E-MARKETING STRATEGIES FOR E-BUSINESS
[Pages:82]E-MARKETING STRATEGIES FOR E-BUSINESS
by Zorana Svedic
RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION
In the Faculty of
Business Administration Management of Technology Program
O Zorana Svedic 2004 SIMON FRASER UNIVERSITY
Fa11 2004
All rights reserved. This work may not be reproduced in whole or in part, by photocopy or other means, without permission of the author.
APPROVAL
Name: Degree: Title of Research Project:
Zorana Svedic Master of Business Administration E-Marketing Strategies for E-Business
Examining Committee:
Dr. Colleen Collins-Dodd Senior Supervisor Associate Professor Faculty of Business Administration Simon Fraser University
Dr. Mark Frein Supervisor Associate I Adjunct Professor The Learning Strategies Group, a division of Simon Fraser University Business
Date Approved:
SIMON FRASER UNIVERSITY
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ABSTRACT
A newly formed online company, eLegalDoc, is getting ready to launch their ebusiness website. The company provides simple-to-use, customizable, auto-generated, and affordable electronic legal documents over the Internet.
As the success of the eLegalDoc website is greatly dependent on the effectiveness of its product positioning and traffic generation, eLegalDoc requires the development of competitive positioning strategies and a marketing strategy and tactics to leverage its business model.
This project develops the strategies based on market and competitive analysis. Using these strategies, the author suggests e-marketing tactics to generate costeffective traffic to the eLegalDoc website. In accomplishing this, the first step involves an academic research review of various e-marketing strategies and tactics, including the value bubble model for analyzing e-business websites.
The e-marketing strategies include tactics for the following components: website strategies, website design essentials, affiliate programs, banner advertising, email marketing, search engine marketing, search engine optimization, and online trust building.
iii
This book is dedicated to my partner, Michael, who was behind me every step of the way, and whose support has allowed me to accomplish more than I ever thought possible.
ACKNOWLEDGEMENTS
To Anna Kwan, the president of eLegalDoc, thank you for being exceptionally helpful in providing me with the opportunity to analyze your company. I hope that my research will benefit eLegalDoc.
To Dr. Colleen Collins-Dodd, thank you for your direction and assistance. I appreciate that you have allowed me the freedom to follow my ideas.
TABLE OF CONTENTS
Approval ........................................................................................................................ii
Abstract .......................................................................................................................
...
111
Dedication..................................................................................................................... iv
Acknowledgements....................................................................................................... v
Table of Contents......................................................................................................... vi
List of Figures .............................................................................................................. ix
List of Tables................................................................................................................ ix
I Introduction .............................................................................................................. I
1.1 E-Business Model .............................................................................................2 1.2 eLegalDoc ......................................................................................................... 3
2 Strategic Market Analysis ........................................................................................ 5
2.1 Market Segmentation ........................................................................................ 5 2.1.1 Geographic Segments .................................................................................. 5 2.1.2 Language Based Segments .......................................................................... 6 2.1.3 Psychographic Segments ............................................................................. 8 2.1.3.1 Technographics.................................................................................... 8 2.1.3.2 Do-It-Yourself..................................................................................... I 0 2.1.4 Behavior Segments .................................................................................... 10 2.1.4.1 Benefits Wanted ................................................................................. 11 2.1.4.2 Product Usage ................................................................................... 12
2.2 Online Target Marketing................................................................................. 1 4 2.2.1 Targeting Strategies ................................................................................. 14 2.2.2 Niche Market - Small Business .................................................................. 15 2.2.3 Technology Adoption Life Cycle Model ....................................................... 16 2.2.4 eLegalDoc Customers ................................................................................ 18 2.2.4.1 Customers' Needs.............................................................................. 18 2.2.4.2 Customers' Scenarios ........................................................................ 19 2.2.5 eLegalDoc Services.................................................................................... 20 2.2.5.1 ProductlService Benefits .................................................................... 20 2.2.5.2 eLegalDoc Centers............................................................................. 21
2.3 Competitive Analysis ....................................................................................... 23 2.3.1 Direct Competition ...................................................................................... 23
2.3.2 Competitive Websites Evaluation................................................................ 24 2.3.3 Indirect Competition.................................................................................... 26
2.4 Positioning....................................................................................................... 27
2.4.1 eLegalDoc Positioning Statement ............................................................... 27
3 E-Marketing............................................................................................................. 28
3.1 E-Business & E-Marketing Strategies.............................................................. 28 3.2 E-Business Marketing...................................................................................... 28
3.2.1 Traditional vs. Internet Marketing Mix ......................................................... 29
3.2.2 E-Business Marketplaces ........................................................................... 31
3.3 E-Marketing Strategic Issues........................................................................... 31 3.4 E-Marketing Tactics......................................................................................... 32
3.4.1 Domain Name............................................................................................. 32 3.4.2 Permission Marketing ................................................................................ 3 4 3.4.3 Viral Marketing............................................................................................ 34 3.4.4 Email Marketing.......................................................................................... 35
3.4.4.1 Opt-In Email ....................................................................................... 35 3.4.4.2 Opt-Out Email .................................................................................... 36 3.4.4.3 Spam.................................................................................................. 37 3.4.5 Search Engine Marketing (SEM)................................................................. 37 3.4.6 Partnering................................................................................................... 39 3.4.7 Banner Advertising ..................................................................................... 40
4 The Value Bubble Model ........................................................................................41
4.1 Five Elements of the Value Bubble.................................................................. 41 4.1.1 Attracting .................................................................................................... 42 4.1.2 Engaging .................................................................................................... 43 4.1.3 Retaining .................................................................................................... 44 4.1.4 Learning ..................................................................................................... 45 4.1.5 Relating ...................................................................................................... 46
5 Recommendations.................................................................................................. 47
5.1 Website Strategies .......................................................................................... 47 5.1.1 Tactics to Attract - Bring Traffic to the Website .......................................... 47 5.1.2 Tactics to Engage - Keep Visitors on the Website ...................................... 48
5.1.3 Tactics to Retain - Convert Website Visitors to Customers ........................ 48
5.2 Website Design Essentials .............................................................................. 49 5.2.1 Tactics to Create User-Friendly Website ..................................................... 49
5.2.2 Color and Layout ...................................................................................4..9...
5.2.3 Type ........................................................................................................... 51 5.3 Online Promotion Campaigns......................................................................... 5 2
5.3.1 Affiliate Programs ....................................................................................... 52 5.3.1.1 Affiliate Networks................................................................................ 52
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