Below is P3 and the evidence given is the analysis of the opportunities offered to
Business using internet marketing.
Internet Marketing offers many opportunities to businesses in relation to product
development in many ways.
Internet marketing is also known as online marketing where businesses are able to
advertise their goods and services via the internet and maybe present it worldwide.
It is the latest and speedy advertising strategies in today's business world. Internet
marketing covers, public relations, customer service, sales and information
management just like any other traditional marketing strategy.
Internet marketing is vital for some businesses such as those that are ONLY based
‘online’. Also is plays a really good role for them and also for other businesses as it
provides many opportunities in relation to product development.
One strategy of internet marketing that identifies product development
opportunities is that it allows immediate sales of products; this can include
banking, insurance policies. Etc. Benefiting to customers as they would not need to
‘waste’ time through waiting at queues; searching for items in crowds; looking for
prices etc. Also businesses would be able to gain more customers and enlarge their
product awareness etc. Businesses would be able to encourage more sales through
this as it includes other marketing strategy in one page of a website, or with few
clicks of a mouse for example when searching for a product before purchasing it
customers/individuals are able to view other formats of the product such as videos,
images, information etc.
ASOS as an online businesses product development is really important as it helps
gain a higher status and achieve customer targets; achieve business aims and
objectives as it helps give customers their needs and wants. ASOS gives their
customers the opportunity to purchase items from their website immediately and
This shows that
ASOS giver the
from their website
Another strategy used by internet marketing for product development is ‘Market
development’ this enables the ability to expand markets more cost-effectively.
Market development is a strategy of targeting non-buying customers in currently
targeted segments and it also targets new customers in new segments. When
businesses choose their targeted customers they market their goods/services that
will encourage those forward to gain sales. Organisation use internet marketing as
a way of advertising in many ways mentioned in the other post on this blog which
is also a way of product development. Products will not develop if there were no
marketing involved for them, which will mean no sales for businesses. This
strategy gives the opportunity to expand customer awareness of a product and
another advantage is that it is cost-effective; this is because the internet is based
worldwide which gives the opportunity to reach out to more range of people,
become accessible virtually anywhere in any country in the world by a potential
customer that has Internet access.
ASOS uses market development such as having a worldwide presence which
enables more customers; gain more different thoughts and opinions of a product
etc. Also it is an advantage to ASOS being an online business as this strategy as
mentioned before very cost-effective.
This is a print screen of the
ASOS website (www.asos.com)
Here it shows that they are
internationally and also their
domain consist consist of .com
which shows that it is known
Product development involves researching for ideas, opinions, trend; advertising
etc. Internet marketing enables businesses to do this as they allow much
information for research. Also businesses are able to use feedback blog, comments
page and so on as a way of communication b2c for ideas and opinions on a product
recently launched or about to which gives customers a way of satisfactory as it
involves them gaining more customers and awareness of a product and many ways
ASOS is connected with many social networking sites on the internet such as
Facebook, Twitter, MySpace and Bebo this allows ASOS to notice customers
needs and wants and their opinions on a product or service. This is a way of
product development as ASOS are able to change or add anything to a product
using feedback, ideas etc. Also ASOS uses emails as a way of internet marketing
giving better and more customer service.
This print screen is of
my facebook. It shows
that ASOS sends
time they update their
Internet marketing is available all the time meaning its operating 24/7 so that
individuals are able to view products and services any time of the day and week
and also businesses are able to allow customers to buy at any time.
ASOS is open 24/7; they also update their website regularly with new products etc.
Here it shows
that they have
which is set in
a hyperlink on
the top of the
drop down list.
Another information that identifies product development opportunities via internet
marketing is that it has very low entry cost for small businesses. It is very cheap to
set up a business online and advertise online as the internet is extremely different
from print advertising in that space is cheap. The advertisement can be accessible
easily via millions of people for a longer period of time. Also it is cheap as the
content can be changed without wasting any money. It is cost-effective just to
communicate between potential customer and a sales person.
The communication that they do here shown above is very cost-effective as its
based on their own website and it will cost them next to nothing just to reply back
This is one advantage that ASOS has as they are able to invest in more of their
products and services etc.
Internet marketing allows business to use a method called market diversification to
build product development. Organisations use this strategy to seek growth by
adding products and markets of kind unrelated to its existing products and markets.
Also for a business to develop a product they can use internet marketing to use the
method of virtual marketing as this a way of spreading information on product,
product feature, new services, sales and much more.
ASOS does this to get more attention for a product etc. They use customer details
who gave it to ASOS when signing up for ordering etc. This allows them to spread
widely very quickly.
Here is shows the page from ASOS website where customers can sign-up, after
signing up you can receive messages including the magazine, you can comment
and reply to comments etc
Other opportunities include possibilities of substitute online forms of products, e.g.
music, films, radio and T.V programmes, podcast etc.