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Dr. A.P.

J Abdul Kalam Technical University, Lucknow

A Mini Project Report-1 KMBN-152


on

“Internet Marketing Strategies – approaches and


challenges”
Submitted in the Partial Fulfillment of the
Requirement for Qualifying
Master of Business Administration Batch: 2022-2024
Submitted To: Submitted By:
Dr. Richa Sharma Nishikant Kumar
Associate professor Roll no:- 61213884

Department of MBA
IIMT College of Engineering, Greater Noida Knowledge
Park-III, Greater Noida
CERTIFICATE

This is to certify that Mr. NISHIKANT KUMAR University Roll No...................................... is


a regular student of MBA 1st year and had completed his mini- project on “Internet Marketing
Strategies – approaches and challenges” for partial fulfilment of the curriculum for the award
of the degree of MBA from DR. A.P.J. ABDUL KALAM TECHNICAL UNIVERSITY,
LUCKNOW, is an original work done by him.

Dr. Richa Sharma


Associate Professor

i
ACKNOWLEDGEMENT

This mini project is the outcome of sincere efforts, hard work and constant guidance of not only
me but a number of individuals. First and foremost, I would like to thank IIMT College of
Engineering, Greater Noida. I am thankful to my faculty guide Associate Professor Dr Richa
Sharma for providing me help and support throughout the Project Report Period. I owe a debt
of gratitude to my faculty guide who not only gave me valuable inputs about the industry but
was a continuous source of inspiration during these months, without whom this project was
never such a great success. Last but not the least I would like to thank all my faculty members,
friends and family members who have helped me directly or indirectly in the completion of the
project.

NISHIKANT KUMAR

ii
DECLARATION

This mini project report on “Internet Marketing Strategies – approaches and challenges”
It has been undertaken as a partial fulfillment of the requirement for the award of the degree of
Master of Business Administration of AKTU, Lucknow. I hereby declare that this Project is
my original work and the analysis and findings are for academic purposes only. This project
has not been submitted by the any student earlier to any other institution / university.

NISHIKANT KUMAR
DATE…………………

iii
CONTENTS
PAGE N0.

CERTIFICATE……………………………………………………………………..……i

ACKNOWLEDGEMENT……………………………………………………..………...ii
DECLARATION………………………………………………………………………...iii

1. INTRODUCTION OF INTERNET MARKETING…………………………….1-2


2. IMPACT OF INTERNET MARKETING IN GLOBAL
MARKET……………………………………………………..............................3-4
3. IMPACT OF INTERNET MARKETING IN INDIAN
MARKET………………………………………………………………………..5-7
4. INTERNET MARKETING WITH REFERENCE TO MYNTRA……..……....8-17
5. OBJECTIVE OF THE STUDY…………………………………………………18-24
6. RESEARCH METHODOLOGY……………………………………………......25
7. LITERATURE REVIEW……………………………………………………......26-30
8. LIMITATION……………………………………………………………...…….31
9. SUGGESTIONS…………………………………………………………………32-37
10. CONCLUSION……………………………………………………………….....38
11. BIBLIOGRAPHY………………………………………………………………39-40
1. INTRODUCTION OF INTERNET MARKETING

Internet marketing refers to any form of advertising or marketing on the web. It’s an all
inclusive term for promotions shared via emails, social media posts, paid
advertisements displayed on search engines, etc. As users get younger, companies have
shifted their marketing strategies to the Internet, where they can reach a larger, more
relevant audience at lower cost to traditional advertising options.

With the right online marketing strategies, small and medium businesses are finding
new ways to compete against the big companies. Even with a limited budget, companies
are able to get creative and effectively reach customers at each stage of the buying
cycle. Be it when a consumer is searching on Google while considering a purchase or at
the final stage before checkout, they will see your brand at every step of the way.

There is an entire marketing platform with consumers just waiting to discover your brand.
Using data analysis and optimization tools, you can reach the most relevant and qualified
customers. With computer programs and tools doing most of the work for you, finding
your new customers is just a click away at a lower cost. As a result, you waste less money
as a business and generate a higher rate of return on your marketing investment (ROMI).

Marketing has been the most effective tool in gathering potential audiences and
maintaining cordial ties with the present audience. Marketeers have been using different
tactics and strategies for a long time to lure customers.

With the age of digital transformation, even marketing strategies have turned into internet
marketing strategies and a whole lot of them have come up which have caused the mass
change.

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These strategies are considered judicious in portraying the brand’s image to the customers
and potential customers.

Continue to read forward to understand what is internet marketing and what are the
different strategies that help in carrying out marketing of a product or service.

Note-

I. Marketing is dynamic and impactful. The details differ between industries, but at its
most basic marketing is how businesses reach prospective customers and
communicate the unique benefits of a product or service. It encompasses all the
activities that companies undertake to promote, sell, and distribute that product or
service. The goal is to generate sales and build a loyal customer base by informing
prospective and existing buyers about the offering.
II. Target audience must first be aware that product or service exists before can hope to
inspire a purchase. An essential function in any business, marketing supports efforts
to acquire, keep, and grow customers.
III. But marketing does not end there — ongoing engagement also helps build loyalty
and establish a long-term relationship. Effective programs and campaigns reach and
engage audiences, differentiate the company from competitors, and support larger
business objectives, such as increasing sales or expanding to a new market.

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2. IMPACT OF INTERNET MARKETING IN GLOBAL
MARKET
The internet and its associated technology has provided an economical and efficient way for
organizations to create an additional e-commerce activities to market their products and
services over the past several years. Internet affects the activities of marketing channels in
three different ways, such as 1. Communication channels, its principal functions are to inform
customers or buyers about availability and characteristics of supplier’s products/services and
facilitate buyers to communicate with sellers; 2. Transaction channels, whose primary
function is to facilitate financial exchanges between buyers and sellers and 3. Distribution
channels, its main function is to facilitate physical exchanges.

The effect of the internet on the international businesses is making it easier for companies to
participate in foreign markets, globally rollout new products, making easier for companies to
offer globally standardized products or services, is more often used by companies for
customer-related activities than for production-related activities, is not being used much by
companies to develop a globally uniform marketing mix and is being used somewhat by
companies in selling and customer-related activities to help with the strategy of making
globally coordinated competitive moves .

The Internet has given rise to a new economics of information, with the “blowing up” of the
trade-off between the richness of information involved in a transaction and the number of
people that it could reach.

