Lecture 6
Internet Marketing - Slides
- Internet marketing is important
- Advertising pays for much of the services and content offered on the internet
- Similar to TV ads paying for TV shows and sporting event telecasts
- Fast-growing industry
- Allows buyers and sellers to do things they couldn't do before
- Television advertising is becoming less effective
- Advertising pays for much of the services and content offered on the internet
- Definition of marketing - creating profitable transactions
- Involves many activities. Internet can help with most of them.
- Marketing includes buyers searching for sellers and sellers searching for buyers
- Two-sided search
- Marketing as a matchmaker
- Internet offers capabilities not available offline
- Personalization
- Tracking
- Feedback and analysis
- Also imposes additional demands on marketers
- Multi-way communication
- Multiple influencers - blogs, customer reviews, discussion boards
- Need to manage the conversation
- Marketing communication requires attention to be effective
- The economics of attention
- Attention is scarce and hence valuable
- People will pay for it
- Location, location, location
- Makes FaceBook and MySpace valuable
- Creates the advertising industry
- Marketing communication influences each step in the customer buying process
- Stimulus
- Search
- Buy
- Progressive.com and Amazon.com try to influence search by being destinations
- The economics of attention
- Marketing basics
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