Industry Analysis Paper
Industry Analysis Paper
Introduction
E-marketing is defined as “a type of e-commerce that achieves marketing objectives through the use of electronic communications technology such as the internet, mobile phone, e-mail, and databases” (Smith & Chaffey, 2005). Smith and Chaffey (2005) emphasizes the following points:
It should not be the technology that drives e-marketing, but the business returns from gaining new customers and maintaining relationships with existing customers.
E-marketing does not occur in isolation, but is most effective when it is integrated with other communications channels such as telemarketing, direct-mail, personal selling, advertising, publicity, sales promotion, and other promotional techniques
E-marketing should be based on knowledge of customer needs developed by researching their characteristics, behaviour, what they value, and what keeps them loyal.
Online channels should also be used to support the whole buying process from pre-sale to sale to post-sale and further development of customer relationships where this is appropriate.
The web and e-mail communications should be personally tailored to individual buyers based on the infomation obtained in the research
This paper will explore the evolution of market research and intelligence, evaluate the key external factors that have spurred or inhibited the development of e-Marketing, show the growth, and access the level of commitment to e-Marketing in the retail industry.
Market Research and Intelligence
Market research is a systematic approach to collecting, analyzing, and reporting data relevant to a business’ specific marketing situation. There are many sources in which to collect this data including but not limited to internal sources, periodicals, commercial data, and government publications. A company may also hire a market research firm to conduct a custom marketing of specialty-line research strategy. Market research information is then used to discover market opportunities, estimate future demand, or survey buyers’ intentions.
Market intelligence supports the business goal of identifying trends, government regulation that affects that industry or analyzing market segments. Retailers use market intelligence by sending out shoppers to their establishment in order to access how employees are treating customers and to access overall customer service. This information is then used to make improvements or access market opportunities.
Growth and Development of e-Marketing in the Retail Industry
In the past retailers used commercials, print advertising, and Sunday sale circulars to market to customers. In today’s age of technology, those medias alone simply will not work. Today’s retailers are “focused on driving site traffic, commerce, or both. Tactics primarily revolve around affiliate and search marketing, focused cost-per-click, and cost-per-sale display advertising. From a site perspective, advertisers have worked improve site usability and