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MMRK 702 ELECTRONIC (E) - MARKETING STRATEGY August –December 2008 semester This module will be offered at: TELONE The lecturing team responsible for this module will be: Mr T.Chitura Syndicate 3 (STC) Phone: +26311 643 916 Email: [email protected] 1 Introduction to the unit Increasing use of the Internet, by both businesses and consumers, is having a profound effect upon commerce worldwide, and, as part of this process, many argue that the field of marketing has been irrevocably transformed. Marketing theorists and practitioners are beginning to recognize the need to revise traditional practices and, where necessary, to modify previously established principles of marketing. This is opening up a dynamic new area of marketing and the challenge for contemporary marketers is to understand emerging impacts upon theory and their associated practical implications. The aim of this unit is therefore to assist students in understanding the forces which underlie the Internet revolution, in business generally and in marketing specifically, and to equip them with a framework which will enhance their capacity to secure competitive advantage in a constantly changing environment. Throughout, the unit emphasizes the cross-professional nature of Internet marketing and the need to involve specialists from the fields of marketing, design and information technology. As a marketing unit, the focus is upon the impact of the Internet with regard to marketing theory and practice rather than the technical programming and design aspects of associated information systems. Module learning outcomes Upon completion of this course, the students are expected to: Discuss the function and definition of e-marketing Apply the elements of e-marketing in real life situations Draw up an e-marketing Plan Interpret customer-buying behavior within a web environment. Conduct extensive market research and apply it to a major research project Develop an understanding of designing digital marketing strategies Online Develop an understanding of e-customer relationship Management (e-CRM) techniques Develop an understanding of online product, positioning, pricing, distribution and promotions. Define and explain the concepts and tools required to build and maintain an effective e-business presence Apply and evaluate the stages involved in developing an e-marketing strategy (e.g. marketing mix, e-CRM, e-customer experience, online marketing research, interface design, metrics) Appreciate the opportunities and challenges of electronic media, and particularly the Internet, as marketing communications and marketing research vehicles Apply and develop practical skills (e.g. group work, oral and written communication) to facilitate interventions in decision-making situations Method of Learning and Teaching: The module is taught via lectures, which discuss the key conceptual and strategic issues in e-marketing. These ideas will be put into practice in the group-work. Students will be expected to prepare for lectures through identified readings, case studies, and exercises. 2 Each of the lecture topics are key foundation areas within electronic marketing. These are supported by the identified chapters from the essential text in addition to selected readings provided with the lecture notes. Students are expected to have read the relevant material prior to the lectures to ensure all the learning outcomes detailed above are met. Weeks 15-17 adapt the core marketing mix (4Ps) strategy to the e-business context. Weeks 18-19 focus on the role of the customer, i.e. building relationships and compelling experiences. Weeks 20-23 focus on planning, implementation tactics, and evaluation of the e-marketing strategy. Texts: Essential reading rd Strauss, Judy; Ansary, A. & Frost, R. 2003. E- Marketing-3 Edition. Pearson Education, New Jersey. Background Reading The publications listed below are highly recommended for further reading on the topics covered in the unit. Books Journals and Periodicals Apart from books, you will find it valuable to get into the practice of reading relevant articles from journals and periodicals (including newspapers and magazines). As yet, there are few peer-reviewed journals printed specifically for the area of electronic marketing. Rather, material may be sourced from more general peer-reviewed academic journals, or from online journals, some of which have a less rigorous process of review. Specific Peer—Reviewed Academic Journals Journal of Interactive Marketing Electronic Markets General Peer—Reviewed Academic Journals Journal of the Academy of Marketing Science Journal of Marketing Research Journal of Marketing Management International Journal of Information Management International Journal of Electronic Commerce Sloan Management Review Harvard Business Review Magazines, Newspapers and other Online Sources 3 American Marketing Association: www.marketingpower.com E-Marketer (www.emarketer.com) B&T Weekly (Incorporating Professional Marketer) (www.bant.com.au) Business Review Weekly (www.brw.com.au) Sydney Morning Herald (www.smh.com.au) Australian Financial Review (www.fairfax.com.au) Forrester Research (www.forrester.com) Jupiter (www.jup.com) Gartner Group (www.gartner.com) Media Metrix (www.mediametrix.com) Method of Assessment Method of Assessment: The module will be assessed by two pieces of group coursework (30%) and a three-hour exam (70%). Examination format The exam is in closed book format comprising a compulsory case study and three essay questions of your choice. The case study evaluates the student’s ability to critically analyse an e-marketing problem and apply their critique to a practical situation. In section B, students will choose three questions from a list of specialist issue questions. These questions will assess students’ knowledge and comprehension of the module. Coursework The coursework comprises a group presentation and a group assignment (i.e. report). The group work will be evaluated by the lecturer. Submission of Coursework Lodging Coursework Remember that you are responsible for lodging your written Coursework on or before the due date. I suggest you keep a copy—photocopying is ideal. Even in the most ‘perfect’ of systems, items sometimes go astray. Note that you may also be required to submit an electronic copy of your written Coursework. All coursework must be handed in before the due date. Return of Coursework Coursework will be returned during classes or it can be collected from the lecturer’s or room at nominated times. Plagiarism Plagiarism is a form of cheating. It is taking and using someone else’s thoughts, writings or inventions and representing them as your own, for example: 4 • using an author’s words without putting them in quotation marks and citing the source; • using an author’s ideas without proper acknowledgment and citation; or • copying another student’s work. If you have any doubts about how to refer to the work of others in your assignments, please consult your lecturer for relevant referencing guidelines. The intentional copying of someone else’s work as one’s own is a serious office punishable