It is my great pleasure and proud to be able to complete and present this project report on “Market potential survey for E-Marketing ND E-commerce in Barmaid city area” within the given span of time. The completion of this project work is an Important beginning and a milestone in my professional life and the completion of the same was possible only with the inspiring and valuable guidance, cooperation and united support rendered to me by. Mr.. Ankhs Adore, Director, Adore Consultancy Services Pet.
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Ltd. Pun, Miss Ashland Pillaging and my other colleagues at Adore Consultancy Services. Not only did they guided me In this project, but also taught me the basic practical skills required to be a good manager. I m deeply indebted and thankful to them for their valuable support and guidance. I would like to thank Dry. S. S. Jihad, Director, S. V. P. M. ;s Institute of Management, for his valuable support and having faith in me. I am also thankful to my project guide Proof. S. B.
Prewar for his time to time guidance and valuable suggestions he has given throughout the project work. I also want to thank Proof. Inelegant Done for his continuous support and motivation. It would be unfair if I forget my friends and family members who have always encouraged me to carry on my project with the read zeal and undisturbed work that helped me to concentrate on the given work to complete It within the stipulated period. I express my sincere thanks to all of those who supported me directly or Indirectly In carrying out this project.
Introduction There is no doubt about it – the Internet has changed the world we live in. Never before has it been so easy to access information, communicate with people all over the globe and share articles, videos, photos and all manner of media. The Internet has led to an increasingly connected environment, and the growth of Internet usage has resulted in declining distribution of traditional media: television, radio, newspapers and magazines. Marketing in this connected environment and using that connectivity to market is E-Marketing.
E-Marketing embraces a wide range of eateries, but what underpins successful E-Marketing is a user-centric and cohesive approach to these strategies. Marketing is about conversations, and the Internet has become a hub of conversations. The connected nature of the Internet allows us to follow and track these conversations, and provides entry points for all parties. The increasing use of Internet has forced organizations to enhance their operations online. Internet subscribers in India have already crossed over 100 million internet user base (of which 40 million people in India access the Internet from work, 30 million from Cafes, 12. Million households have a broadband connection installed), and another 40 million Internet users in India access internet through their mobile phones. The IT industry is expecting internet penetration rate to increase from the current rate of 6. 9%, which shows that their lies a bright future for the e-marketing and E-commerce firms. Advances in telecommunications and computer technologies in recent years have made computer networks an integral part of the economic infrastructure. More and more companies are facilitating transactions over web.
There has been tremendous competition to argent each and every computer owner who is connected to the Web. Although business-to-business transactions play an important part in E-commerce market, a share of Commerce revenues in India is generated from business to consumer transactions. E-commerce provides multiple benefits to the consumers in form of availability of goods at lower cost, wider choice and saves time. People can buy goods with a click of mouse button without moving out of their house or office. Most experts believe that overall E-commerce will increase exponentially in coming years.
Business to business transactions will represent the largest revenue but online detailing will also enjoy a drastic growth. Online businesses like financial services, travel, entertainment, and groceries are all likely to grow. For developing countries like India, E-commerce offers considerable opportunity. It is believed that low cost of personal computers, a growing installed base for Internet users will help fuel E- Commerce growth in India. According to a McKinney-Mascot report by the year 2012, E-commerce transactions in India are expected to reach $1 50 billion. Indian middle class of 288 million people is equal to the entire U.
S. Consumer base. This sakes India 2 a real attractive market for e-commerce. There has been a rise in the number of companies taking up E-commerce in the recent past. Major Indian portal sites have also shifted towards E-commerce instead of depending on advertising revenue. Many sites are now selling a diverse range of products and services from flowers, greeting cards, and movie tickets to groceries, electronic gadgets, and computers. With stock exchanges coming online the time for true Commerce in India has finally arrived. There are many challenges faced by E-commerce sites in India.
The relatively mall credit card population and lack of awareness among general public create a variety of payment challenges. Delivery of goods to consumer by couriers and postal services is not very reliable in smaller cities, towns and rural areas. However, many Indian Banks have put the Internet banking facilities in place for the upcoming E- Commerce market. The speed post and courier system has also improved tremendously in recent years. Modern computer technology like secured socket layer (SSL) helps to protect against payment fraud, and to share information with suppliers and business partners.
With further improvement in payment and delivery system it is expected that India will soon become a major player in the E-commerce market. While many companies, organizations, and communities in India are beginning to take advantage of the potential of E-commerce, critical challenges remain to be overcome before E-commerce would become an asset for common people. 3 create value for their customers and to increase their competitive edge in face of a fierce competition. There have been ballooning growths in online retailers in past few years websites such as flippant. Mom, infinite. Com and eBay. N have seen phenomenal success in past few years. Consumers, on the other hand change rapidly from one website to other as it very easy to find best deals online on different websites and all it takes is a click on a link and you can visit a competitors website which may offer more attractive deals for products you are looking for, also there are other reasons for losing consumers like – effectiveness and friendliness of a website, logical flow, website loading times, graphics, security feature, browser compatibility and finally professional look.
