E-Marketing

9780130497574

0130497576

Marketers have been using electronic tools for many years, but the Internet and other information technologies created a flood of interesting and innovative ways to provide customer value. Short text message coupons to cell phones based on user location; consumer behavior insights based on offline and online data combination; inventory optimization through online bidding; a single-minded focus on ROI and associated performance metrics--these and more are on the cutting edge of e-marketing in 2003. New opportunities create lots of questions, however, especially in the aftermath of the dot-corn crash. How can firms leverage new technologies to maximum benefit? How much commitment should marketers make to electronic marketing programs? Is our ROI on target for that Internet project? In this book, we attempt to answer these and many other questions. E-marketing is traditional marketing using information technology but with some twists. The Internet and other technologies affect traditional marketing in three ways. First, they increase efficiency in established marketing functions. Second, the technology of e-marketing transforms many marketing strategies. Finally, it has fundamentally changed consumer behavior though a power shift from firms to mouse-holders. The marketing transformation results in new business models that add customer value, build customer relationships, or increase company profitability. The Internet also serves as an efficient marketing planning tool for both secondary and primary data collection. In addition, electronic technologies affect the 4 P's: Product--Internet technologies spawned a variety of innovative products for creating, delivering, and reading messages as well as services such as reverse auctions, business-to-business (13213) market exchanges, and interactive games. What's next? Keep your eye on the wireless market! Pricing--The Net turned pricing strategies upside down. Bartering, bidding, dynamic pricing, and individualized pricing are now quite common online. Shopping agents create transparent pricing for identical product offerings at various online retailers. Distribution (Place) --E-marketers use the Net for direct distribution of digital products (e.g., news stories and live radio) and for electronic retailing. But tremendous value occurs behind the scenes: Supply chain management and channel integration create efficiencies that can either lower customer prices or add to company profits. Online retailers line the dot-corn graveyard, so today's e-marketers must be very careful to stick to solid business practices. Promotion--The Net assists with two-way communication: one-to-one Web pages, e-mail conversation, short text messaging, and e-mail conferencing via newsgroups and mailing lists. The Net is also an advertising medium in its own right, but it has not realized the revenue promise predicted in the late 1990s, and we explain why. E-marketers also use the Net for promotions, and sending electronic coupons and digital product samples directly to consumers. One of the most important applications of electronic marketing involves customer relationship management. Companies are experimenting with a myriad of technologies to discover and meet the needs of these savvy and demanding customers. The book you have in your hands is the third edition ofE-Marketing(first edition was namedMarketing on the Internet). We expanded the scope from 10 to 16 chapters to build on two important areas: the strategic perspective and global issues in e-marketing. It includes new areas such as performance metrics and wireless strategies for mobile devices. This book discusses many offline electronic marketing techniques that employ information technology, such as point-of-purchase scanning devices and databases; however, it focuses on the Internet due to its widespread and increasing us