Travelling artists, marketing and ethics
In today’s marketplace even small brick and mortar businesses need an e-marketing strategy. The consumers may still be the neighbors down the block but they shop differently now that the Internet has grown to be a powerful, quick convenient way to get information, to shop and to keep in touch. The strategy may be a presence on social media or a full “store” online website. Trader Joe’s is an example of a business that has an online presence but still maintains a “neighborhood” store atmosphere.
Back to the wharf, how do “travelling” storefronts utilize e-marketing? Etsy is an example of a site that provides online space for freelancers and those without either a brick or mortar or a website. Even on sites offering business sites the entrepreneur needs to understand the consumers to know how to market the products and . They also need to know how to analyze traffic to help plan best uses of marketing funds. Information about who the consumers are, how to reach them and to keep them, and what they need or want are important data. Tools are available like Google Analytics to help gain the information to help the business grow.
The entrepreneur’s biggest marketing issue is reaching and engaging consumers. The use of a blog is a free or inexpensive way to reach potential consumers. Find a niche for the product, build a customer emailing list and ask about product interest and feedback. All sales should be documented and customer added to the client list
Another issue in today’s online marketplace is the speed of information travelling and the span of the reach globally. One problem beginning artisans make is to bring too little product or the wrong products to the fair. Vendors are no longer limited to the local marketplace. This leads to another issue. Ethics. Unlike laws, ethics may not be written or enforceable. Ethics varies from one culture to the next. It is up to the vendor to maintain an honest business and fairness to the consumers. Trust builds business, acquires and retains consumers. New and retained consumers support sustainability.
Welcome to the Wharf where successful digital marketing is the goal. This week covers researching the target market, setting online commerce goals and market planning. I am Lee, a jeweler, desktop publisher and graphics designer. I teach classes in these fields. I have chosen this topic to learn about marketing related to fields in which I work.
The week’s activities include defining e-business, e-commerce and e-marketing. The topics show how they are related and work to successful market products. The emphasis in this post is on e-marketing starting with a definition from the business dictionary.
What is customer value as defined in the Business Dictionary?
The difference between what a customer gets from a product, and what he or she has to give in order to get it.
After researching sites related to the topics for the week, two were interesting discussion of the relationships between the three topics and the digital marketing roles in today’s competitive marketplace. Dr. Philip Kotler (Kotler, 2015) emphasizes the trends and the effects on the marketplace. The marketplace is becoming more competitive as more pressure is put on pricing to compete successfully. Another factor is the ability of the competition to quickly reproduce new products. Educated consumers drive markets. Dr. Kotler (Kotler, 2015) says “The customer is King.” Another important aspect is the role of marketing; the role of manufacturing is to support marketing. The marketing department identifies consumers needs, develops products and to work toward developing a plan to sustain the market. The internet offers tools for marketing to accomplish the goals that support the goals of the corporations.
The second article is about the consumer’s perception of the product. Ilan Mochari discusses Ravi Dhar’s “Meaningless attributes often lead to meaningful differentiation.” The perception of the product effect’s sales and pricing. As a jeweler, this is a topic I have personally experienced. It takes just as long to make a silver ring as it does a gold ring. But the intrinsic value of gold results in higher pricing and profits. Professor Dhar uses the thickness of ketchup to show this principle.
Besides the definition of the vocabulary of this week’s topics, the reader has been introduced to the factors that effect pricing through the eyes of the buyer and the importance to understand this factor. The importance of marketing in commerce is shown to be a driving force in the marketplace.
See you next week!
Dhar, R. (2014). Ravi Dhar | Yale School Of Management. Retrieved March 4, 2015, from http://som.yale.edu/ravi-dhar
Kotler, P. (2015). Kotler Marketing Group, Inc. Retrieved March 4, 2015, from http://www.kotlermarketing.com/phil_questions.shtml
Mochari, I. (2014, April 8). Why Your Customers Value Authentic Products | Inc.com. Retrieved March 4, 2015, from http://www.inc.com/ilan-mochari/customers-value-originality.html