The basics of online marketing and electronic products in focus

In business practice the concept of online marketing and internet marketing are used interchangeably, which is quite legitimate, as the most of the e-marketing (another term, used more rarely) operations carried out today is the Internet.

  • The object of marketing activity on the electronic market is the information-analytical and expert-research activity of the enterprise using:
  • web-based information systems and technology at the option of the competitive position in this market;
  • the definition of strategies of promotion and distribution of goods;
  • selection of advertising and price policy taking into account all factors of external and internal environment in the conditions of risk and uncertainty.

The subject of marketing activity on the electronic market stands as a classic marketing activities initiated by the business owner or staff, although 3rd party organisations can be attracted. Cooperating with 3rd party companies can be a more effective option – thus, such agencies as HTP Digital, specialising in digital marketing Manchester area and UK region in general, boast impressive ROI numbers when it comes to promoting even such sophisticated services as plasmic burning or ultrasound cleaning. This activity is regulated by a specific technology with the use of methods of analysis and processing of digital information electronic market to achieve their goals. The process of marketing management in the electronic market reflects a set of operations and procedures performed by employees of marketing services in a specific sequence.

  1. It includes: collection and analysis of information about the behaviour of the market and competition on it by the opportunities of the Internet, the repository of corporate databases;
  2. examination of stochastic and dynamic processes in this segment of the market;
  3. modeling of psychological reactions of consumer behavior and strategies of the company in the electronic market in the conditions of risk and uncertainty, the formulation of new strategies for the development of current markets, market penetration, strategic alliances and consolidation, diversification strategies, and others.

In email marketing the same elements of the marketing mix are used – product, price, channel, promotion and relationship marketing paradigm. However, each element has its own characteristics. The Internet is not just a new sales channel and marketing communications tool, but the new market, which presents along with real, physically existing goods, electronic products – products (information) and electronic data processing services. Electronic products have similar features and can be classified into three categories:

  • Information and entertainment products (media, product information – specs, instructions, materials for training sales agents, graphic materials and images, audio materials – recorded music, speeches and presentations; videos – movies, television programs).
  • The characters, concepts, tokens (tickets and coupons order tickets, hotel accommodations, tickets to concerts, sporting events, financial certificates – checks, electronic means of payment, credit cards).
  • Processes and services (payment mechanisms; electronic messaging; processes that create customer value, purchase orders, journal entries, inventory records, contracts, auctions and e-marketplaces, distance learning, the provision of health and other interactive services, interactive forms of entertainment).

If demand for any commodity is determined by the individual needs and tastes of consumers, in the case of information products, individual preferences get more important as the process of consumption of these products is unique for every consumer. Therefore, sellers of such goods should carefully study the preferences of consumers to be able to, on the one hand, meet their individual needs, and on the other – to group them according to the similarities and differences in these preferences.