Lecture Principles of Marketing - Chapter 14: Marketing in the digital age

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In this chapter, you will learn: Discuss how the digital age is affecting both consumers and the marketers who serve them; explain how companies have responded to the Internet and other powerful new technologies with e-business strategies, and how these strategies have resulted in benefits to both buyers and sellers; describe the four major e-marketing domains;...

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Nội dung Text: Lecture Principles of Marketing - Chapter 14: Marketing in the digital age

Chapter Fourteen Marketing in the Digital Age
Roadmap: Previewing the Concepts 1. Discuss how the digital age is affecting both consumers and the marketers who serve them. 2. Explain how companies have responded to the Internet and other powerful new technologies with e-business strategies, and how these strategies have resulted in benefits to both buyers and sellers. 3. Describe the four major e-marketing domains. 4. Discuss how companies go about conducting e-marketing to profitably deliver more value to customers. 5. Overview the promise and challenges that e-commerce presents for the future. Copyright 2007, Prentice Hall, Inc. 14-2
Case Study Amazon.com – Online Pioneer Background Marketing Efforts  Began selling books; now  Customer-driven: strives to markets many other design the best customer merchandise lines. experience on the Web.  One of the best known  Personalized sign-on pages names on the Web. and recommendations,  Sales have been strong huge selection, good value, but firm did not turn a and convenience result in profit until 2003. strong buyer relationships.  Skeptics predict tougher  Will Amazon become the times in years to come. Wal-Mart of the Web?
Forces Shaping the Digital Age  Digitalization andConnectivity – Intranets • connect people within a company. – Extranets • connect a company with its suppliers, distributors, and outside partners. – Internet • connects users around the world.
Forces Shaping the Digital Age  Internet Explosion – Explosive worldwide growth forms the heart of the New Economy. – Increasing numbers of users worldwide, and broadband users in the U.S. – Greater numbers of consumers are accessing information on the Internet. – Companies must adopt Internet technology or risk being left behind.
Marketing Strategy in the Digital Age  Requires a new model for marketing strategy and practice.  Companies need to retain old skills and practices but add new competencies.
E-Business in the Digital Age  Involves the use of electronic platforms to conduct company business. – Web sites for selling and customer relations. – Intranets for within-company communication. – Extranets connecting with major suppliers and distributors.
E-Commerce in the Digital Age  More specific than e-business.  Involves buying and selling processes supported by electronic means, primarily the Internet.  Includes: – e-marketing – e-purchasing (e-procurement)
E-Marketing in the Digital Age  The marketing side of e-commerce.  Includes efforts to communicate about, promote, and sell products and services over the Internet.  E-purchasing is the buying side of e-commerce. – It consists of companies purchasing goods.
Benefits to Buyers  Convenience.  Buying is easy and private.  Provides greater product access and selection.  Provides access to comparative information.  Buying is interactive and immediate.
Benefits to Sellers  Powerful tool for building customer relationships.  Can reduce costs.  Can increase speed and efficiency.  Offers greater flexibility in offers and programs.  Is a truly global medium.
E-Marketing Domains  Business to consumer (B2C)  Business to business (B2B)  Consumer to consumer (C2C)  Consumer to business (C2B)
Business to Consumer (B2C)  The online selling of goods and services to final consumers. – Expected to generate $316 billion in 2010, or 13% of retail sales. – There is increasing diversity in buyers. • This provides increasing opportunities for targeting markets. – Is customer initiated and controlled, requiring new marketing approaches.
Business to Business (B2B)  B2B sales dwarf B2C sales: – B2B e-commerce was nearly $4 trillion in 2003. – Uses trading networks, auction & barter sites, spot exchanges, online product catalogs, and more.  Most major B2B marketers offer online product information, purchasing, and support.  Open trading exchanges: – huge specialty e-marketspaces to conduct transactions.  More private trading exchanges are being developed for B2B transactions.
Consumer to Consumer (C2C)  Occurs on the Web and includes a wide range of products and services. – Auction sites such as eBay offer marketplaces to buy or exchange goods. – Blogs and forums facilitate information interchanges. • Blog: online journals where people post thoughts on a narrowly defined topic. • Forums: discussion groups located on commercial online services.
Consumer to Business (C2B)  Consumers can search out sellers, view offers, initiate purchases, and give feedback. – Example: on priceline.com, one can bid for airline tickets, hotel rooms, etc., and decide whether to accept company offers.
Click-Only Companies  E-tailers  Search engines and portals  Shopping comparison sites  Internet service providers  Transaction sites  Content sites
Reasons for dot.com Failures  Poor research or planning.  Relied on spin and hype instead of marketing strategies.  Spent too heavily on brand identities.  Devoted too much effort to acquiring new customers instead of building loyalty.
Click-and-Mortar Companies  Established firms initially resisted adding Web sites because of channel conflict and cannibalization concerns.  Risk of online competition forced firms to become click-and-mortar companies. Most are now doing better than click-only companies because of: – Trusted brand names and more resources – Large customer bases – More knowledge and experience – Good relationships with suppliers – Can offer customers more options
Online Marketing  Creating a Web site  Placing ads and promotions online  Setting up and participating in Web communities  Using e-mail