Post on 17-Oct-2014
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ICT and E-commerceANNUSHA S BRIDGLAL
How does Technology Influence Marketing?
•Technology acts as a catalyst for today’s changes in how marketing is done.▫Easier Access to More Information▫Possibility of people to Network with each other
•Traditional marketing: ONE way flow:
•Today: Technological advancements and Social media give consumers the collective power to dictate what companies do.
Company
Consumer
TRINIDAD’S MARKETING LANDSCAPE
•Lack of integration of technology and ICT processes.
•In my opinion, we are still strongly rooted in traditional marketing, with very little emphasis being placed on e-commerce processes and online niche marketing.
TRINIDAD’S MARKETING LANDSCAPE•There has been a recent growing trend
toward online buying via Facebook. Although it increases consumer choice, they are sometimes subject to escalated prices.
Local Enterprises must adopt an Evolving Business Strategy
Strategy
Must not be static
Tactics
Companies who Successfully Adopted an Evolving Business Strategy
DELL: Success Through Innovation
1985
•Dell changed his strategy to begin offering built-to-order computers.
1990
•Revenues had climbed to $500 million
1997
•Dell’s internet sales had reached an average of $4 million per day.
2000
•Dell’s revenues had topped an astounding $25 billion
Dell’s Strategy: No More Middle Man
•Superior customer choice: Configuration
•Discounted price: due to cost savings from cutting out retail middlemen.
• Internet-based direct sales model offered:▫wealth of market data ▫used to forecast demand trends, and▫carry out effective
segmentation strategies
How can Local Companies benefit from New Channels
• New media channels such as social media marketing and online advertising/e-commerce are becoming more and more popular, especially among specific market segments such as generation Y and part of generation X.
SOCIAL MEDIA MARKETING• discussions
forums, corporate blogs, community groups, etc.
E-COMMERCE• Sales
expenses are cut down when using e-commerce enabled websites.
ONLINE ADS• lower costs
than traditional media advertising
INFORMATIONAL SITES• can be used as
ways to communicate the messages and/or drive customers to the stores
ONLINE PROMOTIONS• offer new sales
promotion tools
COMPANIES/CUSTOMERS• can save
money by using Internet to compare sellers’ prices before purchasing, to train staff or to hire employees
Benefits to Local Companies
•Cut Costs: inventory costs etc.•Build Relationships with customers via
effective CRM.•Deliver exactly what the customer wants:
Customization.
The Future Of Marketing!•Mobile Marketing
The Future Of Marketing!• E-COMMERCE
The Future of Marketing!
•Blogging
The Future of Marketing
• Radio-frequency identification (RFID)▫Is the use of a wireless non-contact
radio system to transfer data from a tag attached to an object, for the purposes of automatic identification and tracking. May be used to replace price tags etc.