Transcript Creating a Winning E-Business

Creating a Winning E-Business
Second Edition
Marketing Your E-Business
Chapter 6
Learning Objectives
§ Describe the marketing mix
§ Explain the importance of branding
§ Describe primary and secondary market
research
§ Create a marketing plan
§ Identify marketing tools
Creating a Winning E-Business
Second Edition, Chapter 6
2
Marketing Mix
§ Marketing is process of developing mutually
satisfying relationships with customers
§ Four Ps in the classical marketing mix
–
–
–
–
Product
Place
Price
Promotion
Creating a Winning E-Business
Second Edition, Chapter 6
3
Marketing Mix (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
4
Marketing Mix (continued)
§ Marketing mix from customer’s viewpoint
– Four Cs marketing mix model
•
•
•
•
Customer needs and wants
Convenience
Communication
Cost to customer
Creating a Winning E-Business
Second Edition, Chapter 6
5
Marketing Mix (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
6
Building Your Brand
§ A brand
– Incorporates customers’ perceptions of and
experiences with a business
– Combination of name, logo, and design that
identifies a business’s products and services in
consumers’ minds
– Trusted brand can drive sales
Creating a Winning E-Business
Second Edition, Chapter 6
7
Building Your Brand (continued)
§ Define how you want products/services
perceived by customers
– Understand core elements of e-business
– Differentiate core elements from competitors’ core
elements
– Identify how products/services meet customers’
needs
– Decide how to convince customers that
products/services best meet their needs
Creating a Winning E-Business
Second Edition, Chapter 6
8
Building Your Brand (continued)
§ Discover words, phrases, images to put best
public “face” on business
§ Brand names
–
–
–
–
Simple
Easy to remember, spell, and understand
Have “snap”
May be a proper name or use personification
• Coca Cola, Dell Corporation
Creating a Winning E-Business
Second Edition, Chapter 6
9
Building Your Brand (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
10
Building Your Brand (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
11
Building Your Brand (continued)
§ Domain name (URL) and branding
– Address associated with a Web page
– Can be used to help build a brand
– Single- and common-word domain names largely
already taken
• Office.com, Business.com
• May be too generic for successful branding
Creating a Winning E-Business
Second Edition, Chapter 6
12
Building Your Brand (continued)
§ Use creative “brainstorming” to develop brand
name
– Create list of words or phrases and combine them
in creative ways
– Ask for help from friends, family, advisors
§ Pay for professional help in developing brand
name
– The Namestormers, NameLab
Creating a Winning E-Business
Second Edition, Chapter 6
13
Building Your Brand (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
14
Building Your Brand (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
15
Building Your Brand (continued)
§ Domain name (URL) registration
– Managed by ICANN for the U.S. Dept. of
Commerce
– Top-level domains identify the general category in
which a domain name is registered
Creating a Winning E-Business
Second Edition, Chapter 6
16
Building Your Brand (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
17
Building Your Brand (continued)
§ Domain name (URL) registration (continued)
– ICANN contracts with accredited registrars
– Accredited registrars process requests for new
domain names
• Network Solutions
• GoDaddy
• Register.com
Creating a Winning E-Business
Second Edition, Chapter 6
18
Building Your Brand (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
19
Building Your Brand (continued)
§ Brand names, domain names, trademarks are
becoming more interchangeable
– Make certain a URL does not infringe on the
brand or trademark of an existing company
Creating a Winning E-Business
Second Edition, Chapter 6
20
Market Research
§ Collecting and analyzing data to make business
decisions
– Primary research
• Uses quantitative or qualitative methods to
physically collect and analyze data and then
publish the results
– Market research company examples
• NPD Group
• Forrester
Creating a Winning E-Business
Second Edition, Chapter 6
21
Market Research (continued)
§ Secondary research
– Collects data from secondary sources who have
already performed the primary research
– Resources for secondary research
•
•
•
•
•
Reports published by market research companies
Industry white papers
Government databases
Trade associations
Professional journals
Creating a Winning E-Business
Second Edition, Chapter 6
22
Creating a Marketing Plan
§ Provides the details for the marketplace analysis
section of a business plan
§ Plan elements
–
–
–
–
Executive Summary
Situational Analysis
Objectives, Strategies, and Tactics
Budget and Performance Measures
Creating a Winning E-Business
Second Edition, Chapter 6
23
Creating a Marketing Plan (continued)
§ Executive Summary section
