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PHASE 2 INDIVIDUAL PROJECT PART 2 KENNETH C HOLMES MKTG628-1601A-01 PROFESSOR ROY VIAR JANUARY 20, 2016 TARGET MARKETS AND THE FOUR P’S IN THE E-MARKETING PROCESS Introduction: The President of Medical Education Academy has requested information regarding how e-business identifies target customers based on e-marketing processes, examples of the differences between traditional and e-marketing research, and whether social media should be included. The following document discloses all research and findings. E-marketing and identifying target customers: E-marketing identifies target consumers with criteria including: Demographic research (age, income, lifestyle, race, gender, religion, location, and so on.) and analysis, psychographic research (what scents, flavors and tastes consumers like, how that scent or taste make them feel, and so on), and how the product or service provides a solution to a problem the consumer may or may not know they have; Performing market analysis, and researching market growth and trends; and through analysis of the competition’s strengths and weaknesses, and how their product or service compare to yours (N.A., The Marketing Strategy Process, 2014) E-marketing and the four P’s: Both traditional and e-marketing us the 4 P’s, product, price, place and promotion, and the difference is in how they are derived and applied. Starting with product: product includes tangible (food, clothing, personal care products, and so on.), and intangible products and services (home repair and installation services, computer services and online software, travel services, and so on.). Packaging is included because the right packaging can make a big difference regarding whether the consumer purchases or not. Additionally, product modifications come into play to make improvements, extend the lifecycle, and differentiate the product from competitors. With e-business, the intangible component is removed, because the website provides full disclosure about the products features and facts, and needs no sales person to sell it. This feature makes creating return customers easier, because of the transparency and easier customer service; Price is different, because competition has increased, and reduced overhead by eliminating store fronts, sales staff, and associated store costs. The result enables consumers to look for the best price among the many online retailers, to shop with 24/7 convenience, make payments online, and reward customers for frequent purchasing in ways brick and mortar cannot, and has forced physical stores to be more competitive. Consumers can also by direct from the manufacturer, avoid lines in stores, and only have to ensure excellent customer service, and fast and reliable delivery; Place, for e-marketing this means a domain (www.DesignsbyKen.com) and a website, or links that refer the customer to your website. With a website, the retailer only needs a warehouse, shipping and receiving personnel, and shipping equipment. Today, most physical businesses also provide a website, to provide convenience, and target the online consumer; Promotion, for traditional marketing this means print and broadcast formats, for e-marketing this means banner ads, email, social media, blogs, and stories or endorsements about a product or service on on-line news or the website home page (N.A., The 4 P's of e-marketing mix, 2016). Traditional VS E-marketing processes: Traditional and e-marketing use the same processes for research and advertising development, the only difference is in the application. For example: traditional marketing uses print (newspaper, magazines and fliers), broadcast media (TV and radio), and applies some emarketing to the mix to attract the online consumer including social media (Facebook, Twitter, You Tube, and so on.), as well as their own website for attracting the online consumer; Emarketing uses print (fliers and snail mail), broadcast media (TV and XM radio), mobile technology (PC’s, laptops, tablets and smart phones), social media, banner ads, email, and a multitude of entertainment, new, shopping and social interaction channels (N.A., Digital Marketing, 2015). An example of a company that uses the 4-p’s and the online marketing process successfully is Sammydress.com. They are an online family clothing retailer that specializes in quality clothing at cheap prices. Their market is the average consumer, that wants good value and quality on the cheap, and Sammydress delivers. For example, men’s apparel can cost as little as $9 for a dress shirt, $10 for a man’s backpack, $5 for a belt, $35 for a winter coat, and so on. The company is based out of China, and uses e-marketing to expand their target market to the entire world, instead of just the Chinese consumer, seriously expanding their revenue potential. For the record, they carry clothing and accessories for men, women, and children. Their sizes run small, so it is wise to order based on their size conversion chart, but their products are of good quality, and their selection is enormous (N.A., Sammydress home page, 2016). The social media option: Social media (Facebook, Twitter, I-Link, You Tube) is a must have for any advertiser. Both traditional and e-marketing apply this popular method for promoting their business, and many advertising services apply social media heavily to promote their client’s businesses with tremendous results. Social media provides: marketers with their very own online social presence and profile; marketers the benefit of differentiated media campaigns that create a tremendous online following and revenue; Creates a buzz about your media campaign and business, and draws the target consumer to your page with just a few key words: ensures interested consumers are directed to your business; can be used by any size business, company, organization, and any industry (entertainment, apparel, consulting, financial, restaurants and hotels, educational institutions, and so on); and will help any organization stand out against the competition. Social media will attract a global following, and can be the trigger to tremendous opportunity and growth, and all by typing a few key strokes (N.A., Why should you use TweetAngels?, 2015). REFERENCES N.A. (2014). The Marketing Strategy Process. Retrieved from Easy Marketing Strategies: www.easymarketing-strategies.com/marketing-strategy-process.html N.A. (2015). Digital Marketing. Retrieved from SAS: www.sas.com/en_us/insights/marketing/digitalmarketing.html N.A. (2015). Why should you use TweetAngels? Retrieved from Tweet Angels: www.twtangels.net N.A. (2016). Sammydress home page. Retrieved from Sammydress.com: www.sammydress.com N.A. (2016). The 4 P's of e-marketing mix. Retrieved from NEXTSBD.COM: www.nextsbd.com/imarketing/4ps-of-e-marketing-mix.php