There are lot of advantages when an organization uses internet for their business. Internet can
increase the sales and it can decrease the costs. Because the web advertisements reaches an
amount of customers all over the world. A business can reduce its costs by using electronic
commerce in its sales support and order-taking processes, twenty four hours online shopping,
lower transaction cost, larger purchases for transaction, People can shop in different ways.

Also organization has some disadvantages when they use internet for their business. Such as
hidden costs, vulnerability to technical crash, cost of staying in business, lack of security,
invasion of privacy, low service levels and legal issues.

When analyzing the Internet's effect on the global market and small business, it is important to
remember that the Internet carries information as well as commerce. The effects of instant
information can be as powerful as the ability to reach a worldwide audience. But small
business still needs to carefully examine the effects of the Internet on international markets to
understand whether or not an online presence is the right move.

Product Development

1. Prior to the advent of the Internet, information traveled around the world via telephone,
television or print. Large businesses that were working on advances in technology
would have access to the newest information, but small businesses would have to hunt
for the information on their own. The Internet has allowed small businesses instant

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access to any new product developments and technological advances that can help
improve their products and compete with larger companies.

Information Exchange

1. The way that small businesses exchange information has changed drastically since the
Internet has become popular. Small businesses did not have the financial resources to
arrange large meetings with suppliers or developers that would require air travel and
accommodation expenses. Now, through email, online video conferencing and
document-exchange websites, small businesses can collaborate with developers and
vendors all over the world inexpensively and with a full exchange of necessary
information.

Marketing

1. One of the more significant effects that the Internet has on global markets for small
business is the ability for small businesses to reach an international audience for a
very low cost. A corporate website can become a marketing resource for a company
that can be accessed by anyone in the world. Social networking websites allow
companies to interact with millions of potential clients worldwide at no cost.

Monitoring

1. The Internet allows small business owners to be more mobile by making it easier to
manage a business from anywhere. A small business owner on a business trip can stay
in real-time contact with his office through an online chat function and exchange
important documents with anyone from any location in the world. The Internet has
allowed small business owners the freedom to pursue business opportunities while
still maintaining control over their businesses

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3. IMPACT OF INTERNET MARKETING IN INDIAN
MARKET
Digital marketing in today’s time has become the most effective tool to promote the activities
of business on a large scale in a quick time. Promoting the business through digital means
helps create a relationship with the customers and at the same time ensures depth and
relevance. During last few years, the technologies have evolved significantly and the role of
social media and Google has accelerated the scope of digital marketing quite significantly.

The most rewarding aspect about digital marketing is that it gives a level playing field to
incumbents as well as small businessmen for their business promotion. Marketing via digital
means help enhance the online presence of the business and provide a perfect platform where
one can build the image of their brand quite strategically. The rapid evolution of digital
marketing tools has certainly created new avenues for marketing and advertising of business.
Digital marketing over the years have certainly provided a perfect platform for promoting the
activities of business, given below some most popular digital marketing in India.

Level Playing Field


Since the advent of digital marketing and associated tools of business promotion, any business
can compete with their competitor regardless of their size and popularity. A creative and well
thought out marketing technique can help small businessman promote their business using
online tools quite effectively in comparison to traditional tools of marketing employed by
large businesses. Its gives J curve growth in business.

Direct Customer Interaction


One of the most suitable impacts that digital marketing have had on business promotion in
India is that it has brought businesses and consumers on the same platform. Digital marketing
tools like social media provide businesses the opportunity to communicate with their potential
customer in real time, which proves highly beneficial in creating quick responses and
designing a marketing plan according to the requirements of the customer.

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Faster transfer of information
Promoting the activities of business was never as fast as it has become now. Digital
marketing tools like electronic media and social media help businesses communicate
information about products to clients in matter of short time without having to wait for a
specific time. Tools like business websites, TV ads, emails and social network help transfer
information in minutes and ensure that customer gets aware about product and services of the
business in the quickest time frame. Real time results
One of the most visible impacts that digital marketing techniques have had on business over
past few years is that now results can be measured in real time. Whether you are promoting
your business through social media or email marketing, you can always take help of data as to
how many visitors have visited to your site and how many have subscribed to your services
and at what time. You can also get information regarding visitor conversion code and many
more information at the touch of a button.

Concept of Viral
When as a business you take help of online tools like social media, emails, website content
and SOE, this enables your link and message to be shared quickly over a large platform. If
your content of information is effective, then it can go viral in matter of few days and you
stand quite significant chances of making your business popular in a quick time.

Reduced Advertising Cost


Since the advent of digital marketing, it has become absolutely hassle free to promote the
activities of the business on the web. Any smart business can develop a creative and effective
online marketing strategy in a quick time at a little cost to promote and market the activities

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of business. Online marketing reduces dependence on costly advertising channels such as
print media, television and radio etc. Shifting of strategy
Since every digital marketing tool is highly cost effective and helps measure results in real
time, it becomes quite easy to redesign or change a strategy that is not effective. The best
thing is that, strategy can be formulated based on customer interactions and this helps
yielding far positive and favorable results for better promotion and profit of business.

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4. INTERNET MARKETING WITH REFERENCE

TO MYNTRA

About Myntra
This article has been researched & authored by the Content & Research Team. It has been
reviewed & published by the MBA School Team. The content on MBA School has been
created for educational & academic purpose only.

Browse marketing analysis of more brands and companies similar to Myntra. This section
covers SWOT Analysis, Competitors, Segmentation, Target Market, Positioning & USP of
more than 2500 brands from over 20 industry sectors.

Myntra is a major Indian fashion e-commerce company headquartered in Bengaluru,


Karnataka, India.[1] The company was founded in 2007-2008 to sell personalized gift items. In
May 2014, Myntra.com was acquired by Flipkart.
In May 2022, Myntra launched an express delivery service on its app to offer one of a kind of
experience by fashion & beauty platform. This service allows shoppers to receive their orders
for products marked with ‘M-express tag’ on the listing page within 24 – 48 hours of
purchase.
SWOT analysis of Myntra analyses the brand by its strengths, weaknesses, opportunities &
threats. In Myntra SWOT Analysis, the strengths and weaknesses are the internal factors
whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Myntra to
benchmark its business & performance as compared to the competitors. Myntra is one of the
leading brands in the IT & Technology sector.

