Digital Marketing: Global Strategies from the World's Leading Experts - Softcover

Über die Autorin bzw. den Autor

JERRY WIND is Lauder Professor of Marketing and Director of the SEI Center for Advanced Studies in Management at the Wharton School as well as a marketing and business strategy consultant to such companies as Edward Jones & Company, SEI Corporation, and BMS. He is on the boards of a number of dot-com startups. Wind is the author of over 200 articles and eighteen books, including Driving Change: How the Best Companies Are Preparing for the 21st Century.
VIJAY MAHAJAN is John P. Harbin Centennial Chair of Business at the College of Business Administration of the University of Texas at Austin, specializing in new product development and diffusion, forecasting, marketing strategy, and marketing research methodologies.

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THE WORD IS OUT ABOUT DIGITAL MARKETING

"This is the first comprehensive treatment of an increasingly important subject." --Peter Drucker, Honorary Chairman, Peter F. Drucker Foundation for Nonprofit Management and Clarke Professor of Social Sciences, Claremont Graduate University

"Traditional marketing can kill your company. This book is must reading for every company that recognizes the need to reorganize its marketing strategy vis-à-vis the new empowered customer and the new technology." --Philip Kotler, S. C. Johnson Distinguished Professor of International Marketing, Kellogg Graduate School of Management, Northwestern University

"Digital Marketing asks the questions today's marketers must answer to meet tomorrow's challenges. Digital consumers are decision-makers, no longer decision-takers. Successful marketing strategies will have to focus on helping them to optimize their decisions." --Dr. Ulrich Cartellieri, Member of the Board, Deutsche Bank AG Frankfurt

"...an extremely lively and balanced book. Based on solid research, it covers everything a good marketer, executive, even CEO, needs to know in order to compete in the digital marketplace. Not only does it cover technology, knowledge management, economics, customer contact, data warehousing and strategy, it also shows how to create digital marketing programs that fit with the new business models." --Lennart S. Lindegren, Global Strategy Leader, PricewaterhouseCoopers

"Making sense of technology and business on the Internet has become an urgent priority. This book represents a crucial step in establishing a comprehensive framework for developing business models. This is essential reading for everyone wishing to exploit the new thinking in an informed way." --Colin Crook, Former Chief Technologist, Citicorp

"...full of solid insights on how to leverage the Internet for customers' and marketers' delight. A must for twenty-first-century marketers and researchers across the globe." --Hotaka Katahira, Professor of Marketing Science, Faculty of Economics, University of Tokyo

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What will happen to pricing now that online consumers can choose their own prices and buyers and sellers can haggle independently in Internet auctions? Have brand names become less powerful as customers move closer to accessing real-time, highly competitive information? And how can companies shift from traditional broadcast communications to the interactivity of e-commerce-where information educates, entertains, and hopefully persuades the consumer?

Digital Marketing answers these questions and more, exploring the key issues and challenges that businesses operating in the changing global digital age must face. This book from The Wharton School's SEI Center features the best thinking on digital marketing from leading experts at the nation's top business schools including Wharton, Columbia, Harvard, Northwestern, University of Michigan, and MIT.

Under the authoritative guidance of marketing strategists Jerry Wind and Vijay Mahajan, this timely reference reveals revolutionary approaches for promoting and selling products and services-approaches specifically tailored for companies embracing digital technologies. Many of the contributors are consultants to major corporations around the world, so you'll get a real-world understanding of what works, what doesn't, and how to ensure your company's long-term success in e-business.

Inside, you'll find a wide range of strategies on topics such as:
* The shift from mass marketing to customization-the new "sense and respond" business model
* Data mining from online consumers-using the Internet as a valuable tool for finding out who your customers are
* Pricing in the digital environment
* The infrastructure of e-business
* Product positioning on the Internet-how to present your offerings as unique
* Keeping your company competitive on an international scale

Savvy marketing in today's fast-paced world of e-business requires a great measure of flexibility and experimentation. That's why the insightful, adaptable ideas in Digital Marketing make it essential reading for any executive, manager, or consultant charged with helping their company succeed in its online initiatives.

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Chapter 1: The Challenge Of Digital Marketing

The digital revolution has shaken marketing to its core. What does pricing mean in a world where customers name their own prices, or buyers and sellers haggle independently in auctions? Have brands become more or less powerful as customers move closer to having access to real time and highly competitive information? What is the new definition of market research and how is it carried out now that companies can track every click in the customer's decision process? How can organizations shift from traditional broadcast communications to the interactive communication of the Web where information educates, entertains, and hopefully persuades the consumer?

Digital technology has opened new channels for selling products. It provides the consumer with a previously unimaginable quantity and quality of information in an easily accessible form. Consumers can sort products based on any desired attribute: price, nutritional value, functionality, or combination of attributes such as price/value. Consumers can use it to obtain third-party endorsements and evaluations, or they can tap into the experience of other users. Digital technology has put the customer in charge, creating a fundamental shift in the dynamics of marketing. Empowered by technology, customers are unforgiving. Pity the poor company that fails to see this or refuses to play by the new rules.

The enormous advances in information technology are shattering walls between industries as well, shifting the balance of power to empowered consumers and creating what information technology expert Colin Crook has called the emergence of a "global grid." This grid is a network of users and portals, offering free communications, scalability for even the smallest corporations, globalization, total connectivity, and universal digitalization. In this new environment, simple rules often produce complex outcomes, such as fractals or traffic patterns on the Internet. Internet performance has been improving even though the volume of traffic has increased tremendously.

The digital revolution with its global access and user empowerment comes with tremendous strategic uncertainty. Whereas planning in stable environments calls for optimization and carefully developed strategy, planning in the global digital environment requires flexibility and experimentation. The environment is changing so quickly and unpredictably that by the time a rigorous "optimal" solution is developed, it is often obsolete. Agility and flexibility are key. To achieve this flexibility, companies need to manage portfolios of options and products and develop an organizational architecture capable of rapid response to changing conditions and even more rapid testing of innovative strategies. The vision, objectives, strategies, and supporting architecture for success in this complex, dynamic, and chaotic world is based on the interrelated characteristics of successful twenty-first century enterprises (Wind, Holland, & West, 1993; Wind & Main, 1998), that focus on characteristics such as:

Integrated cross functional solutions. Customization, for example, requires close integration of marketing, operations, and customer services. Global perspective. In a world in which the reach of the Internet is global and the firm may have no knowledge of customer needs, preferences, likely behavior, or local competitive behavior, a global perspective is a required.