E-Marketing Mid-Semester Exam

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marketing

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determining and meeting customer needs

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marketing

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building profitable customer relationships

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marketing

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creating value for customers

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marketing

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includes selling and advertising, and the marketing mix product, price, promotion, placement

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information technology

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anything that stores or transmits data in digital format (computers, internet, mobile phones, tablets)

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E-Marketing

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the use of IT in the process of creating, communicating and delivering value to customers, and for managing customer relationships in ways that benefit the organisation and its stakeholders

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book restrictions to traditional analog media

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distributed through publishers, subject to scrutiny, barriers to newcomers

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film restrictions to traditional analog media

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- very high cost
- studios prefer safe bets
- corporate controlled
- only in cinemas at certain times/places

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music restrictions to traditional analog media

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- mostly distributed by few labels controlled by small number of multinationals
- hard to break into business
- restricted to CDs

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TV restrictions to traditional analog media

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- video production relatively low cost
- access to broadcast rigidly controlled

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the state of being digital

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- all of its properties and info are stored in binary form (bits)
- everything on the internet is digital, and consumers are moving to digital environments
- falling cost of digital technology is one of the most powerful forces in modern economy

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digital info can be...

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- copied perfectly
- stored in various media
- easy changed/manipulated
- cheaper to create/store/transmit
- shared easily and quickly

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convergence

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previously separate technologies to share resources and to interact with each other

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example of convergence

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Internet became more visible in '94, with the availability of the web-browser Mosaic

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convergence - new ways of producing and distributing content

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- online banking services
- use of wireless devices for delivery of content
- voice recognition software for CRM

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unique aspects of the new business environment

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- common platform - Web 2.0
- global reach - new markets
- interactive
- virtual
- level playing field
- low cost = almost endless storage capacity

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Remember the internet is ______

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procedural

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marketer's role

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- implement ideas about sales, product development, placement and distribution, and promotions in the real world/online
- have input into company's website and online presence
- know technical limitations
- how websites are created and made more visible

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technical back end stuff that marketers should know

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- RSS feed
- site ost
- support for hosting
- site coding
- publishing software packages
- who maintains database
- bandwidth
- metrics

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CMS

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content management system

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what to ask about technology

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- what is the technologies functionality?
- will the technology be supported?
- will the technology be integrated?
- what is the users experience?
- will the content be updated?

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Really Simple Syndication (RSS) Feeds

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A file that enables you to share information

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Widgets Snippets of HTML code

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used to syndicate content...links rendered by code

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Content Management System (CMS)

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enables you to create, edit, and publish content

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Search Engine Optimization

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SEO

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Metadata

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- info about info
- helps search engines better categorise the content on the web

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metadata; information

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A web page's rank in a search engine is affected by how well the site's ____ actually matches the ____ contained in the body of the website

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traffic

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the amount of data sent and received by visitors to a website

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browser

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a software application for retrieving, presenting, and traversing information resources on the web

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infrastructure

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the physical hardware used to interconnect computers and users

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operating system

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a set of software that manages computer hardware resources and provides common services for computer programs

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navigation

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the way you find your way around the site

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information architecture

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the way content is aggregated or labelled to help people navigate

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cookies

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- AKA HTTP cookie, web cookie, or browser cookie
- small piece of data sent from a website and stored in a user's web browser while a user is browsing a website

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tag

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a keyword of term assigned to a piece of information like a digital image or computer file

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tag

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the form of metadata that helps describe an item and allows it to be found again by browsing or searching

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bookmarking

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to mark content for later retrieval

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open source

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philosophy that supports free distribution

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wiki

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a website which allows users to modify, add, or delete its content via a web browser using a specific markup language

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hyperlink

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the data that points to other data

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no longer relevant

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global reach distance is...

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value is...

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- subjective and based on broader values
- the perceived benefits of something

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value offering

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- a viable product that meets a customers needs and desires
- available to market through appropriate distribution outlets and choices
- priced affordably for target market
- positioned in a way that increases its desirability
- promoted in way that appeals to target market

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4 P's

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product, price, place, and promotion

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product

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a bundle of benefits that satisfies the needs of consumers (or organisations) and for which they are willing to exchange $ or likewise

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example of product unique to internet

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search engine

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attributes

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tangible/concrete features or properties of a product

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marketers must...

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take a tangible product benefit and turning it virtual

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product attributes online

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quality issues and specific attributes

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quality issues

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speed of results or usefulness of results in online searches

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specific attributes

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format, operating system requirements, file size, compatible with your software

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product labeling

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includes traditional features such as price, size, colour, but also...
- privacy policies/statements
- website terms of use statements
- security solutions
- trust/verification services

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stand-alone website; existing website

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shopping cart software can be used to create a ____ ____ or can be integrated within an ____ ____

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front end; backend

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shopping cart based websites have a ____ and a ____

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online shopping websites need...

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- people to support technology
- distribution channels

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pricing

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- amount of money charged for a product or service
- sum of all values (money, time, energy, and psychic cost) that buyers exchange for these products or services
- potentially the most 'digital of all marketing functions (easily rep. as simple data)

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value =

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benefits - costs

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buyer; seller; differing opinion

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meaning of price depends on the viewpoint of the ____ and the ____, as each party may have a ____ ____ as to what constitutes a fair price

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price may or may not include...

