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CHAPTER FOURTEEN

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Internet marketing available to all sizes and types of firms. Elements essential for survival: ... CREATING AN INTERNET MARKETING PLAN - THE GOAL ... – PowerPoint PPT presentation

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Title: CHAPTER FOURTEEN


1
CHAPTER FOURTEEN
INTERNET MARKETING
2
A NEW BUSINESS FRANCHISE
  • The Internet is more than just an advertising
    tool - it is a new business franchise.
  • Customers can do many of the same things at a
    virtual store as at a brick-and-mortar store

1. Find out about products and services you
sell 2. Get answers to questions 3. Leave
messages for people in the firm 4. Solve
problems 5. Learn more about your company 6. Make
purchases
3
PLAYING IN THE BIG LEAGUE
  • Internet marketing available to all sizes and
    types of firms
  • Elements essential for survival
  • Offer products customers want, need, or desire
  • Use promotion to create awareness
  • Ensure products available when customer wants
  • Sell products at fare exchange

4
THE CUSTOMER IS KING
  • Direct selling over the Internet has changed the
    traditional business model by
  • Eliminating intermediaries
  • Enhancing the two-way communication between
    company and customer

5
THE WORLD IS YOUR MARKET
  • Only 2.5 of world population is online
  • Enormous potential in Europe
  • Must pay attention to cultural differences
  • Even greater potential in Asia and South America
  • Will take longer to realize gains here because
    nations are less developed in general

6
FORMS OF INTERNET MARKETING
  • EMAIL
  • NEWSLETTER AND DISCUSSION LISTS
  • ADVERTISING
  • RETAILING

7
FORMS OF INTERNET MARKETING - EMAIL
  • UNTARGETED EMAIL MARKETING
  • Send email to long lists of addresses regardless
    of whether recipients are interested in message
  • TARGETED EMAIL MARKETING
  • Recipients are qualified - they express interest
    in receiving messages on your topic before you
    send the email

8
FORMS OF INTERNET MARKETING - NEWSLETTERS
  • NEWSLETTERS (ezines)
  • focused on a topic
  • generate ad revenue
  • free to recipient
  • DISCUSSION LISTS
  • allow dialogue between all recipients of list
  • exchange of ideas
  • ability to soft-sell products

9
FORMS OF INTERNET MARKETING - ADVERTISING
  • Growing faster than any other media
  • Expected to reach 7.4 billion in 2000
  • Three main types
  • Banner Ads
  • 56 of Web Ad dollars
  • Sponsored Web sites
  • 30 of Web Ad dollars
  • Interstitial Ads
  • 5 of Web Ad dollars
  • (balance of dollars on miscellaneous advertising)

10
FORMS OF INTERNET MARKETING - RETAILING
  • 1999 revenues of 10 to 15 billion
  • High-growth sector (112 estimated for year 2000)
  • Advantages
  • convenience of24 / 7 shopping year round
  • home delivery
  • mass customization means more personalized sites
  • Disadvantages
  • cannot evaluate physical products before purchase
  • no human contact

11
INTERNET DEMOGRAPHICS AND TRENDS
  • THREE FACTORS INFLUENCE ONLINE BUYING BEHAVIOR
  • 1. Attitude toward technology
  • 2. Income
  • 3. Motivation to use the technology
  • ACCORDINGLY, CONSUMERS CLASSIFIED THREE WAYS
  • 1. Early adopters
  • 2. Mainstream
  • 3. Laggards

12
INTERNET MARKETING DEMOGRAPHICS
  • CONSUMERS CLASSIFIED THREE WAYS
  • 1.Early adopters
  • 2. Mainstream
  • 3.Laggards
  • embrace technology
  • income to purchase when introduced
  • waits to acquire technology because
  • too expensive
  • reticent to use
  • pessimistic about technology
  • low income

13
MARKETING RESEARCH ON THE WEB
  • SECONDARY DATA
  • Electronic versions of popular business
    publications
  • Suppliers of MR data at no cost
  • Suppliers of MR data for a fee
  • PRIMARY DATA
  • Email surveys
  • Web surveys
  • Cyber focus groups
  • real-time data collection
  • graphical, interactive meeting
  • greater geographic distribution of participants

