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Lecture on Implementing Interactive and Multichannel Marketing

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Presentation on theme: "Lecture on Implementing Interactive and Multichannel Marketing"— Presentation transcript:

1 Lecture on Implementing Interactive and Multichannel Marketing

2 10-year trend in Internet/Web users and online retail sales revenue in the United States

3 Customer Value Creation in Market-space
CREATING CUSTOMER VALUE, RELATIONSHIPS, AND EXPERIENCES IN THE NEW MARKETSPACE Customer Value Creation in Market-space Interactivity, Individuality, and Customer Relationships in Marketspace Choiceboard Collaborative filtering Personalization Permission marketing

4 CREATING CUSTOMER VALUE, RELATIONSHIPS, AND EXPERIENCES IN THE NEW MARKETSPACE
Creating an Online Customer Experience

5 Website design elements that drive customer experience

6 ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE
The Online Consumer Profiling the Online Consumer

7 Internet web access at home among U.S. households

8 Online consumer sales by product/service category: 2001 and 2005

9 Why consumers shop and buy online

10 ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE
Why Consumers Shop and Buy Online Convenience Bots Eight-second rule Choice Customization Customerization

11 ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE
Why Consumers Shop and Buy Online Communication Web communities Spam Viral marketing

12 ONLINE CONSUMER BEHAVIOR AND MARKETING PRACTICE IN MARKETSPACE
Why Consumers Shop and Buy Online Cost Dynamic pricing Control Portals Cookies

13 MULTICHANNEL MARKETING TO THE ONLINE CONSUMER
Integrating and Leveraging Multiple Channels with Multichannel Marketing Implementing Multichannel Marketing Multichannel Marketing with Transactional Websites Multichannel Marketing with Promotional Websites

14 The multichannel marketing mutiplier
JC Penney Customers The multichannel marketing mutiplier

15 Implementing multichannel marketing with promotional websites

16 Interactive Marketing
Two-way buyer-seller electronic communications in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller.

17 Choiceboard An interactive, Internet/Web-enabled system that allows individual customers to design their own products and services.

18 Collaborative Filtering
A process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases.

19 Personalization The consumer-initiated practice of generating content on a marketer’s website that is custom tailored to an individual’s specific needs and preferences.

20 Permission Marketing The solicitation of a consumer’s consent (called “opt-in”) to receive and advertising based on personal data supplied by the consumer.

21 Customer Experience The sum total of interactions that a customer has with a company’s website.

22 Online Consumers The subsegment of all Internet/Web users who employ this technology to research products and services and make purchases.

23 Bots Electronic shopping agents or robots that comb websites to compare prices and product or service features.

24 Eight-second rule Customers will abandon their efforts to enter and navigate a website if download time exceeds eight seconds.

25 Customerization The growing practice of customizing not only a product or service but also personalizing the marketing and overall shopping and buying interaction for each customer.

26 Web Communities Websites that allow people to congregate online and exchange views on topics of common interest.

27 Spam Electronic junk mail or unsolicited .

28 Viral Marketing An Internet/Web-enabled promotional strategy that encourages users to forward marketer-initiated messages to others via .

29 Dynamic Pricing The practice of changing prices for products and services in real time in response to supply and demand conditions.

30 Portals Electronic gateways to the World Wide Web that supply a broad array of news and entertainment, information resources, and shopping services.

31 Cookies Computer files that a market can download onto the computer of an online shopper who visits the marketer’s website.

32 Multichannel Marketing
The blending of different communications and delivery channels that are usually reinforcing in attracting, retaining, and building relationships with customers.

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