Units Coursework Example | Topics and Well Written Essays - 10000 words - 2

Units - Coursework Example Internet marketing is â€Å"essentially everything that you do, both online and offline, to influence people to buy your product or service from an online medium such as a website† (Michie, 10). There are some principle benefits from internet marketing like low cost involved and easy reach to customers across the world. With the help of internet marketing, sales can increase rapidly since millions of customers can make easy access to a company’s website and gain knowledge about its products and services. Email communication has become a popular mode of staying connected with customers. For customers it is no longer necessary to rely on telephone for getting information about a company as most companies have their own websites. Thus, with the help of internet marketing it has become easier to achieve business objectives of enhanced sales and huge customer base. Also, internet marketing makes more effective targeting and segmentation since it is possible to keep track of which products have most demand. Moreover, with the internet it is possible to address specific group of customers with similar likes and dislikes. All these will help the company make products according to target customer demand. Market segmentation can be demographic, geographic, psychographic and lifestyle. Demographic segmentation is based on age, social class, gender and income. Geographic segmentation is based on regions where customers belong to since customers from different countries or whether they are in towns or cities of same country display different demands and purchasing capacity. Psychographic or lifestyle segmentation is based on customers’ personality, opinions and interest. Also, the 7ps (product, price, promotion, place, people, process, physical evidence) of marketing mix is very important in internet marketing. Internet is a reliable tool for assessing the demand of a product. Once demand pattern