14
TARGETED INTERNET MARKETING
  • Conventional media PUSH marketing messages at
    consumer
  • Consumers PULL Internet marketing messages to
    themselves

15
BRANDING ON THE WEB
Amazon.com eToys.com Priceline.com
  • For an established brand, need to present unified
    message with Internet marketing
  • Internet marketing can strengthen product
    branding
  • A companys site can be its brand

16
FORMS OF VIRTUAL BUSINESS
  • CONSUMER-ORIENTED
  • COMPANY- ORIENTED
  • Increased product information
  • 24/7 site accessibility
  • at home delivery
  • Develops tighter relatioships with suppliers and
    clients
  • Increases sharing of business information

17
CREATING AN INTERNET MARKETING PLAN
  • 1. Purpose / goal
  • 2. Target audience
  • 3. Marketing mix
  • 4. Integrated marketing strategy
  • 5. Resources
  • 6. Evaluation

18
CREATING AN INTERNET MARKETING PLAN - THE GOAL
  • Before setting the goal, decided how the Internet
    can be used by your organization
  • 1. Increase/enhance company exposure
  • 2. Improve customer service
  • 3. Provide new products / services
  • 4. Add value to existing products / services
  • 5. Lower overall costs for the company
  • 6. Create one-to-one relationships with customers
  • 7. Others

19
CREATING AN INTERNET MARKETING PLAN - DEFINING
THE TARGET
  • IMPLICATIONS OF PULL STRATEGY -
  • Companies must identify the interests of their
    audience which will compel people to seek out the
    organizations Web site

20
CREATING AN INTERNET MARKETING PLAN - THE
MARKETING MIX
  • Product Promotion
  • Determine Consider
  • suitability push vs. pull
  • of item for strategies
  • Internet sale
  • Place Price
  • No fixed Greater price
  • location pressure
  • but no direct contact with customer

21
CREATING AN INTERNET MARKETING PLAN - INTEGRATING
CONVENTIONAL AND INTERNET
  • 1. Use Internet to AUGMENT current strategies,
    not to REPLACE them
  • evaluate the role of the Internet in the
    marketing strategy
  • combine Internet with other media and channels to
    give greater coverage
  • 2. Use IMC - message should be clear and
    consistent across all venues

22
CREATING AN INTERNET MARKETING PLAN -
ESTABLISHING THE BUDGET
  • FACTORS AFFECTING THE BUDGET
  • Prior experience in developing running Internet
    marketing program
  • Degree of program sophistication
  • Availability of internal resources (money
    personnel for development and maintenance)
  • Magnitude of the program
  • Dynamics of the program




23
EVALUATING THE OUTCOMES
  • QUANTITATIVELY
  • Number of hits
  • QUALITATIVELY
  • Registry of visitors
  • Clickstream

Apply knowledge to less successful pages of site
24
TRENDS THAT WILL IMPACT INTERNET MARKETING
  • VIRTUAL PRODUCTS
  • ORGANIZATIONAL STRUCTURE
  • VIRTUAL COMMUNITIES
  • GLOBALISM

The Internet will continue to affect the
conventional ways business is conducted
25
TRENDS - ATOMS VERSUS BITS
  • Redistribution of revenue
  • Silent winners -UPS, FedEX, USPS
  • Increasing development of non-physical products

From brick-and-mortar operations

Online operations
26
TRENDS - AGILE ORGANIZATION
TECHNIQUES FOR SUCCESS
  • Cultivate acute paranoia
  • Foster creative and strategic thought

Create team-based organizations
  • Create an agile organization

Flexible, responsive, creative
27
TRENDS - VIRTUAL COMMUNITY
  • More people participating in virtual communities
  • people feel more comfortable making purchases and
    conducting business in the security of the
    community
  • Business-oriented Internet communities are
    increasing in number
  • information seekers
  • bring together prospects, buyers, and sellers
  • target specific business interests

28
TRENDS - GLOBAL VILLAGE
  • ISSUES AFFECTING GLOBAL INTERNET MARKETING
  • technology number of language
    culture
  • users barriers
  • For Internet marketing programs to be successful
    in the future, firms must carefully consider
    these issues
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