Company Overview
Digital marketing is the process of business advancement through the latest technologies and amalgamation of strategies in business. Thus situation handling and marketing acceleration of product demand encourage the digital marketing process. It is a kind of promotional approach of the service that ensures better productivity of the company. Digital marketing campaigns are also important for the achievement of goals and objectives (Ryan, 2016). Development of buyer personas and set target market is important in that case. The branding strategies are important in case of achieving the best response from the market. The approach of product, price and placement in digital marketing is important in that case. The informative approach in digital marketing helps the entire process of marketing and encourage business advancement. The purpose of the report is to analyse the digital marketing process of eBay and different strategies involvement for the advancement of the company.
The American multinational e-commerce based company deals in the consumer to consumer and business to business sales through the online marketing process. This is a huge ground for customers to sell and buy products in an open market. eBay is creating a better form of commerce (ebay.com, 2018). In the case of digital marketing, online process of having products is a kind of leisure approach that people have found nowadays and online retail companies are taking advantages of that. The company was incorporated on March 13, 1998. The company was in the platform of open marketplace and classified section (ebay.com, 2018). Different products are there and that accumulated in a proper form so that people find their desired things in a proper way. Individual stakeholders are 9.62% along with the mutual fund holders are 45%. The classified group of business, stub hub and the global presence of the company make a sustainable outcome of the company (ebay.com, 2018). The company has 175 billion active buyers and they need to extend their margin in terms of serving customers. The company also have buyers in 190 markets and it is considered a top 10 global retail business in the world (Priem, Wenzel & Koch, 2018). The company measure the success by the advancement of customer success. The unique product section and maintaining quality is the major prospects for the company. This is the platform that ensures customer value and processes their amenities through the success of the organisation.
eBay has some effective competitors like Amazon, Flipkart, Myntra and other online e-commerce stations (ebay.com, 2018). Innovativeness and advancement through the business portal is a major issue in that case and customer satisfaction through product advancement is the major aspect of such a situation. The possible internal environment analysis provides an opportunity to understand the market standard of the company.
- The global image of the company is high and people have trust and faith over their products.
- There are 2 million active buyers worldwide in 2016 (Muzellec, Ronteau & Lambkin, 2015). More than 167 million people are now associated with eBay and this is one of the biggest achievement for the company (ebay.com, 2018).
- The company has circulated their network in large sections. The gross merchandise volume of $84 Billion, which is the leading gross merchandise in 2016 (ebay.com, 2018). Through the large area network active buyer has grown by 5 million in 2016 and after that 2 million was increased in quarter basis.
- The digital growth of the company is the production priority of the company. There are some developed interfaces and there are some reliable sources that accumulate the process of technologies and services (Gulati & Soni, 2015). Better technologies will provide better chances of service quality. The technological infrastructure important and advanced in eBay.
- Stub hub is the world largest ticket marketplace. The process delivers an easy way of ticketing. The expansion of the process is more than 45 countries (Lanzolla & Giudici, 2017). The brand is also required in that case market promotion, so good quality service and improve ticket inventory management help the process advancement.
- eBay Valet is the value proposition process and more than 100,000 users have been experienced through this process (ebay.com, 2018). The partnership is being extended by eBay for valet and that will be effective for the advancement of business.
- Technological innovations are the major drawback in eBay. They are lagging in case of technological advancement and have to build a strong management for the formulation of market sustainability.
- There are some technical issues like integration issues, backup and disaster recovery challenges, security risks and lack of IT planning have been faced by the company and the due to such situation transactional problem and some customer harassment incidents happened.
- Internal control over financial reporting is important for the market reach and the inner strength to consolidate the business in the market (Stott, Stone & Fae, 2016). eBay is not good in financial reporting and managing the situation, thus they need to ensure their stock prices, business reputation (ebay.com, 2018).
- Brand management is not apparently good for eBay and that is the reason, market control and diversification is business is not quite possible. The responsiveness and control over the market strategy are important but eBay needs to control their growing sector to move better position in the market.
