Submitted By: Tech 4.0 (Group 16)
Amey Kolhatkar (09BM8008)
Balaji M (09BM8015)
Divya Goel (09BM8026)
Rahul Yadav (09BM8073)
Marketing is the beginning of everything. An old saying states that ‘‘nothing happens until a sale is made,’’ and that is true. But until someone does some marketing, there is nothing to sell, and no premise on which to sell it. Marketing is the eyes and ears of the company, tuned to the customer, and to competition. It is the driving force behind new products, behind the promotion and advertising and all of the other communications about the new products. However, in today’s world of exponential growth of Internet and advancements in Web 2.0, Media Marketing is a thing of past. If you want to be heard today, then you have to appeal to each and every person in your target segment. Here comes the role of Online Marketing.
Online Marketing is a powerful and self-sufficient marketing strategy. A range of Internet channels are used to motivate prospects to visit your website, and to promote a favourable image of your company, its products and services. Targeted website traffic is a key objective of online marketing as it encourages genuine prospects to purchase products and services, find company, product and service information, interact with your brand (through forums, chat rooms and competitions), subscribe to newsletters and mailing lists, and download documents and applications. Web 2.0 here provides tools that enable to directly increase market exposure and provide visitors or customers a better experience that allows increasing conversions.
Exponential growth of Internet over years, technical advancements, and the need for direct communication to target audience in today’s extremely competitive and globalized business world, have made the extensive use of Online marketing strategy completely inevitable.
Online Marketing offers following advantages over traditional Media marketing:
• High leverage - reach millions of prospective customers instantly
• Low overheads - never pay for printing, postage or advertising again
• Measurable results - only spend money on things that you know work
• Predictable returns - only reproduce your best results
• Low risk - avoid the costly pitfalls of traditional marketing techniques
Good Search Engine Marketing strategy is a lifeline to effective online marketing. Here comes the glorious concept of SEO – Search engine optimization – the study of how the search engines work, how they find a site, what are the keywords that the users search every day, how does the search engine placement work? SEO firms would search for the keywords and then suggest you to add those keywords in your site and that will bring your site name in various results. The aim behind search engine marketing is to help the site gain as much page rank as possible and putting links on other sites. This procedure helps to attract more visitors on site. Online marketing firms with a strong focus on direct, measurable results for its clients use a powerful combination of technical and marketing expertise, sometimes through online marketing agencies, to achieve their business goals in a practical, cost-effective way.
Marketing before Web2.0
With the world changing at every nanosecond, marketing is also reeling under a whirlwind of change. Traditional marketing doesn’t hold sway with many competitive and ambitious corporate now. Traditional marketing operates based on the strategies like – Four P’s (marketing mix of Product, Price, Promotion and Placement) and Segmentation (Categorizing audiences). It is company-focused and product-based. It intends only to increase the visibility of the company and its brand. The message conveyed to the customer is company-controlled and motivated unlike in latest Web 2.0 enabled online marketing strategy, which is consumer-focused and attuned to consumer's interests. In traditional...