Additionally, e-marketing also refers to the use of electronic methods or media to build upon and maintain customer relationship through electronic platforms e. Strauss and Frost support the above statement and suggested that, sales, public relations, direct marketing, and advertising are marketing communication that comprises the crucial components of e-marketing strategy.
B2B e-marketplace, as one of the major trading platforms brought by the internet technology has made a significant contribution to the e-marketers. However, small and medium sized enterprises SMEs are also eager to compete in the electronic environment remain concerns as how their businesses can gain benefits from B2B e-marketplace.
With significant online and offline publications from both academia and industry Strauss and Frost, ; Chaffey, ; Sandeep and Singh, ; Brady et al. Nonetheless, there is limitation on how to explore the opportunities for SMEs in benefiting from the emergent e-marketing practices, derive from the B2B e-marketplace. This paper is intended to provide a clear understanding of the performance of e-marketplace in conducting e-marketing in the global business environment. The proposed framework is intended to be used as a guide for B2B firms especially SMEs who wish to adopt a proactive approach in the use of information and communication technology ICT for business efficiency and competitive advantage, and those who wish to explore the internet technologies for marketing activities.
First, the study outlines the motivation and 28,3 objectives for the proposed e-marketing framework. Second, the relevant literature focuses on reviewing three recognised e-marketing frameworks and the performances of e-marketing in B2B e-marketplace, and finally, the key findings are presented and discussed.
Some of the widely recognized e-marketing frameworks proposed by Chaffey , Gloor , and Kierzkowski et al. Chaffey — the e-marketing strategy. Chaffey suggests that e-marketing plan should be linked to other corporate plans in order to support the marketing activities. Referring to Figure 2, the e-marketing plan in an organisation should integrate with other corporate or functional strategies to inform specific market plans for different products or geographical markets.
However, many organisations are still not fully aware of the benefits and opportunities provided by e-marketing. The main concern is the presence of financial constrains and technological expertise especially for SMEs Corporate Business strategy Marketing strategy Plans for different markets and brands Marketing communications Figure 2. Gilmore et al. Furthermore, SMEs have been experiencing difficulties in implementing e-marketing due to the lack of specialist in e-marketing, resulting difficulties in responding to competitive threats.
Gloor — roadmap to e-marketing. Gloor emphasizes that business and technology are fundamental factors to complete the e-marketing vision, and the transformation to electronic businesses has to consider various aspects including the potential of e-marketing technology Figure 3. The business vision need to be clearly defined, and the decision makers including functional managers should work together to complete the transformation plan.
Based on the roadmap proposed by Gloor , there is a need for high level ICT expertise, and the business experts play a crucial role to ensure the development of flexible, scalable and extensible marketing architecture to support current needs and future business requirements.
The framework in Figure 3 indicates the interactive nature of the e-marketing process, which is never completed but rather is an on-going activity. Furthermore, marketers are now looking at the extended marketing strategy that comprises diagnostic assessment and future vision of the organisations that provide additional business efficiencies and business leverage to maintain their competitive positions.
The right e-marketing resources should be a vehicle for marketing firms to learn and enhance the knowledge Diagnostic Strategy Future vision Implementation Evaluation assessment programming Strategy Business process Technology People Implementation Figure 3. Kierzkowski et al. The relationship of each of the elements is contributed to marketing activities and aimed at achieving profitable acquisitions and retention of customers.
The application of technology to achieve CRM is a key element of e-marketing Kierzkowski et al. Building long-term relationships with customers is essential for any sustainable business. Hence, this cycle is strongly linked to CRM in terms of making profit, gaining, and retaining customer knowledge such as their behavior, value added, and loyalty drivers.
In order to survive in the global competitive market, many consumer marketers depend on their capacity to create value, and this value is defined by consumers. Whilst the above authors have made a significant contribution to knowledge in the area, a clear and comprehensive picture of e-marketing adoption would be instrumental in priding a road map for the same. Many practitioners and academics Laudon and Laudon, ; Stockdale and Standing, ; Gilmore et al.
