EC S4

Question 1

Please define Marketing and E-Marketing!

Answer 1

Marketing:

Process that “provides direction for production and helps make sure that the right goods and services are produced and find their way to consumers”

E-Marketing:

The application of the internet and related digital technologies to achieve marketing objectives
Using digital helps sell & buy goods and products

Question 2

Please define product based Marketing Strategies.

Answer 2

1. Companies offer a variety of products that appeal to different groups of people
2. Managers think of their businesses in terms of products and services they sell.
3. When creating a marketing strategy:
   - Managers must consider both the nature of their products and the nature of their potential

Question 3

Please define Customer based Marketing Strategies:

Answer 3

1. Managers focus on meeting the specific needs of various types of customers
2. Good first step in build a customer based marketing strategy.(Identify groups of customers who share common characteristics)

Question 4

Please define each element of the Marketing Mix and give to everything examples.

Answer 4

Product – Physical item or service that company is selling

1. Ability to deliver interactively & more detailed information
2. Buyers knows about product features
3. Buying process customised for returning visitors
4. Product can be customised to consumers

Price – Amount customer pays for product

1. Pricing has become competitive
2. Reduced store & staff costs
3. Increase price transparency
4. Dynamic pricing
   Able to offer differential pricing for different segments or in response to variations in demand.

Promotion – Any means of spreading the word about product

1. The advancement of a product, idea, or point of view through publicity and/or advertising.
2. Using new media for:

- Advertising e.g. Using Websites & Ads

- Sales Promotions e.g. Using Customer databases

• PR using databases (aspect of Marketing,
• Direct marketing using web sites

Place – Need to have products or services available in different locations

Disintermediation – Selling directly to consumers
Removing intermediaries

**Reintermediation - New intermediaries e.g. Online Intermediaries **

Question 5

Define the Web marketing strategy and the marketing mix.

Answer 5

Marketing Strategy

Specifies a target market and the marketing mix
The elements chosen by a company to market its product – the “Big Picture”

Marketing mix

Variable elements a company puts together to satisfy its target group
Some product, offered at a price, some promotion to tell potential customers about the product and how to reach where customer is.

Question 6

Enumerate all key marketing functions the internet can perform.

Answer 6

1. Creating company & product awareness
2. Branding
3. Offering incentives
4. Lead generation/creation
5. Customer Service
6. Email Databases
7. Online transactions
8. Global reach
9. Lower costs
10. Ability to track & measure results
11. 24-hour Marketing
12. One-to-One Marketing
13. Personalisation
14. More interesting campaigns
15. Better conversion rate
16. Marketing objectives