Download VTU MBA 4th Sem 16MBAMM403-E-Marketing E marketing Management Module 2 -Important Notes

Module - 2

Overview of the E-Market Planning Process

1. How can IT assist marketers in building revenue and lowering cost?
2. How can firms identify a sustainable competitive advantage in the internet with a changing landscape?

The answer lies in determining how firms and information technologies both effectively...

--- Content provided by FirstRanker.com ---

Best firms have clear visions that they translate into the marketing process, from e-business objectives into e-marketing goals & well-executed strategies for achieving those goals.

This marketing process entails three steps:

• Marketing plan creation
• Plan implementation
• Plan evaluation/corrective action

--- Content provided by FirstRanker.com ---

Ex 3.1

E-Marketing Planning Process

• The e-marketing plan is a blueprint for strategy formulation and implementation.
• The plan serves as a road map to guide, allocate resources, and make decisions.

It is a guiding, dynamic document that links business strategies (models) with technology-driven strategies & lays out details for plan implementation and management.

--- Content provided by⁠ FirstRanker.com ---

Two Common Types of Plans:

• Napkin plan
  • Entrepreneurs may jot down ideas on napkins.
  • Large companies might create a just-based, bottom-up plan.
• The Venture Capital E-Marketing Plan: A more comprehensive plan for entrepreneurs seeking start-up capital.

--- Content provided by​ FirstRanker.com ---

Sources of Funding:

• Bank loans
• Private funds
• Angel investors
• Venture capitalists (VCs)

--- Content provided by⁠ FirstRanker.com ---

Seven-Step E-Marketing:

1. Situation analysis
2. E-Marketing strategic planning
3. Objectives
4. E-Marketing strategy

--- Content provided by⁠ FirstRanker.com ---

5. Implementation plan
6. Budget
7. Evaluation plan

SWOT Analysis Leading to E-Marketing Objective

E-Marketing Objective: $500,000 in revenues from e-commerce in...

Step 2: E-Marketing Strategic...

• Market and product strategies, called Tier 1 Tasks strategies, are outcomes of strategic planning.
  • Segmentation

  --- Content provided by‌ FirstRanker.com ---

  • Targeting
  • Differentiation
  • Positioning
• Marketers conduct analysis to determine...
  • Market opportunity analysis

  --- Content provided by​ FirstRanker.com ---

  • Demand analysis
  • Segment analysis
  • Supply analysis

Step 3: Objectives

--- Content provided by‍ FirstRanker.com ---

• An objective in an e-marketing plan should include the following aspects:
  • Task (what is to be accomplished)
  • Measurable quantity (how much)
  • Time frame (by when)

Step 3: Objectives, cont.

--- Content provided by FirstRanker.com ---

• Most e-marketing plans aim to accomplish goals such as the following:
  • Increase market share
  • Increase the number of comments on...
  • Increase sales revenue
  • Reduce costs
  • Achieve branding goals

  --- Content provided by FirstRanker.com ---

  • Increase database size
  • Achieve customer relationship management
  • Improve supply chain management

Step 4: E-Marketing Strategy

--- Content provided by⁠ FirstRanker.com ---

• Tier 2 strategies include strategies for the 4 P's and relationship management to achieve objectives.
  • Product strategies
  • Pricing strategies
    • Dynamic pricing
    • Online bidding

--- Content provided by FirstRanker.com ---

Step 4: E-Marketing Strategy

• Distribution strategies
  • Direct marketing
  • Agent e-business models
• Marketing communication strategies

--- Content provided by‍ FirstRanker.com ---

• Relationship management strategies
  • Some firms use CRM (customer relationship management) and PRM (partner relationship management) to integrate customer communication and information into a database.

Steps 2, 3, and 4 of the E-Marketing Plan

Step 5: Implementation...

• Tactics are used to achieve plan objectives.
  • Marketing mix (4 Ps) tactics

  --- Content provided by‌ FirstRanker.com ---

  • Relationship management tactics
  • Marketing organization tactics
    • Staff
    • Department structure
  • Information-gathering tactics
    • Web site log analysis

    --- Content provided by‌ FirstRanker.com ---

    • Business intelligence and secondary research

Step 6: Budget

• The plan must identify the expected e-marketing investments, including:
  • Cost/benefit analysis

  --- Content provided by‌ FirstRanker.com ---

  • ROI calculation
  • Internal rate of return (IRR) calculation
  • Return on marketing investment (ROI)

Step 7: Evaluation Plan

--- Content provided by‍ FirstRanker.com ---

• Marketing plan success depends on accurate evaluation.
  • E-marketers must have tracking systems to measure results.
  • Various metrics relate to specific plan objectives.
• Today's firms are ROI driven.
  • E-marketers must show how intangible benefits lead to higher revenue.
  • Accurate and timely metrics can help control expenditures.

  --- Content provided by FirstRanker.com ---

For further study, visit: FirstRanker.com