Marketing Channel For Digital Marketplace -Myassignmenthelp.Com

Question: Discuss About The Marketing Channel For Digital Marketplace? Answer: Introducation With the change in the business environment, there has been a change in the factors which create an impact on the buying behavior or purchase decision of the customers. Technology is being used by the customers for providing their views towards the products or services used by them. Blogs, online platforms, and websites are being used by the users for expressing their views for a product. Organizations are operating with a motive to attract the customers and enhancing the customer base (Chiang Hsieh, 2011). Online reviews of the customers regarding the products or services have gained much importance as these reviews play a vital role in customer decision-making process. Customers are well-informed and are using online platforms for the purpose of providing reviews for the products or services consumed. Information regarding the products is provided to the users on the blogs or online platforms. This increase in the trend of online reviews has changed the buying behavior of the cust omers. Customer reviews create an impact on the opinion of the customers towards the product or service (Kaplan Haenlein, 2009). This essay will discuss the concept of blogs and customer reviews, customer purchase decision, and impact of the blogs and customer reviews on the purchase decision process of the customers. With the change in the buying patterns and shopping trends, customers have changed the manner to analyze the quality of the products. Blogs are considered as a place where users or potential users can read the reviews of the services or products. Organizations are hiring experts with a motive to write down reviews for the products so as to influence the individuals and enhance the customer base of the organization. Blogs are the online services which create an impact on the purchasing decision of the individuals. Different organizations are using blogs for as a medium for affecting the buying behavior or decision of the people. Reviews of the customers and revenue of the business are directly linked to each other and reviews of the customers also create an impact on the loyalty of the customers (Cronin, et. al., 2010). There are various innovations or trends occurring in the business environment. For the purpose of operating in the dynamic business environment in a successful manner, organizations need to adopt the latest trends and innovations. With the growth of new media, blogs and online platforms have gained importance. With the growth of digital technologies, customers have started using the internet and these digital technologies for sharing their opinions and feelings. The opinion of the consumer is considered as the electronic word of mouth which has the potential to create positive as well as negative impact on the products or services. Blogs are being considered as a medium for reaching a large number of customers (Chintagunta, et. al., 2010). For example, Twitter is being used by the customers for expressing their reviews towards the products or service consumed by them. JetBlue has used Twitter for engaging the customers and responding the customers quickly (Burke, 2016). Bloggers have acted as opinion leaders as their views affect the opinion of the customers. Bloggers are using blogs for the purpose of creating an impact on the attitude formation and future purchase decisions. Blogs and customer reviews act as an inspiration for the others and motivate the individuals for purchasing the products or services. Blogs or customer reviews are being used by the customers as a low-cost approach for gathering information regarding the products and determining the buying decision. Different bloggers are writing regularly for the consumption experiences gained by them from the consumption of the products or services (Money, et. al., 2011). For example, Xbox has been considered as one of the most expensive brands on Twitter. Xbox is providing fast response to the feedbacks of customers so as to enhance the satisfaction level of the customers (Burke, 2016). Customer purchase decision can be explained as the process of taking a decision by the customer regarding the purchase of the product or service. The intention of the customer to purpose the product or service is based on the willingness of the individual to buy and ability to make payment for the products or services. There are various factors which create an impact on the customer purchase decision. These factors include the impact of the blogs and customer reviews, personal factors, social factors, economic factors, social media and psychological factors. For every business, it is essential to gain an understanding of the importance of consumer behavior for gaining competitive advantage in the business environment. For the purpose of creating an impact on the buying decision of the customers, there is a need to develop knowledge of the buying behavior of the customers (Money, et. al., 2011). In the words of Hashmi (2012), it is quite tough for the businesses to predict the behavior of the customers regarding the product or service offered by the business. Different stages are included in the consumer buying process which guides the decision of the consumer