by penalties that may range from a fine or deduction/cancellation of marks and, in the most serious of cases, to exclusion from a unit, a course or the University. Plagiarism can be a difficult concept to define; however, simply put, plagiarism is using other people’s ideas and words without clearly acknowledging the source of that information. It is important to note that in college we are continually exposed to other’s ideas. We read ideas and words in textbooks, hear them in lectures, discuss them in class, and incorporate them into own writing. One must always keep in mind that you must give credit when credit is due. In order to avoid plagiarism, you must give credit whenever you use: Another person’s idea, opinion, or theory; Any facts, statistics, graphs, visual images (i.e.: drawings, videos, etc.) that are not common knowledge; Quotations of another person’s spoken or written words; or Paraphrase of another’s person’s spoken or written words. Tutorial Program Define e-business and e-marketing What are performance metrics and why are they important? How does technology both raise and lower costs for companies? What are some of the marketing implications of Internet Technologies? How does e-business strategy relate to strategy on the corporate level? Define e-marketing strategy and explain how it is used? How does an e-business model differ from a physical (analogous) model? What is Customer Relationship Management (CRM) and why do companies create strategies in this area? What are the six steps in e-marketing plan? What is the purpose of an e-marketing objective-strategy matrix? How and why do e-marketers use database-marketing technologies? What is content filtering and why is it important to some Internet users? What are the three main vehicles for advertising on the Internet? 5 What are some ways of companies are using the Internet for marketing public relations, sales promotions, and direct marketing? What are the strengths and weaknesses of the Web as an advertising medium? What is Competitive Intelligence and what are some of Online CI data? How do marketers turn marketing data into marketing knowledge? How can e-marketers facilitate Internet Exchange? What are the five main categories of outcomes sought by Internet Users? What is CRM and what are main benefits of e-CRM? What are the seven building blocks of CRM? What is Supply Chain Management and what are the advantages of CRMSCM integration? Explain how data mining, real-time profiling, collaborative filtering, and outgoing e-mail help firms customize offerings? Why do e-marketers need to measure attitude toward technology? What measures are available? Why would an e-marketer want to create or nurture a Web site for building a community? How might an online company react if a rival embarks on competitor positioning in an unflattering way? What are the arguments for and against using existing brand names on the Web? What is price transparency and why is it an important concept for emarketers to understand? List the main factors that put downward pressure on prices in the Internet channel? How does the value of distribution channel functions change when they become Internet based? Assignment Topics Assignment 1: Assignment 2 6 MODULE CONTENT/TOPICAL OUTLINE: TOPIC WEEK Week 1 Week 2 Week 3 Week 4 TOPICS Introduction marketing DESCRIPTION OF CONTENT to e- Explain how the Internet and information technology advances offer benefits and challenges to consumers, businesses, marketers, governments, and societies; distinguish between e-business and emarketing; identify important legal and technological factors that affect e-marketing; describe the composition of the Internet and the use of intranets, extranets, and the Web; outline characteristics of the three major markets for ebusiness; complete in-class marketing applications exercises. What Is Online Advertising? Online Advertising 'Traditional' online ads - Banners, Buttons and Pop-Ups Rich Media advertising Pricing Models & Delivery Options Targeting On line marketing Identify three main sources of data that e-marketers use to address research problems; discuss quality of research research data gathered online; explain why the Internet is used as a contact method for primary research and describe the main Internet-based approaches to primary research; contrast clientside, server-side, and real-space approaches to data collection; highlight four important methods of analysis that e-marketers can apply to information in the data warehouse; complete in-class marketing applications exercises. Discuss general statistics about the Internet Consumer Behavior population; identify the social, cultural, technological, legal, and political issues that explain why people do not use the Internet; describe the Internet exchange process; outline the broad individual characteristics and consumer resources that consumers bring to the online exchange; highlight the five main categories of outcomes that consumers seek from online exchanges; complete in-class marketing applications exercises. 7 Week 5 E-marketing strategy Product and Branding Pricing and Distribution Integrated Marketing Communications Week 6 e-Customer Relationship Management Week 7 Global Perspective Week 8 The E-Marketing Plan Explain why and how marketers use market segmentation to reach online customers; list the most commonly used market segmentation bases and variables; outline five types of usage segments and their characteristics; discuss the role of occasionalization in Internet marketing; describe the four coverage strategies e-marketers can use to target online customers; define differentiation and positioning; identify six important Internet-specific differentiation strategies; define product and describe how it contributes to customer value; identify the six categories of new-product strategies; highlight some of the important newproduct trends that create digital value; identify the main fixed and dynamic pricing strategies used for selling online; examine how Internet technology is influencing pricing strategies; understand the Internet as a distribution channel; identify online channel members and analyze their functions; discuss how marketers use the Internet for advertising, marketing, public relations, sales promotions, and direct marketing; complete in-class marketing applications exercises. Review the purpose and process of building a company’s customer relationship capital through customer relationship management (CRM); complete in-class marketing applications exercises. Examine unique challenges and opportunities facing e-marketers that target or operate within countries with emerging economies; gain an understanding of the main country-by-country differences in Internet access, usage, and shopping as a foundation for segmenting and targeting specific markets; complete in-class marketing applications exercises. Discuss the nature and importance of the emarketing plan and outline its six steps; describe tier 1 and tier 2 tasks; show the form of e-marketing objectives and highlight the use of an objectivestrategy matrix; complete in-class marketing applications exercises. 8