Recent Trends in Multidisciplinary Research and Development: Volume-1
Scherf, N., & Niehaus, S. (2023). A Standardized Clinical Data
Harmonization Pipeline for Scalable AI Application Deployment
(FHIR-DHP): Validation and Usability Study. JMIR Medical
Informatics, 11, e43847. https://doi.org/10.2196/43847
38. Xue, V. W., Lei, P., & Cho, W. C. (2023).The potential impact of
ChatGPT in clinical and translational medicine.Clinical and
Translational Medicine, 13(3), e1216. https://doi.org/10.1002/
ctm2.1216
39. You, Y., & Gui, X. (2020). Self-Diagnosis through AI-enabled
Chatbot-based Symptom Checkers: User Experiences and Design
Considerations. AMIA ... Annual Symposium Proceedings.
AMIA Symposium, 2020, 1354–1363.
Dr. Pandurang Vithal Thatkar
Statistician-cum-Assistant Professor, Pimpri Chinchwad Municipal
Corporation’s Postgraduate Institute and Yashwantrao Chavan
Memorial Hospital, Pimpri, Pune-411018
Email: pthatkar@gmail.com
Dr. Rajesh Keshavrao Dase
Assistant Professor, Department of Statistics, SBES Science College,
Chh. Sambhaji Nagar, [MS], India: 431001
Mob: 91-9921100065, Email ID: rdase25@gmail.com
Dr. Pramod Machindra Dhakane
Assistant Professor, Department of Mathematics, SBES Science
College, Chh. Sambhaji Nagar, [MS], India: 431001
CHAPTER 21
E-MARKETING: THE NEW ERA OF INNOVATION
Ms. Jayashri Sadanand Lokhande
Abstract:
264
Recent Trends in Multidisciplinary Research and Development: Volume-1
In recent years, the Internet and e-commerce have become one of the
fastest growing technologies that play an important role in our lives.
Today e-marketing is one of the emerging technologies of IT and e-
commerce. Internet marketing is a new philosophy and an interesting
topic especially for marketing researchers. In modern business, which
involved the marketing of goods, services and information using the
Internet and other electronic means. It is a new way of marketing a
product/service globally to a target market all over the world. Internet
marketing has become a business tool for marketing products and
services. This article introduces a new approach to online marketing;
shows how advertisers need this innovation to succeed. Electronic
marketing is not only used to promote Internet marketing, but it also
helps marketing through email and wireless media. This article has
discussed the main factors that encourage online shopping. The
current development would be valuable for the researcher and
academician; and useful theory for operators, promoters and
entrepreneurs. This article is a secondary study of how e-commerce is
gradually becoming a part of our daily lives. It concerns various
aspects of advertising according to electronic commerce.
Key words: Online Shopping, Online Marketing, Product, Promotion.
Introduction:
echnology plays a key role in improving the quality of
services provided by companies; one of the technologies
that really brought the information revolution in society is
internet technology. In this article, we present the concept
of marketing and consider its relationship to newer concepts such as
Internet marketing, e-commerce and e-commerce. Marketing is the
activities, institutions and process of product creation,
communication, delivery and exchange. This includes all activities
related to buying and selling a product or service. Even before the
Internet, there were many different ways to advertise in different
media such as radio, television, newspapers, magazines,
telemarketing and brochures. To promote a product, the marketer
DOI: provide
must 10.25215/9189764560.21
information about the product to the user. Information
can be verbal and non-verbal. Since the beginning of the Internet, it
has become a business tool to promote a product; several search
options have become available. Companies had the opportunity to
advertise themselves more widely.
265
Recent Trends in Multidisciplinary Research and Development: Volume-1
Internet marketing (IM) is also known as digital marketing, online
marketing, online marketing or electronic marketing. As the name
suggests, it is the promotion of products or services on the Internet.
However, it also means marketing through wireless media and email.
