London School Business & Finance - Essay Example

London School Business & Finance Jose Massala I.D. Number M1009215 Hamdiya Makarim Internet Marketing Table of Contents Introduction 4 Learning Outcome 1 5 Task 1.1 Element of Internet Marketing 5 Internet Marketing 5 E-Marketing 5 Digital Marketing 6 E-Business 6 E-Commerce 6 Benefits of Internet Marketing 7 Micro and Macro Factors 7 Task 1.2 Evaluation of Internet Marketing Mix 7 Product 8 Promotion 9 Price 9 Place 10 Extended Marketing Mix 10 Task 1.3 Comparison between Various Internet Marketing Tool 10 Task 1.4 Interactive Order Processing 11 12 How to Buy & Selling on eBay 12 Learning Outcome 2 12 2.1. Business 12 2.2. Mechanics of Search Engine Marketing (SEM) 13 Off Page SEO Techniques 14 16 Task 2.2 E-mail marketing newsletter 17 Task 2.3 Best Practice to Maintain Online Public Relations 18 OPR Practises 18 Task 2.4 Role of digital media communities for business expansion 19 Improving Digital Marketing Communities 19 Learning Outcome 3 20 Task 3.1 Conduct Secondary Market Research 20 3.2. Questionnaire 22 3.3. E-CRM 22 3.3.1. Benefits 23 Learning Outcome 4 25 4.1. e-Marketing Plan 25 1. Introduction 25 2. Situational Analysis 25 3. Marketing Mix 27 4. Contingency Plan 29 5. Conclusion 29 4.2. PPC 29 References 32 Bibliography 36 Appendix 37 Introduction Internet Marketing refers to the technique used for trading using the online medium for buying as well as selling products and/or services. The process used for internet marketing refers to a clear sense of implementation that is followed for incorporating the overall marketing orientation using the electronic medium. In today’s world technological advancement are eminent and internet plays a greater role towards maintaining an effective as well as business framework. The concept of e-commerce application is a significant approach towards improving overall business framework using the electronic medium. However, internet marketing is an effort that helps to facilitate overall marketing concept by using different internet portals as well as various electronic medium. Global context that are associated with digital improvement is an identical objective that is evident within every marketing practices and assist in enlarging the value that is associated with the overall advertising technique that is provided using electronic media (Sheehan, 2010). In the current complex social domain, it is identifiable that the organisations that are trying to develop its competitive advantage need to maintain a string digital presence. In order to maintain the competitive advantage within the current complex business internet marketing has emerged to be a concept that helps in engaging overall business artillery using large web mediums. Learning Outcome 1 Task 1.1 Element of Internet Marketing Internet Marketing Internet marketing is identified to be a process of marketing as well promoting events that are conducted using the Web, email along with other mediums that helps in fulfilling the needs of internet marketing. Various elements including social media, website, blog, networking, and attractive public interfaces enhances the ability of the internet .Social media is identified to be having certain involvement to increase the overall business campaign virtually. Now a day’s people highly prefer to conduct online activities and sharing information with the use of digital media. Thus, the overall business campaign can be successfully implemented by forecasting the diverse needs through social media channels such as Facebook, Twitter, Google+ and LinkedIn (Epstein & Yuthas, n.d.). E-Marketing E-Marketing refers to the successful integration of business that helps in enhancing the ability of both the suppliers and buyers to trade the goods using the diverse needs of the social media for integrating the different approaches that are evident for increasing the effectiveness of the process of selling as well as buying. E-marketing acts as a sustainable process that acts as a medium enhancing the usage of digital medium for increasing the ability to develop their product within the market (Stokes, 2012). Digital Marketing Digital marketing refers to the integrated technical advancement that helps in increasing the effectiveness of the organisation to perform. The umbrella term enhances a better understanding digital marketing helps is a concept that helps in organizing entire marketing activities associated with digital business framework (Ryan & Jones, 2009; Shaw, 2006). E-Business The term E-Business simply refers as a process of conducting the entire business activities electronically. The business orientation that can easily be developed using internet and other electronic media enhances the effectiveness with the successful integration of different techniques that enhances the ability of the business to perform. The current fast moving economic development the overall process of electronic business comprised of three identical business frameworks they have been listed below as: Business to Business (B2B) Business to Consumer (B2C) Consumer to Consumer (C2C) E-Commerce E-Commerce refers as an overall trading process that could be enhanced by using computer networks. Moreover, E-Commerce is a global business architecture that helps to provide a wide business ground for extensive business growth as well as development (Epstein & Yuthas, n.d.). Benefits of Internet Marketing Internet marketing plays a greater role to increase the overall business efficiency. With the speedy lifestyle and changes