offline marketing activities:
- advertising on TV, Video and newspapers
- yellow page
- leaflet
- brochure
- word to mouth
- door to door promotion
- posters
- discount
- membership or club card
- telephone advertising
online marketing activities:
- advertising on website
- E-mail catalogue
- E-mail advertising
- search tool, such as google search
- website news page
- forum marketing
(2) Consider two other products/services of your choice. Write down all the offline/online marketing possibilities you can think of.
computer offline marketing activities:
- mail advertising
- TV and Video advertising
- word to mouth
- brochure
- telephone advertising
- poster
- membership card
- leaflet
- discount
computer online marketing activities:
- website advertising
- search tool
- E-mail catalogue
- E-mail advertising
- forum marketing
ticket book service offline marketing activities:
- telephone advertising
- word to mouth
- poster
- newspaper advertising
- yellow page advertising
- leaflet
- discount
ticket book service online marketing activities:
- online booking system
- website advertising
- E-mail advertising
- E-mail catalogue
- search tool
- forum advertising
(3) What makes a great online product from a marketers point of view? How would you measure success?
From a marketers point of view, a great online product should have a clear target market and customer loyalty. The online product should have customer satifaction and these customers would bring you more potential customers from word to mouth, because word to mouth is the most useful advertising tool. And last, the most important is the profit, the product must have profit so we can say it is success.
(4) Preview the pricing of two products and consider some dynamic pricing models.
Dynamic pricing is the dynamic adjustment of prices to consumers depending upon the value these customers attribute to a product or service. Customers' behaviour would affect the price.
2009.8.16 http://jobfunctions.bnet.com/abstract.aspx?docid=242537
For example:
Exclusive Limited Edition computers: some people are crazy about these products and if the products are limited and left only few, some customers would raise the price in order to buy the computers, so the price would goes up;
Airline ticket: some special seats are contribute to people who spend more money, and the price would raise up if the seats nearly sell out.
There are five models:
- Inventory-based models: These are models where pricing decisions are primarily based oninventory levels and customer service levels.
- Data-driven models: These models use statistical or similar techniques for utilizing dataavailable about customer preferences and buying patterns to compute optimal dynamicprices.
- Game theory models: In a multi-seller scenario, the sellers may compete for the same poolof customers and this induces a dynamic pricing game among the sellers. Game theoreticmodels lead to interesting ways of computing optimal dynamic prices in such situations.
- Machine learning models: An e-business market provides a rich playground for onlinelearning by buyers and sellers. Sellers can potentially learn buyer preferences and buyingpatterns and use algorithms to dynamically price their offerings so as to maximize revenuesor profits.
- Simulation models: It is well known that simulation can always be used in any decisionmaking problem. A simulation model for dynamic pricing may use any of the above fourmodels stated above or use a prototype system or any other way of mimicking the dynamicsof the system.
2009.8.16 http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf
(5) What are some of the issues these (pricing) models raise?
These behaviour would effect the equilibrium price, if the new price goes up too high that will affect the equilibrium price, the demand and supply of these products. Prices go up maybe some customers could not buy the products and might affect the brand images.
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