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Chapter 1: Integrated Internet Marketing Communication (IIMC). Payam Hanafizadeh and Mehdi Behboudi http :// www.igi-global.com/book/online-advertising-promotion/60769. What is Marketing ?. Marketing is a process that has different meanings for different people :

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Presentation Transcript
slide1

Chapter 1:

  • Integrated Internet Marketing Communication (IIMC)
slide2

Payam Hanafizadeh and Mehdi Behboudi

http://www.igi-global.com/book/online-advertising-promotion/60769

slide3

What is Marketing?

  • Marketing is a process that has different meanings for different people:
  • Some may consider marketing as merely a TOOL to improve sales, because their goal is to deplete product surplus.
  • For others, marketing may be viewed as nothing more than PLEASANT WORDS designed to attract audiences.
  • It may also be defined as a means to identifying Latent demands.
slide4

What is Marketing?

According to Kotler's definition, "Marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering and exchanging products and services of value freely with others" (Kotler, 2001a, p. 4).

http://www.benchmarkemail.com/

slide5

Marketing and Development

According to Klein and Nason (2001), the term "development"can be defined as "expanded economic opportunities and improved outcomes in domestic and/or export markets, employment, standard of living, and social conditions commonly included under the concept of quality of life (access to and quality of health care, education, cultural opportunities and civic freedom and harmony)" (p. 263).

http://edl-inc.com/

slide6

Marketing and Development

  • According to a general principle, development of new businesses may increasethegovernment's income due to the increase in the amount of taxes (Wood, 2004).

http://www.aboutdci.com/

slide7

Marketing and Development

The main question then becomes: how can marketing, and especially online marketing, contribute to this goal?

Through identification of potential demands, marketing allows aproductorserviceto be presented concordant with asegment's demands.The fully customized product/service is delivered to the customer byimplementing strategiesdeveloped form the combination of4p(product, price, place, and promotion).

slide8

Latent Demand

A latent demand refers to a part of the market with a need not yet satisfied by a physical product or solution.

By recognizing these demands, marketers persuade customers to accept their products, and these vague desires which stem from a latent demand are converted to active demands.

http://blogs.hbr.org/cs/2013/01/is_latent_demand_netflixs_secr.html

slide9

Latent Demand

Thus, marketersdo not createNEEDS; they identify the NEEDS, give it a name and provide the customer with a satisfier.

Through converting latent demands to active ones, marketing plays a significant role in increasing the variety of national products and creating new competitive potential.

http://blogs.hbr.org/cs/2012/08/pig_wings_creating_demand_in_a.html

slide10

Product: A New Role

The term "product" is anyone or anything that contributes to world development.

This is somewhat in fight with Kotler and Armstrong (2001)’s definition: "a product is anything that can be offered to a market to satisfy a demand" (p. 7).

http://www.google.com/shopping

slide11

Product: A New Role

Through developing the concept of product, marketingpresents a new viewpoint for manufacturers.

http://www.adobe.com/products/catalog.html

slide12

Product: A New Role

The principle of aligning services/products with target customers' demands has incentivized companies to develop new production lines. Producersmay applyvarious methods todevelop a product.

http://www.joinred.com/

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Product: A New Role

However, marketing also incorporatesstrategiesfor companies that cannotaffordto develop a variety of productionlines. Theproper strategy for these brands is to increasethedemandfor their products' appeals.

http://www.mathsisfun.com/definitions/product.html

slide14

Segmentation and the Online Environment

By introducing the concept of segmentation, marketing can identifyeach segment anddeterminetheright segment foreach company.The right segment of the market includes that part of the market to which a company should offer its services using all its capacities.

http://hstalks.com/main/view_talk.php?t=823&r=274&j=765&c=250

slide15

Segmentation and the Online Environment

Some elements of market segmentation include:

1

Geographic (region, density, and climate)

  • Demographic (age, family size, gender, income, occupation, education, race, social class)

2

3

  • Psychological (lifestyle and personality)

Behavioral (occasions, benefits, user status, usage rate, loyalty status, readiness stage, and attitude toward product) (Kotler, 2001, p.149).

