This report is equipped to make a study on the preparation and presentation of Online Marketing Trends of Bangladesh as a part of the BBA program for the Department of Business Administration, University of Liberal Arts Bangladesh. As the classroom discussion alone cannot make students to know about the real life circumstances, therefore it is an opening for the students to know about the practical environment of the real business world through this program. A student requires carrying out an extensive analysis of real world business problem and thereby preparing a report on the solution to the problem. In relation to that I chose the report on “Online Marketing Trends in Bangladesh”.
1.2 Problem Statement
Internet marketing, or online marketing,
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Moderating variables for instance gender, age, involvement, variety seeking behavior and technophobia exert a significant influence on some of the proposed relationships. These results have a number of inferences for those companies which want to increase loyalty on the sector.
First, the online marketing has a direct and an indirect impact on both significance and trust. Consumers tend to have much trust on online media of marketing and it reaches the target customer more effectively.
Second, traditional marketing is a time-tested marketing technique. However, the progresses and novelties brought by technology can built-up optimistic opportunities and widen prospects for profit.
Internet marketing allows to reach out to an extensive target audience without having to pay a lot. With online marketing, marketers are spared from the high costs of promotion. Simply put, internet marketing is superior to traditional marketing.
2.1 Online Marketing
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Figure 1: Online Marketing Process
2.1.1 The Integrated Marketing Communication
For years, traditional marketing has dominated the market with traditional marketing activities in the country. And the name of online marketing was little known to the marketers and promoters. It had only little market share. To support through the process in the market, the online marketing created a groundbreaking new advertisement strategy on an integrated marketing communication campaign including interactive, and indoor advertising as well as providing online banners. Public relations were focused on brand awareness and brand value.
The marketers made campaigns to promote online advertising in the market. Not only did the companies completely renovate the marketing process but it also placed full gesture interactive advertising on the other sides as
It is creating a dialogue with customers and potential customers. There are various ways to use interactive marketing such as search engine marketing, video marketing, email marketing. Building a competitive web presence is very important. Engaging the customer. We can create blog and update it regularly.
Having internet access as one of the products, advertising through the company’s web site is utilized to let customers browse the products and services, as well as some of the basic pricing techniques. AT & T (JASPREET SINGH/PRN-14020541149) SEGMENTATION AND
During this generation, technology has taken drastic steps and has evolved quicker than anyone would’ve ever imagined. In the article, “Marketing New Inventions” by Robert Rodriguez, the author talks about how a new original invention would come out, and how to make them popular. For instance, inventors Shelly Conte and Cindy Reichman invented the hide-and-seek doll, which made a hit in the Toys R US stores and it made them a fortune. Soon enough, new toys and copycats came out and there would be disputes about who came out with the product first. Each inventor has to play smart and keep their new toy hip and in-style.
Digital marketing isn’t simple as many people think. There are numerous cases of these strategies failing for some service providers. Studies reveal that digital strategies fail for some people because they do it for themselves or hiring a young and inexperienced computer marketing Companies. Experienced agencies have experience handling numerous tasks. Additionally, they have hired experienced technicians.
TCii (2011) describes the importance of digital marketing that as the world is moving from analogue towards digital, people are consuming more and more digital content on a daily basis just as increased usage of mobiles, computers at works laptops and other gadgets-the companies who have yet not recognized this in their marketing strategies need to adopt it fast. The pace at which world is focusing on digital marketing it is possible that soon it will eliminate the traditional forms of
Identify the target customers Marketing techniques should de clearly defined Proper website should be defined Unique logo and product designed. Share for expert opinion Create a social and proactive strategy According to the literature
Introduction Every business organization is using a marketing concept which is used as a tool to identify customer’s needs. And further try to meet them by making right decisions in line with customer’s needs. In line with meeting customer’s needs the ultimate goal of every business is to gain profit. That’s why they make use of different marketing strategies to meet not only the need of the customer but as well as the goal of the company. We know for a fact that marketing strategies comprises everything from developing a product, to introducing it to the market, to selling and improving it as the need of the target market changes.
