Comstrat 380 1nd Edition Lecture 20 Outline of Last Lecture I. Broadcast media characteristicsII. Who’s listeningIII. The structure of the radio industryIV. Radio basics V. Radio ad spendingVI. Television basicsVII. Television Format ConsiderationsOutline of Current Lecture I. Internet MarketingII. What are the functions of internet marcomIII. Social media toolsIV. Types of online marketing communicationV. E-mail marketingVI. Viral marketingVII. Why is the internet advertising growing so fast?VIII. E-media developments and applicationsIX. Issues in Internet AdvertisingCurrent LectureI. Internet Marketinga. The internet has created new ways to do businessb. Many companies sell products online, particularly to the B2B marketc. These companies exist only as online businesses. They are internet brandsThese 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.d. Consider i. Amazon.comii. EBayiii. ITunes1. Revision3- internet TV networkII. What are the functions of Internet Marcoma. E-business or e-commercei. Business use it to sell products, manage their operationsb. The information rolei. Included online publishing, encyclopediasii. Wikipedia- shopwiki- wikitraveliii. Reader- generated contentc. The entertainment rolei. Included games, fashion, music, videos, YouTub,d. The social rolei. Allows users to express themselves, interact with friends, and publish their own content e. The word-of-mouth rolei. Creates a dialogue with customersii. Stimulates conversation between customers and potential customersiii. “the power of friendship based influence”III. Social media toolsa. Social media strategiesi. Search ads combines with social media campaigns generate the highest-level resultsii. Mareters who use social media recognize the value in conversations and customer relationship building communication IV. Types of online marketing communicationa. Websitesi. The online face a company presents to the publicii. Websites blur the distinction between advertising, direct marketing and public relationsiii. Stickiness: the degree to which a website encourages visitors to “stick around”iv. Navigation: the ease with which users can locate and move through your website V. E-mail Marketinga. Very inexpensive form of advertisingb. Spending in US $1.51 billion in 2011c. Will grow to $2.468 billion by 2016d. Subscribers opt-in (permission marketing)VI. Viral Marketinga. Uses e-mail and social media to circulate a message among family and friendsVII. Why is the Internet Advertising growing so fast?a. Internet ad sales: It’s complicatedi. In 2011 the market for online display ads was estimated at $31 billion per year (grew 26% in 2013)ii. Multiple formats have forced advertisers to struggle to find the best platformsiii. The lack of standardization have raised agencies production costs as they try to adapt to new formatsiv. Selling online advertising space is complicated. Rates and services vary widelyv. The internet combines the best aspect of traditional media:1. Motion and audio2. Interactivity3. Depth of informationvi. And often at a much lower cost than traditional media vii. Most forms of online advertising weathered the recent recession better than traditional advertising forms VIII. E-media Developments and Applicationsa. Using the internet across boardersi. With its global reach, the internet offers real strength to global marketersii. However, challenges and barriers are related to:1. Access2. Legal issues3. Language4. Currency5. Technologyiii. Marketers must also remember the technological differences among worldwide internet usesIX. Issues in Internet Advertisinga. Measurementi. Feedback is rapid, but with no standards for measurementii. Hits, viewers, unique viewers, and page views don’t offer insight about motivation or