The article below lists the Myntra SWOT, competitors and includes its target market,
segmentation, positioning & USP. Let us start the Myntra SWOT Analysis:

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In this article:
Company business strategy

• Strengths

• Weaknesses

• Opportunities

• Threats

• Competition

SWOT Analysis of Myntra


For Myntra, SWOT analysis can help the brand focus on building upon its strengths and
opportunities while addressing its weaknesses as well as threats to improve its market
position.

Myntra Strengths
The strengths of Myntra looks at the key aspects of its business which gives it competitive
advantage in the market. Some important factors in a brand's strengths include its financial
position, experienced workforce, product uniqueness & intangible assets like brand value.
Below are the Strengths in the SWOT Analysis of Myntra. 1.Merger with flipkart has
increased its strength and capacity

2. Retention of its independence even after merger.

3.Offering of more than 1.5 lakhs products with over 1000 brands

4. Efficient supply chain and delivery capability helps it to cater to 90,000+ locations.

4.”End of season sale” –a huge success, Rs.90 crore worth of goods sold

5.Good advertising and marketing campaigns on TV, internet and print

Myntra Weaknesses

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The weaknesses of a brand are certain aspects of its business which are it can improve to
increase its position further. Certain weaknesses can be defined as attributes which the
company is lacking or in which the competitors are better. Here are the weaknesses in the
Myntra SWOT Analysis:

Myntra Opportunities

The opportunities for any brand can include areas of improvement to increase its business. A
brand's opportunities can lie in geographic expansion, product improvements, better
communication etc. Following are the opportunities in Myntra SWOT Analysis:

1. Selling private labels can increase their margin


2.Partmership with celebrity designers, bollywood movies can increase its fashion appeal.
3.Bridal collection to tap the big wedding market in India

4. Expansion into global markets can boost business

Myntra Threats
The threats for any business can be factors which can negatively impact its business. Some
factors like increased competitor activity, changing government policies, alternate products or
services etc. can be threats. The threats in the SWOT Analysis of Myntra are as mentioned:

1.Global competitors like Amazon slowly making its foray

2. Fashion segment is becoming popular leading to increased competition

3. Economic fluctuations and unfavorable govt policies

4. Adding to its niche proposition is its app only business decision and closing website might
prevent it from capturing the growing online space.

Myntra Competitors

There are several brands in the market which are competing for the same set of customers.
Below are the top 4 competitors of Myntra:

1. Flipkart
2.

3. Amazon
4. YepMe

Hence this concludes the Myntra SWOT analysis.

Continue reading more about the brand/company.

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Myntra Business Model

Myntra is an e-commerce company of fashion and casual lifestyle items. It is headquartered


in Bengaluru, Karnataka, India. The company was founded in 2007 with the aim of selling
personalized gift items.
• A Brief History
• Further Growth
• Business Model of Myntra
o Value Proposition o
Key Resources o
Key Activities o
Key Partners o
Key Channels o
Customer
Relationship o
Customer
Segmentation o Cost
Structure
• Marketing Strategy of Myntra
• Competitive Strategy of Myntra
• Revenue Model of Myntra •
Summary
A Brief History
It was started in 2007 by Mukesh Bansal, Ashutosh Lawania, and Vineet Saxena.

In its introductory years, Myntra traded in on-demand personalization of gift items and
followed the B2B model. B2B transaction refers to trade among wholesalers, retailers, and
other business groups only. Following is the graph of Myntra in its initial years.

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In 2010, it started web retailing of clothes. In the same period, it also started trade in
customised items. In 2014, Myntra converged with Flipkart to give competition to Amazon
that had entered the Indian market in 2013. In this period Myntra started selling over 1000
brands to over 9000 pin codes of India.

Further Growth
In 2015, Myntra shut down its website and operated through the application only. But
because of this business model suffered a loss of 10%, it revived its website also. The further
growth of Myntra can be seen from the below-drawn chart.

In 2016, it also paired up with the Ministry of textiles to promote handloom industry. Myntra
has bought various small companies to extend its reach and to improve its logistics and
technological work. Myntra has partnered with over 3,000 fashion and lifestyle brands
including Nike, Adidas, Diesel, CAT, Harley Davidson, Ferrari, Timberland, and others.

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Business Model of Myntra

Myntra FY22 revenue breakdown- StartupTalky

The major source of revenue for Myntra is Market place and logistics. It generates income from
a fixed commission of 4% - 5% which it charges depending on the category and the brand of
the product. Myntra - Growth and Revenue

05 December 2022- Myntra reports a 60% jump in demand for international brands.

27th September 2021 - Myntra has now increased its fulfillment centers to five, in cities such as
Binola, Bilaspur, Bhiwandi, Bengaluru, and Kolkata. The company is working on
strengthening its supply chain network because of its festival season sale. This will enhance
capacity for higher storage volumes and optimize last-mile deliveries since the company was
expecting over 5.5 million unique customers during its upcoming Big Fashion Festival, which
is a 1.8X increase in traffic compared to the previous edition

9th July 2021 - India's largest online fashion store Myntra claimed to have recorded 220 million
traffic sessions during the six-day event, at 4 times growth over business as usual, while the
Myntra customer base grew with 15 million first-time visitors coming to the platform.

"EORS-14 witnessed approximately 60% growth in demand over the June'20 edition," Myntra
CEO Amar Nagaram said in a statement.

Myntra has become India's fashion expert that serves millions of customers, with 2000+ world's
top fashion brands on the platform. They sell more than 200,000 items on the app on any given
day and have achieved approximately $500M in Gross Merchandise Volume in FY 2015 -
2016. The company recorded a Gross Merchandise Volume (GMV) of $800 million in January
2016, which is just a notch below its target $1 billion mark by FY16.

If we consider the footwear category only, we would have a wide array of varieties like shoes
for running, tennis, football, basketball, and fitness, along with casual footwear from
worldrenowned industry leaders like Nike, Puma, Converse, Adidas, Decathlon, Reebok, Lee
Cooper, Numero Uno, Skechers, Crocks, Asics, Fila, Lotto, ID and many more. The other

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fashion brands of Myntra are casual and include dressy footwear for women Catwalk, Carlton
London, Steve Madden, and RedTape.

