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Creating a Winning E-Business Second Edition. Marketing Your E-Business Chapter 6. Learning Objectives. Describe the marketing mix Explain the importance of branding Describe primary and secondary market research Create a marketing plan Identify marketing tools. Marketing.

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Creating a winning e business second edition l.jpg

Creating a Winning E-BusinessSecond Edition

Marketing Your E-Business

Chapter 6


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Learning Objectives

  • Describe the marketing mix

  • Explain the importance of branding

  • Describe primary and secondary market research

  • Create a marketing plan

  • Identify marketing tools


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Marketing

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large (American Marketing Association, January 2008)

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Marketing

Creating

Communicating

Delivering

Exchanging

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Marketing

Customers (i.e., Stakeholders) include…

Customers

Clients

Partners

society at large

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Marketing Mix

  • Four Ps in the classical marketing mix

    • Product

    • Place

    • Price

    • Promotion


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Marketing Mix (continued)


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Marketing Mix (continued)

  • Marketing mix from customer’s viewpoint

    • Four Cs marketing mix model

      • Customer needs and wants

      • Convenience

      • Communication

      • Cost to customer


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Marketing Mix (continued)


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Consumer Decision Making Process

  • 5 phases of the generic purchase decision model:

    • need identification

    • information search

    • evaluation of alternatives

    • purchase and delivery

    • after-purchase evaluation


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Web Advertising

  • Internet advertising terminology

    • ad views: The number of times users call up a page that has a banner on it during a specific time period; known as impressions or page views


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Web Advertising

  • Click (click-through or ad click): A count made each time a visitor clicks on an advertising banner to access the advertiser‘s Web site

  • CPM (cost per thousand impressions):The fee an advertiser pays for each 1,000 times a page with a banner ad is shown

  • Hit: Request for data from a Web page or file


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Web Advertising

  • Visit:A series of requests during one navigation of a Web site; a pause of request for a certain length of time ends a visit

  • Unique Visit:A count of the number of visitors to a site, regardless of how many pages are viewed per visit

  • StickinessCharacteristic that influences the average length of time a visitor stays in a site


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Building Your Brand

  • A brand

    • Incorporates customers’ perceptions of and experiences with a business

    • Combination of name, logo, and design that identifies a business’s products and services in consumers’ minds

    • Trusted brand can drive sales


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Building Your Brand (continued)

  • Define how you want products/services perceived by customers

    • Understand core elements of e-business

    • Differentiate core elements from competitors’ core elements

    • Identify how products/services meet customers’ needs

    • Decide how to convince customers that products/services best meet their needs


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Building Your Brand (continued)

  • Discover words, phrases, images to put best public “face” on business

  • Brand names

    • Simple

    • Easy to remember, spell, and understand

    • Have “snap”

    • May be a proper name or use personification

      • Coca Cola, Dell Corporation


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Building a Brand

Oh, don’t forget the domain name (URL)

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Building Your Brand (continued)

  • Domain name (URL) and branding

    • Address associated with a Web page

    • Can be used to help build a brand

    • Single- and common-word domain names largely already taken

      • Office.com, Business.com

      • May be too generic for successful branding


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Building Your Brand (continued)

  • Use creative “brainstorming” to develop brand name

    • Create list of words or phrases and combine them in creative ways

    • Ask for help from friends, family, advisors

  • Pay for professional help in developing brand name

    • The Namestormers, NameLab


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Building Your Brand (continued)


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Building Your Brand (continued)


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Building Your Brand (continued)

  • Domain name (URL) registration

    • Managed by ICANN for the U.S. Dept. of Commerce

    • Top-level domains identify the general category in which a domain name is registered


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Building Your Brand (continued)


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Building Your Brand (continued)

  • Domain name (URL) registration (continued)

    • ICANN contracts with accredited registrars

    • Accredited registrars process requests for new domain names

      • Network Solutions

      • GoDaddy

      • Register.com


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Building Your Brand (continued)


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Building Your Brand (continued)

  • Tying URL to business name can help build a brand

    • amazon.com

    • register.com

    • bn.com

    • ey.com

  • Some e-businesses use clever, made-up words for URL

    • google.com


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Building Your Brand (continued)

  • Brand names, domain names, trademarks are becoming more interchangeable

    • Make certain a URL does not infringe on the brand or trademark of an existing company


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Market Research

  • Collecting and analyzing data to make business decisions

    • Primary research

      • Uses quantitative or qualitative methods to physically collect and analyze data and then publish the results

    • Market research company examples

      • NPD Group

      • Forrester


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Market Research

  • Secondary research

    • Collects data from secondary sources who have already performed the primary research

