{"id":164,"date":"2018-10-31T05:33:59","date_gmt":"2018-10-31T05:33:59","guid":{"rendered":"http:\/\/mgmtp14.epgpbooks.inflibnet.ac.in\/?post_type=chapter&p=164"},"modified":"2018-10-31T06:32:31","modified_gmt":"2018-10-31T06:32:31","slug":"changing-marketing-practices-digitalization-customization","status":"publish","type":"chapter","link":"https:\/\/ebooks.inflibnet.ac.in\/mgmtp14\/chapter\/changing-marketing-practices-digitalization-customization\/","title":{"rendered":"Changing Marketing Practices: Digitalization & Customization"},"content":{"raw":"
\r\n\r\n\u00a0 \u00a0 LEARNING & INSTRUCTIONAL OBJECTIVES <\/strong>\r\n\r\nAt the end of this chapter, learner should be able to:<\/strong>\r\n
    \r\n \t
  1. Understand & Defining Digitalization<\/li>\r\n \t
  2. Define Customization<\/li>\r\n \t
  3. Understand the various Changing marketing practices<\/li>\r\n \t
  4. Understand E-Marketing and its concept<\/li>\r\n \t
  5. Gist \/ Summary of the Module<\/li>\r\n \t
  6. Review questions<\/li>\r\n<\/ol>\r\n\"\"\r\n\r\n \r\n\r\nINTRODUCTION<\/strong>\r\n\r\n \r\n

    Marketing is not just selling or promoting goods or services in real market but also in virtual market i.e. internet world. This virtual market is digitally connected with the whole world. The digital marketing is the sky under which the target customers are approached with interactive marketing for products and services to promote brands, build performance and increase the reach by converting the leads into customers to retain them. Digital marketing is personified by an extensive selection of brand marketing tactics, which mainly use the Internet as a hub for promotional intermediate, in addition to other media vehicles.<\/p>\r\n \r\n

    Today we can distinguish between a market place and a market space. The marketplace is physical, as when one goes shopping in a store; market space is digital, as when one goes shopping on the Internet. Digital Marketing has many advantages for both consumers and businesses, including convenience, savings, selection, personalization, and information. For example, on-line shopping is so convenient that 30 percent of the orders generated by the Web site of REI, a recreational equipment retailer, are logged from 10 P.M. to 7 A.M., sparing REI the expense of keeping its stores open late or hiring customer service representatives. However, the digital market space is also bringing pressure from consumers for lower prices and is threatening intermediaries such as travel agents, stockbrokers, insurance agents, and\u00a0traditional retailers. To succeed in the digital market pace, marketers will need to reorganize and re-define themselves.<\/span><\/p>\r\n \r\n

    DIGITALIZATION<\/strong><\/p>\r\n

    Digitalization is to make available anything regarding products or services available through\u00a0<\/strong>integration of digital technologies using internet to the customers.<\/strong><\/p>\r\n \r\n

    Digital marketing is the tool to promote the products or services produced by the industry to the ultimate customers. It is a broader spectrum that refers to several promotional techniques organized to reach customers through digital technologies. It is also personified by an extensive selection of products or services leading brand marketing tactics, which mainly use <\/span>Internet as a hub for promotional intermediate, in addition to other media vehicles like TV, Radio <\/span>and Newspapers.<\/span><\/p>\r\n\r\n<\/div>\r\n\"\"\r\n

    \r\n

    Fig. 20.1: Evaluation of Digitalization in Marketing (Source: Author Created)<\/strong><\/p>\r\n \r\n

    In 1990s the concept of \u201cDigital Marketing\u201d was said to be used. Then it was going under dormant phase and again was active in 2000. From 2000 to 2010 digitalization in marketing became more prominent. The swift evolution of digital media has twisted new prospects and avenues for advertising and marketing.<\/p>\r\n \r\n\r\nDigital marketing activities are:<\/strong>\r\n