Francis Aguilar (1967) is the first known reference to the origin of the PESTEL analysis. In his study known as Scanning the Business Environment, he studied the environmental factors that affect business environment and come up with the first acronym ‘ETPS’ which meant the Economic, Technical, Political and social factors (Aguilar, 1967). Later Arnold Brown (1967) focused on the study and came up with a new perspective towards the study of social-technical, economic, political, and ecological (STEPE) factors. In 1980, Porter among other authors scanned the business environment and came up with the current acronym PESTEL meaning political, economic, social, technological, legal, and environmental factors (FME, 2013). According to Collins (1997),
Causes According to Amin & Noor (2013), the E-consumers generally refer to the purchaser of goods and services over electronic systems such as Internet and other computer networks. This new group of consumers is increasing in number over the years as on-line shopping become a trend and manifestation of modern life style. Based from the Paynter & Lim (2001), E-commerce would provide consumers with benefits such as interactive communications, fast delivery, and more customization that would only be available for consumers through online shopping. Product information in the Internet is more compact and it ranges from various sites.
Nowadays hospitality and tourism industry is one of the main industry in this world. A lot of people need a place to escape from their routines or even just to stay overnight as they having a business trip to other places. We call these people as customer or guest. Human mobility from one place to another , both in the country and from and abroad is very high. Human mobility is not only related to business activities but also recretional activities.
Marketing communications are known as the most visible aspect of the marketing mix that helps to enhance the brand awarness of the company. In order to prosper in the long term, any company needs to develop an effective marketing campaign to maintain the interest of the existing customers as well as to attract the potential buyers (Cai & Huang, 2011). Mass marketing is highly effective tool to catch the attention of the million buyers, however it will not help to construct the relationships with them. Therefore, the more personal communications needed, such as direct marketing, to understand the consumer’s needs. However, the integration of communication tools helps to overcome both challenges, as the mix helps to create the brand awarness
Since the beginning of the 1990’s, e-commerce has radically changed consumer behaviour by introducing new retail channels (Ngai and Gunasekaran, 2007). Serious attempts to trade online started to emerge in the mid-1990s wheninnovative, technically savvy companies responded to the opportunities and challenges posed by the internet, to develop sophisticated web sites to serve customers, in their homes (Rayport and Sviokla, 1994). The present retail environment is characterised by new, store and non- store, retailing formats, a wide range of new products, use of new information and communication technologies and consequently, the changing customer needs. Moreover, the dynamic lifestyle conditions of consumers has resulted a change in their personal environment that contributes to a profound change in customer behaviour (Schröder and Zaharia, 2008). Retailing in the 21st century means doing business with customers on their terms (Mathwicket al., 2002).
Most people today, own one at least one technological device which could be one of the access platforms that form online channels the company may apply for their digital marketing to achieve profitability and retention of customers. Chaffey and Ellis-Chadwick (2012) state that a digital marketing strategy is constantly needed to provide a sense of direction for an organization’s online marketing activities so that they integrate with its other marketing activities and support its overall business goals. According to Parise et al.
Marketing procedure received by the organization relies on upon the objective business sector for the organization managements and items through the inside and out business sector examination and business sector division. Marketing main aim is to locate the purchaser conduct and promoting the items and managements to the potential client. Advertising management is management of marketing procedure which concentrates on the pragmatic utilization of promoting introduction, systems and techniques inside endeavors. Advertising management is the management of association. The Role of Marketing Managers are: Marketing Objectives: Marketing Manager as the prime key to advertising management dissect and set the target of the promoting which are in the line ups of the organization either which are fleeting and any long haul.
2. Introduction Defining an effective Marketing Communication Plan and Communication Mix through a well researched strategy will not only help to reach out to potential customers, but it will also help to adapt and respond to the ever changing marketing environment. This report starts by examining the various promotional tools used by marketers in the marketing of their products and services, including the advantages and disadvantages of the tools. The report goes on to examine the meaning of Integrated Marketing Communication (“IMC”) and the importance of measuring the effectiveness of the Promotional Campaign.