Marketing 3343 Chapter 21 Dr Murdock - Chapter 21 Implementing Interactive and Multichannel Marketing Consumers and companies populate two marketing

Marketing 3343 Chapter 21 Dr Murdock - Chapter 21...

This preview shows page 1 - 2 out of 4 pages.

Chapter 21: Implementing Interactive and Multichannel Marketing Consumers and companies populate two marketing environments today. One is the traditional marketplace . Here buyers and sellers engage in face-to-face exchange relationships in a material environment characterized by physical facilities (stores and offices) and mostly tangible objects. The other is the marketspace , an Internet-enabled digital environment characterized by face-to-screen exchange relationships and electronic images and offerings. The existence of two market environments has been a boon for consumers. Today, consumers can shop for and purchase a wide variety of products and services in either market environment. Internet technology makes interactive marketing possible. Interactive marketing involves two-way buyer–seller electronic communication in a computer-mediated environment in which the buyer controls the kind and amount of information received from the seller. How does the Internet do this? A Choiceboard is an interactive, Internet-enabled system that allows individual customers to design their own products and services by answering a few questions and choosing from a menu of product or service attributes (or components), prices, and delivery options. Most choiceboards are essentially transaction devices . Many companies use Collaborative filtering : a process that automatically groups people with similar buying intentions, preferences, and behaviors and predicts future purchases. You see collaborative filtering applied each time you view a selection at Amazon.com and see “Customers who bought this (item) also bought….” Internet sites today allow for personalization : the consumer-initiated practice of generating content on a marketer's Web site that is custom tailored to an individual's specific needs and preferences. For example, you can set up your Yahoo home page to contain the type of information you want to see when the page starts…weather, sports, movies, tv listings, etc… An element of personalization is a buyer's willingness to have tailored communications brought to his or her attention. Obtaining this approval is called permission marketing : the solicitation of a consumer's consent (called opt-in ) to receive e-mail and advertising based on personal data supplied by the consumer. Additionally, customers are given the option to opt-out , or change the kind, amount, or timing of information sent to them. Finally, their customers are assured that their name or buyer profile data will not be sold or shared with others. Companies seek to create a positive customer experience: the sum total of the interactions that a customer has with a company's Web site, from the initial look at a home page through the entire purchase decision process.
Image of page 1
Image of page 2

You've reached the end of your free preview.

Want to read all 4 pages?

  • Spring '14
  • Marketing, World Wide Web, web site, web sites

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes