This course examines how to compete in the global electronic marketplace with an enduring product or service. Students learn how to scan the competitive environment and develop a viable marketing mix that is globally competitive. Students will investigate a wide range of related topics including:
- Environmental analysis of the marketplace
- Market segmentation and target markets
- Market mix adaptations—product, price, and placement
- Implementation and measurement of strategic goals
The course project is an Integrated e-Marketing Plan: Developing an e-Marketing Plan for Competing in the Electronic Global Marketplace. Students will develop the elements of a competitive e-marketing plan that combines an environmental analysis with a solid marketing mix of product, pricing, placement, and promotional variables.
Course Learning Objectives
- Explain the impact of the dynamic technological, cultural, and competitive factors of the e-global marketplace and how they create opportunities and threats for firms.
- Conduct an environmental analysis of the political, social, economic, and technological factors in the global marketplace that define the environment in which an e-business firm operates.
- Conduct a SWOT analysis to identify potential and critical issues affecting the marketing of an e-business firm.
- Determine the most efficient way to segment the market and identify the strategies for targeting the chosen market segments.
- Establish the placement strategy for the e-business.
- Define the supply chain, logistics of delivery, and infrastructure required to support the e-business.
- Define the product offering of the e-Business, including product mix, branding, and features, and determine the initial pricing structure and subsequent discounts.
- Develop the IMC for the e-business, including advertising, promotions, blogging, and viral marketing.
- Design the e-business implementation plan for both the short and long term.
- Develop a system for evaluating and monitoring the e-marketing plan for the global electronic marketplace.
- Complete a basic competitive marketing plan for a business competing in the global e-marketplace.