Recently it's been evidenced in some books that, ICT applications such as workflow systems, groupware systems, e-mail, and data transfer through Internet and videoconferencing may have diluted some of the traditional market functions which were employed by many marketers in facilitating their daily marketing techniques. This new way of doing business has some results to the near future market due to the various levels of technological advancement the city has.
In terms of implications for global marketing, the impact of ICT activities would have its strongest impact on product development decisions. The style towards modular designs and the partner program product strategy when a firm designs a main with different variations for different sections will probably accelerate. 1
Principally, marketing is the technology of choosing focus on markets through market analysis and market segmentation, as well as understanding consumer buying action and providing superior customer value still needs a wider dialogue. 2 The primary goal of marketing is to make gain satisfying customer needs and needs. Additionally it is a strategy that can make a business to grow and become powerful.
It is the marketplace target that may define the sort of marking composition the marketers might choose to look at. However, there is an ongoing fight between these types of marketing such as traditional marketing and the marketing which utilizes the growth of it in identifying which is preferable to the other. This being the situation; there is a need of figuring out the advantages and disadvantages of every marketing type.
The main goal of this newspaper is to examine the impact of ICT on Traditional Marketing and discuss the prospects and obstacles of the changing tasks for future marketing.
The group done different materials from the web, books, journals, interviews and category presentation on marketing and marketing management
Basing on different presentations, literature, papers and some formal and informal interview answers, the creators have come to a finish that, the blend of both means of marketing may make a difference for successful marketing functions in global market segments. With respect to growing the ICT trend, internet which is mostly used as a communication route it has a big impact in marketing and a solid tool of attaining large audience.
ICT is an acronym that means Information and Communication Technology. ICT can be used in marketing as a process of marketing something or service using the information communication technology programs. ICT marketing being a procedure for marketing a product or service using the advanced Information communication technology, it utilizes strategies like website creation, search engine marketing (SEO), banner advertising, social advertising, pay-per-click advertising and email marketing.
In this process, marketing a brandname using digital media is employed to help hooking up business to their customers. Business activities are conducted via the worldwide web (www) with the aim of attracting home based business, keeping current customers and/or business and growing its brand individuality.
The application of ICT in marketing helped in reaching marketing objectives and the modern marketing concepts which permits marketers to spread their products and increase their customer basic and makes it easier for stakeholders to access market and management data, talk about information and also to build trading partnerships. To be a marketing tool; ICT has seduced more customers and has affected marketing decisions due to its easy convenience and utilization hence provides value and advanced company business and profits. It allows consumers to accumulate information as the prices can be reached online.
However, marketers need to make creative and innovative use of information utilizing both technology and intuition to tease out styles and opportunities. Adding on the use of ICT in marketing, Strauss et al (2003)3 claim that ICT in marketing protects a variety of IT related applications with three main seeks such as one; transforming marketing ways of create more customer value through more effective segmentation, focusing on, two; differentiation and setting strategies; planning and performing the conception, syndication, promotion and prices of goods, services and three satisfy specific consumer and organizational customers' aims.
Marketing can be said to be the management process by which goods and services move from principle to the customer. It includes the coordination of product, price, place and promotional strategy. Marketing includes the strategies and tactics used to recognize, create and maintain satisfying connections with customers that cause value for both customer and the internet marketer.
Marketing is based on taking into consideration the business in terms of customer needs and their satisfaction and it differs from selling because advertising concerns itself with the tricks and techniques to getting people to exchange their cash for your product. It isn't concerned with the beliefs that the exchange is all about. And it generally does not, as marketing invariably does indeed, view the whole business process as comprising a tightly designed effort to find, create, arouse and fulfill customer needs. 4
Led by marketing scholars from several major universities, (name the person\writer who say this. )5 substantiate the development of marketing in large part be motivated by the need to dissect in more detail relationships and habits that existed between retailers and buyers. In particular, the study of marketing led vendors to identify that adopting certain strategies and tactics could significantly advantage the vendor/buyer marriage.
Basic Marketing Functions
Marketing is focused on identifying and get together human and communal needs. it is the art work which marketers use to comprehend their customers. There are a few basic marketing functions highlighted the following:- Market Research and Information Management, Product Management, Market management, Sales management, Physical circulation management and Advertising research.
2. 0. Summary of Traditional Marketing
Traditional marketing utilizes strategies like direct sales, TV, radio, mail, printing advertising eg. Publications, coupon, catalogs, billboards, and promotional materials. A marketing consultancy who adopts the original method use the unique offering proposition to advertise a particular product from a particular brand with less variety of competitors. However, this version to the marketing strategies and strategies result in advertising. The method believes that, advertising which exposes the product to the world and places it's the best platform to target customer. Traditional marketers understand marketing to be made up of four combined facets, known as the Four P's: Price, Product, Location and Promotion.