in technologies, the need for promoting and enhancing the effectiveness towards performing has attained new genres. Internet marketing has become a compulsion for enhancing the effectiveness of the system and ability for enhancing the ability to perform within the global edge. Internet marketing has become one of the prime needs for developing the effectiveness of performance and increase the effectiveness of the system to enhance the ability to perform (Botha et. al., 2008). Micro and Macro Factors Overall effectiveness of a micro as well as macro factors helps in enhancing the advertising efficiency that are undertaken within an electronic organisation. For example, overall advertising strategy depends on various dependent as well as independent factors. Specifically Micro environmental factors including Supplier, Competitor as well as customers who are likely to increase the effectiveness associated with the process .On the other hand Macro factors including economic trends, government policies are identified to be enhancing complications among the business (Manzoor, 2010). Task 1.2 Evaluation of Internet Marketing Mix Marketing Mix has been prevalent within the different segments of the society and has been prominent in all forms of business as well as trading means. Online marketing, like other major trading domain have integrated marketing mix for enhancing the ability of the organisations that are trading in the internet market to develop the effectiveness within the market. Internet Marketing Mix The above stated diagram reflects on the 4P’s that are evident within the electronic market and helps in integrating the diverse approaches of internet marketing. Internet users are identified to be the main aspect that helps in ensuring successful promotional mix. Thus, overall internet marketing mix is easily evaluated by observing the consumer’s level of satisfaction that is identifiable for the price, product, place as well as promotion that are associated with various goods and services. Proper evaluation of a product as well as services can easily be observed with comparing the entire product specification that is available from internet medium. The details of the Marketing Mix have been provided in the following section: Product The core products that is identifiable for eBay is the online store that helps in supplying the different products from one supplier to the end buyers with the effective integration of the services. The company mainly sells services in the form of the core products that are being transacted by the company. The extended marketing product is identified to be the different products that help in supplying the products in terms of the fashion accessories, collectibles, coupons as well as other products. The extended products that are provided by the company majorly involves mass customization including the fact that the products that are produced in bulk are costs low. Since the products that are purchased in bulks, the consumers are identified to be provided with larger amount of products at a lower as well as cheaper rate. Promotion The company has been using diverse promotional technology such as the search engine optimization enhancing (SEO) that helps the user to locate the online service provider in a more efficient manner. With initiating SEO, consumers are able to locate the service provider in a more efficient manner and enhance the ability of the consumers to locate the service provider with ease. Furthermore, the company has been integrating strategies such as the initiating Pay Per Click (PPC) and other attributes that would be enhancing ability of the service provider to perform. Price The price of the products is identified to be pre-defined. The website provides for the different auctions and other opportunities that help in enhancing the marketability of the products and enhances the prominence of the market. The different deals such as coupons, discounts as well as other diversified process ranges has been enhancing the prominence within the global arena increasing the effectiveness of the service provider to perform within the global dimensions. Place The place where eBay has been trading is identified to be largely competitive as many online portal websites that are performing within the electronic mail system and is identified to be enhancing the prominence within the complex electronic market. The place is identified to be both seller as well as buyer controlled. This could be stated as the price of the products is often identified to be having a thrust from both ends. Extended Marketing Mix Since the market is mainly dealing in services, maintaining the extended service mix is of utmost importance. Thus, the company is successfully maintaining the physical evidences of the products in the form of pictures and is enhancing the effectiveness to perform. Correspondingly, the people are identified to be the people belonging from all the sectors and age groups who are availing the products with the use of the internet. Additionally, the process that is followed is identified to be increasing the effectiveness of the organisation to perform and increase the effectiveness of the organisation to sustain. Task 1.3 Comparison between Various Internet Marketing Tool The internet marketing concept has emerged to be one of the diverse approaches that are undertaken by the organisations is identified to be enhancing the prominence within the global edge. Commendably, there are certain tools that are evident within the domain of internet marketing