Individual Essay:
Importance of Branding in E-commerce Industry
ASSIGNMENT SPECIFICATION:
Course
: MSc. In Marketing
Module Title: Integrated Marketing in the Digital Age
Module Code: B9MK106
Lecturer’s name: Shaun Hayden
Word Count: 2500 words
Student Name: Shreyansh Khanna
Student Email: Shreyansh.khanna@gmail.com
Student Number: 10184461
Date: 08/04/2015
Table of Content
Heads Page No.
Introduction
3
Key Drivers 4
E-commerce Marketing Trend 6
Indian Perspective E-commerce Industry 8
E-commerce Luxury Industry 9
Conclusion
10
Introduction
The success of any firm is directly proportionate to the impact that it creates on the mind of the customers especially the brand image, which is centric
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Nowadays, with everything being digital and fast paced , the new developments in the technology sector has contributed to the e-commerce industry in the field of mobile technology, social media and personalization . These recent developments have bought a shift in the e-commerce marketing strategies.
• Mobile Technology
With smartphones ruling our lives in the digital space mobile shopping or in terms of marketing know as shop as you go has become a key marketing trend. The first digital shopping store was opened in Korea in March’2015 (7)which has been a recent new trend.
As mobile shopping is more convenient and saves time the e-commerce world has created mobile enhanced websites which attracts most of their branding strategies and leading to higher sales. Also, with this new trend mobile advertising is another trend in the digital e-commerce space and is a popular way to do branding and large e-commerce stores are using it heavily to attract customers. Another aspect, which is yet to shape at a larger scale, which is next upcoming trend, is mobile video ads, which will be another changing face in the e-commerce
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It has totally re-shaped the economy and adding a huge potential and changing the way business is being done. It has created an advantage for the sellers along with the buyers (8). With the large amount of disposable income the buying power has increased and the goods bought over the internet is more attractive and convenient for consumers across the region.
According to researchers the industry will be seeing a rise from US $5.9b 2010 to US $ 34.2b in 2015 (8). Looking at the changing trends major players like Flipkart, Snapdeal and Amazon have been following asset light model as compared to traditional inventory based model, which has been the turning point with the sector (9). Also, with cash on delivery and 28 days return policy has been the branding perspective within the Indian continent has influenced consumers to buy more online and this branding strategy has been significant to their growth.
According to researchers at Google it has been estimated that the customer base within the Indian e-commerce is be close to 100 million customer base by 2016. The present valuation of the e-commerce industry in India is close to 3billion but with the rapid branding and buying pattern it is expected to reach close to $15 billion by 2016
Thanks to the rapid growth in the online retail sites as well as the mobile devices, the online shopping markets have gained significant support. According to Best et al, “57.2% of the American Population has satisfactory access to the internet [and roughly 33.6% of the population has some sort of subscription to mobile internet as well]”
The variety and assortment of products in today’s world is growing heavily making consumer decisions harder and harder. Thus, the need of in-store visual merchandising be-comes relevant as never before. The more choices consumers are faced with, the more time they tend to spend while making purchasing decision, and visual merchandising may help to facilitate those choices. This reflection paper is aimed at drawing understanding on how visual merchandising influence consumer behaviour and how it stimulates the purchase de-cision.
Introduction The power and utility of the internet is common knowledge to literate people. It has fundamentally shifted the economic land scape to such an extent that its era is dubbed the new economy (Turban et e, 2011l). At the heart of this new economy is e-commerce. E-commerce is simply doing business online. Amongst the companies at the pinnacle of the new economy and more specifically e-commerce is Amazon.
Plato’s Diner is a family owned and operate business. The owners, Dean and Chris Papas are Greek immigrants and they believed if they worked hard and spend their money wisely they will become successful businessmen. Contrary to their beliefs the case highlights several issues at Plato’s Diner. These challenges derive from lack of strategic planning, management operation, human resources management, marketing strategy and non-compliance of labor laws, and taxes regulations. These challenges pose legal ramifications for their business.
As Americans got richer, they became more affordable and hence they were able to buy more things. For example, in 1946, one in every 18 thousand households owned a TV set. Within a span of less than 15 years, about nine out of 10 households in the U.S. owned at least one TV by 1960. TV became an important technology as every TV station was filled with radio networks which provided up-to-date news, live events, movies, dramas, and so on.
2 LITERATURE REVIEW Several studies have been made on the branding of Institution especially, higher Institutions which includes Universities, Colleges and Business Schools. The importance of branding is well recognised in the branding literature. This chapter starts with a definition of key words in order to understand the terms of discussion and theoretical concepts relevant the research topic. The key words includes strategic positioning, brands, branding, business school, corporate branding, brand image and reputation and brand strategy, stakeholders.
However, choosing the appropriate technology is essential to the success of the advertising industry because different markets prefer different ways of conveying information. The use of applications in phones or e-commerce to order goods and services all over the world may be appropriate to a certain market, but media may be appropriate to an illiterate market (Porter, 1998). The development of smart phones is also an added advantage to the development of marketing activities in the advertising industries. For instance, in Singapore China the Taxi industry uses the application in the smart phones to access the consumers. Although the media are one of the appropriate medium to convey the adverts to the consumers,
Burberry, established in 1856 by Thomas Burberry, one of the luxury fashion brands in the world. The first shop opened up in the Haymarket, London, in 1891. Burberry was an independent family-controlled company until 1955, when it was reincorporated. It focusing on beauty, accessories, men, women, kids, all the products offering are strategy in the luxury fashion brand’s marketing mix. HISTORY OF BURBERRY Thomas Burberry, from Basingstoke, Hampshire opened his first store, originally specifying in outdoor clothing.
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.
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).
Digital marketing is the marketing of products or services using digital technologies, mainly on the Internet, but also including mobile phones, display advertising, and any other digital medium. Digital marketing 's development since the 1990s and 2000s has changed the way brands and businesses use technology for marketing. As digital platforms are increasingly incorporated into marketing plans and everyday life, and as people use digital devices instead of visiting physical shops, digital marketing campaigns are becoming more prevalent and efficient.
Online Marketing Internet and powerful mobile technologies have rapidly increased company efforts to market their products and services and build customer relationships via websites, social media, e-commerce, mobile apps, online promotions etc. These are very powerful tools, especially to reach the younger generations of tech savvy
Online shopping has nowadays become a widely spread way of shopping among people on different continents and in different countries. Its popularity is constantly on the rise considering the spread of Internet technologies and the increasing share of online shops in the retailing business. Online shopping activities are gaining wide spread as far as they tend to provide the consumers with numerous benefits and increase the convenience of buying without leaving the house. The popularity of online shopping grows due to a range of reasons, including its convenience as well as time- and money-saving potential.
More and more people these days prefer online shopping than shopping in malls because of so many advantages and benefits. People from all over the world have accepted online shopping sites because of the convenience provided like from shopping in their pyjamas to convenience for elderly and disabled. Not only this, online shopping sites also provides a wider choice of products, avoiding upselling or impulse buying, better prices, good for the environment, and
Consumer compare the prices of brands. And purchase the product with best outcome in low price but in many cases, consumer can pay more for better results. The product has design which attract the customer and easy to carry. Fashion leaders purchase the product which is more stylish and can satisfy their ego. The brand promotion has unique impact on brand image.