It is highly significant to deliver the correct goods and products to the consumers with precision, in order for the consumers to be satisfied. A total of four aspects or issues are given below by which the electronic marketing may be affected by or may affect, which have been obtained by considering and arranging all the sustaining and contradicting data in an order: The accomplishments achieved by combining Internet achievements, The motivating force required by the marketers to provide better service to their consumers. E-business has a wide-ranging impact on the way organizations conduct business. Baker, W., Marn, M. and Zawada, C. (2000) Price smarter on the Net, Harvard Business Rview, February, 2-7. Explain the impact of technological advances on business to business (B2B) commerce. These sites don’t have a store like buildings. Through Webcasting, matters relating the customers’ interest can be delivered. Electronic commerce expands the marketplace to national and international markets. Allen and Fjermestad (2001) say that the biggest implication created by the internet in the marketing mix is for the place. Database technology aligned with digital printing of short runs of full colour promotional materials has had a dramatic impact on direct mail. Majority of the Consumer to Consumer sales occurs through auction sites. The main aspect of ecommerce involves doing business on the web and includes: Business to business (B2B) trading which involves a business such as a company trading with another business on the world wide web. A good or bad opinion of the company’s adopted strategies or actions achieved, can be obtained by setting off a workers criticism system. On the one side, ecommerce makes it easier for businesses to reach a much wider audience at less expense than would be required if the traditional retail method was to be applied. Fast Response To Consumer Trends And Market Demand The impact of e-commerce on marketing . 4.1. Identifying the benefits of direct marketing will help you stay focused on getting the most out of your direct marketing campaign. It could be shown that technology has a strong impact on the marketing strategy in terms of collect, handle, interchange, communicate, analyse, personalise and customise information, leading to cost reductions, more effective marketing procedures and improved customer satisfaction. This will essentially help in convincing the consumer’s or buyer’s requirements, earlier than your opponent. The sites of B2C are more familiar to the public who uses the internet. All work is written to order. This refers to the pricing policies of an organization which are adopted to determine the price for a product or service (Chaffey 2003). The main ingredients of promotion mix are. The idea of online marketing can vary the promotion mix in the following ways: Evaluating the way the internet can be used at various phases of the purchasing mode. These sites help in creating a communication between the customers which helps them to be more close to a purchase. Search Engine Marketing: Certain techniques that are used under this are- Search Engine Optimization (SEO), and paid inclusion. To export a reference to this article please select a referencing stye below: If you are the original writer of this essay and no longer wish to have your work published on UKEssays.com then please: Our academic writing and marking services can help you! VAT Registration No: 842417633. Workers, advisors, government papers, specialty trades or common contractors can be traced using the above mentioned method. Internet has opened before the organizations a new channel to make their products reach their customers, apart from the traditional way of sales helping to cut down the barriers between both the parties. In this method, the customers can react, which helps in raising ROI. It is possible for additional people to use this intermediate for advertising information. Another business scenario where online marketing is utilized is globalised reach. It is the biggest Consumer to Consumer auction site. The continued expansion of … It is a easy and lasting medium. Now, most marketing plans use a combination of traditional methods (print ads in magazines, billboards, radio and TV advertisements, etc.) (2001) E-commerce marketing strategies: a famework and case analysis, Logistics Information Management 14(1/2) 14-23. In other words, it is a business that electronically manages both the collections and payments. The usage of online marketing can be limited to the following listed business conditions. The promotion element of the marketing mix shows how marketing conversation is made within the customers and the stake holders about the company and their products (Chaffey 2003). A product can be physical or digital, an agent can be physical or digital, and the process can be physical or digital. (4) Usage of Online E-mail or Webcasting- Companies can provide newsletters provided by the customers, or advertising options depending on the history of the customers who are purchasing. These create eight cubes, each of which has three dimensions. Benefits of Online Marketing [http://www.wisdomportal.com/Books/OnlineMarketing.html], [http://marketing.about.com/od/internetmarketingstrategy/a/marketingonline.htm]. Copyright © 2003 - 2020 - UKEssays is a trading name of All Answers Ltd, a company registered in England and Wales. What is your positioning? (2003) Internet Marketing. E-commerce is a like any type of business where buying and selling involve the Internet. Direct marketing is one of the most effective marketing methods and it has many benefits, like clearly measurable results. Controlling of partnering and logistics is easy through the use of online marketing methods. On the other hand, in order to get an explanation, it is necessary to estimate the present situations. The huge investment that has to be made in stores can be reduced with business taking place in a much realistic way. 3. E-Commerce expands he marketplace to national and international markets. This involves the transaction of goods and services, the transfer of funds and the exchange of data. This website uses cookies to improve service and provide tailored ads. of changes to the graphics or