COURSE WORK BUSINESS CLASS Essay

The chapter under consideration covers the concept of marketing mix, as well as different approaches to and structures of it as 4Ps, 7Ps, and 5Is, stages of brand positioning and target market determining. However, these approaches can be mixed accordingly in order to satisfy different segments of market and correspond to different spheres of application, in particular new forms of media such as Internet.
The practice is showing a great number of the examples for the successful application of e-marketing, while the virtual sphere of business has been constantly developing and changing. However, now we can state that Internet marketing has a significant impact on many others areas of business, and actually influences the whole market and the presence and place of each concrete company on it. However, Internet has made the greatest impact on advertising and marketing: just within several years, the amount of advertising budgets in the global network has grown to tens of billions dollars per year. Especially indicative is the fact that in post-crisis 2009, when all the other media showed a sharp decline in advertising budgets on the value of 18% (TV) to 40% (radio), the market for online marketing was growing.
But surely, activity on the Internet has its own peculiarities; and when a company starts conducting business through the Internet on its website, it should take into account the peculiarities of the global network differing it from the standard marketing approach.
Consideration of the marketing mix concept (including product, price, place, promotion, people, physical evidence, and processes) should surely be an integral part of creating a website. This procedure helps determine the features of the site and form a model of the two-way communication between the organization and its target audience on the Internet. In our opinion, one of the most important factors influencing further e-marketing strategy can be online value proposition. The Internet has almost unlimited possibilities in terms of the amount of information that can be placed on a website to show the buyer all the ways of using a product or service. This information is a means to enhance the value of the goods. Thus, it is possible to convince the user through the website that the product provides the necessary value.
In addition, we can conclude that when forming the media plan of an advertising campaign, a pledge of the successful promotion in the Internet is the coordination of promotional activities with the events in the company. Internet advertising is a means to achieve synergy effect from the company’s advertising policy, offering an additional channel of influence on the audience. The probability of responding to the advertising message increases if the buyer receives the information through various channels of communication. Media plan in the Internet can be change dynamically depending on the results of advertising, and can be changed in just one day.
While working with the website users also take into consideration its convenience, the ability to get help, options of site navigation, site search, the ability to communicate with company managers, and the ability to quickly obtain the necessary information.
On the whole, evaluating the effectiveness of Internet promotion first of all one pays attention to the following indicators: the overall distribution of users in information sources, the quality of search traffic, the effectiveness of contextual advertising, the effectiveness of banner advertising, visitor loyalty, returns to the site, and repeated purchases.
With these data one can easily determine the cost of attracting one visitor and one commercially useful action (filling out a form, registration, purchase). Then it becomes much easier to determine the necessary rate of budget increase, and most importantly – what it should be targeted at in order to achieve the desired level of sales.
Thus, the components of the marketing mix considered in the chapter when applied in website development can contribute to understanding the principle of e-marketing and allow creating an effective model for the company’s presence on the Internet.