The subject of this research has a more practical rather than theoretical character. This paper could provide alternative solutions to problems many companies deal with, helping them to recognize their current situation and eventually to apply the most practical solution. It can also provide some basic scientific data in coping with this relatively undeveloped new information interactive medium.
Advertising on the Web is not only about selecting a type of advertisement. The percentage of revenues might sound unrealistic, but they are not if one thinks about how the size of the initial investment which can be small. The options that will be taken into consideration may be the size of the company, and the amount of capital they have to spend, and perhaps simply the volume of information they have to offer to the internet community. One could foresee that in five years, nearly every company will be on the Web in one form or another, with the majority of households worldwide able to access their database, something that clearly makes the Web an important marketing tool (Hoffman, Novak, and Chatterjee, December 1995).
Marketing effectiveness can be explicitly tied to customer response. A great opportunity will be created for the web’s marketing success when new measurement systems that capture the value of a single consumer's visit and subsequent response will develop. The speed in which the Web technology develops shows that in a very short time this issue will be solved, as Web marketers will agree on a common technological advanced measuring system.
"Because consumers vary upon perception ability, the web-based marketing efforts will have to aim on the creation of a segmented market" (Hoffman and Novak., July 1996). A suggestion for further research would be a study that can determine the variables that relate to a consumer's tendency to adopt a certain behavior towards available marketing data on the Web. Such research information can be used to develop marketing efforts designed to maximize the chances of the consumer’s participation to purchasing activities. Since the consumer will have to purchase more frequent in relation to the number of visits he/she makes, the marketing objective on the first visit, will be to provide him/her with the appropriate environment for this adapting behavior.
An important role for the success of web-based marketing efforts will be the pricing strategy internet access providers follow. Some commercial online service pricing models are still based upon connect time and usage charges. "Such schemes have the effect of discouraging usage and, increasingly, make consumers dropping these kind of services. In the short run, flat rated plans encourage consumer experimentation and system use" (Hoffman, July 10, 1996). Continuous usage of the internet results to demand because, as it is well known in marketing, usage tends to be addicting. This suggests that pricing models that encourage browsing will encourage usage. In the long-run, usage based pricing may be more appropriate as the Web matures as a medium, someday soon becoming as popular as the telephone.
The final issue of how profitable the Web can be, still remains premature. However, a careful examination of where the opportunities are can be undertaken. Despite the current enthusiasm of commercial Web activity, there is little information on the types of business models in use and whether some have the potential to be more effective than others. Strategic insight is therefore needed into how sites are differentiated, how they may be designed more effectively, and how to attract customers to sites, something that like the trends show has started to happen already.
One suggestion for future work would be a development a research based on the above needs of strategic insight information. That is an analytical examination of a variety of commercial Websites in a certain amount of time. This examination will deal with the development of today’s Website companies to an established or experienced organization. From the insight look of these business models a specific marketing framework will be developed and in that way it will help future Website businesses to function through marketing procedures more effectively.
Future work should also focus on empirically estimating the relative distributions of businesses across different categories on the Web and the types of businesses within each category. Research efforts should especially concentrate in developing integrated marketing approaches that specify the ways in which these different elements can be combined for maximum advantage, for making the Web a really powerful marketing tool .
In sum, what we have seen in this paper is that the traditional marketing models, with their attendant implications and consequences on its theory and practice, have only limited utility in emerging media like the World Wide Web, and that a new marketing approach is required for this new medium. Based on that, new rules of cooperation and competition can emerge in which marketers focus on playing an active role in the construction of new standards and practices for facilitating marketing process in the emerging electronic society underlying the Web. Based on this development, the World Wide Web can be considered as a revolutionary marketing hyper-medium.
The Web as both medium and market is more likely to be successful if it lets consumers leave from their traditionally passive role as receivers of marketing communications, gives them much greater control over the search for and acquisition of information relevant for consumer decision making, and allows them to become active participants in the marketing process.
Marketers can have the opportunity to use the benefits of this innovation in interactive by being closer to the customer than ever before. This is what brings us to the position to be able to define the primary role that the World Wide Web will play in marketing, as marketers will benefit from the great potential of its mass-interactive nature and make it the marketing revolution of the future.
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