E-COMMERCE AND MARKETING

The Revolution in the Domain of Marketing by E-commerce: A Contrast between the Traditional and Current Marketing Practices

Executive Summary

Ecommerce has significantly revolutionised domain of marketing. The aim of this assignment is to shed light on how the domain of marketing has revolutionised due to ecommerce. The advent of ecommerce has several applications to marketers. Ecommerce revolutionised traditional marketing mix by broaden the definition of product, price, place and promotion. There are several advantages of ecommerce to customers including convenience, increased accessibility of information, fewer hassles, and lower prices and wider selection of products. To marketers, ecommerce brought several advantages, such as audience sizing, relationship building, lower costs, and quick market adjustment. Moreover, ecommerce necessitates marketers to plan strategically, and involves potential proprietary data loss, which has a negative impact on growth. However, ecommerce also obtains potential limitations to marketing domain, such as inappropriate to food and perishable items, and technology or internet limitation, and some people still find it difficult to use technology.

The literature findings are enfolded the problems as the effects of ecommerce of marketing, the web 2.0 definition and its effects on marketing, the problems and advantages of ecommerce in processes of marketing, along with the new marketing mix for e-marketing and online shopping. The purpose of this assignment is to demonstrate the effects of ecommerce on marketing to determine advantages and issues of ecommerce in these marketing processes. This review helps in understanding that ecommerce has positively changed marketing and facilitates marketers in keeping in touch with customers via social networking sites.

Key findings include global ecommerce offer opportunity for development and growth, retailer seeks to collaborate via offline and online channels, social media evolves into its own platform of ecommerce, ecommerce and marketers persist to get more customer-centric and social, and mobile commerce forced marketers to espouse multichannel retail. Therefore, marketers strive to develop capabilities of ecommerce.

In conclusion, ecommerce shifted traditional marketing towards social and relationship marketing, which offer convenience, lower cost and competitive advantage over competitors. Additionally, the key advantage of ecommerce application is not driven by the industry but it offers business turnover, increased process automation, competitive advantage, enhanced image and marketing efficiency. Despite, several advantages ecommerce also increased challenges for marketers. Key drawback most marketers came across is the sole focus on the number of customer without considering search impressions. In brief, marketers cannot overlook ecommerce in the present era of globalisation where customers' needs are rapidly changing.

Executive Summaryii

Introduction5

Key Areas of Research and Sources6

E-commerce6

Application of E-commerce7

Advantages of E-commerce8

Difficulties in using E-commerce9

Potential Limitations in using Ecommerce9

Summary of Key Theoretical Position10

Key Observation and Commentary14

Student Learning15

References18

Appendix20

The Revolution in the Domain of Marketing by E-commerce: A Contrast between the Traditional and Current Marketing Practices

Introduction

Ecommerce marketing has changed the way customer make purchase as it increased product choices at competitive prices. Ecommerce allows customers purchase goods without physical barriers; this has drastically increase competition for traders and manufacturers that has provided opportunity to access new emerging ...