Internet Marketing Fundamentals
Module One: Getting Started The internet has forever changed the way the people shop and conduct business. Even experienced marketing professionals need help navigating the pitfalls of internet marketing. Integrating the marketing techniques with modern technology is essential for every business.
Don’t be afraid to get creative and experiment with your marketing. Mike Volpe
Workshop Objectives
Market research
Target market
Understand your brand
Find and capture leads
Module Two: SWOT Analysis in Marketing Successful internet marketing requires an internal and external analysis. Tools such as a SWOT analysis will determine the strengths, weaknesses, and opportunities, and threats that different organizations face.
Success always comes when preparation meets opportunity. Henry Hartman
Strength
Advantages
What is done well
Internal
Customer’s point of view
Weaknesses
Internal Does it does poorly Poor customer service Can be converted
Opportunities
Outside influences Market changes Prepare for them
Threats Outside factors Can come from competitors Transform into an opportunity
Case Study The CEO of MyBrand was constantly getting complaints about poor customer service Customers always complimented the quality of the clothing Customer service did not cause sales to slip, so he did nothing
After three months, sales slipped 20%
Module Two: Review Questions 1.A low price point is an example of a ____. a)Weakness b)Strength c)Opportunity d)Threat 2.Which of the following will provide useful information about strengths for a SWOT analysis? a)Weather b)Taxes c) Technology d)Market research
Module Two: Review Questions 3.A poor customer service survey indicates a _______ a)Strength b)Opportunity c) Weakness d)Threat 4.A weakness is _____. a)Internal b)Lasting c) External d)To be expected
Module Two: Review Questions 5.What is an opportunity? a)Taxes b)Competition c) Weak market d)Improved technology 6.What must be monitored to find opportunities? a)Future of the market b)Competitor sales c) Customer complaints d)Weather
Module Two: Review Questions 7.What is an example of a threat? a)A strong market b)Increased taxes c) Improved products d)Company growth 8.What involves influences outside the organization? a)Strengths and weaknesses b)Weaknesses c) Threats and opportunities d)None of the above
Module Two: Review Questions 9.How much did the sales slip? a)10% b)20% c) 30% d)40% 10.What did the CEO ignore with the complaints? a)Opportunity b)Threat c) Strength d)Weakness
Module Two: Review Questions 1.A low price point is an example of a ____. a)Weakness b)Strength c)Opportunity d)Threat Strength is anything that the company does well in the eye of the customer. A low price point is considered a strength. 2.Which of the following will provide useful information about strengths for a SWOT analysis? a)Weather b)Taxes c) Technology d)Market research Market research provides information that can be used to create a SWOT analysis. The other answers are examples of opportunities and threats.
Module Two: Review Questions 3.A poor customer service survey indicates a _______ a)Strength b)Opportunity c) Weakness d)Threat
A weakness is something that the company does not do well. Poor customer service is an example of a weakness. 4.A weakness is _____. a)Internal b)Lasting c) External d)To be expected Both strengths and weaknesses are internal to the company. Weaknesses can be converted to strengths.
Module Two: Review Questions 5.What is an opportunity? a)Taxes b)Competition c) Weak market d)Improved technology
An opportunity is an outside influence that the company can take advantage of. Using new technology is an opportunity. 6.What must be monitored to find opportunities? a)Future of the market b)Competitor sales c) Customer complaints d)Weather
It is important to take advantage of opportunities as they appear. This requires careful monitoring of the future of the market and market trends.
Module Two: Review Questions 7. What is an example of a threat? a)A strong market b)Increased taxes c) Improved products d)Company growth A threat is any outside influence that negatively affects the company. Increased taxes are a threat.
8. What involves influences outside the organization? a)Strengths and weaknesses b)Weaknesses c) Threats and opportunities d)None of the above Threats and opportunities come from outside the company. Strengths and weaknesses are found inside the organization.
Module Two: Review Questions 9.How much did the sales slip? a)10% b)20% c) 30% d)40% The sales slipped after the competition opened, they fell a total of 20%.
