Questions:
1. Search for information about Amazon Marketplace and eBay Stores on the Web and in your library that will help you make a recommendation to Betty regarding which alternative would provide the best avenue for her online business expansion. Support your recom¬mendation with relevant facts, including specific costs of operating each type of store and specific benefits that Betty could gain by using one or the other. Summarize your recom¬mendation and sopping facts in a report to Betty.
2. Outline a strategy. that Betty could implement using a social networking site such as Facebook that might direct traffic to her Web site, to her auctions on eBay, and to her products for sale on Amazon.com. For each element in the strategy, provide an explanation of how it would help achieve Betty’s goals. Summarize the social networking promotion strategy in a report to Betty .
Online stores have become a boon for online traders and buyers. Marketing through online process is quite beneficial as it helps the management to reach out to maximum number of clients from different markets. However the task to approach different clients is not an easy task. The management needs to plan and implement the right steps through which the task can be easily achieved by the company. Online promotional activities are the best for small and medium sized establishments that prefers to spend less on the marketing strategies. Amazon and e-Bay are some of the reputed online stores that have been successfully serving the clients from different segments. Online marketing is the best method, through which an effective strategy for promoting the goods and services can be developed and implemented. Apart from this, the companies can always customise the requirements as per their needs. Clients on the other hand, prefer together maximum information about the products and services, without having to travel to the stores. This is possible through online stores, where the essential information can be gathered instantly without spending much time on the same. These days, it is quite important to own an official website, and for this the company needs to seek assistance from an expert. Through the website, the management of the company can interact with the clients and develop the best possible strategies through which the clients can be approached and convinced about the products (Bolton, 2013).
1. Amazon market place and eBay store on the web. The best strategy is known as online business expansion. Include cost for maintaining different stores and benefits associated with the same
Betty has a store in Indiana that sells exclusive and antique glass works. The stores do well during weekends, when the number of tourists is quite high. Betty auctioned some of the products to the clients, and was happy with the results. Thus, Betty proposes to introduce to online stores, where the clients can be approached and sales can be increased. The products sold by Betty are quite antique, and thus the need for the best online promotional activities needs to be undertaken. Thus, Betty has proposed to introduce official website through which the maximum number of clients from different parts of the country and world can be approached. Amazon and eBay are some of the successful online companies that have been rendering quality and reliable services to the clients. This has been possible due to the introduction of effective and workable online marketing strategies (Fain and Pedersen, 2006).
Betty has medium sized stores that functions well during some months of the year. Besides this, Betty has been working on different strategies through which the sales for the company could be increased, without adding to the operational expenses. Internet marketing is quite a feasible option for the fact that the company can directly approach the clients and positively influence the buying ability. Apart from this, clients of different age group prefer social media for checking on the new products that is being sold by the company. Mobile internet is another feature through which the clients can check on the details about the products, even when they are away from the computer. With the help of the internet marketing, it is possible for Betty to create positive relationship with the existing and new clients. Information can be directly shared with the potential buyers, and the request and questions can be answered on a timely manner. It is preferred for low cost factors, which also enables the company to use personalized method for communication. Through online marketing process, the company can overpower the issue associated with the distance factors. The products can be services can be shipped out to the clients, without any hassle. It can be also done by setting out local outlets that would enable the company to reach out maximum number of clients, within short span of time. Such an option is best recommended for companies that don’t prefer to hire the services of a supplier for distributing goods to the customers (Gonzalez and Palacios, 2004).
This is one of the easiest and effective methods for marketing the services that is being sold to the clients. The success of the company depends upon the relationship that has been maintained with the potential buyers. In other words, it is quite important to develop the best strategies for retaining customers from different markets. Betty can retain the customers by sending personalised messages about the products to the customers. Besides this, it is also possible to keep a follow up about the products and services that are intended to be sold to the clients. Customers always prefer to be recognized and appreciated for the transactions that are done between the company and the clients. This is possible by introducing personalised services through which the customers can be approached (Haenlein and Libai, 2013).
The prime objective for selecting online marketing method is to reach out to maximum number of clients from different markets. In the similar manner, an attempt is also made to reduce the cost that is incurred on the promotional activities (Fain and Pedersen, 2006).
