Lecture 6

Internet Marketing - Slides

  • Internet marketing is important
    • Advertising pays for much of the services and content offered on the internet
      • Similar to TV ads paying for TV shows and sporting event telecasts
    • Fast-growing industry
    • Allows buyers and sellers to do things they couldn't do before
    • Television advertising is becoming less effective
  • Definition of marketing - creating profitable transactions
    • Involves many activities. Internet can help with most of them.
    • Marketing includes buyers searching for sellers and sellers searching for buyers
    • Internet offers capabilities not available offline
      • Personalization
      • Tracking
      • Feedback and analysis
    • Also imposes additional demands on marketers
      • Multi-way communication
      • Multiple influencers - blogs, customer reviews, discussion boards
      • Need to manage the conversation
    • Marketing communication requires attention to be effective
      • The economics of attention
        • Attention is scarce and hence valuable
        • People will pay for it
        • Location, location, location
          • Makes FaceBook and MySpace valuable
        • Creates the advertising industry
      • Marketing communication influences each step in the customer buying process
        • Stimulus
        • Search
        • Buy
        • Progressive.com and Amazon.com try to influence search by being destinations
  • Marketing basics
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