Decision 1 : E-Business channel priorities
> E-business strategy must be directed according to the priority of different strategic objectives
- Buy side e-commerce
- Sell side e-commerce
> Strategic options for a company in relation to the importance of the internet as a channel
Example for All transactions & Customer Service Online : British Airways and Automobile Association
> Assessing different Internet Project : Potential e-commerce opportunities against the ability to deliver. Typical opportunities for Internet marketing strategy:
1. Online Catalog Facility
2. e-CRM system – lead generation system
3. e-CRM system – customer service management
4. e-CRM system – personalization of content for users
5. Partner relationship management extranet for distributors / agents
6. Transactional e-commerce facility
Decision 2 : Organizational restructuring and capabilities
> Whether to restructuring or not to achieve the priorities?
1. In-house division (Integration) example: www.rswww.com
2. Joint Venture
3. Strategic Partnership (Mixed)
4. Spin-off (Separation)
First two are Mix of online and offline transactions and last two are complete online
Examples:
1. Barclays Bank
a. Aim : to double the profits by restructuring the business model
b. Followed : integrated operation with the e-business contained with in existing line of business
2. Kingfisher
a. Aim : to setup e-Kingfisher as a new business unit to have the best of both dot-com and regular business
b. Followed : Separate stand-alone line of business, a model chosen by firms
Decision 3: Business, service, and revenue models
> Time to time review of opportunities from new business and revenue models
Example:
Dell Computers – an early mover into market place in mid 1990. S1million/day in mid 90’s to $50million/day in 2000. In September 2000 started offering IT Consulting services through linking ERP specialist to keep the market share. Also launched www.dellmarketplace.com a B2B market place aimed at discounted office goods.
> Though its good to focus and new business models, companies should not loose focus on core business.
> Before going for new business model managers need to consider:
1. Do nothing
2. Wait and see
3. Learn from competitors mistakes
Decision 4: Marketplace restructuring
> Consider the options created through disintermediation reintermediation with in a market place
> Sell Side:
- Disintermediation (sell-direct)
- Create new online intermediary (counter mediation)
- Partner with new online or existing intermediaries
- Do nothing
> Buy Side:
- Disintermediation (buy direct, bypassing distributors)
- Buy through new intermediaries such as B2B exchanges
- Do nothing
> Deciding on which markets to target is a key strategic consideration for internet marketing strategy.
Options to be considered for e-commerce context:
- Market Penetration
- Market Development
- Product Development (development of new digital products or services) example: www.constructionplus.com
- Diversification example: www.smile.co.uk
a. An internet specific bank by Co-Operative Bank of UK
b. Started in October 1999 and added 200,000 customers in first year at the rate of 20,000/month
c. 80% of the customers were market development in the parent context.
d. Offers online shopping from the same banking site
> Target Marketing Strategy : Evaluation and selection of appropriate segments and the development of appropriate offers.
- The most profitable customer
- Larger companies (B2B)
- Smaller companies (B2B)
- Particular member of the buying unit (B2B)
- Customers who are difficult to reach using other media
- Customers who are brand loyal
- Customers who are not brand loyal
Decision 6: Positioning and differentiation strategies
> Companies position their products relative to competitors according to four mail variables : product quality, service quality, price and fulfillment time.
Customer Value
(Brand Perception)= Product Quality * Service Quality / Price *Fulfillment Time
> Four options for strategic focus to positions a company in the online market place:
- Product performance excellence (provide online product customization)
- Price Performance excellence (Offer favorable pricing or reduce prices)
- Transactional excellence (Combining pricing information with dynamic availability information on Products) example: www.dabs.com
- Relationship Excellence (Enable customers to review sales order history and place repeat orders) example: www.rswww.com
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