Promotional strategy and digital communication through any portals or devices are important for the company to extend their business. eBay is one of those e-commerce multinational companies which is operating globally and facilitates consumers through their websites. In recent times, eBay reaches into amultibillion-dollar business and operating in 30 countries. They have a wide range of products and they are operating worldwide through their website, which is an option of digital communication (Ebay.com.au,2018). The website is free for buyers and they can easily access the website to check the latest trend in fashion and accessories. In this report, eBay marketing extent and their reach in markethave been discussed. They have certainly taken some marketing strategies for their organizational development and implement those strategies so that their product can easily reachable for customers. In this report, eBay’s aim, functions, market position, customer value proposition, current value position in the market and their marketing plan would be discussed.
History
eBay was founded in September 1995 and headquarter of the company situated in San Jose, California. In 1997, the company interested in media and they want to create a perfect market through the website (Ebay.com.au,2018). By the middle of 2002, this perfect market foundation has been completed and the management has enough faith in that system and employees are also motivated by the innovative form of work culture.
Aim
The aim of the company is to provide a global trading platform where anyone can pursue their trade. Practical implementation in the business market is the prime motive for this company.
Huge range of products can available from eBay and they are delivering those products at lowest price. They have products from fashions, home and gardens, electronics, sports, grocery and liquors and other items. All these items are very low in price and Australian people like to purchase things from their websites. There are some discounts from selected items and people love to grab them. The range in product and lower price of the product is the prime attraction of these brands and company also promoting this fact. Local employees are doing the delivery so the delivery process is very smooth and customers easily get their product within the due date. A particular section is segregated for children and eBay monitor especially this section as no other e-commerce company influence such sections and this is one of the attractions for them (Yadav, Joshi & Rahman, 2015). eBay delivers a better form of commerce and provides economic opportunity for native people. The company discovers great value in business and they have a unique selection of products that differentiate the company from others. The company also donates some of their revenue to charity and support the nation in this procedure.
In comparing with other companies eBay started with used products and then they are going towards the new ones. This change in market understanding has come when they compete with other companies and identify their drawbacks in business. On the other hand, other e-commerce companies are monotonous in that section (Bre?ko&Ferrari, 2016). They have started their business with new products and in this change fashion trends they also providing or showcasing such same products. eBay always focus on community, as the company thinks that people are very good at choice and they have a capable brain to adopt all the innovations they introduced in the market. Other companies focus on products, as theythink that supreme product quality is needed by customers (Stone & Woodcock, 2014). This thought process is quite right as people want a quality product but if people are not set as the important sector then lots of people are not understood the value of their own provided by the company. In this aspect, eBay is better than any other company. Most of the times eBay products are virtual and for this reason, there is no ownership process applicable to this e-commerce process. Other companies have individual ownership and they have handles physical products as well. eBay has a facility department that transacts all eBay items from warehouse to their nearest hub so that delivery people easily take those items for door delivery (Manfreda et al., 2017). On that other hand, most of the companies manage their supply chain in uniform way of warehouse management, packaging and developing the items. Therefore, in most of the cases, eBay is a lot more advanced and they pick the right strategy to extend their business. They have innovative touch in their website, product and operation management process and that differentiate the company from the others.
eBay targets all those big brands and accumulates all those brands in their store. The value of the product can be drawn by the production cost of that product, the rate of product perceived by the customers and the optimum market value of the product. This is the measurement of current value and eBay develops their business globally thus they have abetter market value from some of the other e-commerce companies as well. eBay controls as a business leader company including Marketplace, Stub Hub, and Classifieds stages (Bradley, Madnick & Kim, 2016). It involves the establishment of reserves and acquirements to help enable business on platforms for consumers and suppliers through online or on mobile devices. Through the online shopping procedure the company has earned additional US$8.97 billion and this signifies the market position of the company (Ebay.com.au,2018). Operation income also increased and that figure shows at US$2.32 billion. There are 12,600 employees work on eBay from all over the world and they are operating with 55 world’s most valuable brands.
