Electronic Marketing Essay Example | Topics and Well Written Essays - 2000 words

Electronic Marketing - Essay Example It would elaborate over how the advancements in technology and the advent of internet has assisted organisations in creating and improving customer value with the use of personalization and mass customization. Moreover, it would discuss the ethical and legal constraints associated with the use of internet. DISCUSSION The internet can be formally described as an interconnected network comprised of several networks and millions of computers that aim to link together businesses, educational institutions, government agencies, and individuals. There is no single organization controls the internet or how it functions, nor is it owned by any individual, yet it has provided the infrastructure for the transfer in commerce, scientific research and culture. The advent of internet has brought forward a plethora of opportunities and openings for businesses to take advantage of in order to better serve the customers. (Laudon & Traver, 2007) Marketing is basically the management process responsible for identifying, anticipating and satisfying the requirements of customers profitably with the help of the 4 Ps of the marketing mix, namely, product, price, promotion and place. (Baker, 2001) When internet and related technologies are used to communicate with the audience and the customers this becomes the process of electronic marketing. As the competition over the internet is increasing, there is more stress over providing the maximum value to the online customer. Customer value can be generated through providing them with a favourable experience. This experience can be enriched through the paradigms of internet accessibility, the depth and interactivity of the contents, faster access, convenience, speed of transactions and overall, a pleasant experience. All mass marketing comes down to offering customers with value for money. (Jones & George, 2007) Internet enables companies to produce customized products while maintaining a low unit cost for the products. Mass customization i s a new phenomenon that is taking over the business strategic environment. It can be defined as the enablement of a company to provided products that are tailored to the specific needs and demands of a group or individual bearing similar interest. The internet has increased the implementation of mass customization by companies. The youth of today are habituated to personalizing their experiences, be it the internet or their mobile phones. Customization is taking place over everything and anything, from toys to games to clothing. This generation is accustomed to personalization and customization from their brands and this is why more and more companies are going towards this phenomenon. The demands of the consumers are now less similar. They are unique and different from others making them less predictable for the companies. Mass customization allows companies to cater to specialized requests over a large scale. With the advent of globalization and the advancements in information tec hnology, companies are faced with greater competition from all around the globe. Every company is aiming to gain a presence over the internet which would make them ubiquitous and interactive. The Internet makes it possible, for companies large and small, to offer standardized and customized products and services compatibly, or to merely offer the latter. (Baylis et al, 2007) With the help of personalization, companies can target their marketing messages to individuals by