2020 Theses Doctoral

Essays on Advertising

Choi, Woohyun

According to eMarketer, the total advertising spend in US alone was estimated to be over $238 billion. Firms invest large amounts of money in advertising to promote and inform consumers about their products and services, as well as to persuade them to purchase. The broad theme of advertising has been examined from many different angles in the marketing literature, ranging from empirically measuring effects of TV ads on sales to analytically characterizing the key economic forces stemming from enhanced targetability in online advertising. The purpose of my dissertation is to study some of the key questions which remain unaddressed in the advertising literature. In the first essay, I examine firms' choices of advertising content in a competitive setting. I demonstrate that competitive forces sometimes induces firms to choose advertising content that shifts consumers' perception of product quality. While this strategy hurts firms in a monopoly setting, it increases their profits under competition because it may increase the utility of their offering in comparison with the competing offering. In the second essay, I investigate the optimal mechanism for selling online ads in a learning environment. Specifically, I show that when ad sellers, such as Google, design their ad auctions, it is optimal for them to favor new advertisers in the auction in order to expedite learning their ad performance. In the third essay, I study the impact of tracking consumers' Internet activities on the online advertising ecosystem in the presence of regulations that, motivated by privacy concerns, endow consumers with the choice to have their online activity be tracked or not. I find that when ad effectiveness is intermediate, fewer ads are shown to opt-in consumers, who can be tracked and have their funnel stages inferred by advertisers, than to opt-out consumers, who cannot be tracked. In this case, consumers trade-off the benefit of seeing fewer ads by opting-in to tracking (positive instrumental value of privacy) with the disutility they feel from giving up their privacy (intrinsic cost of privacy). Overall, these findings shed light on novel strategic forces that provide guidance for marketers' advertising decisions in three distinct contexts.

Geographic Areas

  • United States
  • Internet marketing
  • Internet advertising
  • Television advertising
  • Competition
  • Google (Firm)

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Essay On Advertisement

500 words essay on advertisement.

We all are living in the age of advertisements. When you step out, just take a quick look around and you will lay eyes upon at least one advertisement in whichever form. In today’s modern world of trade and business, advertisement plays an essential role. All traders, big and small, make use of it to advertise their goods and services. Through essay on advertisement, we will go through the advantages and ways of advertisements.

essay on advertisement

The Various Ways Of Advertisement

Advertisements help people become aware of any product or service through the use of commercial methods. This kind of publicity helps to endorse a specific interest of a person for product sale.

As the world is becoming more competitive now, everyone wants to be ahead in the competition. Thus, the advertisement also comes under the same category. Advertising is done in a lot of ways.

There is an employment column which lists down job vacancies that is beneficial for unemployed candidates. Similarly, matrimonial advertisement help people find a bride or groom for marriageable prospects.

Further, advertising also happens to find lost people, shops, plots, good and more. Through this, people get to know about a nearby shop is on sale or the availability of a new tutor or coaching centre.

Nowadays, advertisements have evolved from newspapers to the internet. Earlier there were advertisements in movie theatres, magazines, building walls. But now, we have the television and internet which advertises goods and services.

As a large section of society spends a lot of time on the internet, people are targeting their ads towards it. A single ad posting on the internet reaches to millions of people within a matter of few seconds. Thus, advertising in any form is effective.

Benefits of Advertisements

As advertisements are everywhere, for some magazines and newspapers, it is their main source of income generation. It not only benefit the producer but also the consumer. It is because producers get sales and consumer gets the right product.

Moreover, the models who act in the advertisements also earn a handsome amount of money . When we look at technology, we learn that advertising is critical for establishing contact between seller and buyer.

This medium helps the customers to learn about the existence and use of such goods which are ready to avail in the market. Moreover, advertisement manages to reach the nooks and corners of the world to target their potential customers.

Therefore, it benefits a lot of people. Through advertising, people also become aware of the price difference and quality in the market. This allows them to make good choices and not fall to scams.

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Conclusion of Essay On Advertisement

All in all, advertisements are very useful but they can also be damaging. Thus, it is upon us to use them with sense and ensure they are entertaining and educative. None of us can escape advertisements as we are already at this age. But, what we can do is use our intelligence for weeding out the bad ones and benefitting from the right ones.

FAQ on Essay On Advertisement

Question 1: What is the importance of advertisement in our life?

Answer 1: Advertising is the best way to communicate with customers. It helps informs the customers about the brands available in the market and the variety of products which can be useful to them.

Question 2: What are the advantages of advertising?

Answer 2: The advantages of advertising are that firstly, it introduces a new product in the market. Thus, it helps in expanding the market. As a result, sales also increase. Consumers become aware of and receive better quality products.

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The Effect of the Internet on Advertisement

Introduction, reduced costs of marketing, interactive customer response, target audience.

The adoption of disruptive technology has revolutionized business models around the globe. The advancement of communication and information technology continues to remodel the commercial and entrepreneurial climate; marketing issues, advertisements, accounting, and even issues of transfer pricing have greatly benefited from the advancement in technology. Specifically, the contribution of the internet to business transactions has inspired the growth and development of businesses (Iyer, 2012). This paper seeks to offer a consummate discourse on how the internet has evolved the management of business around the globe. This work shall explore the impact of the inception of the internet in the advertisement.

Conventionally, most business establishments prefer keeping their costs of business as low as possible while increasing the profit margins. Advertisement costs of business consume a sizeable fraction of the profit margin. The cost of marketing products is highly dependent on the number of people the message reaches. The internet provides an appropriate opportunity of reaching a considerable number of potential buyers at a relatively low cost. In comparison to other advertisement models, the internet propagates information over a larger area and market (Iyer, 2012). Consequently, the advancement of the market portfolio is set to increase with the proper use of the internet as an advertisement tool.

