E-Marketing Chapter 3
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Questions and Answers

What is one of the main objectives of an e-marketing strategy?

  • Increase sales revenue (correct)
  • Reduce employee salaries
  • Achieve financial goals
  • Improve supply chain management

    • Which of the following is an example of a pricing strategy in e-marketing?

  • Agent e-business models
  • Marketing communication strategies
  • Direct marketing
  • Dynamic pricing (correct)

    • What is the purpose of using CRM or PRM software in e-marketing?

  • To achieve branding goals
  • To reduce costs
  • To improve supply chain management
  • To integrate customer communication and purchase behavior into a database (correct)

    • What is an example of a product strategy in e-marketing?

    <p>Advertising on a website</p> Signup and view all the answers

    Which tier of e-marketing strategies includes strategies related to the 4 P's and relationship management?

    <p>Tier 2</p> Signup and view all the answers

    What is the purpose of distribution strategies in e-marketing?

    <p>To distribute products or services to customers</p> Signup and view all the answers

    What is the primary goal of Step 2 in the E-Marketing Plan?

    <p>Segmentation and Targeting</p> Signup and view all the answers

    What is the focus of Tier 1 Tasks in Step 2?

    <p>Segmentation, targeting, and positioning</p> Signup and view all the answers

    What is the primary purpose of an e-marketing plan?

    <p>To create a blueprint for e-marketing strategy formulation and implementation</p> Signup and view all the answers

    What is included in the marketing mix (4 Ps) tactics?

    <p>Product, price, promotion, and place</p> Signup and view all the answers

    What is the purpose of Step 5 in the E-Marketing Plan?

    <p>Implementing the marketing plan</p> Signup and view all the answers

    What is Twitter's current ranking in U.S. Web traffic?

    <p>11th</p> Signup and view all the answers

    How much venture capital has Twitter reportedly raised?

    <p>$57</p> Signup and view all the answers

    What is an example of information-gathering tactics?

    <p>Using website forms and cookies</p> Signup and view all the answers

    What is the main objective of an e-marketing objective?

    <p>To show the form of an e-marketing objective</p> Signup and view all the answers

    What is the focus of Step 3 in the E-Marketing Plan?

    <p>Defining marketing objectives</p> Signup and view all the answers

    What is included in Tier 2 Tasks in Step 4?

    <p>Offer, value, communication, and distribution</p> Signup and view all the answers

    What is the purpose of the objective-strategy matrix?

    <p>To explain the use of an objective</p> Signup and view all the answers

    What is the main goal of the budgeting step in the e-marketing planning process?

    <p>To identify key revenues and costs</p> Signup and view all the answers

    What is the role of tactics in the E-Marketing Plan?

    <p>To achieve plan objectives</p> Signup and view all the answers

    What happened at the South by Southwest festival in 2007 that contributed to Twitter's success?

    <p>Attendees sent text messages on 60-inch TV screens</p> Signup and view all the answers

    What is the primary link between a firm's e-business strategy and technology-driven marketing strategies?

    <p>E-marketing plan</p> Signup and view all the answers

    What is the e-marketing objective mentioned in the text?

    <p>$500,000 in revenues from e-commerce in one year</p> Signup and view all the answers

    Why is the pending security law considered a threat?

    <p>It requires costly software upgrades</p> Signup and view all the answers

    What is a strength mentioned in the SWOT analysis?

    <p>Strong customer service</p> Signup and view all the answers

    What is the purpose of market opportunity analysis (MOA)?

    <p>To identify market opportunities</p> Signup and view all the answers

    What is an objective in an e-marketing plan?

    <p>A task to be accomplished with measurable quantity and time frame</p> Signup and view all the answers

    What is a potential opportunity mentioned in the SWOT analysis?

    <p>Growing Hispanic markets</p> Signup and view all the answers

    What is a weakness mentioned in the SWOT analysis?

    <p>Low-tech corporate culture</p> Signup and view all the answers

    What is a Tier 1 task or strategy?

    <p>Market and product strategy</p> Signup and view all the answers

    What is the main purpose of identifying expected returns from marketing investments?

    <p>To develop a cost/benefit analysis</p> Signup and view all the answers

    What is one of the intangible benefits of e-marketing?

    <p>Brand equity</p> Signup and view all the answers

    What is the purpose of having tracking systems in place for e-marketers?