    • Resources for secondary research

      • Reports published by market research companies

      • Industry white papers

      • Government databases

      • Trade associations

      • Professional journals


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Creating a Marketing Plan

  • Provides the details for the marketplace analysis section of a business plan

  • Plan elements

    • Executive Summary

    • Situational Analysis

    • Objectives, Strategies, and Tactics

    • Budget and Performance Measures


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Creating a Marketing Plan

  • Executive Summary section

    • Summarizes overall plan

    • One to three pages

    • Should be written last


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Creating a Marketing Plan

  • Situational Analysis section

    • Explains what is known about the marketplace

      • Market size

      • Market segments

      • Target market

      • Competition

      • Products and services overview


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Creating a Marketing Plan

  • Objectives, Strategies, and Tactics section

    • Objectives describe marketing mission

    • Strategies identify what is to be accomplished

    • Tactics detail how it will be done


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Creating a Marketing Plan

  • Budget and Performance Measures section

    • A budget estimates the cost of the plan

    • Performance measures evaluate the results of plan implementation


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Marketing Tools

  • Search tool submissions

    • Search engines use spiders to browse the Web and locate new pages to build indexes

    • Directories use human submissions of Web page information to build indexes

    • Most modern search tools use a combination of both means to build indexes

    • E-businesses can submit Web page information to multiple search tools


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Marketing Tools

  • Search engine optimization (SEO)

    • Build Web pages that are easy to index by search engines

      • Write clear and on-topic Web page text

      • Use descriptive page titles

      • Avoid frames and dynamic content

      • Use text navigation links

      • Arrange for relevant inbound links

      • Use meta tags


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Marketing Tools


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Marketing Tools

  • Online advertising

    • Banner and sidebar ad

      • Rectangular image

      • Linked to advertiser’s site

    • Pop-up or pop-under ads

      • Appear in own window above or below browser window

      • Linked to advertiser’s site


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Marketing Tools

  • Online advertising (continued)

    • Rich media ads

      • Interactive elements, Flash technologies, streaming media

      • Shoshkele and streaming media ads

  • Permission-based marketing

    • Opt-in e-mail or newsletters

    • Double opt-in process verifies recipient voluntarily receives messages


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Marketing Tools

  • Online advertising (continued)

    • Search tool or portal advertising

      • Featured placement at other Web sites

      • Pay-per-click search tool ads

        • Featured placement in search results lists

        • Featured placement on same page as search results list

        • Based on relevant search keywords

        • Yahoo!, Search Marketing, and goClick.com


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Marketing Tools


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Marketing Tools

  • Traditional advertising

    • Radio

    • TV

    • Print media

    • Outdoor advertising

    • Direct mail

  • Used together with online advertising to acquire new customers as inexpensively as possible


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Marketing Tools

  • Word of mouth

    • Electronic word of mouth exploits the network effect and viral marketing

    • Business blogs

      • Put a “human face” on a business

      • Way to keep tabs on what customers, potential customers, and competitors are thinking and saying

      • Provide valuable feedback on products and services


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Marketing Tools

  • RSS and Podcasting

    • Syndication of Web page content or audio using XML technologies

  • Affiliate programs

    • Arrangement in which an e-business pays a fee or commission when a customer clicks through from another site and makes a purchase


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Marketing Tools

  • Web rings

    • A group of similar e-businesses linked together in a circular “chain”

    • Visitor can click through from site to site in the chain

  • Awards

    • Can give a startup e-business more credibility in the marketplace


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The 3R Framework

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Reach

Reach is the degree to which a firm can manage its value chain activities to connect its customers to an accessible product/service offering.

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Richness

Richness is the degree to which a firm can facilitate the exchange of information to deliver products/services that match customers’ exact wants and needs.

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Range

Range is the degree to which a firm can offer its customers a value proposition containing a breadth of products/services.

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E-business strategic positioning along the reach dimension

key question: Is the product/service produced and distributed online or offline?

Digital products or services can overcome these limitations and radically extend reach.

Digital products exist when…

It exists in digital format

it is directly accessible on an interconnected, digital network

Why is the nature of the product, physical vs. digital, so important in impacting reach?

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E-business strategic positioning along the richness dimension

key question: Is the product/service pre-built or customizable?

Pre-built (supply-driven)

Customizable (demand-driven)

For customizable products, customers not only interact with companies at a very personal level, they can also dictate their exact desires

Why do you need to know your customers? Is customization dependent on consumer knowledge being held by the company?

Why is pre-built classified as supply-driven and customizable as being demand-driven?


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E-business strategic positioning along the range dimension

key question: Is the product/service offering within the value proposition narrow or broad?

Broad offering typically consists of a heterogeneous set of standardized or generic products and services that cross industry segments

Narrow offering typically consists of a homogeneous set of specialized or customized products and services that are more tightly focused


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Strategic Guidelines

Extend reach digitally

Enhance richness digitally

Expand range digitally

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Strategic Guidelines

In other words, max each of the R dimensions.

Is this really what every firm should do?