letterings which would not create any issues. … The associate in turn receives a commission or similar grants for each and every sale. Customer Service: Customer service can be greatly enhanced by enabling customers to find detailed information online. This is not an example of the work produced by our Essay Writing Service. But with the rise of e-commerce and in particular mobile e-commerce, the distinction between online and offline is blurring rapidly. Apart from this benefit it attracts improved image and customer services. (1) Building an Electronic Storefront- Companies can be allotted an area by the online service or can create a new Website on their own wish. Reference this. In order to meet this objective the paper will first explain what e-commerce is, provide a background on its historical context, and look at the extent of its worldwide presence. Online marketing and sales practice will be more useful to the business-to-business relations in the instant future. In other words, it is a business that electronically manages both the … It provides customers with more choices; they can select from many vendors and from more products. These are: Day by day, technology is getting sophisticated and costs are crumbling, making the internet easy and cheap to access. This method is adopted by those companies where goods are sold to the customers directly including those who are involved in a business to business model. No plagiarism, guaranteed! In most of the industry, they market goods and services to the consumers. The complex methods of electronic marketing is utilized in order to create value-added services, which produce results that are unthinkable in structure, even though a variety of electronic means are available to use. In order to obtain profits for all of the marketing processes, it is necessary for the e-marketer to demonstrate serious thinking talents of the tactical and planned market scheduling and also be able to employ the available methods of electronic marketing effectively. Using direct marketing allows you to target specific groups of customers with tailored messages. An example of the impact e-commerce has had on physical retail is the post-Thanksgiving Black Friday and Cyber Monday shopping days in the United States. In traditional commerce, all dimensions of the product, an agent and the process are physical and in E-Commerce all dimensions are digital that is pure E-Commerce, where customers are receiving goods or services in digital format. (c) Purchase the online ads that come up while browsing the net like the pop- up windows. An instance of the usage of online marketing is in the Company communications, A cheap and extensive, method of communication is the E-mail. The best example for Consumer to Consumer site is E-bay. E-commerce. Marketing is one of the business function most dramatically affected by emerging information technologies. Eventually, even for buying a product from a shop situated near to home, the customer may use the internet to place order, and may get the product delivered immediately. E-Marketing Meaning. It is also possible to focus on the variations in income and education. The continued impact of digital technology on marketing strategies can be viewed as an asset. and digital marketing (email blasts, banner ads, social media, Google ads, etc.). But in electronic marketing, the marketers are trying to form relationship with customers and they are looking for long term value maximization. ONLINE MARKETING [http://www.yourdictionary.com/dictionary-articles/define-online-marketing.html ]. Electronic marketing can also be used in the scenario of Customer loyalty. Following the existing price in the internet by the current companies. The market of B2B is increasing in an amazing rate. E-commerce is a popular term for electronic commerce or even internet commerce. It allows quick delivery, especially in case of digitalized products like music and books. The online shopping is getting higher due to the increase in computer consumption in households. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. Reduced transaction cost leads to consumer empowerment. But not all these sites sell through online itself, the consumer buy their products from office, local store or even by telephone. It consists of business-to-consumer and business-to-business commerce as well as organizational transactions that support those activities. Our academic experts are ready and waiting to assist with any writing project you may have. On the basis of Active Media Research, the majority of B2B sites are created for double purpose that is to sell both the products and services directly or indirectly around 98% of sites, 73% of them gives information. Customer Value: Traditional marketing tries to maximize the value per transactions; here customer attraction is big target. Amazon.com Associates Central is an example that can be provided for anassociate marketing program, where the Amazon.com helps the owners of the website to bring in crowd to its site. Direct marketing can have pros and cons. Many consumers find online advertising disruptive and have increasingly turned to ad blocking for a variety of reasons. Measurability is an additional aspect that distinguishes both forms of marketing. Let us view in detail the different elements of the marketing mix on the context of online marketing. Online advertising, also known as online marketing, Internet advertising, digital advertising or web advertising, is a form of marketing and advertising which uses the Internet to deliver promotional marketing messages to consumers. 2. The sites which sell or market products and services even if it is the order takers or others who are more person-oriented mainly include in Web categories which are business to business (B2B), Business to Consumer (B2C) or Consumer to Consumer (C2C). Burnett (1993) defines promotion as the marketing function concerned with persuasively communicating to target audiences the components of the marketing program in order to facilitate exchange. And the highest of those customers bids wins the thing which is for sale believing that the bid will meet a fixed minimum amount. E-commerce marketing can include practices like: Search engine optimization to help a website to … The SME’s also utilize the online marketing due to the huge ROI obtained from it. (1) Increasing the relationship between the customers- The organizations can communicate with the customers to have a detailed knowledge about their needs and hence building customer databases. The use of IT to conduct business online is known as Electronic Commerce (E-Commerce). They only sell their products through the internet. