Mba Marketing Mk Assignment

Mba Marketing Mk Assignment Words: 3732

Therefore you can sell your products through them if your Bessie is visible on these search engines. The principle techniques employed in SEEM are: e-MaIl Marketing: Marketing through e-mails Is e-mail marketing. Each penny which you use Is worthy If you use e-marketing effectively. It helps in acquiring new customers and enhancing the relationship with the existing ones. Banner Advertising: Placing your advertisement on any other third party website is called as Banner marketing. If any customer clicks on your banner the Ad will direct them towards your website.

Interactive Advertising: Interactive media applications can be used to promote online products. In Interactive advertising personalized message are sent to readers. With the help of online or offline interactive media it communicates with customers in order to promote products, brands, services and many more. The main aim is to sell products. Blob/ Article marketing: Blobs and articles can be used effectively to propagate a marketing campaign. Mans(B):- Differences between e-Marketing and Traditional marketing e-Marketing I Traditional marketing I No Immediate delivery of goods.

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I Immediate delivery of goods. I Helps promoting product globally. I Takes longer to promote globally. I Can work with fewer employees. I Needs more employees. I Can sell or buy product 24 X 7, round the year without employing any person. I That is not possible in traditional marketing. I Customer loyalty could suffer from high price. I Customer has the choice to choose according to the price. I Fast and economical In promoting products. I Expensive and slow In promoting products. I Paying an experienced Internet Marketing Company is very economical.

I Paying a well known advertising and Marketing company is very costly. I Plenty of brands will be displayed in case of lack of a particular product. I Lack of stock can change the decision of purchasing. Product will be delivered home. I Customer should go to shop for purchase. I make best business in local and international markets. Only in local markets. I SQ. Write a short notes on: A. Targeting strategies in e-marketing. Mans:- Targeting Strategies I Can make best business After reviewing many potential segments, e-marketers select the best segment for targeting.

For this selection, they review the market opportunity analysis, consider findings from SOOT analysis and decide on the best fit. Segments will be considered attractive if they are accessible through internet, sizable, growing and hold great refit potential. E-Marketing is specifically suited for two targeting strategies and in both, message structure plays a vital role: Niche marketing – involves selecting one target segment and developing one or more marketing mixes to meet that segment”s needs.

This strategy has several benefits, but can be risky because competitors are often drawn into lucrative markets and when market suddenly declines, company is left with all its eggs in one falling basket. Micro marketing – also known as individualized targeting, involves customizing all or part of the marketing mix to a small number of people. Taken to its extreme, it can be a target market of one person. Message Structure Initial promotional communication through internet was via traditional advertising – seeing a company website, seeing brand names and product information via banner advertising, and the like.

The WWW has enabled many new forms of communication through social networking in recent years. This has enabled e-marketers to make practical use of Marl marketing,” “buzz marketing,” “guerilla marketing,” and other forms of “word of mouth” marketing that rely on social networking. The adoption of new methods of communication – Namespace, Backbone, Youth, Opinions, personal logs and websites, online message boards, and such – have enabled marketers to reach new markets in ways that are very different from traditional advertising channels.

Differences among these MANS(B):-Different types of Positioning Strategies in e-marketing Let”s now see how Positioning strategies help to create a desired image for a company and its products in the minds of a chosen user segment. Positioning is the process of creating image, and a position is the resulting view of the firm or brand from the customer perspective. The concept is simple: to be successful, a many must not only differentiate itself and its products from all others, but also position itself among its competitors in the public”s mind to carve out its own market niche. How differentiation helps in positioning?

Differentiation is the process of adding meaningful and valued differences to distinguish the product from competition. The keys to differentiating online businesses are the creation of a distinctive and superior customer experience and the development of one-to-one relationships with consumers. The real value added by Internet is its ability to differentiate according to customer relationships and roved a unique experience for each customer. Differentiated online offerings are based on lower costs in acquiring and retaining online customers like for example, 0 Airlines offering lower cost flights for online bookings. Financial services companies offering higher interest rates on savings products, lower interest rates on credit products such as credit cards and loans. 0 Mobile phone network providers or utilities offering lower cost tariffs or discounts for customers” accounts that are managed online without paper billing. In business terms, to differentiate means to create a benefit that customers perceive s being of greater value to them than what they can get elsewhere. It’s not enough for us to be different a potential customer has to take note of the difference and must feel that the difference somehow fits their need better.

