The Role Internet Marketing Has within a Modern Marketing Context - Coursework Example

Internet is a perfect platform for interconnecting with existing and potential customers with virtually no expenses. Internet marketing is “essentially everything that you do, both online and offline, to influence people to buy your product or service from an online medium such as a website” (Michie, 10). There are some principle benefits from internet marketing like the low cost involved and easy reach to customers across the world. With the help of internet marketing, sales can increase rapidly since millions of customers can make easy access to a company’s website and gain knowledge about its products and services. Email communication has become a popular mode of staying connected with customers. For customers, it is no longer necessary to rely on the telephone for getting information about a company as most companies have their own websites. Thus, with the help of internet marketing, it has become easier to achieve business objectives of enhanced sales and a huge customer base. Also, internet marketing makes more effective targeting and segmentation since it is possible to keep track of which products have the most demand. Moreover, with the internet, it is possible to address a specific group of customers with similar likes and dislikes. All these will help the company make products according to target customer demand. Market segmentation can be demographic, geographic, psychographic, and lifestyle. Demographic segmentation is based on age, social class, gender, and income. Geographic segmentation is based on regions where customers belong since customers from different countries or whether they are in towns or cities of the same country display different demands and purchasing capacity. Psychographic or lifestyle segmentation is based on customers’ personalities, opinions, and interests. Also, the 7ps (product, price, promotion, place, people, process, physical evidence) of the marketing mix is very important in internet marketing. Internet is a reliable tool for assessing the demand for a product.