4

slide16

Electronic Marketplace and Online Marketing

According to the definition of Kotler et al.(2005), a market is the set of actual and potential buyers of a product.These buyers share a particular need or want that can be satisfied through exchanges and relationships.

slide17

Electronic Marketplace and Online Marketing

Marketplaces have three tasks to fulfill:

  • Coordinating buyers and introduing them.
  • Providing the facilities required for exchanging data, goods, services and payments based on the common transactions.
  • Providing the legal frameworks and infrastructures required for individuals and organizations to attend the market more effectively (Zwass, 2003).

http://www.epiqtech.com/e-marketplaces.htm

slide18

Electronic Marketplace and Online Marketing

Through foreign direct buying, online marketing provides domestic businesses with an economic development boost with benefits such as:

  • Changes in goods and elimination of physical product
  • Global access
  • Decreasing the size of the space for production
  • Online delivering and elimination of transportation costs
  • Improvement of buying power
slide19

Electronic Marketplace and Online Marketing

According to Yarom, Goldman, and Rosenschein (2003) and Turban et al. (2006), electronic intermediates eliminate the five following limitations that exist in virtual markets:

  • Information-seeking expenses
  • Security
  • Completion of incomplete information
  • Transaction risk
  • Customer's inability to find the right price
slide20

Multi-channel strategy

  • Multi-channel marketing is divided into three parts (Duffy, 2004):
  • Search term marketing
  • Shopping portals
  • Affiliated marketing

http://www.marketingpower.com/Calendar/Pages/2013-ts-multichannel-marketing-strategy-chicago.aspx

slide21

Multi-channel strategy

According to a study conducted by Teltzrow and Kobsa (2004), customers tend to rely on websites that have a number of actual brick-and-mortar stores.

Previous studies revealed that this behavior is due to three factors:

  • Information intermediate
  • Guarantee
  • reputation(Chellappa, 2000).

http://www.retail-week.com/multichannel/choosing-the-right-multichannel-strategy/5036574.article

slide22

Multi-channel strategy

The customer will acquiesce to buy if it is confirmed that:

1.the website in question is well known.

2.an information intermediate is involved in the transaction that will be responsible if the customer's demand is not satisfied.

3. there is a guarantee for the transaction.

http://www.quantium.com.au/multi-channel-strategy

slide23

Competition in a Digital Economy

Businesses must select their competition strategy taking the four following strategies into account:

  • developing new business models
  • Offering differentiated products
  • Customer-oriented
  • Retrenchment

http://www.nottingham.ac.uk/graduateschool/young-entrepreneur-schemes/digital-economy-yes.aspx

slide24

Online Negotiations

Previously, communication systems operated on analog information;however,most systems today operate within digital systems. Digital systems are based on bytesorstreamsof zeros and ones whioch allow the new medium to display image,dataandvideos.

slide25

Online Negotiations

  • A connection is required to allow these digital systems to exchange data. Therefore, Internet,intranet,extranetandnetworkshave been developed to redefine communication. Due to the progress made in this domain, "negotiation"as a buying approach has taken a new from.

http://www.pon.harvard.edu/daily/meeting-facilitation-daily/the-challenges-of-online-negotiations/

slide26

Integrated Marketing Communication (IMC)

Integrated marketing communication is such a challenge that many studies and tools have been used to increase its efficiency, some of which include advertising, promotion, personal selling, public relations and direct marketing (Kotler, 2001, p. 272).

http://www.emerson.edu/academics/departments/marketing-communication/graduate-degrees/integrated-marketing-communication

slide27

Integrated Marketing Communication (IMC)

The importance of IMC planning is emphasized by dynamic streams of various marketing areas including market segmentation, relationship marketing and direct marketing (Durking & Lawlor, 2001).

http://www.imcanz.com.au/

slide28

Integrated Internet Marketing Communication (IIMC)

  • The methods for integrated Internet marketing communication are as follows:

Advertising

  • Online Direct Marketing

http://www.ingentaconnect.com/content/westburn/tmr/2008/00000008/00000003/art00003

slide29

Integrated Internet Marketing Communication (IIMC)

Public relations

  • Personal selling
  • There are four other main issues in unified Internet marketing communications:
  • Sales promotion
  • Web-sites
slide30

Integrated Internet Marketing Communication (IIMC)

The Funnel Model of IIMC

Direct Online Marketing

user

user

user

Online Advertising

Personal Selling

user

user

Advertiser Website

user

user

user

user

Promotion

Public Relations

user

slide31

http://www.marketingweek.co.uk/

http://www.studioskylab.com/

The End Of Chapter 1

http://www.marketingpower.com/Pages/default.aspx