Internet Marketing: Understanding and Utilizing Online Strategies
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This document provides a comprehensive guide to internet marketing, including the elements of internet marketing, evaluation of the internet marketing mix, comparison of internet marketing tools, and more. It is perfect for students studying internet marketing.
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INTERNET MARKETING1 INTERNET MARKETING Name Course College Date
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INTERNET MARKETING2 Table of Contents Introduction.................................................................................................................................................2 Task 1 and 2................................................................................................................................................2 1. Understanding marketing through the internet.........................................................................................2 1.1 Explanation of the elements of internet marketing...........................................................................2 1.2 Evaluation of the internet marketing mix..........................................................................................3 1.3 Comparison of the internet marketing tools.....................................................................................4 1.4 Examination of the interactive order processing...............................................................................5 2.1 Demonstration of the mechanics of search engine marketing..........................................................5 2.2 Write the copy for a suitable opt-in email marketing newsletter for Smart Restorations Limited....6 2.3 Online public relations using the appropriate guidelines for best practices......................................7 2.4 Showing how a business can utilize emerging digital media communities. Example File sharing sites.........................................................................................................................................................8 Task 3 and 4................................................................................................................................................8 3. Support for the management of customer relationships through appropriate market research.................8 3.1 The necessary secondary market research........................................................................................8 3.2 Design of online survey for Smart Restorations Limited....................................................................9 3.3 Demonstrating the application of electronic customer relationship marketing..............................12 4. The formulation of the company internet marketing plan......................................................................13 4.1 The demonstration of the outline showing the internet marketing plan........................................13 Conclusion.................................................................................................................................................15 References.................................................................................................................................................15
INTERNET MARKETING3 Introduction The emergence of globalization has led to the development of internet marketing as the most efficient method used by organizations in communication with a specific segment of consumers. Internet marketing has been used for the efficient transmission of a promotional message from the firm to the consumer market. Emails, social media and search engine are some of the tools of internet marketing used. The important of internet marketing entails its efficiency in the realization of the proposed marketing objectives. This efficiency is arrived at since it gets to a wider customer base target. In this case, Smart Restorations Limited which is an office furniture refurbishing company will be used. The company has implemented some internet marketing strategies used in the achievement of company objectives. The use of various internet marketing strategies is to aid in the enhancement of company sales and how the customers view the company brand. The project will help in the evaluation of the various learning objectives applying the concepts of internet market in practice. Task 1 and 2 1. Understanding marketing through the internet. 1.1 Explanation of the elements of internet marketing There are various elements of internet marketing utilized by marketers in the promotion of products.Theseelementsincludee-business, e-commerce,internetmarketing,anddigital marketing among others. Digital marketing is described as the marketing approach which utilizes the electronic devices such mobiles phones and tablets.Smart Restorations Limited can use digital marketing platforms such as website, apps and social networks. E-commerce is the process in which a company trades its products and services through the utilization of computer networks such as the internet. There are various e-commerce technologies in practice and include
INTERNET MARKETING4 the use of electronic mode to transfer funds, online transaction processing, and mobile commerce among others (Thong 2009). E-business is another element and entails the use of internet and communicationtechnologyinthebusinessenvironmentforthepromotionofbusiness operations. There are various benefits to Smart Restorations Limited would be to gain from internet marketing. These benefits include consumer interactivity, accurate consumer targeting, increased scope and wide reach(Wang et al 2010). The information gained helps in the enhancement of Smart Restorations Limited products. There are microenvironment factors that affect the internet marketing plan by Smart Restorations Limited. These factors include the adaptability of technology, the need to involve consumers, well-defined targets and the ability to react proportionally to the demand of the consumers. On the other hand, there are macro environment factors that affect the plan adopted by Smart Restoration Limited, and they include variation in technology, application of electronic fund transfer, regulations and consumer privacy protection act. 1.2 Evaluation of the internet marketing mix Smart Restorations Limited can use for fours elements of internet marketing in the promotions of its productions. The elements of the internet marketing mix are discussed below: E-products Smart Restorations Limited would use online media in the creation of its product portfolio. This does not allow the customers to touch the actual products, but they can view pictures and check its suitability. To eliminate the issue of the products being intangible, the company would provide detailed and concise information about the products. Smart Restorations Limited would
