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E-marketing Bachelor - Essay Example

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E-marketing Bachelor

This report focuses on the development of market of an existing UK furniture supplying firm through the instrumentality of e-marketing which is essentially a term used to refer to the process of addressing categories of market segments over the internet using the capabilities afforded by the information technology. This kind of marketing may involve a majority of informational content or it may be a combination of informational contents and an interface that accepts orders and payments. The proposal would use the SOSTAC model to develop an e-marketing plan for the furniture business. PR Smith (2006) states that , "While many people seem to use the SOSTAC acronym as a generic term, it derives from the SOSTAC Planning System created by writer and speaker PR Smith in the 1990's, and is actually a protected registered trademark (registration number 2219677 to be precise). The SOSTAC model and associated methodology are now used by blue chip corporations around the world and also by many smaller businesses and organizations". SOSTAC acronym stands for:
PR Smith (2006) puts the marketing plan and the SOSTAC model in the strategic perspective when it states the following, "Finally, one question that commonly arises: Where would you put Target Markets, Marketing Mix and Positioning in SOSTAC The answer is that Target Markets pop up almost everywhere. Target Markets are so important that once you have identified them in the objectives, they pop up all over a marketing plan - in the situation analysis, objectives, strategy, tactics and so on. A summary of the current marketing mix and positioning will appear in the Situation Analysis under a 'review' section. The future mix and positioning and target markets are often summarized under Strategy and explained in detail under Tactics".

Situational Analysis

Present Scenario- The UK furniture market

Literature has been predicting healthy growth rates for the home furniture markets. Healthy growth rates imply that such rates are neither spectacular nor very low. "With an estimated value of over 210 million in 2005, the home office furniture market is forecast to maintain reasonably healthy growth rates in the short-medium term, depending on external economic and other micro market factors.(Home,2006)

In terms of looking at the trends in the demand for the products; the trends that have emerged from early 2000 have been consolidating and repeating themselves over the years. While the last 7 years trends have indicated that the customers preferred elegance combined with simplicity and space and cost effectiveness; a newer refinement has been in terms of modern designs that are durable and long lasting. "In terms of NPD, stylishness is likely to be big. Demand for good quality, compatible pieces could ...Show more

Summary

Selling and developing business has become a highly competitive business in the global market arena with the globalization of the markets which are securely integrated by the World Wide Web and the information technology. While companies of all sizes are seeking a piece of international markets another trend which is being witnessed is towards consolidation of the domestic markets using the strength provided by the World Wide Web and the information technology…
Author : tamia26
E-marketing Bachelor Essay essay example
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