Internet Marketing and Management: An Analysis of Four Core Tasks
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This article analyzes the four core tasks related to internet marketing and management, and how companies like Google, Amazon, Facebook, and Apple dominate these sectors. It also suggests alternative actions and a preferred action plan for businesses.
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1 Table of content Problem statement2 Applicable concepts2 Qualitative data2 Quantitative data2 Analysis results3 Alternative actions3 Preferred action plan3 References4
2 Problem statement Before 1990s, internet was just part of a defence project. However, in 1995 the US congress privatised and this resulted in boom in innovation. The four core tasks related to marketing that were identified were generation of leads, sharing of information, mode of transaction and mean of persuasion (Jansen, 2017). Since then internet has effectively become integral part of practicing marketing and management. The examples of Google, Amazon, Facebook and Apple will help in identifying how internet has become the global platform for buying, selling and information sharing. Applicable concepts Internet marketing has nowadays become a known terminology for marketers, suppliers and sellers. In simple words, internet marketing can be defined as a process that is undertaken for promoting a business or a brand including the products as well as services. Several tools are available to such businesses which drives internet traffic, generates leads and helps in sales. According to Park and Roome (2017), the conventional marketing generally employed use of print media and word of mouth promotions. It has become critical to understand the radical change in marketing approach over the last two decades. Collective Intelligence needs to be made common in the field of internet marketing as it guides the customers with more innovative way of suggesting products needed to be bought as per the daily usage of data (Park and Roome 2017). Qualitative data Traditional advertisements are intrusive, interruptive and obstructive to say the least. Television commercials, magazine and radio advertisements and billboards are few examples of traditional marketing approach. For a consumer, there is no option to ignore such advertisements even if they do not like it. Alternatively, content marketing has been on a rise as in this strategic approach the focus is to distribute relevant, valuable as well consistent content to a defined audience to propel profitable consumer activity (Sukhodolov, Popkova and Kuzlaeva, 2018). Quantitative data According to Scholz (2016), the four core sectors identified above are dominated by Google, Amazon, Apple and Facebook. Amazon began as a digital media supplier and then transformed itself into internet marketplace that drove traffic and transactions. They enjoyed a profit of $57 billion in 2013. Similarly, Google initially started as a search engine and then developed their search algorithm which helped in driving the internet traffic and generating leads for companies like Amazon by providing ads and in year 2012 their reported profit was around $43 billion. Apple’s devices has been termed as interface for controlling the digital lives of people. Their devices and apps have made Apple one of the all time most valuable companies with a revenue
3 of $600 billion. Facebook since its inception has been transforming the internet experience and it has over time transformed from a socialising site to one hosting advertisementsto online retailing with a revenue of $4.6 billion. Analysis results Each of the above mentioned companies even though dominate one of four core marketing aspects of internet economy, it is quite understandable that all these companies continuously compete with each other to gain dominance in the remaining fields. Amazon and Facebook has beendevelopingitsownsearchalgorithmtocompetewithGoogle.Ontheotherhand, Facebook and Google are developing their own market to compete with Amazon. Amazon and Google are constantly developing applications, hardwares and services to compete with Apple. The overall analysis shows that the people to benefit from these companies and their rivalries are the consumers Alternative actions Internet has become an indispensable mode of marketing (Hooton, 2017). Alternatively the traditionally used marketing can be put to good use when strategically placed. The use of the authoratory online super market can be brought forward by passkey installation. Oneclickoptionandgooglepayinitialisationcanbeusefulinalternativeactionscale (Sukhodolov, Popkova and Kuzlaeva, 2018). Preferred action plan The most preferred plan of action is to create blog posts, infographics, case studies, videos and podcasts that resonate with the goals of business and reflect the brand persona among the targeted audience followed by researching the most used keywords which will help in focussing the type of content to be created and promoted.
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4 References Hooton, C., (2017). Refreshing our understanding of the internet economy. Internet Association. Jansen, W., (2017). New business models for the knowledge economy. Routledge. Park, J. and Roome, N., (2017). Sustainable business strategies in the Internet economy. In The Ecology of the New Economy (pp. 22-34). Routledge. Scholz, T., (2016). Platform cooperativism. Challenging the corporate sharing economy. Sukhodolov, A.P., Popkova, E.G. and Kuzlaeva, I.M., (2018). Internet Economy: Existence from the Point of View of Micro-economic Aspect. In Internet Economy vs Classic Economy: Struggle of Contradictions (pp. 11-21). Springer, Cham. Sukhodolov,A.P.,Popkova,E.G.andKuzlaeva,I.M.,(2018).ProductionandEconomic Relations on the Internet: Another Level of Development of Economic Science. In Internet EconomyvsClassicEconomy:StruggleofContradictions(pp.1-10).Springer,Cham.