Tuesday, December 31, 2019
Describe the Important Internet Properties That Affect...
Describe the important Internet properties that affect marketing and the fundamental changes the Internet has brought to marketing. According to Strauss and Frost (2009), the Internet properties have affected the way marketing should be done and delivered to the consumers. Internet data is sent in bits and not in atoms ââ¬â all the data and information are being stored and sent to the consumers in digital form. The digital form cannot be touch, tasted or smelled. In contrast to other types of marketing, the seller does not need to deliver the items itself for inspection by the consumer before it is being purchased. 1. Internet is a mediating technology ââ¬â anywhere in the world, music and other data is being passed on and shared. Thisâ⬠¦show more contentâ⬠¦Marketers have practically lost control of brand images due to blogs, online bulletin boards, and other online communication, and must consistently underpromise and over deliver. Other changes: Market fragmentation. The Internet put finality to this trend by extending to its ultimateââ¬âa market size of one customerââ¬âand prompted marketers to create products and communication to small target groups. Death of distance. Geographic location is no longer a factor when collaborating with business partners, supply chain firms, or customers, or just chatting with friends. Time compression. Time is not a factor with Internet communication between firms and their stakeholders. Online stores can be open 24/7; people can communicate as their schedules permit; times zones disappear for managers collaborating with partners on other continents. Critical knowledge management. In the digital world, customer information is easy and inexpensive to gather, store, and analyze. Managers can track marketing results as plans are implemented, receiving play-by-play reports. However, turning huge databases into meaningful knowledge to guide strategic decisions is a major challenge. Interdisciplinary focus. Marketers must understand technology to harness itsShow MoreRelatedMarketing and Internet5330 Words à |à 22 PagesChapter 1: Convergence Learning Objectives (PPT 1-2, 1-3) What is E-Marketing? E-Marketing is the use of information technology in the processes of creating, communicating, and delivering value to customers, and for managing customer relationships in ways that benefit the organization and its stakeholders. How Does E-Marketing Relate to E-Business? E-business is the continuous optimization of a firmââ¬â¢s business activities through digital technology (allows the storage and transmissionRead MoreImpact Of Digital Marketing On E Commerce9734 Words à |à 39 PagesPROJECT REPORT ON ââ¬Å"IMPACT OF DIGITAL MARKETING OR E-COMMERCE IN CURRENT BUSINESS SCENARIOâ⬠(A CASE STUDY OF TATA CONSULTANCY SERVICES) SUBMITTED BY ANKUR NARANG ENROLLMENT NO.: 1321000782 UNDER SUPERVISION OF MR. 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