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INTERNET MARKETING5 ensure that it customizes the products based on customers' preferences and also have trainers to help in the assessment of the needs of online customers. E-price In the product pricing, Smart Restorations Limited would use the auction approach. This method is used in the attraction of more customers to purchase the company products. E-place Smart Restorations Limited has always been perceived as a virtual company in which it lacks a knownlocationsinceitformssubcontractswiththemanufacturers.TheroleofSmart Restorations Limited is to market, do research and development and manage the product through onlinemeans.SmartRestorationsLimitedhasto formulatetheironlineportalin which customers can access and make direct orders. E-promotion Smart Restorations Limited can use an integrated online promotion tools in the attraction of its target customers. The tools used include social media, email marketing, and the use of search engine marketing among other tools. Smart Restorations Limited would need to develop some approaches to the promotion of the refurbished furniture products. 1.3 Comparison of the internet marketing tools Currently, there are some e-tools that a company can adopt. These e-tools include interactive digital TV, digital radio, internet protocol television Facebook, RSS feed and Pinterest among others. Word Press blog, pixetell, Twitter, RSS feed are some of the tools used in content creation. Other tools are used in by the online marketers for the analysis and monitoring the
INTERNET MARKETING6 internet marketing tools performance(Lee-Kelle et al 2003). These tools include mobile updates, metricly, and other alert services. Over the years, Nike has been extensively using Facebook, Twitter, Pinterest and Google+ in its operations. 1.4 Examination of the interactive order processing Nike has emerged as one of the major shoe and retailers globally having established its sales using the online method. The company has developed and highly enhanced portal for selling its products. The consumers can access its products through the company's online store. This online portal is easy to accessand navigate since it has been developed through an extensive consultation with online trainers. The customers can make orders through the website. To accomplish the sales of its products, five steps are used.The first step of the online sales is the search for products using various categories such as men, women (Thong 2009). This is followed by the second step in which the products are added to the shopping cart through the selection of quantity. The third step involves checkout followed by the fourth step which delivery and payment in which the buyer chooses on the address of delivery and pays. Payment methods can be either credit/debit card, PayPal, promo code among others. The final step involves the customer reviewing and submitting their order. 2.1 Demonstration of the mechanics of search engine marketing Search engine marketing can be described as a medium of online promotion which entails promotion of website for the enhancement of visibility in the search engine. Advertisement and optimization process is used to achieve this promotion. The optimization of a search engine can be defined as the enhancement of website visibility on the search engine pages. There are some benefits of search engine optimization, and they include reduced cost promotional approach,
INTERNET MARKETING7 enhanced visibility, evidenced as the bests and helps in the getting to the targeted customers. The cons of SEO involves unpredictability, and the process takes a lot of time. For the evaluation of the mechanics of search engine marketing, it is essential to understand that it has a robot program whose function is to search for relevant information based on specified keywords in various sites and pages. A ranking algorithm is applied, and its work is listing various pages and links with respect to certain keywords. The search engine makes appropriate calculation so as to rank the pages based on the content. The search engine does the quality assessment of the provided pages. 2.2 Write the copy for a suitable opt-in email marketing newsletter for Smart Restorations Limited. The approach of using opt-in email marketing is utilized in the situation a company seeks to provide options for the reception of many emails. Emails in large numbers or bulk are those emails sent to many individuals at the same time. Opt-ins can be categorized into confirmed opt- inandunconfirmedopt-ininwhichtheconfirmedopt-inentailstherequirementfora confirmation of email recipient (Mirchandani and Motwani 2011). Unconfirmed opt-in can, on the other hand, is described as the scenario in which many emails are sent to different entities without the need to confirm the receipt of the email.
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INTERNET MARKETING8 Smart Restorations Limited utilize email marketing to reach the customers and below is an example of an opt-in newsletter that can be used. 2.3 Online public relations using the appropriate guidelines for best practices. The online public relations seeks to fulfill similar objectives to those of traditional public relations. These objectives are geared to impact the specific target group of customers. These practices include the implementation of social media or online pickup in online public relations. The online PR is designed to appeal to the online features of the market, and the media utilized
INTERNET MARKETING9 the use of blogs, websites, twitters, Facebook, etc. Smart Restorations Limited will realize benefits such as referrals, increased efficiency, and minimized expenses. This is also a provision of an alternative way of communication and interconnection with the proposed target customer base. Despite the benefits, there are some shortcomings realizes such as increased criticism and the lack of high responsive rate. The company would gain the most benefits if it were to adopt a viral marketing campaign and the utilization of various offline approaches for the support of the application of online media. 2.4 Showing how a business can utilize emerging digital media communities. Example File sharing sites. To share files, a business needs to improve the accessibility to digital media. Some of the utilized digital media include content on multimedia, information and relevant programs. All these media is essential in order to develop the internet to realize benefits. There are already developed ways used for share files and include YouTube, Twitter, etc. File sharing is essential to a firm because itassistsinthesafeguardandmaintenanceofbusinessinformationinadditiontothe maintenance of site technology. In the area of business, there some favorable file-sharing services such as Dropbox and Google Drive. These concepts are utilized in the management of a firm's online image and protect information and also portrays the organization as responsible since it can maintain information from other entities. Task 3 and 4 3. Support for the management of customer relationships through appropriate market research. 3.1 The necessary secondary market research