Here's taking a look at some of the prominent growth highlights of the brand:
• Myntra is currently the biggest name in the fashion e-commerce market of India.
• The growth of Myntra is estimated to be 300% in the sector of lingerie and
loungewear segment amid the second wave of Covid-19.
• Myntra website has tied up with top fashion and lifestyle brands in India. The Myntra
exclusive brands are Nike, Adidas, Reebok, Puma, Asics, Lee, Lotto, Decathlon,
FIFA, John Miller, Indigo Nation, and more.
• Myntra offers an array of current season merchandise from Myntra fashion brands,
which include some of the best brands across multiple categories from clothing to
accessories.
• Myntra presently offers products from more than 500 Indian and international brands.
Myntra saw a 45.5% rise in its revenue, which rose from Rs 2891 crore in FY21 to Rs
4207 crore in FY22, as per the reports dated October 27, 2022. The company did not
manage to narrow its loss down to Rs 597 crore in FY22 from Rs 429 crore in FY21,
an increase of 39.2%. Myntra saw a rise on its expenditure front, which increased by
1.5X from Rs 2891 crore to Rs 4207.

October 2022- Myntra ends the Financial Year 2022 ending in March 2022 with a Rs. 597 cr loss
and Rs. 3610 cr in revenue of the total income of Rs. 4207 cr.

The business model of any company is the strategy it uses to gain a larger market space. The
chart describes the business model of Myntra in tabular form.

Let us discuss the business model of Myntra.

Value Proposition
Value proposition refers to distinct services a company provides that enables it to gain
commercial value. Myntra offers a wide selection of products. Other than that, Myntra uses
‘outbound logistics’ as a method of a value proposition. It means it uses a third-party courier

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service to reduce the lead time. It also has started ‘Alteration Service’ in 2019. It enables
Myntra to connect to its customers in offline mode also.

Key Resources
The human resource department plays an important role in the success of Myntra. It focuses
on the work-life balance of employees. Additionally, the supplier and wholesalers also are
some of the key resources. The staff that comprises delivery persons and IT personnel are
also an important resource.

Key Activities
Myntra envisages itself as a fashion portal. It serves as a platform for fashion content, trends,
and tips. Myntra has tied up with 3000 brands and offers a high-quality product. Along with
this, It also focuses on marketing and sale management.

Key Partners
Ever since it has been taken over by Flipkart, the partners of Myntra have increased. Its
partners are different brands that give their product to Myntra for listing. In 2019, Myntra
entered the luxury segment by partnering with Purple Style Labs- a luxury brand that sells
apparels up to 1.5 lakh. This helps in customer acquisition.

Key Channels
The flow-chart describes the key channels Myntra uses to operate.

The channels through which Myntra operates are its applications and website. It also operates
through affiliate programs.

Customer Relationship
Myntra operates through a self-service platform that is supported by 24/7 customer care
service. It has also decreased its shipping time from 48 hours to 24 hours. It ensures it
maintains a sound relationship with customers.

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Customer Segmentation

Myntra has a massive urban market, and it is very popular among discount lovers. Myntra
caters to fashion enthusiasts as it offers as many as 15000 products of one category. Myntra
also hosts “End of Reason Sale”, which gathers enormous crowd, according to Aman
Nagaram, the C.E.O of Myntra. Such sales and discounts also attract people from tier 2 and
tier 3 cities.

Cost Structure
Myntra spends most of the revenue in purchasing stock in trade. Additionally, Myntra spends
on technology up-gradation and infrastructure improvement. Other than that, it also has to
spend on warehouse management and advertisements. Salary to workforce comes under the
fixed cost of Myntra.

Marketing Strategy of Myntra

Myntra also ropes in celebrities, like Sonakshi Sinha to promote the brand. It started a show
called “fashion Influencer” in 2019 to market the brand more extensively. Other than that,
Myntra also uses social media platforms, like Facebook and Instagram, to promote its sale
season. In its End of Reason Sale (EORS) 2019, Myntra sold 1.77 lakh items within the first
10 minutes of the sale going live. Over 3.3 million products were sold on day one.

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Competitive Strategy of Myntra

Myntra’s top competitors include Yepme, Amazon, LimeRoad, Snapdeal, Voonik, Zopper,
HSN, GoRootz, Fynd and Flipkart. The competitive advantage of e-commerce companies is
mainly because of cost leadership or product differentiation. With Myntra, it is because of
cost leadership. However, before 2010, Myntra also had gained market space in product
differentiation by providing customised t-shirts and mugs. For instance, during IPL, Myntra
provides t-shirts with a person’s name printed on it.

Revenue Model of Myntra

Myntra earns through an aggregator model. It buys current season merchandise from various
brands and makes the product available on its website. It earns through commission. The
revenue model of Myntra is that of B2C (Business to customer) now.

Summary

Myntra has become a worth competing fashion e-commerce company because of its unique
business model and attractive discount offers. Myntra also keeps on revising its business
strategies with exigencies of time. It started with the B2B model and shifted to the B2C
model. Thus Myntra offers good competition to e-commerce companies, especially in the
apparels sector.

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5. OBJECTIVE OF THE STUDY
The goal of any marketing strategy is to help a company make more money. But this target is
rather complex, since it depends on achieving smaller, more specific subgoals. Let’s have a
look at the most common objectives of digital marketing, and how these lead to business
growth.

1. Improve conversion rates


One of the most popular objectives of internet marketing is the growth of conversion rates. In
short, the main focus lies on turning a higher percentage of visitors into paid customers.

In order to measure progress, companies will need to understand where they currently stand.
This can be done by measuring the conversion rate of their physical and/or ecommerce stores:

• Physical retail stores may need to install a counter and the stores entrance to get an
approximate count of the customers that visit the store. Then, they can divide the total
with the amount of sales that were made.
• E-commerce stores will usually have an analytics section in the backend to keep track
of your store’s process. Shopify, for example, has a very handy overview.

For reference, the average conversion rates in the retail industry are:

• ±2% for e-commerce stores


• ±22,5% for brick-and-mortar stores

If your numbers score below this , you might want to explore what is causing the issues and
adjust your efforts to address the issue. Here are some common ways companies use to
achieve this:

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• Improving the customer experience through personalized offers.
• Adding elements of scarcity (e.g. limited-time discount codes).
• Improving their SERP presentation (Improve META data through SEO efforts).
• Minimizing the amount of effort a customer needs to take in order to find and
purchase an item.

