Internet Marketing Mix and its Elements - Report Example

INTERNET MARKETING Table of Contents Table of Contents 2 Introduction: 3 Task 3 a. Internet marketing mix and its elements: 3 b. Comparison ofE-marketing tools: 5 2.a. Search engine Mechanism and opt-in e-mail marketing newsletter: 12 2.b. Online Public relation practices and best practices in online public relations: 14 3.a Market research report: 14 3.b E-CRM Software and its usage: 17 4.a Internet Marketing Plan: 17 4.b: Pay-Per Click for Tradition Calls: 19 Conclusion 19 Reference List: 20 Introduction: In the words of Bogart (2008), internet is the next big revolution since the Industrial Revolution. Internet has changed the lifestyle of the global society in aspects of social, cultural and business relations. Internet is commonly considered as a process of connecting various, individuals, groups, communities, firms etc as well as it has transformed the process of knowledge sharing. With these primary features, internet became one of the most reliable and steady platform for communication and information distribution (Venkatesan, McAllister and Ganesan, 2010). In terms of business segment, internet has allowed the organizations to expand their reach to the consumers and also developed a better scope for building brand identity in the international market place. In the contemporary scenario, online marketing has evolved as the driving process while traditional marketing rides pillion. The contributions of internet have created opportunities for small and medium scale firms to improve their business development process. The team of EMT will focus on identifying potential individuals or groups with skills or ideas and inform them about the benefits of internet marketing process. Task 1: 1.a. Internet marketing mix and its elements: The marketing mix being used by the business process originally consisted of four components namely, price, products, promotion and place but was further extended with the inclusion of process, physical evidence and people (Ulaga and Chacour, 2007). According to McDonald (2006), the transformation of internet into an commercial tool has also led to the usage and the role of internet. Business firms use internet for database management, information collecting, sharing and storing, communication and finally for marketing process. The marketing mix model for online marketing have been defined and developed in various manners. Some of these models are based on the initial model of the marketing mix and focused on internet users only while some scholars have used the extended model of marketing mix while some other models have been developed by considering the internet techniques tools that are used in the marketing process. Figure 1: Internet Marketing Mix (Source: Hart and Ellis-Chadwick, 2000, p - 35) The above given marketing mix for online marketing has been developed considering the various techniques and methods being used by the corporate firms. This model has been selected as it reflects the functions of the various online systems and their outcome. The two most important aspect of online marketing in the contemporary scenario are search engine optimisation and social media optimisation. Search engine optimisation includes developing advertisements and contents that can be reflected in the first page results of any search engine (Hart and Ellis-Chadwick, 2000). On the other hand, social media serves a more specific purpose of connecting the consumers with the business houses. Growing use of social media has urged the corporate firms to develop their virtual profiles and connect with their consumers in an open forum. As provided in the above model, SMO helps the business to develop public relations, customer relationship management and a sustainable marketing approach (Bart and Urban, 2008). Apart from these; e-mail marketing is used for approaching potential customers whereas affiliate marketing is more commonly known as pay per click system where the business pays its associates for increasing the number of the visitors in their web page or advertisements (Calder and Malthouse, 2008). Online advertising includes all the promotional techniques being used by a firm such as video promotion, micro-blogging and other flash or 3D advertisements. 1.b. Comparison of E-marketing tools: E-marketing or online marketing process has changed the trend and the process of approaching the consumers. As organisations started identifying the benefits of online marketing in comparison to the traditional form of marketing, their marketing activities were synchronised with the online tools. Some of the key e-marketing tools are the SEO and SMO processes (Payne, and Holt, 2008). Search engine optimisation is mainly used for increasing the number of the visitors in the company website. Apart from this, search engine optimisation also helps the business process in identifying the probable keywords being used by the customers to search for their related needs and requirements. On the other hand, SMO processes are more focused on developing a specific and focused marketing process. SMO also acts as a database for the organisations to observe consumer behaviour and feedback regarding various services and products. The most essential contribution of SMO is that it enables an organisation to engage in direct communication with their customers and other stakeholders (Brodie, Coviello and Winklhofer, 2008). In comparison to SMO and SEO, e-mail marketing is also used as a potential source for increasing consumer awareness regarding brands, products and service (Payne, and Holt, 2008). Based on the growing usage of internet, many virtual organisations have also cropped in the business sector. These firms act as a marketing process and an online shop for the consumers which gave rise to the concept of online shopping. American virtual firm Amazon is one of the biggest brands in the e-shopping segment. The operational process of Amazon has been developed in a transparent manner which eases the navigation process of the consumers through the website. Figure 2: Amazon Home Page The website of Amazon has provided a clear picture of consumer offerings and can be easily selected from the drop down box of “select by department”. The selection of the product is also supported by various alternative options that are suggested in the product selection page. The information provided with the products includes price, model no., brand name and the key features of the product. Figure 2: Amazon Product Selection Page Figure 3: Amazon Product Selection Page Once the product is selected, the consumer is redirected to the page of sign in or account creation (if the consumer is new) or the