Differentiation virtually means Competitive Advantage, Unique Selling Proposition or Value Proposition. When companies think it is inappropriate for selling their product online such as high-value or complex products then these companies can use online to add value to the brand through value added services or providing customer care and the like. Let us now see the eight Differentiation Dimensions: 1. Price Differentiation: Differentiating on price is most common and easily understood method. However, one has to be cautious while using this strategy.

Potential customers might expect a lower price because they perceive e-marketing firm as having less overhead or no reliability. Cheaper prices can evoke perceptions of lower quality, a less-stable business, and lack of trust so on. 2. Focus Differentiation: Focus differentiation is easier to achieve as it creates automatic advantage over other companies because of expertise in one field and companies can build close relationships with key customers that will be hard to duplicate. SQ. Discuss how to build up e-marketing strategy and its functions in brief.

Mans:- Build up e-Marketing Strategy “A marketing strategy is essentially a pattern or plan that integrates your organization’s major goals, policies, and action sequences in a cohesive whole to achieve customer success. ” e-Marketing Strategy An e-marketing Strategy is generally based upon the principles that rule the traditional, offline Marketing – that is- 4 Up’s (Product – Price – Promotion – Positioning) that form classic marketing mix. If you add 3 Up’s more to the existing four (People – Processes – Proof) you get the extended marketing mix.

The marketing mix is built around the theory of “transaction. ” These are explained by the exchange of paradigm. The series of particular functions brings uniqueness to e-marketing. These can be synthesized in the UP + C+ AS formula: personalization, privacy, customer service, community, site, security, sales promotion. These seven functions form the base for e-marketing strategy: Personalization Identifying the customer and their needs are the fundamental concepts of to know the right customer. Even more challenging is to collect their details in order to know the market.

This will be helpful to develop customized and personalized reduces and services. For example, with the help of a cookie that is placed on the customer”s computer one can know the access speed. In result, if you come to know that the speed is low, you can offer a low volume variation of your website. This website will include fewer graphic and no multimedia or flash applications. With this the customer will not leave the page by complaining that it takes too long to load. Privacy Privacy and personalization are inter-connected.

A few important issues arise while gathering information regarding the customers and potential customers. Some issues related to information like who will utilities the information and in which way are to be considered. Producing and enhancing a policy upon access procedures to the gathered data is an important task to do while implementing an e-marketing strategy. As long as information is gathered regarding individuals, it is mandatory for the marketers to take care of all privacy issues. Privacy is essential when establishing an e-marketing mix.

There are many legal aspects to be considered related to gathering information and utilizing it. Customer Service In a transactional scenario, customer service plays an important role. In business transactions, customer service processes are linked to the inclusion of the “time” parameter. E-Marketing is based mainly on the rational perspective while switching from a situational perspective to a relational one. Any marketer will be interested to find support and assistance on a non-temporal level and permanent over time.

Mans(B):- Function The function is a pictorial representation of an organization”s function within its scope. It can also be called as an activity model or a process model. Depending on the activities of e-marketing, the following are the different e-functional models. B (Business-to-Business) This involves 2 different companies doing business with each other. Prices of goods are generally flexible and based on quantity ordered. For example, distributors buy from manufacturers and retailers buy from distributors.

BBC (Business-to- Consumer) This involves transactions between the marketer and the customer. The general public is the customer who uses shopping cart software to buy products online. Examples for such activities are: With the help of online marketing a customer can perform the following activities – searching forsook, booking tickets for a trip and eying a computer in a click without interacting with any human beings. CB (Consumer-to-Business) A customer”s project is announced online with a certain budget. Companies examine the customer”s demands within few hours and call for the project.

After the companies review, the customer also reviews the bids. Example for such sites is Lance. It helps the customers by providing a meeting place for similar transactions. ICC (Consumer-to- Consumer) Many sites provide classifieds, auctions and forums for free. Individuals can purchase and sell from these sites. Online money transactions are an example for These models are based their functional integration, degree of innovation, applicability and feasibility in either or all BIB, BBC, BAG, CB, ICC markets.

