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Diploma in Business
Unit Number and Title
Unit 2 Marketing Mix Strategy
Today's business environment has become more competitive in term of marketing and trading of products. Therefore, organizations are focusing towards innovative strategies to attract customers. Internet marketing has emerged as an effective tool for marketers in which they can communicate with target market in better and cost effective manner (Bailey, 2011). The Marketing Mix Strategy herewith deals with different elements of marketing and its tools of E marketing. To achieve the outcomes of study the WM Morrison Company is taken into consideration. The organization is providing its products and services to its customers via online tools. Moreover, it includes a secondary market survey to support customer relationship management of organization for that Next PLC: UK's leading retail chain has been considered.
Internet marketing has enabled marketers to attract customers towards product and services in an attractive way (Christopher and Asha, 2007). Using effective tools of marketing the organization can achieve a platform to offer their products through digital channels.
Following points explain elements of internet marketing and their use in WM Morrison:
These all elements are the best ways for WM Morrison to attract market customers and promote the services via electronic media. The effective use of internet marketing tools will provide benefits such as convenience, delivery, cost effective, market communication, effective relationship etc. Internet marketing is less expensive in the place of having retail stores. WM Morrison deals in clothing, home products and luxury products as it has to distinguish its offering from other competitors (Coleman, 2010). While using internet marketing, business entity can provide 24/7 services to customers. It needs to develop web pages from where customers can avail information related to market. Further it has to develop attractive web page to gain attention of customers. It will also helpful in making effective relations with internal as well as external stakeholders.
Internet marketing mix consists of elements that are presented in online operation of organization. In order to offer effective services to the customers, the use of internet marketing mix is crucial. Internet marketing mix includes E-products, E-price, E-place, E-promotion, and E-process. Online shopping has become modern trend in the market in which customers prefer to buy product from online website. E-products define the colour, unique features as well as uses of product is provided on online sites (Dou, and et al., 2010). Further, E-price is an effective element of internet marketing mix. At the time of making online shopping the customers can compare the prices of products with other competitive products. These customers look for competitive prices. WM Morrison can attract customers towards the product while using elements such as E-products and E-price. Using these elements, it can provide better quality products at reasonable prices. Moreover, E-place is another element of internet marketing mix in which customers are provided with the choice to select the place where they want to have product delivery. Mostly in online shopping customers can get product at their own places. This element helps in providing customers convenience. Online marketers are responsible for distributing the right products at the right place and at right time. E-place element of internet marketing supports organization to offer product as per requirements of customers. E-promotion refers to use of internet tools to promote brands of the organization (Sheehan, 2010). Now days, business entities are focusing towards using online tools to attract the customers in which they are promoting the products and services while providing them with information related to products. As per E-promotion, WM Morrison need to develop websites from where customers can avail information related to services and products of organization. The corporate entity can send e-mails to the customers as in that they can include information related to services and products. It can be said as an effective way to gain attention of large customers. Further, the process of providing services and products to the customers is referred as E-process. The process of delivering the product to the customers is designed in a way to provide them with satisfaction. Hence, the use of internet-marketing mix elements will help organization in enhancing customer satisfaction as well business entity can generate more revenues and profits (Warschauer and Matuchniak, 2010).
In present competitive scenario, organizations are focusing towards use of different internet marketing tools. There are number of E-tools that are available of WM Morrison. All the tools have their district characteristics and uses in the organization (Westwood, 2013). They all provide various benefits to the entity. Various tools of internet marketing are explained in below points which their district uses:
Third Party Advertising:Third party advertising is the effective tools of internet marketing in which organization can provide information related to products and services via third party websites. The products of company can be offered via online shopping site. This is the effective tools to attract customers towards products and services. To use this tools WM Morrison needs to make contract with third party product. It is considered as a costly way to offer the product via internet as company has to share the profits with third parties (Soumava, 2001).
Social media tools:This is an effective and most famous tool of internet market. It is generally used to gain attention of customers and provide them with information related to products offered by company. Social media tools include: Facebook, twitter, LinkedIn as so on, using this tool the company can grab attention of large number of customers (Stewart and et.al. 2002). The Ads of products and discount offers are given at different social media sites.
Company Website: This tool is used by marketers to show their online presence. Development of own website is an effective tools of internet marketing. The website of company is developed in the way to provide information to the customers regarding product offerings. This is a cost effective and most famous tool of internet marketing that enables organization to earn huge profits. This is different from other tools in terms of delivery of products and information (Kiang, Raghu, and Shang, 2000). Using this tool customers can get accurate and sufficient information regarding deals and discount of provided by business entity. On the other hand product can be purchased direct from company.
Mobile marketing: This is an important e-tool in which the organization can offer its products and services via mobile application. Now a day, business entities are designing mobile application from which the customer can purchase the product and can make e payment. The innovative things of this tool are that consumer has to install the application in their respective smart phones. This is the most convenient way to provide services to the customers as they can avail services at any place (Mohammed and et. al., 2003).
