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Internet marketing and communication
Internet marketing and communication
Internet marketing and communication
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How Internet Marketing Builds Upon Marketing Principles and Offers Customers Greater Freedom
Benefits to Customers
The increase of availability of so many products and services on the internet has introduced so many opportunities and benefits to customers
Opportunities to compare and select providers
The internet allows great deal of price transparency for consumers this gives the consumer to compare the price of each product on the internet prices are stored digitally in databases shopping bots or price search engines is used to search the best prices available on the web (www.kelkoo.co.uk) and (www.gocomparison.co.uk
The two screenshots show the prices of products and a button which says compare products the price of products are bold to stand out
M1
The benefits of internet marketing to customers is that customer do not physically have to visit a store to see which product is cheaper to purchase than another with internet marketing customers can easily compare prices and quality of a product with a click of a button
Internet marketing beats traditional marketing because the advantages are that consumers can easily sit back at home and click and the website just simulates the prices and shows a value of each product and which product is the best to purchase also they do not have ot visit a store and frequently ask questions to a member of staff about which product is cheaper and where a certain product is they can simply compare prices and choose which bproduct is best for them in the comfort of there home
The disadvantages of internet marketing is that prices of products change often online and when comparing the price of the two products may increase at a later stage
Increased Bargaining power
Instead of prices being set by organisations the internet is capable of turning this situation to the opposite side for example ebay.co.uk and letsbuyit.co.uk allows customers to set their own prices on their products in which they are selling consumers are to place bids for the product after viewing the minimum reserve price which is acceptable to the seller
M1
This benefits people as they can sell a product at their price which they think they can make a profit for and also consumers who are willing to make a bid for the product will know they can get this certain product for a cheap price then in a store
internet marketing beats traditional marketing because
Product differentiation: Some products are, or at least are seen as, commodities. Because there is little to choose between brands, price is the main competing factor.
However, people have a variety of choices online therefor it is a better idea that prices stay competitive. Lara Mode has a high profit margin on their product and the management agrees that to stay competitive they sometimes reduce their margins, which they can also do online if necessary to stay competitive. Another widely used pricing technique is reference pricing which shows customers what the price of the product was before and how much it is now so that they can make a comparison and evaluate how much money they are saving. This will help customers evaluate if they are paying an amount for something that is worth the product. Another example of reference pricing could be comparing the prices of competitor’s product to Lara Mode s product, however it is not widely used on the web shops of well known companies since it is unethical to discriminate a competitor’s price on a companies own
The threat of substitute products is high, which can limit the price charged for the product. Technology has aided to increase the threat of substitute products because more consumers are using the Internet to research prices, find sales and read reviews. If Under Armour can obtain a patent on all of its products, this will stop Nike and Adidas from completely copying their products. The bargaining power of buyers is high mainly because customers that focus on price have a lot of power. Buyers can force prices to go down or demand higher quality services or products, which may increase operating costs. There are no switching costs, which means customers have several options on which products to choose.
Competitions in retail industry have always been tough. Without the significant competitive advantage it is nearly impossible to survive in the market. The online shopping has increased the competition to maximum level. Some customer wants to fell and touch the product, so the visit the outlet and showroom and consumer with price as major factor believe that they can get goods cheaper online than in store. Online selling at deep discount is even making inroads into major consumer purchases such as
Get Useful Information about Online Marketing Strategies on Mindshark Marketing Reviews Internet is the most popular medium of advertisement since it offers a wide scope for using variety of marketing strategies to promote products and services. Mindshark marketing reviews will tell you how online advertising is different and profitable compared to conventional advertising methods. Right from a business owner to a professional or a home maker, everyone uses the internet check emails, to collect information, to play online games, to locate places, etc and when you use this medium to promote your products, you will be reaching to your target audience directly and personally to communicate what you got for them. How to Choose a Suitable Online Marketing Strategy?
