Week 10 - E-Marketing

Question 1

What is marketing

Answer 1

The management process responsible for identifying, anticipating and satisfying (needs/wants) customer requirements profitability.

It includes the strategies and actions to establish a relationship with consumer and encourage purchases of products and services. Try to retain customer as long as possible, before they disengage.

Question 2

4P’s

Answer 2

Price
Product
Promotion
Place

Question 3

Price

Answer 3

value to the customer, price of competing products, price elasticity, discounts etc.
- Is it affordable? Cheaper than physical shopfront equivalent?
- Can we have special offers, incentives or reduce advertising costs?
- Are customers receiving a greater perceived benefit from the product than the cost?

Question 4

Product

Answer 4

Is concerned with quality, design, features, branding, packaging & customer perception.
- Has it sold well?
- Is it a service or a product/good?
- Is it in demand?
- Does it lend itself to new marketing strategies

Question 5

Place

Answer 5

Is concerned with distribution channels, market coverage, logistics, inventory management. Also aims for business to be sustainable & efficient.
- The global market means more competition
- Consider geographic, legal & cultural boundaries… is the business easy to find?
- Can the product that sold well physically, still sell well online?

Question 6

Promotion

Answer 6

Is concerned with advertising, public relations, personal selling, online communications. Doesn’t necessarily relate to tangible outcomes.
- Internet provides a window into an organisation – perceptions
- How to advertise & where ?

Question 7

Do the P’s need to be agile & flexible or rigid?

Answer 7

Agile & flexible

Question 8

What do consumer behaviour models do?

Answer 8

Attempts to explain customer behaviour. Objective is to predict or identify patterns of purchasing.
- Predict wide range of consumer decisions
- Based on demographics and other variable

Question 9

what two factors are important in online markets?

Answer 9

utility: better prices, convenience, speed = utility
trust: build business reputation for honesty, fairness & delivery

Question 10

what 4 features can improve trust?

Answer 10

1 testimonials/reviews
2 about us page
3 security
4 connecting social platforms (&media)

Question 11

web design features that impact online purchasing?

Answer 11

• Overall good experience
• Fast download times
• Easy product list navigation
• Requiring few clicks to purchase
• Responsiveness
  o Mobile, tablet  screen size