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65 Cards in this Set
- Front
- Back
Past, Present, Future
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The internet is ... |
a global network of interconnected networks |
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There are three types of access to the internet: |
Public internet : Most internet use today
Intranet : network that runs internally in an organization (SharePoint, Google Drive, D2L)
Extranet : two or more joined networks that share information (Transactional - Airlines) |
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E-business |
is the optimization of a company’s business activities using digital technology |
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E-commerce |
is the subset of e-business focused on transactions |
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E-marketing |
is the result of information technology applied to traditional marketing. |
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Digital Marketing |
is becoming more common term |
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E-Marketing Is Bigger than the Web
The Web is.. |
the portion of the internet that supports a graphical user interface for hypertext navigation with a browser
- what most people think about when they think of the internet
- Electronic marketing reaches far beyond the Web.
- ** Extensive use for data sharing and transfer. |
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Individuals: |
The internet provides individual users convenient and continuous access to information, entertainment, networking, and shopping. |
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Communities |
form around shared photos (Flickr), videos (YouTube), individual or company profiles (Facebook), and interests (LinkedIn groups). |
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Businesses |
The digital environment enhances processes and activities for businesses. |
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Societies |
and economies are enhanced through more efficient markets, more jobs, information access, communication globalization, and more. |
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E-Marketing’s Past |
The internet started in 1969 as the ARPANET, a network for academic and military use -Web pages and browsers appeared in 1993 -The first generation of e-business was like a gold rush - Dot-Com Boom |
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E-Dorp |
Gartner predicted that the e would drop, making e-business just business and e-marketing just marketing
- Nevertheless, e-business will always have its unique models, concepts, and practices |
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The e-marketing landscape is changing rapidly |
due to consumer-generated content, mobile internet access, social media and disruptive technologies |
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Web 2.0 |
Web 2.0 technologies connect people with each other through social media
- Power shift from sellers to buyers. - Consumers trust each other more than companies. - Market and media fragmentation. |
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Other Opportunities And Challenges In Web 2.0 |
- Online sales current equal 6.6%+ of all retail sales -Improved online and offline strategy integration. -Decline of print media -Website and user experience improvements
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The Future: Web 3.0 |
Sir Tim Berners-Lee, coinventor of the World Wide Web, working on technology to organize online data for greater user convenience - semantic Web --- BUILT ON MEANING
The value of the semantic Web is information on demand
EX: Pinterest "Picked for you" content
Experts believe the semantic Web will become a reality over the next decade |
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chap 2 objectives |
Explain the importance of strategic planning, strategy, e-business strategy, and e-marketing strategy. – Identify the main e-business models at the activity, business process, and enterprise levels. – Discuss the use of performance metrics and the Balanced Scorecard to measure e-business and e- marketing performance. – Enumerate key performance metrics for social media communication. |
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The Amazon Story |
The Amazon Story • Founded in 1995 as an online retailer. –Did not become profitable until Q4 2001 Leveraged its competencies into different e-business models. Founder and CEO Jeff Bezos is not interested in expanding to the physical world.
–Core business is online retailing, “everything store.” –Established e-commerce partnerships. –Developer services provider. –Content provider. –Created the first affiliate program. –Recent Washington Post acquisition. |
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Strategic Planning |
The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing market opportunities |
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Process of Strategic Planning identifies firm’s goals for: |
–Growth –Competitive position –Geographic scope –Other objectives, such as industry, products, channels, etc. |
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ESP: Environment, Strategy, and Performance |
The ESP model illustrates the relationships among environment, strategy, and performance
A SWOT analysis of the business environment(E) leads to the development of strategy(S) and the measurement of performance (P) |
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Performance metrics |
... are designed to evaluate effectiveness and efficiency of e-business and e- marketing operations. |
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ESP model focuses on
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strategy and performance |
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Strategy is the means |
to achieve a goal |
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E-business strategy |
Deploys enterprise resources to reach performance objectives and create competitive advantage. |
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E-marketing strategy |
Capitalizes on information technology to reach defined objectives.
