Theories of Network (or Interactive) Marketing. What is Interactive Marketing? Is it perhaps... …selling over the Net? …advertising over the Net? …distributing.

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Presentation transcript:

Theories of Network (or Interactive) Marketing

What is Interactive Marketing? Is it perhaps... …selling over the Net? …advertising over the Net? …distributing over the Net? …producing using the Net? …others? What do you think?

My Definition: Power of Information Network Marketing is the Process of Building and Maintaining Customer Relationships Through Building and Maintaining Value- adding Electronic Product and Service Networks using the Power of Information.

Concepts of Networked Marketing Information as “Dematerialization” Coproduction Product Ecologies

Dematerialization: The informational mode of production Information management has been labor intensive, therefore high cost, high overhead. The IT revolution makes knowledge work productive through automation.

“network marketing” When messages are transported at network speed, and production is decentralized, the result is FLEXIBILITY!

Flexibility: Doing Networked Marketing Customization: Change segments on the fly—even make segments of one! Co-production: Bring in the customer Multi-channel solutions: real-time click and brick sales pitch. For each of these marketing innovations, find examples and evidence in the readings for this week. Where?

Link Concepts: What is the glue for the multi-channel retail system the multi-channel retail system Customization of segments Customization of segments And co-production? And co-production?

Ask yourself: In this brand new world of flexible marketing through co-production How does branding change? How does new product introduction change? How does new product development change? How does channel strategy change? How does promotion change? How does pricing strategy change?

Value Types Look at Value System to Discover New Business Opportunities Liberate Trapped Value Introduce New-to-the- World Value Create More Efficient Markets Enable Ease of Access Customize Offerings Extend Reach and Access Create More Efficient Systems Disrupt Current Pricing Power Build Community Enable Collaboration eBay craigslist monster.com Ofoto.com FedEx Carpoint.com Priceline.com MyYahoo Amazon personalized page Keen.com (Advertise yourself) MyFamily.com Epinions.com weboffice.com liberate trapped value introduce new-to-the-world value

So why do Network Marketing? Because the NEW NETWORK supports one or more of these efforts: Increase Market Share Improve Profitability Increase Product Cycle Times Enhance Customer Relationships E-Business

Can the Internet Help Innovate? Example: Carrier

Carrier: Smart Products carrier.comcarrier.com, totaline.com, hvacpartners.com, myappliance.com totaline.com hvacpartners.com myappliance.com Do We Need “Central Internet Air Conditioning”?

The Product: The Product: A Internet-Enabled Comfort Choice Thermostat What are the Benefits for Consumers? 1) Web-Enabled Micromanagement of Temperature. 2) Added-Value Through Cost Saving. And for Carrier? 1) Bundling Smart Services allows to Maintain Prices in Competitive Market. 2)Carrier, a B2B Company, is now VERY Close to the Customer (User Data). 3)Last but not Least: Image of Being Cutting-Edge

Does Carrier Make Anyone Else Happy? Yes, Long Island Power Authority... Get 45,000 customers into the Carrier program and it'll conserve the equivalent of a small power plant…