Presentation on theme: "Chapter 10: E-Branding – Building the brand online."— Presentation transcript:
Chapter 10: E-Branding – Building the brand online
Contents Concept of e-business E-business strategies Building a brand online
Introduction The world wide web has opened a set of whole new opportunities for organizations. From the traditional brick and mortar firms, we now have click and mortar firms (i.e. present online and available at a physical store also, e.g. HP Laptops, Amul, etc.) and even virtual organizations (only present online and do not have a physical store, e.g., amazon.com).
Progression from physical to virtual stores Physical stores Virtual stores Brick and mortar companies Click and mortar companies Click-only/ virtual companies
What is E-business strategy E-business is the use of the digital media or the electronic media to reach out and connect with the consumers. It includes buying and selling goods and services, servicing customers, collaborating with business partners, and conducting electronic transactions within an organization. An e-business strategy complements the traditional means of marketing rather than cannibalizing it. It adds value and an integration of the traditional and internet methods ‘creates potential advantages for established companies’. Organizations can conduct business electronically, for example through mobile phones or the internet, and leverage the experience and know- how to maximize value for the customers.
E-Business strategy Create a website Place ads online Using s Setting up or participating in online social networks
Marketing and the internet The internet has helped physical companies move from the market-place to the market space (when customers meet virtually to conduct business transactions). The vice-versa is also true wherein companies, after establishing themselves successfully in the market space, have come to the market-place. The internet provides a number of benefits over the traditional stores and helps companies to stay connected with the consumers at the click of a mouse. The consumers can easily access information from their homes, offices, and even on the move through their laptops and mobile phones that help them to stay connected online. The internet provides a wealth of information about brands, their prices, what the brand-owning organizations have to say about themselves, and also what the consumers say on the different blog sites, i.e. online word-of-mouth or word-of-mouse. The internet has helped organizations to progress from just providing information about their products to selling their brands and to help build customer relationships online.
Product Some products can be completely digitalized for easy distribution on the internet, for example music, books, software, etc. For other types of products, organizations can get direct feedback from consumers about their expectations and experiences, and thereby tailor their products according to the tastes and preferences of the consumers. Changes in the brand experience can be incorporated with the help of the consumer’s feedback and suggestions. The consumers can also be involved in the co-creation by providing customization options
Pricing The internet helps in connecting directly with the consumers. The intermediaries are removed from between and the margin can then be an extra profit for the organizations or can be passed as discounts to the consumers.
Place The internet is a distribution media. The websites of organizations are online places where they interact and provide brand related information and experience to the consumers. The companies can also use these websites for the entire supply chain management, i.e. for both procuring raw material from suppliers and selling finished products to the customers.
E-Business and Branding Internet has the potential to facilitate new business concepts and also provide improved competitiveness by increasing efficiencies in purchase and delivery of products. However, just rushing in to adopt new technologies without strategizing for the overall brand building and delivery of value to the customers can be a ‘recipe for disaster’. Internet as a medium gives rise to new branding opportunities for third parties that ‘neither produce a product nor deliver a primary service’ Strong and successful brands reinforce and enhance effectiveness of the online brand strategy and lead to success on the internet
E-branding techniques Integration of the online and offline brand experience User-friendly site Interactive chats Lively online communities Domain names Brand spiralling Mobile marketing Location based mobile
Quick Recapitulation Concept of e-business E-business strategies Building a brand online