Many new technologies like Near field communication, r MFC, allows for simplified transactions, data exchange, and connections with a touch. It is anticipated to become a widely used system for making payments by Smartened. With help of many payment options like – cash on delivery (COD), use of credit cards, debit cards, credit cards with MI facility, initiating/ bank transfer, mobile/ cash cards it has become very easy to shop for anything online. As all retailers online provide strict security for all products, they mostly provide guaranties such as “7 days return, no questions asked” policy, “in transit insurance”, etc. It has come more secure to shop online. 4 With increase of integration of logistics with online retail business, it has decrease the lag time between placing of order and delivery of product. Nowadays products are delivered within days to the customer as oppose to weeks previously. All the E- Commerce business have integrated and streamlined their business activity with logistics which provides both pickup and drop facilities and hence decrease lag time. E-commerce and E-Marketing has lot of potential in India, only hindrance is the ambiguity in minds of both customer and retailers.
There has been little or no awareness about these mediums and hence traditional businesses shy away from getting involved in online trading. Same goes for the consumers – general public is still scared to do transactions online. Almost all banks offer some form of security/ protection for online transactions which in turn has made hacking and online fraud impossible. Security measures such as requirement of a postcode (sent only to registered mobile of account holder) for completion of a transaction has made it impossible to complete transaction without this pass code.
With increasing no. Of roadman users and recent entry of 36 in India there is going to be ballooning growth of internet users, all of which can be prospective customers for any kind of online business. It has become more economical for new entrepreneurs to start new ventures online due to low capital requirements. Anybody with little knowledge of internet can start selling online. Websites such as eBay provide you with all required facilities and tools to setup your shop online without you having to know anything about 5 time it is delivered to the customer.
E-commerce in India still has huge untapped potential & will continue to grow robustly. There are multinational companies like Amazon. Com coming to India from abroad as they want to expand their market beyond their local country, and they are looking to tap into the potential of Indian market. People are getting more and more web as’. N. Y when it comes to cell phones. We will see the integration of E-commerce with other technologies out there such as social networks which will play a major role in the E-commerce world. Social networks such as backbone can influence the popularity of a product.
Looking at the near future, E-commerce will become an industrial revolution in India. I have been n avid online shopper since 2004, when I got my first savings account with net banking facility from Axis Bank. I have shopped from numerous website and had experienced both positive and negative aspects of online shopping. I wanted to know both consumers and retailers opinions about E-commerce and E-Marketing and wanted to find out about public awareness and willingness to shop/ sale online and hence chose Marketing and E-commerce as subject for my project. 1. Theoretical Background E-Marketing Definition and scope: Internet marketing or E-Marketing is a component of electronic commerce. Internet racketing is also referred to as Online Marketing”. Marketing can sometimes include information management, public relations, customer service, and sales. Recently E-commerce and E-Marketing have become popular due to increase in widespread availability of internet services. E-Marketing is nothing but the use of information technology for creating, communicating, and delivering value to the customer, and also for managing customer relationship such as it benefits the organization and its shareholders.
To put it more simply – E-Marketing is application of information technology on traditional marketing. E-Marketing affects traditional marketing in two ways: 1) It increases efficiency and effectiveness in traditional marketing functions. 2) The technology of E-Marketing transforms many marketing strategies which results in new business models that add customer value and/or increase company profitability. Rapid growth of the internet and the subsequent bursting of the DOT COM” bubble coupled with mainstreaming of the internet and related technologies created today”s climate for marketing convergence.
Comprehensive integration of E-Marketing and traditional marketing allowed 7 creating seamless strategies and tactics. Many digital technologies such as the mobile phone also converged with the digital camera and personal digital association (PDA). Convergence is an important theme for e-marketing. How does e-marketing activities through digital technology. E-Business involves attracting and retaining the right customers and business partners. It integrates business processes, such as product buying and selling.
It includes digital communication, E-commerce and online research, and it is used by every business discipline. E-commerce is the subset of business which focuses on transactions. E-Marketing is only one part of an organization”s business activities. Business models: Internet marketing is associated with several business models. The main models include 0 Business-to-Business (BIB) 0 Business-to-consumer (BBC). 0 Peer-to-Peer (POP) BIB consists of companies doing business with each other, whereas BBC involves companies selling directly to the end consumer.
