A Study on Internet Marketing Strategies Essay

A study on online marketing strategies used by new media entrepreneurs in India. S. Vivin RichardMs. Sri Jothi M. Sc Electronic Media,Lecturer Department of Media Sciences Department of Media Sciences College of Engineering,College of Engineering Anna University, Guindy. Anna University, Chennai Abstract: This research investigates the characteristics of online marketing strategies used by new media Entrepreneurs. This research helps to understand the nature and extent of business strategies used by successful online Entrepreneurs. Nowadays, most people prefer to get first-hand information from the internet. Being a terrific medium of communication, internet not only helps people to stay informed but gives them a fair idea about the consumer market as well. Hence, it is important to analyze and utilize the power of internet technology in the best possible manner. The need is to analyze and research needs of customers who come online to satisfy their wants. 1. 2. Introduction: Internet is primarily a source of communication, information and entertainment, but increasingly, it also acts as a vehicle for commercial transactions. Since the explosion of the web as a business medium, one of its primary uses has been for marketing. Soon, the web could become a critical distribution channel for the majority of successful enterprises. (Thompson 2002) In online world, companies try their best to make their products much more physically good that actually becomes the possession of life of a customer. The concentration of internet marketing is giving a similar experience to a customer ad help him/her to get the utmost satisfaction. Internet is a large repository of information, ever expanding database and a true knowledge hub. The impact of internet over people has grown over a period of time and people started trusting internet and they bank over the internet for major activities, be it personal, official and business related. Therefore this presents the perfect scenario for the entrepreneurs to market their products across the globe, to a large customer base that their sales force cannot even dream of identifying. Getting on the wings of internet technologies, organizations can easily enhance their overall worth by reaching to new heights of success. Online companies can engage in fruitful marketing activities by using effective new media marketing strategies to boost their product offering in the online market. 1. 1 Online marketing: Advertising in internet provides a major contribution to brand competition in the market. Advertising here not only provides information about a product or service but also promotes innovation. Besides it also facilitates consumer satisfaction. Big and small companies, individuals of all walks of life, major and minor events, concepts, etc. , nowadays lay their base on online marketing to get recognized in the market (Zarrella, 2010). When eBay was started, it was just a hobby, an experiment to see if people could use the Internet to be empowered through access to an efficient market. It was really about helping people connect around a sphere of interest so they could do business. † (Pierre Omidyar, eBay) 1. 2 Aim and Objective * To study the new media marketing strategies used by dotcom Entrepreneurs in India and to determine the most effective practices for the same. To study the dotcom entrepreneurs and their strategies in India. * To analyze the new media marketing strategies used by dotcom entrepreneurs. To identify the different marketing strategies of business enterprises using new media technology. * To determine the effectiveness of new media marketing. 3. Literature Review Scott (2009) states the reasons for brand promoters preferring online web for marketing is that the tools, techniques and content are constantly evolving. The buyers reward creativity by responding to the online efforts like: â€Å"If you are open to trying out new things, you can be first in your industry to use something new to communicate to your buyers†. The rules of marketing had to change and the web has proved a catalyst in bringing the changes forward and amplifying their scale. The sudden emergence of the Web 2. 0 marketing techniques demand additional approaches, while most marketers are still wrestling with the first generation, savvy brands are exploring the landscape that social media and social networks create for marketers. These techniques are allowing much deeper drivers in social change to be unleashed, with a profound impact on planning customer connections. The new generation of relationship marketing responds to the additional challenges of digital media literacy and in the right hands can trigger a rebuild of the entire marketing mix through different strategies. Relationship marketing for the Face book generation demands both thinking and acting differently (Chaffey 2003). Stroud (2007) says that the ability of social networking sites to generate these huge volumes of web traffic is proof of their huge popularity. Google, Yahoo and News International have bought themselves a presence in the social networking arena. The detailed rationale for these acquisitions differs but all have a common theme of wanting access to the enormous audiences. Visitors to online websties as well as social networking sites are significantly more likely than average to visit leisure-oriented retail site categories, such as music, jewelry/luxury goods/ accessories, consumer electronics and apparel. People typically enjoy sharing their experiences with these products, whether it is to talk about their new iPhone or the pair of designer jeans they just bought. Social networking sites offer the venue for those conversations to occur. Online media advertising is ideal for promoting brand recognition. Still, there is no doubt that advertising via online media sites is an effective way to increase your overall revenue stream (Brinlee, 2007). 3. 1 Research Methodology To analyze and find the effective use of online marketing strategy in developing a business online, and to find the effective marketing strategy used online by online Entrepreneurs. Communication was done with the survey method and content analysis in the research. Methods of Data Collection: The survey method helped in finding out the reach of the websites with their advertisements and marketing strategies which they use online to promote their business, and the ways of impact of the online marketing strategies. And the content analysis is another method used to analyse the different kind of communication strategy and marketing strategy used by the online entrepreneurs with certain parameters among the top 10 online e-commerce websites. 3. 1. 2 Research Design: This research study adopted survey and content analysis in order to find the effectiveness and the impact of the marketing strategies used in branding any product or the service among the target market through Flipkart. com, Futurebazaar. com and Naaptol. com with respect to international market group Amazon. com and ebay. in. 3. 2 Survey: Survey was conducted randomly among young adults community, by sending questionnaire through online to collect the individual opinion from the respondents. 3. 2. 1 Sampling Method Non probability sampling was used to collect the opinion from the online respondents. Purposive sampling method in non probability sampling was used to get the results. Questionnaire is used as a tool and online media is being planned to be taken as the medium of the findings. The total population is online media user community, but to collect the effective data the sampling is constrained to the target population like young adults, graduates within the age of 16 years to 40 years.