Tuesday, July 30, 2019
Online Marketing
INTRODUCTION EVOLUTION OF MARKETING Mar-ket-ing Spelled Pronunciation [mahr-ki-ting] ââ¬â noun 1. The act of buying or selling in a market. 2. The total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer. including advertising, shipping, storing, and selling. At the beginning of the century, social life was mostly local. It was followed by a period in which commodities were produced on a mass scale: Consumer Marketing operated on mass marketing principles and business primarily concerned itself with how to build the best sales force.At the end of the century, there is an emerging global culture. The major driver of these changes is technology. Technological change has moved steadily back focusing on the individual. These changes shape the possibility and conduct of business. Marketing is especially tied to communication and transportation revolution. As the tools and reach of marketing increase, the job and responsibilities of mar keters have evolved with them. Philip Kotler formalized this evolution with his book ââ¬Å"Marketing Managementâ⬠.His key stages are production, sales and brand management. Each of these is strongly motivated by technological opportunities, which permit new methods and new opportunities. A fourth stage, a focus on the individual customer, is also important. As the new technology of the Internet develops, it reinforces the new marketing emphasis ââ¬â which in many ways is a return to business at the turn of the century. In today's technology driven world, a new fast paced digital economy is emerging. Tomorrow there will be companies that will exist only inside computer networks.Most business transactions will be made electronically, directly from the producer to the consumer, bypassing the supply chain. In the digital marketing environment, the consumer becomes an integral player in the development of the product. In fact, a consumer might build the product himself from a w ide array of parts provided by the Company. It is ecommerce that is changing the way products and services are conceived. Manufactured, promoted, priced, distributed and sold. The reason being that it is much cheaper; it allows vast coverage and helps in serving the customer better ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â Online marketing ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- The internet has become an ongoing emerging source that tends to expand more and ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- more. The growth of this particular medium attracts the attention of advertisers as a ââ¬ââ⠬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- more productive source to bring in consumers. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â-A clear advantage consumers have with online marketing is the control they have ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- over the product, choosing whether to check it out or not. Online marketing may also ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- offer various forms of animation. In its most common use, the term ââ¬Å"online advertisingâ⬠ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- comprises all sorts of banner, e-mail, in-game, and keyword advertising, including on ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- latforms such as Facebook, Twitter, and MySpace. Web-related advertising has a variety ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- of ways to publicize and reach a niche audience to focus its attention to a specific group. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Research has proven that online advertising has given results and is a growing business ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- revenue. For the year 2012, Jupiter Resear ch predicted $34. 5 billion in US online ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- advertising spending. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Types of Internet marketing ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Internet marketing is broadly divided into the following types: ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- display advertising: the use of web banners or banner ads place d on a third-party website or blogà to drive traffic to a company's own website and increase product awareness. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â-Search engine marketingà (SEM): a form of marketing that seeks to promoteà websitesà by increasing their visibility in search engine result pagesà (SERPs) through the use of either paid placement, contextual advertising, and paid inclusion, or through the use of free search engine optimization à techniques also known as organic result. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Search engine optimizaton (SEO): the process of improving the visibility of a website or a web page in search engines via the ââ¬Å"naturalâ⬠or un-paid (ââ¬Å"organicâ⬠or ââ¬Å"algorithmicâ⬠) search results. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â Social media marketing: the process of gaining traffic or attention through social media websites such as Facebook, Twitter and LinkedIn. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Email marketing: directly marketing a commercial message to a group of people using electronic mail. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Referral maketing: a method of promoting products or services to new customers through referrals, usually word od mouth . ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â-Affiliate marketing: a marketing practice in which a business rewards one or more affiliates for each visitor or customer brought about by the affiliate's own marketi ng efforts. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Content marketing: the process of creating specialized content such as infographics, blog articles and ebooks to attract more customers. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Inbound marketing: involves creating and freely sharing informative content as a means of converting prospects into customers and customers into repeat buyers. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â-Video marketing: This type of marketing specializes in creating videos that engage the viewer into a buying state by presenting information in video form and guiding them to a product or service. Online video is increasingly becoming more popular among internet users and companies are seeing it as a viable method of attracting customers. ADVERTISING Ad-ver-tis-ing Show Spelled Pronunciation [ad-ver-tahy-zing] ââ¬â noun 1. the act or practice of calling public attention to one's product, service, need, etc. , esp. by paid announcements in newspapers and magazines, over radio or television, on billboards, etc. to get more customers by advertising. 2. Paid announcements; advertisements. 3. The profession of planning, designing, and writing advertisements. Advertising is a paid form of communication, although some forms of advertising, such as public service announcements, use donated space and time. Second, not only is the message paid for, but the sponsor is identified. Third, most advertising tries to persuade or influence the consumer to do something, although in some cases the point of the message is simply to make consumers aware of the product or company.Fourth and fifth, the message is conveyed through many different kinds of mark media reaching a large audience of po tential consumers. Finally, because advertising is a form of mass communication, it also non-personal. A definition of advertising, then, includes all six features Advertising is paid non-personal communication from an identified sponsor using mass media lo persuade or influence an audience. Functions of Advertising Advertising is an important promotional tool for any marketing campaign. So much so that whenever we think of marketing we think of advertising although it is just one of the marketing tools.Till now only companies with a profit motive went in for advertising. But today government bodies as well as non-governmental organizations ING0s) go fir high profile advertising campaigns. The purpose here is not to increase the sales figure but to increase the awareness of people regarding the relevant topics. Even though each ad or campaign tries to accomplish goals unique to its sponsor, advertising performs three basic functions: 1. Provide product or brand information Although many ads are devoid of information, providing the consumer with relevant information that will aid decision making is stilt the main function of advertising.The information given depends on the needs of the target audience. In the case of purchasing a new suit, needed information might simply include price and outlet location. For technical products, the information is likely to be very detailed. 2. Provide incentives to take decision In most instances, consumers are reluctant to change established behavior. Even if there are somewhat dissatisfied with the current product or service, a habit has been established and learning about a new product is deemed difficult. Advertising provides the consumer with reasons to switch brands by presenting reasons through copy or graphics.Convenience, high quality, lower price, warranties, Or a celebrity endorser are all possibilities. 3. Provide reminders and reinforcement Itââ¬â¢s amazing how much advertising is directed at current customers. Consumers' forget why they bought a particular brand of microwave or automobile. Advertising must remind the customer constantly about the name of the brand, its benefits, its value, and so forth. These same messages help reinforce the customers decision. Most television advertising seems to provide this function Types of Advertising ââ¬â Advertising is a form of selling.It tries to make consumers buy goods or services. Advertisers must be aware of the factors that influence people's buying habits and then use advertising strategies based on this knowledge. Advertising can be classified in number of ways. 1. Print Advertising: Newspapers, Magazines, Brochures, Fliers The print media have always been a popular advertising medium. Advertising products via newspapers or magazines is a common practice. In addition to this, the print media also offers options like promotional brochures and fliers for advertising purposes. 2. Outdoor Advertising:Billboards, Kiosks, Tradeshows and Eve nts (OOH) Outdoor advertising is also a very popular form of advertising, which makes use of several tools and techniques to attract the customers outdoors. The most common examples of outdoor advertising are billboards, kiosks, and also several events and tradeshows organized by the company. The billboard advertising is very popular however has to be really terse and catchy in order to grab the attention of the passersby. The kiosks not only provide an easy outlet for the company products but also make for an effective advertising tool to promote the company's products.Organizing several events or sponsoring those makes for an excellent advertising opportunity. The company can organize trade fairs, or even exhibitions for advertising their products. If not this, the company can organize several events that are closely associated with their field. 