Hi, need to submit a 500 words paper on the topic MKT301A-Homework.
Marketing s Question The recent advancements in technology, such as, the emergence of the internet, computers and mobile phones has made business transactions much easier. Before the advent of the internet, companies could only create branding and secure a market share via traditional personal sales methods and in-store sales. Both the textbook and the online marketing videos assert that online marketing utilizes the Internet to deliver promotional marketing messages to the consumers, such as social media marketing, web banner ads, search engine marketing, and mobile advertising.
By 2013, the world’s Internet population was estimated at 2.4 billion users (Lamb, Hair and McDaniel, 2013). This implies that two-fifth of the world’s population is online. In this regard, both the videos and textbook are of the opinion that Internet advertising can reach a wider customer base at once, since anyone who is online across the globe can access information. They also point out that web-based advertising is used in almost all the industry sectors. One of the most important and obvious benefit of online business marketing is convenience and flexibility something which both the videos by and the book Marketing by Grewal and Levy agree with.
With Internet availability, one can sell and order products globally, thus driving brand awareness. Both the print and electronic information sources on Internet marketing posit that social networks (Facebook, LinkedIn), video-sharing sites (YouTube), micro-blogging sites (Twitter), and photo sharing (Instagram), among many others increase product awareness and enhance customer rapport, allowing for an increase in sales as well as customer’s loyalty. The other similarity between information in the videos and information in the textbook is that the use internet advertising is much cheaper than the traditional promotional and advertising activities.
The textbook clearly shows the link between the benefits of using social networks to any business enterprise. On the other hand, the videos on internet marketing do not outline how web-based marketing strategies allow a firm to take advantage of social media, for instance, Facebook, My Space, LinkedIn, and Twitter to market its product. While the videos do not mention anything about the cost, the textbook argues that the Internet is a versatile and highly flexible advertising medium because changes can be made to the ads without incurring much additional cost.
The other difference is that while the videos start by giving a background information about online marketing, the textbook starts by defining internet marketing devoid of background information. The other difference between the information in the videos and textbook is that while the videos provide information in point form, the information given in the book is in prose. In summary, both the information in the videos and textbook agree that online advertisements are cost-effective, interactive, flexible, and target specific as compared to the traditional advertising mediums including televisions and print media.
In other words, the use of online selling techniques poses more benefits than limitations. Both information sources share the view that the emergence of the internet has encouraged web-based marketing social networks, blogs and internet comment boxes creating a diversification of business entitiesQuestion 2In Chapter 5, the book talks about consumer behavior (Grewal & Levy, 2014). The video, Perception: Consumer Behaviour by Mcauley describes the manner in which perception is linked to consumer behavior.
In the video, Mcauley (2011) points out perception is what we experience. I chose the video by Mcauley on consumer behavior because when buying a product or service, we spend a lot of time considering our decisions. The video is also very informative about the impact of perception on consumer behavior. On a daily basis, our minds are exposed to adverts which influence our perception. Marketers are using advertisements to to influence our perception so as to market their products. The video describes the three stages of perception which are: exposure, attention, and comprehension.
In the textbook, the video supports information that consumer behavior involves the study of people, groups of people, or organizations as well as the processes that they utilize to choose and use, along with dispose services or products. Most consumers purchase features which bring to them benefits that get them closer to the valued end states based on their perception. Besides that, the video also contributes information on the six stages of the consumer purchasing process: (1) Problem recognition stage (awareness of need). (2) Information search. (3) Possibility of alternative options. (4) Choice to purchase the product or service. (5) Actual purchase of the product or service. (6). Post-purchase evaluation.
ReferencesGrewal, D., & Levy, M. (2014). Marketing. New York: McGraw-Hill/Irwin.Lamb, Charles, Joe Hair, and Carl McDaniel. Essentials of marketing. New York: Cengage Brain, 2013. Print.Films on Demand. (2012). Internet Marketing Strategies. . Retrieved February 12, 2015, from http://proxymu.wrlc.org/login?url=http://digital.films.com/PortalPlaylists.aspx?aid=16533&xtid=48969Films on Demand. (2014). Online and Mobile Business Marketing, . Retrieved February 12, 2015, from Mcauley, C.
(2011, November 7). Perception: Consumer Behaviour. . Retrieved from https://www.youtube.