condense the following information to an executive summary;
Marketing is a societal process, which discerns consumer’s wants, focusing on a product or service to fulfill those wants, attempting to mold the consumers towards the product or services offered. E- Marketing is the marketing of goods and services by means of using digital technologies such as websites, mobile devices and social networking to help reach your consumers, create awareness of your brand and sell your goods or services. (Lyons, 2008).
Due to the increase in the online users, businesses increasingly rely on e-marketing (electronic marketing) to support their marketing efforts. E-marketing is often referred to as Online Marketing or Internet Marketing. It’s a useful way for marketers to boost their online presence and engage with their target audience.
Why is e-marketing essential? Discuss
E-Marketing, or electronic marketing, is essential in today’s digital age due to the widespread use of technology and the internet. It allows businesses to reach a larger audience and target specific demographics effectively. E-marketing is cost-effective compared to traditional marketing methods, which often require printing materials and advertising slots. With e-marketing, business can create personalize campaign, track results in real-time, and analyze data to make data-driven decisions. It also allows for seamless communication with customers through social media, email and other online channels. Overall, e-marketing is essential for businesses to stay competitive in the digital landscape and reach their target audience effectively.
Impacts of Multinational Corporations Engaging e-marketing on the World Economy
Multinational corporations engaging in e-marketing have a significant impact on the world’s economy. By utilizing online channels, these corporations can reach a global audience and expand their market reach without the need for physical presence in every country they operate in. This leads to increased growth and profitability for the corporation, as well as creating job opportunities in various countries. However, there can also be negative implications, such as increased competition for local businesses or reliance on outsourcing labor in developing countries. Overall, the impact of multinational corporations engaging in e-marketing on the world economy is significant and requires careful consideration.
Problems e-marketers encounter when doing business
E-marketers may face various problems when doing business, such as increased competition in the online space, fluctuating consumer behavior, and rapidly changing technology. With the rise of social media and online advertising, businesses must constantly adapt their strategies to stand out and engage with their target audience effectively. Additionally, e-marketers may face challenges related to cyber security, privacy concerns, and maintaining online reputations. It is crucial for e-marketers to stay updated on industry trends, consumer behavior, and technology advancements to overcome potential problems and thrive in the digital marketplace.
Avenues of using e-marketing at a global market place
There are various avenues for using e-marketing in a global market place, such as social media marketing, search engine optimization (SEO), content marketing, email marketing and online advertising. Social media marketing allows businesses to connect with a global audience, bill brand awareness, and engage with customers in real- time. SEO helps businesses improve their online visibility and rank higher in search engine results, increasing website traffic and conversions. Content marketing involves creating valuable and relevant content to attract and retain customers, position the brand as an authority, and drive engagement. Email marketing allows businesses to communicate with customers directly, personalize messages, and promote products and services. Online advertising involves paid digital promotions to reach a wider audience and drive traffic to the website. By utilizing these various avenues of e-marketing, businesses can effectively reach a global market and achieve their marketing goals.
Internet and how it affects the global marketing place.
The internet has had a profound impact on the global marketplace, transforming the way businesses operate, communicate, and reach their target audience. With the rise of e-commerce, businesses can sell products and services online, reach a wider audience, and expand globally without the need for physical stores. The internet has also disrupted traditional marketing channels, such as print and television, by providing businesses with cost-effective and targeted advertising options. Additionally, the internet has enabled real-time communication with customers through social media, email and online chats, allowing businesses to build relationships, gather feedback, and address customers concerns promptly. Overall, the internet has revolutionized the global marketplace, giving businesses new opportunities to connect with customers, drive growth and stay competitive in the digital age.