Hope all is well at your end? While traveling to Shimoga on last weekend I had put down this quick mindmap. Enjoyed pleasant weather and wonderful breezes there (Jog Falls at its best now). At the same time lot of buzz in Indian e-commerce market-
- Flipkart goes through a fresh round of funding of $160 million, taking the total in the fifth round to $360 million
- According to IAMAI- eCommerce is expected to grow to $200 billion by 2020 in India
- eTailers have lined-up verity of interesting offers in this festive season e.g. Shopclues introduces Dynamite sale:)
e-Business Marketing Mix
Everyone knows, how much a balanced mix of right ingredients is essential to prepare a delicious recipe. A slight error in judgment and alteration in only one ingredient’s ratio may spoil the taste of whole recipe. Similarly, a successful business requires a balanced and a carefully crafted marketing mix of strategies. Fundamentals of offline business can be replicated for online business as well. Often online business team has limited interactions with the customers (plus no F2F interaction) therefore it is imperative that team creates opportunities for overwhelming experiences for their customer and set high standards of performance. All a team needs to do is carefully interact with all the elements of marketing strategy and implement it wise.
Figure 2 – Deep dive on e-Business marketing mix