BBC model was first to emerge when Internet marketing started, BIB transactions were more complex and came about later. The third less common business model is pepper-peer (POP) in this model individuals exchange goods between themselves. 8 Benefits of e-marketing: E-Marketing gives businesses of any size access to the mass market at an affordable price, and unlike TV or print advertising it allows truly personalized/ targeted marketing. Specific benefits of E-Marketing include: 0 Global reach – A website can reach anyone in the world who has Internet access. This allows you to find new markets and compete globally. Lower cost – A properly planned and effectively targeted E-Marketing campaign can reach the right customers at a much lower cost than traditional marketing methods. Also investment needed to start an Commerce business is far less compared to traditional business. Traceable, measurable results – email or banner advertising makes it easier to trace how effective a campaign has been. It is possible to obtain detailed information about customer”s responses to an advertisement or how many times an advertisement has been clicked. It is even possible to know how many times the mouse cursor hovered in and out of an advertisement. Xx marketing – Having an E-commerce website or putting an advertisement online makes it possible for prospective customers to find out about products and buy products from a website 24 hours a day and 7 days a week even when shops are closed. This gives the customer freedom of shopping any time he desires. 9 0 Personalization – If customer database is linked to a website it is possible that whenever a returning customer visits the website a customer specific targeted offer is displayed to that customer which can be based on past shopping data stored on the website servers.
The more the customer buys the customers profile is refined and it is possible to target offers more effectively to that customer. 0 One-to-one marketing – E-Marketing make it possible for companies to approach people who want to know about company”s products and services instantly. For example, many people take mobile phones and Pads wherever they go; combine this with the personalized aspect of Marketing this makes it possible to create very powerful, create interactive campaigns using music, graphics, animation and videos.
An advertisement can be in any form like a game, quiz, animated banner or in general anything that can attract or generate customer”s interest in the product. 0 Better conversion rate – If a company has a website it is possible for a customer to purchase any of the company”s products by click a few links on the website which is unlike any there media which requires people to get up and make a phone call or post a letter or go to a shop and spend hours browsing and searching for a particular product. E- Marketing is seamless. 0 Pay per click Pay Per Click (PC) is the hottest medium of online marketing today and is likely to be strengthen in future. With growing popularity and the ease of PC, it can be regarded as a simple and effective way of Internet marketing through which a company can reach a targeted market very fast in order to generate more business leads and increase sales of the company”s products and services very easily. PC advertising needs a good planning which can help a company to target product specific customers.
Good planning is needed to generate effective keywords so as to match with customer”s entered keyword about company”s products or services. Another fact about PC is that many advertisers are prohibited from bidding on keywords since their ad”s click through rates are very low, but it should be noted that that there are thousands of companies offering the same product and services and are paying high for each click, so time will come, when a company”s ad will be removed due to its low d click through rate, therefore a company must focus on the way competitors are presenting themselves and should be prepared to prove best among all.
Company must plan and generate unique and sophisticated keywords instead of common terms, and also create an ad campaign strategy so as to represent its products. In contrast to organic search engine listing, Pay Per Click does not require extensive content management and link building campaigns, but it should be kept in mind that site”s landing page must contain all the information that are needed to convince potential consumers. Benefits of Pay Per Click Campaign: 0 It is the cost effective method of campaigning for business, products and services. Company can choose minimum bid on keywords. 0 Company will be linked only to targeted and potential buyers who are actively searching for its products thus gaining accuracy in business. 0 It is a fast and easy medium of advertising for all kind of business as there is probability of new prospective customers viewing the ad as soon as the ad campaign is approved to go live. 0 Company can guide visitors to relevant page so as to significantly improving their purchasing experience and aging them more inquisitive. Thorough campaign report on daily, weekly or monthly basis a company can effectively know about the progress of their campaign 12 E-commerce Electronic commerce, commonly known as E-commerce, commerce or e-com, refers to the buying and selling of products or services over electronic systems such as the Internet and other computer networks. However, the term may refer to more than Just buying and selling products online. It also includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services.
The amount of trade conducted electronically has grown extraordinarily with widespread Internet usage. The use of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (DE’), inventory management systems, and automated data collection systems. Modern electronic commerce typically uses the World Wide Web at least at one point in the transaction’s life-cycle, although it may encompass a wider range of technologies such as e-mail, mobile devices and telephones as well.
A large percentage of electronic commerce is conducted entirely in electronic form for virtual items such as access to premium content on a website, but mostly electronic commerce involves the transportation of physical items in some way. Online retailers are sometimes known as e-tailors and online retail is sometimes known as e-tail. Almost all big retailers are now electronically present on the World Wide Web. Electronic commerce that takes place between businesses is referred to as business- to-business or BIB. BIB can be open to all interested parties (e. G. 3 moodily exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that takes place between businesses and consumers, on the other hand, is referred to as business-to-consumer or BBC. This is the type of electronic commerce conducted by companies such as Amazon. Com. Online shopping is a form of electronic commerce where the buyer is directly online to the seller’s computer usually via the internet. There is no intermediary service involved. The sale or purchase transaction is completed electronically and interactively in real-time such as in Amazon. Com for new books.
However in some cases, an intermediary may be present in a sale or purchase transaction such as the transactions on eBay. Com. Electronic commerce is generally considered to be the sales aspect of business. It also consists of the exchange of data to facilitate the financing and payment aspects of business transactions. 14 Limitations of E-Marketing and E-commerce Though there are advantages of internet marketing there are some limitations that can create problems for both companies and consumers these are as follows: 0 Slow Internet connections can cause irritating website loading time. 0 If a company builds