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e Marketing

e Marketing

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Published by Nuwan Vithanage
E-Marketing
E-Marketing

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Published by: Nuwan Vithanage on Sep 27, 2010
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Welcome to the first of this article on e-marketing and online advertising. I will walk through thebasic of e-marketing and show you several practical tips to do effective marketing for your businessand brand web site on the World Wide Web.What is marketing?A commonly myth among most Sri Lankan is the idea that marketing is identical with selling .Theemerging trend of 
“Tele
-marketing
firms”
who try to sell their products to us with extensiveinfomercials on TV, and door to door sales peoples who identify themselves
as “Marketing
 Executive
are some of the reason for our peoples believe in this myth. Interestingly enough,management guru Peter Drucker says
The aim of marketing is to make selling
unnecessary”
Thisstatement by Peter Drucker is a clear identification that marketing is much wider subject area thanmerely selling product. If you do your marketing right the product will sell by itself. Objective of marketing is to making it is unnecessary for the company to put extra efforts to sell their product.Defining marketingDifferent professional bodies and institution in the field of marketing have defined the concept I themany different ways. I believe it should not be the objective of this series of articles to go into suchdefinitions technical of the subject. Instead, I will tell you my most favourite definition of marketingwitch I gathered from Philip Kotler.He defines marketing in one sentence to say,
“Marketing
ismanaging profitable customer relationship
“I
believe this is the most concise and most meaningfuldefinition of marketing. This definition captures the two extreme that the marketers have to balancein performing their job for the brand or the product there are representing .The two extremes are ;1)
 
Earning profit for the company2)
 
Building Customer relationshipIf your marketing activities achieve short-term profitability but loss valuable customers in the longterms as a result of making them dissatisfied with poor product quality and poor service then you
haven’t
achieved success in your marketing efforts. On the other hand if 
you’re
marketing activitiescreate ultra satisfied customer who are wing to buy from you for many more years, but not makingsizable profit for your company ;then again
you’re
in proposition .The job of the marketer thereforeis to strike balance between these two extremes.While it is understandable that profit can be achieved by measurable financial decision, the questionarise how do someone create lasting customer relationship in the process. The answer lies in theprocess of creating of creating customer value. Therefore, marketing is essentially a process of creating customer values and demanding a profit from the customer for delivering such a value. Forexample think of the amount
you’re
willing to pay more for a home visit doctors as compared topaying a visit doctor by yourself. The gap is usually very much greater than the cost of transportationto be incurred by either party (you or the doctor)
you’re
willing to pay for home visit doctor becauseyou find it convenient. Convenience is a
Customer
Value”
creates by the home visit doctor. You cannow think if many more similar examples such as, meter taxis, home delivered Pizza, low fat foodetc. In the each of these cases, the marketer is addressing a problem faced by the customer, whichis not covered by a competitor offer. The customer is willing to pay a price higher than the cost of producing it, because customer sees
“Value”
in processing the product as a solution for the problem
 
they face. Therefore to put in a simple from we can say marketing is essentially is a customer valuecreation process.A look at how e-marketing differ from traditional marketing and why so many business arefocusing a lot of more time and spend on this dynamic from of marketing.What is eMarketing and how is it better than traditional Marketing?Marketing has pretty much been around forever in one or another. Since the day when humans firststarted trading whatever it was that they first traded, marketing was there. Marketing was thestories they used to convince other humans to trade. Humans have come long way since then (well,we like to think we have) and marketing has too.The method of marketing have changed and improved, and we
ve become a lot more efficient attelling our stories and getting our marketing messages out there. eMarketing is the product of themeeting between modern communication technologies and the age-old marketing principles thathumans have always applied.What is eMarketing?Very simply put eMarketing or electronic marketing refers to the application of marketing principlesand techniques via the World Wide Web with the aim of attracting new business, retaining currentbusiness and developing its brand identity.Why is it important?When implemented correctly, the return on investment (RIO) from eMarketing can far exceed thatof traditional marketing strategies.Whether you
re a
bricks and
mortar”
business or concern operating purely online, the internet is aforce that cannot be ignored. It can be a means to reach literally millions of peoples every day. It
s atthe forefront of a redefinition of way business interacts with their customers.The benefits of eMarketing over Traditional marketingReachThe nature of the internet means businesses now have truly global reach. While traditional mediacost limit this kind of reach to huge multinationals, eMarketing opens up new avenues for smallerbusinesses, on a much smaller budget, to access potential consumer from all over the world.ScopeInternet marketing allows the marketer to reach consumer in a wide range of ways and enablesthem to offer a wide range of products and services. eMarketing includes among other things,Information management public relations, customer service and sales. With the range of newtechnologies becoming available all the time this scope can only grow.
 
InteractivityWhereas traditional marketing is largely about getting a brand
s message out there, eMarketingfacilitates conversation between companies and consumers. With two ways Communication channelcompanies can feed off the response of their consumers making them more dynamic and adaptive.ImmediacyInternet marketing is able to, in ways never before imagined, provide and immediate impact.Imagine your reading your favourite magazine. You see a double page advert from some newproduct or service may be BMW latest luxury sedan or Appal latest iPod offering .With this kind of trading media, it
s not that easy to for you the consumer, to take the step from hearing about aproduct to actual acquisition.With eMarketing, it
s easy to make that step as simple as possible, meaning that within a fewshortcut clicks you cloud have booked a test drive or ordered the iPod .And all of this can happenregardless of normal office hours. Effectively internet marketing makes business hours 24 hours perday, 7 days per week for every week of the year.By closing the gap between providing information and eliciting a consumer reaction the consumer
sbuying cycle is speed up and advertising spend can go much further in creating immediate leads.Demographic and targetingGenerally speaking the demographic of the internet are marketers dream. Internet users consider asgroup, have grater baying power and could perhaps be considered as population group skewedtowards the middle
 –
classes.Baying power is not all though. The nature of the Internet is such that its user will tend to organizethemselves into far more focussed groupings. Savvy marketers who know where to can quite easilyfind access to the niche markets them wish to target.Marketing message is more effective when they are presented directly to the audience most like tobe interested. The Internet creates the perfect environment for niche marketing to target groups.Adaptively and closed loop marketingClosed loop Marketing requires the constant measurement and analysis of the results of marketinginitiatives. By continuously tracking the response and effeteness of campaign, the marketer can befar more dynamic in adapting to consumer s want and needs.With eMarketing, response can be analysed in real time and campaigns can be tweakedcontinuously. Combined with the immediacy of the internet as medium, this means that there isminimal advertising spend wasted on less then effective campaigns.Nuwan vithangeCSCT campus

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