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Digital Marketing Week 4 Online Marketing Mix Product Promotion E-marketing mix Marketing mix is the tools that are used to apply marketing strategy of the firm • Product • Price • Place • Promotion • Services: People, Process, Physical evidence 2 Digital Marketing Online Marketing Mix Product: Customer Solution The Google Story 10-4 • In 1998, co-founders Brin and Page delivered an innovative new search strategy that ranked results on popularity as well as keywords. • Today, Google performs 10 billion searches a month, speaks 100 languages and is the most-visited U.S. Web site. • Innovative products and strong customer focus are driving its success and profitability. The Google Story, cont. 10-5 • Generates revenue from several B2B markets: – Licensing of its search services. – Sales of advertising to Web advertisers. • Google pays close attention to user value, keeps costs low, and delivers eyeballs to advertisers. • Google’s product mix includes 15 search products, 3 advertising products, 21 applications, 5 enterprise products, and 4 mobile applications. – What types of products do you think Google will launch next? Many Products Capitalize on Internet Properties 10-6 • A product is a bundle of benefits that satisfies needs of organizations or consumers. – Includes tangible goods, services, ideas, people, and places. – Products such as search engines are unique to the internet while others simply use the internet as a new distribution channel. Let’s Discuss 10-7 • What other products can you name that are unique to the Internet? Many Products Capitalize on Internet Properties 10-8 • Organizations use research to determine what is important to customers when creating new products. • The marketing mix and CRM work together to produce relational and transactional outcomes with consumers. Creating Customer Value Online 10-9 • Customer value = benefits - costs • Product decisions must be made that deliver benefits to customers. – – – – Attributes Branding Support Services Labeling Product Benefits: Attributes 1010 • Attributes include overall quality and specific features. • Benefits are the same features from a user perspective. • The internet increases customer benefits in many ways. • Media, music, software, and other digital products can be presented on the Web. • Mass customization is possible. • User personalization of the shopping experience can be achieved. Let’s Discuss 1011 • What is the basic problem that PayPal is solving? • What are the specific features of PayPal? Product Benefits: Branding 1012 • A brand includes a name, symbol, or other information. – When a firm registers that information, it becomes a trademark. • A brand represents a promise or value proposition to its customers. Let’s Discuss • • • • What is the promise of Netflix? What is the promise of Google? What is the promise of Vodafone? What is the promise of Lego? 13 10-14 Branding Decisions for Web Products • Firms can use existing brand names or create new brands on the internet. • Some firms may use different names offline and online to avoid risk if the new product or channel should fail. – zara.com.tr vs. morhipo.com.tr – Sports Illustrated created thriveonline.com. – Wired Magazine changed its online version name to Hotwired. Creating New Brands for Internet Marketing 10-15 • Good brand names should: • Suggest something about the product. • ciceksepeti.com; booking.com • Differentiate the product from competitors. • PayPal.com • Be capable of legal protection. • On the internet, a good brand name should be • • • • short memorable easy to spell translate well into other languages. Branding on the Web - Internet Domain Names 10-16 • Picking the right domain name (Web adress) can make a huge difference. – Directing people correctly to a site. – Building consistency in marketing communications. More than 97% of words in the dictionary have already been registered as domain names. Product Benefits: Labeling 10-17 • Labeling has digital equivalents in the online world. – Online “labels” provide information about product usage, features, and installing software. – Online “labels” also provide extensive legal information about the software product. Customer Codesign 10-18 • Business and consumer collaboration are possible on the Internet. • Software developers often seek customer input about new products. – They often allow users to download new products, test them, and provide feedback. – Customer interaction has been found to increase product success. • Amazon seeks customers’ product reviews. • http://mystarbucksidea.force.com/ Digital Marketing Online Marketing Mix Promotion: Communicating the Online Value Will it Blend? • Blendtec supplies commercial blenders to Starbucks and others. • Blendtec produced a video in which the CEO blended unusual products such as a garden rake, iPad, and light bulbs. – The video, uploaded to YouTube, received 5.4 million views in an 8-month period. – The Will It Blend? Campaign illustrates the potential value of connecting with consumers through online advertising. Integrated Marketing Communication (IMC) • IMC is a cross-functional process for planning, executing, and monitoring brand communications. • The goal is to profitably acquire, retain, and grow customers. • E-marketers can enhance MarCom by using innovative technologies, such as e-mail, web pages, blogs, mobile devices, etc. 21 Marketing Communication Tools • Internet MarCom may include advertising, sales promotion, public relations, direct marketing, and personal selling. • MarCom consists of both planned and unplanned messages between firms and customers and among customers. • Unlock the 007 in you 22 IMC Goals and Strategies • The AIDA and “think, feel, do” (hierarchy of effects) models help guide selection of online and offline MarCom tools. • The models can help marketers select appropriate communication objectives and strategies. • Yemek sepeti TV ad 23 E-Marketing Tactics for Hierarchy of Effects Goals Internet Advertising • Advertising is nonpersonal communication about products or ideas paid for by an identified sponsor. • All paid space on a Web site or in an email is considered advertising. Internet Advertising Formats • Keyword search is the fastest growing and most important technique. • Display ads are the second largest. – Display ads include banners and many others. – Formats include rectangles, buttons, video and audio. 26 E-Mail Advertising • E-mail advertising is the least expensive type of online advertising. • Advertisers (such as Hotmail) can purchase space in another firm’s e-mail content. • E-mail newsletters are another type of e-mail advertising. Sponsorships • Sponsorships integrate editorial content and advertising. – Many firms want to build partnerships that provide useful content. – Sponsor disclosure is an important issue for emarketers. Mobile Advertising • Promising marketing communication techniques for mobile devices include: – Free mobile content delivery (marketing public relations). – Content-sponsored advertising. – Location marketing. – Short message services (SMS). Marketing Public Relations (MPR) • Public relations includes activities that influence public opinion and create goodwill. • MPR includes brand-related activities, such as online events, and nonpaid, third-party media coverage. – A Web site can serve as an electronic brochure. – Online events can draw traffic to a site. – Viral marketing and other techniques can help companies create buzz online. Sales Promotion Offers • Sales promotions are short-term incentives that facilitate the movement of products to the end user. – – – – Coupons Samples Contests, sweepstakes, and games Premiums (free or low cost gifts) • Marketers report 3-5 times higher response rates with online promotions than with direct mail. E-Mail • E-mail, used by 92% of internet users, is the internet’s killer application. – 94% of marketers invest in e-mail campaigns. • E-mail has many advantages: – Average cost is less than $0.01. – Immediacy and convenience. – E-mails can be automatically individualized. • E-mail also has disadvantages. – Consumer distaste for unsolicited e-mail or spam. – Effective lists are hard to obtain and maintain. Permission Marketing: Opt-in, Opt-out • When consumers opt-in, they are giving permission to receive e-mail about topics of interest to them. • Opt-in techniques are part of a bigger marketing strategy called permission marketing, “turning strangers into customers.” Viral Marketing • Viral marketing is the online equivalent of word of mouth marketing. – Hotmail is a viral marketing success story. – Burger King’s Subservient Chicken campaign drew 14 million visitors in the first year. Personal Selling • Personal selling involves real time conversation between a salesperson and customer, face-to-face, by telephone, or by computer. • Some companies provide real time sales assistance online. – Live chat feature. IMC Metrics • • • • • • • Traffic Sources Cost per click Click through rate Conversion rate Bounce rate Average time on site ROI