Assignment:
1.) Critically evaluate the strategic importance of interactive marketing and demonstrate an ability to appraise the relevance of the concepts and techniques embraced within.
Creatively develop aspects of interactive marketing programs and evaluate these.
Report will be based on www.maybank.com
2.) STAGES
A) Industry and competition- Analysis of www.maybank.com which will include the industry/product sector it belongs to, with details of competitors, market share and revenue.
The internet business models of the industry and value generation mechanisms for each in responding to the opportunities.
General business models used by Maybank
Suggested business models to be used by Maybank
The good and bad practices in E-marketing of www.Maybank.com not limiting to just the website.
B) Segmentation and targeting- following stage one which provides relevant industry knowledge, the following needs to be carried out:
I) Identify and describe the parameters of the market segments and sub segments for www.maybank.com. Identify the bases of segmentation like demographic, psychographics, values, and needs etc: investigating customer/user requirements-analysis of market trends, consumer behavior and likely customer needs.
II) Explain whether the target segment is in line with www.maybank.com. Critically evaluate the target market, suggest market target and make suggestions for improvements and show how to target other segments of the market. Defend your criteria for declaring your market segments as viable e.g. measurable, reachable and profitable
[This is an intensive research stage. It is critical and extremely essential that all presented information is verifiable I.e. referencing in-text and at the end. Again only verifiable (that is referenced) information is acceptable]
C) Positioning against competition-positioning www. Maybank.com company/products for your target market against the competition. Produce a positioning proposition detailing and justifying how effectively www.maybank.com fits your target market:
I) State the organization's value proposition and the strategic approach that can be deduced from the company website
II) In the light of the completion, identify your key competitors and detail how www. May bank.com Malaysia will compete against them. Determine whether the organization will attempt to differentiate its products or what positioning strategy it will use as a principal source of appeal to the target customers
D) E-marketing strategy to be implemented and justifications-
I) Identify and explain www.maybank.com website's objectives and strategies in detail
II) Make E-CRM recommendations for improvement taking into account your positioning strategy above and the website objectives
III) Use interactive marketing tools including mobile, SMS, web and email together with the more traditional methods such as direct mail, direct response advertising and telemarketing
E) Design and evaluation- considering the role of design and content in encouraging repeat visits to the website and generating sales.
I) Identify criteria to measure the website effectiveness in meeting goals for its industry/product sector in generating traffic and producing sales. Include actionable procedure/testing mechanisms.
II) Based on the criteria above(2-E I) detail the strengths/weakness of the website with effective ratings
III) Make creative suggestions for an appropriate enhancements/improvements to the website
3) Things that must be made clear includes; business models used by www.maybank.com, advantages and disadvantages of all the models and critical evaluation and discussion. Issues dealt with deeper and on an analytical plane based on good research -with industry examples, data projections and commentaries. Balanced research materials - Appropriate and different sources which must include sufficient academic research, not just secondary research from URLs. Heavy penalty if this is ignored.
Referencing and citation-Harvard referencing is must. Penalty for plagiarism
Note be taken; you must be able to critically evaluate www.maybank.com website based on good research with industry examples, data projections and commentaries. Each point supported with valid explanation and show good understanding of subject matter.
Use the four market segments
Use a minimum of seven books references. Make use of white paper, journals, research papers etc
Give different definitions for e-crm, and other interactive tools
Word count is 2500. Additional notes like justifications should be placed in appendixes which will make up another 2000 words.