As a large online retailer, the firm should not worry to charge a higher price to its certain customers. Otherwise, the customers should be happy as by just clicking a mouse or touching a screen, they have been able to shop and pay for their purchases without leaving the comfort of home. The firm could charge a low price to attract new customers, while extracting a higher price from loyal customers. As price discrimination increases, and price evaluation becomes easier, discriminated customers may choose to shop online elsewhere. But, price - changing online is not popular among shoppers. Some of them said it would bother them to find out that other people paid a lower price for the same
The price is the cost that a buyer pays for a particular item. Pricing is determined by a number of factors including market share, competition, material costs, product identity and the customer's perceived value of the product (Wikipedia, 2008). Pricing will vary due to demographics. Additionally, the product’s price will also be influenced by the competitive forces around the...
Internet advertising is at an all time high, and consumers are attracted to products that they can get more information on over the Internet. Also, "buzz" promotion can be created efficiently via Internet.
The Internet is the core of digital marketing. The Internet offers various ways to promote Products online, to market their product. Applications like the World Wide Web, email, RSS and the likes of video’s you would see on YouTube ads, these all can be used by marketers to their benefits and launch campaigns.
Based on these concerns, retailers in the international marketplace have their work cut out for them. But through proper education of consumers, and the ever-expanding growth of the infrastructure in many countries, the future seems to be leaning heavily towards using the Internet for many needs.
This might appear obvious to many shoppers. But I believe multitudes of people purchase items without ever considering what they buy could be found elsewhere for less money. Even I am guilty of assuming that Walmart has the best prices on everything. If I take a small amount of time to search for a specific coffee maker, I can find the large chain store 's prices such as Walmart, Target, Best Buy, and Sears, along with other smaller retailers. (In some cases smaller stores ' prices are lower.) Many stores price match, so if I prefer to shop at Walmart because I live close to one, I can have them match the competing retailers lower price. Also, many retailers provide free shipping on online orders totaling a certain amount. Therefore, if physically visiting the store with the lowest prices is not feasible, shoppers can order items online for no extra charge. However, ordering from brick-and-mortar stores—physically or online—is not always the best option. Websites such as Amazon and eBay have millions of items from multiple sellers. Sellers will compete with each other for the lowest price, often providing shoppers with a price lower than those of larger stores. Regardless of how and where you purchase your items, taking time to shop around is a wise
E-Marketing or electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms E-Marketing, Internet marketing and online marketing are frequently interchanged and can often be considered synonymous. Marketing consists of individual and organisational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion and pricing of goods, services and ideas. (Dibb, Simkin, Pride and Ferrell, 2001). E-Marketing encompasses all the activit...
The Internet is rapidly becoming widespread and widely used as a tool for globalization across the world. As the Internet became more easily accessible by most people in the world, the web is bringing significant implications and changes to the way we live, including the way we shop. There is a rapid growth with e-commerce and moving businesses onto the web and retail success is no longer about stores and shopping centers. In developed countries, about two thirds of the population have access to the Internet making the option of online shopping is easily accessible to most people (Valerio). With the ease of shopping in your own home there are many benefits of doing your shopping online. Consumers can easily compare prices online, there is a larger range of products on the web, you can save time by having your shopping delivered right to your doorstep and it also overcomes physical barriers. Over the last decade online shopping has challenged and replaced the traditional means of physically going into shops as the digital world has provided customers with further convenience, flexibility and comfort from shopping from your own home.
Online shopping has been growing since the put the first online store on the web, now you can shop from anywhere around the world and have it shipped to you directly. Comparing the product against other online store competitors; making it easier to find the best price on the web. You can research the product and make sure this what you need before buying it. The internet is twenty-four hour shopping center, you can shop at what ever time you and wherever you have time for it, making it more convenient to use online shopping. Using it can create more time for the things you would like to do.
Digital marketers must keep up-to-date with the consumers preference, trends and needs, in order to meet these needs and to be able to remain competitive in the market . The connectivity created by digital media leads to enhanced product benefits such as online games and applications (Pride & Ferell, 2014). However, the use of the internet to sell products could be a disadvantage to the business since the goods being sold are intangible, the consumer could research and find reviews describing a product as low quality which could result in sale losses (Brand Driven Digital, 2013).