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- shipping
- tax/GST
- exchange rates
- cost of returns
- discounts and other seemingly hidden elements

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real costs online associated with...

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- buyers time
- training (to use IT)
- use of hardware/software/access costs
- risks in using technology (viruses, trojans, fraud, etc.)
- psychic costs - frustration, stress, etc. associated with use of IT

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1. for a fixed price (traditional)
2. dynamically updated - charging different customers different prices for the same product
3. are at an auction price: time based like Ebay

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online, goods are commonly available:

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price transparency

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allows both buyers and sellers to view all competitive prices

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True.

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True or false: IT has complicated pricing by making it easier to change prices and vary prices according to buyer behaviour.

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seller to buyer - buyers can more easily compare prices online, and use auctions

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Price transparency has brought about a change in power from ____ to ____

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internal and external

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the seller's view: two main factors that affect pricing levels

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internal factors

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SWOT, pricing objectives, marketing mix, costs to produce and market

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external factors

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the market structure and buyer's perspective, competition, market efficiency, government regulation

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internal factors that affect pricing

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1. distribution: each product must be shipped separately to its destination, the cost of which includes shipping, exchange rate, return costs, etc.
2. affiliate programs (marketing costs): affiliate sponsors reward referring websites commission on each reference that leads to a sale (leads to price inflation)

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internal factors that affect pricing

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3. website development and maintenance hosting, hardware maintenance, monthly internet costs, domain names, security)
4. customer acquisition costs

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customer acquisition costs

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the cost of acquiring new customers online is quite high...customers are not nearly as brand loyal as they are offline.

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internal factors that affect pricing

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5. order processing - self-service: customers fill out their own order forms.
- just-in-time inventory: do not hold inventory, just buy in response to customer orders

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internal factors that affect pricing

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6. overheads: no rent for retail space and reduced need for sales staff; warehouses can be located in areas with low rents, low wages, low taxes, and quick access to shipping hubs
7. customer service (cheaper online)

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internal factors that affect pricing

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8. printing and mailing
9. digital product distribution costs: distribution costs for digital products are extremely low via the internet channel (as compared to physical products)

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external factors that affect pricing

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1. high price elasticity/sensitivity
2. shopping agents
3. reverse auctions
4. competition between sellers
5. tax-free zones

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high price elasticity/sensitivity

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pricing is very elastic depending on what the marketplace is doing...it shifts in perception of values of a product

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shopping agents

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facilitate consumer searches for low prices by displaying the results in a comparative format

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reverse auctions

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allow buyers to name their price and have sellers try to match that price - usually drives prices down

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competition between sellers

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can be strong and is easily visible by buyers

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tax-free zones

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most online retailing takes place across state/country border - no sales tax, reduces total out-of-pocket expenditures

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placement or distribution

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considers how the product gets to the customer
- systems, warehousing, transport, fulfillment, shipping

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internal factors that affect pricing

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5. order processing - self-service: customers fill out their own order forms.
- just-in-time inventory: do not hold inventory, just buy in response to customer orders

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internal factors that affect pricing

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6. overheads: no rent for retail space and reduced need for sales staff; warehouses can be located in areas with low rents, low wages, low taxes, and quick access to shipping hubs
7. customer service (cheaper online)

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internal factors that affect pricing

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8. printing and mailing
9. digital product distribution costs: distribution costs for digital products are extremely low via the internet channel (as compared to physical products)

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external factors that affect pricing

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1. high price elasticity/sensitivity
2. shopping agents
3. reverse auctions
4. competition between sellers
5. tax-free zones

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high price elasticity/sensitivity

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pricing is very elastic depending on what the marketplace is doing...it shifts in perception of values of a product

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shopping agents

Back 86

facilitate consumer searches for low prices by displaying the results in a comparative format

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reverse auctions

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allow buyers to name their price and have sellers try to match that price - usually drives prices down

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competition between sellers

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can be strong and is easily visible by buyers

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tax-free zones

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most online retailing takes place across state/country border - no sales tax, reduces total out-of-pocket expenditures

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placement or distribution

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considers how the product gets to the customer
- systems, warehousing, transport, fulfillment, shipping

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direct to retailer

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If you don't want the expense of opening and running your own retail outlet to sell to your customers, then you might sell to existing retail outlets
- administration required is considerable

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direct to wholesaler, merchant or agent supplier

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- product may be sold under merchant or wholesale brand name
- reduced pressure of distribution
- less need for storage/warehousing
- more reliable cash flow
- no contact with customer, no brand

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direct supply/direct selling

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- retailing, door-to-door, mail order, online shopping cart
- direct contact with customer
- control over product range/price
- need storage facilities

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online distribution channels

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- email newsletters/catalogues
- websites (shopping carts)
- online shopping malls and marketplaces - direct sales
- links from affiliate sites

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website related issues

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- design
- usability
- credibility/trust
- traffic measurement

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to bring merchants and customers together

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aim of online shopping malls

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affiliate

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company that promotes a merchant typically through a commission-based arrangement either directly or through an affiliate network

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disintermediation

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new technologies would facilitate less complex info exchanges resulting the elimination of 'middle-men'
-online channels have implications for physical intermediaries

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encouraged; supply chain

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disintermediation is ______ by the Internet because it modifies the ____ ____ due to market transparency (Dell)