that are enhancing the effectiveness to perform and increasing the transparency towards performances. The internet marketing tools involve email marketing, Search Engine Optimisation (SEO). Online marketing and advertising is identified to be the key tools that helps in enhancing the prominence of the business and have been initiating the effective growth of the process of internet marketing. Additionally, the strategies such as the Search Engine Mechanism (SEM) and identification of “Keyword” is also an essential tool that helps to provide certain premeasured key topic based on a frequent web uses and user’s demand. As a result, overall searching option would be possible to implement in a user-friendly manner. Task 1.4 Interactive Order Processing Interactive order processing is an important feature that helps in enhancing successful internet-marketing concepts. Overall transparency that is evident within the successful internet marketing is highly dependent on the attributes that ascertains safe as well as secure payment option ensuring correct flow in a sequential operational activity. Moreover, for ensuring effective business horizon the entire order processing is followed by adopting various activities. Interactive order processing helps in accessing the data and analyse the same to provide the consumers with effective needs. This could be noted fro, the stated facts that unlike the other order processing system the interactive order processing system helps in enhancing the ability of the sellers to meet with the diverse needs of the consumers. For example, the following diagram depicts the interactive order processing technique used by the buyers for completing the buying behaviour in case of shopping from different online sources (Gupta & Malik, 2005). How to Buy & Selling on eBay Source: (Harvard Computing Group, Inc., 2015) Learning Outcome 2 2.1. Business The business that has been selected is identified to be the steel furniture online. This business domain is noted to be enhancing the transparency that is associated with dealing the business. The demand for steel furniture is identified to be increasing over the years. Owing to its enormous longevity, the steel furniture is gaining popularity among the people located in the diverse global locations. On a larger note, it could be noted that by enhancing the prominence within the global arena the organisations are developing the online peripheral. Steel furniture online is one such dimensioning that has been prominent among the people who are demanding goods from the online dimension. 2.2. Mechanics of Search Engine Marketing (SEM) SEM is a process that helps in promoting the overall web orientation that is associated with particular business. As a part of Internet Marketing, it is essential for the business developer to realize the utilities that are associated with the search engine option, which provides a clear view about the overall business performances including its preferred level of service that is evident for providing this option. In today’s free rating, web revolution user highly prefers access to the overall web gallery that could be accessed with free charges (Lee, 2015; Ramos, 2008). The two major tools that is available for SEM is identifiable to be SEO and PPC. The SEO acts as an effective measure as it helps in enhancing the prominence within the globe and helps in increasing the prominence. PPC is identified to be the next best option for enhancing the prominence within the global domain. The PPC helps in enhancing the promotional activities that are undertaken by the organisations with the help of other websites that enhances the transparency of the business increasing its global prominence. The company has been successfully increasing the global prominence with the help of the tools such as the SEO and PPC that helps in increasing the prominence within the global dimension (Lee, 2015). Off Page SEO Techniques By engaging in social networking sites and advertising on the same sites, the company can build an effective image and recognition for its furniture. Accordingly, using Facebook, twitter, goggle and other social media platform for promoting office furniture will increase the number of customers, as it will help to enhance the link between seller and customers. Additionally, blogging also help to promote the official website online and connect with more customers globally. It influences the customer to return on the website repeatedly, which help to rank higher in ‘Search Engine Results Pages’ (SERPs). Moreover, blog marketing and forum marketing also help to build up a unique image of brand on internet and if the company comment in different blogs having same niche will also help the customers to visit the company’s site. Besides, Social Bookmarking, ‘Search Engine Submission’, ‘Directory Submission’, ‘Photo Sharing’, ‘Video Marketing’, ‘Answer Questions’ are integral aspects that will help the company to make its websites popular (Innovation PEI, n.d.; Tutorials Point, n.d.). (Source: Office Furniture, 2015) Task 2.2 E-mail marketing newsletter From: Subject: Attractive offers from Office Furniture Date: To: Reply To: Dear Sir/Ma’am, We are offering the diverse range of conference and office room decor for office as well as for home office. We are offering massive discounts on the different conference room decorations that include chairs, board room desks, and podiums among other world class range of furniture. The discount rates are starting from 30% to 50% and we provide free delivery along