Title Unit 5 - E-Marketing, E-Advertisement and E-Branding - E-Business.pdf ✅

www.ckundan.com.np 1 Unit V: E-Marketing, E-Advertisement and E-Branding - E-Business Introduction of Marketing: Marketing involves activities through which products or services of a company move from concept to the customer. It includes advertising, selling and delivering products to people. People who work in marketing departments of companies try to get the attention of target audiences by using slogans, packaging design, celebrity endorsements and general media exposure. Marketing is based on thinking about the business in terms of customer needs and their satisfaction. Fig: Marketing The marketing activities include the coordination of four elements called the four 'Ps' of marketing; a. Identification, selection and development of a Product, b. Determination of its Price, c. Selection of a distribution channel to reach the customer's Place, and d. Development and implementation of a Promotional strategy. Functions of Marketing: Business owners everywhere recognize that if they want to make money, they have to sell their products or services. But what we might not know is that there are actually seven functions of marketing that span everything from distribution to pricing.
www.ckundan.com.np 2 Fig: Seven Function of Marketing 1. Marketing Information Management: Market research is about gathering information concerning our target customers. Who are the people we want to sell to? Why should they buy from us as opposed to a rival business? Answering these questions requires that we do some on-the-ground observation of the market trends and competing products. 2. Financing: It takes money to make money. As a business owner, an important function of marketing a product is finding the money through investments, loans, or our personal capital to finance the creation and advertising of our goods or services. 3. Pricing: Setting the correct price for our product or service can be a challenge. If our price is too high, we might lose customers, but if our price is too low we might be robbing ourself of profits. The "right" price normally comes through trial and error and doing some market research. 4. Promotion: Most business owners are familiar with the idea of promotion. Advertising our products and services is essential to attract new customers and keeping existing customers coming back. As the marketplace changes, we'll want to respond appropriately by tailoring our
www.ckundan.com.np 3 promotional messages to new media (such as Facebook or Twitter), by sticking with more conventional outlets or by using a mix of the old and new. 5. Product and Service Management: Once we've determined the target market and set the price of our product or service, the goal becomes to effectively manage the product or service. This involves listening to customers, responding to their wants and needs, and keeping our products and services fresh and up to date. 6. Distribution: Distribution is about deciding how we'll get the goods or services we want to sell to the people who want to buy them. Having an idea for a product is great, but if we aren't able to get that product to the customers we aren't going to make money. Distribution can be as easy as setting up shop in the part of a city where our target customers are, but in an increasingly interconnected world, distribution more often than not now means that we'll need to take our products or services to the customers. 7. Selling: While we tend to think of selling and marketing as being closely linked, selling is last on the list of the seven functions of marketing. This is because selling can happen only after we've determined the wants and needs of our customer base and can respond with the right products at the right price point and time frame. Traditional Marketing and E-Marketing: Traditional Marketing: It is a broad category that incorporates many forms of advertising and marketing. It's the most recognizable type of marketing, encompassing the advertisements that we see and hear every day. Most Traditional Marketing Strategies Fall Under One Of Four Categories: Print, Broadcast, Direct Mail, And Telephone. a. Print marketing is the oldest form of traditional marketing. Loosely defined as advertising in paper form, this strategy has been in use since ancient times. Today, print marketing usually refers to advertising space in newspapers, magazines, newsletters, and other printed materials intended for distribution.
www.ckundan.com.np 4 b. Broadcast marketing includes television and radio advertisements, started around the early 19th century, which was quicker to adopt advertising through entertainment. c. Direct mail marketing uses printed material like postcards, brochures, letters, catalogues, and fliers sent through postal mail to attract consumers. d. Telephone marketing, or telemarketing, is the practice of delivering sales messages over the phone to convince consumers to buy a product or service. This form of marketing has become somewhat controversial in the modern age, with many telemarketers using aggressive sales tactics. Fig: Traditional Marketing Advantages of Traditional Marketing: a. Simple Techniques: Involves quite simple techniques to reach to its customers, as it involves easy and direct access to the customers. b. Real World Communication: People can touch, feel, hear and interact with this form of marketing. Therefore, every person can try to detect what other people like better and act accordingly. c. Face To Face Selling: Unlike social marketing, people have the opportunity to meet their salesman face-to-face. Disadvantages of Traditional Marketing: a. Traditional Marketing Is Often Expensive: It can cost a lot of money to produce and print brochures, product sheets and catalogues. It further requires a lot of money in postage and shipping fees to send information to prospective customers.
www.ckundan.com.np 5 b. It Can Be A Very Time Consuming Process: Besides normal printing & distribution, if there occurs any mistakes, it may need to go back to the ad agency or printer to revise, add, delete or correct the details and it may take a long duration to publish and distribute it back to the customers. c. It often has A “Hit and Miss” Quality: Marketers often send out bulk of emails to customers and yet receive a tiny response. d. Other:  It is very difficult to promote the products, services or business globally.  More resources are required, which in terms require more funds.  Traditional marketing approaches do not offer access to services, products and businesses 24/7.  Hiring professional marketing or advertising agencies are pretty costly. E-Marketing: E-Marketing or electronic marketing refers to the application of marketing principles and techniques via electronic media and more specifically the Internet. The terms E- Marketing, Internet marketing, web marketing and online marketing, are frequently interchanged, and can often be considered synonymous. Fig: E-Marketing It includes both direct response marketing and indirect marketing elements and uses a range of technologies to help connect businesses to their customers. It consists of all activities and processes to find, attract, winning and retaining customers. The way it differs is its wider scope and options compared to conventional marketing methods. When implemented correctly, the Return on Investment (ROI) from E- marketing can far exceed that of traditional marketing strategies.