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ISU MKT 230 - E-Marketing

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MKT 230 1st Edition Lecture 14Outline of Last Lecture I. International Business and ForcesII. Lumber Liquidators CaseIII. Regional Trade Alliances, Markets and AgreementsOutline of Current Lecture – Chapter 10I. E-Marketinga. Positives and NegativesII. Characteristics of E-Marketinga. Potential Marketing Uses for Social Media III. Photo and Video SharingIV. Digital TechnologyCurrent Lecture – Monday, March 16, 2015I. E-Marketing- Question: The Internet originated when?o Answer: the 1960’s (1969) – The original internet shared information packets between 4 computers- Question: US Census Bureau estimated that 2013 Internet sales were approximately how much?o $268 billion dollars- Digital Media – electronic media that functions using digital code (rather than film or magnetic code)- Digital Marketing – uses digital media to develop communication and exchanges with customers- E-Marketing – strategic process of using digital media- Positives and Negatives of internet and social networking from a marketing perspectiveThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.o Positives1. Less Expensive2. Easy to reach a large number of customers3. Global4. Share-able5. Get customer perspective6. Targetableo Negatives1. Too much activity can create a negative image2. Image “piracy”3. False coupons4. Can be manipulated5. Less personal6. More competition7. More negative information can be easily shared- E-marketingo Biggest benefit is the ability to share information1. Between marketers and consumers2. Among employees3. With suppliersII. Characteristics of E-Marketing1. Interactivity2. Connectivity3. Addressability4. Control5. Accessibility- Interactivity – allows customer to express needs and wants directly to a firm in response to communicationso Contrasts one-way marketingo Allows for ongoing, real-time, conversations between marketers and consumers- Connectivity – keeps customers and businesses connected with each othero Social medial lends way to a large and diverse audience- Addressability –ability of marketers obtain digital informationo Consumers can find information about competitors products, prices, and reviews to be more informed about the firm- Control – consumers ability to regulate the information they receive via the Interneto Internet is a pull medium because the users decide what they seeo Power is in the hands of the consumer- Accessibility – the ability of marketers to identify customers before they purchaseo Example: offer promotions via customer’s mobile devices- Potential Marketing Uses and their advantages/disadvantageso Facebook – immediately seen and shareable, you can see where your information has gotten and monitor how many people have seen it, there is a wide range of ages that have access to Facebooko Twitter – instantaneous but could be information overload, HASHTAGS are extremely positive because it makes information easy to share and see others opinions o LinkedIn – market yourself to employers, digital resume, marketers can go look for specific skillso Blogs – less readers but more interest, limitless amount of information but they are less interactive and have to constantly be updated to retain viewerso Podcasting – work with employeesIII. Photo and Video Sharing- Video Sharing – lets users upload videos to the Interneto Viral Marketing – video sharing and online marketing to spread advertisement- Virtual Realities – stimulated environments where users select an avataro Many real businesses set up virtual storeso Example: virtual grocery stores in South Korea subway stations- Changing Behaviors of Consumerso Consumers want more, faster, and cheaper access to informationo Consumers are empowered to comparison shopo Marketers have less control- Challenges of Negative Digital Mediao Requires constant effort to stay on topo Hard to learn how to use new mediao Example: United Breaks Guitars song: has 15 million viewers and United’s stockfell 10%. Taylor Guitars response to video confirmed and supported, they also offered their services and took advantage of the opportunityIV. Digital Technology- Different types on Digital Technology Userso Creators: create their own, actively involvedo Critics: comment or post ratings and reviewso Collectors: pass things on, collect and organize contento Joiners: users of social networking siteso Spectators: read but done produce any informationo Inactives: Don’t participate at all- How does E-marketing effect…o Product considerations – You can get quick feedback, especially negative feedbacko Distribution considerations – online stores, amazon, etc. (people can be successful without even owning a physical store)o Promotion considerations – the United Breaks Guitars video was bad promotion for the companyo Price considerations – reduce costs by not having to own a physical store- Evaluating Marketing Campaign Successo Marketers should ask:1. Did it generate money?2. Did it generate interest in the business?a. Example: Blend Tec blenders online videos increased sales by 400% in consumer home markets3. Is the increase in demand significant?- Ethical and Legal Issueso Privacyo Online Fraudo Intellectual Property


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