While other models of advertisement require large sums of investments to initiate, the cost of using the internet in advertisements is low. The costs of ensuring connectivity to the target market are affordable. Phenomena like social media, websites, blogs, and other media have provided very effective avenues where internet advertisement can be done. Organizations that have adopted these internet-advertising models have witnessed exponential growth in their market portfolio. Since several clients are reached, the market base of the company products is heightened but at a lower cost.

Customer response is perhaps one of the most significant types of business communication that traders seek. Good advertising strategies should focus on the need to receive a response from the client regarding the products and services of the firm. The internet has provided business organizations with a platform to receive customer responses in real-time. Businesses are capable of addressing very critical issues about their products and services when the communique cycle is superb (Iyer, 2012).

Evaluation of business growth is wholesomely dependent on the responses from the clients. Likewise, the assessment of the efficacy of any advertising process is reliant on the responses received from the clients; it is, therefore, noteworthy that businesses must appreciate these customer responses. The effect of these client responses on the business cannot be gainsaid, it improves the customer–business relationship and enhances the customer value relationship. Businesses that take their customer responses seriously improve their kindred with the clientele. Such organizations are likely to have an exquisite customer review. Because of good customer reviews, the organization is likely to increase its market niche; consequently, the revenue portfolio is likely to be increased.

The concept of advertisement in commerce is targeted at reaching a vast number of audiences. There is a need to widen the audience to make the products popular within a market stratum. Internet advertisement is popular with the youthful, technologically perceptive generation. This market “community” is very crucial for any business that seeks to expand its market on the global platform. The inception of social media has further influenced the efficiency of internet advertisement.

The popularity of the internet makes it fodder for advertisement. Pundits assert that the “congregation” of the target audience online makes it a very effective model of making adverts. Moreover, business organizations are capable of undertaking “structured” internet advertisements. Structured advertisement targets a specific cohort. The internet platform is fundamentally customized to meet the expectations of these cohorts (Jones, 2009).

The target audience of any advertising program in business organizations is a subset of the profitability of the business. Exploring the nexus between the audience of the business advertisements online and the growth of the business is, therefore, very significant in business analytics. It is, thus, important to note that because of an increased number of the target audience, the organization is strategically placed to brand itself amongst the prospective clients. A “popular brand” is a marketable brand in the business. The internet thus provides a very tangible foundation of ensuring that a large number of clients are reached and with the right message (Iyer, 2012).

Nevertheless, even as the organization heaps from the benefits of a huge market audience, the emphasis on the target group must also be considered. As mentioned earlier in this dissertation, any intelligible marketing procedure must take into account the composition of the audience in terms of age. Internet advertisement invariably offers business organizations an opportunity to focus their message on a specific cohort and model their message strategically and appealingly (Jones, 2009).

The relevance of the internet in the contemporary business template is eminent. The internet provides an effective model of injecting efficiency in the advertisement as a component of businesses.

Iyer, G. R. (2012). Internet-Enabled Linkages: Balancing Strategic Considerations with Operational Efficiencies in Business-to-Business Marketing. Journal of Business-to- Business Marketing , 11 (1-2), 35-59.

Jones, S. K. (2009). Business-to-business Internet Marketing: Seven Proven Strategies for Increasing Profits Through Internet Direct Marketing . New York, NY: Maximum Press.

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Internet Marketing Strategy Essay

Introduction, marketing strategy.

Our product (mobile phone accessory) is to be marketed to a specific age category (14-18 year olds), therefore the marketing strategy adopted has to appeal to this age group. Therefore, the marketing team will design a plan that targets the specified market segment. The strategy will involve the use of websites frequently visited by children between 14-18 years.

Before developing the marketing strategy for the mobile phone accessories, it is imperative that we analyze the nature and size of the market, then establish our presence in all the target markets through the web. The Strategy is outlined below:

The first stage is the development of the marketing plan. Our products will be sold in the African and Asian continents in bulk to wholesalers and stockists. Since we are a new supplier, we will devise ways of attracting people to our website, however, to turn visitors into buyers, we will to use a website interface that is friendly and easy to use (Laura 2011).

This stems from the fact that the target market is 14-18 year olds, and since these are children who cannot make their own purchases, our website will mainly target parents. Therefore, we will advertise our products in websites frequented by both adults and teenagers.

The second stage is to review the website. Statements such as “This site optimized for Internet Explorer 9” will be omitted since it will ‘scare away’ persons using Firefox or other web browsers, instead, we will use adequate visual representations or people donning our products and will use a Flash player.

An important technical design at this stage will be to use Search Optimization Engine (SEO) tools to help web users find our website (Fiona 2011). The website design will allow additions and updates.

The third stage is to use web analytics to learn about people who visit our site. The analytics will provide the number of visitors, keywords used by the visitors, sources of referrals, the proportion of visitors that actually made purchases and the number of visitors lost at each stage of the checkout process.

This information will assist us in revising the design of the website to ensure that the checkout process is as smooth as possible (Mohammed 2004).

The fourth stage is to promote our website through pay-per-click advertising (PPC) and other effective methods that will increase the flow of visitors to the site. PPC is faster than SEO and is more reliable (Charlesworth 2009). PPC also enables web designers to test numerous keywords at any one time so that they can know the set that has the highest ‘conversion rate’.

Conversion rate is defined as the number of visitors who make actual purchases. Once the most effective keywords are identified, then we can optimize the website by using these words to describe our products (Chaffey et al 2009).

The fifth stage is the rollout of our website with all the modifications that are bound to attract a steady number of visitors. Since the keywords have been optimized to achieve the highest conversion rate and the checkout procedure simplified, the role of the marketing at this stage is receive orders, process, and ship to customers.

Occasionally, the website is modified to inform customers of new products, or to match the website with the current trends. Success will not be achieved overnight, but through a dedicated team with support from the administration.

Chaffey, D., Ellis-Chadwick, F, and Mayer, R. (2009). Internet marketing: strategy, implementation and practice. NJ: Prentice Hall.