INTERNET MARKETING10 Various secondary materials such as journals, research papers, online sources, and articles are a sourceofsecondaryknowledgeusedinthemanagementofcustomerrelationships.The customers' needs are preferences used in the assessment of parameters that a company would need to focus. To ensure that appropriate assessment is done, references is one on the research was done on customer needs and their behavior. Qualitative data was collected through the utilization of secondary methods. This provides information on the strategies of the institution that can be essential in the management of customer relationships. To perform a substantial research, a number of tools such as blogs and Google can help in finding more appropriate information.Theapplicationof thesetoolsisessentialsince ituncoversqualitativeand quantitative data. These sets of data are at the end used by the organization in the assessment of satisfaction of the employees. 3.2 Design of online survey for Smart Restorations Limited. The need to formulate an online research survey is to establish the extent of customer satisfaction from various Smart Restorations Limited products. To assess customer satisfaction, various factors must be considered, and they include quality of products, quality of the company staff and the prices (Al-Qirim 2006). Blogs and websites will be the platform to which the online survey will be designed. It will involve various survey questions to be answered by the customers after their experience with the purchased products. Open and closed questions will be used in the formulation of the survey that will be used in the assessment of the extent to which the customers are satisfied. Examples of the questions include: Open-ended inquiries
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INTERNET MARKETING11 Are you in agreement with the prices set by Smart Restorations Limited and does it provide value for money? 1.I am in total agreement 2.I am in agreement 3.I somehow agree 4.I am in disagreement 5.I am in total disagreement Open-ended inquiries What would be your thoughts on the training of employees in order to enhance the satisfaction of customers? In the design of the survey, www.surveymonkey.com was used which helped in assessing the satisfaction for customers for the Smart Restorations Limited. Information can be accessed from this link: https://www.surveymonkey.com/s/DX3BNTX. Below is the survey of Smart Restorations Limited for the assessment of customer satisfaction. 1. Have you at some point visited Smart Restorations Limited? YES NO I cannot remember if I have
INTERNET MARKETING12 2. The following is to show satisfaction, the dissatisfaction of neither based products of Smart Restorations Limited. https://www.surveymneky.com/s/DX3BNTX I was quite satisfied https://www.surveymneky.com/s/DX3BNTX I was somewhat satisfied https://www.surveymneky.com/s/DX3BNTX I was not satisfied r dissatisfied https://www.surveymneky.com/s/DX3BNTX I was somewhat dissatisfied https://www.surveymneky.com/s/DX3BNTX I was quite dissatisfied https://www.surveymneky.com/s/DX3BNTX I was very dissatisfied 3. What are your views on the quality of products provided by Smart Restorations Limited? https://www.surveymneky.com/s/DX3BNTX Excellent https://www.surveymneky.com/s/DX3BNTX Neutral https://www.surveymneky.com/s/DX3BNTX extremely bad 4. Do you think the behavior and quality of staff training are good? https://www.surveymneky.com/s/DX3BNTX Yes https://www.surveymneky.com/s/DX3BNTX Neutral https://www.surveymneky.com/s/DX3BNTX No 5. How can you rate the general satisfaction regarding price, quality of product and staff behavior?
INTERNET MARKETING13 8-10 5-7 1-4 3.3 Demonstrating the application of electronic customer relationship marketing. One of the strategies used by firms to foster a better relationship with their customers is the management of customer relations. E-CRM is a marketing tool which utilizes the internet platform, and such tools are email, website, and others. Its function is the enhancement of customer relations and promotes the attraction of more customers. It is easier to promote how sellers and buyers relations after the integration of human resources, technology, and business processes in the e-CRM strategy (Tornatzky and Fleischer 2010). This has been due to advancement in technologies and process that are consumer-centered. E-CRM is a software tool which has been developed for the improvement of the relationship of the customers for the creation of the customer portfolio. Through this, various benefits are realized, and they include the company achieves e-loyalty from its customers. The company will also be able to have a more understanding of its customers. There is enough information for the formulation of pricing and approaches for promoting its products to the target consumers. The problem with the implementation of E-CRM is that it brings the issues of safety (Tornatzky and Klein 2012). The provision of open networks can lead to a breach of information which might include the financial information of the customers. Due to the safety and security concerns, the organization is required to seek permission from its clients to gain access to the information concerning the customers. The customers are also left with the right to share their financial information with other firms as they deem necessary. Smart Restorations Limited is required to comply with
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INTERNET MARKETING14 various security regulation in the UK concerning transactions. They should also follow the regulations on data protection since they might face penalties in case of non-compliance. 4. The formulation of the company internet marketing plan. 4.1 The demonstration of the outline showing the internet marketing plan. After a thorough evaluation of the Smart Restorations Limited situational analysis. It will be possible to develop its marketing plan. Due to the presence of other firms offering such services, the company is faced with tough competition. There is also competition from entrants, and this means that the company will do a lot in maintaining its market share. Smart Restorations Limited SWOT analysis. StrengthsWeaknessOpportunitiesThreats Thereputationofthe company’sbrandis quite strong. There is well developed technology. Thecustomer relationshipofthe companyisofhigh quality. Thecustomershave been able to receive the companyproducts positively. Thecompanyhasa well-defined departmentthat maintain sits data. The company has been reported to have a number of non-compliance issues. Thereisnot muchsupport fromthe surrounding society. Thecapabilityofthe companytoventure intothedeveloping nation’s markets. The ability to formulate itsownproduct portfolio. Theopportunityto implementvarious appropriate technologiesto enhancethe managementof customer relationship. The company has been able to deploy the opt- in email strategy. There is high competition fromother businesses offeringthe same products. Thebusiness environment presents extensive legal obligations.
