marketing_in_ecommerce

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Published on January 8, 2009

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E-Commerce Certificate Program PresentationCore Marketing Strategies: Interfaces with Electronic CommercebyDr. Bert RosenbloomProfessor of Marketing andRauth Chair in Electronic Commerce : E-Commerce Certificate Program PresentationCore Marketing Strategies: Interfaces with Electronic CommercebyDr. Bert RosenbloomProfessor of Marketing andRauth Chair in Electronic Commerce Slide 2: Marketing as an organized business discipline has existed for over eight decades. The principles and core marketing concepts of modern marketing management have emerged over the past 50 years. The Crucial Question Will E-commerce require the “repeal” of these core marketing concepts and strategies as we begin the 21st century? The Marketing Concept and E-CommerceSince the 1950s this has been the philosophical underpinning for all of modern marketing management : The Marketing Concept and E-CommerceSince the 1950s this has been the philosophical underpinning for all of modern marketing management Customer focus External orientation Profitable sales volume Does the marketing concept need to change in the world of E-commerce? E-commerce culture and its followers say: Yes Legacy, “land-based,” conventional, “old economy” followers say: No The Marketing Mix and E-Commerce : The Marketing Mix and E-Commerce Marketing strategy boils down to a balanced blending of product, price, promotion, and placement strategies (the four Ps) so as to meet the needs of customers better than the competition Is the marketing mix model still relevant in the world of E-commerce? In the world of E-commerce, maybe it’s the fourth P, placement strategy that dominates the marketing mix. Why? Because E-commerce is really all about the channels through which products are sold. Target Marketing and E-CommerceDoes it still make sense for firms to identify, focus on, and develop, particular customer groups--- target markets given the vast reach provided by the Internet to mass markets?Are the dimensions for analyzing target markets still: : Target Marketing and E-CommerceDoes it still make sense for firms to identify, focus on, and develop, particular customer groups--- target markets given the vast reach provided by the Internet to mass markets?Are the dimensions for analyzing target markets still: Market size Market location Market density Market heterogeneity Market behavior 1) when the market buys 2) where the market buys 3) how the market buys 4) who does the buying Market Segmentation and E-CommerceIs the process of taking large heterogeneous markets and breaking them into smaller more homogeneous sub-markets (market segmentation) enhanced or inhibited by E-commerce technology? : Market Segmentation and E-CommerceIs the process of taking large heterogeneous markets and breaking them into smaller more homogeneous sub-markets (market segmentation) enhanced or inhibited by E-commerce technology? Are these requirements for segmenting markets still valid? Identity Accessibility Responsiveness Significance Are the bases for segmenting markets still the same? Demographics Psychographics Benefits sought Usage rates Loyalty E-Commerce and Marketing’s Quest for Sustainable Competitive Advantage : E-Commerce and Marketing’s Quest for Sustainable Competitive Advantage Sustainable Competitive Advantage: A competitive advantage that cannot be quickly and easily copied by competitors Question Is the concept of a sustainable competitive advantage realistic for marketers to pursue in the extraordinarily fast-paced, and brutally competitive E-commerce arena? Relationship Marketing and E-CommerceRelationship Marketing: the development and maintenance of long-term,cost-effective relationships with customers in order to retain their preference. : Relationship Marketing and E-CommerceRelationship Marketing: the development and maintenance of long-term,cost-effective relationships with customers in order to retain their preference. Standard Marketing Tools for Budding Relationships Affinity programs Frequent-buyer/user programs Database mining Partnerships (strategic alliances) Co-marketing and co-branding Lifetime value of customer analysis Question Can all of this be done at “arms length” via the Internet? Adopter Categorization of the Basis of Relative Time of Adoption of Innovations : Adopter Categorization of the Basis of Relative Time of Adoption of Innovations 34% Early majority 2.5% Innovators Time of adoption of innovations Early adopters 13.5% 34% Late majority 16% Laggards Buyer Behavior Models and E-CommerceDo conventional models of consumer and organizational buyer behavior apply to E-commerce? : Buyer Behavior Models and E-CommerceDo conventional models of consumer and organizational buyer behavior apply to E-commerce? B2C: Consumer Buying Process 1. Problem Recognition 2. Information Search 3. Alternative Evaluation 4. Purchase 5. Post-purchase