3. Broadcast advertising: Television, Radio and the Internet Broadcast advertising is a very popular advertising medium that constitutes of several branches like television, radio or the Internet. Television advertisements have been very popular ever since they have been introduced.The radio might have lost its chaem owing to the age media however the radio remains to be the choice of small-scale advertisers. 4. Covert Advertising: Advertising in Movies Covert advertising is a unique kind of advertising in which a product or a particular brand is incorporated in some entertainment and media channels like movies, television shows or even sports. There is no commercial in the entertainment but the brand or the product is subtly (or sometimes evidently) showcased in the entertainment show 5. Surrogate Advertising: Advertising IndirectlySurrogate advertising is prominently seen in cases where advertising a particular product is banned by law. Advertisement for product. ââ¬â like cigarettes or alcohol which are injurious to heath are prohibited by law in several countries and hence these companies have to come up with several other products tint might have the same brand name and indirectly remind people of the cigarettes or beer bottles of the same brand. Common examples include Fosters and Kingfisher beer brands, which are often seen to promote their brand with the help of surrogate advertising. 6. Public Service Advertising: Advertising for Social CausesPublic service advertising is a technique that makes use of advertising as an effective communication medium to convey socially relevant inessagtx1 about important matters and social welfare causes like AIDS, energy conservation, political integrity, deforestation, illiteracy, poverty and so on. 7. Celebrity Advertising â⬠¢Ã¢â¬ ¢Ã¢â¬ ¢ â⬠¢ Although the audience is getting smarter and smarter and the modern day consumer getting immune to the exaggerated claims made in a majority of advertisements, there exist a section of advertisers that still bank been celebrates and their popularity for advertising their products.Using celebrities for advertising involves signing up celebrities for advertising campaigns, which consist of all sorts of advertising including, television ads or even print advertisements. 8. Internet Advertising Internet promotion is one of the newer types of advertising and can be accomplished in a number of ways. Rash advertising refers to messages that jump onto your computer screen and often move around. They can be hard to close and are annoying, but effective at gaining your attention. Pop up and scrolling ads are other examples of these types of advertising.Pay per click advertising refers to marketers paying to have their web pages placed high on search engine results pages. These are also called sponsored links. OBJECTIVE OF THE STUDY To compare the trust level of traditional advertising and online advertising (consumers point of view) * To find out the scope of the Internet advertising * To find the reliability and effectiveness of the internet advertising * To compare internet advertisi ng with traditional advertising. INTERNET MARKETING THE ADVENT OF THE INTERNET The new millennium has brought us on the brink of the I. T. Revolution.This revolution has been aided by the advent of the Internet in a big way. Internet is fast changing the way people used to do things. Naturally, the same would have an impact on the advertisers. The Internet has been accepted as the most powerful media for advertising due to the absence of geographical barriers. The advent of the Internet and its subsequent acceptance has once again challenged the traditional forms of advertising. Advertisers are trying to use the ââ¬Ënet' to advertise their products and hence ââ¬Ënet' their customers. Thus, with the Internet gaining prominence, advertising equations are fast changing.Internet marketing, also referred to as web marketing, online marketing, or e-Marketing, is the marketing of products or services over the Internet. Internet marketing ties together creative and technical aspects o f the Internet, including design, development, advertising, and sale. The Internet has brought many unique benefits to marketing, one of which being lower costs for the distribution of information and media to a global audience. The interactive nature of Internet marketing, both in terms of providing instant response and eliciting responses, is a unique quality of the medium.Internet marketing is sometimes considered to have a broader scope because it not only refers to digital media such as the Internet. E-mail and wireless media, however, Internet marketing also includes Management of digital customer data and electronic customer relationship management (ECRM) systems. 7 P'S OF INTERNET MARKETING The four P's ââ¬â Product, Price, Place and Promotion have long been associated with marketing, but things have changed on the Internet. So along with a change in the nature of the four P's there are three new P's which are relevant to the Internet marketer: Presentation, Processes an d Personalization. . Product Product on the Internet usually changes form online, and the user experiences it electronically. in the form of text, images and multimedia. Physical goods are usually presented in the form of a detailed online catalogue that the customer can browse through. Technology allows the user to virtually touch and feel the product on the Internet ââ¬â rotate it, zoom in or zoom out and even visualize the product in different configurations and combination. Content and software are two avatars of digitized products that can be even distributed over the Internet.On the Internet, E-marketing will be based more on the product qualities rather than on the price. Every company will be able to bring down the cost of its products and hence competition will not be on price. It will rather be on the uniqueness of the product. To be able to attract the customers and retain them, the company will have to provide nouvelle and distinct products that forces the net users to purchase and come beck for more. 2. Price Price has been drastically changed over the Internet. It lets the buyer decides the price. Also it gives the buyers information about multiple sellers selling the same product.It leads to best possible deal for the buyers in terms of price. Pricing is dynamic over the Internet. 