- The brand acquisition with PayPal and Stub Hub help them to grow their business in the easy buying process. The brand delivers a different kind of products and all those products maintain the quality and effectiveness in the market.
- The mobile application of eBay provides an opportunity for customers to avail of the system easily (Priem, Wenzel & Koch, 2018). The world is moving fast so as the time, people do not have enough time to search through laptops or desktops, thus mobile application makes more sense for buying products.
- Innovative marketing strategy for emerging market will help in penetration. eBay delivers that and provides the new opportunity for the new market as well. The deeper absorbing nature of business helps them to analyse the market objective and pressure.
- Competitors are the most challenging issues for eBay and they also have some effective strategies to grow their business (Chauhan & Sarabhai, 2018). Amazon, Flipkart, or retail giants like Walmart and Costco have the good business market and that is the reason eBay needs to think better strategic marketing planning for the development of the business.
- The regulatory framework is another threat to the company. The operational cost in economic brands varies as per the quality and product and eBay needs to control the framework.
- There are some labour problems and import-export regulations on eBay. Regulatory and competitive mindset needs to be revised for eBay so that trade regulations are maintained in a proper way (Leeflang et al., 2014). Fluctuation in business may happen and economic imbalance can be possible on such occasion.
The digital marketing process states some effective objectives in case of branding the company. An improve conversion rate is very important for the company. The brand awareness of product and market promotion is important and that is the reason more awareness needed from the company (Chauhan & Sarabhai, 2018). The greater market share of the company helps them in competing with other companies as well. The major objectives of digital marketing are:
- To increase the sales rate of the company by using key performance indicators
- To develop a proper application so that customers can easily access the website
- To manage the branding in a proper way and improve the conversion rate help the ultimate business
- To make some effective strategies to control business in places and an effective marketing mix associate the business in different sections
Situational Analysis
The target market of eBay is mainly consisting of online customers and their interest for the innovative product at a low rate. The market research signifies the division of target market. The product distribution is in urban as well as in rural areas helps business acceleration (Grover et al., 2018). In the case of a demographic process, the target has been set by the approach of people. Some people love to use the different texture of garments, apparel, shoes, stationery items, pieces of jewellery, and other daily needs. They are not willing to change the product they are used to and that is the reason the target market set is important for the company. The behavioural approach is the key process in this case, the degree of loyalty, benefits from the product services and personality of an ambitious process help the business.
In the case of branding, eBay needs to deliver something innovative from their perspective so that market development of the company reaches the next level. There are different e-commerce companies and all of them have a good market for business in different sectors. Brand depends on the class of the people, their affordability, their need and their reach to get the product (Jaring et al., 2015). If the product price is high then people do not afford those products in good numbers, thus eBay maintains a strategy of providing products in an average cost and that explores the opportunity of the company in the national and international market.
In case of positioning strategy, eBay delivers product and service identity for the determination of service identity in the niche market. The product line of eBay and customer needs is benefitted by the effective marketplace culture and market position. In the case of positioning, target market and competitors are the main highlighted sections. Through the target market, the company can set their business policy and also offer their products for the specific target market (King, 2016). On the other hand, through the positioning process, market acceleration of other companies and the advancement made by eBay clearly explained. Amazon, Flipkart, Jabong, Etsy, Bonanza, eBid, Newegg, and Rakuten all these companies have good market positioning, thus good promotional strategy through digital media helps the process for eBay.
In the case of product strategies, online portfolio management is the key step that eBay has to cater. The company focuses on the need of the customers and that reflected through their attitude and approach. There are different product strategies found through their business development.
- Marketplace services and catering demand in different national and international market is the key approach in that case.
- Ticket exchange service is another product strategic management that helps product availability in different places (Holroyd, 2018).
- The global business range helps the brand to earn some positive responses from worldwide and that encourage the business opportunity as well.