2. 1. Factors that effect the traditional marketing:
With "selling" as the best goal, marketing strategies are influenced by two basic factors: first is acquisition of customers, second is retention of the received customers. So every other strategy that is organized will concentrate on these two. A CORPORATION must work carefully towards obtaining these factors to achieve the desired leading edge over its competitors.
Together with both factors; there are also a few other targets such as creating recognition through information and education of the product, brand-building and accelerating sales which must accompany the utilization of the original marketing factors.
Traditional marketing promotes person-to-person selling as a most popular marketing strategy. Customers can immediately have the ability to start to see the product, test drive it and end up buying something or service he has seen.
Moreover, this can be a marketing type which is tangible as it includes hard copy material. There is something to be said about handing a consumer some tangible imprinted materials they can flip through at their leisure.
With few benefit of a Traditional Marketing, there may be however negative factors that brings changes such as expensive & Cost Prohibitive: Purchasing advertising for Television set, radio or printing can be very costly prohibitive to many small businesses. Producing hard backup brochures, business credit cards and mailers is expensive.
When using the traditional setting, it is difficult to trail results. It really is like throwing things up against the wall and hoping they stick. It really is tough to keep tabs on real quantitative results. This being the truth, most commonly it is requires outside the house help by using things such as printing materials, buying press and creating radio adverts all require hiring outside help, which adds to costs. Lastly, the method forces upon consumers to a product or service, they don't necessarily ask for it.
3. 0. Over view of the ICT
Society pushes have managed to assist in the creation of the new marketing action and opportunities. With all the improvements in technology, globalization, privatization, retail transformation, customer buying electric power; which brings more accurate level of production, technological innovations, make it easier for the markets to increase efficiency, branding, acquire richer information, direct selling and quick delivery of product.
ICT as a way to accomplish eMarketing is concerned with the storage, retrieval, manipulation, transmitting or receipt of digital data. Importantly, additionally it is concerned with the way these different uses could work with one another to achieve a certain goal.
3. 1. Factors influencing ICT in marketing
The ICT has some benefits and drawbacks in the marketing. Some of them are that when the marketer utilize this marketing type, it is simpler to measure the results. Data and results are available immediately when needed for decision making. These data can be produced using both real data and qualitative results on whether to market certain product or service or not as the info collecting system is correct and is governed by programs that happen to be computerized.
ICT has the ability to drill into your demographics to accurately reach your marketplace. The use of social marketing and networking permit the marketers to converse directly with groupings or even individual consumers. The ability to build direct connections with your visitors via social mass media and neighborhoods is guaranteed.
ICT can aid, marketing research, company can accomplish and increase interior communication, achieve significant savings utilizing the internet to compare vendors price and purchase materials
With some few advantages, ICT has some down sides such as time consumptions, third party potential to mismanage posted information, sources of power to run the machines, save the strong and lose the poor,
Searching in the web to obtain the product or service required time and space. Consumer is forced to search for a required product in various webs to secure a brandy needed. With the utilization of time, this function is not of great benefit.
There is not a stability and customer's relationship hence increase intangibility. Customer has to choose whether to buy the product shown in the net or decide for the other product elsewhere. The skill of interaction raises ownership and customer brand devoted to a certain product.
It can be highly requiring on the internet owners as it needs continuous article marketing, edited, approved and posted remarks must be responded to and sites and pages must be managed every time. This requires manpower which is effective and can easily respond to the customer needs.
Furthermore, the use of ICT can create classes as it saves the strong and loses the weak. It's the stronger who can manage to purchase the services and also gain access to the ICT marketing hence the center and lower course customers who cannot access the web internet pages are exonerated.
Impact of ICT in Traditional Marketing Functions
The two types of marketing are intended for obtaining maximum marketing results with customer satisfaction as a major objective. Marketing being truly a collective process where individuals can exchange goods or services based on their needs and needs, the marketing mixture principle of the product, price, place and advertising can be used. (10) [Philip Kotler, 2003, Marketing Management]. However, each is useful depending on the desired objective, population and especially the marketing combine the community has.
ICT retains a database of information for record purpose, evaluation, research and creation of management information is improved for decision making, physical distribution is improved through fleet traffic monitoring systems, warehouse stock monitoring tools, circulation monitoring and settings, advertising research, etc. the original marketing in addition has database with regards to the retail and offering of the product for the warehouse to shops, advertising and customer responses to the publicized product.
Customers in the ICT marketing cannot go through the quality and size of the product by just witnessing it on the website just as as seeing the product in a physical store. The frame of mind of not having the ability to reach and feel the product physically, can create doubts for the client and have an impact on his/her purchasing decision. 11 (Philip Kotler) whereas in the original marketing product is tangible for the customer to touch, view and feel.