regarding the purchase of product or service. Consumer decision-making process is a complex process and for attracting the consumers towards the products or services, businesses have to satisfy the needs and expectations of the customers. Blogs and customer views regarding the products or services can result in positive as well as negative impact on the consumer decision-making process. Positive reviews of the customers enhance the satisfaction level among the customers which helps in attracting the customers. Negative reviews of the customers and bloggers can affect the satisfaction level of the potential users in a negative manner (Yang Ghose, 2010). Sales and performance of the organization get affected due to the satisfaction level of the customers. This dissatisfaction is being shown by the customers on blogs and online platforms in the form of reviews. For finding the information related to the product and quality of the product, customer reviews are considered by the potential customers. Information provided in the form of consumer reviews is considered more reliable by the potential customers rather than the information provided on the packaging, advertising, websites and other internet sources. The focus of the businesses has shifted towards the customer reviews so as create a positive impact on the decision-making process of the consumers and potential consumers (Kung Zhang, 2011). Organizations are using different ways for the purpose of enhancing the customer base and creating an impact on the consumer decision-making process. Online reviews are being provided by the customers who have consumed the service or product and wish to share the experience they have gained from the consumption of the service or product. Consumers are using blogs and hiring experts for the purpose of providing reviews on the products or services. With the enhancement of the technology, people have started using technology as a means to communicate and share their experiences with the others (Nakayama, et. al., 2011). Consumer reviews are being used by the organizations for the purpose of marketing of the organization. Consumer reviews and blogs are capable of promoting the products in a positive manner and enhancing the customers for the product. Consumer reviews form a part of the marketing strategies of the businesses which can be used in a flexible manner for gaining the attention of the customers. It is essential for the businesses to control the online consumer reviews as these affect the profits of the business. Blogs and consumer reviews have created an impact on the purchasing behavior of the consumers. Blogs and online platforms have provided power to the customers to express their views and thoughts (Hung, et. al., 2012). There are various benefits attached to the positive consumer reviews and blogs to the business. These benefits include free advertising, suggestions for the business, enhancement of the search engine results, recommendations and enhances the relationship shared between the business and customers. Customer reviews help in attracting the customers which help in the decision-making process of the customers. Customer reviews provide suggestions to the business for the purpose of highlighting the areas which can be improved related to the products or services. Customer reviews and blogs act as a promotional activity for the business. Presence on the search engine also gets enhanced whenever the name of the business is mentioned in a review. Customers use customer reviews as recommendations and these reviews and blogs support the buying decision process (Lee Jih, 2012). It has been identified that there has been a drastic rise in the number of users using online customer reviews and blogs for determining buying decision. It is crucial for every business to understand the importance of consumer usage and attitude of the consumers towards the online reviews. Online customer reviews and blogs form a part of the pre-purchase research carried out by the potential customer. Blogs and customer reviews affect the decision of the customer of buying the product or service. Negative reviews affect the image of the business in a negative manner and result in fall in the number of customers and profits of the organization (Lee, 2011). Intention of the blogs created by the bloggers is to provide experiences of the products or services used by them and recommending the products or services to others. Blogs are considered as an appropriate marketing communication tool which forms a base for the buying decision of the customers. It is essential for the business to motivate customers for leaving a review so as to encourage the potential customers to buy the product or service. Reviews for the products create impact on the reputation of the business and trust among the potential customers for the product (Rowley Edmundson-Bird, 2013). It has been identified that fake reviews are provided by the competitors or others which are not genuine. Fake reviews can affect the purchase decision of the customers which is unethical. Every individual is free to express their views and their reviews will be entertained by the organization. Organizations need to deal with the negative reviews in an effective manner so as to ensure that the profits and sales of the business are not getting affected. These