The above tools have their unique features and functioning that provide benefits to WM Morrison but they all have a similar aim which is to provide customer satisfaction.
Each and every organization who deals in internet marketing is responsible for offering products through an interactive order processing system. The way of WM Morrison manages the orders taken from customer’s shows effectiveness of online operations. Interactive order processing system is considered as the best way to attract huge customers towards products. The ordering process starts from taking order from customers. The buyers of products are responsible to choose supplier from where they want to purchase the products. WM Morrison deals in retailing business and offers variety of products such as occasional cloths, food items, as well as electronic products and so on. The customers choose the category of products by selecting price range in which products are to be purchased (Newell, 2001). As soon as the potential customer click on the option the information related to product is displayed from database. The customer can be availed with information such as availability, price, material etc. After this customer places his / her order in which the information such as name, contact number, desired place of delivery is to be provided. Further, the mode of payment can also be chosen by buyer of product. As per the instructions of customers and after confirmation of order the supplier delivers the product to customer place. Further, the customer can track the status related to product delivery and shipping (Stewart and et.al. 2002). At last the confirmation is to be taken via mobile number as well as e-mail id. The information is stored in data base for further use.
Search Engine marketing is used to promote the brand and service of company. In order to conduct online operation markets use SEO tools which helps them in online promotion. At present, there are number of search engines in the market that are used to increase visibility of specific websites on the internet browser. The use of SEO tools enables company to design the website. In addition to that it includes coding, writing and programming of web page. The major idea for generating search engine marketing is to make online marketing easier. In other words, it is considered as the process of purchasing traffic through paid search listing. While using SEO tools WM Morrison can increase the productivity of business simultaneously can also make good reputation in the market (Newell, 2001). This tool provides higher ranking to the organization through getting higher pay per click. Google is well known search engine, which is mostly used by internet users. This the best way from which WM Morrison can identity their online performance on search engine bars and can develop market image. In respect with present organization, combination of SEO and pay per click can be defined as search engine marketing. In addition to that is cost effective way to create brand and ensure global presence. The organization has to invest high amount in search engine marketing management. The best mechanism of search engine marketing for WM Morrison is pay per click advertising. This is used to connect the advertising with web pages so that customers can avail information what they want.
WM Morrison uses various search engines, and the screenshots for the result pages of Google, Bing and Yahoo are as follows,
Screenshot for Google
Search for bing
Search for Yahoo
E-mail marketing is an effective tool that enables organization to make effective communications with customer. Using this tool WM Morrison can provide information related to product and new offers (such as discounts) direct to its existing and potential customers. This tool can be used by WM Morrison to send commercial messages to the customer to their mail boxes. These kinds of mails include the data relating sales, discounts, donation for events and programs etc. The main aim behind such e-mail newsletter is to convey the information of organization's current plans. In the way to develop a effective e-mail marketing newsletter WM Morrison requires to create advertisements on different web pages (Hubspot, 2000). The company has to create a plan for e-mail marketing and needs to develop objectives. Further, it has to select the target market for the products. The important step is to select the best promotional tag line so that customer can be attracted towards it. It is useful in promoting the message more effectively. Development of effective newsletter requires creativity. Finally the newsletter is sent to existing and potential users.
In today's competitive scenario organizations are focusing on promoting brand rather than influencing customers to purchase the products. WM Morrison needs to conduct best practices related to online public relation. Better and effective public relations will enable company to create positive brand image. In this regard, organization can use effective tools of online marketing. The customer looks for the information related to products and services that can help them in making purchase decision making. On is using e-mail, social media marketing, websites to attract customers towards the products and services. There are important PR techniques used by the organization to attract the customers and make effective public relations. Furthermore the organization can use different channels to create public relations such as blogs, social media accounts, company pages, LinkedIn, Facebook etc. These all channels are considered as the best tools to develop better and effectual public relations. Using these tools marketers are providing information related to services of company so that customers can be attracted (Sheehan, 2010). These tools help in providing convenience to the customers. In addition to that, the organization is making effective relation with customers by using internet marketing tools. There are number of sites available to the marketers on which business provides effective information. Segmentation is the best way which markets can adopt so that needs and wants of diverse customers can be identified so that they can be fulfilled. From that segment it has to select the target market as per their needs and wants. In this way by fulfilling the needs to customers the organization can make effective public relation (Kiang, Raghu, and Shang, 2000). Further, the online transaction process of company has to be smooth.
In order to create an effective brand image in the market organization uses digital media techniques. In also helps business entity to district there offering from other competitors and supports in attracting customers towards product and services. Further, it creates the online operations and transactions easier and understandable. As soon as the product is chosen by the customers, the company adds that specific product in Cart and the information provided by customer related to delivery of product is gathered by organization. After conducting all necessary processing the product is automatically delivered to the customers (Newell, 2001). It this way the use of digital media enables WM Morrison to make effective communication with market customers. In addition to that the order details and location of product can be tracked by the customers. The organization sends mail to the customer on their mail id to confirm the order process and delivery. In this way it can be said that online media marketing is playing effective role in increasing productivity and smooth online operations of business entity. Further, it helps in earning huge revenues.