- This is a composed online trading platform and transaction of money is also online so fair and transparent marketing deal and composure is there.
In the case of pricing, this is the most important section as the ranges of price determines the product acceleration in the market. Low-cost price will help products to spread in the market. The involvement through low-cost price in e-commerce services has good range in business globally (Vrontis, Thrassou & Amirkhanpour, 2017). The pricing strategies are mainly based on
- Market-oriented pricing strategy and that signifies the different range of price for the same product in the different market. The reason behind the change is the adaptability of the product at that range.
- Dynamic pricing policy helps in fixed pricing and final sale amount. The flexible price helps the business to stable their acceleration in all over the world (Holroyd, 2018).
- Optimizing profit through the growth of sales revenue makes sustainable progress in business.
- The sales format is needed to be changed and that experienced a better revenue generation through product selling.
Product distribution strategy is based on the different channels and transaction of business. The venues are decided on the basis of the target market and that is the reason most of the venues are pre-decided after the market study (Holroyd, 2018). There are different technologies as well to improve better customer experience and that will help the business in advance perspectives. The basic distribution strategies signify
- The official website for the company so that customers can see the product benefits and the price differentiation through the website. The review from the website and the market engagement through the website helps the entire process of business success.
- The mobile application is the easiest way to distribute products and target market can be easily accessible through the process (Holroyd, 2018).
- Application programming interface helps the process of optimizing business through product selling and marketing.
Digital Marketing Objectives
The digital marketing plan is based on media strategies. Through the social media bookmark links to web page and blog, pages come from the platform and that is the reason basically social media will endorse the product in the global market. Tumblr is used for the brand inspiration and that encourage the digital marketing for eBay. Communication through digital marketing modes is connected through Twitter, Instagram and even from different blogs as well (Kim, 2018). Facebook is also trying to link with companies so that open platform will happen where people can share their feedbacks. Online publicity of products and e-mail marketing of such products helps in case of product distribution. People will get aware of this process and advertisement in digital and online and in flex or banner process helps the market advancement. Through the better website design and optimization of resources, the company will get good market through the digital marketing process. The importance of communication is mainly addressing the product queries and grievances and company have to put some relevant answers from their end. The executives are there for that reason (Holroyd, 2018). However, the brand positioning and market advancement depend on the online advertisement and product quality in business. eBay will find some better business opportunity if they organise some open market distribution. The promotional approach through social media highlights such things and that encourage the business at its best.
The monitoring approach signifies the business level result based approach. The result based approach delivers the meeting of objectives. The fulfilment of objectives and collective engagement in business make proper outcomes in the global market. Constructive approaches to monitoring help the process and that encourage improve a change in business (Holroyd, 2018). A dominant movement is distribution experiences from diverse perceptions by different persons and that encourage business activity in different places also (Kim, 2018). The evaluation approach will be a reflexive approach and the monitoring process develops the reality of objective and possible outcome from that point a view. The institutional setting and existing practices maintain a focus line so that business will gain momentum and create opportunity in business.
Conclusion
The paper can be that eBay has a good opportunity in case of using social media for their promotional activity. The activity is approaching towards the business strategies and online marketing so that a mass people will know about the brand culture and authority of business. The advancement in business is possible by the effective approach of market handling and evaluation of the company. The internal environment analysis along with the branding and positioning helps the business to evaluate the right position and that encourage the business opportunities as well.
References
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Ebay.com (2018) eBay retrieved from: https://www.ebay.com/ [Accessed on 13th November, 2018]
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Stott, R. N., Stone, M., & Fae, J. (2016). Business models in the business-to-business and business-to-consumer worlds–what can each world learn from the other?. Journal of Business & Industrial Marketing, 31(8), 943-954.
Vrontis, D., Thrassou, A., & Amirkhanpour, M. (2017). B2C smart retailing: A consumer-focused value-based analysis of interactions and synergies. Technological Forecasting and Social Change, 124, 271-282.
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