order checkout page. The checkout process begins with the basic information regarding the order such as the order delivery address and the communication details of the consumers. Figure 4: Amazon Delivery Address Page Once the product quantity and the product delivery address are confirmed, the consumer can proceed to the payment page. Figure 5: Amazon Product Confirmation Page After the delivery address and the product quantity has been confirmed by the consumer, the next page is related to specific information regarding the nature of payment. The payment options available cash on delivery, debit card, credit card and internet banking options. The consumer can select any of these options and close the order. At the end of the transaction, the website provides an automated tracking id which can be used to monitor the progress of the order. Apart from this, the Amazon has also provided an opportunity of 24*7 customer support via online chat and call. 2.a. Search engine Mechanism and opt-in e-mail marketing newsletter: Search engine optimisation is one of the most commonly used processes in the business segment. The SEO allows the business firms to ensure a better and favourable search result to the customers while using any search engines. In order to generate a favourable SEO, firms affiliate with search engine providers such as Google, Yahoo and Bing and start developing their personal webpage with the relevant keywords (Boulding et al. 2010). These keywords are tracked by robotic programs called spiders which are related to algorithmic rating of the search engine. The SEO results depend on the relevancy of the keywords entered in the meta-tagging process of the business. Apart from these, third party online content promotion is also used in order to enhance the reflection of any particular website (Khalifa and Liu, 2009). Other methods which contributes in SEO process include page ranking, site popularity factor, server configuration of the firm are also used by the business firms for developing a suitable search result for their consumers (Bellman, Lohse and Johnson, 2009). Opt-in news letters are a method of spreading information and knowledge among the community with the help of internet. It begins with an invitation to the target consumers for signing up with the Newsletter and following it regularly. The consumers can read, express their views and ideas, download and spread the information acquired from the newsletter to the outer society. Mostly opt-in newsletters are used for creating awareness regarding any particular topic and also understanding the pre-developed state of mind of the consumers. The opt-in newsletter developed in regards to this study included the basics of using internet for promotional purposes. Also the newsletter reflected the operations of the various organizations in the virtual segment and the various advantages, disadvantages and trends of online marketing. 2.b. Online Public relation practices and best practices in online public relations: Online business activities are conducted with a number of goals and public relations is one of these objectives that also act as a supportive factor for the other online activities such as marketing, promotion and brand development (Cho and Fjermestad, 2010). In order to develop a sustainable public relation, firms first develop a clear objective and the nature of messages that they want to deliver to their target consumers. Often it has been observed that online activities create platforms or hangouts that act as source for identifying potential consumers (Khalifa and Liu, 2009). These hangouts are targeted by the firms for enhancing the efficacy of their online profiles. The most common practice in the online PR building is the process of presentation of the brand and the services and reflecting them to other promotional and news agencies. Also some firms engage in developing their own PR by customising their ideas and presenting to a specific consumer group. Campaigning is another process that is used in PR development (Bart and Urban, 2008). 3.a Market research report: The market research created during the e-marketing campaign was based on a survey marketing process and the primary aim was to identify the knowledge of a community regarding the benefits and usage of internet for promotional activities of business. The survey included around 100 respondents selected randomly from the particular community. The only criteria of selection were the age group of the respondents which was minimum 18 years above. The development of the market research was also influenced by some external factors that included monetary concerns and time contra tints of the researchers. The results collected from the online survey process were analysed with software such as SPSS and MS-Excel. The primary data was used to develop a quantifiable outcome and assess the contribution of internet in the personal profiles of the respondents in measureable terms. On the other hand, the researcher also used secondary data for analysing the existing literature published in context of e-marketing. The items selected in the newsletter published by the E-marketing team were based on the outcome of the market research process. The market research began with the process of assessing the important aspects of internet that are being utilised by the business firms for enhancing the scope of business activities. Based on this, the aim and objectives of the marketing research was developed. The marketing research process also considered the acceptance of internet as a probable and influential tool for business promotion. After setting the parameters of the market research process, the team advanced towards the process of selecting the most appropriate methods which included identifying the suitable respondents base, setting the online questionnaires, acquiring analysis tools and techniques, collecting secondary data and resources from online and offline databases (Khalifa and Liu, 2009). Considering the secondary marketing research process, it was observed that most of the people are aware of the growing influence of social media and other online techniques for business development. Even consumers are also considering social media as a potential tool for selection of brands, products and services. Internet has become a necessity for the daily lives of the people and it is helping people connect across geographical barriers and develop an information database for the consumers and the businesses of the world (Cho and Fjermestad, 2010). According to Lumpkin and Dess (2009), the most beneficial feature of online marketing is that it allows the business houses to capture the feedback of their consumers and