Exploiting Consumer Markets
Organizations exploit consumer markets using the Internet by making it the bridge to their products. Many businesses own a website or some type of webpage that they identify with their business. They have made the Internet work for them in this situation. There are over a million consumers that surf the web everyday. They are in hopes of finding merchandise that is either not in the store or that may be cheaper online. Organizations want to offer these buyers discounts, coupons, and first-time buyer deals for visiting their online store. This is the beginning of a business relationship that could grow into long term profit for many companies.
Although the Internet is a large organization, it contains valuable resource for many institutes to get their name “on the street” locally and abroad to say the least. Word of mouth is no longer the best way to advertise anymore. Now a business needs to have a Home-Page. Several have also benefited from adding a catalog of their merchandise on their site so that consumers can get an idea of what their purchase will exactly look like. They want the customers experience to be as personal as possible without leaving their computer. Just because they are not in the store with the salesperson does not mean they shouldn’t get quality service.
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Business owners should seek the feedback of their visitor whether they made a purchase or not. This will familiarize them with the surfing patterns of potential consumers. They have made the Internet become the road to reach much merchandise that was out of hand of a lot of consumers. For example, EBay has become one of the world’s most popular auction sites. They not only hold auctions but they also have sellers to open a store which mocks the traditional store but of course it is online. The buyer can browse through hundreds of items all at the click of a finger.
They can view and read descriptions. The only downfall to the online shopping experience is it is similar to catalog shopping, the consumer can’t feel the product. This is the advantage that real stores have over virtual ones. But to weigh the disadvantages out, a virtual shopping experience has convenience. Nothing has yet to beat that. Organizations realize that everyone does not shop online but many do. In order to catch those consumers that are just browsing by then have to first offer them an eye catching experience. They need to get them interested in their site to start with.
(Hall) After they get them in they assume most consumers can find something that they want to buy. A consumer has been labeled as prone to spending more the longer they shop, whether they have intentions to or not. These same companies hope that by offering such promotions such as BOGO that they will reap larger benefits when purchases are made. There are many corporations and small businesses that compete for business. The consumer market expands from electronics to pharmaceuticals. If there is a market for something to sell then the internet is the place to advertise it.
Organizations have to stand behind what they say. If a company tells people that they are environmental friendly then they need to recycle. No one would believe that they are true to their word if they did otherwise. Research companies have used search engines to locate information that pertains to many companies and business. They will then put this information into a report to sell. Many companies consider this research a beneficial part of their selling power. They want to know what their options with using the Internet’s resources are. They also want to know what their competitors are up to.
In order to stay ahead you have to know who else is in the race. By keeping up-to-date with news, technology and competition a striving organization will only grow. Their main concern in any situation is their profit. A company is in business to make money; bottom line. There is no other way of making a profit except to bring in more than you put out. Wal-Mart is a large corporation and recently they dissolved their lay-a-way program. They wanted to continue to offer everyday low prices to their customer but they were taking a lost in this department.
The Managers in charge of that department decided that 2006 would be their last year offering the service and put out a news briefing it to customer. They explained that they would continue with all their other services including Wal-Mart. com. The closing of the internet did in fact disappoint some customers but in turn it boosts their online sales. The logic in this is those customers no longer have to shop in the store for anything. If the product is not available online at their website then the customer can order that particular item. In the worse case scenario, they have to go to the store.
That results in an instant purchase. More than likely they will buy more. Wal-Mart is a retail giant that gives customers their best. They want to continue to offer competitive prices without having to make the customer suffer from a price increase. Again, having both a physical location and a website enables them to attract consumers far and wide. Organizations continue to find new ways of using the internet to sale their items everyday. They have not only created stores and websites but they have also used things such as Yahoo, Google, and AskJeeves to list their sites.
These resources are what we call search engines. (Wong) People that are not sure where to look go to these sites and type in what they are generally looking for. They then are given many options to choose from under their topic. If a consumer is looking for gloves in a search engine then they may be given links to department stores. They may also be direct links to stores that sell gloves only. There is no limit. They could be given information on books containing this topic as well. Organizations also utilize the popular pop-ups to connect consumers with their site.
These handy items will actually pop up onto a screen when visiting certain sites. If the consumer clicks them then they will be redirected to the organizations site. Also, the uses of banners have been growing over the years. Banners allow a company to put their name or logo on a single band that links from the listed page to their direct site. Banners are a business in itself as well as pop-ups. The organizations that provide those services charge other organizations for using them. Most companies hire someone to design their site.
They may be in-house or contracted employees. Most try to create a special design that will make people feel comfortable. One tool that makes organization more successful than others is the ease of their customer to browse their site. Considering that the first impression is the most important one, organizations have to be sure to design a user friendly site. If someone had a hard time around your site then it is less likely that they will make a purchase or future visits. Creating and maintaining a long term business relationship is the ultimate goal with organizations.
It doesn’t matter is they are profit or non-profit, they still want to have traffic to their site. This traffic will eventually turn into profit, donations or some form of benefits. What many business owners realize today about using the internet is that they ones that are making the purchase have the control. No one can survive in business without buyers. Organizations have to realize that the old ways of communicating services to consumers is no longer the only way. There is now a two way communication that allows consumers and businesses to talk back and forth. An example of this is the use of chat.
It allows the two to have a conversation over the web concerning merchandise or services. This is an instant access to connect the consumer with the sellers. They need to be able to communicate with each other quickly so that they can continue shopping. The last thing that an organization wants to do is take time away from the shopping experience. The consumer has to be included in the business plan. When seeking ideas and information about using the Internet organizations really wonder what they can do to attract more customers. They want to have the Internet work for them. (Merchant) It is open 24/7.
It never closes and neither will their store. It will do more of the work for them if they set the site up correctly. By including a convenient check-out options, around the clock customer service, and speedy problem resolution, there is no way an organization can fail with their website. People are online shopping because they want to buy something. When a business makes it easier for them to do so then they may buy even more. Consumers usually don’t imagine purchasing as much as they do. They actually think they will spend less. That is the image that companies wants them to have.
While in turn they offer them things like combined shipping and gift wrapping to entice to make the larger purchases. This is how a knowledgeable organization operates. Their success is not only dependent on the strategies that they use to capture consumers to their site; it is also the methods that they use to keep them coming back. Anyone can create a website but only a good one will benefit an organization’s image on the web. Maintaining their image is the key to setting the stage for growth.
Hall, Greg. (2007) If You Ignore the Internet for Your Business You Are Setting yourself Up For Failure.Retrieve October 19, 2007 http://www. thefreelibrary. com/If+You+Ignore+the+Internet+for+Your+Business+You+Are+Setting+Yourself… -a01073745649 Wong, Michael. (2007) Marketing Tools How to Find Out What Keywords Your Customers Are Searching With. Retrieved from Web October 20, 2007 http://www. mikes-marketing-tools. com/marketing-tips/keyword-targeting. html Merchant, Nilofer. (2007) Marketing Profs The New Rules of Internet Marketing. Retrieved from the Web October 21, 2007 http://www. marketingprofs. com/7/new-rules-internet-marketing-merchant. asp