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The domain of marketing is also not far away from receiving significant changes after the Internet revolution. To promote products or services, the owners of MSME to giant industries can choose between conventional and cyber marketing. Unlike conventional methods, cyber marketing is based on an internet system, including promotion, product information sharing, communication, receiving feedback, distributing, and receiving customer payments. However, it is the sole decision of owners to choose any of the avenues according to their mission.Cyber Marketing Structure of Cyber Marketing
In cyber marketing, marketers can communicate with customers directly. This new domain of customer-owner linkage may create more business opportunities. Now marketers can make content about product details and offer them more innovatively and dynamically. Whatever the geographical zone, the marketers directly reach the customers with their products and offers. Because of a direct relationship with customers, the marketers segment the customer group into subgroups according to their needs and preferences, and these segments are utilized as a target customer group.
In the cyber marketing model, the first portion is ‘content’, which defines marketers’ objectives, identifies customers’ profiles, and creates a target customer community. The second part, ‘community,’ indicates the target community. In the traditional marketing process, sometimes remote geographical locations may cause a barrier to communication with the customers. Cyber marketing removes this limitation by converting these existing communities into the cyber community. The transaction becomes more stress-free because of the presence of these target communities. In the third part ‘commerce’ portion, the customer can access all the product-related information available on the site and even the marketers also get to know about the customers’ characteristics. In cyber marketing, consumers can promptly access the delivery process online and make electronic payments. So the cyber marketing concept opens a new opportunity for promoting and transacting products or services.Features 1. Consumer Details
In cyber marketing, companies implement various data mining tools to obtain consumers’ profile details actively. These tools use sorting, bunching, and correlating similar characteristics of consumers in a group. Customers’ purchasing behavior and past transaction produce data automatically related to customers’ profiles. These data help make customized products and segment the entire market into subgroups to identify the target customers. In cyber marketing, the segmentation process may reach the micro-segmentation where each customer gets equal importance. The recent growth in marketing indicates the presence of various cyber marketing tools.2. Product Development
Producing customized products is one of the important features, and for that purpose, marketers use product optimization tools to align customers’ requirements with marketing objectives. Here the marketer can measure the profitability at each stage of customization.
Today many products, including audio, video, cyber-related products, and books, are available in the market in digitized form, and these digitized products can be displayed, presented, and delivered through the internet. Other physical products with digital components can also be present on the internet.3. Branding
Branding is the image of a product or service to the customers, distinguishing it from similar products. Products on the internet can benefit from branding for a repeated exhibition.4. Fixing Prices 5. Promotions 6. Distribution
Cyber marketing is also recognized for actively disrupting the distribution chain. With the emergence of marketing concepts through the internet, the task of distribution intermediaries has become obsolete. Saving costs and time in distribution is a significant contribution of cyber marketing.7. Market Research
Online implementation of various computer-assisted data collection tools enables the active conduct of specific market research.
Though cyber marketing also has certain limitations, the accessibility and popularity of social platforms give ample scope to communicate and deal with customers more inexpensively and effectively.Recommended Articles
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