A list of currently most adopted e-business models include: e-Shops E-shopping is the process consumers go through to purchase products or services over the Internet. An online shop, e-shop, e-store, Internet shop, web shop, online store, or virtual store evokes the physical analogy of buying products or services at a bricks-and-mortar retailer or in a shopping mall. The example of an online catalog is also used, by analogy with mail order catalogs. All types of stores have retail web ties, including those that do and do not also have physical storefronts and paper catalogs. -Procurement Electronic Procurement is either the business-to-business or Business-to-consumer purchase and sale of supplies and services through the Internet as well as other information and networking systems, such as electronic data interchange (DE’) and Enterprise Resource Planning (ERP). An important part of many BIB sites, e- procurement is also sometimes referred to by other terms, such as supplier exchange. Typically, e-procurement Web sites allow qualified and registered users to look for buyers or sellers of goods and services.

Depending on the approach, buyers or sellers may specify costs or invite bids. Transactions can be initiated and completed. SQ. Describe the four main functions involved in creating and unincorporated website. Mans:- Creating and Managing a Website Let us study the four main functions of Web site designs and these are: Planning the site Designing the site Building the site Maintaining the information and structure Planning the Site A Website development and management plan should be created first, as the lack of a good plan will not serve the future of the Website well.

Resources (human and hardware) and skills Following are a few questions that can be asked while planning for a Website: Who will build and maintain the Website, and where will it be hosted? If any initial designs are expected to be contracted and built, is the maintenance also going to be in contract or done in-house? If it is done in house, then who will maintain it? If a staff member has the initiative to maintain the site, do they have sufficient time expected, but not essential. However, the staff members must have an enthusiasm to learn and keep up with continuous changes.

Holding a Meeting While creating a Website, including the people who are going to work on the project n the planning process is a very important function. If people participation is encouraged, they will take an active part in creating the Website. It should be considered that the person leading the team should have a broad vision. The lead should also know what resources are available and what are the planned goals and objectives, so that the team is eventually informed about the likely outcomes.

This person should also be willing to take decisions on particular issues and should have a complete knowledge of the following: Purpose of the site: What is the purpose of the Web site? The entire structure of the tit will depend on the answer to this. The content for the Web page should also be decided. An outline of the content must be Information structure and content: Once the purpose and details of the Website are clear, you must set out to create a structure for the Website.

Although you might have outsourced the project to an agency, you should be the one to create an outline of the structure and content, since you are the one who knows what you want your customers to see and read. SQ. Define e-marketing and its principles. Mans:- e-Marketing can be defined as ‘Achieving marketing objectives through use of electronic communications technology’. It can be described as an act of trying to achieve marketing objectives through electronic or digital means. It can also be called as Electronic Marketing. Internet is used for most e-Marketing campaigns, such as e- Newsletters and e-mails.

The marketing of products or services over the Internet can be called as I-marketing, web-marketing, online-marketing, search engine marketing (SEEM) or e-Marketing. History of e-Marketing We can trace back the history of e-marketing to 1990″s. It came in to use gradually while the internet became popular. The internet, being a great way to communicate tit the customers, gained popularity with the business world. Advertising to homes became more expensive than mailing out. It was significant that regular mail started losing its prominence due to e-mail by the end of 1995.

Online shopping has now become a trend and is considered to be very convenient for everyone in the society. It allows you to choose products Principles in e-Marketing Now, let us see the five important e-marketing principles: 1 . Dead-ends This principle tells that marketers should provide the customer a reason why they should come to you for purchase. E-Marketers should not be satisfied with building the website only. Setting up a website is like constructing a store at the dead-end of the street. The website should have relevant information, attractive graphics and convincing layouts.

But all these will not help if the website is not encouraging the customers to purchase. 2. Giving and Selling It is human tendency to expect something more than what they actually pay for. This principle highlights that fact that people while shopping online expect something extra. Hence the best principle for attracting the customers is to offer something free to them but try to sell something else. This process can be explained with an example in a few steps: Web marketing is based on only one critical thing that is “trust”. Trust, as many experts express, is the essential principle of web marketing.