Digital marketing cycle Source: Adapted from Kierzkowski et al. Furthermore, it also e-marketplace important to respond positively to the current and ongoing technological innovations and changes in marketing practice. One of the most heralded e-marketing developments in recent years is B2B e-marketplace, and this virtual technology-enabled trading platform has made a significant contribution to the e-marketers. Many practitioners are predicting B2B commerce is expected to have a massive growth and majority of the organisations will have to give consideration to involve with B2B commerce.
Referring to Figure 5, B2B consists of three main elements and the e-marketplace performs the main tasks such as sourcing, automated purchasing, processing to facilitate the sellers and buyers to do business transactions.
Laudon and Laudon stated that B2B e-marketplace refers to the exchange of information, products, services, and payment via the internet between buyers and sellers. B2B e-marketplaces are typically defined as inter-organisational IS through which multiple buyers and sellers interact electronically to identify potential trading partners, select them and execute transactions Rohm et al.
Murtaza et al. Recent studies Narayanasamy et al. Overall, the benefits of B2B e-marketplace as reported by many academics and practitioners include:. Most of the B2B e-marketplace studies utilise a business perspective to explore; their development Albrecht et al.
However, the current literatures do not fully explore the issues relating to the performances of B2B e-marketplace from an e-marketing perspective. In addition, much of the research is focused on particular research areas of interest often ignoring the links to others dimensions in particular e-marketing services. Hence, there are concerns that the despite the efforts to promote adoption of B2B e-marketplace from an e-marketing perspective, SMEs are not fully aware of the opportunities and benefits Stockdale and Standing, The literature provides insights into the current level of internet-enabler marketing technologies from B2B e-marketplace to the marketers.
The frameworks suggested by various authors including Chaffey , Gloor , Kierzkowski et al. However, it appears that there is limited exploitation of such frameworks by industry professional. Methodology B2B An online questionnaire was used to reach the sampled companies operating in the far e-marketplace east market China, Malaysia, and Singapore. The rational for choosing the theses countries is motivated by the advanced and well-developed B2B e-marketplaces and their SMEs databases.
The questionnaire was aimed at general managers, managing directors, IT managers, sales managers and other professionals in selected organisations that participated in B2B e-marketplace. The sample frame contained B2B companies, who were active members based on their transaction volume , and after screening the database for redundancies and misplacements, resulted in a total population of Survey results and data analysis Answers to questions one, two, and three have been withheld due to privacy.
The survey results are divided into four sections. Characteristics of sample The characteristics of sample are indicated in Table I. In terms of business domain in this survey, In addition, the maximum number of employees from the organisation is within and this considered medium size firms which is A total of employees accounted for Out of 87 respondents, Reliability is a necessary contributor for data accuracy and consistency Cooper and Schindler, Trade shows 1 7 15 45 19 3.
In addition, over 24 percent of the respondents indicated that internet advertising is their main marketing function. The result provides a clear indication that, SMEs are aware of the internet marketing activities. Hence, it is beneficial both academics and practitioners to further explore and to get a better understand of the underlying obstacles and the main reasons for success in e-marketing adoption.
The reasons of e-marketing adoption The development of strategies for internet marketing is reported to be challenging for SMEs, as transformation requires an understanding of the rationale for e-marketing adoption. The performance of e-marketing is another important that was explored with the respondents. According to Eid et al. Furthermore, e-marketing has been considered an important propriety asset to compete in the global marketplace. The results also indicated that majority of the respondents believed e-marketing performed well in their businesses.
In summary, the need for marketing for gaining a competitive edge in global markets is the main reasons for marketers to participate in e-marketing. Despite the potential of e-marketing, it would be beneficial to review the benefits and challenges to the marketers.
E-marketing benefits and challenges The section is used to identify the e-marketing benefits and problems face by the B2B marketing firms. As shown in Table III, over 25 percent of respondents stated that the security was the main problems in e-marketing. This was followed by implementation Regarding to the benefits of using e-marketing, Initially, the survey results seem to show that there are effective controls for dealing with the problems in these particular firms.
However, the difficulties in analyzing these data become obvious when a more detailed disaggregated pattern is sought. The main problems in e-marketing are the security, implementation, and expertise. Although many SMEs are struggling with e-marketing adoption, however the understanding of the technology is important. Generally, many firms invest heavily in e-marketing mainly because of the competitive pressure and for establishing better relationship with their customer.
