Term paper “Internet marketing saves time and cost” Nowadays because of technological changes it becomes very easy for every marketer to market the product or business through internet. The growth of Internet technology has enormous potential as it reduces the costs of product and service delivery and extends geographical boundaries in bringing buyers and sellers together. The Internet provides opportunities for an organization to enhance its business in a cost-effective and practical manner.
It became easy to do marketing research, reach markets serve customers better, distribute products faster, solve customer problems, and communicate more efficiently with business partners. It saves the time and cost as well that could be the cost of market research, advertising, reaching the customers etc. E-commerce also creates value for customers in many ways. Customers are considered as a market of one. They can access a greater variety of products, often at lower prices.
Using the internet and related technologies to complete significant marketing activities is known as e-marketing or electronic marketing. The ways that some marketing activities are performed have changed as businesses have turned to e-commerce. Customers are like lifeblood of an organization. They are also considered as a KING of the market because a customer decides whether he is going to buy anything from you or anybody else that anybody could be your business rival as well. It is your duty to satisfy your customer and let him stick with you forever.
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And will convince their family and friends too to be your customer if they are satisfied with your product and services. Mostly online customers are innovators or risk takers who do not hesitate to try new and unique products and check the services of different organizations. If a business person want to sell products online it should turn its marketing efforts towards the early adopters. Internet marketing also has greater impact on marketing mix especially on promotion of the products. There is a broad range of products marketed on the Internet that range from consumable goods to durable goods.
Services marketed on the Internet also range from online newspapers to business-wide consultation. In digital services business-support services are the activities that support businesses in developing and delivering digital products and services. Business-support services include web design, web site hosting. Consumer services are the activities that support consumer access to and use of internet resources and digital information. New and innovative products are now developed because of the change in technology. The demands of the customers are also increasing because of it.
It became easy for marketer to set price online and earn more profit because it reduces the cost of the advertising and marketing like billboards, newspapers and TV ads etc. Businesses use a promotional mix to reach their objectives. A promotional mix includes advertising, personal selling, sales promotions, and hypermedia. Today, most e-commerce promotional campaigns require a combination of traditional methods. Each element of the promotional mix has strengths for reaching specific communication goals. Promotional placement in a medium is known as advertising.
The internet is the fastest-growing advertising Medium. Telemarketing and direct mail were attempts to personalize advertisement in order to make it more effective. These direct marketing approaches worked fairly well but were expensive and slow and seldom truly one-to-one interactive. The Internet introduces the concept of interactive marketing, which has enabled advertisers to interact directly with customers. Banner ads act like placement ads in print media. To catch a viewer's eye, banner ads are now using animation, java programming, and multimedia.
Banner ads are useful in creating awareness of products and in communicating information about them. Distribution is an important part of any marketing transaction. Many businesses aim to gain competitive advantage by using E-Systems to de-layer the distribution chain. For example, Dell supplies customers directly, rather than through distributors, wholesalers or retailers. It is cheap but risky if u fail to deliver on time you can lose a valuable customer. It is significant for managers to understand what value is, how it is created and how it could be added.
The internet provides many opportunities for companies to increase economic utility and, therefore, customer satisfaction. As time is money, through internet marketing there is no need to WAIT, for a revised version, updating is quick, automatic, and prompt as required. Adding more pages to a document online involves virtually no expense compared to the additional cost. One can provide more information to the customers. One can reach more customers than ever before and it does not cost a penny more. Internet marketing allows the customers to research and purchase products and services at their wn leisure. Through internet marketing the marketer access to valuable information which determines which messages and offerings are more important and effective with the consumer. This method equates to faster results because online marketing intiaties usually requires the user to click on an ad, visit a website, and or perform a target action. Internet marketing is a smooth and hassle-free media of promotion, advertisement. It saves time and is cost effective than the traditional marketing style. Millions of homebuyers hit the internet for information.
Internet homebuyers make better clients. References: Scott F. Geld (2003) Marketing is whatever you do to promote and grow your business including market research, advertising, publicity, sales, merchandising and distribution. Internet marketing uses the sources of online business networks and interactive media to reach marketing objectives…no paper, no telephone, no call, no in person appearances. Electro versions of catalogs, brochures, white papers, data sheets etc don’t have to print, store or shipped to your customer. A question arises?