Database marketing, social media, digital data |
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An e-business model is |
... a method by which the organization sustains itself in the long term using information technology -which includes its value proposition for partners and customers as well as its revenue streams. |
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Strategic Plan Rationale |
Must explain why specific objectives and strategies are chosen
-Can it be justified by the following: •Financial - ROI •Operational - Capacity, staff and ability •Strategic - Fit with mission, vision, values •Technical - Expertise to implement? |
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Components of Business Model Selection Process |
Customer value Scope Price Revenue sources Connected activities Implementation Capabilities Sustainability |
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Activity-Level E-Business Models |
1. Online purchasing 2. Order processing 3. 4. Content publishing 5. Business intelligence (BI) 6. Online advertising and public relations (PR) 7. Online sales promotions 8. Pricing strategies 9. Social media communication 10. Search marketing |
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Customer relationship management (CRM) |
managing the bridge between consumer and company |
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Freemium |
a pricing strategy by which a product or service (typically a digital offering or application such as software, media, games or web services) is provided free of charge, but money (premium) is charged for proprietary features, functionality, or virtual goods. |
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E-commerce |
refers to online transactions: selling goods and services on the internet |
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Social commerce |
uses social media to facilitate online sales. |
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Direct distribution |
is when manufacturers sell directly to consumers. |
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Content sponsorship |
a form of e-commerce in which companies sell advertising on their Web |
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A portal |
is a point of entry to the internet that combines diverse content from many sources |
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Social network sites |
are those that bring users together to share interests and personal or professional profiles |
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Online brokers |
are intermediaries who assist in the purchase negotiations without actually representing either buyers or sellers. |
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Manufacturer’s agents |
represent more than one seller. |
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Purchasing agents |
represent buyers. |
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Pure plays |
..are businesses that began on the internet.
Pure plays face significant challenges. – They must compete as new brands. – They may need to take customers away from established businesses. |
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Performance metrics |
are specific measures designed to evaluate the effectiveness and efficiency of operations, online and offline
Provide measurable outcomes . – Must be easy to understand and use . – Must be actionable . – Can motivate employees to make decisions that lead to desired outcomes . |
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Web analytics |
the e-marketing term for the study of user behavior on Web pages |
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Metrics measure activities such as |
Click throughs from advertising. – Page views. – Number of comments posted on a blog. – Number of fans on a company Facebook page. – Conversions to sales. |
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Data for Web analytics are collected in several ways |
Website server logs – Cookie files – Page tags – Geolocation |
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The Balanced Scorecard |
provides a framework for understanding e-marketing metrics. |
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The Balanced Scorecard provides 4 perspectives. |
Customer perspective – Internal perspective – Learning and growth perspective – Financial perspective |
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The customer perspective |
The customer perspective scorecard includes ways to measure goals such as customer satisfaction, engagement and retention |
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The Internal perspective |
The Internal perspective includes ways to measure goals related to the quality of online services and measures for the entire supply chain . |
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The learning and growth perspective |
The learning and growth perspective scorecard includes human resources, product innovation and continuous improvement of marketing processes . |
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The financial perspective scorecard |
The financial perspective scorecard includes ways to measure financial goals such as sales, profits and return on investment (ROI) |
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Action & Innovation Metrics |
Action metrics – Click-through to an advertiser’s site. – Contact form completion or registration. – Event attendance. – Purchase. • Innovation metrics – Number of ideas shared. – Trend spotting. |
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Overview of Global E-Marketing Issues |
Users from other countries, speaking languages other than English, will dominate the Web.
-e-readiness profile significantly influences marketing strategy and tactics |
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Four countries represent the power and opportunity in emerging markets: |
Brazil, Russia, India and China (BRIC) |
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next group of emerging market economies includes |
Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa (CIVETS) |
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Market Similarity: |
Marketers often choose foreign markets that have characteristics similar to their home market for initial entry. |
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CAGE (culture, administration, geography, economic) |
framework helps e-marketers evaluate similarities and differences between markets |
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Diaspora Communities |
When people leave their home country they may become part of a diaspora community and want to maintain relationships with their homeland |
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Market convergence |
in which markets become more similar over time, can be expedited by the Web |
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Wireless internet Access: Mobile Phones |
In 2012, over half of the world’s population had at least one handset (4.3B users)
Challenges of wireless e-marketing: – Modification of content for small screens – Text entry using tiny keypads >> voice – Content development – Pricing and secure payments
mobile consumer behavior differs from desktop or laptop consumer behavior |
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“digital divide.” |
The division between those who have access to information and those who don’t is termed “digital divide.” |
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Social Networking |
82% of the world’s 1.2 billion online consumers reported using at least one social networking site when online |