Electronic customer relationship management (ECRM) systems also
fall under Internet marketing. IM can be both creative and technical
through design, development, advertising and online sales. It
facilitates new types of knowledge-based processes to reach and
interact with customers, such as online advertising, online ordering
chat and online customer service, etc. Internet marketing is a cost
effective tool that becomes very easy and affordable to customize
with very less marketing effort, more and more use the Internet for
business, and it is an effective way to communicate between
companies and customers. Online banking is growing mainly because
more and more people are using the internet every day.
E-marketing also includes the technical and creative aspects of the
Internet, such as development, design, advertising and sales. It helps
to find the right consumer to whom the company offers goods and
services. It consists of all the activities that help attract, find and keep
a customer.
Objective
Each research is done for a specific purpose and the purpose of this
research is to know the conceptual knowledge of online marketing
and the new era of electronic shopping innovations. In this article, we
focus on the study of online marketing, consumer behaviour and the
current state of online shopping.
Methodology
This research is based on the application of internet marketing and
especially its use to attract more visitors to a particular website. There
were attempts to study internet marketing. This article is theoretical in
nature and several websites were used for data.
Internet and Marketing Mix
Today, the concept of Internet marketing has expanded and brought
more opportunities for companies to get closer to their customers. In
the past, the Internet was only used to contact customers as part of
direct marketing. Today, the Internet, especially websites, has become
a popular tool for all businesses to promote their products and
services. The Internet is considered an independent and effective
marketing tool.
266
Recent Trends in Multidisciplinary Research and Development: Volume-1
Marketing is an arrangement that provides an opportunity to exchange
goods and services for money. A market includes both an exchange
and an area where buyers and sellers freely compete with each other.
Marketing teams (marketers) are tasked with raising consumer
awareness of products or services using marketing techniques. If it
does not pay attention to its products and services and consumers and
due to demographics and desires, the business usually does not
succeed over time.
Marketing is essentially the process of creating or directing an
organization to successfully sell a product or service that people not
only want, but are willing to buy. Therefore, good marketing must be
able to create an "offer" or a set of end-customer benefits that create
value through products or services.
The Internet offers new opportunities to the traditional marketing
model, it must be viewed on the basis of a traditional but still
effective marketing mix. The marketing mix plays an important role
in e-commerce; decide which type of advertising is best for customers
online.
Four P’s-
Marketing mix is a combination of product, distribution system, price
structure and sales promotions. Marketing mix is probably the best
known marketing term. Its elements are the main tactical components
of a marketing plan. Also known as Four P’s. Some commentators
add a marketing mix to five to get people involved. Others add a
combination to Seven P’s including physical evidence (eg, uniforms,
spaces, or colors) and process, i.e., the entire customer experience, eg,
a visit to Disney World (Borden 1964). Advances in technology
naturally affect all of this, and the internet isn't just about product
promotion, it's about placement, distribution and product promotion.
According to Philip Kotler, Products are a solution to customers'
wants and needs. It refers to the characteristics of a product, service or
brand. A product- It is a good or service that a company offers to its
customers. The Internet provides opportunities for basic product
changes, extended product exchanges, online research, accelerated
new product development, and accelerated new product diffusion.
Many digital products can now be easily purchased over the Internet
from service providers; website for other products, many companies
publish detailed product information with pictures or images instead
of actually shipping the products to customers. The Internet offers a
new means of quickly gathering customer feedback and accelerating
267
Recent Trends in Multidisciplinary Research and Development: Volume-1
new product development, as the process of testing new products is
faster and more efficient.
Price- This is the most flexible element of online marketing
compared to the other three elements of the marketing mix because it
can be changed quickly according to the market and demand.
Businesses can use the Internet to create price differences for different
customers in different countries based on the 4P of electronic
marketing.
Internet Protocol (IP) analysis methods. Buyers can find out the price
differences by visiting the companies; or on price comparison sites. In
addition, the Internet also lowers costs and product prices, reducing
store operating costs and the number of employees. Along with these
advances, many new payment methods are being created. Online
payment by credit card is the most popular, efficient, convenient and
flexible way for companies and customers. Bills can be paid anytime,
anywhere. In addition, businesses can reduce costs by reducing
paperwork as customers fill out all the necessary information, such as
their personal information and credit card information. In addition to
these conveniences, online customers still have to worry about
securities and privacy. Therefore, some third parties offer services to
protect consumer privacy and secure transactions. PayPal is one of the
most successful companies in the industry.