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Digital catalogs are way lesser than the printing paper catalogs. The presentation of group highlights the Electronic commerce in International Marketing and how internet impacted in International Business. Applying promotional tools to serve in various phases of customer relationships like attaining visitors for the first time and retaining them as a regular visitor. In the past this was mainly door-to-door, home parties and mail order using catalogues or leaflets. In addition, e-commerce has a more sophisticated level of impact on supply chains: Firstly, the performance gap will be eliminated since companies can identify gaps between different levels of supply chains by electronic means of solutions; Secondly, as a result of e-commerce emergence, new capabilities such implementing ERP systems, like SAP ERP, Xero, or Megaventory, have helped … As such, e-business and e-commerce impact on many areas of business and disciplines of business management studies: 1. Customization: The ultimate luxury can get is in terms of custom designed products and services. Product promotion: Electronic commerce enhances promotions of products and services through direct, information-rich and interacting contact with customers. Increased use of smart mobile services and … Nowadays e-commerce has become very popular among the people who want to buy and sell different things because of the convenience it offers and the cost benefits to retailers and the cost savings to the customers, and also the secrecy it offers. [REEDY, J. So when you log into your Amazon and purchase a book, this is a classic example of an e-commerce transaction. E-commerce marketing is the practice of guiding online shoppers to an e-commerce website and persuading them to buy the products or services online. The concept of e-commerce: what is. E-commerce, maintaining relationships and conducting business transactions that include selling information, services, and goods by means of computer telecommunications networks. The name is self-explanatory, it is the meeting of buyers and sellers on the internet. We're here to answer any questions you have about our services. MARKETING MIX AND ONLINE MARKETING: Marketing mix, commonly known as the four P’s namely Product, Price, Place and Promotion was first suggested by Jerome McCarthy (1960) and is a vital aspect for establishing and executing the marketing strategies. Impact of E-Commerce on marketing . The availability and continued growth of Internet technologies (IT) have created great opportunities for users all over the globe to benefit from IT services and use them in a variety of different ways. The customers have the opportunity to react to the promotion, as online marketing is a way of direct marketing. You can change your cookie choices and withdraw your consent in your settings at any time. (1960) Basic Marketing: A Managerial Appraoch. The main way in which e commerce will affect the economy, in general, is its impact on productivity and inflation. It makes it possible to participate in virtual auctions. About 80% of e-commerce is of this type, and most experts predict that B2B e-commerce will continue to grow faster than the business to consumer (B2C) segment. Email lists make it easier to have more regular and focused communications with key customers and clients. A superior and higher conventional product status and equity of the company’s manufactured goods and services can be obtained, by adding high value to the manufactured goods. The place element in marketing mix explains the way a product is distributed to its end consumer. Here we discuss the social and economic impact of e-Commerce on society, and the main advantages and disadvantages. (4) Access to Global Markets- The Internet is an accepted medium by the whole world, which helps the consumers and sellers to be linked within any countries in mere seconds. The three different product categories used in this study represent about 30% of consumer electronics sales but with large differences across the Member States. Online marketing produces many more advantageous solutions when compared to out-dated and offline marketing. Company Registration No: 4964706. Viral Marketing: With this kind of marketing, businesses expect the people to convey the information’s achieved about the products. E-Commerce – Impact of E-Commerce: Impact on Direct Marketing, Organisation, Manufacturing, Finance and Supply Chain Management . 2) Cooperative & Instant-the buyers can get the information of the products they are interested in, from the seller’s site and then download those instantaneously. Another business condition where online marketing can be utilized is marketing planning and sales support. The essence of barter system can be summarized as follows: During the industrial age the marketing term was coined to signify the need for identification and satisfaction process. The continued impact of digital technology on marketing strategies can be viewed as an asset. So in auction sites, the sellers will post their things to sell and their items will be bided by the customers. It is easy to trace the clients with the use of tools in online marketing, whereas traditional marketing has several problems, one being dependent on human memory. It has automated and streamlined internal processes and communications, delivering productivity and efficiency improvements. Traditional marketing expands the market of the manufactured goods and services, which is an important aspect for the existence of the organization. Here you interact with the seller (Amazon), exchange data in form of pictures, text, address for delivery etc. To do the same in traditional marketing, many media sources need to be available. 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