Charlesworth, A. (2009). Internet marketing: a practical approach . Oxford: Elsevier.

Fiona, M. (2011). Google Places: The Next SED Marketing Tool? Web.

Laura, L. (2011). Five Levels of Internet Marketing and the Sales Process Move your potential clients through a successful sales process . Web.

Mohammed, R., et al. (2004). Internet Marketing: Building Advantage in a Networked Economy. NY: McGraw-Hill, Inc.

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IvyPanda. (2022, April 13). Internet Marketing Strategy. https://ivypanda.com/essays/internet-marketing-essay/

"Internet Marketing Strategy." IvyPanda , 13 Apr. 2022, ivypanda.com/essays/internet-marketing-essay/.

IvyPanda . (2022) 'Internet Marketing Strategy'. 13 April.

IvyPanda . 2022. "Internet Marketing Strategy." April 13, 2022. https://ivypanda.com/essays/internet-marketing-essay/.

1. IvyPanda . "Internet Marketing Strategy." April 13, 2022. https://ivypanda.com/essays/internet-marketing-essay/.

Bibliography

IvyPanda . "Internet Marketing Strategy." April 13, 2022. https://ivypanda.com/essays/internet-marketing-essay/.

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Your Article Library

Essay on online marketing.

essay about internet advertising

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While each industry will evolve in a unique way, an examination of the forces influencing industry structure indicates that the deployment of Internet technology will likely continue to put pressure on the profitability of many industries.

If traditional marketing is about creating exchanges that simultaneously satisfy the firm and the customer, what is Internet marketing? Internet marketing is the process of building and maintaining customer relationships through online activities to facilitate the exchange of ideas, products and services that satisfy the goals of both parties.

1. Process:

Like a traditional marketing programme, an Internet-marketing programme involves a process. The seven stages of the Internet-marketing programme process are setting corporate and business-unit strategy, framing the market opportunity, formulating the marketing strategy, designing the customer experience, designing the marketing programme. These seven stages must be coordinated and must be internally consistent. While the process can be described in a simple linear fashion, the marketing strategist often has to loop back and forth during the seven stages.

2. Building and maintaining customer relationships:

The goal of marketing is to build and create lasting customer relationships. Hence, the focal point shifts from finding customer to nurturing a sufficient number of committed, loyal customers. Successful marketing programmes move target customers through three stages of relationship building: awareness, exploration and commitment. It is important to stress that the goal of Internet marketing is not simply building relationships with online customers. Rather, the goal is to build offline (as relevant) as well as online relationships.

The Internet-marketing programme may well be part of a broader campaign to satisfy customers who use both online and offline services, which can be devised in two as described below:

Phase one: Setting corporate and business-unit strategy :

Corporate strategy addresses the interrelationship between the various business units in a firm, including decisions about which units should be kept, sold or augmented. Business- unit strategy focuses on how a particular unit in the company attacks a market to gain competitive advantage.

Phase two: framing the market opportunity :

Phase two entails an analysis of market opportunities and an initial first pass of the business concept, that is, collecting sufficient online and offline data to establish the burden of proof of opportunity assessment. A simple six-step methodology helps evaluate the attractiveness of the opportunity.

These include: seeding the opportunity, specifying unmet or undeserved customer needs, identifying the target segment, declaring the company’s resource-based opportunity for advantage, assessing opportunity attractiveness and making the final go/ no-go decision. The final go/no-go choice is often a corporate or business-unit decision.

However, it is important to stress that marketing plays a critical role in the opportunity assessment phase. Internet marketing strategy is based upon corporate, business-unit and overall marketing strategies of the firm. The marketing strategy goals, resources and sequencing of actions must be tightly aligned with the business-unit strategy. Finally, the overall marketing strategy comprises both offline and online marketing activities.

1. Stage one: designing the customer experience:

Firms must understand the type of customer experience that needs to be delivered to meet the market opportunity. The experience should correlate with the firm’s positioning and marketing strategy. Thus, the design of the customer experience constitutes a bridge between high-level marketing strategy and marketing programme tactics.

(i) Awareness:

When customers have some basic information, knowledge or attitudes about a firm or its offerings but have not initiated any communications with the firm, they are in the awareness stage. Consumers become aware of firms through a variety of sources, including word-of-mouth, traditional marketing such as television advertising and online marketing programmes such as banner ads. Awareness is the first step in a potentially deeper relationship with the firm.

(ii) Exploration:

In the exploration stage, the customer (and firm) begins to initiate communications and actions that enable an evaluation of whether or not to persue a deeper connection. This stage is also likely to include some trial on the part of the customer.

Exploration is analogous to sampling songs, going on a first date or test driving a car. In the online world, exploration may take the form of frequent site visits, some e-commerce retail exchanges and possibly even the return of merchandise. It may include phone call follow-ups on delivery times or emails about product inventory. The exploration stage may take only a few visits or perhaps years to unfold.

(iii) Commitment:

In this context, commitment involves feeling a sense of obligation or responsibility for a product or firm. When customers commit to a website, their repeated, enduring attitudes and behaviours reflect loyalty. Commitment is a state of mind as well as a pattern of behaviour.

(iv) Dissolution:

Not all customers are equally valuable to the firm. In an industrial marketing context, managers often refer to the 80/20 rule of profitability. That is, 20 per cent of customers provide 80 per cent of the profit. By implication, therefore, a large number of customers are unprofitable or cost heavy to be served. Firms should segment their customers into most valuable and less valuable customers. The most valuable customers may be identified based on profit, revenue, and/or strategic significance.

2. Stage two: the Internet marketing mix:

The traditional 4Ps of marketing are product, price, promotion and place/distribution. All four of these choices are part of the Internet mix, along with two new elements: community and branding. Community is the level of interaction that unfolds between users.

