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• Stage One: Setting Corporate and Business-Unit Strategy– Corporate strategy addresses the interrelationship between the variousbusiness units in a firm, including decisions about which units should bekept, sold, or augmented. Business-unit strategy focuses on how aparticular unit in the company attacks a market to gain competitiveadvantage.• Stage Two: Framing the Market Opportunity– Stage two entails the analysis of market opportunities and an initial firstpass of the business concept—that is, collecting sufficient online andoffline data to establish the burden of proof of opportunity assessment.Rtist @ Tourism
• Stage Three: Formulating the Marketing Strategy– Internet marketing strategy is based upon corporate, business-unit, and overallmarketing strategies of the firm. The marketing strategy goals, resources, andsequencing of actions must be tightly aligned with the business-unit strategy.Finally, the overall marketing strategy comprises both offline and onlinemarketing activities.• Stage Four: Designing the Customer Experience– Firms must understand the type of customer experience that needs to bedelivered to meet the market opportunity. The experience should correlate withthe firm’s positioning and marketing strategy. Thus, the design of the customerexperience constitutes a bridge between the high-level marketing strategy (stepthree) and the marketing program tactics (step five).• Stage Five: Designing the Marketing Program– Stage five entails designing a particular combination of marketing actions(termed levers) to move target customers from awareness to commitment. Theframework used to accomplish this task is the Marketspace Matrix. The Internetmarketer has six classes of levers (e.g., pricing, community) that can be used tocreate target customer awareness, exploration, and commitment to the firm’soffering.Rtist @ Tourism
• Stage Six: Crafting the Customer Interface– The Internet has shifted the locus of the exchange from the Marketplace(i.e., face-to-face interaction) to the Marketspace (i.e., screen-to-faceinteraction). The key difference is that the nature of the exchangerelationship is now mediated by a technology interface. This interfacecan be a desktop PC, subnotebook, personal digital assistant, mobilephone, wireless applications protocol (WAP) device, or other Internet-enabled appliance.• Stage Seven: Evaluating the Marketing Program– This last stage involves the evaluation of the overall Internet marketingprogram. This includes a balanced focus on both customer and financialmetrics. It emphasizes customer actions as well as financial metrics usedto track the success of marketing programs.Rtist @ Tourism