What is Strategic Brand Management?
The other day I over-heard a conversation generally referred as cooler moment. John was in conversation with Terry around lunch time. John said he was hungry but had to take a quick meal as he was expecting to run a business call. Terry gave alternative of burger as quick and easy meal, to which John […]
Identifying Market Segments and Selecting Target Markets
Market for product is big and diverse making it difficult for companies to be able to satisfy every customer. Companies need to identify a certain set of customer within a market and work towards satisfying them. This set of identification is market segment. Companies further need to understand the intricacy of how this segment behaves […]
SWOT Analysis of Nike
Strengths The biggest strength of Nike is that it is an extremely competitive organization with its approach of “Just Do It” slogan for its brand epitomizing its attitude towards business. The company was founded on the principle that it would make shoes for anyone who could walk or run and this has been the guiding […]
Customer Retention – A Strategic Process to Retain Existing Customers
It is difficult to exactly define customer retention as it is a variable process. A basic definition could be ‘customer retention is the process when customers continue to buy products and services within a determine time period’. However this definition is not applicable for most of the high end and low purchase frequency products as […]
Brand Positioning Strategy
Brand knowledge comprises of brand awareness and brand image contribute to establishing of customer based brand equity. The process is gradual and requires in-depth understanding of consumer mind. Connection between brand and consumer leads to long term partnership and loyalty. And, continued support to marketing efforts of the company. So when a company is trying […]
If internet has had far reaching impact on all walks of life, E trade has had similar impact on all types of businesses. No Organisation big or small, whether a global organisation or an individual owned enterprise can afford to ignore e commerce and e marketing scene. Normally we see people using internet to make their travel bookings like booking airline tickets online, make hotel reservations, look at the places of interest etc. People have also begun to shop online and buy fashion stuff as well as books and other items of interest.
Online buying has not been restricted to these alone. You may be surprised to know that cars are being bought online by customers. This new trend has had the car dealers as well as manufacturers to sit up and take notice of the changes in the buyer’s behaviour. Internet is one medium that transfers the power of information to the users.
In the case of buying a car, the process of buying is heavily dependent upon information. The fact that internet is able to provide detailed information, comparison and all details in the interactive and multimedia mode, customers find it very easy to surf the net for information about the cars.
Comparing specifications, models, and technical specs is easier on the internet for retrieving all the information about various brands can be done by the click of a button. It takes a few minutes to obtain all the information that one is looking for.
Normally this process would have taken several weeks for the interested individual to compile information. Besides the price of the car, there are several other factors that go into the purchase of a car. In the buying process, car financing, warranty as well as insurance happen to be the major determinants too.
It would be interesting to see how auto sales have taken the e-commerce route. Check out the AutoByTel website that offers a comprehensive solution to the customers to buy the car of their choice. This is not a dealer website but works like an exchange which has tied up with dealers, insurance agencies as well as accessory suppliers and other related vendors. Kelley Blue Book and Edmunds.com provide the individuals with the pricing information for each and every model of car in the market.
It allows individuals to do their research, compare prices and models to arrive at their chosen car. Then all one needs to do is to fill up the detailed form online and register with AutoByTel. The exchange then contacts the relevant dealers in the particular area and obtains the best quotes for the car, for insurance as well as the financing schemes, allowing the individual to select the best bargain.
The fact that people are buying cars on through this website shows that the purchasing behaviour and preferences of customers is changing. E commerce is providing them the alternatives. This poses the question to the car dealers as well as the manufacturers about the future of their business models. They have got to take time to understand the internet savvy customers, their behaviour, their concept of value and re design the marketing strategies. This change calls for re-engineering the entire business organisation towards E marketing and Online Selling.
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Mapping Customer Behaviour and Pattern is the starting point of E Marketing
February 12, 2025