INTERNET MARKETING15 To make an external analysis of Smart Restorations Limited, there will need to investigate its PESTEL factors. Through this, it will be possible to formulate an internet marketing plan which will be utilized in the in the promotion of sales since it will enhance the achievement of the extent to which the customers are satisfied. One of the enabling factors in this issues is technology since it helps in the implementation of low-cost tools such as e-SCM and e-CRM. Through the utilization of these tools, it will be possible to assess the satisfaction of customers. To increase the market share through the attraction of more customers, Smart Restoration Limited will utilize economic factors such as low cost (Tornatzky and Klein 2012). Other factors that have a profound effect and hence the need to consider then are legal and social factors and their implication to the internet marketing. The consideration of this factors will help in avoidance of privacy threats. To carry out a competition evaluation of Smart Restorations Limited, there will need to look at other companies that deal with the business of refurbishing used furniture. There are various objectives in the development of online marketing plan for Smart Restorations Limited. This objective will need to be evaluated to allow the setting process. Below are some of the objectives: The improvement and enhancement of market share of Smart Restoration Limited through the attraction of new customers. The improvementof theextentto whichthe customersare satisfiedthrough the establishment of their behaviour. The improvement of Smart Restorations Limited brand reputation.
INTERNET MARKETING16 It is important to evaluate and understand the implemented channels. Smart Restoration Limited has implemented texting and segmentation process. The cost and effectiveness of a specific technology should be considered before its adoption and implementation. To improve various aspects of the company, information collected from the online survey and the social media approaches will be used. Conclusion In this project, Smart Restorations Limited has been used as the case study. This has helped in the understanding the internet marketing tactics present for adopted by any organization. It is evident that the implemented internet marketing practicesadopted are different from the traditional marketing methods. References Thong, J. (2009). "An Integrated Model of Information Systems Adoption in Small Businesses", Journal of Management Information Systems, Vol. 15, No. 4, pp 187-214. Tornatzky, G. and Klein, J. (2012). “Innovation characteristics and innovation adoption- implementation:ameta-analysisoffindings”,IEEETransactionsonEngineering Management, Vol. 29 No. 1, pp. 28-45. Tornatzky, G. and Fleischer, M. (2010).The Processes of Technological Innovation,Lexington Books, Lexington, MA.
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INTERNET MARKETING17 Wang, M., Wang, S. and Yang, F. (2010)Understanding the determinants of RFID adoption in the manufacturing industry,"Technological Forecasting and Social Change", Vol. 77, pp. 803-815. Lee-Kelley, L., Gilbert, D. and Mannicom, R. (2003).“How e-CRM can enhance customer loyalty”, Marketing Intelligence & Planning,Vol. 21 No. 4, pp. 239-48. Mirchandani, A. and Motwani, J. (2011)"Understanding small business electronic commerce adoption: An empirical analysis", Journal of Computer Information Systems, Vol. 41, No. 3, pp 70-73. Ahn, P., Kim, K., Han, S. (2013),“On the design concept for CRM system”, Industrial Management and Data System,Vol.103 No.5, pp.324-331. Al-Qirim, N. (2006),“The role of the government and e-commerce adoption in small businesses in New Zealand”,International Journal of Internet and Enterprise Management, Vol. 4 No. 4, pp. 293-313. Chaston, I. and Mangles, T. (2013),“Relationship marketing in online business-to-business markets: a pilot investigation of small UK manufacturing firms”,European Journal of Marketing, Vol.37 No.(5/6),pp.753.