Global Online Marketing: A Concept Replacing Traditional Marketplaces

AbstractContemporary securities industry has evolved into a large excogitation which intromits the aspect of idea merchandise. As the explanation of trade has evolved, so has the need for vendors to use technology to support the ferment. This paper discusses orbiculate online merchandising, its advantages, and the honor satisfactory dilemmas associated with its use. It in any(prenominal) case then discusses whether planetary online market tin passelister take everywhere the traditionalistic marketplace and whether this would prove to be beneficial for twain consumers and marketers. world selling is an evolutionary modelion which has been constantly growing oer time, specific eithery in the to a greater extent recent decades that collect brought along significant technological change. term the definition of merchandising has evolved in this era, so have the look in which it is conducted and the mediums that it is conducted finished with(predicate) and thro ugh (Rossiter, 2001). This significant change has pillow slipd the up emanation of several questions which admit has the meaning of marketing changed with the onset of the internet?, is the internet an ethical putz to use in attempting to persuade consumers to bargain for incr gos?, and whether online marketing has interpreted over the traditional marketplace and how? This paper will condense upon the topic of global online marketing and whether this phenomenon has replaced the traditional marketplace. The paper will begin by focussing upon the changing definition of marketing and how technology has accommodated it, continue with an analysis of online marketing, the benefits reserved to clients/marketers through online marketing, and the ethical dilemmas associated with its used. The paper will then analyse how global online marketing has become the norm and the benefits and/or consequences of it replacing the traditional marketplace along with recommendations regarding how the internet can be used to the consumer/marketers advantage and how its negative refer can be reduced. The paper will conclude with a abridgment of the main points mentioned Evolution of the Definition of marketing and its Impact on engineering merchandise has been a concept which has gradually outgrown its prior definitions as miscellaneous external factors have moved(p) the way it is interpreted and understood by marketers and scholars alike. plot of ground there is increasing debate regarding the definition of marketing, Peter & Olsen try that most scholars in the discipline of marketing argon satisfied with Kotlers definition of marketing which says, trade is human activity directed at squargon(p) needs and wants through exchange processes (Kurzabard & Soldow, 2007, p. 37). However, for those who were slightly unsatisfied with this prior definition of marketing, the American Marketing Association describe marketing as, The process of planning and executing the concep tion, pricing, promotion, & distribution of ideas, goods, & services to create exchanges that satisfy undivided & organizational objectives.(Kurzbard & Soldow, 2007, p. 38). However, most of the previous definitions applied to marketing, show that the main terminal of marketing was the exchange of goods and services (Kotler, 1972). Nonetheless, we often see citizenry political campaign in the streets for support for a picky cause or we atomic number 18 approached by people who ask for donations for a social functionicular kindness. While we whitethorn have no particular association with the cause or the charity and we expect nonhing in return from them psycheally, we be influenced or affected by the ideas presented to us. This can too be regarded as a design of non- affair marketing and can be associated with Kotlers classification of marketing into one-third levels of consciousness, the first regarding it as a business subject associated with buyers, sellers, & othe r frugal products & services, and the second extending marketing as suppress for all organizations that have customers (including non-profit musical arrangements) (Kotler, 1972). While the definition of marketing had previously evolved to accept the activities of non-profit organizations seeking to gain customers/donaters/supporters, etc., it can now be classified to encompass much to a greater extent than that. This is described by Kotlers (1972) consciousness three which describes marketing as an organizations attempt to appeal to its prevalent, non only its consuming public. While this level of marketing whitethorn not have been abandoned a high level of support in 1972, contemporary business practices urge organizations to be socially responsible, encourage motivational behaviour with employees, and to a fault require coordination with suppliers. Thus, it is now just as inbred to market an organisation appropriately to employees, society, suppliers, the media, and s everal other stakeholder groups of the organisation. Some stakeholder groups can be efficaciously dealt with person-to-personly, such(prenominal) as banks who atomic number 18 darkering the organisation a loan. This fundament can be personally marketed an idea which mavens the bank officer to promote the loan and would result in an exchange surrounded by the two parties as the bank lets the organisation money and the organisation agrees to pay the bank affaire on the borrowed amount. However, how can the director of an organisation employing thousands of employees worldwide influence the employees to coincide a naked as a jaybird employment contract promoting a unalike gang of incentivesHow can he/she personally motivate them or congratulate them on a job fountainhead done? Coming back to the traditional view of marketing as a profitable process amidst buyers and sellers, we can apply the following scenario. How can an organisation encourage an expectant customer t o try a newly discrepancyed linguistic rule which would serve her reduce her weight when she is not purge awargon of the product and perhaps the fact that she tied(p) requires itIt would first be essential for the organisation to material body the idea within her mind that she is overweight and then in condition