Class 1 Note
“Is Google making us stupid?”
+ too much information, less time on reading
“Are we reading more, but becoming less well informed?”
+ We are less well informed but google or web are not only inform but also quick search or interactive intelligence.
Class 2 Note
History of Internet and Internet Marketing.
Two concepts
“Information product” = Information, itself is the product
+ Database
+ Intelligence Service
+ High Value added product even cost more
“Information-rich product.” = Information-rich product is the information that comes with or information added the product.
Moore’s Law vs Metcalfe’s Law = computing power doubles and cut cost in half, while Metcalfe’s Law suggests the idea of power of network increases geometrically with each new connection.
Internet Marketing Concepts = Customer Acquisition + Conversion Retention + Value Growth
In practice – Ad, DM, BD, Direct Responce, E-commerce, and Customer Service and Support
Class 3 Note
Porter’s value chain
=supply chain management, product development, and customer relationship management.
Case: Dell
Value Customer input: efficiency with design
+ Mange Supply chain as single organization
+ Close customer relationships
Target Segmentation
CRM
+ Cost control creates customer value
+ Speed and agility
+ Extensive metrics in real time
+ Targeting global growth
Class 4 Note
Value Chain
Gather Information of trend in market and directly send to database.
CRM = Asset
Produce quicker from Europe which equals = cheaper
Feedback from customers in store: done with real time PDA’s inputting information, look at customers and dialog with them to get information on trends
- Supply chain management
- Royal Customer
- Customer involved product design
*Value proposition: Customer involvement in creating a trend
Class 5 Note
Business models:
• Articulate value proposition
• Identify target market segments
• Define structure of value chain
• Define cost structure and profit potential
• Explain position in value network
• Set forth competitive strategy
Class 6 Note
Today’s discussion was part 2 of the business model chapter.
Examples of the differences between business model and revenue model: Amazon’s business model is aggregator while its revenue model is a combination of e-commerce, advertising, and associates programs. WSJ’s business model is content while its revenue model is based on subscription.
A direct response medium is interactive. It can be used to require and retain customers. Testimonials can be effective and handy for direct response medium.
The critical strategical elements of direct response include: offer, service & support, creative execution, media, and e-mail list.
Important terms include “switching cost” and “Customer Lifetime Value (CLV).” I would need to look further in the book to fully understand the concept of CLV and also the Test Table 4-4.
Class 7 Note
design a test, establish test metrics, execute & monitor results analyze and report test results, and marketing decision
Test expose…
standard practice (test all marketing strategy), strategic questions (reactive lapsed customers), and tactical questions (which incentive to use). To design a test, we need to identify the marketing variables, the type of test, and the sample. Important factors to establish the test metrics include: significance and cut-off date.
Database Management
+ can be gathered from different sources: purchase, census, associations, research firms, survey, focus group, interview, and website.
Data mining
+ “set of statistical routines that permit pattern detection in large data sets.”
The hierarchy of customer-based marketing strategies:
1. information
2. interaction
3. transaction
4. personalization
5. customization
Task example = pay bills, entertainment, purchase, communication, and research.
Class 8 Note
7C’s are:
1. context – layout & design
2. content – text, pictures, sound, video
3. community – ways site enable user-to-user communication
4. customization – site’s ability to self-taylor
5. communication – two ways enable site-to-user communication or 2 way communications
6. connection – degree site is linked to other sites
7. commerce – site’s capabilities to enable commercial transactions
Context: The factors aspect of function include section breakdown, linking structure, and navigation tools. (include speed, reliability; platform independence; media accessibility and usability) = color scheme and visual themes
Content: offering mix, appeal mix, multimedia mix, and content type.
Offering Mix
Content of a site can include product, information, and/or services.
Sites frequently have a mix of all three elements
Appeal Mix
Refers to the promotional and communications messaging projected by the company.
Appeal mix should be strongly linked to the value proposition.