Certainly, the firm can encourage community formation and nurture community development. However, community is about user-to-user connections. Branding is a critical component of building long-term relationships on the web. Thus, rather than view branding as a sub­component of the product, it is developed here as a moderating variable upon the levers- product, pricing, communication, community and distribution.

(i) Product:

The product is the service or physical goods that a firm offers for exchange. A wide range of product forms are being offered on the Internet, including physical goods (e.g. clothing), information-intensive products (e.g. Wall Street Journal online) and services (e.g. online grocers). Frequently, the offerings are a combination of all three forms.

In the course of building customer relationships, the firm can use a variety of product levers to build enduring customer relationships. Product packaging is often used to build customer awareness, upgrades and complementary services enable customers to explore a deeper connection and customized offerings strengthen commitment. The key point is that specific product levers can be used to encourage a stronger connection.

Price is critical because it influences the perceived customer value (the complete product offering minus cost is often termed customer value). Traditional levers include such potential choices as tiered loyalty programmes, volume discounts, subscription models and targeted price promotions. The Internet has created an entirely new category of pricing tools for new-economy firms to use, including dynamic pricing strategies.

(ii) Communication:

Marketing communication can also encourage exploration, commitment and dissolution. For example, viral marketing (where one user informs another user about a site through email) often leads to exploration of a firm’s offerings by new customers. Also, permission marketing (where customers opt to receive communications from the firm) is intended to encourage commitment to the firm. Both offline and online communication levers can encourage customers to build a stronger bond with the firm and should be integrated into any marketing programme.

(iii) Community:

Community is defined as a set of interwoven relationships built upon shared interests, which satisfy members’ needs otherwise unattainable individually. One of the unique aspects of the Internet is the speed with which communicates can be formed. Equally important is the impact that these communities can have on the firm.

A critical question confronting Internet marketers is how communities should be leveraged to build deep customer relationships. Communities can be leveraged to build awareness (e.g. user-to-user communication to make others aware of a product promotion), encourage exploration (e.g. user groups discussing which automotive options to purchase or not purchase), and commitment (e.g. bonds between users lead to deepening involvement with the site.

(iv) Distribution:

The Internet is simultaneously a completely new form of commerce—a revolution in how customers and firms interact—and a distribution channel for the firm’s products. With respect to the role as a distribution channel, the Internet has the power to shift customers to a new channel or to use this channel in combination with other channels (e.g. search the Internet and then purchase at the retail store).

Distribution levers include the number of intermediaries (both online and offline), the breadth of channel coverage, and messaging from the channels. Broad levels of distribution impact both customer awareness and the potential for more customer exploration of the firm and its offerings.

(v) Branding:

Branding plays two roles in marketing strategy. First, branding is an outcome or result of the firm’s marketing activities. Marketing programmes affect how consumers perceive the brand, and hence its value. Second, branding is a part of every marketing strategy. That is, each marketing activity is enhanced if the brand is strong or suppressed if the brand is weak. Branding levers work in concert with other marketing levers to produce positive financial and/or customer results for the firm.

The first concept is individual-level marketing exchange. In addition to high levels of interactivity, customers expect to have a personal experience with the firm. Broadcast approaches send the same messages to all members of the target audience.

The Internet enables the firm to engage in customer-specific actions—a broadcast to an audience of one. Equally important, the customer can control the degree of customization by taking action to set the level of customization he or she desires. Hence, the amount of individualization can be controlled either by the firm or by the customer.

Interactivity is defined as the extent to which a two-way communication flow occurs between the firm and customers. The Internet enables a level of customer dialogue that has not previously been experienced in the history of business.

Certainly customers could have conversations with retail-store clerks, sales representatives, or managers; however, it was not possible at the scale that the Internet affords. Hence, the fundamental shift is one from broadcast media such as television, radio and newspapers to one that encourages debate, exchange and conversation.

Pricing can be both interactive and individualized—indeed, that is the essence of dynamics pricing. And market communications can be both interactive and individualized that is the purpose of real-time customer service on the web. Furthermore, products and services can be designed in real-time by the customer, maximizing both interactivity and customization. This level of dialogue has revolutionized the marketing.

3. Stage three: crafting the customer interface:

The Internet has shifted the locus of the exchange from the marketplace (i.e. face-to-face interaction) to the market space (i.e. screen-to-face interaction). The key difference is that the nature of the exchange relationship is now mediated by a technology interface. This interface can be a desktop PC, a notebook, personal digital assistant, mobile phone. Wireless Applications Protocol (WAP) device or other Internet-enabled appliance.

As this shift from people-mediated to technology-mediated interface unfolds, it is important to consider the types of interface design considerations that confront the senior management team. What is the look-and-feel or context, of the site? Should the site include commerce activities? How important are communities in the business model?

4. Stage four: evaluating the marketing programme:

This last stage involves evaluation of the overall Internet marketing programme. This includes a balanced focus on both customer and financial metrics.

Customer advocacy and insight :

An insatiable curiosity for customers and marketplaces is a necessity for today’s marketing professional. This innate curiosity is an individual’s desire to transform mounds of customer data into meaningful and actionable insights, which in turn become a platform for advocacy.

Because the Internet enables a much greater degree of interaction with customers, designing and promoting these interactions around customers’ needs and progressively gaining deeper insights are critical components of creating positive customer experience.

A true customer advocate will be looking to provide demonstrable added value to each customer interaction to form the basis for a meaningful relationship. As both customer behaviours and enabling technologies simultaneously evolve, a deep understanding of customer needs should serve as the guidepost driving marketing decisions.

Marketing professionals will need to strategically collect information from many disparate sources, create insightful customer mosaics and effectively translate them into marketing strategies and tactics. Look at the impact of Internet on marketing strategy (Figure 7.7). This summarizes the advantage of connecting to all markets.

Impact of Internet on Marketing Strategy

Integration :

The Internet represents both a new channel and a new communications medium. The new-economy marketing professional needs to have an integrated or holistic view of the customer and the enterprise in order to create a uniquely advantaged strategic plan.