10.What did the CEO ignore with the complaints? a)Opportunity b)Threat c) Strength d)Weakness The CEO ignored complaints of poor service. This is a weakness that he failed to transform into a strength.
Module Three: Marketing Research Marketing research is essential to a successful marketing campaign. This information needs to be done on two levels. Primary information is the research that you do for yourself or have an employee do. Secondary information is provided by government agencies and other organizations that offer market information.
Advertising people who ignore research are as dangerous as generals who ignore enemy signals. David Ogilvy
Consume All Media Surveys Focus groups Interviews Observation Trials
Find the Right Price
Ceiling and floor Quantity ROI Determines purchase
Product Development and Improvement Generate Ideas Develop Features Develop the Product Test the Product
Identify Your Target Audience
Age
Gender
Income
Educatio n
Location
Case Study The local company, Media Inc. saw a shift in the popularity of their products Action movies and romantic comedies were their mainstays the previous year Now, children’s and family movies made up the bulk of their rentals She learned that the middle class in the town was growing
Module Three: Review Questions 1.Choose the source of primary information. a)Market reports b)Survey c)Competitor statistics d)Market researchers 2.Choose the source of secondary information. a)Trials b)Focus group c) Interviews d)Media coverage
Module Three: Review Questions 3.Why is highest amount you can charge? a)Price floor b)Top tier c) Price ceiling d)ROI 4.What is the lowest amount you can charge? a)Price floor b)Top tier c) Price ceiling d)ROI
Module Three: Review Questions 5.What do you do with the ideas generated? a)Develop product b)Test product c) Create feedback d)Develop features 6.What is the final stage to product development? a)Develop product b)Test product c) Create feedback d)Develop features
Module Three: Review Questions 7.Which is not a criterion you would least likely use to identify the target audience? a)Diet b)Age c) Education d)Income 8.What do you research to meet the needs of your target audience in product development after the target is identified? a)Location b)Age c) Expectations d)Income
Module Three: Review Questions 9.What percentage sales did the children’s and family movies make? a)65% b)72% c)20% d)45%
11.What percentage of sales did action movies and romantic comedies drop? a)65% b)72% c)20% d)45%
Module Three: Review Questions 1.Choose the source of primary information. a)Market reports b)Survey c)Competitor statistics d)Market researchers Primary sources are sources of information that you find yourself. A survey is a primary source if you conduct it yourself. 2.Choose the source of secondary information. a)Trials b)Focus group c) Interviews d)Media coverage Secondary sources of information are available to you. Media coverage is a secondary source; the other answers are primary sources.
Module Three: Review Questions 3.Why is highest amount you can charge? a)Price floor b)Top tier c) Price ceiling d)ROI Government regulations can limit the amount that may be charged for a product. The highest amount you may charge is called the price ceiling. 4.What is the lowest amount you can charge? a)Price floor b)Top tier c) Price ceiling d)ROI Government regulation can create a price floor. This is the lowest price that can be charged for a product. It may result in an excess of merchandise.
Module Three: Review Questions 5. What do you do with the ideas generated? a)Develop product b)Test product c) Create feedback d)Develop features The first stage of product development is to generate ideas. These are used to develop features for the product.
6. What is the final stage to product development? a)Develop product b)Test product c) Create feedback d)Develop features All of the answers besides C are stages of product development. The final stage is to test the product developed.
Module Three: Review Questions 7.Which is not a criterion you would least likely use to identify the target audience? a)Diet b)Age c) Education d)Income
It is important to gather as much information as you can to understand your target audience. A customer’s diet is not likely to be available while the other answer is. 8.What do you research to meet the needs of your target audience in product development after the target is identified? a)Location b)Age c) Expectations d)Income
Once you identify your target, you need to identify their expectations. Use this research to guide the product development.
Module Three: Review Questions 9. What percentage sales did the children’s and family movies make? a)65% b)72% c)20% d)45%
Children’s and family movies became the top sellers. They accounted for 72% of sales.
11.What percentage of sales did action movies and romantic comedies drop? a)65% b)72% c)20% d)45%
Action and romantic comedies once made up 65% of the sales but dropped to 20%. This is a 45% drop.