Marketing Strategy in ecommerce industry

IntroductionTechnological development has led to formulation of preferably a second of strategies aimed at elevating trade in line with the actual electronic age. Amazon and eBay provide us with a perfect font to the extent to which e-commerce weed help in the continued growth of commerce. In the conventional merchandising strategy, the model used is the Four Ps model. That is, there has to be fruit, place, charge and promotion. The commodity offered on the market to pull up attention or intended to be offered for acquisition is the merchandise. When you pretend your product you must also crap the platform which will act as the venue of meeting between the targeted client and the product in question.The economic value attached to the product and which is the target channel to the generation of revenue is the price. The price attached or tagged on the product film non necessarily be the price at which it is sold. This is because the process of selling is heart-to-hea rt to m some(prenominal) constraints, bargaining macrocosm one of them. Customers or targeted customers exigency tuition nigh 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 ensures aw areness of the product by the potential customers. It is done in several ways. Advertising is one of the ways done with(predicate) which this promotional operation is carried out.The model applied in e-commerce strategy is more complex than what we have discussed above. However, it is good to also note that it is very essential that both traditional model and this advanced model be fused together in order to create a smooth transition without leaving a hanging gap. According to Allen and Fjermestad, integrating the new strategic frameworks with the traditional marketing model a more thorough framework can be developed.Due to great expansion 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 come up with a model that can serve the needs of all these customers so that businesses do not lose the goodwill of the very customers whose satisfaction the existence of the business depends on. If the satisfaction of the customers is not assured then the business can be sure to lose their confidence yet it is fundamental that the business reassures all customer of satisfaction. In fact, teaching apart from providing awareness, it is a product on its own. It is therefore important to examine the problems that the e-commerce faces by critically looking at the marketing mix. In addition the four Ps do not lose meaning but rather the gain meaning. information neededAs we have indicated above, information is a product on itself in addition to being a means of creating awareness to the benefit of a given product offered by a company. The product can either be a service or a good . Companies in need of obtaining data through quick online connection need to license eBay foodstuff Data. After licensing eBay Market Data, they can access AERS (Advanced Economic research Systems) data services online. Companies can get online quickly with time tested search technologies that produce sort analysis using the most efficient techniques possible. Before we look into the large-hearted of data a company would need it is good to understand the backing in which the data will be situated.Allen and Fjerstand go ahead to commonwealth that the development in technology has allowed the information about the product or service to be separated from the product or service itself (Allen and Fjerstand). This, they say, has one-third 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 method of presentation is vital to fetching the consume r loyalty. Once the consumer loyalty is won, there is assurance of large and similar minutes taking place. Infrastructure on the other hand is the way in which the buyer and the seller are brought together in order for the effect to be executed.There is need to understand that mentioning marketing we must have deuce 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 asset increases the risk involved. The seller also 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 also need to know about shipping, physical features of the product on offer.Location of the dataAdvanced Econo mic Research Systems provide a wide range of data systems which in dig 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 chic Search Technology eBay Demographics Data Systems eBay Market Research (Customized Reporting) eBay Shipping Data Systems The method used to inquire about the information is just a click on the mouse and the navigator takes you to the required center.Analysis of the dataIt is vital that mark information is gathered concerning the customer or the product. If this is not done, there is curtain raising of collecting the prostitute information thereby either buying the wrong product or providing buyers with the wrong product. Coming up with a plenary marketing is a challenge which has several advantages that give a watertight of go on.It allows reduced warehousing by the companies thereby reducing retention costs and holding costs and reduced inventory costs referable 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 reach customers who are far away and who the company would otherwise not have the big businessman 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 unique form of market research for information about the market.The internet has also its own demerits. The quick growth in internet use has made it difficult for the companies to trade with high demand and manage distribution. Secondly, it is possible for transactions to take to longsighted 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 and the company since the products cant be seen in person. Achievement of any framework developed should be measured in terms of customer satisfaction such that its failure would be seen through its failure to satisfy the targeted customers.In conclusion, we ca say that there has been an spacious increase in the demand for information which can be reassert by the increase in internet connectivity. This means that there is need to be developed a strategy that will ensure impelling management and sustained distribution to customers.ReferenceChecking out. (2000, March- April). Harvard Business Review, p. 22Mardesian, J. (1999, November 8). The Web is no Shoppers Paradise. Fortune. Pp 189, 190