ICT and E-commerceANNUSHA S BRIDGLAL

How does Technology Influence Marketing?

•Technology acts as a catalyst for today’s changes in how marketing is done.▫Easier Access to More Information▫Possibility of people to Network with each other

•Traditional marketing: ONE way flow:

•Today: Technological advancements and Social media give consumers the collective power to dictate what companies do.

Company

Consumer

TRINIDAD’S MARKETING LANDSCAPE

•Lack of integration of technology and ICT processes.

•In my opinion, we are still strongly rooted in traditional marketing, with very little emphasis being placed on e-commerce processes and online niche marketing.

TRINIDAD’S MARKETING LANDSCAPE•There has been a recent growing trend

toward online buying via Facebook. Although it increases consumer choice, they are sometimes subject to escalated prices.

Local Enterprises must adopt an Evolving Business Strategy

Strategy

Must not be static

Tactics

Companies who Successfully Adopted an Evolving Business Strategy

DELL: Success Through Innovation

1985

•Dell changed his strategy to begin offering built-to-order computers.

1990

•Revenues had climbed to $500 million

1997

•Dell’s internet sales had reached an average of $4 million per day. 

2000

•Dell’s revenues had topped an astounding $25 billion

Dell’s Strategy: No More Middle Man

•Superior customer choice: Configuration

•Discounted price: due to cost savings from cutting out retail middlemen.

• Internet-based direct sales model offered:▫wealth of market data ▫used to forecast demand trends, and▫carry out effective

segmentation strategies

How can Local Companies benefit from New Channels

• New media channels such as social media marketing and online advertising/e-commerce are becoming more and more popular, especially among specific market segments such as generation Y and part of generation X.

SOCIAL MEDIA MARKETING• discussions

forums, corporate blogs, community groups, etc.

E-COMMERCE• Sales

expenses are cut down when using e-commerce enabled websites.

ONLINE ADS• lower costs

than traditional media advertising

INFORMATIONAL SITES• can be used as

ways to communicate the messages and/or drive customers to the stores

ONLINE PROMOTIONS• offer new sales

promotion tools

COMPANIES/CUSTOMERS• can save

money by using Internet to compare sellers’ prices before purchasing, to train staff or to hire employees

Benefits to Local Companies

•Cut Costs: inventory costs etc.•Build Relationships with customers via

effective CRM.•Deliver exactly what the customer wants:

Customization.

The Future Of Marketing!•Mobile Marketing

The Future Of Marketing!• E-COMMERCE

The Future of Marketing!

•Blogging

The Future of Marketing

• Radio-frequency identification (RFID)▫Is the use of a wireless non-contact

radio system to transfer data from a tag attached to an object, for the purposes of automatic identification and tracking. May be used to replace price tags etc.