Benefits and Strategies of Internet Marketing - Coursework Example

 Cover Letter This proposal is presented to the CEO for the proposed improvement of Internet marketing in the company. Besides the proposal aims at improving business development in the company in regards to globalization in technology. Table of Contents Executive Summary…………………………..……………...........................................................4 Introduction…………………….…………...………………………………………………….....5 Target Market……………………………………………………………………………………...5 Positioning Strategies………………………………………………………………………… 5-6 Position of the Object…………………………………………….……………………………......6 Marketing of Products…………………………………………………………………………….6 Product Strategies ………………………………………………………………………………...7 Differentiation and Strategies of Products………………………………………………………...8 Findings…………………………………………………………………………………………...9 Conclusion and Recommendation………………………………………………………………...9 Reference List…………………………………………………………………………………10 Annotated Bibliography ………………………………………………………………………10 Executive Summary This proposal aims at identifying ways and means of effectively using the internet to market an organization or company in regards to the kind of services and goods it offers to its immediate clients and customers. Internet marketing is the main concern of the world today with many organizations majoring into selling and buying through the internet. The proposal also aims at identifying the way of making business productive and marketable using the internet. The proposal also aims to explain how effective internet marketing can help in promoting business beyond borders at low cost. In regards to internet marketing, the proposal also explains how other social media applications can be of help in promoting and doing business all over the world without necessarily moving from one place to another. The proposal furthermore defines ways on how globalization has made business easy due to rapid development in technology. World technology through Wide Area Applications (WAP), has promoted invention of business platform such as e-commerce that focuses on the business electronically through mobile phones, computers and even computerized devices such as Bluetooth. Introduction According to Silverstein (2000), Internet marketing refers to the sale of commodities through web and email with the aim of driving valid and productive buyers. In addition to selling and buying of products, websites and emails enable online advertising of the same goods and services typically in conjunction with old methods like television, radio, magazines, and newspapers. Target Market According to Kotler & Armstrong (2012), most of the companies and organizations always think selling and buying of goods online is the only way to make wider market in regards to business success. Many are frightened to venture into online marketing since they fear they might lose lifetime savings besides turning off potential clients. Many fail to realize that selling and buying online is the same as doing one-on-one service with valid customer in daily life situation. Online marketing entails winning trust and confidence of respective clients or customers in regards to particular service or good you wish to offer. The target market will, therefore, depend on the type of service, or a good one offers into the immediate market. This will enable potential and valid buyers find and decide on which product or service they wish to be offered. Most individual companies and private organizations take time to realize how potential and valuable their market is in the immediate surrounding without giving a niche on the internet. Furthermore, they do not know how valuable their services and goods are valued by immediate market globally only through internet marketing. Positioning Strategies Strategies employed will help in the creation of desirable picture of the organization and the products it has produced in the minds of the consumer and market as a whole. Positioning strategies refers to the process of creating images into the minds of potential and valid clients and consumers who are interested in particular product or service offered by the company. It is, therefore, important at this stage of marketing for a company to separate itself from its competitors to win trust and confidence of most of its clients. This will enable the company organizes its time and services in regards on to how they can be delivered without delay to respective clients. This stage also majors most on the brands offered by the organization. It is, therefore, upon the organization to see into it updates the company’s brands and makes them readily accessible online. This can be made possible through domain identity such as; www. Processingproducts.com, www.products.com or any other means desired by the company to sell the company online effectively. This will enable faster and timely selling of both products and service of the company without any problem. The method is competitive and is currently the best competitive way a company can make it through into the business world. This method of is, therefore, called electronic commerce (e-commerce). Through these domains and sites, clients can relate their desires into particular product or services, and they can get quick and reliable responses (Ramos & Cota, 2009). Position of the Object Thomas, (2007) explains that this will enable the clients select the best market opportunity in relation to their needs. In return, it will help the organization acquire best of target group as far as potential segmentation is concerned in marketing of goods and services. In addition to these, the SWOT analysis reviews and analyzes the market opportunity. The aim will be to find relevant resources and expertise of the market on how best it fits into the selected category of online businesses. This will also enable potential clients and buyers to look through the company profile. By doing so, they will have first-hand information about the business' services for later review when interest arouses of the same. This becomes possible through different marketing segments. For example, it must be accessible both online and within search engines. The size of the adverts must be