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Marketing

Definition

Marketing is “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”1) Internet marketing is also known as digital marketing or online marketing. It is marketing of products or services on the internet.

Online Marketing

To retrieve informations from the internet, users have to use their computer actively and visit websites specifically. So the internet is a pull medium that requires a higher involvment of the users than in traditional media. This suggests that the retrieved brand messages are perceived more intensely and thus the quality of the contacts is higher than in traditional media.

The abolition of geographical limitations brings a unmanageable wide range of Internet brands. The benefit of brands on the internet for consumers is their orientation and guiding function that reduce search costs for consumers.

Conventional online advertising is with 52.9% of the online advertising gross volume 2) still the most common form of online advertising. Search Marketing accounts for 39.7% of the online gross advertising volume. The OVK predicts keyword marketing with 15%, the largest growth potential. 3) search engine marketing consists of two areas: Keyword Marketing is the targeted advertising in the context of related searches. SEO or Search Engine Optimization http://en.seowiki.info/ encompasses all actions that brings the relevant website to the top of the search results in Search Engines.

Some scientists stress that marketing is not a new discipline on the internet but only marketing under a different banner.4) Others see a fundamental change in marketing through the new involvement of consumers in the world of Web 2.0.5)

Brands

On the Internet, neither the physical examination of the product, nor the personal contact with the seller is possible. In addition to that, there is an increased risk due to transportation routes and money and data transactions. So brands offer a risk reduction, since a user can expect the familiar quality from a brand. The entry and exit barriers are very low on the internet. The internet is characterized by fast reaction times, e.g. by competitors. Certain facilities and services and the price can be copied within a short time and can not lead to Unique Selling Proposition. The differentiation function of the brand thus gains even more importance on the web.

In the context of brand management on the internet it is necessary to harmonize all the online marketing tools and focus them on the brand identity. The medium allows more personalized marketing, so every marketing activity on the internet should be optimized on its potential to be personalized.

For the implementation of marketing activities, it is important to consider the origin and the type of the brand. Sabel differs between:

- Online brands (Digital or internet brands, virtual oder e-brands)

- Offline brands (Traditional brands)

- Hybrid brands (Crossover brands)6) 7)

Strategies for Online Marketing

FIXME

Tools

Search engine marketing is very efficient and performance-based. Branding Effects are marginal.

  • E-mail marketing is a direct marketing tool that is very similar to the classic direct marketing with postal mailings. Advantage of e-mail Marketing to print mailing is the short lead time. It can therefore respond very up to date on current events. Furthermore, it causes only minor material costs.
  • Social Media describes the web services and platforms, which are characterized by mutual networking and the sharing of information. Ideologically, social media is based on the idea of Web 2.0 and consists primarily of user-generated content. There is a high involvement of users in social media. Companies have to pay attention to the fact, that marketing in the environment of social media is longer a one way communication because there is a backchannel and an exchange with other consumers. Social Media consists of
  • Video-Ads: Video-Advertising guarantees a maximum attention and high click-rates. Generally, there is a differentiation between in-page-ads and in-stream-ads:
    • In-page ads: the video is placed in a classical display ad-space (for example: leaderboard, medium rectangle or wide skyscraper). The video is either playing in a loop or just one time with a default image at the end. The videos are played without sound respectively the sound can be activated by the user.
    • In-stream ads: the video is placed in front, in the middle or at the end of a streaming video content (similar to television). The different placements are called pre-roll, mid-roll and post-roll.8)
  • Search Engine Marketing (SEM)

Further Readings

1)
The Definition of Marketing. American Marketing Association. http://www.marketingpower.com/AboutAMA/Pages/DefinitionofMarketing.aspx. [Retrieved 2011-05-12]
2)
See OVK Online-Report 2010/01, www.ovk.de [Retrieved 2011-05-12].
3)
See OVK Online-Report 2010/01, www.ovk.de [Retrieved 2011-05-12].
4)
See Klein-Bölting, U. / Busch, O. (2002): Markenführung im Digital Age. http://www.bbdoconsulting.com/cms/de/publikationen/brand_managemen/brand_management/pdf/archiv/2000_05_Markenfuehrung_im_Digital_Age.pdf [Retrieved 2011-05-02].
5)
See Sonnenburg, S. (2009): Swarm Branding. Markenführung im Zeitalter von Web 2.0, Wiesbaden, 2009, p. 9.
6)
See Sabel, T. (2007). In: Backhaus (Hrsg.): Marken im Internet. Vahlen Verlag, München,Online Communities 2007, S. 25.
7)
Also: ONE Brand O(ld)-N(ew)-E(conomy) brands: Fantasie Altobelli, Claudia: Internet-Branding: Marketing und Markenführung im Internet, Stuttgart: Lucius und Lucius, 2001, p. 6.
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fundamentals/marketing.txt · Last modified: 2012/05/09 19:06 (external edit)