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Strategic Guidelines

Consider Woot

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The 5 Pillars of Social Media Marketing

  • Social Media Marketing tactics engage in one or more of the following

    • Declaration of Identity

    • Identity through Association

    • User-initiated Conversation

    • Provider-initiated Conversation

    • In-Person Interaction

Source: Andy Beal - http://www.marketingpilgrim.com


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The 5 Pillars of Social Media Marketing

  • Declaration of Identity: focus on identity-based interaction that shapes and defines the firm’s identity

    • LinkedIn

    • Ziki

    • ClaimID

    • SuperGlu

Source: Andy Beal - http://www.marketingpilgrim.com


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The 5 Pillars of Social Media Marketing

  • Identity through Association: Allowing customers to associate themselves with a firm using social media associations

    • Del.icio.us

    • Furl

    • Blummy

    • Ma.gnolia

    • StumbleUpon

    • BlinkList

Source: Andy Beal - http://www.marketingpilgrim.com


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The 5 Pillars of Social Media Marketing

  • User-initiated Conversation: Allowing customers to respond, shout out, and talk back to a firm or to others about a firm

    • Yahoo Groups

    • Google Groups

    • AOL Groups

    • MSN Groups

    • Topica EMail Lists

    • Kaboodle Groups

    • Eurekster

    • tribe.net

    • Ning

Source: Andy Beal - http://www.marketingpilgrim.com


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The 5 Pillars of Social Media Marketing

  • Provider-initiated Conversation: Allowing firms to seek out input from customers

    • User forums

    • Customer feedback forums

    • Social networks for focus groups

Source: Andy Beal - http://www.marketingpilgrim.com


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The 5 Pillars of Social Media Marketing

  • In-Person Interaction: Get down to face-to-face, over the phone, or synchronous interaction via text or email

    • Meetup

    • BarCamp

    • Evite

    • Upcoming

    • Eventful

Source: Andy Beal - http://www.marketingpilgrim.com


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Social Media Marketing Examples

  • FACEBOOK Applications

    • aerie by American Eagle

    • BlueNile Wishlist

    • Steep and Cheap

    • Zappos

    • Threadless

    • Threadless Plus

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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All Posters.com

erie by American Eagle

Apple Students

Champion Fan Zone

Chill with HP Canada

Contiki

Dell Spot

Half.com by Ebay

H&M

JanSport

Mark.Girl Cosmetics

I Took the Nike Zoom

Challenge

PINK by Victoria’s Secret

Reebok

SouthWest Airlines

Target

TicketMaster

Virgin Mobile

Walmart Roommate Style Match

Social Media Marketing Examples

FACEBOOK Sponsored Groups

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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I Want One of Those

CKIN2U Secondlife

Second Life Apple Store

Reebok

1-800-Flowers

IBM Repair Shop

Xerox

StyleHive(Social Shopping)

Phillips

Coca Cola Contest

Social Media Marketing Examples

SECOND LIFE E-STORES

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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1800Flowers

2K Sports

BlendTec

Bowflex

Buy.com

Helio

Home Shopping Network

IWOOT

MyTravel.com

Overstock.com

Quiksilver

RadioShack

Sam Ash Music

Sephora

ShopNBC

ThinkGeek

Tiger Direct

Zappos

Napster

Social Media Marketing Examples

YOUTUBE / VIDEO PODCASTS

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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Social Media Marketing Examples

  • ONLINE COMMUNITIES

    • Calvin Klein Meet friends and submit user generated videos (contest)

    • Weber Grills Audio & Video podcasts, interactive recipes

    • Threadless Rethreaded

    • Lucky Magazine

    • Yub.com (Buy.com’s Social Community)

    • Kashi

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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Social Media Marketing Examples

  • FLICKR MARKETING

    • EBTM t-shirts

    • NineTails Store

    • OwlMovement

  • FLICKR USER UPLOADED “FAN” PHOTOS

    • Chumby

    • Chumby Flickr Page

    • FullBleed

    • Tea and Crumpets

    • Threadless

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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Office Max Elf Yourself

Hanes Socks

SumoGlue.com

Career Builder

Guinness

Fruit of the Loom

Dial Soap for Men

I Can’t Believe It’s Not Butter (Starring Fabio)

HBO

HP ToyRama

GEICO

GLAD

Jockey

Pet Mustache (Burger King)

Rice Krispies

Dial Soap Manluge Game

Dial for Wussies

Wrigley’s Gum

UPS

Taco Bell

Social Media Marketing Examples

VIRAL MICROSITES

Linda Bustos, 110 Ways Retailers are Using Social Media Marketing, http://www.getelastic.com/social-media-examples/


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Chapter Summary

  • Marketing is the process of developing mutually satisfying relationships with customers

  • Classic marketing mix model consists of the Four Ps: product, place, promotion, and price

  • A brand is a name or logo that identifies a product or service in consumers’ minds

  • A domain name (URL) can be a tool for building a brand


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Chapter Summary(continued)

  • Market research involves collecting and analyzing data using primary or secondary research

  • A marketing plan provides details for the marketplace analysis portion of a business plan

    • Executive Summary

    • Situational Analysis

    • Objectives, Strategies, Tactics

    • Budget and Performance Measures


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Chapter Summary(continued)

  • Online marketing tools

    • Search engine optimization (SEO)

    • Online ads and opt-in e-mail/newsletters

    • Search tool and portal advertising

    • Link exchanges and online forums

    • Business blogs, RSS feeds, affiliate programs

    • Web rings

  • Traditional marketing tools

    • Radio, TV, print ads, public relations


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