accommodative in any of the search segments. Furthermore, it should be profitable to the organization. This will enable the company have a mixed identity of resources in regards to services it offers to the members of the public. This entails banners and advert lines through various search engines for instance yahoo and Google will help market and sell the products of the company without further introducing the company to selected individual. Most online marketers such as Amazon have adopted the strategy of exclusively targeting clients through their most regular valuable services and products through most of the search engines. This has enabled them be the most desired and wanted service providers all over the world for first and up to date services in the global. The internet is a big promise in business advertisement this is because it will be visible to all the potential and valid clients who would be in need of similar service or goods as posted in the website. Most of world growing business and private organizations have made it through social media such facebook, twitter, and search engines. The risk of this strategy is that when a company has no strong lucrative market online, the competitors will take over. The competitors may overwrite the search engines with other irrelevant links in regards to possible services offered by the immediate company. He company should, therefore, subscribe to the mass product identity and search relevancy so as to enable it have potential and first hand valid customers in respect to the services it offers to the members interested online. Marketing of Products Ferrara (2013), asserts that, marketing of products in line depends mostly on how effective the website or online portal is used by different users. This is in line with how designated search engine has been put into working by different individuals or competitive organizations that have the same products or service in the market. For effective selling and buying of goods online, it is significant that companies use online search engines. Take for example Google, which have over billion users. Through it, one can search and at least have an interest on the goods and services that the company offers any given point of the search. Through this search engines, consumers can identify various products they are interested in, and buy or refer to potential customers. Such referrals will help in building network of buying and selling of commodities as far as business is concerned. Furthermore, products and services offered by the organization can vary depending on the company producing the service or good for sale. Customer’s goods for sale are considered to be consumed locally or internationally by immediate customers in regards to the way they are targeted in the market. They are often referred to as (B2C) meaning business to the consumer market. The other market is known as consumer-to-consumer (C2C) market; this entails both consumers selling and buying similar goods and services to the same market for consumption purposes. Product Strategies There are certain products for instance, search engines that are not familiar to the internet while books use the internet to define distribution channel. Products developers face many challenges due to customer control and electronic marketing factors and through this they enjoy opportunities while creating customers worth. An organization must do research to come up with innovative ideas of handling competition in the market to achieve higher value. The new products are categorized under these strategies: new product line, revisions of existing products, addition to existing product lines, discontinuous innovation and product positioning. Differentiation and Strategies of Products According to Ramos & Cota (2009), Internet marketing impacts greatly on product packaging because marketers come with appealing designs to consumers. It helps also in quality since products are marketed through designated websites and pages online. It entails a situation of giving both products and services that consumers require at affordable prices. It builds a relationship between customers which is of an essence to the taken directly from distributors to consumers without passing through retailers thus lowered prices and quality products. Thus saves time for consumers since it does not undergo through a lot like packaging, coloring, but only size and shape that is important. The marketing strategies depend on the image of all relevant information present on the internet this can help an organization greatly since its brand will be recognized worldwide. The number of consumers who will be yearning to utilize their products will increase to unimaginable level because of the proper information about the product and why it should be embraced in the job market. This can also create permanency for a company on the internet market even if the competition become stiff due to trust the consumers has on them thus a lot of benefits to the organization. Several companies have gained positive confidence in consumers due to the strong image they have created over the years on internet marketing. Companies like Amazon use their website, Amazon.com to gain full confidence of users. Monster.com is also another website which have been embraced over the years because of its efficiency in offering job search platform; which has benefited many job seekers, thus its permanency cannot be disputed (Ferrara, 2013). Internet marketing has been used to lure consumers to different brands though the same product, and it depends on the professionalism an organization acquires in handling this. Most companies create best websites to be on the forefront in coming up with best strategies that are accepted by customers worldwide. Innovative aspect of the company’s human resource helps it to provide up to date services that are not comparable to others to win the race in marketing the products through better image applied. A company’s strength depends on internet marketing strategies they put in place, and this is given upper hand in coming up with electronic marketing ideas. Human personnel involved in this should be confident in their work, self-driven, competent