4a. Briefly summarise the implications of the internet on each element of the marketing mix ( Consider 4 Ps)
Price – Price has become versatile since the internet has come about. We see the internet creating opportunities to reduce prices of products and services. Because the internet allows for virtual stores at the fraction of the cost of a bricks and mortar store we see firms reducing their price to compete with products and services from bricks and mortar stores.
Promotion – The internet has had a huge affect on the way firms promote their products and services. We can see the use of the internet as a popular way to promote new products and services. What it has done, is give firms the ability to promote their product or service to the world from anywhere in the worlds. Firms also pay fractions of the cost of traditional forms of promotional marketing. This drives prompting online up and above all other forms of promotion and marketing.
Product – Product has been changed through the availability the internet brings consumers. The internet allows consumers access to products around the world, with the click of a button. This gives consumers the ability to have access to products and service in the comfort of their own home.
Place – As noted on ‘Product’ the place where people purchase their products and service has changed because of the internet. We need to understand that people can purchase the product or service from anywhere. With their environment being an influencer of their purchasing habits, it is really important for firms to create the a positive environment for consumers when they are purchasing online.
4b. Analyse E-CRM activities of your favourite Australian TV show ( International students can select a TV show from your home country)
Unfortunately I have not watched any Australian Television this year, nor any Television. You may think that is crazy, but, in this day and age this is some what normal.
Some affective ways to use E-CRM
· Social Media management
· Email subscriptions
· Online information forums
· Small audience competitions
· Speciality websites
· Online publications
· Video platforms
· Phone applications