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Creating a Winning E-Business Second Edition

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  1. Creating a Winning E-BusinessSecond Edition Marketing Your E-Business Chapter 6

  2. Learning Objectives • Describe the marketing mix • Explain the importance of branding • Describe primary and secondary market research • Create a marketing plan • Identify marketing tools

  3. 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) 3

  4. Marketing Creating Communicating Delivering Exchanging 4

  5. Marketing Customers (i.e., Stakeholders) include… Customers Clients Partners society at large 5

  6. Marketing Mix • Four Ps in the classical marketing mix • Product • Place • Price • Promotion

  7. Marketing Mix (continued)

  8. Marketing Mix (continued) • Marketing mix from customer’s viewpoint • Four Cs marketing mix model • Customer needs and wants • Convenience • Communication • Cost to customer

  9. Marketing Mix (continued)

  10. 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

  11. 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

  12. 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

  13. 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

  14. 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

  15. 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

  16. 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

  17. Building a Brand Oh, don’t forget the domain name (URL) 19

  18. 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 •, • May be too generic for successful branding

  19. 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

  20. Building Your Brand (continued)

  21. Building Your Brand (continued)

  22. 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

  23. Building Your Brand (continued)

  24. 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 •

  25. Building Your Brand (continued)

  26. Building Your Brand (continued) • Tying URL to business name can help build a brand • • • • • Some e-businesses use clever, made-up words for URL •

  27. 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

  28. 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

  29. 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

  30. 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

  31. Creating a Marketing Plan • Executive Summary section • Summarizes overall plan • One to three pages • Should be written last

  32. 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

  33. 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

  34. 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

  35. 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

  36. 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

  37. Marketing Tools

  38. 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

  39. 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

  40. 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

  41. Marketing Tools

  42. 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

  43. 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

  44. 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

  45. 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

  46. The 3R Framework 51

  47. 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. 52

  48. 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. 53

  49. Range Range is the degree to which a firm can offer its customers a value proposition containing a breadth of products/services. 54

  50. 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? 55