E-Commerce Certificate Program Presentation Core Marketing Strategies: Interfaces with Electronic Commerce by Dr. Bert Rosenbloom Professor of Marketing and Rauth Chair in Electronic Commerce - PowerPoint PPT Presentation

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E-Commerce Certificate Program Presentation Core Marketing Strategies: Interfaces with Electronic Commerce by Dr. Bert Rosenbloom Professor of Marketing and Rauth Chair in Electronic Commerce

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Title: E-Commerce Certificate Program Presentation Core Marketing Strategies: Interfaces with Electronic Commerce by Dr. Bert Rosenbloom Professor of Marketing and Rauth Chair in Electronic Commerce


1
E-Commerce Certificate Program PresentationCore
Marketing Strategies Interfaces with Electronic
CommercebyDr. Bert RosenbloomProfessor of
Marketing andRauth Chair in Electronic Commerce
2
  • Marketing as an organized business discipline has
    existed for over eight decades.
  • The principles and core marketing concepts of
    modern marketing management have emerged over the
    past 50 years.
  • The Crucial Question
  • Will E-commerce require the repeal of these
    core marketing concepts and strategies as we
    begin the 21st century?

3
The Marketing Concept and E-CommerceSince the
1950s this has been the philosophical
underpinning for all of modern marketing
management
  • Customer focus
  • External orientation
  • Profitable sales volume

Does the marketing concept need to change in the
world of E-commerce? E-commerce culture and its
followers say Yes Legacy, land-based,
conventional, old economy followers say No
4
The Marketing Mix and E-Commerce
  • Marketing strategy boils down to a balanced
    blending of product, price, promotion, and
    placement strategies (the four Ps) so as to meet
    the needs of customers better than the
    competition
  • Is the marketing mix model still relevant in the
    world of E-commerce?
  • In the world of E-commerce, maybe its the fourth
    P, placement strategy that dominates the
    marketing mix.
  • Why?
  • Because E-commerce is really all about the
    channels through which products are sold.

5
Target Marketing and E-CommerceDoes it still
make sense for firms to identify, focus on, and
develop, particular customer groups--- target
markets given the vast reach provided by the
Internet to mass markets?Are the dimensions for
analyzing target markets still
  • Market size
  • Market location
  • Market density
  • Market heterogeneity
  • Market behavior
  • 1) when the market buys
  • 2) where the market buys
  • 3) how the market buys
  • 4) who does the buying

6
Market Segmentation and E-CommerceIs the process
of taking large heterogeneous markets and
breaking them into smaller more homogeneous
sub-markets (market segmentation) enhanced or
inhibited by E-commerce technology?
  • Are these requirements for segmenting markets
    still valid?
  • Identity
  • Accessibility
  • Responsiveness
  • Significance
  • Are the bases for segmenting markets still the
    same?
  • Demographics
  • Psychographics
  • Benefits sought
  • Usage rates
  • Loyalty

7
E-Commerce and Marketings Quest for Sustainable
Competitive Advantage
  • Sustainable Competitive Advantage
  • A competitive advantage that cannot be quickly
    and easily copied by competitors
  • Question
  • Is the concept of a sustainable competitive
    advantage realistic for marketers to pursue in
    the extraordinarily fast-paced, and brutally
    competitive E-commerce arena?

8
Relationship Marketing and E-CommerceRelationship
Marketing the development and maintenance of
long-term,cost-effective relationships with
customers in order to retain their preference.
  • Standard Marketing Tools for Budding
    Relationships
  • Affinity programs
  • Frequent-buyer/user programs
  • Database mining
  • Partnerships (strategic alliances)
  • Co-marketing and co-branding
  • Lifetime value of customer analysis
  • Question
  • Can all of this be done at arms length via the
    Internet?

9
Adopter Categorization of the Basis of Relative
Time of Adoption of Innovations
34 Early majority
34 Late majority
13.5
2.5 Innovators
16 Laggards
Early adopters
Time of adoption of innovations
10
Buyer Behavior Models and E-CommerceDo
conventional models of consumer and
organizational buyer behavior apply to E-commerce?
  • B2C Consumer Buying Process
  • 1. Problem Recognition
  • 2. Information Search
  • 3. Alternative Evaluation
  • 4. Purchase
  • 5. Post-purchase Experience
  • B2B Organizational Buying Process
  • 1. Problem Recognition
  • 2. General Description of Need
  • 3. Detailed Description of Product
    Specification
  • 4. Supplier Search
  • 5. Acquisition and Analysis of Proposals
  • 6. Supplier Selection
  • 7. Selection of an Order Route
  • 8. Performance Review

11
Product Differentiation Strategy and E-Commerce
  • Is the creation of distinctions among products so
    that customers will seek out and pay more for
    certain products (product differentiation
    strategy) still feasible in the world of
    E-commerce?
  • Does the near perfect information provided by the
    Internet make product differentiation more
    difficult to achieve?
  • Will E-commerce eventually spell the end of
    product differentiation as a viable marketing
    strategy as the Internet commoditizes virtually
    all products?

