Im reading E-marketing by Judy Strauss this days and is fascinated by the subject. Since the book is published in 2006 I thought of writing some updated posts about interesting facts there.
You can also find these blogs in - http://www.ribelz.com/emarketing-blog.html
Technology effects traditional ways of marketing in three ways. IT increases efficiency in marketing, it transforms marketing strategies and it changes the consumer behavior due to the power shift from firms to mouse holders.
Lets discuss how electronic technologies effect the famous 4 Ps in marketing
1.Product
It has produced variety of innovative products from E-greeting cards(Our client sending flowers for orders in website - www.bloomroom.lk is a good example), internet auctions to interactive games.
2.Price
Technology made it possible to do anything to the price. Bidding, dynamic changes and individual pricings are a matter of blink of an eye.
Good example is an email i received yesterday by CIMA division saying i can get a special discount because i participated in CIMA business competition.
"Dear Student,
Once they know my login they can easily discount my price (Individual pricing) without any paper work. This kind of dynamic pricing is possible only because of technology.
3.Place
IT made it very easy to distribute items. For e.g. You no longer needs Lady Gaga's new album to be shipped from US - you can simply download it. Technology made such products placeless!
4.Promotion
Technology assists is numerous ways to promotion, from Websites, emails, SMSs to live chatting. Do you remember MP Basil Rajapakshe's advertisements in Facebook during last election? Promotion to 80,000 voters might not have been easier.
The effect by technology to marketing is inevitable. Watch out for more changes in the future. But the question is, "ARE YOU READY FOR THE CHANGE?"
You can also find these blogs in - http://www.ribelz.com/emarketing-blog.html
Technology effects traditional ways of marketing in three ways. IT increases efficiency in marketing, it transforms marketing strategies and it changes the consumer behavior due to the power shift from firms to mouse holders.
Lets discuss how electronic technologies effect the famous 4 Ps in marketing
1.Product
It has produced variety of innovative products from E-greeting cards(Our client sending flowers for orders in website - www.bloomroom.lk is a good example), internet auctions to interactive games.
2.Price
Technology made it possible to do anything to the price. Bidding, dynamic changes and individual pricings are a matter of blink of an eye.
Good example is an email i received yesterday by CIMA division saying i can get a special discount because i participated in CIMA business competition.
"Dear Student,
We thank you for your participation in the CIMA Global Business Challenge 2010.
As an incentive for taking part in the CIMA Global Business Challenge we are pleased to inform you that you can now register for CIMA at a very special rate of GBP 20. The normal rate being GBP 60. This offer is valid till 30 September 2010...."
Once they know my login they can easily discount my price (Individual pricing) without any paper work. This kind of dynamic pricing is possible only because of technology.
3.Place
IT made it very easy to distribute items. For e.g. You no longer needs Lady Gaga's new album to be shipped from US - you can simply download it. Technology made such products placeless!
4.Promotion
Technology assists is numerous ways to promotion, from Websites, emails, SMSs to live chatting. Do you remember MP Basil Rajapakshe's advertisements in Facebook during last election? Promotion to 80,000 voters might not have been easier.
The effect by technology to marketing is inevitable. Watch out for more changes in the future. But the question is, "ARE YOU READY FOR THE CHANGE?"
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