The statistical graph identifies that a good amount of revenue has been generated in every year and this is very important for a growing company which only controls their business through the website (Nair, 2015). All kinds of branded products available in their store and with the change in market trend, peoples’ need are easily identified by them. Among 130 top American companies eBay is on 31st position in Profit and every year they show some change in their revenue percentage and this increasing percentage help them in a secure palace in market position (Ebay.com.au,2018).
Data collection methods
There are two types of data collection techniques. These are Primary data collection and Secondary data collection. Primary data are collected from the direct response from the respondents. Interviewer places some question to the interviewee and a direct answer address the dimension of the question. On the other hand, Secondary data are collected from Journals, books, newspapers articles, online journals, government reports, company sites and some other informative places. If these documents can provide enough proof then only these are considered as the secondary source of research method technology. In case of gather primary data, a particular group of people has been set for making an idea of the fact. Demographic facts are quite important in that sector as the sector determine the particular group and segmented questions for each group irrespective of age sex and class.
The target market of eBay is diverse as they delivered their product all over the world. They also take care of choice of people, their trends and fashion and needs. A huge target market is covered by them and people also love to acquire their quality products at low range. eBay has its own foundation and all kind of communal people work here to make the business field vast and building vibrant nature in business (David Stone & David Woodcock, 2014). The company also believes that people are basically good in commerce and people love innovative changes in lifestyle. They target children, men, women of all age and also take care of their needs so the people can buy anything they want. Psychographic segmentation in class and attitude in people is also important and eBay also segmented their products into such sections.
In case of future digital communication, eBay introduces an internet protocol where customers can Skype for their chosen product and eBay executives demonstrate the product for that customer. This is a huge change in technology and e-commerce revolution that will place in few days. The company also provides online apartment rental service and they have a huge range of payment platform (Bones & Hammersley, 2015). Online payment is now necessary to save time and eBay has managed all kind of online payment platform in them and they are updating that regularly. Communication is the only connectivity that people get touched with eBay executives so eBay provides training to their executives for better outcomes. eBay also introduces Multi-Carrier modulation which provides advantages in both systems of investigating and researcher with the high flexibility and high spectrum efficiency (Andaç, Akbiyuk& Karkar, 2016). Shipping procedure and online payment and return policy also change through the process. This is basically a digital domain platform that allows simple signal detection strategy and incorporates better operation process for eBay.
Market value and theoretical framework
From the above market positioning, it can be considered that eBay has secured a better place for them. They deliver their products at low cost and people love to use their quality products to such low ranges. eBay innovates their product in an effective way and this chaining process of introducing new trends in products is going on as per the requirements of customers. In case of categories,Flipkart has more than 100 brands where Snapdeal has more than 500 brands in their store (Kumar & Kumar, 2015). Whereas, eBay has more than 2000 brands in their store and all these brands showcase thepremium quality and have very low in price(Ebay.com.au,2018). More than 1.1 million products are the main asset for this company and as they are delivering some new marketing strategies and technological implementations their business growth is increasing. They have 45,000 sellers and the number of sellers signifies their market expansion (Vishwakarma, 2017). Different ages of people are their customers and people love to visit their page again and again for latest trends, new products, or to avail some discounts or offers. 8.04% of people daily visit their page and as per the viewing increase, the possible chances of selling and business expansion also increase (Ebay.com.au,2018).
Marketing Strategies
Marketing strategies are important to change the market position of the company by introducing a certain approach to strategy. Global positioning of business market changes due to that new approach and this domestic market enhances mass customization as well. Every individual customer can buy their products and all kinds of world-class products deliver from here. Implemented strategies focus on the best deliverable process and that provides excellence in delivery and mitigates the external challenges for better reach in market. Business market always shapes their strategies as per the need of customer (Price, 2014). In case of e-commerce, people can easily check new trends in fashion or in accessories they order anything that they want (Maarek, 2014). The move from function to process is very innovative for eBay, they have some technological assistance for that particular job and people love this facts delivery technology introduced by eBay. The reason behind revenue generation of the company is global expanse which is an advantage for eBay. They recognized the positive aspects and determine the needs of people so that customers visit their website again and again. The geographical arena eBay covers is diverse so they have segmented their style and fashion for each of the nation and implement some new items to classify the market of that region (Kraemer&King, 2017). Business purpose is the main aspect of inventing core strategy, this core strategy is important for the organization to create their aim and objective in business. From the core strategy, competitive positing can be gained. This competitive position provides a competitive advantage to the company and helps to meet the target market (Lee & Chou, 2014). All business strategies needed to be implemented in that for the proper control over the market can sustain. So this organizational control holds the marketing mix that influences organizational behavior regarding target market and revenue generation.
