Digital Marketing Definitions
What is Internet Marketing?
It is the promotion of products, services and ideas over the Internet.
What is Pay Per Click/Impression?
Advertisements for brands and products are done on pre-decided websites and help in genrating leads for companies.
What is Search Engine Optimisation?
The process of improving the visibility of a website or a web page in search engines via the "natural" or un-paid (organic or algorithmic ) search results.
What is E-Commerce?
A model whereby goods are sold directly to cunsumers (B2C), businesses (B2B) or from consumer to consumer (C2C).
What is Lead-based Websites?
A strategy whereby an organisation generates value by acquring sales leads from its website, similar to walk-in customers in retail world.
What is Affiliate Marketing?
A process wherein a product or service developed by one entity is sold by other active sellers for a share of profits.
What is a Website?
A collection of one or more web pages grouped under the same domain name.
What is a Blog?
A type of website or part of a website supposed to be updated with new content from time to time.
Marketplace:
The physical world of resources that are tangible ( which we can see or touch) in nature.
Marketspace:
The virtual (or digital or online) world of information that organisations cannot see or touch.
Value Chain:
A model which is synchronised between the firms' supply side and the demand side so as to provide added benefits to its customers.
Visibility:
Observing the physical processes more minutely through information -based resources.
Mirroring Capability:
A process where the organisations try to create virtual value chain for the physical one.
Network Economy:
An arrangement which has evolved with the introduction of the virtual world.
Economies of Scale:
Anything that helps the organisation to reduce its cost.
Economies of Scope:
It exists when it is economical for the firm to produce multiple products jointly rather than producing them separately.
What is E-marketing?
Digital media such as Web, email and wireless media and also includes management of digital customer
data and electronic customer relationship management systems.
What are Demographic Factors?
Demographic characteristics such as sex, age and social class or income class of the consumers.
What are Psychographic Factors?
Attitudes, interest and opinions of the consumers.
What is Virtual Research?
Research done using Internet.
What is an E-research?
Research done online.
What is an Email?
Electronic mail, which is a service that sends messages on computers via, local or global networks.
What is Bit?
The smallest unit of information a computer can hold.
What is Byte?
The amount of memory space used to store one character, which is usually 8 bits.
What is PDF?
A file format and also a file which Adobe Reader can open.
What is an URL?
Uniform Resource Locator, the global address of documents and other resources on the World Wide Web.
What is Hypothesis?
A tentative proposition put forward for test, the correctness of which is in question.
What is FAQ?
Frequently asked questions are questions that are asked repeatedly by the customers.
What is Search Functionality?
The site should always be according to the convenience of the customer and not company's organisational structure. It should be easy to locate the desired information like product and service details, prices, etc.
What is Service capabilities?
This innovative technology helps to provide better service to the customer with ease and at low cost.
What is Customer delight?
Keeping the customer more than satisfied.
What is E-CRM?
Electronic customer relationship management is the modern technique used to help an enterprise to manage customer relationships in an efficient way.
What is E-loyalty?
When loyalty of the customer is achieved by electronic customer relationship management.
What is Upselling?
A sales technique whereby a salesperson induces the customer to purchase more expensive items, upgrades or other add-ons in an attempt to make a more profitable sale.
What is Cross-selling?
Selling an additional product or service to an exisiting customer.
What is Data Warehousing?
Collection of integrated data used for decision-making.
What is Data Mining?
The process of extracting new knowledge, previously undetected, selected from databases for actionable decisions.
What is Community?
A network of people to intreact with each other.
What is Virtual Community?
An online network set to make interaction between marketer and customer more effective to enhance the business.
What is Blog?
A websites maintained for regular entries and posting of comments, events, news, graphics and video.
What is Podcast?
A type of blog which is generated to voice an opinion by audio or video.
What is Privacy?
A moral right of individuals to avoid intrusion into their personal affairs by third party.
What is Personal data?
The data of an individual about personal identities,address, contact information, e-mail address, workplace and income status, etc.
What is Security?
The security of the personal data and privacy which should be maintained.
What is Electronic payment systems?
Different payment systems which play a significant role in transaction in the e-commerce world.
What is Electronic fund transfer?
It involves electronic transfer of money by the financial institions.
What is E-Cash?
An electronic store of monetary value on the technical device that can be used for payments.
What is Firewall?
A security measure to prevent unauthorised activities between the internet and the private network.
What is Risk?
Any chance or possibility of danger, loss, injury or any other adverse situation.
What is Information security?
The protection of the information collected by the company for any purpose.
What is Reliability?
The personal data collected should be reliable and relevant in relation to the purpose or purposes for which they are processed.
What is Firewall ?
A specialised hardware, software or software-hardware combination used to prevent unouthorised activities between the internet and the private network.
What is Customers' right?
Right of customers while having transaction with the suppliers.
The 14 Ps of Internet Marketing Mix?
The conventional marketing mix (four Ps) is insufficient to fulfil marketing objectives of a firm. Since, virtual markets are projections of normal markets, they need to have an insight that surpasses this conventional outlook. Hence, the conventional marketing mix theory can not suffice, whereby it becomes necessary to stretch marketing mix theory by adding few more Ps to the conventional four Ps theory. The following is the modern theory of marketing mix which suits business needs; they are also explained with respect to virtual markets.
1. Product:
Various products can be launched in almost all parts of the world by mentionning product features, technical specification, uses, installation procedures, prices,etc.
2. Price:
Prices can be lowered as compared to traditional markiting. There are opportunities for organisation to adjust their prices according to supply and demand.
3. Promotion:
Instead of glossy, costly print of product /service literature, design good website content in effective way at much more lower cost than traditional ways.
4. Place:
The place is cyberspace.
5. Positioning:
With positioning, you can claim distinctive niche in the marketplace. Design your website distinctively for other billions of website.
6. Packaging:
Determine what to offer online. It may be simply a promotional package that specifies a physical product. The main objective of pacakging is to make it easier to sell and distribute with minimum marketing cost.
7. Portals:
A portal is a one-stop shop for information. It contains news, reference material, indexes,
navigation tools, search facilities, personalisation tools, etc.
8. Pathways:
Correct pathways to provide right direction to guide customer. Main dictionary and other things should be linked properly.
9. Pages:
Pages of website should be good enough to maintain customers' interest in your website. It should not be to short and long so that customer can stay for longer time.
10. Personalisation:
It is the ability of the user to personalise the layout of home page.
11. Progression:
Progression is the art of guiding a user through information as how to pay for goods or services.
12. Payments:
Payment through various modes like credit cards and internet banking, etc.
13. Processes:
Customer must be satisfied before, during, and after sale.
14. Performance:
Performance in terms of online experience and satisfaction, business in terms of service delivered, revenue and profit.
What are advantages of Internet Marketing or Online Marketing or Digital Marketing or E-Marketing?
Marketing on the Internet can bring advantages to every business. Organisations must have a definite strategy to take advantage of this ever-changing dynamic market. Marketing on the internet brings many new opportunities for the businesses.
The following are some of them:
Global reach.
24-hours a day/365 days a year opening.
Self-service.
Multimedia interaction.
Instant customer feedback.
Small and medium-size companies can compete with larger organisations.
Reduction in cost like store cost, staff cost, location, etc.
Speed of transactions.
Easy payment facility.
Following are the advantages generally accrued to business organisation by virtue of WWW:
Reaching new customers who are geographically dispersed.
Improved speed of business transaction.
Reduced transaction per cost.
New platform for entirely new products and services.
Improved and expanded offline services.
Tracking departure and destination of products.
Information to customer at no cost, and be available 24 hours.