IMPACT OF INTERNET ON MARKETING

Impact of Internet on Marketing



Impact of Internet on Marketing

Introduction

Internet Marketing is the practice of all aspects of traditional marketing on the Internet. Internet has affected all the basic elements of the marketing mix: price, product, place, and sales promotion. The main objective of Internet marketing is, to get the most out of a potential audience of the website.

Discussion

Internet marketing is a component of electronic commerce. It is also called online-marketing. It may include such parts as Internet integration, information management, PR activities, Customer Service, and Sales. E-commerce and Internet marketing have become popular with the expansion of access to the Internet, and has become an integral part of any normal marketing campaign. Segments of online marketing and advertising have been growing, both in the consumer sector, and the B2B market. This is evident by the appearance of every day new online stores (Silverstein, 2001). The main advantages of Internet marketing are interactivity, the possibility of the most accurate targeting, the ability of post-click-analysis, which leads to the maximization of the indicators such as conversion of the site and ROI of online advertising. Internet marketing includes items such systems as:

ATL advertising

Contextual Advertising

Search engine marketing in general, and SEO in particular

Promotion of social networks: SMO and SMM

Direct marketing, using Email, RSS etc.

Viral marketing

Guerilla marketing

Key elements of Internet marketing

Product - what you are selling via the Internet should have a decent quality. Goods and services offered, not only competes against other websites, but also traditional shops.

Price - Prices setting on the Internet is generally lower than traditional stores due to low cost. Marketing strategist needs to compare, and monitor prices with competitors on a regular basis.

Promotion - Promotional activities on the Internet can take various forms. The various methods include, search engine optimization, contextual advertising, banner advertising, e-mail marketing, affiliation marketing, viral marketing, hidden marketing, interactive advertising, blogging and so forth.

Place - Point of sales is the website. A website plays a major role as graphic design, user friendliness of the website, speed of processing applications, and features are essential for superior quality. Special attention to the speed of processing, payment methods and systems, delivery terms, and client management system is given, before and after the sale. (Pride, 2006)

Use of the term "Internet marketing,” usually implies the use of direct response marketing strategies which are traditionally used in direct mail, radio and television commercials, but here, they apply to business Internet space. These methods are very effective when used on the Internet, thanks to the ability to accurately monitor the statistics, multiplied by the opportunity to be relatively in constant contact with customers, whether sector B2B or B2C (business-to-consumer). Precise analysis of this feature is widely used, such as ROI - ROI, conversion rate - ratio of effective visits (that is, Conversion of the site). Furthermore, it instantly receives the sales statistics, demand, etc.

Marketing via Internet has had an enormous impact on a number of ...