MKTG306 – E-MARKETING WEEK 1 E-Business : - business with a deployment of digital technology to grow the business. (Aim to grow business, grow market cost saving) E-Commerce
: - Subset of e-businesses. Element of buying & selling (trading) that is done electronically.
E-Marketing : - expanding your customer base through the internet (beyond geographic boundary & travel/resistance boundary) : - use of information technology for the marketing activity, and the process for creating, communicating, delivering & exchanging (Revenue, profit, trust, + WOM, brand reputation) offerings that have value for customers/clients/partners & society at large. Therefore, E-marketing is the result of information technology applied to traditional marketing.
Overall Approach of this unit.
E-business = faster, quickly & more efficient as we have more access to information STRATEGY & THE INTERNET
The internet is no more than a tool – albeit a powerful one – that can support or damage your firm’s strategic positioning (double edged sword) Internet does not render established rule about strategy obsolete Create new industries, reconfigure existing one o eBay o Distance learning
Should traditional methods or the internet be used? Not compete BUT integrate. Key question: How should I? Social Strategy Development P – People
: assess your customers social activities
O – Objective : decide what you want to accomplish S – Strategy
: plan for how relationships with customers will change
T – Technology : decide which social technologies to use WHAT FUNDAMENTAL CHANGES HAS THE INTERNET BROUGHT TO MARKETING? -
Faster, cheaper, more personalized interactions Reduces customer search costs Personalized Seamless communication over any distances = consumer searches a lot more Everywhere, anytime 24/7! = expectation of instantaneous response o Losing control of our brand Transforms a predominately one-way broadcast model