Very simply put,eMarketing or electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. E-Business Marketing is the direct marketing online, and through this media advertisements can easily reach the consumer’s door step. It provides information through Internet and online services for buying and selling products and exchange of information. If cuts service cost for the marketing and improves the quality of goods/services, and increases the speed of delivery.
“E-Business enables business to be transacted at the speed of thought”.
Business challenges can be overcome, competition can be met, and strategies can be evolved to meet the competition. E-Business enables business to be transacted globally without any significant barrier.
Voluminous and repetitive documentation can be eliminated. It enables differentiation for competitive advantage.
It provides effective management information and helps in decision-making. It helps manage the customer chain and integrates it with the supplier chain. There is better management of marketing. It leads to reduction in the cost of doing business.
There are no geographical boundaries and targeting individual clients is less costly. There are fewer middlemen, there is quick order execution, faster realization of money, client has much wider choice and he can choose from products offered globally. It also helps in booking airline/train tickets yourself from your home/office. You can have access to Bank transaction and to billing online.
Advantage to the consumer
Worldwide Presence: This is the biggest advantage of conducting business online. A firm engaging in e-business can have a nation wide or a worldwide presence. IBM was one of the first companies to use the term e-business to refer to servicing customers and collaborating with business partners from all over the world. Dell Inc. too had a flourishing business selling PCs throughout the US, only via telephone and the Internet till the year 2007. Amazon.com is another success story that helps people buy internationally from third parties. Hence, worldwide presence is ensured if companies re-think their business in terms of the Internet.
Cost-Effective Marketing and Promotions: Using the web to market products guarantees worldwide reach at a nominal price. Advertising techniques like pay per click advertising ensure that the advertiser only pays for the advertisements that are actually viewed. Affiliate marketing, where customers are directed to a business portal because of the efforts of the affiliate who in turn receive a compensation for their efforts meeting with success, has emerged on account of e-business. Affiliate marketing has helped both the business and the affiliates. Firms engaging in e-business have managed to use cost-effective online advertising strategies to their advantage.
Developing a Competitive Strategy: Firms need to have a competitive strategy in order to ensure a competitive advantage. Without an effective strategy, they will find it impossible to maintain the advantage and earn profits. The strategy, that the firms can pursue, can be a cost strategy or a differentiation strategy. For instance, till the year 2007, Dell Inc. was selling computers only via the Internet and the phone. It adopted a differentiation strategy by selling its computers online and customizing its laptops to suit the requirements of the clients. Thus, e-business resulted in Dell Inc. managing to capture a vast segment of the market using the differentiation strategy.
Better Customer Service: E-Business has resulted in improved customer service. Many times, on visiting a web site, the customer is greeted by a pop-up chat window. Readily available customer service may help in encouraging the customer to know more about the product or service. More over, payments can be made online, products can be shipped to the customer without the customer having to leave the house.
There are three ways in which we can categories E-Business applications.
We are in this section concerned with business to customer transactions, the customer is always looking for the ease of purchase, convenience, low prices, good quality and proper service. Electronic Business provides the consumer with convenient shopping from online catalogue, to electronic banking which eliminates costs. It eliminates many intermediary steps.
It provides video conferencing for better interaction and information. Consumer cannot be seen not met. The consumer can conveniently transact the business according to his needs.
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Consumer Behaviour Tutorial
Psychographic Or Lifestyle Segmentation
Concept Of Culture & Subculture
Cultural Variations In Non-verbal Communications
Family Buying Influences, Family Life Cycle And Buying Roles
Diffusion Of Innovation
Personality And Self Concept
Motivation And Involvement
Information Processing Learning And Memory
Attitude Development And Alternate Evaluation In Buying
Search And Evaluation
Purchasing Process And Outlet Selection
Purchase Behaviour (situational Factors)
Models Of Consumer Behaviour
Consumerism (public Policy And Consumer Protection)
Organisational Buying Behaviour
Changing Consumer Behaviour
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