her or so the existing product. However, it is obvious that this task cannot be fulfilled in person as that might be considered rude and passing inappropriate. This is where technology intervenes and begins our handling on the concept of idea marketing and global online marketing. Global Online Marketing and its AdvantagesThe evolving definition of marketing and the need of contemporary businesses to satisfy divers(a) stakeholder groups have led to the increased use of technology in marketing processes. Thus, as a business seeks to satisfy stakeholders or project sure ideas towards them, it uses the facilitate of technological tools such as portals, customer rel ationship direction softw atomic number 18, employee management software, and websites. A charity uses the support of a website which informs all of its stakeholders regarding its cause, how it seeks to implement it, and all other parties that it is associated with. In the same modality, a business organisation uses the aid of a website to illustrate all of its processes including sections mentioning its relationship with its suppliers, social responsibility practices, and sections featuring its fiscal statements and the dividends paid to shareholders. Similarly, customer relationship management software is used to sens and understand consumer wants, market potentially desired products to consumers, and facilitate communication between the organisation and the customer (Pines, Peppers, & Rogers, 2009). While the internet aids in satisfying these needs of contemporary business organizations, it withal serves the current definition of marketing which includes idea marketing and i s said to have a core fix of producing desired rejoinders (Kotler, 1972). Thus, trance it would be difficult to convince an overweight customer that she needs to try a new weight loss formula or to attempt to sell an exceptionally revealing piece of lingerie to a woman who is conservatively dressed, doing this through online marketing would discombobulate it more convenient and acceptable to both the customer and the marketer. There may also be instances in which the customer may note uncomfortable in walking into a store and asking the salesman which persona of brassiere would make her breasts look more erector explaining the condition of a particularly nasty occurrent of acne on her upper thigh and asking what type of ointment would athletic supporter cure it? Online marketing would back up in this regard as it enables feed communication between the customer and the marketer and enables the marketer to expressly form ideas into the customers mind. As Kotler (1972) menti ons, the marketer seeks to influence in any manner and then eventually seeks to produce a desired chemical reaction which may be in the form of support for a cause or an idea or in the form of the purchase of a product. Thus, global online marketing is usually conducted through social media platforms, websites, and personal e-mail in certain situations. The marketer uses these platforms to illustrate their message with the aid of pictures, realistic demonstrations, and articles which may seek to persuade or inform the customer regarding various uses, benefits, and opinions regarding the product (Pires, Stanton, & Rita, 2006). This allows the flow of data from the marketer to the customer and allows convenience to both parties. For example, it is not easy for a marketer to stop people in the street and coerce them to view the design of a new unstable phone and ask them for their opinion on it. For all the marketer may know, the person may not be the least elicit in mobile phones or may not need a new one. It is also then not easy to stop all of the people in the street and tell them close to the various types of reviews that the newly designed phone has. Accordingly, online marketing enables the marketer to efficiently and effectively aim at the send audience and project their message towards them. It also enables the marketer to give the customer as much information as they deem prerequisite in order to persuade the customer to support a particular idea or purchase a particular product. More importantly, it enables the marketer to quickly transmit this information to the customer such as in the instance of a sale or a contest occurring for a particular product or brand (Burton, 2001). As Kotlers (1972) account of generic marketing and the strategies involved in producing a desired response from the customer includes designing the product in a more inviting manner, presenting the product to the customer on more attractive terms, adding symbolic import ee to the product, and making the object more accessible, online marketing assists each of these processes. While online marketing helps the marketer provide the customer with information, illustrations, and persuasion of the products magnet and also mentions the terms on which the product can be bought or acquired (such as discounts or a giveaway contest), it can also help add symbolic significance to the product by featuring an article or video, showing the product being used by a reputation or on a particular occasion. Moreover, it has enabled marketers to get feedback regarding their product and effectively communicate with customers through an economical platform. One very important post that online marketing is now performing for the marketer is making the product more accessible for the customer (Rossiter, 2001). Through e-commerce, marketers have been able to target a large amount of consumers and do the product highly accessible through the click of a mouse. Thus, throu gh the aid of cookies and through previous purchase behaviour, businesses are able to gather information regarding what the consumer needs or is interested in and then make customly designed cites which suit the customers needs. This has enabled an increase in sales and has also enabled the marketer to save be which are associated with setting up and managing corporeal shops and employing large amounts of labour. As emphasized by Pines, Peppers, & Rogers (1995), it has also enabled marketers to anticipate consumer wants and personally develop a skill relationship with their customers by understanding what their customers need and enabling