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What is Internet Marketing?
Internet marketing is the marketing of products/services on the internet (so selling them on a website). It helps business to deliver their strategies. The consumer is the one who can choose to visit the website. The marketing message is delivered on one-to-one basics.
How does Internet Marketing integrate with the 4 P’s and / or the 7 P’s?
Products: you put all your product on the website and try to sell it to your target group.
Price: the organisation will choose a pricing method. You have to do a lot of research before pricing, because the customer can get easily to price comparing with other organisations.
Place: the place will be build a website and put your products on and start selling
promotion: this is an important part in internet marketing, because it is also about how to promote your product. They have to make sure to attracts customer attention ad makes them buy the product, that can through providing more colours of a products or advertise more. Also special offers are great way.
People: this can be the customer service, who will respond to customers questions or companies.
Processes: delivery dates, how customer services responsive to customer questions and how quickly they answer, but also how long does it take to answer the questions and do something with customers complain or recommendations.
Physical evidence: the look you give to your website and this will be printed in customers head. Also the service you deliver to them.
Price: the organisation will choose a pricing method. You have to do a lot of research before pricing, because the customer can get easily to price comparing with other organisations.
Place: the place will be build a website and put your products on and start selling
promotion: this is an important part in internet marketing, because it is also about how to promote your product. They have to make sure to attracts customer attention ad makes them buy the product, that can through providing more colours of a products or advertise more. Also special offers are great way.
People: this can be the customer service, who will respond to customers questions or companies.
Processes: delivery dates, how customer services responsive to customer questions and how quickly they answer, but also how long does it take to answer the questions and do something with customers complain or recommendations.
Physical evidence: the look you give to your website and this will be printed in customers head. Also the service you deliver to them.
Does Internet Marketing contribute to or highlight the need for effective identification of new product / market development opportunities?
Internet marketing is so important for marketing new products and promotes it. There are a lot of ways to do that and it is also easy, because of the possibilities we have nowadays with internet marketing. Through the possibilities of the Data Mining, because you as a business will get a lot of needed information about you customers and also if there is a market for your products all those contributes in highlighting a product. In addition to that advertising on other website is also contributing highlighting a product. Through setting up a website you will be able to put videos, pictures and make the page more personalized to your customers, also you can put a lot of information. Also you can put linked items to you products. Or make special colors and see if there is a market for this. Also through advertising products on other website and putting forum on their on website where customer can react and give their opinion about products.
Also through the use of social network like Hyves, Twitter and Facebook business can show off their new products/services. The offered products/services can be seen by everyone who has account. They put videos or picture of their products, when click on it then you will be transferred to their website.
How does Internet Marketing help towards the achievement of Business objectives?
First of all the objectives should be measurable, achieveable, realistic and time-related (SMART). Secondly Internet marketing allows business to know what their customers needs is. Also it helps them to know ways of improvements and producing methods, and developments. Besides that also helps them to know their weaknesses and strengths.
Does Internet Marketing enable more effective targeting and segmentation? Can you describe some examples?
Internet marketing does enable more effective targeting and segmentations, because through marketing research you can identify the needs of the customers.
Segmentation is you divide a group within the overall market that has the same characteristics.
The different varieties of segmentations are:
Demographicà is to know how many internet customer they will be.
For example: it won’t be so clever if you will market your website in Africa, because the most countries there are so poor, that they don’t have enough money to eat. For sure then they won’t have access to the internet.
For example: it won’t be so clever if you will market your website in Africa, because the most countries there are so poor, that they don’t have enough money to eat. For sure then they won’t have access to the internet.
Psychographicàuses lifestyle and personal characteristics as a way of segmentations.
For example: young people use MSN, Blackberry messenger and whatsApp when they use the internet. Other group: old people who uses internet just to do researches or read books.
For example: young people use MSN, Blackberry messenger and whatsApp when they use the internet. Other group: old people who uses internet just to do researches or read books.
Economicà is to know where in which country to sell you products. It is not clever to sell products in third world countries, because they are so poor, that they wont be able to buy your products.
Usage-basedà this allows website owners to see how the internet is being used in different part of the world. From this data you can know to which country you need to focus selling your products.
For example: if you go on www.clickz.com then you will get all the information about internet users in a certain country. Even you get the gender of the most internet users.
For example: if you go on www.clickz.com then you will get all the information about internet users in a certain country. Even you get the gender of the most internet users.
What is ‘disintermediation’ and does it help producers? Explain how.
Disintermediation is the opposite of intermediate. Disintermediation means to remove the middle men in the process of goods between original manufacture and consumer. So you remove the unneeded intermediates, because some products can be shipped directly to customers.
As an example I will take E-Bay.com. This is an internet business. They sell all kind of products online and they don’t have any store.
For the process of products been shipped directly to customer from the website, there is no need for an intermediate. Because there’s no need for a store where the goods have to be sold in and that the customer will go there and buy it. No in the case of disintermediation the goods will be shipped directly to the consumer.
The disintermediation is used often on selling goods online.
It does help the producers, because it will safe them time and money.
The benefits of internet marketing to business.
It has a lot of benefits for organisations and some of them are hiding, but below I will outline some benefits:
Ø Tax breaksà you write are a lot of costs off, especially when your business is based at home.
Ø Low start-up costsàa simple website will costs a few hundred Euros, but when you start up a business that will cost more.
Ø High profit marginàyour costs will be low, so you will keep more money.
Ø Market for little or no moneyàsometimes you can put you advertisements on other website and they do the same on your website (all for free). Also you can submit free ads. In addition to that you can also e-mail you offers to people for free.
Ø You keep all the money you labour produces.
Ø Your business is then opens 24/7 all over the world.
Ø Time freedom, you decide when to work and when to build your website as a business.
Ø Easy customer’s data collection
Ø It is easy to get competitors analysis.
Ø Costs reductions
Ø You can make a webpage personalised to the customer
Ø You will be able to let you customers customise their own products.
Ø You can offer detailed information about your products/service and providing it with pictures.
Ø You can sell online/offlineàbe a clicks and mortal business.
Sources:
BTEC Business Book
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