Customers will not purchase anything from marketers if they don”t trust you. Similarly, marketers will have no business if they don”t trust the customers. There are number of ways to assure trust. Some of them are: Sell popular brands. Display privacy of the organization. Offer guarantees that can be fulfilled. In order to have more sales and good customer flow, marketers should have a quality based customer friendly system in place. 4. Push and Pull This principle pulls customers to the web sites with the help of the attractive content.

With the help of mails, information can also be pushed to the customer regularly. There are a number of ways to do this. One of the ways is by using opt-in programs like newsletters and updates about sales. It is always advised that marketing campaigns should have an active element since the websites are comparatively inactive. This will assist in attracting the customers towards the product and inspiring them to purchase what the marketers offer. 5. Niche Marketing In the web marketing industry, niche marketing has emerged as a very important art.

One important fact in online marketing for marketers is to know their niche. It is not sufficient only to know but they should be in a position to market directly to them. It is a recognized fact that to be successful, especially with an online business, you need to know your niche, and market directly to them. It is an added advantage for a small business if the niche is found. SQ. Write a short note on: A. Features of e-marketing B. Benefits of e-Marketing Mans(A):- Features of e-Mail Marketing Businesses of different types and sizes are adopting the e-mail marketing software.

These software help companies in computerizing the core marketing processes, reducing campaign related costs, increasing staff effectiveness and obtaining excellent overall marketing results. Here are some of the features of e-mail marketing: Automated List Management Flexible Email Formatting Options Campaign Personalization Response Tracking Bounce-Back, Subscription and Opt-out Logging e-mail marketing software eliminates data entry activities, making it easy for users to add new lists to the system, modify information about existing contacts, export lists to on exclusive characteristics.

This not only saves time and reduces errors, but also allows for more targeted and effective marketing programs. Flexible Email Formatting Options With e-mail formatting options, marketing professionals can create email communications in a variety of special formats, including text, HTML, multi-part MIME messages, and messages with attachments. Design templates can also be created and stored for a longer time for use in future campaigns. Campaign Personalization The range of personalization capabilities varies from one email marketing software package to another.

While most provide some basic personalization functionality, such as modified “To” and “From” fields, there are some more advanced solutions that can actually plug in custom messaging and content, such as images, body copy, and subject lines, based on specific contact qualities, such as title, geography, or area of interest. Response Tracking e-Mail marketing software provides complete tracking of key campaign performance metrics including open rates, click-through rates, and conversion rates.

In addition to this, many applications can provide superior intelligence that will tell marketing users not only who hit the “landing page”, but which other pages they browsed while hey were on the Web site, and how much time did they spend on each page. Bounce-Back, Subscription, and Opt-out Logging Many e-mail marketing software solutions automatically Jump back with errors in the contact database, so that marketing teams can be alerted for changes or mistakes in email addresses.

This will help them to keep their database correct and up-to-date at all times. Reporting and Analysis e-Mail marketing software helps marketing professionals to assess the success of their e-mail marketing initiatives at every stage, by providing pre-defined reports, ad hoc analysis, etc. Users can assess return on investments across a single campaign or a group of programs, track trends and patterns in response rates and easily identify the most and least successful e-mail marketing initiatives.

Integrating with CRM Since several e-mail marketing applications and campaign data can be dynamically matched with CRM solutions and customer service automation systems, the customer-facing staff in other departments can have access to very important campaign-related information Mans(B):- Benefits of e-Marketing Let”s now discuss the benefits of e-marketing: 4 www. Benefits to business: There are many benefits of e-marketing to customer business. A few of them are discussed below. Global reach – With the help of the internet, customers can access the website or online resources irrespective of their location.

Hence, e-marketing allows customers to access global markets in an economical way. Lower cost – An e- marketing campaign can reach the right customers at a very low cost, if planned effectively. It is cheaper when compared to traditional marketing. Internet marketing other media, people have to make a call, post a letter or go to a shop, but in e- marketing, it”s Just a click away from completing a purchase. Traceable, measurable results – e-mail marketing and banner advertising are easy ways to know how effective the campaign was.

Customer”s response is obtained in detail regarding your advertisements. With the help of 24- hours marketing, customers can drop in at any time even if your office is closed. Almost every aspect of the Internet marketing campaign can be traced, measured, and tested. Personalization – You can greet your customers at any time with offers, if your customer database is linked to your website. The more transactions happen, the more you can refine your customer profile and market effectively to them.

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