Product Management in IT Companies
In the IT (Information Technology) industry, it is often the case that the organizations find it difficult to synthesize and integrate all the functions associated with developing and launching products to the market. For instance, it is common for the CFO to say that Marketing department is spending excessively, the Technology department saying that they […]
An Overview of Relationship Management and Why it is Important for Corporates
Introduction: Why is Relationship Management Important? If you are working and have a bank account, chances are that you would have heard of the term Relationship Manager who is tasked with the responsibility of attending to your banking needs as well as proactive account management. Further, if you are working for a corporate and are […]
Modern Retail Store Design – A Perspective
When you think of any Retail Store, instantly you recall the layout and your experience connected with the store. We tend to build our likes and dislikes around the Store environment and ambience and our loyalty to any one store may be influenced by our perceptions of that particular store environment. Store Design and Layout […]
Post Product Launch
Successful product launch does not end with merely introducing the new product in the market and then forgetting about it. Some organizations tend to adopt a casual attitude once their product is in the market and trust me; this is one of the biggest blunders to commit. Post product launch is often the most underestimated […]
Measuring Customer Response
After emphasizing on customer response and its advantages it is also important to know how to measure these responses and what can be achieved after accurate measurement. For this it is necessary for an organization to incorporate following performance indicators: Productive Performance Indicator- The productive performance indicator determines the number of customer orders processed per […]
An organization is often influenced by the environment they work under. There are several factors which influence such as customers, suppliers etc of the micro environment can be controlled to a certain extent by the organization. The nature of micro environment is very much dependent upon macro environmental factors. The macro environment consists of society, government, rules, and tax, politics, technology, economics etc.
The macro environment will influence all the players operating in the market. Therefore, it does not imply that the organization should not be bothered with changes happening in the macro environment. Organizations need to constantly monitor changes happening in political and regulatory environment and make changes accordingly.
Organizations which adapt to the changes happening in the macro environment can showcase this as a differentiation and have a competitive advantage.
Though the advent of the internet is a universal phenomenon, but the usage pattern is not the same. The level of the internet access and usage directly influence buying behavior of the consumer. The social perception of the internet directly influences its use. The typical perception of the internet can be classified as no perceived advantage, little or no trust in the internet, security risk, cost of usage and utility.
The group of population around above classification are the ones who are not utilizing the internet, thus organization needs to factor them in demand analysis.
The social impact of the internet cannot be undermined. It has greatly influenced our way of life and has brought many differences to the fore-front. The population with income and a certain degree of education is able to use the internet much easily compared to population with costly service or slower access.
Developed countries are promoting the use of the internet and making efforts through social programs. Even people with special needs are able to use the internet to their advantage.
There are certain types of behaviors which are tolerated and accepted by the society around the use of the internet. These generally accepted norms are referred to as ethical standards.
Countries are developing ethics related laws advocating the correct use of the internet. Any organization should be aware of these laws and develop their marketing programs after taking them into consideration.
Among internet users the biggest concerns come with privacy factor. Privacy is described as a moral right every individual, enjoys from intrusion in their personal affairs. The internet users have their online identity through which they perform a financial and personal transactions. Consumers are very much concerned for the protection of this online identity.
Effective e-commerce requires an organization to protect contact information, consumer profile, and behavioral information etc all the time. Organizations should not share or use personal information without prior consumer consent.
The other half of the legal and ethical issue concerns organization itself and its own protection against hacking or industrial espionage.
The modern digital technology is disruptive in nature. It forces the organization to re-look at its strategies more often. The advent of the internet has seen the rise of online retailers, seriously hampering the function of neighborhood stores.
The biggest challenge for today’s organization is to access the current technological environment and figure which solution would be the best against the competition. Companies can adopt either of following three courses:
In addition to in-home fixed internet access, the newer addition to technology is the mobile connectivity. These mobile connectivity is through phones, internet enabled devices, digital TV and digital radio. With the availability of so many digital devices, a technology convergence is on the horizon.
Like privacy, security is also a great concern for the organization as well as the internet users. A security fear prevents greater adoption of e-commerce facilities.
Any security system should ensure and verify the following:
The overall economic prosperity of the country will determine the extent of e-commerce activities. Organizations will target developed economy for more internet based transaction as compared to a developing country.
The globalization has encouraged the development of a single international market for trade and commerce. It has reduced the social and the cultural difference between countries. This has promoted culture of standardization of prices and reduction of intermediaries.
Language and culture difference pose a special problem to smaller companies as they do not have enough financial resources to develop a regional specific e-commerce.
The political and the governing environment in the region or country is determined through ruling government, public opinion and pressure/consumer advocacy groups.
The government needs to put a control in place as to monitor the development and usage of the internet. But as internet promotes global collaboration, government agencies across countries need to collaborate to ensure the safety of e-commerce.
The countries are examining the current tax structure to ensure that e-commerce activities do not reduce tax collection of local government and agencies.
Organizations need to monitor its macro environment and make necessary changes as to remain competitive and profitable.
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Mapping Customer Behaviour and Pattern is the starting point of E Marketing
February 12, 2025