effective approaches for coping with the negative reviews include responding quickly to the negative reviews, accepting the mistakes and taking corrective actions and encouraging the loyal and satisfied customers to give reviews (Sharma, et. al., 2011). Buying decision process of the customers is an essential element which determines the success chances of the business. Blogs and customer reviews are considered as an effective tool which are being used by the customers for passing on the message regarding the good experience or bad experience they have gained. It is a form of post-buying communication which determines the buying decisions of the customers. Communication process of between the companies and customers or potential customers. Customers in this dynamic business environment are well aware of the role of customer feedbacks and analysis these feedbacks for taking decision regarding the purchase of the products (Hung, et. al., 2012). Thus, from the above discussion, it can be conducted that blogs and consumer reviews are a crucial aspects of the dynamic business environment. Changes are taking place in the behavior of the customers towards the products or services offered by the business. Consumer behavior is an important aspect which determines the performance of the behavior. Analysis has to be done of the consumer behavior for the purpose of enhancing the performance of the business. The Internet has enabled the consumers to share their experiences from the consumption of the product. Prospective buyers are using online consumer reviews and blogs with a motive to gain information related to the product and experience from the consumption of the product. Blogs and consumer reviews work as a recommendation for the potential consumers and is an effective determinant of the buying decision of the customers (Money, et. al., 2011). This essay has discussed the increasing role and importance of blogs and customer vie ws in shaping the consumer decision regarding the purchase of the products offered. The focus of this essay is on developing knowledge of the relationship between the blogs and customer reviews and purchase decision making of the customers. This essay has helped in the developing knowledge of the importance of consumer reviews and blogs in the customer-centered market. References Burke, S., 2016, Examples of the Good, the Bad and the Ugly of Customer Service on Social Media, Spokal. Available at: https://www.getspokal.com/examples-of-the-good-the-bad-the-ugly-of-customer-service-on-social-media/ Chiang, I. P. Hsieh, C. H., 2011, Exploring the Impacts of Blog Marketing on Consumers,Social Behavior and Personality, Vol. 39(9), pp.12451250. Chintagunta, P., Gopinath, S. Venkataraman, S., 2010, The Effects of Online User Reviews on Movie Box Office Performance: Accounting for Sequential Rollout and Aggregation across Local Markets,Marketing Science, Vol. 29(5), pp.944959,961. Cronin, J. Joseph, J. Fox, G. L., 2010, The implications of third-party customer complaining for advertising efforts.(Report),Journal of Advertising, 39(2), pp.2133. Hashmi, S., 2012, Strategies Required For Banks To Drive Consumer Banking Globally,Pakistan Gulf Economist, Vol. 31(31), Pp.78. Hung, K., Tse, C. H. Cheng, S. Y.Y., 2012, Advertising research in the post-WTO decade in China: meeting the internationalization challenge,Journal of Advertising, vol. 41(3), p.121. Kaplan, A. Haenlein, M., 2009, Users of the world, unite! The challenges and opportunities of Social Media, Business Horizons, journal of business articles, vol. 53, no. 1, pp. 59-68. Kung, M. T. Zhang, Y., 2011, Creating competitive markets for small businesses with new media and E-business strategy.(Survey),International Journal of E-Business Research, Vol. 7(4), pp.3149. Lee, I., 2011, Overview of emerging web 2.0-based business models and web 2.0 applications in businesses: an ecological perspective.(Report),International Journal of E-Business Research, Vol. 7(4), pp.116. Lee, S. F. Jih, W. J., 2012, Exploring the effects of blog visit experience on relationship quality: an empirical investigation with a cardiac surgery medical blog site.(Report),International Journal of E-Business Research, Vol. 8(2), pp.114. Money, A. G., Barnett, J. Kuljis, J., 2011, Public Claims about Automatic External Defibrillators: An Online Consumer Opinions Study,BMC Public Health, Vol. 11, pp.332. Money, A. G., Barnett, J. Kuljis, J., 2011, Public Claims about Automatic External Defibrillators: An Online Consumer Opinions Study.(Research article),BMC Public Health, 11, p.332. Nakayama, M., Wan, Y. Sutcliffe, N. G., 2011, How dependent are consumers on others when making their shopping decisions?(Report),Journal of Electronic Commerce in Organizations, Vol. 9(4), pp.121. Rowley, J. Edmundson-Bird, D., 2013, Brand presence in digital space,Journal of Electronic Commerce in Organizations, Vol. 11(1), pp.6378. Sharma, R. S., Morales-Arroyo, M. Pandey, T., 2011, The emergence of electronic word-of-mouth as a marketing channel for the digital marketplace,Journal of Information, Information Technology, and Organizations, Vol. 6(7), p.41. Yang, S. Ghose, A., 2010, Analyzing the Relationship between Organic and Sponsored Search Advertising: Positive, Negative, or Zero Interdependence?,Marketing Science, vol. 29(4), pp.602623,780,782.