Categories of consumers
• Impulsive buyers: purchase quickly
• Patient buyers: make some comparisons first
• Analytical buyers: do substantial research before buying
Functions of markets
Three main functions of markets
• Matching buyers and sellers
• Facilitating the exchange of information, goods, services, and payments associated with market transactions
• Providing an institutional infrastructure, such as a legal and regulatory framework, that enables the efficient functioning of the marke
E-Market Space
A marketplace in which sellers and buyers exchange goods and services for money (or for other goods and services), but do so electronically.
Components
• Customers
• Sellers
• Products
• Infrastructure
• Front end
• Back end
• Intermediaries
• Other business partners
• Support services
• Digital products
E-Marketing Strategies
The essential issues of marketing are also referred to as the four Ps of marketing mix:
• Product: Physical item or service that a company is selling
• Pricing: Amount the customer pays for the product
• Placement: How the product/service gets to the customer, sometimes called “place” referring to “where” a product/service is sold
• Promotion: Any means of spreading the word about the product
There are extra tree Ps as the extended marketing mix:
• People: Right person, trained well, motivated
• Process: Providing services to customers
• Physical evidence: Case studies, testimonials
Types of E-Markets
• E-storefront: A single or company Web site where products and services are sold
• E-mall (online mall): An online shopping center where many stores are located
• some are merely directories
• some are actually large click-and-mortar retailers (e.g., shopping.com)
• some are virtual retailers (e.g., buy.com)
• E-marketplace: An online market, usually B2B, in which buyers and sellers exchange goods or services; the three types of e-marketplaces are private, public, and consortia
• Private e-marketplaces: Online markets owned by a single company; can be either sell-side or buy-side marketplaces
• Sell-side e-marketplace: A private e-market in which a company sells either standard or customized products to qualified companies
• Buy-side e-marketplace: A private e-market in which a company makes purchases from invited suppliers
• Public e-marketplaces: B2B markets, usually owned and/or managed by an independent third party, that include many sellers and many buyers; also known as exchanges
• Consortia: E-marketplaces owned by a small group of large vendors, usually in a single industry
Market segmentation
• The identification of specific portions of a market and targeting them with specific advertising messages
• Divides the pool of potential customers into segments
• The practice of targeting very small market segments - micromarketing
Marketers have traditionally used three categories of variables to identify market segments
• Geographic segmentation: location
• Demographic segmentation: age, gender, family size, income, education, religion, or ethnicity
• Psychographic segmentation: social class, personality, or their approach to life
Acquisition, conversion, retention
• The first step in doing business on the web is to acquire or draw visitors to the site itself
• The second step is converting those first time visitors into customers by persuading them to make a purchase or register with the site, etc.
• Customers who return to the site one or more times after making their first purchases are retained customers
Advertising
• Advertising is all about communication between:
• a company/organization and its current customers
• a company/organization and potential customers
• a company/organization and its former customers
• To be effective, firms should send different messages to each of these audiences
Types of Internet advertising/marketing
• Banner ads: most popular, different sizes and styles
• Pop-up ads: popular, another type is pop-behind
• E-mail marketing: powerful, economical, legal implications, spam
• Affiliate marketing: commission-based, benefit of the selling site’s brand in exchange for the referral
Search Engine Positioning
• Potential customers find web sites in many different ways
• Some site visitors will be referred by a friend, others by affiliates, some will see the site’s URL in a print advertisement or on television
• Many site visitors will be directed to the site by a search engine
• A search engine helps people find things on the web
• A search engine has three major parts:
1. A spider, a crawler, or a robot
2. Index or database
3. Search utility
• Search engine positioning is also called:
1. Search engine optimization
2. Search engine placement
for example:
A.R. Sayyed
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