What about the manpower/lady power cost? You no longer require as many people to handle mailing and distribution of your marketing collateral more savings! Wrent Nest (2010) If one takes the advantage of the web for promoting and advertising purposes, businesses not just reach their target viewers but they can track the achievements of a campaign since the figures and success rates of the campaign is really an easy task to trace. This provides the businesses with strong statistics on whether or not their marketing strategies are profitable or if they want enhancement.
Julie Rotter (www. jrotter. biz) In addition to the huge audience of an excellent prospective client, the internet offers both convenience and cost effectiveness than that traditional media; websites are more engaging and informative than even the best brochures. Emails make it easier and cheaper to keep in touch with existing clients. One does not need to have a four or five-figure marketing budget to create a professional online presence. Julie Hume (2012) A website is like an expensive box of chocolates.
The outer carton may have a satin finish, the letters embossed in copper foil, the edges die-cut love hearts and the whole wrapped in a purple satin ribbon. Gorgeous! Who cares? Let me at the chocolate say that pretty box its job and enticed the browser to buy. How happy will be the purchase if its contents are past the sell by date, the chocolates covered in mold and the sweet centre fermented and rotten. EEEW. she put hell emphasis on creating a website not only saves the time and cost but act as an influencer to make a purchase or experience it!
For examples Wikipedia and Craigslist now a good visual sites but still a center an attraction for gaining the information. Website link (www. urbanroute. com) Improve your Competitive Edge Expand Customer Base and target Audience Increase referrals and word of mouth Boost sales, repeat business and customer loyalty Save time and money by reducing marketing costs Build customer trust / Protect your customers privacy Rashad Yazdanifard1, Melissa Venpin2, Wan Fadzilah Wan Yusoff 3, Mohammad Rabiul Islam4([email protected] om) Internet marketing (IM) is also known as digital marketing, web marketing, online marketing, or e-marketing. As the name states, it is the advertising of products or services over the Internet. However, it also implies marketing through the wireless media and through e-mail. It helps us in creating good relationships with our customers and makes our life easy. Initially internet was used by fresh graduates and the bigger organizations for smooth working but now it became a trend to use internet and people that do not have internet at their home or offices are considered as backward.
Now being trendy means that you are using internet and finding solutions of your problems on it instead of going to a consultant personally. Because Internet grew in only five years and there are no barriers for time or location, marketing online has become the new era in E-commerce with petty variable cost per customer. Now internet is considered as the easy and somehow necessary tool of marketing for that reason website designers are hired who make the websites interesting and attractive for the customers.
A well designed Web site can lead to an interesting, low cost means for sales promotion to worldwide customers. Shopping on the Internet is convenient as there is no time restriction, it is comfortable since it is in a user friendly environment and there is also an instant satisfaction of ordering, paying and delivering. Enhancing brand image, creating awareness and providing customer service are more important than just selling the products or entertaining customers. David C.
Gilbert, Jan Powell-Perry and Santander Widijoso (1999), “Approaches by hotels to the use of the Internet as a relationship marketing tool”, Journal of Marketing Practice: Applied Marketing Science, Vol. 5 Internet marketing will become even more important in the future. As more companies will have access to the Internet, they will start doing business over the Internet. China’s economy will be in another dimension with E-commerce where customer focus, responsible business practices and innovation are the determinants of success and not customer relationship.
With a decrease in communication prices, more customers will shift to the Internet as well. Customers will look for a business on the Web since there are unique opportunities for marketing a company’s service, selling products and gathering information on the Net. The marketing mix plays an important role in IM in E-commerce; deciding what type of advertising best suit customers through the Web. This is the new era of innovation; where everyone will be interacting on the Web. Conclusion:
We’ve concluded from the articles of above mentioned authors that the Internet network is a marketing network use by advertisers, marketers, and society to find the right combination of marketing mix to best suit customer’s needs. It is important for a company of this era to have access to the Internet to be more successful. Internet marketing does not only target consumers, but also Internet advertisements client marketers from companies. Internet brings new issues that must be considered and may require a rethinking of the existing marketing mix. The internet allows companies to mass customize a wide range of products.
Internet makes pricing and competitor information faster and more transparent, meaning that market forces also tend to act faster and perhaps more efficiently. People do not have much time now to be spent on shopping so in this era of fast technology internet plays vital role because now people rely mostly on online shopping than going personally to the shops. For this companies hire web designers who make the websites attractive and innovative for the customers. The most effective online shopping appeal for consumers is not to “save time” but to do more or to get more done!
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