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Welcome to Internet Marketing! “The journey is the reward” BUSIP Program – 31 May 05 Fred Pursell Do you know your Internet marketing trivia? What is the meaning of ‘I18N?’ Do you know your global marketing trivia? What share of the world’s population has English as its native language? Top 10 spoken languages Language Native Speakers Population Share Mandarin Chinese 885 m 14.9% English 322 m 5.4 % Spanish 266 m 4.5% Bengali 189 m 3.2% Hindi 182 m 3.1% Portuguese 170 m 2.9% Russian 170 m 2.9% Japanese 125 m 2.1% German 98 m 1.6% Wu Chinese 77 m 1.3% Source: National Geographic Internet marketing learning objectives Explore how the Web is being used to build brands and customer relationships. Examine online promotional strategies and tactics, what’s working and why or why not. Evaluate ways to integrate Internet marketing with traditional marketing vehicles. Marketing planning is critical to success By failing to plan, you’re planning to fail. The customer is king Marketing is all about understanding the customer. Content is king? Customer-focused Web content is useful, timely, and relevant – as defined by the user. User-centric Web design is king The promise of the Internet is user control. Topics for today’s class Revisiting the 4P’s of marketing; trends and lessons in B2C and B2B e-commerce Incorporating Web-based resources in hybrid and multi-channel marketing systems Promotional strategies and tactics, and best practices for Internet marketing Amazon.com case study discussion Four P’s of marketing 1)Product 2)Promotion 3)Place 4)Pricing Typical sales cycle phases Customer View INFORMATION EVALUATION PURCHASE DELIVERY SUPPORT DELIVERY SUPPORT Vendor View DEMAND PRE-SALES SALES Market development and customer support Sales Cycle Phases and Activites DEMAND CREATION advertising specials launches partnering articles SALES DEVELOPMENT solutions PRODUCT PURCHASE DELIVERY INSTALLATION ONGOING SERVICES configuration set-up customer care ordering help FAQs e-tools education specifications ideas images tips updates cross selling customization support payment techniques news confirmation integration maintenance Managing hybrid marketing systems Hybrid marketing = using the most effective combination of internal and external resources to perform activities across the sales cycle. Harvard Business Review Nov-Dec, 1990 Resources engaged in promotional activities Internal Resources Marcoms PR Advertising Programs Direct Mail Groups Telesales Direct Sales Web presence Support Centers Financing Consultants System Engineers External Resources Distributors VARs Systems Integrators Corporate Resellers Dealers Retailers Mass Merchants Service Providers ISVs OEMs Promotional vehicles Advertising Personal selling Public relations Sales promotion Direct marketing Trade shows Promotional mix strategies Pull Strategy = spending focused on advertising and consumer spending to build up and pull consumer demand. Push Strategy = spending focused on using the sales force and trade promotion to push the product through the channels. Hybrid marketing example INFO Public Relations Advertising Direct Mail Telesales Direct Sales Internet Support Centers Distributors VARs/Integrators Dealers Retail ISVs OEMs EVAL PURCHASE DELIVERY SUPPORT Internet promotional tactics Online advertising techniques; banner ads, popups, animation, rich media, content e-marketing programs; email, e-newsletters, Webcasts, communities, search engines e-partnering programs; strategies and tactics for leveraging online business partners Integrating online promotional techniques with traditional marketing activities Managing promotion Planning Identify target audience Specify objectives Define performance metrics Establish the budget Select promotional tactics Design promotion Schedule promotion Implementation Control Pre-test promotion Execute promotion Audit effectiveness Measure results Evaluate ROI Post-test the promotion Make needed changes Manage processes Communicate results Determinants – promotional mix strategy/tactics Target audience Product life cycle Product characteristics Phase of the sales cycle Channel strategy Forward integration to the customer Disintermediation = a trend involving product and service producers by-passing intermediaries and going directly to final buyers, or engaging with new and emerging types of channel intermediaries that are displacing traditional players. Why people use the Internet Web-user Needs Objectives Benefits Value Content Convenience Information Collaboration Ease of use Resources Commerce Efficiency Tools How people use the Internet Web-user Behavior LIFESTYLE Task-focused product searches Interaction-directed resource searches commerce Enrichment-based learning searches community content Keys to online marketing Permission-based marketing Personalization Purchasing process automation User-centered design Value-added content Affinity programs Web metrics Integrated marketing communications Amazon case study discussion 1)How is Amazon using technology to innovate and deliver new value to consumers? 2)What can you conclude about Amazon’s target audience and market segmentation? 3)What sales processes are automated through online information, resources, and tools? Thank you everyone! It’s great having you in my class.