with free assembling of the furniture. For any further enquiry you can visit us at http://all-office-furniture.officefurniture.com/ we are also available at facebook and you can visit our pages at https://www.facebook.com/officefurniturecom and on Tweeter https://twitter.com/OfficeFurn. Regards Sender Name Task 2.3 Best Practice to Maintain Online Public Relations Public Relations are identified to be a process of managing various level of communication within an internal as well as external environment. The main purpose of such marketing techniques is identified to be a positive relationship with all the stakeholders towards increasing the brand value and overall productivity of a particular company (Stokes, 2012). With the incorporation of virtual integrity, it is an important concept for a web based business culture is to maintain a strong public relationship for optimizing the overall business efficiency and ensure positive outfields of a particular brand (Phillips, 2001). The office furniture domain has been integrating the diverse needs of the business and associated with enhancing the effectiveness to maintain the transparent system of business. The company has been increasing its presence in the different social networking websites such as Facebook as well as tweeter. OPR Practises To maintain Online Public Relation (OPR) the company should create effective communicative strategies that can impose positive and strong impacts on the customer perceptions. It will help to convince the customers about the quality and the features of the products and form better loyal customers. By creating forums, effective search engines, marketing blogs and discussion threads among others, the company can enhance the OPR which positively affect the sales and profit percentage of the company. Online communication tools effective help to enhance the relationship between the company and its customers as well as boost the brand reputation and recognition across the world. Efficient marketing tactics, optimised blog, PR Newswire and public news releases endow the company with ‘online media coverage’ and using social bookmark also increase the awareness about the company among the customers using the platform of internet (Noble, 2007; Phillips, 2009; Kelleher, 2006). Task 2.4 Role of digital media communities for business expansion Social media plays an integral role in developing the different attributes that are evident within the business domain and helps in increasing the effectiveness of the business to perform. The diverse needs that are associated with the business domain are identified to be enhancing the prominence of the business within the complex social dimension and are identified to be increasing the prominence of the business (Miller, 2012). With larger number of people, being aligned with social media the online organisation has been promoting the needs within the social media websites for enhancing the prominence within the globe (Coetzee, 2011). Improving Digital Marketing Communities In order to improve digital marketing communities, the company needs to review and reshuffle its existing strategies related to digital marketing. To get positive response from the customers, company must rearranged its targeted customer and increase its exposure to build up digital marketing communities. The company can structure a team of digital marketing and if the company is unable to act the same, then it can hire 3rd party marketing team expert in digital marketing. The main purpose of hiring digital team is to focus on improving digital marketing strategies, which will add extra benefit to the company without handling any organisational conflicts. Additionally by incorporating ‘Multi-Channel Digital Marketing Campaign’ the company can maximise its favourable result. Moreover, epic content tactics helps to take the advantages of competitive market and assist in campaign of digital marketing. Additionally, by enhancing the content with putting Links, Videos and Images among others increase the viewership. Diversify the digital marketing strategies and continuous improvement will help the company to improve digital marketing communities (Ryan & Jones, 2011; Smart Insights, 2012; Stokes, n.d.). Learning Outcome 3 Task 3.1 Conduct Secondary Market Research The business has been thriving within the social domain and has been enhancing the global presence based on the effective management of the different attributes. Within the fast moving lifestyle that is evident within the technology savvy generation developing an effective domain has been identified to be one of the prime needs of the business (Lin, 2013; Schwede, 2006). Thus, the business has been successfully developing the prominence within the global arena and has been enhancing the prominence within the diversified business dimension. The major competitors that are identifiable within the business are amazon, alibaba, flipkart that are likely to provide steep competition to the organisation. The business model that is mostly followed is with the use of B2C and the same is likely to enhance the prominence within the global domain. The company has been successfully enhancing the prominence of performance based on the effective measurement and enhancing the ability to perform. By integrating the B2C model, the organisation has been successfully managing the complex social dimension within the global edge. On a larger note, it has been noted that different groups of people visit the website of ebay and traffic is visible for the website the following diagram provides a better understanding for the stated research needs. Figure: Gender Traffic Visiting Website Alexa, 2015 The development of the different attributes is identified to be enhancing the effectiveness that is associated with the organisations. The websites are identified to be equally visited by the different people. This could be noted from the following historic trends of the traffic within the websites. The following picture provides a comparative index for the website with its competitors. Alexa, 2015 3.2. Questionnaire The questionnaire has been prepared using the survey monkey tool and is identified to be aligned towards enhancing the transparency that is associated with the business within the global edge. The questionnaire has been provided in the appendix section. 