Two broad types of appeal: cognitive and emotional
Cognitive appeals focus on the functional aspects of the offering: low price, reliability, availability, customer support, and degree of personalization.
Emotional appeals focus on emotionally resonant ties to the product or brand, e.g. humor, novelty, warmth, or stories.
Multimedia Mix
Refers simply to the mix of media – text, audio, image, video, graphics – incorporated into the site.
Content Type
Information presented on a website has a high degree of time sensitivity.
Current content is highly time-sensitive information, with a very short shelf life.
Community
Defined as the set of interwoven relationships built upon shared interests.
Community is useful from many standpoints:
Community can create content or services that attract consumers to a website
It can serve as a means to build closer relationships between consumer and firm
And closer relationships between consumers.
Customization: personalization and tailoring. Examples of personalization include login registration and cookies; personalized email account; content and layout configuration; and storage and agents. Tailoring can be based on past behavior or behaviors of other users with similar preferences.
Customization can be initiated by the user (personalization) or by the organization (tailoring).
Personalization
Login registration
Having previously registered on a site, the user returns and enters the requisite identification information through the site interface.
The site recognizes the returning user, and configures itself to the user’s preset preferences.
Cookies
Most website owners want to identify visitors and understand how they are using their sites.
These sites attempt many times to track and gather data on returning users’ behavior by quietly saving identifying and tracking information on the users’ local disk storage in temporary files called cookies.
Personalized email accounts
Many sites provide email accounts for free to the user.
Users can send and receive mail from the site using a unique email address.
Content and layout configuration
Users can select screen layout and content sources based on their interests.
Storage
Sites provide virtual hard-disk storage space. Users can store email, URLs, and other interesting content on these sites.
Agents
Users can initiate computer programs – also known as agents – that are designed narrowly to perform specific simple tasks e.g. notify individuals via email when product is in stock.
Tailoring
Based on Past Behavior
Many sites adjust themselves dynamically base don a user’s past behavior and preferences.
E.g. price, payment terms and marketing messages
Based on Behavior of Other Users with Similar Preferences
Sites make recommendations to the user based on preferences of other users with similar usage profiles (e.g. collaborative filtering).
Communication: broadcast, interactive, and hybrid. Examples of broadcast include mass mailings, FAQs, email newsletters, content update notifications, and broadcast events. Examples of interactivity include e-commerce dialogue, customer service, and user input. Hybrid is a combination of broadcast and interactivity.
Connection: links to sites; homesite background; outsourced content; percentage of homesite content; and pathway of connection.
Commerce: registration, shopping cart, security, credit card approval, one click shopping, orders through affiliates, configuration technology, order tracking, and delivery options.
Building Fit and Reinforcement
The success of a site also depends upon the extent to which all of the 7Cs work together to support the value proposition and business model.
Fir and reinforcement are particularly useful in explaining how it is possible to gain synergy among the 7Cs.
Fit refers to the extent to which each of the 7Cs individually supports the business model.
Reinforcement refers to the degree of consistency between each of the Cs.
Class 9 Note
SEM
organic search and paid search. Organic searches are free. The steps involved are:
1. Entered Query
2. Matched Query
3. Analyze Words
4. Search Index
5. Rank the matches
Paid search
the query is matched to the search index while in paid searches, the query is matched to the ad database.
To optimize search engine marketing, factors are to pay attention to the keywords used in the content, in each web pages, the title, the website, and the description. Since search index and ad database are built by spiders and spiders cannot read materials in Flash format, use text.
Class 10 Note
Criteria of email principles:
1. relevance
2. respect
3. recipient control
Advantages:
1. can be developed quickly
2. content is flexible, including HTML, rich media, and video
3. distribution is controllable by marketer
4. can be tested and revised for effectiveness
5. measurable
6. inexpensive
Getting good opt-in lists is an issue
Levels of permission marketing:
1. opt-out
2. opt-in (double opt-in and confirmed opt-in)
Other techniques:
1. events
2. publicity
3. affiliates
4. portal relationships
5. viral