Overall, increasing conversion rates requires you to continuously remove obstacles and
increase incentives.

2. Increase repeat purchases


Many marketing strategies focus on increasing their customers’ lifetime value, by growing
their purchase frequency. Not only are customer retention strategies 5 times cheaper than
acquisition plans, they are also more efficient when it comes to long term loyalty.

This is especially true for companies with high acquisition costs. An increase in repeat
purchases grows the total value of a customer, making the high costs of acquisition
acceptable.

To determine whether your company should pursue this objective, start by defining your
customers’ lifetime value (CLV). This can easily be done on Excel, and the following video
explains the process in detail:

Once the number is established, you can take the necessary steps to adjust your offer. This is
done through a number of different ways, the most popular of which are:

• Introducing loyalty programs. These do not only lead to repeat purchases but also lead
to improved engagement with your audience.
• Adding subscription-based purchases. A trend that became popular through digital
services is slowly expanding into the world of retail.
• Cross-selling and/or up-selling relevant products at checkout to increase total cart
value.

• Increasing the potential applications of a single product (e.g. 2-in-1 body wash for
men). When you give consumers more reasons to buy a product, they will most likely
do so.

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3. Increase qualified traffic
Newer brands will often focus on growing traffic numbers. This is done to increase awareness
and introduce the target audience to your product(s). It is also a great way to test demand for
a particular offer, and grow your email marketing list.

Generally speaking, there are three segments of traffic you can focus on:

• Paid traffic - This is usually bottom funnel traffic that is generated through
advertisements on social media channels and Google. While the visitors are highly
qualified, companies will need to keep paying money if they wish to maintain a
consistent stream of traffic. It is an excellent way to start getting leads instantly, but
comes at a higher cost.
• Organic traffic - All visitors that find your website in a non-paid manner. This is
highly related to your SEO efforts, social media and email marketing traffic, referral
traffic, etc. Overall, organic traffic is more diverse and long-term oriented compared
to its paid alternative.
• Foot traffic - Real-life visitors that visit your store as a result of internet marketing.
Here, some tools work better than others, with email marketing and social media
taking the first place.

Even though these traffic sources are not the same, they are often interrelated. For example,
in your efforts to increase organic traffic, you could focus on Local SEO. Apart from driving
more people to your website, this could also lead to increased foot traffic in your physical
store.

To start the process of attracting qualified traffic, a company should focus on understanding
their audience and target all their segments through personalized offers, written content, and
community building.

4. Increase revenue
The fourth objective in this list is the one that indirectly includes all the above. Increasing
sales is the underlying, long-term goal of every growth strategy. All the previouslymentioned
objectives can be seen as subgoals.

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Increasing revenue is a “high-level” objective, meaning that it derives from achieving smaller
marketing objectives over a longer period of time (e.g. annual).

• A revenue target is set by looking at historical patterns and their effectiveness in the
past. For example, you may have data suggesting that a particular type of marketing
campaign led to an increase of 15% in MoM revenue over a 12-month period.
• You can use this information to set a more ambitious goal (e.g. 20% revenue increase
in 12 months).
• Having set your goal, you will then list all the smaller objectives and measure results
in smaller timeframes (e.g. monthly or quarterly).
• Based on the results of smaller timeframes, you will be able to tweak the strategy,
stay on track with your long-term goals, and improve upon the previous marketing
efforts.

5.Build a brand
Internet marketing objectives often include building a brand. This means not only establishing
your logo and company name in the minds of consumers, but also what your company stands
for.
Well-known brands are typically trusted more by customers, especially when paired with
positive associations. The Internet is a great tool for building that trust, because it has a wide
reach and allows you to directly connect with individuals.

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Social media is particularly useful when building a brand, because it allows companies to
create and post with a more personal feel. Organizations have discovered that this kind of
brand-building can be fostered by the use of social media channels such as Facebook, Twitter,
Instagram and Pinterest. In addition to organic posts on these sites, companies can build
brand recognition by paying for advertisements and placements. This takes patience on the
part of the organizational leaders, because trust and loyalty are developed over many months,
and sometimes years. The key is to stay focused on the results.

6.Improve local SEO

Many small businesses, as well as companies focused on increasing sales in a specific


geographic region, focus much of their marketing efforts on improving their local SEO. This
means optimizing various elements on their sites in order to attract local customers who are
looking for the services they provide.

Although the number of searches that include both your industry and your town or city is

undoubtedly lower than those that just specify a product or business type, those searches

tend to generate much more qualified traffic. If a user is already looking for businesses

where you are, chances are high that they’ll be willing to come to your physical location.

Learn why WebFX is the best SEO company for the job.

7. Manage online reputation

In an age when anyone with a computer or smartphone can post their opinions about
companies, products, and services for the whole world to see, it’s important for businesses to
maintain a solid online reputation. This means monitoring your company’s name, maintaining
social profiles, and responding to bad reviews accordingly.

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One bad review doesn’t mean that your company’s reputation is shot, but one bad reaction to
a bad review might. The way you publicly respond to customer complaints will show them
(and all other current and potential customers) how much you care about their opinions. But
as intimidating as that may sound, all it takes is a bit of respect and concern for your customer
base.

For some companies who’ve already made errors in this department, their objective is simply
to remove any negative associations with their company and show customers that they’ve
seen the errors of their ways. Though the improvements won’t happen overnight, and bad
online PR can be difficult to get rid of, the Internet is a solid tool for repairing damaged
reputations.
8.Become an influencer in your field
Every industry has a few well-known individuals or companies that others look to as thought
leaders. They stay at the forefront of new technologies and ideas, and are often the first to
share new information.

Unfortunately, every industry only has a particular amount of room at the top. The people
who become experts and influencers are those who strategically position themselves to give
out great advice and information, often without much obvious monetary gain.

For instance, an influential company might write and share blog posts and articles on a regular
basis. Their CEO and other top employees might keep their LinkedIn and other social profiles
up to date and share them as well. The company might offer free webinars on up-andcoming

23
industry news. All of these efforts combined can position them as an expert not only in the
eyes of other industry professionals, but also in the eyes of potential clients.

6.RESEARCH METHODOLOGY

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This research concentrates on collecting and thereby analyzing the collected data systems to re
solve problems that are selected by the researcher. In a way, this research has got wider
meanings. For some people reading books or surfing the internet for information is research.
As a matter of fact these activities are just some part of the entire job. Basic research
structures are related to the sense of collecting authentic and original data and in the same way
analyzing these data thoroughly as well methodically to derive the result that lay underneath.
Here, data does not necessary mean any numerical. Words too are data.