Overall, the range of benefits that can be achieved from participation in e-marketing is extensive, although not all will apply to every company. The benefits of e-marketing are not normally realised in a short space of time and as such companies should be realistic about short-term benefits. A longer, slower approach may be a more reliable way to achieve sustainable advantages from e-marketing participation.
Nevertheless, recognition of the advantages to be gained from e-marketing is desirable from an early point of developing marketing activities to enable business strategies for selection of suitable technology to be put in place. E-marketing framework The reason of the development of this framework is to assist SMEs on all aspects of marketing from strategy and planning through to marketing mix and communication. Initially, it is crucial to identify the components of e-marketing strategies that e-marketplace may help SMEs in the use of the internet-based marketing techniques to compete in international context.
Critical components of e-marketing strategies Based on the survey results, respondents have identified three major components that are likely to be examined in the success of e-marketing implementation. The mean scores for each marketing components were calculated using their respective constructs from the data shown in Table IV.
Information resources and information capabilities of the organisation can create value for itself and for its customers. SMEs need a system that can create, acquire, organise, distribute, and use the information to implement e-marketing strategies. Therefore, effective adoption of the e-marketing resources is critically important for SMEs to extend credit for the success in the internet-based marketing activities. In the past decade, many 28,3 academics and practitioners including; Lee et al.
The adoption of SWOT analysis for this study is primarily to combine the analysis from the survey results and the literature review. In terms of monitoring the issues which are currently engaging businesses and educators, a structured analysis using SWOT techniques that consist of the external opportunities and threats are conducted. In addition, this analysis is also considering the strengths and weaknesses in the electronic environment which summarises the results through SWOT analysis as shown in Table V.
Lower Prices Another considerable Strength of online shopping is that products tend to have lower prices, when compared to traditional retail channels. One reason for this is that eCommerce typically involves sellers interacting directly with consumers, cutting out middlemen such as distributors. Another reason is that the eCommerce stores typically have significantly lower overheads than brick-and-mortar stores, which have to account for rent costs, employee salaries, and more.
For example, books, electronics, and kitchen gadgets are all easy to sell through online stores, since consumers roughly know what to expect. However, some items are much less universal; the best example of this is clothing.
Unfortunately, it will be very difficult for eCommerce stores to expand into these industries. Opportunities Here are two Opportunities for the eCommerce market: Growing Market One of the biggest opportunities for the online shopping industry is the growing market. This will subsequently result in a greater volume of eCommerce sales. Influencers There are a number of internet users who use their large social followings to promote various goods and services. These people, known as influencers, present a powerful marketing opportunity for savvy eCommerce sellers.
With social media becoming such a huge part of our everyday lives, influencers are set to play an increasingly important role in how products are marketed — and eCommerce stores are best positioned to take advantage of this.
This is because of how easy it is for just about anyone — anywhere — to launch a new eCommerce store and compete with other online shopping businesses. Fraud The world of eCommerce is fuelled by digital payments, whether that involves credit or debit cards, bank transfers, or even cryptocurrencies.
This makes it a huge target for fraudsters, who now have an easy way to cash out on their illicit activities.
Required process speeds for order and issue management Payment processes Logisitics of processing shipping, returns Provide marketing tools for participants performance marketing, data analytics, etc.
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| Difference between physical marketplace and emarketplace swot | Most of the B2B e-marketplace studies utilise a business perspective to explore; their development Albrecht et al. A business should quickly take advantage of opportunities and mitigate threats. Opportunities Here are two Opportunities for the eCommerce market: Growing Market One difference between physical marketplace and emarketplace swot the biggest opportunities for the online shopping industry is the growing market. Based on the roadmap proposed by Gloorthere is a need for high level Click here expertise, and the business experts play a crucial role to ensure the development of flexible, scalable and extensible marketing architecture to support current needs and future business requirements. Initially, the survey results seem to show that there are effective controls for dealing with the problems in these particular firms. Through regular market tests, failure due to a lack of market interest can be avoided as far as possible. |
| Difference between physical marketplace and emarketplace swot | Congress might force online merchants to collect sales tax. The data from the survey identified an apparent opportunities in e-marketing with exposure to new market segments, cost reduction, global presence, and customer feedback concerning e-marketing and related issues. These are competitive advantages. Second, the relevant literature focuses on reviewing three recognised e-marketing frameworks and the performances of e-marketing in B2B e-marketplace, and finally, the key findings are presented and discussed. Share this article:. |
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To say in a different way, a marketplace may be an e-commerce website, but not all e-commerce websites are marketplaces. While it may primarily sound confusing, here are 10 significant differences between a marketplace and an e-commerce website you should know. Actually, the best place to sell online differs from vendors to vendors depending on their products, needs, and goals. It is very important to have a clear concept about your marketing approach and targeting in online marketplace and e-commerce business.
