Internet Marketing

Internet marketing

TASK 1

1. Describes in general terms how the internet can be used as a promotional tool for the organisation as a whole.

Today, secure coerce servers and software from several companies has enabled transactions on the Internet using credit cards and even electronic money. As a result, customers can complete the sales cycle by deciding to make a purchase with a simple click of a mouse (Bakos, and Brynjolfsson,2000, 63-82). Transaction on the internet enables users to take immediate action by purchasing a product or service online without need for any intervention from the seller.

The internet is becoming an increasingly important source of many kinds of information for millions users. Internet surfers primarily use the Internet to access reference information. The internet's ability to provide interactive communication and robust information offers an excellent mechanism to provide customer service and support. Well-organized, easily accessible, and frequently updated customer service and support features allow customers to help themselves to pertinent information by clicking through product and service reference sections.

Business press releases on the internet are common; however, most simply repurpose conventional media formats on the internet instead of utilizing its unique communications capabilities. All of these basic business functions and more can be carried out on the internet by companies wishing to maximize their return on investments on the internet. Marketers will want to carefully consider how these interactive features could be utilized on their company website to be equally effective.

E-business analyst Arthur Sculley states that "the Internet changes everything for B2B" and that "most corporations will have to invent themselves to remain competitive in the New Economy". The power of B2B marketing is that it allows a manufacturer to reduce costs, and more importantly, manipulates information from all sectors along the chain to exploit growth opportunities .

B2B marketing serves as electronic hubs (e-hubs), bringing together suppliers and purchasers in common virtual environments. E-hubs can be defined as websites where industrial products and services can be bought from a wide range of suppliers. It supports the transactions between organisations and helps organisations to avoid the traditional intermediary; thus, retain a higher profit. This enables smaller and flexible firms to rely on their partner-companies for component supplies and product distribution, etc. in order to satisfy their customers more effectively. This includes all the trading steps such as online marketing, ordering, payment and support for delivery. It should also include the electronic provision of services, such as online advice, customer support and after-sales support (Balasubramanian, 1998, 181-195).

In this essay, we will be discussing why firms choose B2B marketing, how the Internet can be a marketing tool for business-to-business marketers in terms of distribution and promotional tools and how the Internet will impact the thought and practice of B2B marketing.

Why firms choose B2B marketing?

Using B2B marketing is to achieve efficiency in communicating the needs of the manufacturers' production lines to the suppliers of component parts. Electronic trading is expected to bring about a number of benefits to industries, including improved manufacturing supply chain, increased productivity, ...