STUDY ON INTERNET MARKETING
Internet Marketing is the fastest growing and most exciting branch of marketing today . As the world becomes ever most connected ,keeping up with developments and trends is vital for marketers trying to reach new audience -who are more discerning , fragmented and cynical than ever. Technology and software are changing at such a high rate that it seems almost impossible to keep up with trends. Products and services are evolving and adapting to the online sphere. The web is constantly shifting , growing and changing – everything is fleeting.
Internet Marketing refers to a set of powerful tools and methodologies used for promoting products and services through the Internet. It includes a wider range of marketing elements than traditional business marketing due to the extra channels and marketing mechanisms available on the Internet. These are the valuable complement to traditional marketing methods whatever the size of your company or your business model. Though businesses will continue to make use of traditional marketing methods, such as advertising, direct mail and PR, e-marketing adds a whole new element to the marketing mix. Many businesses are producing great results with e-marketing and its flexible and cost-effective nature makes it particularly suitable for small businesses.
In simple words we define Internet Marketing as collaboration of all internet related marketing on of advertising. The information given depends on the needs of the target audience. In the case of purchasing a new suit, needed information might simply include price and outlet location. For technical products, the information is likely to be very detailed2. Provide incentives to take decision
In most instances, consumers are reluctant to change established behaviour. Even if there are somewhat dissatisfied with the current product or service, a habit has been established and learning about a new product is deemed difficult. Advertising provides the consumer with reasons to switch brands by presenting reasons through copy or graphics. Convenience, high quality, lower price, warranties, or a celebrity endorser are all possibilities.
3. Provide reminders and reinforcement
It’s amazing how much advertising is directed at current customers. Consumers forget why they bought a particular brand of microwave or automobile. Advertising must remind the customer constantly about the name of the brand, its benefits, its value, and so forth. These same messages help reinforce the customers decision. Most television advertising seems to provide this function.
2. Evolution of Marketing
At the beginning of the 19th century, social life was mostly local. It was followed by a period in which commodities were produced on a mass scale. Consumer Marketing operated on mass marketing principles and business primarily concerned itself with how to build the best sales force. At the end of the century, there is an emerging global culture. The major driver of these changes is technology. Technological change has moved steadily back focusing on the individual. These changes shape the possibility and conduct of business. Marketing is especially tied to communication and transportation revolution. As the tools and reach of marketing increase, the job and responsibilities of marketers have evolved with them.
Kotler formalized this evolution with his book "Marketing Management." His key stages are production, sales and brand management. Each of these is strongly motivated by technological opportunities, which permit new methods and new opportunities. A fourth stage, a focus on the individual customer, is also important. As the new technology of the Internet develops, it reinforces the new marketing emphasis which in many ways is a return to business at the turn of the century.
In today’s technology driven world, a new fast paced digital economy is emerging. In the near future, it wouldn’t be surprising to see that there are companies that exist only inside computer networks. Most business transactions will be made electronically, directly from the producer to the consumer, bypassing the supply chain. In the digital marketing environment, the consumer becomes an integral player in the development of the product. In fact, a consumer might build the product himself from a wide array of parts provided by the company. It is e-commerce that is changing the way products and services are conceived, manufactured, promoted, priced, distributed and sold. The reason being that it is much cheaper; it allows vast coverage and helps in serving the customer better.
The internet is the newest and youngest medium, having been around in its current form for just about 20 years. the very first interconnected computer network was developed as a joint project between the US military and several research organisations, and went live in 1969. new advances came slowly at first: network email was invented in 1971 (though the system was very slow and primitive), international connections were established in 1973, the term “internet” was first used in 1974 and the first real online protocols were introduced in the 1980s. everything accelerated in the early 1990s as Tim Berners-Lee, acknowledged as the creator of the internet as we know it today, built on his earlier revolutionary work and released the URL protocol, web browser software and the World Wide Web to the public. By 1993, businesses started taking an interest in the internet. the debate raged about whether they were permitted to use the internet for commercial purposes, since it had been established as a strictly educational and non-commercial arena. eventually, however, the businesses won out and the last of these restrictions were dissolved in 1995.
early internet giants like Yahoo and amazon launched their online platforms in the mid-1990s a wave of new search portals, including Alta Vista, excite and Infoseek. google launched in 1998, taking search to a new level of accuracy and convenience. other commercial websites, like the auction site eBay, began to dominate the web, solidifying the interactive and global commercial potential of the internet.
In 2004, the concept of “web 2.0” – the interactive, commercial, cooperative and user-centric web – exploded into public consciousness. Its main characteristics were the rise of social networking, the invention of tools that made creating and customising personal pages increasingly simple, and the big push by online marketers to make their advertising and products more accessible and desirable to online markets. commercial strategies have become more prevalent and innovative since then. recent years have seen a growth in web consciousness as users become more adept at filtering and steering online content.
The first marketing activity online started in the early 1990s with the creation of simple, text-based websites with basic information about a product or company. these were complemented with basic emails – often unsolicited spam – that shared information in a rudimentary way. as web tools evolved, so too did the websites, incorporating images, sounds, videos and more advanced formatting styles.
the Internet Marketing field hasn’t stood still. Here are some of the current trends:
Social media marketing.-- Whether it is a fad or here to stay, social media has made an indelible mark on the web landscape and, concurrently, on marketing tactics. Social media marketing involves using peer recommendations, sharing, building brand personality and addressing the market as a heterogeneous group of individuals. It also uniquely encourages customers to create content and buzz around a product themselves.
Viral marketing.-- this form of marketing involves the exponential spread of a marketing message by online word of mouth (sometimes referred to a “word of mouse”). a major component of viral communication is the meme – a message that spreads virally and embeds itself in the collective consciousness . Viral marketing is closely tied to social media, since social media platforms and their sharing functionality are the main way that a message is able to “go viral” online. keep in mind, however, that viral marketing does not make a holistic online marketing campaign and should be just one of many tools used to create awareness and encourage interaction.
Brand as product.-- more than ever before, brands are creating personas and identities around themselves rather than the products they sell. the online space allows customers to interact and converse with the brand personally and directly.
ad fatigue.-- Web users have become very familiar with online advertising and have learned to tune it out – or have even installed programs like AdBlock Plus to block it altogether. marketers today have to think of very innovative and eye-catching strategies to entice wary viewers.
targeting.-- Virtually all online advertising is targeted to reach specific readers. unlike the broad-strokes targeting done in traditional marketing (placing an advert in a relevant magazine, for example), web targeting can be extremely precise. With the immense amount of personal and usage data currently available, targeting can be done automatically and extremely successfully.
During the purchasing stage, product assortment, sale services and information quality seem to be the most important point to help consumers decide what product they should select, or what seller they should buy from.
Post-purchase behaviour will become more important after their online purchase. Consumers sometimes have a difficulty or concern about the product, or they might want to change or return the product that they have bought. Thus, return and exchange services become more important at this stage.