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There is much debate as to whether traditional marketing fundamentals can be applied to e-marketing. The answer varies from marketer to marketer. I, however, believe that traditional marketing fundamentals can and should be applied to e-marketing as outlined in this report. Marketing contains products and services that are offered for a fee. Said products and services must be conveyed to the buyers by a method of delivery. Promotion and advertising retain a significant share of the procedure these days. (Internet marketing strategy, 2005)
The micro-environment directly influences an organization. In a live chat Joe Melle states that the micro-environs consist of dealers either directly or indirectly, purchasers and end users, and additional interested parties. The micro-environment designates the association between organizations along with the forces influencing marketing.
The macro-environment consists of uncontrollable elements that affect the business. These external factors include laws, culture, politics, economies, technology, competition, and demographics. This broader environ is continually transforming causing the business to adapt and offset the transformations. (The marketing environment, 2010)
A SWOT analysis is used to assess the environs of the business as the principal phase in preparation, which allows marketers to concentrate on vital concerns. SWOT is the acronym for strengths, weaknesses, opportunities, and threats. An interior analysis identifies strengths and weaknesses. The exterior analysis also known as the environmental analysis identifies opportunities and threats.
The marketing strategy process begins with the marketing mix. The marketing mix is a set of controllable, tactical marketing tools that the organization blends to produce the result it wants in the target market. The four P’s of marketing are product, price, promotion, and place. Product refers to the goods or services offered to the target market to satisfy its needs. This consists of what is done to create an appealing product to the end user. Product resolutions include branding, warranty, quality, safety, packaging, support, and functionality. Price consists of the amount of money the customer has to pay to obtain the product or service, along with any non-financial costs such as time, hassle, and convenience, among others.
Promotion refers to those activities that communicate the merits of the product or service and persuade the consumer to purchase it. Such activities include mass selling (advertising and publicity), sales promotion (contests, coupons, freebies), and personal selling (direct contact with potential customer). The key is to ensure that the forms of promotion are properly integrated so that they all communicate the same image and message.
Place includes everything the organization does to make its services available to the target consumer. This involves deciding where the target customers are to sell them the product and how to attract them. “Place also includes the channels of distribution or the middlemen used to get the product to the customer, market coverage, logistics, inventory management, warehousing, distribution centers, order processing, transportation, and reverse logistics” (The marketing mix, nd.).
Target market, customer characteristics, and consumption behaviors are influenced by the value proposition, product dimensions, positioning, targeting, and brand value. Value proposition is a statement of why a consumer should buy your product. Product dimensions are basic operating characteristics of products and services such as features and benefits. Positioning is the creation of an image for the brand, product, and company in the mind of the consumer. Positioning is the consumers’ perception. Targeting determines who to market to. Brand value is the core values and qualities that sum up a brand or product. (CTUOnline, 2010)
An example of a “traditional” marketing agency is The Phelps Group in Santa Monica, California. They are leaders in integrated marketing services for healthcare, financial, retail, home & garden, travel & tourism, telecommunications, and technology industries. Their services include print advertising, billboards, television, direct, promotions, collateral, consumer ads, trade ads, public relations, and brochures. In the health industry Phelps specifically utilizes print, billboards, and television.
TopRank Online Marketing based in Spring Park, Minnesota is a good example of an online marketing agency. TopRank services include search engine optimization, online public relations, social media marketing, and email marketing.
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