marketing chapter 22

marketing chapter 22 - Chapter 14 Marketing in the Digital...

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Chapter 14 Marketing in the Digital Age Previewing the Concepts: Chapter Objectives 1. Discuss how the digital age is affecting both consumers and the marketers who serve them. 2. Explain how companies have responded to the Internet and other powerful new technologies with e-business strategies, and how these strategies have resulted in benefits to both buyers and sellers. 3. Describe the four major e-commerce domains. 4. Discuss how companies go about conducting e-marketing to profitably deliver more value to customers. 5. Overview the promise and challenges that e-commerce presents for the future. J UST THE B ASICS Chapter Overview Some say the new digital technologies have created a new economy. Few would disagree that the Internet and other powerful new connecting technologies are having a dramatic impact on marketers and buyers. Companies need to retain most of the skills and practices that have worked in the past, but they will need to add major new competencies and practices if they hope to grow and prosper in the changing digital environment. Much of the world’s business today is carried out over networks that connect people and companies. Intranets, extranets, and the Internet itself have all changed the way companies do business, and customers find the products and services they want. The explosive worldwide growth in Internet usage forms the heart of the so-called new economy. However, the Internet has also allowed new companies to compete, and the formation of new types of intermediaries and new forms of channel relationships caused existing firms to re-examine how they served their markets. E-commerce continues to offer both great promise and many challenges for the future. Conducting business in the new digital age will call for a new model for marketing strategy and practice. Some strategists envision a day when all buying and selling will involve direct electronic connections between companies and their customers. But the fact is that today’s marketing requires a mixture of old economy and new economy thinking and action. E-business involves the use of electronic platforms such as intranets, extranets, and the Internet to conduct a company’s business. E-commerce is more specific than e-business. 66
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E-commerce involves buying and selling processes supported by electronic means, primarily the Internet. E-marketing is the marketing side of e-commerce. There are several e-marketing domains, including business-to-consumer (B2C), business- to-business (B2B), consumer-to-consumer (C2C), and consumer-to-business (C2B). Each of these domains meets the specific needs of each of the segments addressed, and they all continue to grow. E-commerce is conducted in many ways. Companies can be “click-only” in that they are located only on the Internet. They include e-tailers, search engines and portals, Internet Service Providers (ISPs), transaction sites, content sites, and enabler sites. Many companies today, however, are “click-and-mortar” companies, because they maintain
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This note was uploaded on 03/24/2012 for the course ECON 201 taught by Professor Kovak during the Winter '09 term at Air Force Academy.

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marketing chapter 22 - Chapter 14 Marketing in the Digital...

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