3. Place Place revolves around setting up of a marketing channel to reach the customer. Internet serves as a direct marketing channel that allows the producer to reach the customer directly. The elimination of the intermediate channel allows the producer to pass the reduced distribution cost to the customer in the form of discounts. 4. Promotion Promotion is extremely necessary to entice the customer to its website, as there are currently more than one billion web pages.Promoting a website includes both online and offline strategies. Online strategies include search engine optimization, banner ads, and multiple points of entry, viral marketing, and strategic partne rship and affiliate marketing. Presently, the cyberspace is already cluttered with thousands of sites probably selling similar products. For the customers to know of the Company's existence and to garner information on the kind of products or services that the company is offering, promotion has to be carried out. There can be traded links or banner advertisements for the same.Also the traditional mediums like print, outdoor advertising and television can be used to spread awareness. 5. Presentation The presentation of the online business needs to have an easy to use navigation. The look and the feel of the web site should be based on corporate logos and standards. About 80% of the people read only 20% of the web page. Therefore, the web page should not be cluttered with a lot of information. Also, simple but powerful navigational aids on all web pages like search engines make it easy for customar to find their way around. 6. ProcessesCustomer supports needs to be integrated into the online web site. A sales service that will be able to answer the questions of their customers fast and in a reliable manner is necessary. To further enhance after sales service, customers must be able to find out about their order status after the sale has been made. 7. I? Personalization Using the latest software it is possible to customize the entire web site for every single user, without any additional costs. The mass customization allows the company to create web pages products and services that suit the requirement of the user.A customized web page does not only include the preferred layout of the customer but also a reselection of goods the customer may be interested in. UNDERSTANDING THE INTERNET CUSTOMERS Now to be able to use the seven Pââ¬â¢s effectively in order to achieve the predefined goals of any organization it is imperative to understand the customers. Customization will only be truly effective if we understand our customer and their true need. Before adapting marketing practices to the Internet, the marketer needs to understand the characteristics of the online customers.The Net users can be classified into five categories depending upon their intention of using the Internet. The five categories of users are: Directed Information Seekers: They require specific, timely and relevant information about the products and services being offered. Undirected Information Seekers: These users require something interesting and useful. Something that can give them an edge, advantage, insight or even a pleasant surprise. Bargain Hunters: They are of two kinds: One who looks for free items on the Internet another who is seeking better deals higher discounts etc.Entertainment Seekers: They see the Web as an entertainment medium of vast breath and potential and want to explorer the medium before the mass gets there. Directed Buyers: They want to buy something ââ¬â now. They are sure what they require and just log on to the Web to purchase the item. C RITICAL SUCCESS FACTORS IN INTERNET MARKETING Having observed the evolving paradigms of business in the Internet era, there are five critical success factors that the Internet Marketer has to keep in mind. Attracting the Right Customer Attracting the Right Customer is the first crucial step.Rising digital penetration would mean that the number of customer visiting particular sites would inevitably go up. While the number of eyeballs or page views has so far been conveniently used as a satisfactory measure by most web sites, it would be foolish to cater to the whole spectrum of digital visitors. Contest has to be very target specific. The digital company has to select its target segment by finding out which section of customer are the most profitable in terms of revenue 21 transactions and who are the customers who generate the maximum number of referrals.Here again it is important to note that the majority of online customers are not seeking the lowest price. Rather they are seeking convenience above everything else. The power of customer referrals has never been so enormous, since word of the mouse spreads faster than word of the mouth. E-Bay attracts more than half of its customers through referrals. Not only do referred customers cost less to acquire than those brought in by advertising or other marketing tools, they also cost less to support since they use their friends who referred them for advice rather than using the companies' own technical desk.Delivering Content Value Delivering Content Value to engage the user's interest is the critical importance in retaining customer participation. This is because content serves as a powerful differentiator. Content would include Product enhancements (Software patches for glitches), personalized interactions (through customized navigation paths as seen on the web sites of GM and Toyota) and Problem Resolution (updates of delivery schedules and e-mail responses). Integral to the concept of delivering proper content value is innovation. For e. g. www. campareindia. com Ensuring E-LoyaltyEnsuring E-Loyalty is vital to the success of any online venture. This is because acquiring customers on the Internet is enormously expensive and unless those customers stick round and make lots of repeat purchases over the years, profits will remain elusive. Contrary to the general view that Web customers are notoriously fickle, they in fact follow the old rules of customer loyalty. Web customers stick to sites that they trust and with time consolidate their purchases with one primary supplier to the extent that Purchasing from the supplier's site becomes part of their daily routine.The issue of trust is integral to the issues of privacy and security. Companies like Amazon. com which command amazing levels of consumer trust, have used a variety of encryption tools and simple ethical decisions like not accepting money for publishers for independent book reviews to maintain the trust of its customers. E-Learning to facilitate personalized interactions E-Learning to facilitate personalized interactions with customers has been the biggest contribution of the Web to the marketing strategists. Customers in traditional bricks-and-mortar stores leave no record of their behavior unless they buy something.In the digital marketplace, however technology has made the entire shopping experience a transparent process. For example, if the customer exits the web-site when the price screen appears, he is a price sensitive consumer. Such minute tracking of customer behavior has major implications for the world of advertising. The Internet may soon be used as a test bed for testing prototypes of marketing and advertising campaigns. By monitoring pages selected, click through, responses generated, and other indicators, the company would be able to discover which parts of a prospective campaign would work, thus reducing the risk of a potential flop.This would make it possible for the company to modify its pro duct offerings much earlier than usual in the product life cycle, Providing Digital value to the evolving consumer through his life cycle Providing Digital value to the evolving consumer through his life cycle has become possible because of customized interactions and emerging business models. These models have often disturbed the traditional status quo and created new rules of business. The sectors where new business models will emerge or have emerged are the music industry, the financial services industry, the travel industry, the relating segment and the publishing segment.Digital value is delivered to the consumer by promising him convenience, allowing the customer to feel his ownership of the Web experience, and giving the customer a sense of belonging that traverses the physical boundaries. BENEFITS OF INTERNET MARKETING The reason why Internet marketing has become so popular is because they provide three major &malts to potential buyers: 1. Convenience: Customers can order pr oducts 24 hours a day wherever they are. They don't have to sit in traffic, and a parking space, and walk through countless shops to find and examine goods. . Information: Customers can find reams of comparative information about companies, products, competitors, and prices without leaving their office or home. 3. Fewer hassles: Customers don't have to face salespeople or open themselves up to persuasion and emotional factors; they also don't have to wait in line. Internet marketing also provides a number of benefits to marketers 1. Quick adjustments to market conditions: Companies can quickly add products to their offering and change prices and descriptions. 2. Lower costs:On-line marketers avoid the expense of maintaining a store and the costs of rent, insurance, and utilities. They can produce digital catalogs for much less than the cost of printing and mailing paper catalogs. 1. Relationship building: On-line marketers can dialogue with consumers and learn from them. 2. Audience sizing Marketers can learn how many people visited their on-line site and how many stopped at particular places on the sites. This information can help improve offers and ads. Clearly, marketers are adding on-line channels to find, reach, communicate, and sell.Internet marketing has at least five great advantages. First, both small and large firms can afford it. Second, there is no real limit on advertising space, in contrast to print and broadcast media. Third, information access and retrieval are fast, compared to overnight main and even fax. Fourth, the site can be visited by anyone from any place in the world. Fifth, shopping can be done privately and swiftly ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Competitive advantage over traditional advertising ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â-One major bene fit of online advertising is the immediate publishing of information and ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- content that is not limited by geography or time. To that end, the emerging area of ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- interactive advertising à presents fresh challenges for advertisers who have hitherto ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- adopted an interruptive strategy. ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- Another benefit is the efficiency of the advertiser's investment.Online advertising allows ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬ââ⠬âââ¬âââ¬â- for the customization of advertisements, including content and posted websites. For ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- example,à AdWords,à yahoo! Search marketing and Googleà Adsense enable ads to be shown ââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬âââ¬â- on relevant web pages or alongside search results. MARKET RESEARCH Title A study on the effectiveness of Internet Advertising and its scope. PURPOSE AND SCOPE OF STUDY Advertisers are expected to spend Rs. 4,500 million in internet advertising in the year 2011 third only to TV and Print ads, which is :mound 5257% mote than that in the year 2004, compound percentage increase of 124% over the last 5 years. This is the new age of advertising. It is true that people have started realizing that internet can serve as a one stop point for all their needs. Be it communication, entertainment, shopping, information search, Internet serves as a panacea for all their requirements. This has led 70% of the ever users to glue themselves to the Internet and access it on a regular basis.This is an opportunity for advertisers to exploit this revolution. But, is it the end of traditional advertising? Is internet advertising effective and efficient compared to the traditional form Does it fulfill the basic objectives of advertising (create awareness, to generate sales, build positive image, etcâ⬠¦ ) The problem is that, volumes of consumers are online everyday for their personal work, but do they notice the ads, banners etc. displayed on that webpage, most important what is their recall/remembrance value. What about the reach of online advertising, is it effective across over all target groups?We have trusted traditional advertising all these years and it's a proven medium that fulfills all the objectives of advertising, can one have the same trust for online advertisingâ⬠¦ RESEARCH METHODOLOGY Research design This is a descriptive research as it will clarify the doubts about online marketing. It would give us a clear picture on the effectiveness and reliability of online advertising compared to the traditional form of advertising. Data collection Secondary data: Online reports related to marketing Primary data: Questionnaire RESULTS AND AND ANALYSIS The researchInternet marketing has become an integral part of today's life as Internet access is on all time high and this trend is expected to keep the same pace and will definitely expand the horizon of its reach. Objective of this research is to analyze the trend of internet usage in contrast of online marketing. Time spent On an average, a person spends more than 4 hours on the Internet during his free time. Hence, on an average the exposure of interne; to an individual is around 150% more than that of other mediums i. e. the reach of medium Intern et is much better than that of others.But one cannot infer anything about the effectiveness of the medium through exposure (reach) alone. One needs to calculate the impressions (actual number of times an individual sees the ad) of the medium also. Reach Reach refers to the total number of different people or households exposed, at least once, to a medium during a given period of time. Impressions This is a term used by media to describe and quantify the number of individuals who have an ââ¬Å"opportunityâ⬠to see an AD in a given amount of time Scope Scope defines the level of Internet usage within a specified time period.This data gives us a strong platform to analyze and summarize the objective, pattern and usage of Internet. Research has been done through questionnaire. The questionnaire and its results is as follows: Questionnaire Name: Occupation: Course(if student): Age: Gender: Given below are some question based on E- marketing. Kindly fill the questionnaire. 1. Do you surf internet? (a) Very often (b) Often (c) Occasionally (d) Never 2. Do you ever give a look to the advertisements while surfing? (a) Very often (b) Often (c) Occasionally (d) Never 3.Does popping up of advertisements while surfing botherââ¬â¢s you? (a) Very often (b) Often (c) Occasionally (d) Never 4. Do you buy products online after seeing its advertisements? (a) Very often (b) Often (c) Occasionally (d) Never (5)Do you think e-marketing is: (a) effective (b) very effective (c) less effective (d) not effective (6)Do you feel e-marketing affect your buying decision? (a) Very often (b) Often (c) Sometimes (d) Never (7)How much should a company depend on online marketing? (a) 0% to 25% (b) 26% to 50% c) 51% to 75% (d) 76% to 100% (8) Rank the following types of marketing according to their effectiveness: (a) ads in newspaper/magazines (b) search engine marketing (c) business card (d) marketing on social networking sites (e) personal marketing (f) ads in television (g) e-mail ma rketing (h) banners/posters (i) sending newsletter (9) which type of product do u generally buy online? (a) electronics (b)clothing (c) books/magazines (d) other accessories 10) which type of services do u take online? (a) matrimony (b) movie tickets (c) travel tickets (d) hotel services Result 1. Do you surf internet? (a) Very often (b) Often (c) Occasionally (d) Never Out of 100% sample population, 62% of the people use internet very often, 22% use internet often, 14% use internet occasionally and 2% never use internet. Thus it is clear that 98% of the total urban population uses internet and 2% of the total population never uses internet. However growth of use of internet shows that 100% population will use internet in the coming years. . Do you ever give a look to the advertisements while surfing? (a) Very often (b) Often (c) Occasionally (d) Never Here out of 100% sample population, 12% people watches online advertisements very often, 22% often watches online advertisements, 36 % occasionally watches online advertisements and 30% of the population never watches online advertisements. This results shows that 70% of the sample population access advertisements links. 