The function of marketing research is to connect the target consumer to the seller or the
marketers. The modes of this connectivity are through information that is specifically used for
the purpose of to identifying and relevantly defining the aspects of marketing. Elements of
generating refined modes of marketing action; dealings with opportunities and problems,
monitoring the recent and past marketing performance; and above all improving marketing as
a process are integral to it. Marketing research uses the sources of information to address
selective issues; like those of designs that helps in collection information and thereby
implements and manages entire data collection process. It further analyses the results along
with the communication for deriving the findings and their ways of implication. (Yin, 2003)

The process of study adopted by this research illustrated here. Factors like, research objective,
research plan, methodology of research, compilation of data, assessment of data and quality
standards are focused in the entire process. The figure under the sketch is the approach of the
chapter and thereby has been depicted predominantly. (Allen, 2008)

Stages of Research
The four main stages followed in a research are:

Problem-It is the first stage that decides the topic. There are five steps in it. This are- Topic
selection, Problem Definition, Literature Review, Hypothesis Formation and Methodology.

Data Collection-it is the second stage and decides the research methods followed by the
techniques for collecting information. It has got three steps: Definition of Sample, Sampling
and Data Collection.

Data Analysis- this is the third stage where the collected data are analysed, in order to find
a solution to the problem. It has got two steps: Organisation of Information and Analysis of
results.

Action- it is the final stage and is the stage where the derived result, information and findings
are utilized. It is inclusive of Report writing, Distributing Information and accomplishing
result into action.

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7.LITERATURE REVIEW
Marketers have long accepted that success in the competitive markets
requires the identification of competitive advantages which are capable for
distinguishing an organization from others operating in the same market
sector. Although competence-based marketing strategy has not been
explained and discussed enough in the literature, we discussed some of the
Internet marketing strategy and then develop a competence-based marketing
strategy for Internet markets.
The characteristics of virtual markets reduces costs of information processing, allows
for profound changes in the ways through which companies operate, and in how
economic exchanges are structured. They also open new opportunities for value and
wealth creation. Then marketing strategies in these markets need to be different and in
new type. Many of authors have discussed Internet marketing strategies
based on 4Ps framework but we think that marketing strategy is
beyond 4Ps.
In the virtual markets, information can fundamentally influence the
dimensions of competitive advantage in terms of efficiency and effectiveness.
It concentrates on examining the achievement of advantages for physical
outputs in terms of effectiveness, and then the market space offers
improvement potentials, in two ways.
- Increase in effectiveness through the acquisition of information.
- Increase in effectiveness through the transfer of information. Internet marketing entails
using the Internet to provide information, to communicate and to conduct transactions.
The Internet is a ubiquitous information platform, allowing internal and external
customers to reduce costs for both firms and customers. Therefore, the companies can act
as topical-leaders or speed-leaders in the market space. Argued that for achieving overall
growth for the company, we could set online marketing strategies in five categories: - To
attract
- To engage
- To retain
- To learn
- To relate
In the new competitive environment, it is increasingly evident that successful
marketing strategies are based on an amalgam of three critical elements.
These elements include:
- Creation of consumer franchise: whereby end-users are attracted to the product/service
because of perceived superior offers.
- Strong customer franchise: where intermediaries want to do business with us because of a
tangible economic benefits.
- Under-pinning supply chain effectiveness: that delivers superior service at less cost.
Figure 1 summarizes the three source of marketing advantage through marketing
strategies.

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Internet marketing strategies has been divided into five categories - Entry
strategies
- Experimental strategies
- Assortment of incremental strategies
- Consolidation strategies
- Consumer franchise
- Brand value
- Corporate image
- Benefit focused
Customer franchise
- Cost of ownership
- Value adding relationship
- Service quality focus
- Marketing
- Advantages
- Supply chain effectiveness
- Network management
- Quick response
- Low cost supplier

Figure 2: Evolutionary Internet Marketing Strategies for Biotechnology


Companies

In an effort to clarify and reconcile the various views and streams of


marketing, developed a classification scheme based on a synthesis of both
European and North American schools of thought in marketing, across the
service, interaction, channels, and network streams of research. From this, two
general marketing perspectives were identified encompassing four distinct
types of marketing.
1. Transitional marketing 2.
Relationship marketing: a.
Database marketing
b. Interaction marketing
c. Network marketing
Added technological ship marketing to this perspective and argued that in
technological ship marketing customers are considered more individually and
products are customer defined and customer specific. In this perspective
marketing rules continually evolve, driven by technology and market is borderless
by default.
Some of authors argued and explained one-to-one marketing strategy in the
Internet markets.

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One2one marketing strategy seems to be necessary to [a] identify customers; [b]
differentiate customers; [c] interact with customers; and [d] personalize
products or services to tailor-suit customers.
Personalization, customization and recommendation systems are very important in one-toone
marketing strategy.
From company’s point of view, it is decisive to be able to offer and transfer better
information to customers, because this ability can result in
obtaining more and better information about customers than competitors. According to this
is the co-sharing dimension of information. The term of co-sharing involves information
competency and information sharing. Information competency can be regarded as the ways
that companies process and manage Information they have gained. If companies cannot be
able to manage information system well, they will only get meaningless and disorganized
data and information which are not applicable for company’s decision making and action
taking. Information sharing is defined as "formal and informal sharing of meaningful and
timely information intra and inter firms". The Information obtained can assist companies to
understand customer's need, wants and desire precisely.
Information Technology (IT) has allowed sellers to tailor “mass- customized”
propositions to individual customer through continuous cycle of dialogues
with the customers. As marketers learn more about their customers, they can
use this information to create and propose more value for customers; attract
them to buy the offered products, increase customers’ loyalty, and make long
run, interactive and beneficial relationships. By this way of thinking and
acting, it is expected of companies to protect and enhance their own market
share in the intensively competitive cyber markets. Companies to achieve
information competency should create intellectual marketing strategies. The
body of marketing knowledge is continually evolving. Companies can create
marketing knowledge through intelligence toward their competitive markets.
Having intellectual competency, a company can gather useful information
from customers, competitors and market then it can formulate an effective
marketing strategy. Intelligent marketing is a process of knowing what the
competitors are up to and staying one step ahead of them, by gathering
actionable information about the competitors and ideally, applying it to short
and long-term strategic planning.
One of most important sources for information gathering is customer knowledge that
companies should manage it for achieving to core competency. Customer knowledge is
an important asset for all businesses. The data collected at the customer interface can be
translated into business intelligence and customer knowledge. Companies can use the
Internet to do this, because the Internet's core advantage lies in its great capacity of fast,
efficient, integrated, and interactive exchange of information .With an increase in usage of
the Internet, customer will take an increasing role in the fulfilment process, leading to
“co-creation” process. Co-creation involves both customers and marketers interacting in
aspects of design, production, and consumption of the product or service. Co-creation which
require applying IT intensively, is a
strategic process based on the philosophy reverse marketing. According to
reverse marketing, Internet changes the focus of marketing from a "supplier
perspective" to a "customer perspective". For example, in reverse marketing
price is not a function of cost but cost is a function of price. In other word, first