them to retain their customers forever. Online marketing enables mass customization in an economical manner, which is not a process that can be fulfilled in a traditional shop in a cost-effective manner and if done manually would probably lead to a confusing and disorganized situation (Gummesson, 2002). However, global online marketing has not only facilitated the marketer, but has specifically empowered the customer as well according to Pires, Stanton, & Rita (2006). It enables the customer to ask questions and access information without the obstacle of embarrassment, need of demonstration, and at their own leisure. Thus, while a traditional shop may close at 6 pm, a potential customer may require information regarding a product after he/she gets off from work. Online marketing enables the customer to easily and effectively gain this information through technological means at any time he/she pleases. Moreover, online marketing has enabled the customer to access as much information as he/she deems necessary and guide the marketer regarding his/her needs and demands. The customer is able to provide feedback and make comments regarding a product. Moreover, the customer is also able to customly design the type of product he/she needs or suggest the type of offer that would attract him/her towards purchasing a particular pro duct. This enables the customer to take indicate of his/her preferences and purchases and adds to the customers convenience. This is also said to result in a higher satisfaction level within consumers (Gummesson, 2002). While there are numerous advantages of global online marketing, there are also certain disadvantages or ethical concerns associated with its use.Ethical Concerns of Global Online MarketingWhile a consumer may significantly benefit from targeted offers which suit his/her needs/wants, it is also of concern, how marketers are able to make these offersOnline marketing software enables a marketer to install cookies on the consumers computer and keep track of the types of websites that the consumer regularly visits and the types of purchases he/she makes. Accordingly, while keeping track of the consumers behaviour, the marketer is able to show the consumer advertisements of offers that may interest him/her. However, how often have you opened a website and made a secret pu rchase which you did not want anyone to know aboutThen, how is it ethical for a business to know what you have been doing onlineThis raises the concern of cover and plagues many another(prenominal) consumers who are not highly enthusiastic about being followed online (Philip, 2000). Moreover, how would you feel if you made a purchase of lovely pink bunny slippers online and the very attached day when your friend was using your computer, an advertisement featuring a similar product popped upIt would most likely be a cause of immense painful sensation and embarrassment which is also an ethical concern of global online marketing. It is deemed highly unethical to bombard consumers with advertising material when they are least expecting it or specially when they least desire it. Moreover, several studies have also claimed that bombarding a consumer with offers for a particular product when they do not desire such interruptions can lead to resentment towards the product and create a negative trope of the product for the consumer. It is also highly inappropriate for organizations to bombard the consumer with advertisements when they are not sure whether the consumer is in appropriate company to view those advertisements or whether it is the appropriate occasion (Golding, 2000). An additional ethical concern is the processing of online transactions which involves the gathering of financial information such as credit card song and bank account details. Research has proven that 48% of consumers are highly suspicious of this process and refrain from online shopping because they are unwilling to observe such information online. This is a major concern because some of this information is used unethically or fraudulently which then leads to severe consequences for the customer. Moreover, customers are also highly skeptical of online hackers who break into such websites and gain such financial information regarding consumers, thus then using it in a negative manner in order to cause the consumer financial loss. This is cognize as cyber crime (Fuat, 1997). The dilemma of not knowing who you are communicating with and the credibility of the person/organisation is the main ethical concern which is highly distressing for customers and is a hinderance which organizations are attempting to overcome. Despite the ethical concerns of using online marketing, a large proportion of marketers/businesses have successfully adopted it and it is enough progressively accepted amongst consumers. It may be said that global online marketing is taking over traditional marketplaces.Is Global Online Marketing Taking Over traditionalistic Marketplaces and Should It?The use of online marketing is becoming widespread despite the initial reaction of consumers of suspicion regarding whether it can be ethically used or not. Allegedly, the concept has turned the whole world into a global marketplace as businesses are easily able to sell and market their products to cus tomers in different countries. Many businesses have adopted the concept and made it the prime focus of selling/marketing to customers, an example is Amazon. While the concept has largely taken over the traditional concept of a marketplace and may be replacing the traditional marketplace at an increasing rate, there are many debates wherefore it cannot fully take over and also many reasons why it should not (Hunt, 1994). The advantages of global online marketing include convenience, access to information, accessibility, ease of use, and access to a large market which can be targeted effectively. It also enables making partnerships with other firms on the basis of sharing data. However, the ethical dilemmas concerning it include privacy issues, suspicion regarding the revealing of financial details, and bombarding the customer with unwanted advertisements at inconvenient times. Similarly, the reasons that global online marketing cannot fully take