Betty has to consider the below mentioned points at the time of planning for online marketing-
In this process, the need to promote the official website for the company has to be planned and implemented in the right manner. This will help in reaching out to maximum number of clients. The strategy also includes preparing effective communication method, through which the necessary changes can be implemented for attracting the clients. This is quite important, as the company can highlight the features of the services rendered to the clients (Kesharwani and Tiwari, 2011).
The usage of social media has increased tremendously. This has been possible due to the availability of different types of information to the clients. In this process, it is necessary to share the right type of information through which the clients can be retained with the company. In fact there is a direct relationship between the social networking factors, the stagey adopted, and the growth that has been planned by the company. Apart from this, it is also possible for the customers to recommend the services to their friends and family. This increases the possibility of attracting more clients towards the company. It is possible for the management to develop and implement an effective strategy through which the social networking factors can be used as one of the best tools through which the marketing campaigns can be developed and implemented (Kiang and Chi, 2001).
Through internet marketing, it is possible for the company to develop and implement strategies to offer personalised services to the clients. This can be done by evaluating the buying trends of the buyers from the past.
Benefits of stores
Benefits of online stores
The cost incurred by the stores is quite high, and it includes the expenses for set-up, hire qualified staffs, and others. Such overhead expenses are quite high, when compared to the profit that is earned by the company.
In case of online stores, the management can reduce on the operational expenses, which usually reduces the earning capability for the company. Important interactions are carried out with the clients through online method (Kumar and Denish, 2009).
2. Strategy for implementing social networking sites like Facebook for auctioning the products sold by Betty on eBay. How it will help in accomplishing the task and promotional activities.
Online marketing strategy needs to be prepared after analysing the business objectives. This is one of the most important aspects that will contribute towards the successful business operational activities. The planned strategy needs to be simple, effective, and feasible. Sales through online method have increased due to the introduction of mobile applications that enables the users to check on the details without losing much time on the same. EBay is one of the leading online companies that helps small, medium, and large sized business houses to approach and sell the products to the clients. The online company sells the best product to the clients. Apart from this, the management ensure to provide the best services in terms of discounts and information about the products. This helps in attracting maximum number of clients, and enables the company to retain the members. Apart from this, the customers can find different branded products that are exclusively sold by the company. This is one of the reasons; the sales for different products sold on e-Bay are gaining popularity. Betty can certainly choose to sell the products through e-Bay or through other methods. However, it is quite important to select the best method through which the sales for the products and services can be drastically increased. This is necessary for approaching maximum number of clients and convincing for the purchase of the products that are sold by the company (Kumar, Sunder, and Leone, 2014).
Online marketing requires online strategy planning. This is one of the most important factors that would help the management to analyse the changes that needs to be implemented for increasing the sales. In this case, the steps that are proposed to be included in the method need to be analysed. This will help in analysing the challenges and selecting the best option that would help in approaching and convincing maximum number of clients from different markets. The strategy needs to be related with the objectives of the company. This would help the management in acquiring the set target, without losing much time on the same. Through this process, it is possible to carry out the promotional activities for auction and others as well. Both the factors are quite important as this will help the management of the company to plan and implement the right strategies through which the changes can be introduced (Mende, Bolton, and Bitner, 2013).
Auctioning through the online method is one of the most important factors, as the company can easily get connected to different buyers from various markets. Besides this, it is also possible to interact with the potential buyers and talk about the details of the products that have been sold by the company. In this method, the company need to attempt to provide accurate information to the potential buyers. This will help in attracting and retaining maximum number of clients.
Some of the strategies for promoting the goods and services to the clients through online method are mentioned below –
1. Developing plans to introduce effective communication method. This is necessary for interacting with clients and convincing them for the purchase of the goods and services sold by the company
2. Allowing clients to access maximum information about the products that are intended to be sold by the company
3. Developing strategies through which the clients can compare the services with other companies that sell similar kind of products
4. Design effective website for the company, as customers would be able to check on the details in the best possible manner (Kiang and Chi, 2001).