Place- This marketing mix P refers to the physical distribution of
goods. It concerns intermediaries and the place where goods should
be displayed and made available to potential buyers. The development
of the Internet offers a new way to distribute goods through online
shopping. Customers can make their purchasing decisions anywhere
and anytime. The internet has the greatest influence in the marketing
mix because it has a large market. Companies can now expand their
business from local areas across the country, even to international
markets. They can also use the Internet to enter new markets through
cheap international advertising because they don't have to build a
sales infrastructure in different countries.
Promotion- It is one of the four marketing mix variables. Advertising
is activities that are marketed to sell products and services. It refers to
how marketing communication is used to inform customers and other
stakeholders about a company and its product. Advertising is most
important when a company launches a new product, determines its
price and decides the region where it will be sold. The online
268
Recent Trends in Multidisciplinary Research and Development: Volume-1
campaign option is an extension of the offline space. With the help of
the Internet, new ways of implementing each element of the
communication mix such as advertising, sales promotion, public
relations and direct marketing can be explored. To promote the
product, the company provides free images, presentations and other
related information on its website.
Types of Internet Marketing
Search Engine Marketing (SEM) The Internet has made it easier for
consultants to reach large, targeted consumers. Network marketing is
based on an effective network that attracts visitors, provides them
with useful resources and encourages them to contact their financial
advisor. SEM is a form of online marketing that targets users of
search engines such as Google, Yahoo, Bing Search engine
marketing, or search engine marketing, consists of cumulative efforts
to promote a website in paid and free search results. SEM is the most
important engine of business growth and customer acquisition for
many online stores. Search engine marketing (SEM) is a form of
Internet marketing in which websites are promoted by increasing their
visibility on search engine results pages (SERPs), primarily through
paid advertising.
Email marketing
Email marketing is a way to reach consumers directly through email.
Email marketing is a popular way for businesses to reach customers.
Email marketing is the use of email to advertise products and
services. It helps develop relationships with prospects and customers.
Email marketing is one segment of internet marketing. A marketing
company sends a commercial message to a group of people using
email. Mostly, any email communication through advertisements,
business requests, sales or gift requests is considered as email
marketing, it helps to build customer loyalty, trust in a product or
company or brand. Email marketing is an effective way to keep in
touch with your customers and promote your business at the same
time.
Social Media Marketing
Social Media Marketing is a type of online marketing. It provides
social media platforms and websites for product or service promotion
as well as various social media networks for marketing
communication and branding. Social media marketing mainly
includes the social sharing of content, videos and images for
marketing purposes and paid media advertising. SMM became more
common with the rise in popularity of websites such as Twitter,
Facebook and YouTube.
269
Recent Trends in Multidisciplinary Research and Development: Volume-1
Blog Marketing
The term blog comes from combinations of website and log or blog.
A blog is an information website published online. Blog marketing is
the process of reaching a target market using a blog. It is the process
of publicizing or promoting a website, company, brand and product.
Today, many entrepreneurs use a blogging platform such as Word
Press. There are free blogging platforms like Blogger and
Wordpress.com to maintain a professional look that allows you to
create your unique product brand. Blogs are like news sites that are
updated with new content.
Viral Marketing
Viral marketing, or viral advertising, are techniques that use social
networking services and other technologies to increase brand
awareness or achieve other marketing goals (such as product sales)
through self-propagating viral processes. It refers to how consumers
share information about a product with other people in their social
networks; viral marketing is a marketing technique that causes
websites or users to forward a marketing message to other websites or
users, potentially increasing the message and its exposure and
influence. A popular example of successful viral marketing is
Hotmail, a company now owned by Microsoft that advertised its
services and its advertisers; messages in each user's notes and emails.
