebook Advertising © 2014, All rights reserved. Janghyuk Lee 22
  • 23. Evolution of Purchase & Impact of Mobile Internet  Search & purchase  Before fixed Internet   After fixed Internet    Search: on-line → Purchase: off-line Search: on-line → Purchase: on-line After mobile Internet   Search: off-line → Purchase: off-line Search: off-line → Purchase: on-line Mobile Internet vs. Fixed Internet    Instantaneous Context specific Ubiquitous (source: Google Think) © 2014, All rights reserved. Janghyuk Lee 23