3.3. E-CRM The electronic Customer Relationship Management (CRM) provides for an interactive domain for the organisations to collect information from the people and address them in a more efficient manner. This could be identified to be developing a better attribute for the consumers towards developing a strategic domain, enhance the prominence through gaining proper and effective information from clients, and apply the same to get better information regarding the consumer’s needs. 3.3.1. Benefits Maintaining Customer Relationship E-CRM programs are effectively help the company in fostering good connection with its customers and influence their preferences to choose the company repeatedly for further purchase. Moreover, such programs will help to create trust among the customers by ensuring product quality and features, satisfied their need by better cooperation. Additionally, it also helps to spread the communication over other customers, as the loyal customer prefers other to purchase quality product from the company (Scullin et. al., n.d.). Quality of Services and Delivery Process As it deals with customer loyal and integration thus, to retain existing customer the company has to improve the quality and the features of the products to sustain in the competitive market. In this way customers can able to get valuable and quality based product in reasonable price (Scullin et. al., n.d.). Speed Up the Transaction Process E-CRM practises speed up the transaction process as a result in reduce the processing time and quicken the process of acceptance of their orders. It also helps in distribution process of the company and satisfies the customer’s needs and requirement on time (Scullin et. al., n.d.). Personalized Services E-CRM programs help the company to prevent its competitor of copying or imitating its product and services and create personalised services where both the seller and the purchaser feel safe for purchasing official furniture (Scullin et. al., n.d.). Besides, these it also enhance customer support, service qualities, make the marketing strategies more effective, greater efficiency in performance and cost reduction among other, which in turn increase the opportunities for the company (Scullin et. al., n.d.). Learning Outcome 4 4.1. e-Marketing Plan 1. Introduction The online marketing plan is identified to be developing the effectiveness that is associated with the business and is identified to be enhancing the effectiveness that is associated with conducting the business needs. The diverse needs are developed so that the overall needs of the organisation are to increase the prominence both under large as well as small-scale domain. In order to enhance the planning process the organisation must be considering the various attributes that are associated with the business needs. 2. Situational Analysis 2.1. Macro and Micro Analysis For conducting the macro analysis of the business the different attributes needs to be conducted, the company must be undergoing SWOT as well as PESTEL to meet with the needs of prominence as well as business expansion. The Micro as well as Macro analysis helps in enhancing the prominence of the business and increases the effectiveness of the business to enhance its grasp to capture larger business dimension (Ryan, 2014). 2.2. Segmentation The segmentation that is associated with the business includes segmentation in terms of the gender, age as well as other attributes that are associated with the business. The major segmentation could be visible in terms of enhancing the gender based as well as age based segmentation that is evident within the different marketing domain that are prominent within the internet domain (Rayport and Sviokla, 1995). 2.3. Targeting The targeting of the consumers needs to be predefined as it is going to enhance the effectiveness of the business to perform and enhance the effectiveness of the business for performing in a more effective manner. The targeting planning helps the business to enhance the prominence in terms of enhancing the effectiveness of the business and develop the overall credibility to perform. 2.4. Competitors The major competitors for the online trading are identified to be the different business entities that have been performing within the global domain. The major competitors that are identified for the company are alibaba, amazon as well as flipkart that have been trading goods in the similar genre as that of the company. 2.5. Positioning The company must be focused towards developing the effectiveness in order to meet with the diverse needs and enhance the effectiveness that is associated with the needs of the development of websites amid the suppliers. 