More and more companies are using internet for marketing purposes. Discuss the reasons why companies are using the internet for marketing and discuss the extent to which internet marketing will replace TV advertisement.

Introduction:

The 21st century has brought mammoth technological progress in the world. This advent of modern advancement has not only made this world a global village but also has affected the business ventures significantly. Before the commencement of the internet, the conventional and traditional means for marketing the business were used to enhance the growth of the business. However, the recent developments in the technological arena has paved the way for businesses to avail the benefits of internet for the purpose of marketing. Conventionally, the TV was used as marketing means for business ventures but the recent trend of marketing has changed to internet marketing. The TV marketing is very costly and it has very limited domain of reaching the customers. On the other hand, internet marketing is cheaper and easily accessible to the target customers. Average profitability is under pressure in many industries influenced by the Internet, it becomes more important for individual companies (Porter, 2001). Modern business companies are using the internet as the effective tool for marketing their businesses and this has helped them enough to reach the target markets. Through internet marketing, the customer satisfaction is also considered significantly and provision of quality products are ensured due to company’s direct contact with the customers through internet. However, the TV marketing utterly failed to develop better and effective communication between customers and the company. The companies are using internet marketing and this marketing tool will replace the TV advertisement due to low cost, effective and direct communication with customers and prompt customer care by the business. In this essay, we will discuss the reasons that companies are using internet as the marketing means and in which ways the internet is replacing TV marketing.

Why companies are using the internet for marketing?

Internet is the fastest means of communication as well as approaching the target customers and markets. Internet helps both the customers and the business to be satisfied. This helps the business to develop its e-business through which the buyers and the sellers interact. And this helps to reduce the cost and door to door service for the ease of the customer enhancing the customer confidence and satisfaction with the business. Furthermore, the Internet is the fastest mean of reaching the potential customers and the potential markets. For example, Alibaba is the world’s fastest growing e-commerce business and it has developed its growth due to the availability of the internet. According to the official records of the Alibaba Group, it earns 22.99 billion dollars annually (Statista, 2017). Similarly, According to the Suite Commute website, 33.7million employees around the world are involved in the telecommunication through internet that has helped the companies grow their sales globally. Moreover, internet helps the business to conduct research new products in the world. It helps in knowing the customer’s choices so that the company produces its products accordingly. Internet is the very effective tool that is used for the customer care, and this is the direct contact of customer and the business unlike TV marketing. Moreover, this helps to develop the customer care which ultimately assists enhance the company’s products. Thus, internet is the fastest means of communication between customers and the company (Hennig-Thurau & Walsh, 2014) .

Internet is the cost-effective for business marketing. Therefore, internet marketing is necessary for the business in the contemporary business markets. Because the internet marketing is better and has the more benefits compare to traditional and conventional marketing TV advertisements. The TV and print marketing costs more due to the fact that the TV has to generate its revenue through the advertisements and the businesses are its clients and it charges more to the big and established businesses. On the other hand, the internet does not require heavy charges and it costs very less. Similarly, the TV advertisement requires more formality while the internet marketing requires only click to reach the customers worldwide. This, however, reduces many inclusive costs to the businesses (The Wall Street Journal, 2018). On the contrary, the internet marketing companies in the United States cost as less as $260 per month and it has potential to reach the millions of customers worldwide. According to the recent research, inbound marketing costs 62% less than the traditional outbound marketing of the company and has high potential to reach diverse customers unlike the traditional marketing of the company (Daciuk, 2017).

Internet has vast range of reaching the potential customers worldwide. Because, reaching the potential and target customers and the market is the ultimate object of marketing of the company. However, the traditional marketing advertisement has failed to offer precise marketing. On the other hand, the internet marketing is done with the precision marketing to enhance the sales of the business. For example, when the advertisement is done through TV, the viewers are not necessarily interested in the advertisement of the company, and the company wastes its resources on the marketing and does not get significant results. However, through the internet marketing using different sources such as emails, contact numbers, and social media, the business becomes successful in achieving the target of reaching potential customers and potential markets. For example, the world’s largest internet business Alibaba pays google for google advertisements and Facebook as well as YouTube to enhance its marketing of the business. However, approximately 70% of consumers visiting a social website for information (Miller & Lammas, 2010). These online marketing companies show the advertisement of the Alibaba to those who’s browsing history shows as the interested in such products that Alibaba produces. Moreover, internet is effective tool reaching the target customers and this is very necessary to make the company’s products a brand.

Lastly, the internet marketing helps the business and gets it to the global reach. On the other hand, TV marketing, as well as traditional marketing, is confined to any specific region where the TV advertisement is made. Internet marketing is helpful for the business to make it globally recognized product and this helps the business to enter into the international business markets. By advertising the product on the internet the product reaches to the global audiences. It is pertinent to maximize the profits from e‐business among organizations in developed and developing countries that the internet has provided better opportunity the business reach at the global level.Empirical data from 262 US firms and 175 Chinese firms provided evidence about the extent of organizational adoption of e‐business  (Sean & Gibbs, 2010) . However, Chinese firms lag in using e‐business‐related technologies, especially inter-organizational technologies. For example US firms make more extensive use of the Internet and government regulation plays a more important role in China than in the US. Moreover, technology competence, enterprise integration, competition intensity, and regulatory environment is affected through the internet (Sean & Gibbs, 2010).

Which internet marketing will replace TV advertisement?

The recent growing trend of internet and social media advertisement, there is very little doubt that the internet will replace the TV advertisements and the marketing through TV will be lowered significantly. There are several reasons that have caused the TV advertisement lowered. Firstly, the TV advertisement is costly. This means that the company always seeks to have low marketing cost and the internet provides the effective marketing to the company’s business. Secondly, the TV advertisement is not as much effective as compared to the internet because, internet helps the business reach the diverse target market and customers. The changing global apparatus of means of marketing tools, internet marketing has been significantly used in the modern times. There are also some repercussions exist in the use of the internet marketing. Such as the technical staff for internet marketing will be required and they need to be trained professionally. However, the world’s high revenue earning companies are using Facebook, YouTube and Google as their mean of marketing rather than TV advertisement. Thus, the internet media will replace the TV advertisement significantly (Connelly, 2015).

Moreover, the company tries to limit is costs and maximize the profits. Therefore, the businesses always choose to advertise through internet rather than TV advertisement. For example, the cost of the advertisement in BBC costs $92,000 for a slot, while the cost through Facebook for an established business costs only $4000 for the whole month. Similarly, the viewers of the BBC advertisement are only 1.2 billion, while Facebook advertisement has 3 billion people around the world. Thus the cheaper cost of advertisement on internet encourages the businesses to advertise through internet (Stewart, 2017) .

Conclusion

The recent development of technology has affected the existing structure of the marketing tools of business. In this regard, the business companies have adopted the recent trends and traditions as well. Moreover, the companies have been trying to adopt the strategies that are quite effective. In the case of marketing, the companies recently have switched themselves from TV advertisement and marketing to the internet marketing. The internet marketing has proved to be effectively being used in the world. Most of the top-ranked companies have added more to their revenues significantly. In addition to it, TV marketing is quite slow means of advertisement and the potential n customers do not become the target of TV advertisements. However, the superfluous use of internet in the world has made internet a quite relevant and convenient way of marketing for the businesses. Similarly, the TV advertisement has been significantly replaced with the internet advertisement. Thus, it is inevitable to say that the companies have started using internet as the mean of marketing and advertisement and will replace it in times to come for the enhancement of business revenues and sales of the business.

Bibliography

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