Business Marketing Strategy

Business Marketing Strategy

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Business Marketing Strategy

1. A viable online business model, in this case, would be an online entertainment store. The products offered by the store will comprise music and movies. Music and movies are feasible for an online environment based on the consistent demand for the product. Since selling such products generates low clients nowadays, it will be economical to sell these commodities online in order to allow clients from incurring transportation costs. Accordingly, such products are easily accessible via the Internet. For instance, enabling the customers to purchase the products will involve the incorporation of a subsequent set of pages for the website. These pages will provide different sets of genres for music and movies in the current year, and at the bottom, provide a tab that will allow the clients to purchase the product through clicking. Moreover, the stores, via the websites will provide clients with the ability to generate their suggestions concerning the payment design used by the store.
2. Even though the online entertainment store is advantageous, there is significant online competition for the products. One of the reasons for stiff competition is due to the competitors established position in the market. The respective businesses that engage in online entertainment possess a strengthened market position within this market. Another positive feature of these businesses involves their client populace. Currently, most people are familiar with these businesses and list them as their most preferred online venues for their entertainment needs. Negatively, these businesses create entry barriers for other stores that offer similar products. Since they possess a significant influence over clients, such stores are able to produce numerous advertisements and banners without incurring click-through costs. Secondly, these stores also avail copyrighted material at cheaper rates than other stores. For most stores, this is a negative competitive strategy since accessing copyrighted products is usually costly.
3. There are certain online marketing strategies that the store will utilize in order to appeal to the target audience. One of these strategies involves the use of pop-ups. Pop-ups are simple advertisements that usually appear once the customer logs in to the store’s website. Such advertisements will assist the store in gaining reduced costs for advertising. Another strategy will involve the transmission of mails to the potential customer’s email. The mails will provide the customers with interesting details such as new music and movie arrivals. The store may also provide a free version of the movies and music if they register as new members. Once a client registers to the website as a member, the store will provide him or her with an online version of a movie or song of his or her choice. The business may also advertise novel music and songs through previews. Such previews will allow prospective clients to access the preferential movie or song after gaining interest in the previews.
4. The store may use several ways for extending its business web presence via social media. One of these ways involves the creation of an account on popular social media tools such as popular social media sites. The creation of an account will allow clients to access the store’s profile and even go the actual site via a link provided within the account. Additionally, the store will also provide its profile names on its actual site in order to allow customers to access the account through social media tools such as social media sites. Accordingly, the store may also liaise with popular social media tools in order to assist them in expanding their web presence. At this point, social media sites may charge a certain rate for every click made by customers while purchasing their products or viewing the advertisements. Based on this, the business will provide free movies and songs that will be accessible via these social media tools. This way, clients will be able to access such media without necessarily visiting the store’s website first.