Marketing Strategies With Ecommerce

Marketing Strategies with Ecommerce

MBA 501

University of Phoenix Online

Introduction

In today's global economy, the Internet is an effective way to market goods and services for many companies. As the commercial landscape continues to change, the Internet provides a direct connection between international and U.S. businesses. This connection shortens the communication gap between companies and provides a forum for daily negotiations. This dynamic effect on commerce has had a direct impact on the marketing strategies used to promote growth and business development into existing and new markets as well. Established companies such as National Geographic and Time magazine have initially entered the Internet market conservatively and have realized its potential.

Marketing Strategies and Technology

Companies such as Marketworks, has capitalized on the openness of the free market in the U.S. and abroad. Their product called US Managed eCommerce Solutions is a comprehensive package that provides businesses the know-how, technology and resources to execute ecommerce ventures. This online product provides customers with on-line marketing expertise and day-to-day ecommerce operations. As companies such as 3M, Brother and B&Q implement the usage of the product; there is a direct correlation between on-line sales and incremental revenue. This ecommerce engine allows millions of customers to shop on -line and includes on-line competitive pricing and promotions as well. At this time, Marketworks delivers service to 37 countries and powers over 4000 businesses (ThomasNet, Incorporated, 2006).

Most business networking used to occur when associates met for lunches with colleagues and exchanged business cards. With the increasing usage of the Internet, it is becoming more imperative for businesses to connect with each other through social networking at web sites such as Ecademy.com. Many businessmen credit this site with elevating their business profiles and generating new clients. Marketing consultant Max Blumberg said, "I set up a club where members can get help with common marketing challenges. Many of these people become clients and friends with whom I socialize. We reciprocally use each other's services." (About: Marketing, 2006). Allowing a free exchange of ideas between colleagues, no matter how great the distance, is the key in some of the greatest successes in business.

Multimedia Marketing

The magazine industry is another example of companies who are learning how to use the Internet to promote and market their products to on-line customers. This paradigm shift from traditional marketing by using television, billboards and other types on media marketing has raised several economic and financial challenges. One challenge is the marketing budget and the funds allocated for such marketing. Many companies see this as an increasingly costly promotion of their product and are not sure on the return on investment. However, some magazine companies see the Internet as a marketing gem due to the ability to attract millions of customers from around the world. According to GR8RIDE CEO George Vrabeck "When you're marketing to a real niche audience like this (specific car enthusiasts), you don't want to try to be all things to all people," he says. "You want to be very specifically targeted on your niche. The best approach is to go where the people are" (Buss, 2002). The Internet has allowed many companies to reach their specific target audience in vast parts of the world.

National Geographic has been a globally branded name for many years and has been exploring effectiveness of the Internet with its website, National Geographic. COM. According to Mitchell prayer, "Right now, we have more than enough traffic to our website". National Geographic see the marketing piece of the website a relevant platform in which to broaden awareness of their product. The company is continuing