When it comes to a range of products offered through Internet compared to physical stores used in the traditional marketing, there is an advantage of opportunity for a business to offer an array of products on the website. 12 The problems that can look here are cost and space for inventory and store space itself, where there's a interconnection between cost and space in the traditional marketing.
The problem of customer service and exactly how it can reach the client has some impact on both marketing modes. It is more difficult to provide customer service through Internet compared to face to face contact when the customer goes to the physical store or a feature. The client can get a quick response and effect from the staff when getting a service in the physical store, while through Internet the client is coping with a so called fixed service. And even though there might be possibility for conversing through e-mail or support chat function, the response and communication of service will never be as personal and quick as maybe it's when communicating in person.
One concern that can affect the customer's selection of purchase is the guarantee of the good. This gives comfort to customers, both in traditional marketing and Online marketing but most importantly it gives the secure sense to people purchasing online. The customer that cannot see and touch the product when purchasing it could feel more secure knowing that there is a warranty on the merchandise and this would make the decision of purchase easier and less risky.
The rates of a product can be based on the expenses of its process in achieving the market. Whenever a company does Internet marketing it has a bigger possibility to save costs and therefore a bigger opportunity to get lower prices on a specific product. The original marketing has more cost implications as one of the reasons for this is the expense of space for keeping the merchandise than the cheap way of communication through internet by e-mail.
When marketing through Internet, your competition is very hard with the effect in the costs setup. The rivals are a click away whenever a potential customer is searching for information on the web. Since payments for purchase through Internet are done by credit card mostly, there can be some security issues that create problems. For example a person would feel more secure paying in the physical store where they can have more control over the repayment process; whereas purchasing online is by firmly taking a risk when supplying the credit card details.
In traditional marketing, companies hold the opportunities to enhance the stores to be able to make a specific atmosphere that can catch the attention of customers. Some attractive tools to set-up that atmosphere can be music, colors, tea, coffee etc, but through Online marketing it is almost impossible to create a real experience since a website is merely a digital image. Despite the fact that lots of the websites make an effort to create an atmosphere by adding the same tools for fascination, they can not create as real experience as can be created in the physical store.
The atmosphere of the store is stated to be very important for sales of the products. For example if the thing is that an unorganized store just filled up with some clothes you hardly feel tempted to travel in to check out anything. The way the store is decorated gives a subject matter about the business and its style. When one thinks about this, you can realize the importance of the physical lifestyle of the store. Think for example how the company could offer the same atmosphere through the web site. But in the finish the knowledge of stepping into the store differs than clicking on computer when shopping.
Internet helps companies to be reachable at any time, regardless of opportunities hours that physical stores require. Also the opportunity for the customers to reach the store location online and the number of customers that can do this is a lot wider compared to the physical located area of the store.
When it involves promotion, a very important factor which is clear is the difference between your communication through traditional and Internet is the acceleration. Speed to getting the communication of advertisement, reports or any type of information through to customers is extremely swift through Internet. This is a very important concern in the competitive world of business.
Another difference between promotion by Internet and promotion by traditional ways is the strength of the marketing note the marketer desires to communicate with the customers. In traditional manner, the subject matter would get attention during a limited timeframe, for example as it is aired on Television or delivered as paper advertising, whereas on the web, the message to the customers can exist constantly on the business's website.
Through an online site, a firm can present itself in many ways where the customer can study different facets of the business and get to know it well where as this isn't possible just as through traditional tools for promotion. For example the complexity of vast range of information cannot be easily fixed into a mag advertising or Television set commercial etc. The tools for traditional campaign can be utilized mainly in communicating the message soon and constantly.
There is also a burden of keeping a website or online commercials that take in time, resources, technology, skills and money will be largely used. But this should be weighted out by the ease of access and opportunity they provide. The traditional marketing only requires the offering channel that can be physically seen and managed.
Nowadays a huge group of consumers have the challenge of the time but have the funds to spend; so that it can be easier to allow them to shop online and saving time when spending. The image, rate, design and generally every aspect of the website of any company is vital.
5. 0. Potential customers and Difficulties of the changing functions for future marketing
5. 1. Potential customers for future Marketing:
As it was discussed earlier, marketing is largely influenced by societal makes which then have an effect on marketing actions and opportunities. Recent solutions in marketing with a concentrate on the customer, business marketing or commercial marketing with give attention to an organization or establishment and cultural marketing with concentrate on benefits to society, have creates new types of marketing such as the internet marketing or even more generally e-marketing, online marketing, search engine marketing, or desktop advertising. This marketing tries to perfect the segmentation strategy used in traditional marketing.
It targets its audience more exactly, and is sometimes called personal marketing or one-to-one marketing. Online marketing is sometimes considered to be broad in opportunity, since it not only refers to making money online, but also contains marketing done via e-mail and cordless media.
