Time is money. And probably the quickest way to save time and create business, thereby generating income, is through e-commerce. But there is still a relevant question related to whether e-commerce business between consumer and the marketer would, in future, completely outplace the retail business currently taking place at the retail outlets. Though on average, Internet sales are around 1% of total retail sale, the question is justified given the stupendous growth of E-commerce in the event past, the immense growth potential.
Marketers must decide at which level(s) to anchor the brands identity. The most enduring of a brand are the values, culture and personality. They define the brands essence. But e-brand is different from traditional retail brand. There have been a lot of problems with the literature as no definition of e- brand was given. As per the definition of e-brand:
[...] Many companies are going against the laws of nature when they try to build Internet brands on the convergence concept. "Are you getting three different kinds of electronic messages - voicemail, email and fax? Fine, we can fix that for you." The new all-in-one services are called "unified messaging." Instead of having to dial into your voicemail, open your email or check your fax machine, you just go to the sponsor's web page and get all your messages. What's wrong with a unified messaging service? [...]
[...] A big company often fails to exploit new opportunities because it is a "perfectionist." It won't release a new product, a new service or a new Internet site "until we get it right." On the Internet, timing is everything. Just do it. The Law of Vanity The biggest mistake of all is believing you can do everything. Success in business doesn't just show up on the bottom line of the profit-and-loss column, it also goes to the top. Success inflates the egos of top management. [...]
[...] Need for branding in Cyberspace Branding in cyberspace is important to both traditional companies and those that have started up on the net for the first time. Many well-established companies have already gained a significant presence on the Internet, if not; they will lose sales and customer loyalty to some of the new net-based companies. The two main issues for companies today are how to extend their existing brand image through this new medium, the Internet, and now to minimize the loss of business from virtual competitor. [...]
[...] The Law of the Common Name The kiss of death for an Internet brand is a common name. In pre-Internet days, a brand always had a visual component. While the name was the most important element, the visual also influenced the brand's purchase. The Internet wipes out the visual. To tap into a Website, you type in a word. No pictures, no colors, no typography, no look, no location. If the name is so critical, then why are most brand names on the web so bad? [...]
[...] Quite the contrary, the Internet has and will continue to spawn an enormous increase in advertising volume, except it will be off the Net rather than on the Net. As the Internet grows up, you are going to see an explosion in Outer net advertising. And much of this advertising will be directed at creating customer for Internet brands. In particular, radio will turn out to be an ideal medium for dot.com advertising. On the Internet the name is everything. [...]
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