Internet Marketing Project
1. Project Overview
The Internet is fundamentally changing the way people around the world consume, produce, communicate and play. The Internet leads to new ways of thinking about time and distance. It creates new markets and it opens up new distribution channels. It expands opportunities for product innovation and branding. It establishes new rules for pricing and promotion. While it is clear that the Internet will not entirely replace offline marketing activities, it is equally clear that the interactivity and individuality afforded by the Internet allows marketers to create marketing synergies and rethink their business strategy in perspective to this powerful electronic tool.
The major written project in MK 3104 L6 will challenge each student in analyzing the environment that a specific business is operating in, assessing its internet presence in terms of differentiation, customer segments served and value creation through the online strategy and execution and in developing a company strategic plan for internet and new media presence.
In order to meet Learning Outcomes students need to organize themselves in groups of 2-3 people. Each group will select a particular small or medium business, which is addressing consumers with both online and offline options.
The group of students will be responsible for select the business, and researching the environment and “competition”.
Each student should fully analyze one other business among those that are considered to be competitors and provide his/her analysis to the other group members. Students will discuss in group the proposed strategy in terms of target group and main vehicles (website, social media, other digital vehicles) to be used in the online marketing strategy.
Each student will submit an individual project with the analysis of the group’s findings and recommended PERSONAL strategy for establishing a competitive advantage, covering the points analyzed later in this document.
In this way students will
(a) share some of the background work required in order to develop the basis of the strategy
(b) will share ideas and create value , while building teamwork skills
(c) will present their individual understanding and implementation ideas as the final individual project
2. Learning Outcomes
Successful completion of this project will contribute to the student’s proficiency in the following learning outcomes:
1. Demonstrate the use of techniques for efficient customer metrics.
2. Define the elements that contribute to effective web site content and describe the issues involved in designing, maintaining, and monitoring the site; including privacy, security and ethical issues involved in the use of information technology.
3. Build teamwork skills through the development of online brand strategies and a marketing plan for establishing a competitive advantage.
3. Project Requirements and Assessment
The project will be assessed on the basis of the following requirements and criteria:
Content and understanding of theory
Originality in implementation of theory
Organization and Mechanics
The Assessment Rubric is at the end of this document.
3.1 Contents & Understanding
The following content is suggested for the project – you may use you own good judgment to enhance this content.
In writing your project report you need to answer the following questions:
1. According to Straus et al there are four levels of commitment to e-business :
Activity Level E-Business Models
Business Process Level E-Business Models
Enterprise Level E-Business Models
What level of commitment does the business currently have ?
What are the characteristics of the target group ? Are there differences between the online and offline customers ?
2. In what ways does the online presence create a competitive advantage for the business ? How is this communicated through the website ? [10 points]
3.Site’s drawbacks: What do you think could be done to improve the customers’ sense of value and satisfaction from the site? What do you see the value/relevance of new media to be in relation to the specific marketing strategy
As part of evaluating the site, consider the following:
1. alexa.com metrics / other relevant metrics. Critically evaluate the use of metrics based on theory and your own observation on how the metrics are representative of the success of the specific site.
2. Site’s competition
3.2 Originality in implementation of theory
1. Critically evaluate the use of metrics based on theory (with reference to articles in academic and other journals) the use of metrics in terms of quantitative and qualitative parameters and your own observation on how the metrics are representative of the success of the specific site.
2. Critically evaluate the alternative promotional techniques the business can use to promote the website [such as CEO, CEM, commercial programs offered by Facebook , Google or others] IN TERMS OF BRINGING INCREMENTAL SALES including reference to articles in academic and other journals
3. The final outcome should be a Future Online Marketing Strategy Recommendation – simple, actionable and well justified advice on your chosen business future online marketing strategy. This should include your recommendation on whether the business should change its level of commitment to e business and specific actions you would take in terms of promotional techniques. [20 points]