and knowledgeable in order to market high-quality products that are relevant to consumer's taste and preferences. Findings Most successful companies and organization all over the world are internet orient in that they do most of their business online. In the modern world, globalization has taken over all human-made means of communication and relations as far as doing business in concerned. It is also clear that the business depend on each other in many ways, for example; the internet businesses depend on online marketing to make a profit. Therefore, to maintain these co-relationships, strategies used should favor all businesses regardless of how much it makes as a profit. The research further finds out that business is the main source of income to many developing countries all over the world through online marketing. It is important to market a company or business online to reach everybody all over the world besides making the business known to different individuals and institutions that may be interested (Bailey, 2011). Conclusions and Recommendations In summary, internet marketing is the world’s best-known method for the sale and purchase of commodities in regards to speed and flexibility. Many organizations and privately owned organizations are using the internet and social media applications to market their products into the world. It is due to technological revolution that internet is a global interest into the third world countries. In the world today, many companies are making fortunes online compared to one-on-one selling of products and services to the clients. Internet marketing has reduced the world into a smaller village where sales happen through clicks of buttons and payments are made in microseconds depending on how the seller and the buyer have talked. From the discussion of internet strategies and benefits, it is, therefore, important for companies that have not thought of doing online business to start venturing into the business. They are losing much compared to the interest and desire of the company in regards to making profits and popularization of the company. Business is all about exchange of goods and services; and if there if a platform on which all this can be done without difficulty, then it is upon the company to invest on the same without considering the outcome. Business is all about losing and gaining. When a company is not ready to lose, then it should pack and close the business. Internet marketing has the best strategies and benefits as to how an organization can make a profit and grow objectively. It recommends that, any starting or growing company should invest extra into internet marketing so as to capture many valid and potential clients all over the world. This will also help the company or organization to expand its service globally without moving physically to the designed location. It will depend on how individuals have accepted the services and how effective they are to the immediate community. References Bailey, M. (2011). Internet Marketing: An Hour A Day. Indianapolis, Ind.: Wiley Technology Publishing. Ferrara, M. (2013). Gale Business Insights Handbook of Global Marketing. Detroit: Gale/Cengage Learning. Kotler, P., & Armstrong, G. (2012). Principles of Marketing (14th Ed.). Boston: Pearson Prentice Hall. Ramos, A., & Cota, S. (2009). Search engine marketing. New York: McGraw-Hill. Silverstein, B. (2000). Business-To-Business Internet Marketing: Seven Proven Strategies for Increasing Profits through Internet Direct Marketing (2nd Ed.). Gulf Breeze, FL: Maximum Press. Thomas, A. (2007). Direct Marketing In Action: Cutting-Edge Strategies For Finding And Keeping The Best Customers. Westport, Conn.: Praeger. Annotated Bibliography Kotler, P., & Armstrong, G. (2012). Principles of Marketing (14th Ed.). Boston: Pearson Prentice Hall. The book explains various elements of internet marketing and how effective they are to an organization as far as buying and selling of goods happens online. Besides its gives guidelines on the how an organization and apply the elements without spending much. It thoroughly explains the primary principles of internet marketing to the reader for easy application. Alongside, it also details examples of organizations all over the world that have tried using the same. The book further explains to the reader on how to improve the business with online affiliates such as Google, earn per click in addition to other social media applications. Silverstein, B. (2000). Business-To-Business Internet Marketing: Seven Proven Strategies for Increasing Profits through Internet Direct Marketing (2nd Ed.). Gulf Breeze, FL: Maximum Press. This book outlines various internet and social media elements used for the improvement of business online in relation to incorporating one business with the other. It gives self-explanatory details of the information on how an organization ca merge with different business sectors to boost and make their business known globally without using extra amount of money rather than the much set aside for marketing. It also provides an explanation on how to market business widely on the internet; with the help of search engines and referrals by members within the organization who are registered under the company as affiliates. Moreover, the book analyzes ways of improving business designed to generate profit for future expansion of the organization. Bailey, M. (2011). Internet Marketing: An Hour A Day. Indianapolis, Ind.: Wiley Technology Publishing. This book by Bailey describes ways and means of doing online business in regards to time taken while online. It explains how an organization can utilize an hour to improve its daily outcome through referring links to clients registered in the organization website. Besides, it also gives details on how social media is a better business platform that has enabled growth of various businesses both locally and international. The author further explains reasons that can make a business grow widely online depending on the number of guest or visitor visiting a particular web page. The profit, therefore, generates through clicks made as one browse through the pages or blogs of the organization or company described. Read More