In today’s multichannel environment, a consistent message and experience must be maintained across customer touch points in order to create a consistent brand image. Beyond strategy, a marketing manager must fundamentally understand how to integrate these new tools into the overall marketing mix. Managers who are able to hone their marketing plan in a highly integrated fashion are more likely to capitalize on the synergies between marketing elements and thus drive greater effectiveness.

Today’s online marketing professionals must have the basic skill set of offline marketing professionals. But they must also react more quickly and manage more information and channels in order to stay one step ahead of the competition. The skill set has not changed tremendously, but the tools need to be applied with more vigour and sometimes with greater speed. Successful Internet marketers will build their models and value propositions around a deep understanding of customer needs, not around the product.

The Internet and Industry Structure :

The Internet has created some new industries such as online auctions and digital marketplaces. However, its greatest impact has been to enable the reconfiguration of existing industries that had been constrained by high costs for communicating, gathering information, or accomplishing transactions. Distance learning, for example, has existed for decades, with about one million students enrolling in correspondence courses every year.

The Internet has the potential to greatly expand distance learning, but it did not create the industry. Similarly, the Internet proves an efficient means to order products, but catalogue retailers with toll-free numbers and automated fulfillment centres have been around for decades. The Internet only changes the front end of the process. Look at leading retailing chain Kmart transact with customers through its web portal (Figure 7.8).

Kmart's Web Portal

Whether an industry is new or old, its structural attractiveness is determined by five underlying forces of competition: the intensity of rivalry among existing competitors, the barriers to entry for new competitors, the threat of substitute produces or services, the bargaining power of supplies, and the bargaining power of buyers.

In combination, these forces determine how the economic value created by any product, service, technology, or way of competing is divided between, on the one hand, companies in an industry and, on the other, customers, suppliers, distributors, substitutes, and potential new entrants.

Although some have argued that today’s rapid pace of technological change makes industry analysis less valuable, the opposite is true. Analysing the forces illuminates an industry’s fundamental attractiveness, exposes the underlying drivers of average industry profitability, and provides insight into how profitability will evolve in the future.

The five competitive forces still determine profitability even if suppliers, channels, substitutes, or competitions change.

Since the strength of each of the five forces varies considerably from industry to industry, it would be a mistake to draw general conclusions about the impact of the Internet on long- term industry profitability; each industry is affected in different ways. Some of the trends are positive. For example, the Internet tends to dampen the bargaining power of channels by providing companies with new, more direct avenues to customers.

The Internet can also boost an industry’s efficiency in various ways, expanding the overall size of the market by improving its position relative to traditional substitutes. In 2009, corporate and SMEs understood globally that only technology-based solution through Internet helped them to tide over the recession.

But most of the trends are negative. Internet technology provides buyers with easier access to information about products and suppliers, thus bolstering buyer bargaining power. The Internet mitigates the need for such things as an established sales force or access to existing channels, reducing barriers to entry.

By enabling new approaches to meeting needs and performing functions, it creates new substitutes. Since it is an open system, companies have more difficulty maintaining proprietary offerings, thus intensifying the rivalry among competitors.

The use of the Internet also tends to expand the geographic market, bringing many more companies into competition with one another. And Internet technologies tend to reduce variable cost and tilt cost structures toward fixed cost, creating significantly greater pressure for companies to engage in destructive price competition (Figure 7.9).

The Wireless Application Protocol (WAP) Architecture for Wireless Internet Services to Mobile Information Appliances

The myth of the first mover :

The advantage of being ‘first’ or ‘pioneering’ the technology will not last long for an Internet based company. Take the case of tendering or sourcing supply for a company’s raw material/ accessory. Here ‘switching over’ is easy for both buyers and sellers.

On the Internet, buyers can often switch suppliers with just a few mouse clicks, and new web technologies are reducing switching costs even further. For example, companies like PayPal provide settlement services or Internet currency—so-called e-wallets—which enable customers to shop at different sites without having to enter personal information and credit card numbers.

Content-consolidation tools such as One Page allow users to avoid having to go back to sites over and over to retrieve information by enabling them to build customized web pages that draw needed information dynamically from other sites. The widespread adoption of XML standards will free companies from the need to reconfigure proprietary ordering systems and to create new procurement and logistical protocols when changing suppliers.

Internet brands have also proven difficult to build, perhaps because the lack of physical presence and direct human contract makes virtual businesses less tangible to customers than traditional businesses. Despite huge outlays for advertising, product discounts, and purchasing incentives, most dot.com brands have not approached the power of established brands, making modest achievements on brand and customer loyalty.

Another myth that has generated unfounded enthusiasm for the Internet is that partnering is a win-win means to improve industry economics. While partnering is a well-established strategy, the use of Internet technology has made it much more widespread. Partnering takes two forms. The first involves complements: products that are used in tandem with another industry’s product.

In Internet commerce, complements have proliferated as companies have sought to offer broader arrays of products, services, and information. Partnering to assemble complements, often with companies who are also competitors, has been seen as a way to speed industry growth and move away from narrow-minded, destructive competition. Look at how amazon.com transacts its business with global customers through its portal (Figure 7.10).

Amazon.com offers discounts to Lure Customers

With the Internet, widespread partnering with producers of accessories like automobile may exacerbate automobile industry’s structural problems. As partnerships proliferate, companies tend to become more alike, which heats up rivalry.

Instead of focusing on their own strategic goals, companies may forced to balance the many potentially conflicting objectives of their partners while also educating them about their business model. Rivalry often becomes unstable, and since producers of accessories can be potential competitors, the threat of entry increases.

Another common form of partnering is outsourcing. Internet technologies have made it easier for companies to coordinate with their suppliers, giving widespread currency to the notion of the ‘virtual enterprise’—a business created largely out of purchased products, components and services. While extensive outsourcing can reduce near-term costs and improve flexibility, it has a dark side when it comes to industry structure.