    <p>To measure the success of a marketing plan</p> Signup and view all the answers

    Why is it important for e-marketers to show how intangible goals will lead to higher revenue?

    <p>To justify expenditures</p> Signup and view all the answers

    What is the main reason why today's firms are ROI driven?

    <p>To justify expenditures</p> Signup and view all the answers

    What is the purpose of a cost/benefit analysis in marketing?

    <p>To identify the expected returns from marketing investments</p> Signup and view all the answers

    What is one of the metrics that relate to specific plan goals?

    <p>ROMI</p> Signup and view all the answers

    What is the purpose of continuous evaluation in e-marketing?

    <p>To measure the success of a marketing plan</p> Signup and view all the answers

    Study Notes

    E-Marketing Objectives

    • Discuss the nature and importance of an e-marketing plan
    • Outline the 7 steps of an e-marketing plan
    • Explain the form of an e-marketing objective and the use of an objective-strategy matrix
    • Describe the tasks that marketers complete in tiers 1 and 2 as they create e-marketing strategies
    • List key revenues and costs identified during the budgeting step of the planning process

    The Twitter Story

    • Twitter started as a concept in a brainstorming meeting in 2006
    • It became the 11th in U.S. Web traffic and the 3rd most popular social network
    • Twitter took off after attendees sent text messages on 60-inch TV screens at the South by Southwest festival in 2007
    • Twitter has reportedly raised $57 in venture capital

    The E-Marketing Planning Process

    • The e-marketing plan is a blueprint for e-marketing strategy formulation and implementation
    • It links the firm's e-business strategy with technology-driven marketing strategies
    • The plan serves as a roadmap to guide the firm, allocate resources, and make decisions

    E-Marketing Plan

    • The plan consists of 7 steps: situation analysis, strategic planning, objectives, strategies, implementation, budgeting, and evaluation

    SWOT Analysis

    • Strengths: strong customer service, excellent Web site and database system
    • Weaknesses: low-tech corporate culture, seasonal business (peak is summer months)
    • Opportunities: Hispanic markets growing and untapped, save postage costs through e-mail marketing
    • Threats: pending security law means costly software upgrades, competitor X is aggressively using e-commerce

    E-Marketing Objective

    • An e-marketing objective may include the following aspects: task, measurable quantity, and time frame
    • Examples of objectives: increase market share, increase the number of comments on a blog, increase sales revenue, reduce costs, achieve branding goals, increase database size, achieve customer relationship management goals, improve supply chain management

    Tier 1 and Tier 2 Strategies

    • Tier 1 tasks: market and product strategies, including segmentation, targeting, differentiation, and positioning
    • Tier 2 tasks: strategies related to the 4 P's and relationship management to achieve plan objectives, including product, pricing, distribution, and marketing communication strategies

    Steps 2, 3, and 4 of the E-Marketing Plan

    • Step 2: strategic planning, including market and product strategies
    • Step 3: objectives, including task, measurable quantity, and time frame
    • Step 4: strategies, including Tier 1 and Tier 2 tasks

    Step 5: Implementation Plan

    • Tactics are used to achieve plan objectives
    • Examples of tactics: marketing mix (4 Ps) tactics, relationship management tactics, marketing organization tactics, information-gathering tactics

    Step 6: Budget

    • The plan must identify the expected returns from marketing investments
    • Examples of budget-related metrics: cost/benefit analysis, ROI calculation, internal rate of return (IRR) calculation, return on marketing investment (ROMI)

    Revenues and Costs

    • Revenue forecast
    • Intangible benefits, such as brand equity
    • Cost savings
    • E-Marketing costs, including technology, site design, salaries, and other site development expenses, marketing communication, and miscellaneous

    Step 7: Evaluation Plan

    • Marketing plan success depends on continuous evaluation
    • E-marketers must have tracking systems in place to measure results
    • Various metrics relate to specific plan goals
    • Today's firms are ROI driven
    • E-marketers must show how intangible goals will lead to higher revenue
    • Accurate and timely metrics can help justify expenditures

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    Description

    This quiz covers the objectives and key concepts of Chapter 3 in E-Marketing, including the importance of an e-marketing plan, its 7 steps, and creating e-marketing strategies. It also discusses the roles of marketers in tiers 1 and 2.

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