Also, a significant benefit of cyber marketing is that it enables you to win profitable customers. Therefore, the process of micro segmentation can be extended to its logical limit of mass customisation of marketing.
The fact that customers can compare much larger range of offers and their prices has suggested that cyber marketing exerts downward pressure on prices in the marketplace.
In such researches respondents qualifying on a host of parameters can be reached with relative ease. Alternatively, marketer can bring together a new community bound by some common parameter of their interest or characteristic.
These data can be then processed with the help of data mining and marketing decision tools. Marketers can focus only on their best prospects with the knowledge that customer profiling have been achieved through more reliable means.
In order to understand these points of differences Cyber marketing we shall now look at the individual areas of cyber marketing.
Better commercial business can be expected to result from these new kinds of marketer-customer linkages. Cyber marketing term became popular when computers started getting used in marketing extensively.
The increase in bandwidths and speed of internet connectivity are like converting country roads into expressways. The richness of information on internet has also made customers perceive it as a more serious and informative channel of communication. As a result, the respondents can be asked fewer but more relevant questions making the task of data collection easier and more efficient.
The speed of transaction can also be much more as a lot of customer related information may already retrievable with the marketer and need not be repeated every time the customer wishes to transact.
Besides pure infomediaries, the existing distributors do also rebundle their services after integrating the online and offline elements of their services.
Advertising generates a hierarchy of impacts like creation of awareness, interest, desire and action on the consumer. By doing this, they help the count of internet sites to grow exponentially.
The customers can identify the optimum provider for his unique sets of needs. Following general model tends to emerge from cyber marketing: The online nature of such data make them inexpensive, timely, transcription errors free, authentic and unobtrusive.
Marketers can also bring in the product optimisation tools which can simultaneously look at the customers needs and the marketers objectives and achieve them.
This feature of internet provides a unique facility of interaction among a large number of customers themselves also through bulletin boards or chat facilities. These communities can now be utilised as target market segments which are more strongly linked with the marketers.
The body of knowledge developed through the experiences and their theorization by marketers and the academicians are quite valuable. His attention is solely directed to this medium and is more committed to its contents as he has reached to the particular screen through a process of conscious search and choice.
As a result, it is possible to better transport the customer from one level of impact to the next higher one and do so more quickly. The customer segments created with such methodologies can have the advantage of being more dynamic because they can be created through online databasesmore insightful because of the use of more powerful clustering and association seeking techniques and customers themselves selecting into a segment.
For example, some ethnic community may be already existing in India but may be difficult to access by marketers due to their geographical dispersal or lack of well directed media to reach such communities.
It allows the marketer to customise and focus even on individual customers in a mass market. The segmentation process in cyber marketing can be extended to real micro segmentation and even to the segments of single customers each. His attention is solely directed to this medium and is more committed to its contents as he has reached to the particular screen through a process of conscious search and choice.
The number of sampling parameters can often be much larger than what is possible through conventional modes of data collection. Different media are found to be better suited for certain kinds of impacts out of this hierarchy.
Financial products, softwares, books, audio and video products are examples of products which are already available in digitised forms or are very easily amenable to be converted into. The increase in bandwidths and speed of internet connectivity are like converting country roads into expressways.
The saving in costs due to these effects are often considered as the most important contributions of cyber marketing. Cyber marketing term became popular when computers started getting used in marketing extensively.
Better commercial business can be expected to result from these new kinds of marketer-customer linkages. In fact, the recent growth in the area of customer relationship management within marketing has been possible mainly due to the availability of these cyber marketing tools.
Internet also enables online distribution of digitised products. The Cyber Group of Company has shown tremendous growth since Looking back on four decades of hard work and hard – earned success, it is clear that the Cyber Group of Company satisfaction does not lie on cold facts and financial statistics.
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