Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Developing marketing strategies&plans
Developing marketing strategies&plans
Design a customer driven marketing strategy
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Developing marketing strategies&plans
Shopping on-line is becoming more wide spread as customers turn to the World Wide Web for purchasing decisions. Being able to capture consumers’ attentions and win their sales means the difference between success and failure. Today’s market is competitive therefore an organization’s ability to determine its marketing strategies and being able to effectively deploy tactics.
E-commerce marketing is the business of attracting online shoppers to a company’s website and persuading them to buy the services or products online. Unlike brick and mortar marketing, e-commerce business cannot employee age-old tactics such as a relaxing ambiance or soft music to attract their customers. Without a e-commerce strategic marketing plan, an organizations
…show more content…
Product-based advertising focuses all its promotion on the products being sold. Customer based advertising focuses on a certain segment of the market which research or other information has determined will have the most interest in the product being offered. Often organizations will choose to use product-based advertising, customer based advertising, or a mix of both depending on the type of goods they are selling or their marketing philosophy. Product based marketing strategies are generally used by retail businesses that are in the market to sell a large selection of products to a multi segmented consumer market. Companies wanting to create relationships between the product and their customer mostly use customer-based marketing strategies. These businesses often sell high-end or specialized products to a targeted segment of …show more content…
One of the tactics that e-commerce businesses often used during step two of the marketing strategy is known as market segmentation. During market segmentation organizations identifies groups of similarly behaving and like-minded customers and determines what communication media will need to be utilized to carry their message. Thus allowing the business to create a web site that acknowledges each group of stakeholders and caters to each of their needs making the site more useful and accessible to each group. One market segment which companies should consider marketing to is Tweens. A term used to describe children that are between the ages of 6 and 12 years old. They share some characteristics of both teenagers and children, and because they are a particular pubertal and hormonal group they are more susceptible to media influences (Jimenez-Zarco, Gonzalez & Gonzalez, 2016). Not only are tweens potential customers of a product but also more importantly is their capacity to influence their parent’s decision-making process. For some products such as mobile devices, apps and services, tweens have become the desired
The company can improve its channel strategy to enhance its current performance in one way. The company’s website is too reliant in the physical stores. The website has photos of the physical store ostensibly to help customers to connect with it. This idea seems well founded. However, the target market for any company that operates an online shopping system is not local. It transcends geographical boundaries. The company needs to consider how it can make the online shopping experience authentic and complete for customers who may never visit any of its physical stores. A website makes a company a global player. In this regard, the company needs to expand its channel strategy to take into account an expanded potential market. This shift in strategy will increase the sales the company makes.
Tweens are just starting to use social media sites, as more and more of their friends are likely to do. Marketing on sites, like Facebook, will increase a company’s likelihood of capturing some of the tween business. Also, using advertising in magazines that the tweens read and the radio are other ways of gaining attention to this group. The message that you, as marketers, should be sending this group is that of being cool and fitting in with other members. Also, learning how to define yourself and your personality is another key message that marketers need to spread to the cohort group of
As might be expected, the millennial generations as a whole are passionate about the technological and communication advances in the past decade with the internet and social media. “A new Pew Internet Project report reveals that 93% of young adult’s ages 18‐29 are online” (Andrew January 14 to 27, 2010). This allows access for marketer’s access to the generation in a different way than previous generations.
Today's young people are generally unresponsive to traditional brand marketing messages. Teens spent $12 billion dollars last year according to a recent study of Teen Marketing Trends. Teens not only use their money on small purchases such as music, clothes and food but also have the power to influence high-end purchases of their parents. Every year younger teens are being marketed because that they are the future teenagers and brand loyalty is an important thing to many companies. If you can get an older child hooked on a product, they’ll generally love it for life. These younger age demographics are being marketed to because more and more kids have increasing spending power and authority over what is purchased in their household.
E-marketing is a fast growing and rapid platform for any form of business. EBay has been highly successful over recent years and this is a perfect example of an online business. The internal and external environments are constantly changing and in order to keep up with these changes, businesses and organisations must make relevant changes, and generate new strategies to keep up with contemporary developments in e-marketing and to also maintain their position in their market in comparison to their competitors.
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.
Shin, N. (2001). Strategies for Competitive Advantage in Electronic Commerce. Journal of Electronic Commerce Research, 2 (4), pp. 164-171.
Customer behavior can be defined as the process used by organizations, individuals and groups, to select, buy or use particular products or services to satisfy their needs and the impact it has on the society (Wikipedia, consumer behavior). Every product in the market is given a different value by an individual user based on the need it satisfies and also the level of the want. For example a person may put choosing a car as just for a means of transport from point A to point B but for another individual a car is not only used as a mode of transport but also as a means of his lifestyle. Many marketers use these difference of needs in consumers to create different marketing campaigns to attract consumers that use their products.
The future of economic competitiveness for most enterprises relies on entrance and active participation in the e-commerce market. An essential problem with e-commerce is that the controls and organization are different for each site. There is no standard way of building t...
A “tween” is a marketing term that is used to define the target market of preadolescent children between the ages of 7-12 or 8-13. (Insert citation) Tweens are usually influenced by teenage associations because they are looking forward to becoming a teenager. For example, some teenage associations would be the places they shop, the things they do, and the way they act. Studies show that there is a gap between brand preferences and awareness from ages 6 to 7.
Marketing is a vital component in the success of businesses. Smaller businesses rely on business advertising, expenses, knowing if the business is networking with the right people, or joining the best organisations which lead to success (EStartup business blog, 2010). Marketing concentrates on customers and what the customers want. Customers are the source of sales and profits. Many small businesses are faced with remarkable hardships due to not developing the right marketing plan (EStartup business blog, 2010). To help these businesses a more appropriate or better marketing plan needs to be designed. Small business internet marketing services can help businesses develop and thrive in a highly competitive market. For the highest quality internet marketing services, hiring an online marketing company to design a customized internet marketing campaign may be advantageous for some businesses (EStartup business blog and contributors, 2010). Identified will be the role that marketing plays in a successful business demonstrated by use of two examples, the importance of developing a marketing plan, and ethical and legal issues that surround marketing practices (EStartup business blog, 2010).
In today's competing world, many organizations are rethinking their strategies in terms of the online business and its capabilities and culture. Organizations are taking advantage of the widespread web to buy and sell goods from other companies and recently from individual customers. Exploiting these opportunities of convenience, availability and widespread reach of the web or Internet, many companies such as Amazon have benefited from the use of web successfully.
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
Online retail and shopping sales has been growing consistently every year, not just in the US but worldwide. Not only does online shopping give customers more convenience, more variety, and more discreetness but it also gives customers better prices. While it is quite true that Wal-Mart has product variety and cheap prices – things customers want – the physical stores do not really give the convenience and discreteness that online retail and shopping does.
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.