The communities of digital media are becoming so significant for WM Morrison as it is allowing the public for reading as well as getting an impression of WM Morrison with the help of experiences from other individual’s as well as viewpoint. Potential customers that are accessing digital media can be easily impacted by the feedbacks as well as posts of other available customers. Digital Media is having the beneficial aspect that will be allowing WM Morrison to develop but simultaneously the disadvantage of possible unexpected negative feedback of the customers to its services as well as products.
WM Morrison is using digital media with the help of Facebook, Twitter, the screenshot of this are,
Screenshot for Facebook:
WM Morrison is the leading supermarket chain based in UK. The organization provides best quality and variety of products to its customers. The organization is focused towards best services and products to the buyers so that their needs and wants can be satisfied. For this it is important to identity the needs and wants of market customers in order to serve this purpose. After that, WM Morrison has to conduct and online survey so that requirement along with needs and wants of customer can be identified. Market research is important for organization to collect data related to customers and their respective needs. As per the words of Bailey (2011) internet marketing plays an important role in influencing customers and their purchasing decisions. In today scenario, a large number of customers are involved in online operations and they are focusing towards the online operations of business entity. According to Newell (2001) it has been relieved that net surfing habits of customers can present various opportunities for business entities to make distinct online operations. The website of organization is to be created in an innovative way so that attention of customers can be garbed. Business entities need to create ads to promote the products in market. Further, it has been said that, use of internet promotions strategies enable organization to gain attention for large number of customers while making huge profits. Further Soumava (2001) has said that using online marketing tools business entity can gain competitive advantages. Further, it offers number of ways to advertise the products and services. It can also design adequate advertisement through combination of various effects. For many companies, the purpose of using effective internet marketing tool is to attract customers while providing them with shopping convenience.
Q.1. How much time you spent daily in net surfing?
Q.2. Choose the website which you prefer the most?
Q.3. Do you check the advertisements on the websites made by WM Morrison on daily basis?
Q.4. Is your purchase decision supported by advertisements displayed on websites?
Q.5 Is WM Morrison is able to meet your needs and wants?
Q.6 How often do you use product of WM Morrison?
Q.7 How important is convenience when conducting shopping online?
Q.8. How much you are satisfied with the services or product offered by WM Morrison?
Q.9. What kind of problems you have faced during online shopping?
Q.10 Kindly provide the recommendation for WM Morrison that advertising offerings through internet?
Electronic customer relationship is very significant for the Next Plc in its business for the purpose of marketing their clothing products. With the help of Electronic customer relationship Next Plc. directly interact with their customers by using the electronic form of communication. It is used by the company in managing the database of their customers. Through this database, management can directly make their relationship with customers by sending e-mails, catalogues and brochures. In addition to this by using the other electronic means of communication such as phone calls and text messages are also used (Newell, 2001). Next Plc communicates with their customers about the latest offers, discounts and promotional schemes. Electronic customer relationship is also used to access the instant reviews and feedbacks form the customers of the company (Powell, 2013). Many of the organizations which are using the internet as source of marketing also have enables the option of live chat and query windows for their customers. With the help of these options they directly communicate with the customers to solve any issues, queries or problems faced by them. Using of Electronic customer relationship helps the business to make the customers aware about the recent trends, new products and demands of the customers in market (Zubareva, 2010).
Customer Relationship Marketing is the method to collect information by a business in respect of their consumers for examining the data of the activity for the customers regarding purchases, demographic as well as pychographic aspects.
ECRM is considered to be the same method but it is applied online. The 5s of e-marketing are regarded as the beneficial aspects and can be used for setting the goals for WM Morrison.
There are also security issues that are related with the ECRM that WM Morrison deploys since open networks at times lead to data theft from the organisational system in addition with significant financial details in regard to the customers. Moreover, WM Morrison is required to connect with the permission marketing which is gaining entry to the information of the customers by their consent as well as customer should be having the right of sharing their individual knowledge with specific company. Transaction security as well as information security rules that are created in UK in relation to the Data Protection Act of UK should be adopted by WM Morrison so that there is the existence of no negative implication in respect of the company in the future.
By using key performance indicators and SWOT analysis methods, marketing managers of Next PLC can easily identifies its strengths and weakness in a proper manner. Apart from this, by using this method, enterprise would be able to examine external opportunities and threats (Jones, 2008).
The above report herewith deals with the tools and elements of internet marketing. Further, the use of internet marketing tools has enabled business entities to gain competitive advantage in the market. It can be concluded that internet marketing tools enable organization to create competitive advantages.
Books and journal
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