– Summarizes overall plan
– One to three pages
– Should be written last
Creating a Winning E-Business
Second Edition, Chapter 6
24
Creating a Marketing Plan (continued)
§ Situational Analysis section
– Explains what is known about the marketplace
•
•
•
•
•
Market size
Market segments
Target market
Competition
Products and services overview
Creating a Winning E-Business
Second Edition, Chapter 6
25
Creating a Marketing Plan (continued)
§ Objectives, Strategies, and Tactics section
– Objectives describe marketing mission
– Strategies identify what is to be accomplished
– Tactics detail how it will be done
Creating a Winning E-Business
Second Edition, Chapter 6
26
Creating a Marketing Plan (continued)
§ Budget and Performance Measures section
– A budget estimates the cost of the plan
– Performance measures evaluate the results of
plan implementation
Creating a Winning E-Business
Second Edition, Chapter 6
27
Marketing Tools (continued)
§ Search engine optimization (SEO)
– Build Web pages that are easy to index by search
engines
•
•
•
•
•
•
Write clear and on-topic Web page text
Use descriptive page titles
Avoid frames and dynamic content
Use text navigation links
Arrange for relevant inbound links
Use meta tags
Creating a Winning E-Business
Second Edition, Chapter 6
28
Marketing Tools (continued)
Creating a Winning E-Business
Second Edition, Chapter 6
29
Marketing Tools (continued)
§ Public relations effort
– Establishes and maintains a company’s public
image
– Timely press release is a cost-effective marketing
tool
– Good idea to work with a PR professional
Creating a Winning E-Business
Second Edition, Chapter 6
30
Marketing Tools (continued)
§ Online advertising (continued)
– Rich media ads
• Interactive elements, Flash technologies,
streaming media
• Shoshkele and streaming media ads
§ Permission-based marketing
– Opt-in e-mail or newsletters
– Double opt-in process verifies recipient voluntarily
receives messages
Creating a Winning E-Business
Second Edition, Chapter 6
31
Marketing Tools (continued)
§ Online advertising (continued)
– Search tool or portal advertising
• Featured placement at other Web sites
• Pay-per-click search tool ads
–
–
–
–
Featured placement in search results lists
Featured placement on same page as search results list
Based on relevant search keywords
Yahoo!, Search Marketing, and goClick.com
Creating a Winning E-Business
Second Edition, Chapter 6
32
Marketing Tools (continued)
§ Link exchanges
– Exchange links with Web sites to boost link
popularity
– Drive new customers to Web site and improve
SEO
– Beware of link farms and link stuffing
§ Newsgroups and Web-based forums
– Participation in can indirectly promote a business
Creating a Winning E-Business
Second Edition, Chapter 6
33
Marketing Tools (continued)
§ Word of mouth (viral marketing)
– Electronic word of mouth exploits the network
effect and viral marketing
– Business blogs
• Put a “human face” on a business
• Way to keep tabs on what customers, potential
customers, and competitors are thinking and
saying
• Provide valuable feedback on products and
services
Creating a Winning E-Business
Second Edition, Chapter 6
34
Marketing Tools (continued)
§ RSS and Podcasting
– Syndication of Web page content or audio using
XML technologies
§ Affiliate programs
– Arrangement in which an e-business pays a fee
or commission when a customer clicks through
from another site and makes a purchase
Creating a Winning E-Business
Second Edition, Chapter 6
35
Marketing Tools (continued)
§ Web rings
– A group of similar e-businesses linked together in
a circular “chain”
– Visitor can click through from site to site in the
chain
§ Awards
– Can give a startup e-business more credibility in
the marketplace
Creating a Winning E-Business
Second Edition, Chapter 6
36
Chapter Summary
§ Marketing is the process of developing mutually
satisfying relationships with customers
§ Classic marketing mix model consists of the
Four Ps: product, place, promotion, and price
§ A brand is a name or logo that identifies a
product or service in consumers’ minds
§ A domain name (URL) can be a tool for building
a brand
Creating a Winning E-Business
Second Edition, Chapter 6
37
Chapter Summary
(continued)
§ Market research involves collecting and
analyzing data using primary or secondary
research
§ A marketing plan provides details for the
marketplace analysis portion of a business plan
–
–
–
–
Executive Summary
Situational Analysis
Objectives, Strategies, Tactics
Budget and Performance Measures
Creating a Winning E-Business
Second Edition, Chapter 6
38
Chapter Summary
(continued)
§ Online marketing tools
–
–
–
–
–
–
Search engine optimization (SEO)
Online ads and opt-in e-mail/newsletters
Search tool and portal advertising
Link exchanges and online forums
Business blogs, RSS feeds, affiliate programs
Web rings
§ Traditional marketing tools
– Radio, TV, print ads, public relations
Creating a Winning E-Business
Second Edition, Chapter 6
39