Transcript Principles of Marketing - Learning Management System

Principles of
Marketing
Lecture-42
Summary
of
Lecture-41
Global Marketing
Global
Marketplace
Looking at the global marketing
environment
Deciding whether to go
international
Deciding which markets to
enter
Deciding how to enter the
market
Deciding on the global
marketing program
Deciding on the global
marketing organization
Think Globally
Act Locally
Today’s Topics
e-Marketing
Internet
Marketing
The Birth of the
Internet
• Internet was used for the first time
in 1982.
• It began to expand in 1991 with the
World Wide Web.
• Internet technologies pose
managerial implications to
business.
• Students must learn how
technology affects business
operations.
Major Forces Shaping the
Digital Age
• Digitalization and Connectivity
– The flow of digital information
requires connectivity
• Intranets, Extranets, and the
Internet
• The Internet Explosion
– Key driver of the “new
economy”
• New Types of Intermediaries
–Brick-and-mortar firms often
face disintermediation from
click-only competitors
–The click-and-mortar business
model has been highly
successful
The Role of the
Internet in Marketing
• The fastest growing
communications
technology.
• Within the first five years, 50
million people were
connected.
• Capable of interactively
sharing information in real
New Tool to Reach
Consumer
Internet
Telephone
Radio
Postal Service
Television
The Internet Presence
Engage in interactive, personalized communications
E-mail
Web Sites
On-line
Banner Ads
Virtual storefronts and inventory systems
Reduces
Inventory
Lower storage
costs
Easy access to
delivery info
Internet Demographics and
Trends
Attitude toward technology
Factors
Influencing
On-Line
Buying
Behaviour
Income
Motivation to use
Technology
Electronic Commerce
retailer / manufacturer
Financial Institution
internet
consumer
Definitions
• E- Commerce
• E-Marketing
• E-Business
E-Commerce
The process of conducting
business transactions
over electronic networks,
mostly the Internet
E-Marketing
The process of utilizing
Information Technology in the
conception, distribution,
promotion, and pricing of goods,
services, and ideas to create
exchanges that satisfy individual
and organizational objectives
E-Business
The use of Information
Technology in all business
tasks including production,
marketing, accounting, finance,
and human resources
management
• Marketing:
– Use of 4 “P’s” to meet customer’s
needs
• E-Marketing:
– Supply Chain Management
– Use of technology to increase
efficiency of marketing
– Increases company profitability and
adds customer value
Rules of
E-Marketing
1. Power Shift from sellers to buyers
2. Increasing Velocity
3. Death of Distance
4. Global reach
5. Time compression
6. Knowledge management is
key
7. Market deconstruction
8. Intellectual capital rules
Buyer Benefits of E-Commerce
• Convenience
• Easy and private
• Greater product
access/selection
• Access to comparative
information
• Interactive and immediate
Seller Benefits of E-Commerce:
• Relationship building
• Reduced costs
• Increased speed and
efficiency
• Flexibility
• Global access, global reach
E-mail marketing
• Key tool for B2B and B2C
marketing
• Clutter is a problem
• Enriched forms of e-mail
attempt to break through clutter
Basic Forms of Virtual Business
Business-to-Consumer
(B2C)
Basic Forms
of
Electronic
Commerce
Business-to-Business
(B2B)
The Virtual Community
Bulletin Boards
Types of
Virtual
Communities
Chat Rooms
Newsletters
Discussion Lists
Internet’s Influence on
The Global Village
Broadens and enhances access
in developing nations
Allows businesses to “leapfrog”
into development
Levels playing field for
disadvantaged countries
Key Success Factor for
Internet Businesses
Strategies for Web Success
4. Distribute the goods
3. Set the Price
2. Define the Product
1. Offer Customer Driven
Products
Decision Variables of the
Marketing Mix
Organizations moving away
from standardized,
mass distributed products
Customer Service and
Relationship building
Decision
Variables
Using technology to provide
consumers with
“virtual” trial products
Pricing Strategies
Internet Marketing
Objectives
Sales Level
Internet
Marketing
Objectives
Image
Brand Awareness
On-Line Promotion
Banner Advertisements
Button Advertisements
Interstitial Advertisements
Untargeted E-Mail Marketing
Targeted E-Mail Marketing
The Digital World
Speed
Global
Marketing
Implications
Value
Catch for Pakistani
Business
• Use it as a Tool to do Business
• Increase your Customers Base
• Increase your Efficiency and
Effectiveness
• Cost Effective
• Time Saving
• Open New Venue
• Be the Part of Global Economy
Enough for
today. . .
Summary
e-Marketing
The Birth of the
Internet
The Role of the
Internet in Marketing
Definitions
• E- Commerce
• E-Marketing
• E-Business
Rules of
E-Marketing
Basic Forms of Virtual Business
Business-to-Consumer
(B2C)
Basic Forms
of
Electronic
Commerce
Business-to-Business
(B2B)
Decision Variables of the
Marketing Mix
Catch for Pakistani
Business
Next….
Marketing and
Society
Principles of
Marketing
Lecture-42