28
customers determine their price and then company should try to produce that at a
desired price, so they should use price-based costing not cost-based pricing.

Model development

Internet realizes two principle characteristics: timely, vast and fast information
exchanges; and borderless, effective and long run interactions and ties. An
enterprise based on these characteristics, can create two types of competencies
through applying Internet: informational and relational competencies.
Relational competency: refers to the use of Internet technology for
establishing, maintaining, and managing customer relationship. This
competency can be gained by long-rang relationship, customer loyalty,
branding, customer relationship management (CRM) and so on. The
importance of such relationships to the practice of marketing is evidenced in
the emergence of “relationship marketing” as a dominant focus of both
marketing theorists and practitioners. Because these relational assets are based
on factors such as trust and reputation, the potential exists for any
organization to develop intimate relations with customers to the point that
they may be relatively rare and difficult for rivals to replicate. Relational
resources tend to be intangible, hard to measure and therefore not nurtured.
They are external to the firm, often merely “available” to a firm, and not
“owned.”
Informational competency: refers to application of Internet for gathering
information about customer's behavior, building customer profile and
database, and managing customer knowledge. Informational competency is
a type of knowledge that a firm acquires when it is intelligent toward its
competitive environment. Firms have a major strategic and informational
problem (and opportunity) facing of marketplace heterogeneities in demand
(customer preferences) and product supply. Such opportunism is aided by
market orientation which advocates systematic acquisition, dissemination,
and use of information to guide strategy development and implementation.
At a minimum, business strategy involves identifying and selecting market
segments, developing appropriate offerings and assembling the resources
required to produce and deliver the offerings. This in turn requires that
organizations increasingly invest considerable time, energy and money to
create deep and insightful customer knowledge.
Based on the degree of having of these two competencies (currently or in
the future), an enterprise can select and formulate its Internet marketing
strategies. As figure 3 shows, we classified these strategies into five
categories:
• Transactional
• Profile-based
• Relational
• Knowledge-based
• Customer-oriented
• Relational

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• Competence
• Relational Strategies
• Knowledge-based
• Strategies
• Customer-oriented
• High

Figure 3: Marketing Strategies in the Internet Markets


Transactional strategies
Having this category of strategies, a company uses Internet and
Information Technology tools to reduce cost or improve product quality.
Therefore, this kind of strategies covers porter's generic strategies [cost leadership
and differentiation].

Relational strategies
In this quadrant, a company tries to use Internet to achieve a relational
competency. Based on this type of e-competency, a company will be able to make
a long-range mutual and beneficial relationship with its customers.

Profile- based strategies


Many of companies use some e-tools such as data mining, cookies, etc for
creating a profile for customers. They use customer profiles to conduct
marketing activities flexibly and response to customer needs and satisfy them
effectively.

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8.LIMITATIONS
1. Online Marketing is not free as the cost of hardware, software, website design, online
distribution costs, maintenance, hosting of website and yes time, all should be factored into
the cost of providing your product and service.
2. Still, the internet is considered as a source of information gathering for the majority of your
customers. Many people are there who still prefer the live interaction when they buy. This
may deter customers from buying if you have a small business with one location.
3. Over 50% of households shop online and this number is continued to grow, you are
reaching less than two out of three households.
4. So many scams on the internet.

5. Timing of updates is critical, so it’s easy to have outdated information on your site.

6. Is your website safe? Because of the fear of the website’s security, many of the visitors will
not want to use their credit card to make a purchase if they don’t know that your site is
secure.
7. No replacement is there for good old-fashioned customer service. The majority of online
marketers lack inquiry response programs and customer service. Therefore, your many
online visitors will already have painted your website as poor service before contacted you.
Also, the majority of sites have poor navigation that makes it tough for the visitor to find
what they are looking for. Many sites were created without a customer service point of
view.
8. A lot of competition for your product already out there. When your visitor finds you, then it
means they have been checked many links already. Until and unless they can find what
they are looking for quickly, they are gone.

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9.SUGGESTION
1.) Having a Better Product/Service, USP & Using Right Web Design

Role of usp in internet marketing strategies


Having a better quality product or service is always mightier than a marketing campaign to
ensure long-term profitable results. This rule has assembled more fortunes than some other
marketing tactics, which is the reason I recorded it as #1 in the list of best internet marketing
strategies. An unrivaled, superior quality product gives the best outcomes in internet
marketing campaigns because- if it is not in your product, it won’t be in the advertising either.
At the end of the day, if your item is not superior to the opposition’s your marketing can’t
sincerely create a long lasting impact. The better your item, the more convincing your
promotions can be, and the greater your internet marketing achievements will be.
1. One approach to position your item as being superior is to make it one of a kind and
fill the void that your market needs with a Unique Selling Proposition (USP). By using
USP, and abridging the supply-demand gap, you can ensure better success for your
brand.
2. Having right website design is considered as basics of best e marketing strategies, but
frequently, we don’t consider website design as an internet strategy marketing. Right
Web Design can affect the amount of ‘time and consideration’; a client will spend on
your page.