As competitors turn to the same vendors, purchased inputs become more homogeneous, eroding company distinctiveness and increasing price competition. Outsourcing also usually lowers barriers to entry because a new entrant need only assemble purchased inputs rather than build its own capabilities. In addition, companies lose control over important elements of their business, and crucial experience in components, assembly, or services shifts to suppliers, enhancing their power in the long run.

The future of Internet competition :

Consider the intensity of competition, for example, many dot coms went out of business in 2001 just after the dot.com crash. While some consolidation among new players is inevitable, many established companies are now more familiar with Internet technology and are rapidly deploying online applications (Figure 7.11).

Connecting Telecommunication and Mobile Technology Networks with Internet

With a combination of new and old companies and generally lower entry barriers, most industries will likely end up with a net increase in the number of competitors and fiercer rivalry than before the advent of the Internet.

The power of customers will also rise. As buyers’ initial curiosity with the web wanes and subsidies end, companies offering products or services online will be forced to provide real benefits. Already, customers appear to be losing interest in services like Priceline. Com’s reverse auctions because the savings they provide are often outweighed by the hassles involved.

As customers become more familiar with the technology, their loyalty to their initial suppliers will also decline; they will realize that the cost of switching is low. Take the case of Geojit, an online trader who is driving the business with trust and demat accounts (www (dot)geojit(dot)com). The company charges lowest brokerage of 0.03 per cent for day trading, 0.3 per cent for delivery and Rs75 per lot for F&O (futures & options).

The company handles 1, 50,000 traders everyday and managing assets under custody of over Rs6, 000 crore. Its trading portal gives a new experience to the online traders with latest technology and of course cheapest price. The company promotes its services and adds customer base under the banner ‘Fair and Transparent Trade’ through a toll-free number. Website and branches across the country.

For increasing its credibility this Kochi-based company registered itself with SEBI, NSE, BSE, and NSDL and operates its portfolio manager under INP 00000316 is really commendable. Look at how MCX is influencing the traders (Figure 7.12).

MCX: Capitalizing on Fluctuating Commodity Prices

A similar shift will affect advertising-based strategies. As it is, advertisers are becoming more discriminating, and the growth of web advertising is slowly catching the mind of Indian customers. Most banking, financial services, insurance, travel and tourism, and ticketing (air, road and train) concerns are making use of web advertisements effectively.

Advertisers can be expected to continue to exercise their bargaining power to push down rates significantly, aided and abetted by new brokers of Internet advertising. Advertisers can be expected to continue to exercise their bargaining power to push down rates significantly, aided and abetted by new brokers of Internet advertising.

Some technological advances will provide opportunities to enhance profitability. Improvements in streaming video and greater availability of low-cost bandwidth, for example, will make it easier for customer service representatives, or other company personnel, to speak directly to customers through their computers. Internet sellers will be able to better differentiate themselves and shift buyers’ focus away from price. And services such as automatic bill paying may modestly boost switching costs.

In general, however, new Internet technologies will continue to erode profitability by shifting the power to customers. To understand the importance of thinking through the longer-term structural consequences of the Internet, consider the business of digital marketplaces.

Such marketplaces automate corporate procurement by linking many buyers and suppliers electrically. The benefits to buyers include low transaction costs, easier access to price and product information, convenient purchase of associated services, and, sometimes, the ability to pool volume.

The benefits to suppliers include lower selling costs, lower transaction costs, access to wider markets, and the avoidance of powerful channels. Take the case of Dovetail, a Bangalore- based logistics company which provides composite technologies to design, build and deliver logistic solutions by following converging development and prototyping with simultaneous roll-out model (www(dot)dovetail(dot)com).

It is a true gift to SMEs to integrate technologies in their business portfolio. In India www (dot) rediff mail (dot) com makes it possible for both the rural and urban Indians to purchase the latest products by placing orders from their homes and assured delivery within a week. Here the payment mode is VPP or pay-by-cash at home. EBay is the most popular auction site in India too, with a car being purchased every nine minutes and a cell phone every minute!

From an industry structure standpoint, the attractiveness of digital marketplaces varies depending on the products involved. The most important determinant of a marketplace’s profit potential is the intrinsic power of the buyers and sellers in the particular product area. If either side is concentrated or possesses differentiated products, it will gain bargaining power over the marketplace and capture most of the value generated.

If buyers and sellers are fragmented, however, their bargaining power will be weak, and the marketplace will have a much better chance of being profitable. Another important determinant of industry structure is the threat of substitution.

If it is relatively easy for buyers and sellers to transact business directly with one another, or to set up their own dedicated markets, independent marketplaces will be unlikely to sustain high levels of profit. Finally, the ability to create barriers to entry is critical. Look at electronic platform for trading Rubber Futures Contract (Figure 7.13).

JADE. TSR 20's e-trading Platform

Today, with dozens of marketplaces and with buyers and sellers dividing their purchases or operating their own markets to prevent any one marketplace from gaining power, it is clear that entry barriers are a real challenge to profitability. Competition among digital marketplaces is in transition, and industry structure is evolving.

Much of the economic value created by marketplaces derives from the standards they establish, both in the underlying technology platform and in the protocols for connecting and exchanging information. But once these standards are put in place, the added value of the marketplace may be limited.

Anything buyers or suppliers provide to a marketplace, such as information on order specifications or inventory availability can be readily provided on their own proprietary sites. Suppliers and customers can deal directly online without the need for an intermediary. And new technologies will undoubtedly make it easier for parties to search for and exchange goods and information with one another.

In some product areas, marketplaces should enjoy ongoing advantages and attractive profitability; in fragmented industries such as real estate and furniture, for example, they could prosper. New kinds of value added services might arise that only an independent marketplace could provide.