3. Does popping up of advertisements while surfing botherââ¬â¢s you? (a) Very often (b) Often (c) Occasionally (d) NeverOut of 100% of sample population, 27% people are bothered very often by advertisements while working on internet, 13% people are less often bothered by advertisements, 48% people are occasionally bothered by advertisements and 12% are never bothered. Botherness of people also depends upon nature of work and advertisements. If the work is important then botherness increases and vice versa. 4. Do you buy products online after seeing its advertisements? (a) Very often (b) Often (c) Occasionally (d) Never As we have seen 70% of the total sample population actually watches online advertisements.Now there are 52% people who never buys those products and 48% people who buys those pr oducts. Now out of those 48% only 12% of the populations buys products very often, 14% buys product less often and 22% people occasionally buys products after watching its advertisement. (5)Do you think e-marketing is: (a) effective (b) very effective (c) less effective (d) not effective It states that out of 100% sample population , 15% find e-marketing very effective, 40% find e-marketing effective, 30% find e-marketing less effective and 15% find e-marketing not at all effective. 6)Do you feel e-marketing affect your buying decision? (a) Very often (b) Often (c) Sometimes (d) Never Out of 100% sample population, 52% of the population thinks their buying decision very often depends upon advertisement. 22% of the population thinks their buying decision often depends upon advertisements. 14% of the population thinks their buying decisions occasionally changes due to advertisements and 12% of the populationââ¬â¢s buying decision doesnââ¬â¢t depend upon advertisements. (7)How mu ch should a company depend on online marketing? (a) 0% to 25% (b) 26% to 50% (c) 51% to 75% (d) 76% to 100%Here, out of 100% sample population 48% of people thinks that a company should depend less than 25% on online marketing, 34% thinks a company should depend less than 50% and more than 25% on online marketing, 15% thinks that a company shouhd depend more than 15% and less than 75% on online marketing, and only 3% thinks that a company should depend more than 75%. (8) Rank the following types of marketing according to their effectiveness: (a) ads in newspaper/magazines. (b) search engine marketing. (c) business card. (d) marketing on social networking sites. (e) personal marketing. (f) ads in television. g) e-mail marketing. (h) banners/posters. (i) sending newsletter According to the research, types of marketing which are given rank according to their effectiveness are as follows: 1) Personal marketing 2) Ads in television 3) Ads in newspaper/magazines 4) Banners/posters 5) Busi ness card 6) Marketing on social networking sites 7) Email marketing 8) Search engine maketing 9) Sending newsletter (9) which type of product do u generally buy online? (a) electronics (b)clothing (c) books/magazines (d) other accessories Out of 100% sample population, 40% people buy electronics, 25% people buy lothing, 15% buy books/magazines and 20% people buy other items. (10) which type of services do u take online? (a) matrimony (b) movie tickets (c) travel tickets (d) hotel services Out of 100% sample population 5% of population takes matrimonial services, 45% takes movie tickets, 35% takes travel tickets and 15% takes hotel services. Conclusion On the basis of this research findings and analysis,we can conclude that the use of internet has increased and large urban population is using internet, therefore internet marketing shows upbeat trend for its future growth and large acceptance worldwide.Internet marketing is still at pioneer stage, large population prefer traditional purchasing due to the intangible feature of internet marketing and post purchase experience. The recommendations are needed to be implemented in order to acclaim major purchase and gain trust of the online population. Limitations Internet marketing is no doubt the future of advertising, and it will take over the world of marketing within a few short years. However, this does not mean that there are no limitations to what an internet marketing firm can accomplish.It is important for marketers and users to understand these problems, and to comprehend that they may damage the marketing campaign. One of the main problems which comes with running a marketing campaign over the Internet is that it limits the audience to just those individuals and users who have access to the World Wide Web. Although most people in the target audience would be able to use the Internet, the fact remains that some people are still not comfortable with its usage and this is where an internet marketing firm may face problems.In addition to this, one other major problem which stands in the way of a successful internet marketing campaign is that users are often reluctant to purchase or spend money on products online. They cannot test out the project or use it and make sure it works, and this puts the entire campaign under stress. It means losing customers and users to a problem which cannot be helped. References DigiMarketing ââ¬â The essential guide to new media and digital marketing -kent wartime, Ian fenwick Principals of advertising and IMC * Tom dunkan http://en. wikipedia. org/ http://ieeexplore. ieee. org/
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.