Advantages of Internet Marketing
The Internet can provide customers with timely information because
of its ability to communicate instantly and because it is available 24
hours a day, 7 days a week. Internet marketing offers greater choice
and flexibility while eliminating huge inventory, storage costs, utility
costs, space rentals, etc. People tend to associate internet marketing
with direct marketing because internet marketing companies tend to
have shorter supply chains and lower commissions and operating
costs.
The ability to act as a business tool and a physical distribution tool for
certain goods is a unique feature of internet marketing. Such benefits
can best be realized by companies that offer digital products or
services such as software, music, news, consulting services, online
ticketing and reservation services, telemedicine, insurance, banking,
stock brokerage, taxation and other financial services.
Using the Internet as a distribution channel can significantly reduce
shipping costs, but also ensures immediate delivery of products. In
270
Recent Trends in Multidisciplinary Research and Development: Volume-1
addition, online research is becoming an increasingly important tool
in the buying process. Marketing departments today invest more in
online marketing because it:
Appeals to an important demographic of most customers. It can
reach the target customer effectively.
Faster and cheaper execution of direct marketing campaigns.
Measurable, meaning that successes are identifiable and
repeatable
Cost effective, long term.
Disadvantages of Internet Marketing
Internet communication does not involve actual face-to-face contact.
Internet marketing may be less suitable for product types that rely
heavily on building a personal relationship between buyers and
sellers, such as selling life insurance and products that require
physical inspection. Although online marketing cannot allow potential
buyers to touch, smell or taste; products, but research on cosmetic
product consumers shows that with the help of email marketing, the
consumer can be brought to the store to try the product or to talk to
the sales representatives. Some of the disadvantages of electronic
marketing are technological reliability, security, privacy issues, and
maintenance costs due to a constantly changing environment, greater
price transparency and increased price competition, and global
competition due to globalization.
Conclusion
Based on our research, the Internet not only brings a different image
to all elements of the marketing mix, but also brought a new way to
approach potential customers in a very interesting, creative and cost-
effective way. This article is about the conceptual knowledge of
internet marketing. The current development would be a valuable
addition to researchers and scholars; and useful theory for operators,
promoters and entrepreneurs. Some of the disadvantages of electronic
marketing are technological reliability, security, privacy issues, and
maintenance costs due to a constantly changing environment, greater
price transparency and increased price competition, and global
competition due to globalization. Security is no longer an issue as
software companies, banks and credit card companies work hand in
hand to improve internet security. Companies must protect
themselves in three areas: data integrity, data confidentiality and
authenticity by installing firewalls or routers. Customers look for
business online because there are unique opportunities to market a
271
Recent Trends in Multidisciplinary Research and Development: Volume-1
business and service, sell products and gather information online. In
the next 3-5 years, India will have 30-70 million internet users, equal
to, if not surpassing, many developed countries. Internet economy
then makes more sense in India. With the rapid expansion of the
Internet, electronic commerce plays a very important role in the 21st
century, and the new opportunities that open up are within the reach
of both large and small businesses. This is a new era of innovation;
where everyone communicates online. A live video session is
available and the prospect may be able to speak with a customer
representative directly over the Internet.
References:
1. Frost, R., & Strauss, J. (2016). E-marketing. Routledge.
2. Milder, N. D. (2013). e-marketing. Economic Development
Journal, 12(3), 34.
3. Chaffey, D. (2012). E-marketing. In The Marketing Book (pp.
667-698). Routledge.
4. Strauss, J., & Frost, R. (2014). E-marketing. Pearson.
5. Kalyanam, K., & McIntyre, S. (2002). The e-marketing mix: a
contribution of the e-tailing wars. Journal of the academy of
marketing science, 30(4), 487-499.
6. Gilmore, A., Gallagher, D., & Henry, S. (2007). E‐marketing and
SMEs: operational lessons for the future. European Business
Review, 19(3), 234-247.
Ms. Jayashri Sadanand Lokhande
Research Scholar, Department of Commerce and Management,
Shivaji University, Kolhapur
Email : jayashrilokhande.jl@gmail.com
CHAPTER 22
FINANCIAL TECHNOLOGY (FINTECH)
INNOVATIONS IN INDIA A COMPREHENSIVE
272