Marketing mix comprises four aspects of marketing and all these aspects creating better chances in business. These aspects are Product, Price, Place and Promotion.
Product
In an aspect of a product, quality products deliver from this e-commerce company and the range of product is diverse so customers can easily buy all these products without any hesitation. A secure payment option is there which is not considered to be fraud (Hartmann-Vareilles, 2017). A product like a décor, appliances, andequipmentfor vehicles, computers, furnishing and other miscellaneous items are the key attraction for this company and people can find all items in one stop.
Price
In case of price, innovative pricing policy needs to be introduced by the organizationtodevelopments in the business market (Jobs, Gilfoil & Aukers, 2016). eBay has to make a proper budget planning for their supply chain management, transportation, business extension, promotional activities in social media and web media. These take some cost and thus a planning over the money is important for this section.
|
Advertising Media |
Expenses |
|
Website planning |
|
|
Domain service cost |
$300 |
|
Software techniques and upgradation |
$200 |
|
Testing and classification |
$100 |
|
Advanced incorporated customisation |
$180 |
|
Copy editing |
$40 |
|
Social media advertising |
|
|
|
$40 (per month) |
|
|
$30 (per month) |
|
|
$20 |
|
YouTube |
$70 |
|
Online Advertising |
|
|
SEO |
$160 |
|
PPC advertising |
$150 |
|
Content writing |
$250 |
|
Total |
AU$1540 |
Table 1: Budget Allocation Digital Marketing
(Sourcing: Created by Author)
Promotion
In the modern business scenario, promotion is the best strategy to channelize their business. There are some discounts, coupons, promotional codes and bargain pages where these promotional activities have been done. There is eBay bucks rewards program for customers who are using the payment application PayPal. They will get 2% return every time they purchase something so this is a promotional aspect of eBay (Ebay.com.au,2018). eBay needs to promote this promotional news so that people get to know about these opportunities that company delivers to their customers. There are several promotional platforms like Facebook, Twitter, Instagram, and YouTube. These portals have made an immensely valuable responseto the company that is the reason most of the promotional factors are evaluated high in the company (Mishra & Prasad, 2015).
|
|
|
YouTube |
|
|
Brand presence and Promotion |
A separate page has designed for the promotion of their market. |
Linked with the profile page where the latest promotional actives will come. |
Different promotional videos to enhance company’s activity. |
|
Basic focus for social media |
Share all the promotional news and highlight the discounts so that people get aware of this. |
Sharing some public figure or celebrity using the product and that enhances better chances of business expansion (Al Tawara & Gide, 2016). |
Share all kinds of innovative video and demonstrate the product so the people love to use those products. |
|
Website traffic |
Images or products are liked with the price. |
Some of the products are low in the price range and these products also linked with the website. |
Under the videos company link is posted and through this link, customers can easily go to the main page. |
Table 2: Social Media Strategy
(Source: Created by Author)
Brand managing is the key issue for a company and their product, management and market relationship all are the responsible factors for that. Review from the customers and amend all detected part from them is the prime value addition to brand analysis. The next stage is associated with the market relationship. Sometimes customers are not happy with products, guiding them to change the product or to return the product is the main support that market relationship managers can do (Das, 2014). After that stage, Company has to choose their target people so that they can entirely focus on that section for better revenue generation. The last stage is associated with marketing program investment. The company needs to invest in that condition where they can earn some extra revenue by doing their business (Al Tawara& Gide, 2017). If they are not able to generate their revenue business market will fall and eBay understands that basic principle of marketing.
Conclusion
Therefore from above discussion, it can be concluded that better marketing needs digital communication and business will grow if this communication management reaches its level best. So better technological and operation procedures introduced by the company so that investment will resultant some revenue. Companies target market, value, and technologies implementation are discussed in this paper and also make some objectives that will be evaluated the marketing for better changes in the company.
