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Online Marketing
Key Concepts
- is about creating successful transactions.
- Marketing is like matchmaking: it's about bringing together two parties looking for something from each other
- You need to understan
- The 4Ps: product, price, promotion, place
- Marketing tactics: bring the customer to the firm or bring the firm to the customer
- The is a way to represent how many people an advertiser needs to reach to generate a sale. Advertisers use it to calculate
- You need to be able to
- You need to be able to
- acquiring and retaining customers online is something that any business can do, not just "online" businesses
- The specifies the steps involved in people's decision to buy
- You can use the internet to influence each of these steps
- The internet on has had a big impact on marketing
- There are more ways to reach people called "marketing channels" than there were before the internet
- Customers can broadcast their opinion of products to everyone in the world
- Customers can now research easily online, so there are multiple influencers for a buyer's decision
- Businesses can collect statistics on who visits their site, which pages they visit and whether or not they buy, u
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- Businesses will pay for people's attention. This is called t
- Many web sites earn revenue from businesses that want to get the attention of people who visit that web site.
- There are many advertising-based business models, which is one of the reasons why there is so much free stuff on the internet
- Display advertising is the the type of advertising that displays ads from third parties on web sites
- The participants in the include:
- Advertisers: the people who buy the ads (usually businesses)
- Web site owners: people who own the sites on which the ads are displayed e.g Space in which ads can be placed is called "real estate."
- Intermediaries: internet advertising agencies that develop the ads, advertising networks that distribute the ads across many different web sites, ad servers (such as DoubleClick — now owned by
- Unlike static advertising such as that in print magazines and on television, online advertisers can display different ads to different users, based in information about the users
- the practice of targeting ads to users based on their online behavior i.e. the sites they visit
- Display advertisers usto target ads
- Display advertising advantages: can promote a brand and build awareness
- Display advertising disadvantages: just like TV ads, you don't know if the people who see the ads are interested at all in the product
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- Search advertising is the practice of placing advertisements in people's search results
- Search advertising has a big advantage over other types of advertising: you know what people are looking for by what they type into the search engine
- Advertisers will pay a premium to get access to users who are actively looking for something
- That's homakes a lot of money
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- Search advertising advantages: can target ads at people actively looking to buy something
- Search advertising disadvantages: cannot stimulate interest of people who are not looking; cannot build a brand e.g. "Coke" using search advertising
- he art of designing your web site so it is at the top of relevant search engine results
- use social networks to get people to share ads or product information with their friends and to gather information about the users of social networks
- and MySpace are the best known examples
- But there are many others:
- Advantages of social media marketing: people tend to trust and pay attention to recommendations from their friends; can spread funny or interesting messages very fast (called "going viral"); can
- Disadvantages of social media marketing: some products or services may not be interesting enough to "go viral"; results are unpredictable; people may resent having their personal information used
- Email marketing is adverting in emails
- Most useful for repeat customers, as the business already has their email address
- Advantages: low cost; can stimulate purchase from repeat customers
- Disadvantages: can be hard to reach new prospects (seen as "spam")
- Blogs, user forums, customer complaints
- Blogs provide a way to broadcast information to customers
- Customer comments on blogs can be a useful form of customer feedback
- User forums can be useful both for solving customer problems and getting customers to help each other
- Advantages of blogs and customer forums: free; customers can help each other; can create a community, enhancing customer loyalty
- Disadvantages of blogs and customer forums: customer complaints can be very visible to prospective new customers; maintaining a blog can be a lot of work; customer forums need to be monitored
- Promotion on third-party shopping sites such as Craigslist
- Example: see cut his advertising and used Google Products
- Advantages of promotion on shopping sites: much greater exposure; some listings are free (e.g. Google Products)
- Disadvantages of promotion on shopping sites: product comparison is often by price, resulting in intense price competition
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- The participants in the include:
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- The web site is an important marketing tool
- Ultimately, almost all forms of online advertising direct the user to a web site
- It is then up to the design of that web site to turn a visitor into a customer
- You need to understand the elements of web site design
- You need to be able to develop an online marketing campaign
- Select target
- Develop budget
- Select tactics
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page revision: 1, last edited: 07 Dec 2009 09:16