over the concept of the traditional marketplace include the fact that half the world motionlessness does not have internet access and many businesses are targeting certain groups of consumers that are not privileged with access/knowledge of using the Internet. For example, consumers in many Third World countries and in other inaccessible areas do not have access to the Internet and are often even unaware of how to use a computer. It would be highly ineffective for a marketer to attempt to target and reach these audiences with online marketing. Another important reason that global marketplaces cannot take over traditional marketplaces is because some products require physical viewing and cannot be purchased after viewing online demonstrations or reading descriptions of the product. This may be specifically true in the case of automobiles or even in the case of clothes which need to be tried on before purchase. Moreover, while in some situations the client may feel more relaxed in talking about or asking questions abo ut the product online, there are some sitatuons which require personal troth and personal contact between the client and the marketer (Hunt, 1994). For example, many brides-to-be would not be highly happy about conversing with the computer regarding their preferred spousal dress and would appreciate personally talking to a sales representative. While these are some of the reasons that online marketplaces cannot take over traditional marketplaces, there are also some reasons which suggest that this should not happen even if it is becoming the norm. First of all, online marketing is taking over the advantages of the value chain and is by chance taking over the concept of a retail store, thus lay many retail stores at a disadvantage. This can mean a loss of business for many people who are in this part of the value chain. Moreover, online marketing means that there is less need for physical labour and a different type of expertise required which may also significantly increase the rate of unemployment and may be a major concern (Woodall, 2001). Another problem with online marketing is that the image it portrays to consumers and the manner in which it glamorously displays products coaxes many consumers to spend hard-earned money on products that they do not need. It often causes consumers to purchase goods that they would not have purchased otherwise and is a rising concern for many countries as it has led to problems of shopaholics. In other cases, consumers are often sold products that they thought were somethingelse or looked differently online, but were tending(p) products which are vastly different from their expectations (Woodall, 2001). Thus, it is evident that while the concept of global online marketing is becoming increasingly popular, widely accepted, and gives advantages and empowerment to both the marketer and consumer, the concept still has certain disadvantages which may prevent it from becoming the sole form of business between organizations and consumers. Accordingly, it is recommended that global marketers use this platform as a way to communicate with their customers and project ideas into their minds while also gaining essential feedback, but not to rely on it as the sole form of communication or exchange between customers and the organisation. Moreover, organizations should be sensitive towards privacy issues of customers and refrain from the use of cookies without explicit permission from their customers. They should rely upon customer feedback, previous purchase information, and comments that the customer willingly provides regarding his/her purchasing preferences. Organisations should refrain from using pop-up advertisements and target the customer in a more discreet manner such as when he/she clicks upon a certain relevant page or through personal email or social media platforms (news popping up in newsfeed on Facebook). Other forms of marketing such as radio, television, and personal contact should also be use d in order to be able to facilitate and attract all types of customers instead of limiting the market to only a particular group of customers.ConclusionThe paper discusses how the evolving definition of marketing has resulted in the need to use technology to support marketing practices. It has established that there are various advantages associated with using online marketing which include convenience, accessibility, and the amalgamation of essential information for both customer and marketer. However, the paper has also pointed out that there are certain disadvantages to the use of online marketing and reasons why it cannot take over the concept of a traditional marketplace.ReferencesBurton, D. (2001) Critical Marketing Theory The Blueprint. European daybook of Marketing. Vol. 35 5/6 pp. 742-743 Fuat, A. (1997). From segmentation to fragmentation markets and marketing strategy in the postmodern era. European Journal of Marketing. Vol.31(3-4) pp.183-185.Golding (2000) Forthcoming Features Information and Communications Technologies and the Sociology of the Future Sociology. Vol 34 (1).Gummesson, E. (2002) concrete value of adequate marketing management theory European Journal of Marketing .Volume 36 (3) pp.325-349Hunt, D. (1994) On Rethinking Marketing Our Discipline, Our Practice, Our Methods European Journal of Marketing Vol. 28(3) pp. 13-25.Kotler, P. (1972) A Generic Concept of Marketing, Journal of Marketing. Vol. 36. pp. 46-54 Kurzbard, G. & Soldow, G. (2007) Towards a parametric Definition of Marketing European Journal of Marketing. Vol. 21 (1) pp. 37-47 Philip, E. (2000) Strategy the abate to the Endgame?(impact of Internet economy on strategy). Journal of Business Strategy. Vol.21 (6) p 12Pines J., Peppers, D., & Rogers, M. (1995) Do You Want to Keep Your Customers Forever? Harvard Business Review. pp. 105-114 Pires, G., Stanton, J. & Rita, P. (2006) The Internet, Consumer Empowerment, and Marketing Strategies. European Journal of Marketing. Vol. 40 9/10 pp. 936-949 Rossiter J. (2001) What is marketing knowledgeStage 1 Forms of marketing knowledge. Marketing Theory. Vol. 1 pp. 9-26Woodall, T. (2001). The Epistobabble Kid Rides Again A Stephen Brown (Selective) Retrospective. Marketing Review. Vol. 2 (2) pp.147.