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Internet Marketing

Internet Marketing. What Is Marketing?. An activity in which firms gather information about their customers To uncover present customer needs and anticipate future ones To use the information to develop strategies to satisfy these needs at a profit

hector-townsend
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Internet Marketing

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  1. Internet Marketing

  2. What Is Marketing? • An activity in which firms gather information about their customers • To uncover present customer needs and anticipate future ones • To use the information to develop strategies to satisfy these needs at a profit • It is the enterprise-wide generation of market intelligence pertaining to current and future customer needs • Success in marketing depends on the responsiveness of the firm to this information

  3. Marketing • Traditional marketing • Market segmentation • Direct marketing • Relationship marketing • One-to-one marketing

  4. Traditional Marketing • The traditional marketing model for mass media assumes a broadcast model • Communication with the marketplace is “one–to–many” • A firm transmits content through a medium to a large group of consumers • This content must be carefully homogenized • A key assumption of this models is that there is no direct interaction between consumers and firms • The communication is typically brief and one way

  5. Market Segmentation • Target marketing • A marketing technique that targets a group of customers with specific characteristics • Segmentation is the process of directing all marketing efforts at a particular group of potential customers( by Mississippi University State Extension Service) • For example, Rolex directs the marketing of its watches to upscale customers who are very brand conscious

  6. Consumer Purchase Decision Process • Prepurchase steps • Awareness of need for purchase • Identify basic need or want • Actual purchase • Establish decision criteria • Seek recommendations and information • Make purchase • Postpurchase steps • Assistance with installation or setup • Online help desks and instruction manuals

  7. EC Consumer Behavior Model • The purchasing decision process is triggered by a consumer’s reaction to stimuli • The process is then influenced by the buyer’s characteristics, the environment, the technology, the EC logistics and other factors

  8. Consumer Types • Individual consumers • Commands most of the media’s attention • Organizational buyers • Governments and public organizations • Private corporations • Resellers

  9. Purchasing types and experiences • 2 dimensions of shopping experiences • Utilitarian—to achieve a goal • Hedonic—because it’s fun • 3 categories of consumers • Impulsive buyers—purchase quickly • Patient buyers—make some comparisons first • Analytical buyers—do substantial research before buying

  10. Roles people play in decision-making • Initiator • Suggest/thinkof buying a particular product or service • Influencer • Advice/view carry weight in making a final buying decision • Decider • Make a buying decision or any part of it • Buyer • Make the actual purchase • User • Consumeor use a product or service

  11. Purchasing decision-makingModel • Need identification • Actual and desired states of need • Information search • Alternatives evaluation • Research reduces number of alternatives, may lead to negotiation • Purchase and delivery • Arrange payment, delivery, warranties, etc. • After-purchase evaluation • Customer service

  12. One-to-one Marketing • Relationship marketing • “Overt attempt of exchange partners to build a long term association, characterized by purposeful cooperation and mutual dependence on the development of social, as well as structural, bonds” • “Treat different customers differently” • No two customers are alike

  13. Essence of One-to-one Marketing • Customer loyalty • Customer trust in EC • Personalization • Customer relationship management

  14. Customer Loyalty • Customer loyalty • Degree to which customer stays with vendor or brand • Important element in consumer purchasing behavior • One of the most significant contributors to profitability • Increase profits • Strengthen market position • Become less sensitive to price competition • Increase cross-selling success • Save costs, etc.

  15. Customer Loyalty (Cont.) • Meeting customers cognitive needs—organize customer service to meet needs of each skill set • Novice • Intermediate • Expert • E-loyalty—customer’s loyalty to an e-tailer • Learn about customers’ needs • Interact with customers • Provide customer service

  16. Customer Trust in EC • Trust in EC • Deterrence-based trust—threat of punishment • Knowledge-based trust—grounded in knowledge about trading partners • Identification-based trust—empathy and common values between partners • Value of EC referrals • Word-of-mouth • Delivery of good or service sparks other users

  17. Personalization • Process of matching content, services, or products to individuals’ preferences • Alternative methods • Solicit information from users • Use cookies to observe online behavior • Use data or Web mining • Personalization applied through • Rule-based filtering • Content-based filtering • Constraint-based filtering • Learning-agent technology

  18. Personalization (cont.) • Collaborative filtering examples • Backfilp.com—recommends restaurants • C5solutions.com—personalized messages via cell phones • Mysimon.com—assists in purchase decision-making process based on user information • Legal and ethical issues • Privacy issues • Permission-based personalization tools

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