But in many product areas, marketplaces may be superseded by direct dealing or by the unbundling or purchasing of information, financing, and logistical services. In other areas, they may be taken over by participants or industry associations as cost centres. In such cases, marketplaces will provide a valuable ‘public good’ to participants but will not likely reap any enduring benefits.

Over the long-haul, moreover, we may well see many buyers back away from open marketplaces. They may once again focus on building close, proprietary relationships with fewer suppliers using Internet technologies to gain efficiency improvements in various aspects of those relationships.

In India the model which is emerging is an integrated one, i.e. the combined world of text, visuals, videos, photos and online tours clubbed with physical examination of touch and feel of the product under consideration. Hence, Zodiac offers online dressing solutions by offering nearly 4,000 patterns and styles and inviting customers to the nearest Zodiac outlet for physical verification.

Of course, seeing is believing as far as Indians are concerned, and Zodiac’s model works well. The Future group is planning its online electronic mall NEXT, where physical verification of the inventory is made possible through physical NEXT outlets.

The largest retailer Shopper’s Stop, which touched a retail turnover of Rs 3007.2 billion in the second quarter ended September 2007, however, uses websites only for informing its customers and prospects about new arrivals and sending emails to its first citizens (loyalty card for their customers) about discounts. Shopper’s stop has 22 stores in 12 cities but has failed to get any advantage through the Internet revolution as e-campaigns fail to provide the customer with the store ambience.

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The Importance of Internet Marketing

Introduction, advantages and disadvantages of internet marketing, impact on industries.

Internet marketing is also known as online marketing, Internet advertising, web marketing, or eMarketing which significantly signifies a business transaction and various marketing of products through the use of the internet. Marketing over the internet works together with the artistic and technical sense of the internet. These comprise web design, development, advertising, and sales. Internet marketing does not just mean creating a website or placing advertisements on it though. Its efficiency needs a wide-ranging strategy that will synergize the business structure of a company and attain its objectives. Considerations such as website function, its appearance, and the way it attracts website visitors should be highlighted in the determination of its successful marketing strategy (Fisk et al., 2004).

Internet is seen to be one of the major innovations when it comes to marketing and it has brought a lot of advantages in the field. Having an interactive sense of internet marketing, can give immediate responses and extract those responses as a means of a unique distribution channel. Internet marketing is sometimes taken more largely because it points out to the digital media through internet, electronic mails and wireless form of media (Kotler, 2003). However, internet marketing also involves the systems wherein electronic relationship management is applied as well as the management of digital customer data. Moreover, web marketing may also mean placing a media of the different customer relations through search engines (Lovelock and Wirtz, 2004). Advertising over the internet directory is usually non-paid and links to the business’ website directly. Giving customers the information they want from a product, will be very convenient for them to scan the web pages and save time instead of picking up the phones to ask questions about the ad (Jones and Coviello, 2005). However, one indeed does not have to create a website to market products online, but it is more advisable to own one especially for larger firms to have more efficiency in their marketing deals.

Internet marketing history began in the past decades though this seemed to be not broad and limited advertisements were only seen because of people’s unawareness of such trends. Advertising online started its consistent fame during the year 1994 and increased its worth to the industry up until 1997 and now (Jeyaraj et al., 2006). Web sites are developed for the companies in each industry with various kinds of products available for all kinds of consumers. And hence, other firms started to realize that a website should be backed up by many advertisements linked to other sites to create traffic among various sites that serve as their competitors (Houghton and Winklhofer, 2004; McFarland and Hamilton, 2006).

Looking forward with other competitors in a domestic and global sense, many firms have now emerged into the inclusion into the use of the internet in their marketing plans (McDermott and O’Connor, 2002). Just like for example the IBM Corporation and Microsoft Corporation, they are considered to be two of the most progressive technology company in the world but still, they set a lot of effort and spend millions of money for internet marketing. And this primarily applies to a business-to-business transaction. The developing technology on the internet such as Yahoo!, enabled small firms to upstart internet marketing through placing banner ads on the site and be able to promote the business. Yahoo! is just an example where various internet marketing can be visualized and its operation widely caters to the system and processes of internet marketing with its activities. This form of technology connects businesses worldwide and significantly impacts the process of selling industrial goods and services (Grandon and Pearson, 2005).

Internet marketing is not as expensive as marketing through print, TV, radio, and other forms of media. Cost can be minimized and time can be saved as well the marketer’s effort. A business-to-business transaction relatively needs this innovation to be able to promote a wide-ranging technique of communicating and selling goods and services through other business organizations (Fillis and Wagner, 2005). The nature of the medium tolerates consumers to acquire information about the product and buy products and services with no hassle. Hence, businesses get the advantage of attracting other firms to do business and bring apparent results. The impact may account for the efficiency of the business strategies and may attain the goals and manage its cost- volume- profit well.

Marketers also are seen to be advantageous through using the internet as their distribution channel and in evaluating statistics (BarNir et al., 2003). All areas of an internet marketing campaign can be managed and assessed properly. Advertisers as well can utilize different kinds of techniques such as pay per click, pay per play, and other similar terms that entail how a certain website gets compensated through the visits of other business firms and consumers (Bengston et al., 2007). In this technique, marketers can keep track of each product which businesses, in particular, are interested in. Such kind techniques can not be obtained from other kinds of media.

However, disadvantages most especially for a business-to-business transaction among marketers can cause internet marketing a way to build a non-personal relationship between buyers and sellers wherein an unsure deal may arise. This points out the gap in reality because internet marketing accounts for a process of non-personal selling. Though products and services can be seen and described over the website of a business, still it lacks the sense of touch and sometimes unsatisfactory for the products and services may largely arise and internet marketing somehow are vulnerable to different kinds of fraud. But this is just a case-to-case basis of what the real world of innovation brings (Storey, 2003).