While in e-commerce you have to focus on targeting buyers, in a marketplace you must attract not only buyers but also sellers who will be the heart of your platform. In e-commerce, the individual merchant has to spend more to drive traffic to their site.
Once a buyer finds his selection, the selection process is simpler, as they are selecting from the products offered by only one company. On the other hand, marketplaces benefit from various users operating on their site. As there are many merchants, they individually advertise the existence of the marketplace causing a viral spread of awareness. The more the buyers are happy, transacting on the site, the more they help to spread the recognition of the marketplace.
So it takes considerably less financial risks than e-commerce websites which have to constantly invest in stock that may take time to sell or never sell at all. As mentioned, marketplaces gain economies of scale more easily, and, therefore, allow them to expand faster than e-commerce websites.
Keep in mind, the larger the inventory, the more likely it will be for the buyers to find what they are looking for. Physical abuse is cruel and violent. No one deserves physical abuse. Log in. Affiliate Marketing. Internet Marketing. Study now. See Answer. Best Answer. Study guides. Q: Difference between a physical marketplace and an e-marketplace? Write your answer Related questions. What is difference between physical marketplace and an e marketplace?
But in a marketplace, as everything remains ready, you can register, list, and sell without spending much time and extra work. Again, since e-commerce websites have more initial investment, they take longer to break even. On the other hand, marketplaces have better profit margins as their revenue is basically percentages of the transactions. Depending on the volume of transactions, this is the earned money that is usually re-invested into product development to accelerate growth.
It is because primarily earning revenue from the commissions it deducts from sales. As a result, Marketplaces need to sell greater volumes of products than e-commerce websites do. They also point to the price movement direction. With the help of trend indicators, marketplaces are able to further track their sales more specifically. It is also known by them that which products are the best and which vendors are more efficient. As a result, best and effective measures can be possible to take and promote content that truly matters to its users.
Marketplaces have always been transaction-oriented and the goal is to match buyers and sellers. Marketplaces regularly focus completely on moving buyers towards purchases and sellers towards listing more products or services. In fact, marketplaces benefit from network effects: more buyers attract more sellers and vice versa.
Engaging audience in the e-commerce business is hard. Even after you gain some experience, you may still be targeting the wrong people. Different social media like Facebook can help greatly to engage audience. Your users need to trust your platform and each other.
Marketplaces give buyers a one-stop-shop to buy everything they need. Therefore, marketplace solutions have been tailored from the ground up to address specific marketplace shopper and operator requirements. The technical aspects to build a marketplace should be unique. It should offer powerful APIs application program interface , be cloud-based software enabling short implementation times, and have a scalable database designed for multi-market use.
Modern marketplace solutions support Omni-channel technology; assimilating physical in-store, web, fulfillment and social commerce channels into the one platform. But, on an e-commerce website, the arrangement of the products is based on categories. There are more detailed and hence efficient filters for the research bar, which means the user can then refine his search a lot more accurately.
Therefore, in terms of the navigation process and patterns, there is a huge difference. The success in the marketplace development is seen growing regularly while the trend in the e-commerce website is constantly evolving. Before starting a new business, there are many things to consider, such as managing logistical supports, making an effective shopping experience, excellent customer service, etc.
At first, identify your needs, preferences and target audience. When it is done, you will find it easier to choose whether to use an online marketplace or an e-commerce solution. Today I share my experience and my clients feedbacks through useful resources that will allow you to focus on what really matters for the success of your online marketplace.
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