SUMMARY OF THE PROJECT WORK
E-Marketing or electronic marketing is the use of the internet to sell goods and services to consumers. It is one of the channels of marketing amongst others. In recent years, more and more companies have started using E-marketing as a way to connect with consumers.
In the past, Brick and Mortar stores were the only way to sell products to consumers. If the consumer were to purchase anything, he or she would have to visit the store. However, with the advent of the internet, retailers have moved from brick and mortar to brick and click form of retailing - these are stores that have both online and offline presence. We have also seen the rise of simple click retail outlets - these are retail stores that are only present online - for example, eBay, and Alibaba etc. Brick and click outlets are also known as click and mortar outlets.
E-marketing or electronic marketing has revolutionised the way consumers purchase. It has removed all forms of geographical barriers. Consumers from everywhere can now access a brand, regardless of its presence in the city or country, through E-Marketing. With access to the internet becoming cheaper and widely available, more and more companies are choosing E-marketing as a way to reach out to their consumers.
With progress in technology, and making it possible to have a two-way communication online, more and more consumers are now feeling safer and comfortable to use online retail outlets to purchase goods and services.
Online retail systems are not used to sell merchandise any more. They are also used to build and maintain customer relationship and build loyalty by connecting various brand loyal consumers forming online communities.
Companies like Harley Davidson have formed online communities and enable communication between their consumers by building clubs and societies where like-minded people interact with each other.
Now, consumers do not have to depend on computers anymore. With mobile phones becoming accessible to everyone, with just a few clicks, companies can make customers' favourite brands available at their doorstep. They do not have to get troubled about having to go out in the sun or rain nor do they have to worry about fuel or availability of parking spots at the malls or shops.
Technology like Bluetooth, Near Field Communication, is being used by companies to send consumers targeted marketing communication. Based on the proximity between a retail outlet and the consumer, the consumer can receive marketing communication from various companies - messages regarding the availability of new products, discounts, prices etc.
Use of E-Marketing also enables the marketer to cut down on costs. The company need no longer to spend on acquiring land to have a brick and mortar retail outlet. Advantages to the company in terms of savings in rent, electricity, expenses of hiring employees as salesmen and women etc.to make the use of E-Marketing all the more appealing to marketers and organisations alike. Use of E-Marketing eliminates the use of intermediaries thereby saving the company massive amounts of expenses. This makes it easy for new companies to enter the market since it does not require too much funds to reach out to the consumers.
With the positives come the negatives. While E-Marketing might seem appealing to the marketer, one must not venture into it without understanding the setbacks. E-marketing has its drawbacks as well. Since E-marketing is a reasonably new advent, consumers find it difficult to trust it and hence a majority of them still resort to purchasing products from brick and mortar retail outlets. With more and more instances of online crimes such as credit card fraud etc., consumers are becoming more cautious before resorting to online consumption.
Companies can overcome this hurdle by engaging consumers since the lack of human touch is one of the big reasons why consumers prefer offline marketing to electronic marketing. Making online payments secure and communicating this to consumers is another way to ensure that consumers trust E-marketing.
This is also compounded for the reason that not all consumers are accessible via electronic means. Depending on the type of product and online accessibility of the consumer, the marketer can choose between using traditional methods to reach out to the consumer or supplement it with the use of online marketing.
If the marketer understands the right mix and integrates both online and offline marketing, the organisation can effectively reach the market and attract more consumers.
Proper market research is imperative before adopting Electronic means to market its products to the consumer. After researching the type of consumers and the presence of competition and studying the pitfalls faced by the competitors, the marketer can choose wisely and ensure the success of his business.
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