Experience B2B: Organizational Buying Process 1. Problem Recognition 2. General Description of Need 3. Detailed Description of Product Specification 4. Supplier Search 5. Acquisition and Analysis of Proposals 6. Supplier Selection 7. Selection of an Order Route 8. Performance Review Product Differentiation Strategy and E-Commerce : Product Differentiation Strategy and E-Commerce Is the creation of distinctions among products so that customers will seek out and pay more for certain products (product differentiation strategy) still feasible in the world of E-commerce? Does the near perfect information provided by the Internet make product differentiation more difficult to achieve? Will E-commerce eventually spell the end of product differentiation as a viable marketing strategy as the Internet “commoditizes” virtually all products? Positioning Strategy and E-Commerce : Positioning Strategy and E-Commerce “Positioning is not what you do to the product, but what you do to the mind.” from The New Positioning by Jack Trout Can a product or organization be successfully positioned in customers’ minds as being more desirable than the competition given the power of E-commerce to “level the playing field?” Coke vs. Pepsi Mercedes vs. BMW or Lexus Charles Schwab vs. E Trade vs. Merrill Lynch Amazon v.s Barnes & Noble Is the battle for the customer’s mind in positioning strategy really only about information? Product Life Cycle and E-Commerce : Product Life Cycle and E-Commerce Stage I: Introduction Stage II: Growth Stage III: Maturity Stage IV: Saturation Stage V: Decline Do product life cycles exist in E-commerce? Will product life cycles be shorter, longer or unchanged by the effects of E-commerce? Do product life cycles need to be managed differently because of E-commerce? Does E-commerce provide the capabilities to reinvigorate the PLC? Product Branding Strategy and E-Commerce : Product Branding Strategy and E-Commerce Stages in brand building: 1. Brand awareness 2. Brand acceptability 3. Brand preference 4. Brand loyalty 5. Brand equity Questions Have these concepts changed in the world of E-commerce? Are they any less important? Does E-commerce make it easier to move through the stages? Will E-commerce undermine brand building? Price Sensitivity and E-CommercePricing strategy in marketing has traditionally focused on reducing price sensitivity by: : Price Sensitivity and E-CommercePricing strategy in marketing has traditionally focused on reducing price sensitivity by: Distinctiveness (product differentiation and positioning) Quality Making comparisons difficult Undermining the substitution effect Exploiting the income effect With the awesome power of the Internet to provide near perfect information are such pricing strategies still available? Specialized Pricing Strategies and E-CommerceThe following specialized pricing strategies have become an integral part of modern marketing practice: : Specialized Pricing Strategies and E-CommerceThe following specialized pricing strategies have become an integral part of modern marketing practice: Price lining Leader pricing Psychological pricing Price point pricing One price pricing Private brand pricing Prestige pricing Discounts and allowances Geographical pricing Will these pricing strategies be affected by E-Commerce? Classic Marketing Channel Strategies and E-Commerce : Classic Marketing Channel Strategies and E-Commerce Dual Distribution Exclusive Dealing Full-line Forcing Price Discrimination Price Maintenance Refusal to Deal Resale Restrictions Tying Agreements Are these conventional channel strategies applicable to E-commerce channels? Promotional Strategy and E-Commerce : Promotional Strategy and E-Commerce RECEIVER Decoding Media Encoding SENDER Response Message Noise Feedback Does this model still apply for E-commerce? Promotion Models and E-CommerceAre these still relevant for E-commerce? : Promotion Models and E-CommerceAre these still relevant for E-commerce? Communi- cations Model d Stages AIDA Model a Innovation- Adoption Model c Hierarchy-of- Effects Model b Cognitive stage Affective stage Behavior stage Attention Interest Desire Action Awareness Knowledge Liking Preference Conviction Purchase Awareness Interest Evaluation Trial Adoption Exposure Reception Cognitive response Attitude Intention Behavior Pull vs. Push Promotion and E-Commerce : Pull vs. Push Promotion and E-Commerce Producer End users End users Interme- diaries Interme- diaries Producer Marketing activities Demand Demand Demand Push Strategy Pull Strategy Marketing activities Demand Still a valid dichotomy? E-Commerce and the Five M’s of Advertising : E-Commerce and the Five M’s of Advertising Still applicable for E-commerce? E-Commerce and the Selling Process(Will this have a role?) : E-Commerce and the Selling Process(Will this have a role?) Prospecting and qualifying Preapproach Approach Presentation and demonstration Overcoming objections Closing Follow-up and maintenance

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