12
Positioning Strategy and E-Commerce
  • Positioning is not what you do to the product,
    but what you do to the mind.
  • from The New Positioning by Jack Trout
  • Can a product or organization be successfully
    positioned in customers minds as being more
    desirable than the competition given the power of
    E-commerce to level the playing field?
  • Coke vs. Pepsi
  • Mercedes vs. BMW or Lexus
  • Charles Schwab vs. E Trade vs. Merrill Lynch
  • Amazon v.s Barnes Noble
  • Is the battle for the customers mind in
    positioning strategy really only about
    information?

13
Product Life Cycle and E-Commerce
  • Stage I Introduction
  • Stage II Growth
  • Stage III Maturity
  • Stage IV Saturation
  • Stage V Decline
  • Do product life cycles exist in E-commerce?
  • Will product life cycles be shorter, longer or
    unchanged by the effects of E-commerce?
  • Do product life cycles need to be managed
    differently because of E-commerce?
  • Does E-commerce provide the capabilities to
    reinvigorate the PLC?

14
Product Branding Strategy and E-Commerce
  • Stages in brand building
  • 1. Brand awareness
  • 2. Brand acceptability
  • 3. Brand preference
  • 4. Brand loyalty
  • 5. Brand equity
  • Questions
  • Have these concepts changed in the world of
    E-commerce?
  • Are they any less important?
  • Does E-commerce make it easier to move through
    the stages?
  • Will E-commerce undermine brand building?

15
Price Sensitivity and
E-CommercePricing strategy in marketing has
traditionally focused on reducing price
sensitivity by
  • Distinctiveness (product differentiation and
    positioning)
  • Quality
  • Making comparisons difficult
  • Undermining the substitution effect
  • Exploiting the income effect
  • With the awesome power of the Internet to provide
    near perfect information are such pricing
    strategies still available?

16
Specialized Pricing Strategies and
E-CommerceThe following specialized pricing
strategies have become an integral part of modern
marketing practice
  • Price lining
  • Leader pricing
  • Psychological pricing
  • Price point pricing
  • One price pricing
  • Private brand pricing
  • Prestige pricing
  • Discounts and allowances
  • Geographical pricing
  • Will these pricing strategies be affected by
    E-Commerce?

17
Classic Marketing Channel Strategies and
E-Commerce
  • Dual Distribution
  • Exclusive Dealing
  • Full-line Forcing
  • Price Discrimination
  • Price Maintenance
  • Refusal to Deal
  • Resale Restrictions
  • Tying Agreements
  • Are these conventional channel strategies
    applicable to E-commerce channels?

18
Promotional Strategy and E-Commerce
RECEIVER
Media
SENDER
Message
Decoding
Encoding
Noise
Response
Feedback
Does this model still apply for E-commerce?
19
Promotion Models and E-CommerceAre these still
relevant for E-commerce?
Communi- cations Model d
AIDA Model a
Innovation- Adoption Model c
Hierarchy-of- Effects Model b
Stages
Cognitive stage
Attention
Awareness Knowledge
Awareness
Exposure Reception Cognitive response
Affective stage
Interest Desire
Liking Preference Conviction
Interest Evaluation
Attitude Intention
Behavior stage
Action
Purchase
Trial Adoption
Behavior
20
Pull vs. Push Promotion and E-Commerce
Producer
End users
Interme- diaries
Marketing activities
Demand
Push Strategy
Demand
Marketing activities
End users
Interme- diaries
Producer
Demand
Demand
Pull Strategy
Still a valid dichotomy?
21
E-Commerce and the Five Ms of Advertising
Still applicable for E-commerce?
22
E-Commerce and the Selling Process(Will this
have a role?)
Prospecting and qualifying
Preapproach
Approach
Presentation and demonstration
Overcoming objections
Closing
Follow-up and maintenance
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