Technological progress can lessen barriers between countries and areas. Through the use of webs, firms can quickly dispatch information in one country to some other without much limitation. Prior to the mass use of the Internet, such transfers of information could have taken much longer to send, especially if done via snail email (snail mail), telex, etc. The growth in technology provides companies with a new tool for immediate marketing and advertising that may be cost effective and provide maximum delivery to targeted customers.
Recently, there has been a large focus on data evaluation. Data can be mined from various sources such as online forms, cellular phone applications and more recently, social media. Marketers can acquire fuller and richer information about market segments, customers, potential customers and even competitors.
Internet marketing makes the marketplace reachable whenever whatever the time and opening hour's limitations that the physical store may necessitate. Shopping of product and services can be done online and selling orders is concluded within a short while. It will save you time to wait and focus on one item. Service or product can be represented in different designs and quickly implemented when viewed under the internet. During this time of globalization, the scientific progression has overtaken all other method of life so do the marketplace atmosphere.
With Internet, marketers have a great chance to offer sales campaigns such as contests or price reductions to the people who visit the company's website. This may encourage the customers to go to that website again which way of interacting with the customers supplies the means for the business to build a long term relationship with their customers.
Internet is a new medium for public relations and it provides companies the chance to publish the news straight while in traditional marketing they might await periodical publications or brochures. They can use Personal blogs, Podcasts/ Internet radio shows, online newsrooms and media kits.
5. 2. Problems for the changing roles for future marketing
Legal issues and specific Internet legislation are quite crucial and online marketers should fully be familiar with regulations wherever they operate whether it is within their own national boundaries, or in a economical trading bloc including the European Union or in other country claims. Time, money, litigation and pr harm can be prevented by understanding the relevant legislation and applying to the organisations both in the public and private sector.
The problems associated with the Internet that marketers must understand and react to such as customer level of resistance to change, especially older and disadvantaged people; general public concerns over personal privacy issues, such as SPAM and chat-rooms, lingering security concerns over fraudulence and phishing (hackers) and network security and stableness (worms).
Lack of trust with unidentified virtual stock traders, the Internet's sensory boundaries restricting of senses like style and touch which influence buyer decisions, limited web access for low-income communities and the ones in rural areas, continued high costs of broadband associations deterring high speed take up, cultural impact of the web such as debt produced from online gambling.
Poor levels of online customer support and fulfillment, technology difference between users and providers, complexities of cross-border trading, inability to offer an enjoyable and reliable online shopping experience.
It has been detected that, ICT has enjoyed a significant role in changing the marketing functions on the market. Many of the consulted sources such as websites, catalogs, marketing thesis and journals, company marketers who were interviewed, made a mention of the changes which happened locally which automatically necessitated the aspect of the kind of marketing marketers might use.
The future tendencies of marketing include not only the economy but of communication with brandy of the products or service to evaluate final result and brandy understanding. Traditional marketing requires a bit more trust that the impact of your time and efforts is aiding your bottom line. With Internet marketing you can view real facts and every fine detail that causes reaching the goals and allows making decision predicated on facts while the traditional way may face some issues when necessary to show data that leads to achieving the goals. However, the ultimate way to really understand how effective your marketing approach is to see precisely what the audience is responding. Internet marketing allows studying every aspect about the audience instantly.
Although Internet Marketing is way better at achieving the targeted audience, the original marketing is known because of its reach to a mass audience. You will discover ways that traditional marketing can aim for certain demographics depending on a television route or show, radio station genre or industry newspaper. However, traditional marketing will never be able to target as accurately as Internet marketing. With Internet marketing one can focus on even the tiniest audience predicated on a number of things.
Internet marketing provides better word-of-mouth as a highly effective marketing. The actual fact that social advertising allows visitors to build a community and let others distributed positive feedback about the product or service. People will normally trust word-of-mouth much more than traditional ads that will try to encourage you about the benefits associated with a product or service. These will focus on the techniques that will work and eliminate anything that is not effective. Traditional marketing builds up a plan and then hopes that it'll work. This helps it be problematic for traditional agencies to check new ideas or even consider all of the details to look for the effectiveness of your campaign.
More companies are now leaving traditional marketing towards Internet marketing. Companies are moving money from traditional marketing to Online marketing because Internet marketing is a far more effective way to show proven results.
Moreover, provision of valuable information to the people creates a positive impression which helped in creating marketing. In addition, it helps in attaining people who might not have any pre-existing interest or knowledge of your company. Even though education and sensitize on the features of ICT utilization in marketing is essential, the issues of internet security, privacy and international trading regulations should also be emphasized.
Despite the introduction of the internet; traditional marketing strategies remain proven to be highly effective when carried out in the right way. Nowadays are hundreds of other traditional marketing techniques that individuals still use to advertise their business everyday plus they do work, but because of the living standards we've today, response to these procedures is quietly low.
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