“Technology changes people.” (Wind & Mahajan, 2002, p. 44)
Modern human interactions on both social and business levels, are more frequently happening on a digital medium.
The world is becoming increasingly virtual rather than physical and with that a ‘digital revolution’ is occurring.
Many organizations have sought to take advantage of this transition in the form of interactions in order to gain a competitive and increase their business performances.
One such technology emerging from this digital revolution is electronic marketing (e-marketing).
To evaluate this rising technology, 3 relevant questions can be asked and can be subsequently answered via a review of literature related to the subject of e-marketing.
The following questions have relevance in analysing this emergence;
1) Does the adoption of e-marketing provide organizations with a competitive advantage?
2) What are the opportunities and threats associated with the adoption e-marketing?
3) Will e-marketing have a significant role in Business going forward?
An analysis of multiple academic papers will seek to address the relevant, stated questions in order to produce a clearer interpretation of the emergence of E-Marketing and its future potential roles in Business.
Does the adoption of e-marketing provide organizations with a competitive advantage?
Wu, Mahajan, and Balasubramanian (2003) conducted a study across the business sectors of telecommunications, computer hardware, semiconductors and manufacturing equipment to identify the effects of e-business and thus e-marketing adoption had on business performance.
The research judged ‘adoption of e-business’ to be based around the usage of e-business for: internal adm...
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...shifting from generating demand for stock in supply, to e-marketing acting as contact points for placing orders which will lead to the subsequent production to meet that specific order.
That order will also likely be unique, given that customer design of products or services will be a prominent feature in the future according to the literature of Sheth & Sharma (2005), Watson et al (2002) and Wind & Mahajan (2002).
As for identifying which are the firms that will succeed and achieve competitive advantage through the adoption of e-marketing, Day & Bens (2005) states that those businesses which are the most effective at successfully managing their relationships with customers are the entities which stand to benefit the most from e-marketing exposure.
These ‘relationship leaders’ have the expertise to lessen the threat of their long term customers switching suppliers.
How has the use of technology changed its interaction with its suppliers? Wholesalers? Other business partners?
Technology plays a big part of the e-retailing industry. It has many positive qualities that impact the industry. Technology simplifies the purchasing process. Since the industry is web based, it helps eliminate the nuisance of not having products when wanted by having the capabilities of placing orders 24/7 at any computer with web access. Technology will also standardize the purchasing process thus reducing processing costs associated with traditional processing.
In summary, “Internet activities are not most significant in competition, such as informing customers, processing transactions, and procuring inputs”. (Porter, 2001) significant corporate assets--skilled employees, proprietary product, and efficient logistical systems – these factors are the most important to keep competitive advantages. In fact, it is foreseeable that the Internet's evolution will come up in the future involve a shift “in thinking from e-business to business, from e-strategy to strategy”. (Porter, 2001)Only by integrating the Internet into overall strategy will this powerful new technology become an equally powerful force for competitive advantage.
People no longer hold conversations in person and instead prefer to socialize through technology and social media.
Chung-Shing Lee, (2001) "An analytical framework for evaluating e-commerce business models and strategies", Internet Research, Vol. 11 Iss: 4, pp.349 – 359
The objective of B2C ecommerce is solely keeping tabs on item deals. On the other hand, B2B emerged with a lot of advantages.
Li, F 2007, What is E-business ?: how the Internet transforms organizations, Blackwell Publishing, Oxford.
Many advertisers are spending time and money on online technologies. More marketers are advertising on internet and more companies are doing online business as well, so this is increasing the revenue of online media. Newspaper advertisement is declining because internet advertisement is facilitating both the marketers and the consumers. (Evans, David S. 2009)
Professor Jerome McCarthy introduced in the early 1960s a marketing mix which consists of the 4 Ps: product, price, place and promotion (Kotler, 1999, p. 94). Traditionally, efficient product, price, place and promotion strategies would lead to a successful business but in today’s society, due to such technological advancements, the internet is changing the way we sell our products and services, and therefore organisations now need online strategies to attract and retain customers. The e-marketing mix considers how the 4 Ps can be presented online in order to give that firm a competitive advantage through digital marketing (Learn Marketing, 2014).
Electronic Commerce as popularly as E-commerce has become a big deal in our growing economy due to the increase use of online systems. E-commerce now of the fastest growing business in the world. The technology has change the way of business. Business that have physical location have now made it an effort to focus their online business. It is the new sort of business platform where you can make use of different technologies like electronic data interchange or transfer document electronically. Online business is an effective of sales.
E-commerce is about two decades old, yet due to its fascinating dimensions, it remains a challenging area for researchers and professionals.
In this write up the focus is mainly on e-business. It consists of critical discussion and analysis of the impact of adopting e-business orientation. It also contains relevant information on the current state of e-business market.
The main topic for this Extended Essay is to analyze the effectiveness of company’s market strategy. A marketing strategy can be defined as a process that helps a business to optimize the opportunities in order to complete business objectives, which mainly gain profits. It includes all basic and long-term field activities of marketing that deal with the analyzing of initial strategy, evaluation of the strategy, and making of a new strategy if the initial strategy is found to be ineffective or even might cause loss. (Homburg, Kuester and Krohmer 2009) To make sure the effectiveness of marketing strategy, its crucial to establish the right marketing mix which cover all the element needed in marketing a product. (Clark, et al. 2009)
As Peter Duckers has put it, "The ultimate aim of all business organisation is - to create a customer". These days, for most products and services, the market belongs to the buyer. The customers e...
As we know, marketing is where a company set a goal or written a document on how to promote or introduce their products or services to users while e-commerce is one of the methods where a company sell and introduce their products and services to user. Here we can see how this both related to each other, marketing use e-commerce as one of the marketing method. In this microwave society, most of the consumers prefer to do something easy, take less time and less effort but they want something fast and perfect. So, now we have internet marketing and e-commerce and are widely used by most company whether it is big or small business for those kinds of consumers as this way is inexpensive way of promoting business and consumer can find the products or service they want on the line, and they also can directly pay for the service or product without troubling them self. Consumers can perform any transaction buy just sitting in front of their laptop any this service are available for 24/7. In internet-marketing, it involved numbers of business model such as B2C that means the product sell directly to customers, C2C where a customer sell the product to other customer and