Marketing Strategy in ecommerce industry

IntroductionTechnological development has led to prep of quite a issue forth of strategies aimed at elevating merchandising in line with the current electronic age. virago and eBay provide us with a perfect usage to the extent to which e-commerce hatful help in the proceed harvest of business. In the handed-down securities industrying dodging, the standard used is the Four Ps model. That is, there has to be crossway, place, price and promotion. The commodity offered on the market to attract attention or intended to be offered for acquisition is the re contort. When you have your reaping you essential in any case have the platform which will act as the venue of meeting between the tailed client and the merchandise in question.The value inclined to the harvest and which is the target channel to the generation of revenue is the price. The price attached or tagged on the fruit contend non necessarily be the price at which it is sold. This is because the process of merchandising is subject to many constraints, bargain be one of them. Customers or targeted customers need nurture rough the product, its characteristics and distinguishing features in order to make their purchases. Promoting the product therefore helps in ensuring that this role is played. It attends aw atomic number 18ness of the product by the potential customers. It is done in few(prenominal) ways. Advertising is one of the ways through which this promotional activity is carried out.The model applied in e-commerce strategy is more complex than what we have discussed above. However, it is good to too note that it is very essential that both traditional model and this advanced model be amalgamated together in order to create a smooth transition without leaving a wall hanging gap. According to Allen and Fjermestad, integrating the new strategic frameworks with the traditional market model a more double-dyed(a) framework buttocks be developed.Due to great elaboratenes s that has been seen in the area of internet use, which means that the number of internet users has immensely increased, there is need to comply up with a model that can good of process the needs of all these customers so that businesses do not flake out the goodwill of the very customers whose satisfaction the instauration of the business depends on. If the satisfaction of the customers is not assured so the business can be sure to lose their confidence yet it is fundamental that the business reassures every customer of satisfaction. In fact, data apart from providing awareness, it is a product on its own. It is therefore outstanding to attend the problems that the e-commerce faces by critically looking at the marketing mix. In addition the four Ps do not lose meaning only rather the gain meaning.Data requiredAs we have indicated above, information is a product on itself in addition to world a means of creating awareness to the benefit of a given product offered by a caller-up. The product can either be a service or a good. Companies in need of obtaining info through quick online connection need to endorse eBay Market Data. After licensing eBay Market Data, they can admission price AERS (Advanced Economic Re pursuit Systems) info services online. Companies can get online quickly with time tested search technologies that produce set analysis using the virtually efficient techniques assertable. Before we look into the kind of data a company would need it is good to get word the setting in which the data will be situated.Allen and Fjerstand go ahead to state that the development in technology has allowed the information somewhat the product or service to be separated from the product or service itself (Allen and Fjerstand). This, they say, has three elements content, context and infrastructure. Content is what is being sold and could be information, service or a physical product.Context is how the product is presented for exchange. This m ethod of presentation is lively to winning the consumer loyalty. Once the consumer loyalty is won, there is assumption of large and similar transactions taking place. root on the other hand is the way in which the buyer and the seller are brought together in order for the transaction to be executed.There is need to guess that mentioning marketing we must have two kinds of information. We must have consumer information and product information. Therefore the data required falls under the two categories of information. The consumer has to be equipped with the full information about the product before making good the urge to purchase. In addition, the fact that the whole process internet selling is quite intangible increases the risk involved. The seller likewise needs to have information about the buyers. It is important that the seller understands the location of the customer, preferences and tastes. The customer will too need to know about shipping, physical features of the pro duct on offer.Location of the dataAdvanced Economic Research Systems provide a wide range of data systems which in turn provide location for access of data. The following are some of the data systems that can act as location for data.eBay Category Structure Lookups eBay Smart hunt club Technology eBay Demographics Data Systems eBay Market Research (Customized Reporting) eBay ecstasy Data Systems The method used to inquire about the information is barely a click on the mouse and the navigator takes you to the required center.Analysis of the dataIt is vital that correct information is gathered concerning the customer or the product. If this is not done, there is possibility of collecting the wrong information thereby either buying the wrong product or providing buyers with the wrong product. Coming up with a comprehensive marketing is a challenge which has several(prenominal) advantages that give a strong of go on.It allows trim back warehousing by the companies thereby reducing transshipment center costs and holding costs and reduced arsenal costs collect to automation. Internet selling is just to all companies big and small since any company is able to operate internet. There is possibility for companies to prepare customers who are far away and who the company would differently not have the ability to sell to in their localities. Internet has enabled a one to one marketing in addition to creating room for 24-hour operation. Lastly, it provides a fantastic form of market research for information about the market.The internet has also its own demerits. The rapid growth in internet use has made it serious for the companies to cope with high demand and manage distribution. Secondly, it is possible for transactions to take to long before being executed. This is because it is easier for buyers to forget after making an order due to dalliance. Lastly, apart from the fact that it could hard to find some sites, there is a barrier created between the buyer a nd the company since the products cant be seen in person.Achievement of any framework developed should be calculated in terms of customer satisfaction much(prenominal) that its failure would be seen through its failure to execute the targeted customers.In conclusion, we ca say that there has been an wide increase in the demand for information which can be justified by the increase in internet connectivity. This means that there is need to be developed a strategy that will ensure effective management and sustained distribution to customers.ReferenceChecking out. (2000, March- April). Harvard work Review, p. 22Mardesian, J. (1999, November 8). The Web is no Shoppers Paradise. Fortune. Pp 189, xcl