the gaps in their marketing process. Apart from this online analysis and comparison are being used by both buyers and sellers in order to create a market structure that contributes towards the decision making process of the firm (Cho and Fjermestad, 2010). The secondary data used in the research process also reflected that online marketing process has been accepted by the consumers as a technique for keeping themselves updated with the market trends and market nature. However, some of the scholars such as Szymanski and Hise (2008) and Bellman, Lohse and Johnson (2009) have stated that excessive online marketing process has provided access to the consumers for analysing the market information and evaluate their need and the products being offered in a logical manner. This is also a threat for the business houses as consumer loyalty is decreasing and logical decision making is creating a favourable condition for the buyers but the stiff competition is reducing the scope of the sellers (Bart and Urban, 2008). The primary research indicated that most of the respondents are aware of internet being a potential marketing tool but are not able to align the business needs with their e-marketing process. The respondents also stated that factors such as social media and blogging process take huge investments for establishing a sustainable marketing plan which is not feasible for the small scale organisations. Apart from this, the respondents were also not aware the internal factors that are related with internet marketing for instance the SEO or SMO processes. From the market research, the gaps in the knowledge of the respondents was successfully identified which was later used in developing the contents of E-Marketing Team Newsletter. The marketing campaign also included organisation of small events in local business hubs for creating awareness among the people regarding the appropriate use of internet in the organisational process. 3.b E-CRM Software and its usage: E-CRM is basically the concept of customer relationship management being performed in electronic devices which also creates the customer database for the organisations. The E-CRM process is mostly related with the database management and the marketing process of a firm (Bart and Urban, 2008). The development of the marketing plan includes E-CRM as it helps them in assessing the needs of customers and the problems faced by the consumers while accessing the facilities provided by the concerned corporation. E-CRM also helps the organisation in gathering consumer data regarding their preferences which helps in accelerating their consumers and also developing a steady relationship platform for the business houses (Khalifa and Liu, 2009). As internet has helped the business segment in connecting its CRM software with their consumers in 24*7*365 days, the business can get in touch with the customers any time and vice-versa. E-CRM software stores the information of the customers under different queries as set by the organisations which are transferred to the mother server of the organisation. This allows the employees to access consumer database from anywhere (Szymanski and Hise, 2008). On the other hand, E-CRM also categorises the customers according to their preferences, income groups and shopping behaviour allowing the employees to serve a customer better and faster. These factors are also considered as a major aspect of the business growth. 4.a Internet Marketing Plan: The internet marketing plan was developed a small club named Tradition Calls. The club has 5 members who are engaged in developing handloom and traditional products and sell them in the market. The products of the club are highly acceptable in the market in terms of excellence and design. However, Tradition Calls is not aware of the internet marketing process and the benefits that can be derived from internet marketing. Also they are not financially stable to develop an online profile or carry out their marketing process in the internet. It can be observed that the problems of Tradition Calls are aligned with the business houses and hence they were selected as the internet marketing planning research. The scope of the internet planning process was to create awareness among potential candidates of a community to enhance their business activities with the help of internet marketing. The steps involved in the marketing planning process were Situation analysis for assessing the contemporary scenario of the subject matter, objective development from scope of the plan, strategy formulation for carrying out the plan, implementation of the plan and finally controlling the plan. The internet marketing plan of Tradition Calls is as follows: The target market of the company is authentic and niche customers who wear traditional clothes. The next step was to create an online profile of Tradition Calls in open forums such as Facebook, Flicker and Twitter. Once the online profile is established the marketing plan will start attracting members so that they can reflect the quality of product to them and also create brand consciousness by providing organisational knowledge. After 100 members are recruited in the social media profile, the internet marketing planning process of Tradition Calls will focus on enhancing their online operations with blogging and SEO. A webpage of the club will also be developed where direct sales can take place for the company. The final stage of the internet marketing plan will be to assess the influence of the marketing process on the consumers and modify it accordingly. 4.b: Pay-Per Click for Tradition Calls: Pay-per click is also known as cost per click and is a process for internet marketing (Szymanski and Hise, 2008). The online marketing model when implemented with the help of search engine affiliation where the visibility and ranking of a website is enhanced as the advertisements are clicked by the viewers. In short, it can be stated as the process to make sure that the advertisements are being observed by the consumers. In pay per click model of internet planning process, the organisation has to bid with search engine service provider and pay them a certain amount which will be deducted at the number of clicks on the advertisements. The search engine provider also ensures that the advertisements are being reflected to the target consumers. Conclusion Internet marketing and its various aspects has been explained in the study. Internet marketing has changed the process of marketing planning of the firms, with the help of large network and huge consumer operations internet marketing has opened a virtual marketing platform for the corporate firms. 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