References
Al Tawara, A., & Gide, E. (2017). A Comprehensive Literature Review on the Adoption of Social Media Marketing in SME Retailors in Jordan.
Al Tawara, A., & Gide, E. (2016). A Comprehensive Analysis on the Adoption of Mobile Technology by Using Big Data-Based Social Media Marketing in SME Retailers in Jordan.
Andaç, A., Akbiyuk, F., &Karkar, A. (2016). Customer satisfaction factor in digital content marketing: IspartaProvince as an example. Int’l J. Soc. Sci. Stud., 4, 124.
Bones, C., &Hammersley, J. (2015). Leading Digital Strategy: Driving Business Growth Through Effective E-commerce. Kogan Page Publishers.
Bradley, S. P., Madnick, S., & Kim, C. (2016). Digital Business. Chicago Business Press.
Bre?ko, B., & Ferrari, A. (2016). The Digital Competence Framework for Consumers.
Das, L. (2014). Growing E-Marketing Trends in India. In Strategic Marketing in Fragile Economic Conditions (pp. 227-236). IGI Global.
David Stone, M., & David Woodcock, N. (2014). Interactive, direct and digital marketing: A future that depends on better use of business intelligence. Journal of Research in Interactive Marketing, 8(1), 4-17.
Ebay.com.au (2018) One-of-a-kind. Totally Youretrieved from: https://www.ebay.com.au/ [Accessed on 14th January, 2018]
Hartmann-Vareilles, F. (2017, April). Achievements in civil intellectual property enforcement and recent initiatives within the Digital Single Market Strategy on the regulatory environment for platforms and online intermediaries. In ERA Forum (Vol. 18, No. 1, pp. 1-6). Springer Berlin Heidelberg.
Jobs, C. G., Gilfoil, D. M., &Aukers, S. M. (2016). How Marketing Organizations Can Benefit from Big Data Advertising Analytics. Academy of Marketing Studies Journal, 20(1), 18.
Kraemer, K. L., & King, J. L. (2017, January). Information Technology and Administrative Reform in the Digital Society. In Verwaltung, Informationstechnik& Management (pp. 51-64). NomosVerlagsgesellschaftmbH& Co. KG.
Kumar, R., & Kumar, V. (2015). Marketing Practices followed in Exhibition Industry: An Indian Perspective. Remarking, 2(6), 10-16.
Lee, M. H., & Chou, C. J. (2014). Exploring the Innovation Application of Web Camera Based on Business Models-Taking Parent-Baby Communication as an Example. Advances in Affective and Pleasurable Design, 19, 29.
Lucius, H. W., & Hanson, J. H. (2016). Consumerism and Marketing in the Digital Age. American Journal of Management, 16(3), 41.
Maarek, P. J. (2014). Politics 2.0: New Forms of Digital Political Marketing and Political Communication. Trípodos. Facultat de ComunicacióiRelacionsInternacionalsBlanquerna., (34).
Manfreda, A., Trkman, P., Groznik, A., &Erjavec, J. (2017). Local Online Platforms–Surviving in a Global Market.
Mishra, O., & Prasad, A. (2015). INNOVATIONS IN E-BUSINESS. INNOVATIONS, 4(8), 5.
Nair, H. V. (2015). Digital marketing: a phenomenon that rules the modern world. Reflections-Journal of Management, 5.
Price, D. J. (2014). Leaving Feedback: An Analysis of Ebay, Online Auctions, and Personal Jurisdiction. U. Ill. L. Rev., 231.
Stone, M. D., & Woodcock, N. D. (2014). Interactive, direct and digital marketing: A future that depends on better use of business intelligence. Journal of Research in Interactive Marketing, 8(1), 4-17.
Vishwakarma, P. K. (2017). Emerging Online Frauds: Detection and Their Possible Controlling Strategies in E-Business.
Yadav, M., Joshi, Y., & Rahman, Z. (2015). Mobile social media: The new hybrid element of digital marketing communications. Procedia-Social and Behavioral Sciences, 189, 335-343
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