3. Marketing Mix Marketing Objective The overall marketing objective that is associated with gaining office furniture is identified to be spread with various product related information as well as the diverse feature that are associated with that of the product so that better promotional appeals could be availed towards increasing overall sales volume that are associated with the product. In this similar context, it is also identified to be an important objective that helps in enhancing online business and provide a secure web browsing facilities to the consumer so that frequent buying behaviour of consumer will help to increase the overall promotional objectives. The following are the different marketing mix strategies that are being used for the product that is being selected for marketing. 3.1. Product Overall marketing strategy for an online furniture business is to increase the product variety and increase the acceptability of the same within the global edge. 3.2. Place Online web platform is identified to be the main targeted area for a business where the overall consumer base is identified to be fully neutral. Therefore, an effective planning tool and digital marketing campaign will help to increase the overall business framework. 3.3. Price Price is an important concern for an online business development. Therefore, it is an obvious issue for the business developer to maintain a static pricing model and enhance overall consumer perception. This will be positively influenced by the proper pricing policy and free installation of an overall furniture setup. 3.4. Promotion The performance of the product is to be promoted using the SEO, as well as PPC, including the interactive banners, through the online advertising for enhancing the prominence among the consumers. 3.5. Extended Marketing Mix The targeted people are identified to be the people who are planning to develop the prominence within the global dimension and enhance the prominence based on the effectiveness that are associated with the same. An extensive buying and selling needs to be conducted for enhancing the process that is associated with the transaction conducted for the business. Physical evidence is considered the different pictures as well as the essence of service provided to the consumers globally (Hemann & Burbary, 2013). 4. Contingency Plan The contingency planning majorly includes preventive measures that could be undertaken for developing the transparency within the business and increasing the effectiveness that is associated with the same. Failure of the server as well as other failures is common errors that may arise within the system and the company needs to plan for the same in a more effective manner (Carter et. al., 2011). 5. Conclusion The overall marketing plan intends to provide a diverse view regarding the different approaches that are identifiable within the domain of the developing a prospective business. However, the diverse business is identifiable for enhancing the effectiveness of the organisation to perform and develop the credibility to meet with the needs of the business at large. 4.2. PPC PPC termed as ‘Pay per Click’ and ‘Cost per Click’, which is a model related to internet advertising. It helps in the process of reviewing massages by handling the traffic systems in websites with respect to clicked. Simply, it defines the amount pay by the advertiser to its publisher in which websites the advertisement was clicked (WSI Corporate. n.d.) Advantages It helps to define the budget amount for the advertisement that has to be paid by the advertiser. If the budgets were reached, then the publisher will stop displaying add on the said website It helps to target specific key words for the massage to effective influence the customer’s preferences It will give faster result to the advertiser company It will also help in targeting specific region or market Source: (WSI Corporate, n.d.) Disadvantages It can create conflict among the publisher and the advertised based on the ‘pay per click’ regulation or can create bidding war It remains the possibility of fraud clicks As it charges for each click so it will cost different for different sector which also create difficulties Source: (WSI Corporate, n.d.) The online business domain must be opting for the different plans as well as programs that are to be initiated for enhancing the marketing program and develop the prominence within the globe (Szetela & Kerschbaum, 2010). The company has been opting for various popular websites to develop the prominence across the globe and enhance the effectiveness towards enhancing the effectiveness of the current business (Brown, 2007). References Alexa, 2015. Dashboard. Home. [Online] Available at: http://www.alexa.com/ [Accessed August 28, 2015]. Botha, J. & et. al., 2008. Managing E-commerce in Business. Juta and Company Ltd. Brown, B. C., 2007. The Ultimate Guide to Search Engine Marketing: Pay per Click Advertising Secrets Revealed. Atlantic Publishing Company. Carter, B. et. al., 2011. Digital Marketing For Dummies. John Wiley & Sons. Coetzee, D., 2011. Digital Marketing Planing Process, Digital Marketing. [Online] Available at: http://www.xtmotion.co.uk/digital-marketing-plan/ [Accessed August 28, 2015]. Epstein, M. J. & Yuthas, K., No Date. Evaluating The Effectiveness Ofinternet Marketing Initiatives. Measurement, pp. 01-38. Hemann, C. & Burbary, K., 2013. 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Appendix The questionnaire survey could be conducted using the following link: https://www.surveymonkey.com/r/PWJKYNL SurveyMonkey, 2015 Read More