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MARK 430 INTRODUCTION The impact of the internet on marketing Week 1.

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1 MARK 430 INTRODUCTION The impact of the internet on marketing Week 1

2 What is internet marketing? Online marketing/ eMarketing / digital marketing / web marketing / internet marketing? The application of the internet and related digital technologies in conjunction with traditional communications to achieve marketing objectives ……Dave Chaffey http://www.smartinsights.com/digital-marketing-strategy/online-marketing-mix/definitions-of-emarketing-vs-internet-vs-digital-marketing/

3 Why study internet marketing? Over the past 20 years traditional marketing practices have been transformed – October 27, 1994 – first banner adfirst banner ad – Digital marketing continues to grow and attract marketing dollars – The influence of Web 2.0 in the late 90s and early 2000s, product digitization, and now the impact of mobile computing – Continuing strong growth in business-to-consumer and business-to- business eCommerce New skills, knowledge and strategies in high demand in the business world – very strong demand in this areavery strong demand in this area Marketers need to understand technology and collaborate with IT colleagues

4 TECHNOLOGIES

5 Technologies used in marketing Web (HTML 5 / CSS 3) Instant messaging SMS (Text messaging) “over-the-top” messaging via data (eg. Viber, WhatsApp) Voice and Video over IP (VOIP) eMail P2P file exchange / streaming technologies Location-awareness / location based services (LBS) Mobile Apps (native to mobile operating systems) Augmented Reality (AR) Near-field communication (NFC) iBeacon and Bluetooth Low Energy Virtual reality (VR) Voice and image recognition

6 Consumer Devices Mobile – Cell phones and smart phones – eReaders – Tablets – Wearables (glasses, watches, rings, bands, tattoos etc) Desktop – Personal computers (desktop and laptop) – Gaming consoles – VR/AR headsets and motion detectors Internet of Things (IoT)

7 THE 4PS IN TRANSITION

8 The impact of the Internet on the traditional marketing mix framework Product – new products, the rise of the “prosumer” Price – dynamic pricing, comparison pricing, bidding……..FREE! Place – direct distribution of digital products, supply chain management, channel integration Promotion – new social and communications media, measurable advertising Strong trend towards personalization and away from the mass (undifferentiated) market affecting all the elements of this framework The Six “I”s Framework – Interactivity – Intelligence (market) – Individualization – Integration – Industry restructuring – Independence of location MacDonald and Wilson. The New Marketing, 2002 Source: eMarketing eXcellence. 2012. Smith &Chaffey

9 Interactivity The internet is not TV Conversation rather than broadcast Pull (inbound marketing) rather than push (outbound marketing) Active rather than passive (lean-forward medium) Social Networking / User Generated Content Source: eMarketing eXcellence. 2012. Smith &Chaffey

10 [Market] Intelligence By the very act of using the internet, we are “telling” marketers what we want: Passively Clickstream data Web analytics Actively Social network updates, photos, videos, reviews, forum postings etc Source: eMarketing eXcellence. 2012. Smith &Chaffey

11 Individualization The market of one: based on the information about customers that we provide, and that is collected automatically and monitored constantly Amazon for example Amazon Traditional media Same message to all customers or segments New media Message tailored to each customer or micro-segment Source: eMarketing eXcellence. 2012. Smith &Chaffey

12 Integration Online marketing is very readily integrated into a marketing communications strategy Internet channels complement and integrate with offline marketing channels Source: eMarketing eXcellence. 2012. Smith &Chaffey

13 Industry restructuring and Independence of location INDUSTRY RESTRUCTURING Disintermediation – traditional intermediaries used by marketers disappearing Re-intermediation new intermediaries (eg. PayPal) Business models challenged LOCATION INDEPENDENCE Increased reach to global markets Increased exposure Increased competition Source: eMarketing eXcellence. 2012. Smith &Chaffey

14 Product trends online Digital value – adding value to products through online means Digitization – product or place? Personalization – individualized products and the “prosumer” Source: eMarketing eXcellence. 2012. Smith &Chaffey

15 Digital goods distribution Any product that can be digitized can be delivered over the Internet Online distribution costs are significantly lower – No inventory problems – No product depletion Completely new business models based on digital distribution methods Internet becomes a direct substitute for an offline distribution channel eg. online banking Source: eMarketing eXcellence. 2012. Smith &Chaffey

16 Some industries that are undergoing rapid change due to Internet forces affecting product and place Recorded Music industry Video/DVD rental industry Newspaper and magazine publishing Banking Book publishing “Sharing economy” industries (Taxis, hotels) Forces for change: – Digitizable product – Self service – Direct to consumer shift – Personalization

17 Pricing Internet influences – buyer and seller perspectives of price Moving from free to fee (and freemium) LinkedIn Shockwave.com (casual games) Newspaper “paywalls” Price comparisons / transparency Dynamic pricing Source: eMarketing eXcellence. 2012. Smith &Chaffey

18 Online promotion We will look at the many new techniques available to marketers to promote goods and services online The big value of internet marketing – Ability to measure results (performance based) – Ability to use unmediated data about customer behaviour and preferences Source: eMarketing eXcellence. 2012. Smith &Chaffey

19 OWNED, EARNED, AND PAID MEDIA

20 Owned, earned and paid media Definitions from Dave Chaffey – Paid media: “media where there is investment to pay for visitors, reach or conversions through search, display ad networks or affiliate marketing.” (online and offline) – Earned media: “publicity generated through PR invested in targeting influencers to increase awareness about a brand. Of course, it’s still an investment. Earned media also includes word-of-mouth that can be stimulated through viral and social media marketing and includes conversations in social networks, blogs and other communities.” – Owned media: “media owned by the brand. Online this includes a company’s own websites, blogs, mobile apps or their social presence on Facebook, LinkedIn or Twitter. Offline owned media may include brochures or retails stores.” http://www.smartinsights.com/digital- marketing-strategy/customer-acquisition- strategy/new-media-options/

21 Owned, earned & paid media (Chaffey) http://www.smartinsights.com/digital- marketing-strategy/customer-acquisition- strategy/new-media-options/

22 Owned, earned and paid media: role, benefits & challenges http://www.smartinsights.com/digital- marketing-strategy/customer-acquisition- strategy/new-media-options/

23 The internet marketing toolbox BloggingMobile General social networks Niche social networks Search engine optimization AR, VReMail Search advertising Twitter Interactive display advertising Video

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