It is quite important to implement the changes, as this will help the company in accomplishing the below mentioned tasks –
The promotional activities have to be simple and effective, as this will help in developing and implementing the best strategies through which the clients can be approached. At the time of planning for the promotional activities, it is essential to analyse the changes that are required to be implemented by the company. This has to be done with an intention of attracting maximum number of clients. In this process, the type of promotional activities that needs to be selected has to be decided. This includes selecting the better method as it will help in reaching out to maximum number of clients, regardless of their age and location. In this case, it is essential to present the details of the product in the best possible manner. This will help in capturing the attention of the readers or viewers without any hassle. The features of the products and services needs to be discussed with the potential buyers, as this will increase their knowledge. Small and medium sized business houses usually look around for the best deals or methods through which the sales for the products can be increased. For this, it is essential to draft policies for approaching maximum number of clients. As this is cost effective method, the company can draft the best policy through which the targeted clients from different markets can be easily reached at the stipulated time frame. Through this process, the company can save on the transactional expenses and implement strategies for increasing the level of customer services. Besides this, the management don’t have to worry about introducing print or distribution methods, which is usually considered to be quite expensive. Apart from this, the management can also plan to provide 24/7 hour services to the clients. The customers can post in the queries, and it would be answered by the representative of the company as soon as possible (SEMPO Research, 2009).
Conclusion
Online marketing has become a need for every company that aims towards success. In this case, it is essential to adopt and implement an effective strategy through which the marketing process can be implemented by the company. The challenges faced by the companies can differ from each other, and thus it is essential to draft the right type of policies through which the issues can be overpowered. In this process, the needs and future objectives of the company need to be analysed. This will help in achieving the set target. Apart from this, the strategy that has been planned to be adopted and implemented by the company needs to be simple and effective. The prime objective of the company is to reach out to maximum number of clients, at the short span of time this will help in achieving the best target that would help in achieving the set out objectives by the company. It is quite important to share the right type of information with the clients as this will help in increasing the sales.
Betty intends to expand her business through online process. In this process, the below mentioned factors needs to be handled in the right manner –
References
1. Bolton R, 2013. To JM on Its 75th Anniversary. Journal of Marketing 75:4, 129-131.
2.Fain D and Pedersen J, 2006. “Sponsored Search: A Brief History”, Bulletin of the American Society for Information Science and Technology, vol. 32, no. 2, (2006), pp. 12-13
3. Gonzalez F and Palacios T, 2004. “Quantitative evaluation of commercial websites: an empirical study of Spanish firms”, International Journal of Information Management, geocart.com : https://www/geocart.com/online-business-success.asp, vol. 24, no. 4, (2004), pp. 313-328
4. Haenlein M and Libai B, 2013. Targeting Revenue Leaders for a New Product. Journal of Marketing 77:3, 65-80.
5. Kesharwani A and Tiwari R, 2011. “Exploration of Internet Banking Website Quality in India: A Webqual Approach”, Great Lakes Herald, vol. 5, no. 1, (2011), pp. 40-58.
6. Kiang M and Chi R, 2001. “A framework for analyzing the potential benefits of internet marketing”, Journal of Electronic Commerce Research, vol. 2, no. 4, (2001), pp. 157-163.0.
7. Kumar V and Denish S, 2009. Expanding the Role of Marketing: From Customer Equity to Market Capitalization. Journal of Marketing: Vol. 73, No. 6, pp. 119-136.
8. Kumar V, Sunder S, and Leone P, 2014. Measuring and Managing a Salesperson’s Future Value to the Firm. Journal of Marketing Research 51:5, 591-608.
9. Mende M, Bolton R, and Bitner M, 2013. Decoding Customer–Firm Relationships: How Attachment Styles Help Explain Customers’ Preferences for Closeness, Repurchase Intentions, and Changes in Relationship Breadth. Journal of Marketing Research 50:1, 125-142.
10. Schulze C, Skiera B, and Wiesel T, 2013. Linking Customer and Financial Metrics to Shareholder Value: The Leverage Effect in Customer-Based Valuation. Journal of Marketing 76:2, 17-32.
11. SEMPO Research, 2009. “The State of Search Engine Marketing 2008 Survey of Advertisers and Agencies Search Engine Marketing Professional Organization”, SEMPO, February, Search Engine Marketing Professional Organization.
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