In 2007, internet marketing grew rapidly. The exposure, response, and totality of the internet’s efficiency are seen through other forms of media. Internet marketing can provide a more sense of accountability for the advertisers and depict a B2B marketing transaction. Marketers and their clients comprehend more in evaluating the collaborative effects of marketing such as how it affects the sales of stores (Fillis et al., 2004). The impact of this multichannel marketing can be very hard to recognize but appears to be an essential part of appreciating and assessing the worth of each marketing campaign through different forms of media (Eyuboglu and Kabadayi, 2005).

Internet marketing can be viewed in various ways such as the terms e-commerce, lead-based websites, publishing, and affiliate marketing though other business models are used as a marketing campaign over the internet (Drucker, 2002). E-Commerce is the term used for the goods sold directly to the consumers or businesses (Daniel et al., 2002). Lead-based websites signify the acquisition of sales just through the websites and the sale of advertising is coined as publishing. Affiliate marketing on the other hand promotes sales through giving incentives for the visitors of the websites like the free screen savers that appear every time you click on a particular page.

The techniques of internet advertising have been drastically affected by the innovations in technology through the telecommunications industry. Some firms adapted to the new trends of telecommunications such as broadband and as simple as text ads. Advertisers can now more function well about the commitments and management of online branding with other firms. Lack of personal transaction and inability to ensure that fraud does not arise, broadband was introduced to act and do business transactions accordingly. This enables viewers to see a TV-like advertisement with just the click of a mouse and set a particular objective of reaching the target audience explicitly. In this trend, dealing with business transactions can be through a face-to-face manner though other parties are located afar. This is just one famous trend that emerges in internet marketing today. Blogs, voice broadcast, spam are just examples of terms and known trends in digital marketing. The blog is a user-generated website where most businesses start today. Various kinds of posts can be seen on blogs and is a good way of advertising and marketing a product. For an instance, an entrepreneur starts up a jewelry business and posts his or her crafts on the blog wherein visitors can be potential buyers (Cooney, 2005). In many instances, business affiliations arise in this form of advertising wherein a simple blog site turns out into a bigger business and can put up a company.

Internet marketing largely impacts many retail-oriented industries such as films, banking, telecommunication, pharmaceuticals, and advertising. Today, internet marketing in some way has replaced radio marketing about its market share. For music industries, a lot of consumers, B2B and B2C, are now into purchasing and downloading music online. Banks offered the capability of performing banking tasks online and it has increased over the years. Online banking is viewed to get the attention of consumers because it is more convenient especially for large businesses (Johnson and Bharadwaj, 2005). Fast growth in the online banking industry has emerged and almost half of the internet users transact with banking activities over the internet.

Auctions over the net have also taken their place and various items are made available specifically on eBay. E-Stores such as eBay are seen to be a result of marketing innovation where a market can execute the process of exchange through businesses to other businesses. The outcome on the advertising industry itself has been intense. For a short period, online advertising has developed to be valued like tens of billions of dollars yearly. Internet marketing has had an increasing impact on the electoral process as well. In the present year, candidates for Presidency use Internet marketing strategies to appeal to people.

In real-life situations, the impact of exchanges over the internet on business-to-business distribution provides a higher level of service and forecloses entry opportunities. In this case, the new online business firms planned to influence the ability of the internet in lessening costs and take away the inefficiencies in the conventional industrial value chains. It is more supposed that conventional channel intermediaries will be restricted in the process. In contradiction with all the suppositions, online trading exchanges still is not perfect in general. There is evidence that buyer-sponsored exchanges can be successful in assisting buyers to purchase goods and services in a B2B online exchange. However, there are lots of reasons which are highlighted because of their lack of success that comprise of inertia among the industrial buyers in utilizing new technologies for procurement, and the significance of the human touch, regulatory concerns, and the vital restrictions of existing Web technologies. In addition, it is not clear that a network focused on a distributor will refuse to accept being transformed into a series of joint trades. Still, the resistance is certainly what confused the designs of entrepreneurs who introduced internet-based transactions.

Generally, the impact of internet marketing in a B2B sense considers a wide efficiency in the market. Advantages and disadvantages it may bring but still, the overall impact benefits the business firms all over the world. Internet on domestic and global marketing and selling of industrial goods and services to businesses innovates and develops new trends in marketing. This is effective as well because all businesses are now into the use of internet marketing in small and large firms (Jones et al., 2003). This links between domestic and global areas wherein businesses around the globe are given opportunities to market products and services in all kinds of industries. It will also open new channels for the firms to distribute products and reach a worldwide market.

BarNir, A., Gallaugher, J. M. and Auger, P. (2003) ‘Business Process Digitization, Strategy, and the Impact of Firm Age and Size: The Case of the Management Publishing Industry’, Journal of Business Venturing 18(6): 789–814.

Bengston, M., Boter, H. & Vanyushyn, V. (2007). “Integrating the Internet and Marketing Operations; A Study of Antecedents in Firms of Different Size”, International Small Business Journal, Vol 25(1): 27–48.

Cooney, T. M. (2005) ‘Editorial: What is an Entrepreneurial Team?’, International Small Business Journal 23(3): 226–35.

Daniel, E., Wilson, H. and Myers, A. (2002) ‘Adoption of E-commerce by SMEs in the UK’, International Small Business Journal 20(3): 253–70.

Drucker, P. F. (2002) Innovation and Entrepreneurship . Oxford: Butterworth Heinemann.

Eyuboglu, N. and Kabadayi, S. (2005) ‘Dealer-Manufacturer Alienation in Multiple Channel System: The Moderating Effect of Structural Variables’, Journal of Marketing Channels 12(3): 5–27.

Fillis, I., Johansson, U. and Wagner, B. (2004) ‘A Qualitative Investigation of Smaller Firm E-business Development’, Journal of Small Business and Enterprise Development 11(3): 349–61.

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    2. Stage two: the Internet marketing mix: The traditional 4Ps of marketing are product, price, promotion and place/distribution. All four of these choices are part of the Internet mix, along with two new elements: community and branding. Community is the level of interaction that unfolds between users.

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