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3. Your site is the focal point of all your internet marketing endeavors, so if your page is
not spotless, simple to peruse, and interesting, it won’t make any difference how much
time you put into technique advancement – regardless will lose clients. That’s why
design a site that is up-to-date, engaging, responsive, robust & mobile friendly.
2.) Effective Use of Search Engine Optimization i.e. SEO

Role of seo in internet marketing strategies


Search Engine Optimization lets your name and site to show up on a list of Search Engine
Result Pages (SERPs). With a solid SEO technique, your site will get to be related with the
keywords used to find out your kinds of products and services. 88+ percentage of all the
internet clients search for sites, items and administrations by utilizing search engines.
Roughly, 90% of the clicks are on the top 3 positioned sites (not the paid postings). In
addition, the top ranking sites are viewed as “more dependable” and there are no pay per-click
charges included which implies heaps of low-cost high-value traffic for your site and all this
can be effectively done by using effective SEO services.

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1. Ensure your site is positioned noticeably for keyword phrases related to products and
services associated with your brand with a viable Search Engine Optimization (SEO)
campaigns.
2. To ensure effective SEO for your business, you need to optimize your web pages with
keywords in the Meta tags, page titles, headlines, URLs and content.
3. Linking your website pages to each other by utilizing keyword phrases is another SEO
strategy, rated quite high amongst best internet marketing strategies
4. You should also acquire keyword optimized inbound connections from industry
authority sites that indicate to your site to ensure effective optimization of your website.
This is one of the important website marketing strategies.
3.) Use Email Marketing by utilizing an Opt-in Email List & Newsletter

It isn’t sufficient to simply send out emails to prospects. You will need to consider different
email lists and web marketing strategies that take into account the particular needs of every
person and can incorporate a customized way to channelize your email marketing campaigns.
Investigate the buying propensities of your clients and utilize that data to build up your email
marketing procedure by using email marketing automation tools.
An opt-in email list permits clients to come to you and sign-up to be a part of email
campaigns and related correspondences. This permits you to interface with new clients or
customers.
1. Sending email newsletters is an effective approach to keep in contact with your clients
all the time. By remaining on their “radar,” the chances are that they will consider you
first, whenever they require an item or administration you offer. Truth be told, a
quality Email Newsletter is likely THE best customer retention tool accessible, and it
costs next-to-no to utilize it effectively. Besides, it can likewise be a viable Customer
Acquisition Program if you utilize it accurately.
2. An Email Newsletter is not just another idea, it is basically an enlightening letter sent
to subscribers by means of email or print. Obviously, newsletter must have valuable
substance, content and data that are valued by your database of prospects.
3. Thus, after every couple of weeks, sending an informative email newsletter to your
subscribers by including accommodating articles and tips, news, free stuff and

34
exceptional offers in your newsletter will for sure aid you by being one of the most
powerful and conversion-oriented internet marketing strategies.
4.) Effective use of Conversion Rate Optimization Strategy
The best internet-marketing specialists know what their market is and how to make
convincing offer to them. They comprehend- Who their clients are, Which normal needs and
objectives they have and the psyche of Why they purchase. They utilize this data to enhance
their advertising and let their business site “talk” to their prospects and give them what they
need. Conversion rate optimization helps marketers do this in the most efficient manner. It
helps them generate more number of leads and hence it is considered as one of the most
effective internet marketing strategies.

1. You can utilize “Conversion Rate Optimization” (CRO) in your internet marketing
strategy to ensure better results and more conversions. CRO is the way towards
making your site more reliable and simpler to explore, so that a greater number of site-
visitors can find what they’re searching for on your site.
2. CRO is the quickest and least demanding technique for expanding leads and deals,
produced from your site. In addition, it’s the most ideal approach to essentially build
your leads and deals without spending a bunch of cash for increasing your website’s
traffic.

3. It’s the initial step that ought to be taken before expanding your focus on movement.
You can use some of the best CRO TOOLS to let your site complete desired action
and increase sales.
5.) Provide free Content, Tools & Resources that help your target audiences
Having an effective content marketing strategy and giving free content, informative resources
and intelligent tools on your site to pull in your objective market is an incredible procedure for
expanding your deals and leads. The more intelligent your site is, the more probable is that
your guests will get fulfillment from it and utilize it as an asset.
For instance, Andy King at WebsiteOptimization.com offers the free “Web Page
Analyzer” tool that breaks down the performance of site pages and gives best
recommendations for development.

35
1. This free internet-marketing tool is genuinely useful to website admins and gets more than
2.4 times as much traffic as the landing page, which lets it be considered as one of the best
internet marketing strategies examples.
2. This free tool produces a bigger number of leads than whatever other page on Andy

King’s site.
3. Thus, consider including content, a dialog discussion, sound and video documents, or
even accommodating online tools for your guests. These innovations can be utilized to
draw in your site-guests in real time and inspire them to take activities that prompt to
more conversions.
6.) Ensure Targeted Advertising through PPC

Ppc targeting

“Pay-Per-Click” (PPC) advertising is considered as one of the most influential internet


marketing strategies that ensure well-targeted advertising. PPC permits you to put your
promotions straightforwardly before elusive prospects at the correct time when they’re

36
scanning for your kind of services or products. No other type of internet marketing strategy
can do this for you as effectively as PPC does. Within an hr of setup, you can launch your
PPC campaign on Google Adwords and can see the related results in quickest possible time.
PPC additionally gives you more control over your internet marketing campaigns that let you
promote your landing pages in best-targeted manner possible.
1. PPC helps you send more targeted messages to your visitors at right time when they are
scanning for your kinds of product and services.
2. Obviously, with PPC you need to pay per click so there are promotional costs included.

3. Luckily, for you, Google AdWords permits you to utilize “Conversion Tracking” tools
to see precisely which keyword phrases are converting prospects and ensuring profits so
you can streamline your internet marketing strategy and website accordingly to ensure
outcomes that are more productive.

4. PPC can and ought to be an essential piece of your business’ sales producing marketing
arsenal

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10. CONCLUSION

The study started with the aim to analyse the different issues related to the study started with
the aim to analyse the different issues related to the digital marketing. Based on the discussion
it has been found that in case of the digital marketing the most important aspect is to connect
with the users. The ladder of engagement has shown the approaches to attach with the
customers. The study has also revealed that in order to utilise the digital marketing in an
effective way, the companies are required to design an effective platform. With the example
of Pinterest the effectiveness of a social media platform has been discussed. The current
trends in the digital marketing have also been discussed in the study. It has shown that in the
current context, it has become important to integrate all the systems with that of the digital
platform. The transition of newspaper from the printed version to the online version has been
exemplified the current trends of the digitalisation

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