Internet marketing



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Date10.05.2023
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internet marketing

Internet marketing

Development, opportunities, challenges, importance

Objectives

Students should be able to:

  • Define internet marketing
  • Outline the development of internet marketing
  • Identify the opportunities of internet marketing
  • State the challenges posed by internet marketing
  • Indicate the importance of ecommerce to business organizations

Internet marketing definition

  • Internet marketing is an all-inclusive term for marketing products and services online . This includes a variety of methods and platforms for communicating with customers such as website, e-mail, social media, and online advertising.

The development of internet marketing

  • Youtube video

The development of internet marketing


Online marketing may occur between different stakeholders
    • Business to consumer
    • Consumer to business
    • Business to business
    • Consumer to consumer

The development of internet marketing


The firm should consider the following before implementing online marketing
Website development
Payment system
The nature of the product
Integration of marketing strategies
Size of the target market
Delivery methods

Opportunities created by internet marketing


Wide reach
Increased demand and sales
Expansion of online payment
Cost reduction
Growth in ecommerce
Market research opportunities
Customer feedback

Wide reach

Wide reach

Increased demand and sales

  • More customers lead to increased demand
  • Payment online if facilitated increases sales

Expansion of online payment

Expansion of online payment

Cost reduction

  • Operating virtually results in reduced costs in:
  • Advertising
  • Document preparation
  • Data entry
  • Use of telephone

Growth in e-commerce

Growth in e-commerce

More people are shopping online

More firms are making their products available online

Shopping can occur at anytime

Some companies operate in one country and have a call centre in another

Market research opportunities

Data mining can be done to:

  • Identify customer preferences
  • Monitor payment options
  • Provide customer rewards
  • Forecast sales
  • Help with inventory planning
  • Identify loyal customers

Customer feedback

A company can receive feedback from customers and use this information to:

  • Improve the product
  • Access a better supplier
  • Improve customer satisfaction
  • Develop new ideas
  • Attract new customers

Challenges associated with internet marketing


Legal implications
Inability to keep up with demand
Differences in language and culture
Technological deficiencies
Security breaches
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