The advent of New Media and the Internet have increased the possibilities of online marketing and Internet retailing with new interactive shopping features, podcasts and e-marketing. Consumers are connected to online shopping sites with WiFi, the Internet, or 3G mobile phones. E-commerce has taken on a new dimension in retail with an increasing number of people shopping online and even booking flights online (Papers4you.com, 2006). An example of this is the traffic on the British Airways website. A comparative analysis of popular travel-related websites and online ticketing facilities provides us with insights into transaction costs and individual and company perceptions of e-commerce ticketing facilities and online ticketing facilities. trips.
However, Internet marketing faces great challenges in keeping up with consumer demands and developing relationship marketing to maintain consumer loyalty (Enzmann & Schneider, 2005). The advantages and disadvantages of Internet retailing could be studied in contrast to traditional marketing by considering issues related to online branding, consumer loyalty, spam, and advertising strategies. Online marketing challenges could be studied with the same models used for general marketing management, such as the 4P or 7P models, and trends in Internet marketing and transactions can also be studied (Papers4you.com, 2006 ). Online pricing remains one of the main challenges, as does the possibility of virtual interactions with customers instead of face-to-face interactions in a traditional marketplace. Security and privacy issues are important in electronic marketing and purchases through secure sites are one of the main concerns of consumers (Enzmann and Schneider, 2005). Direct email marketing of goods and services has given rise to debates about spam and the need for strict legislation on email marketing.
Online marketing seems to have completely revolutionized marketing techniques, although it has limitations of use, privacy and security problems. Different traditional and non-traditional advertising media, such as newspapers, television, magazines, newsletters, direct mail, telephone, and the Internet, may need to be compared more thoroughly to understand whether online marketing will completely replace traditional marketing in the future.
In addition to the ease and convenience of Internet marketing, one of the main advantages of Internet marketing is the customization of products and services to meet the needs and tastes of individual customers (Ho, 2006). Tailored products or services may not have been a very broad option in traditional shopping, which shows that interactive shopping has come one step closer to consumer needs and has improved the overall shopping experience. Online branding has popularized local consumer goods in global markets (Ibeh et al, 2005). The concept of relationship marketing is an important strategy for new media and is an important tool within the contemporary marketing environment in all spheres of business, from financial services to electronics. Online marketing has been used by banks, supermarkets and charities such as Oxfam, suggesting the rapid change in marketing methods used by a wide variety of organizations and showing the wide acceptability of online retail and marketing in changing business environments.
Bibliography
Ching HL; Ellis P. (2004) Marketing in Cyberspace: What Factors Drive E-Commerce Adoption? Journal of Marketing Management, Volume 20, Numbers 3-4, pp. 409-429(21)
Enzmann, Matthias; Schneider, Markus (2005) Improving customer retention in e-commerce through a secure and privacy-enhanced loyalty system Information Systems Frontiers, Volume 7, Issues 4-5, pp. 359-370(12)
Ho, Shuk Ying (2006) The Attraction of Internet Personalization for Web User E-Marketplaces, Volume 16, Issue 1, Issue 1, pp. 41-50(10)
Ibeh, Kevin IN; Luo, Yin; Dinnie, Keith (2005) E-Branding Strategies of Internet Companies: Some Preliminary Insights from the UK The Journal of Brand Management, Volume 12, Number 5, pp. 355-373(19)
Papers For You (2006) “P/M/445. Internet Marketing: Issues and Prospects”, available at http://www.coursework4you.co.uk/sprtmrk8.htm [17/06/2006]
Papers For You (2006) “P/M/434. E-marketing vs. traditional marketing: pros and cons”, available at http://www.coursework4you.co.uk/sprtmrk8.htm [18/06/2006]
