Chapter 13 Internet Marketing News Analysis and Reflections

Internet Marketing News Analysis:

Source:http://www.emarketer.com/Article.aspx?id=1006250&src=article1_home
Where is Ad spending headed?
Author: Unknown
Date: May 2, 2008


What I learned: Thisarticle talks about how the economic slow down and how it will effect media spending in the future. In 2008 we are seeing a growth in spending, especially T.V. media, and is due to the election and the Olympics this year. Another few reasons that spending seems to be behind the economic stress is the facts that, budgets for advertising is usually set aside in advance, companies don't want to decrease marketing until it is very clear that the consumer spending has made cut-backs, and also companies don't usually alter their ad budgets until they have seen decreased revenues. It is predicted that the total spending in the U.S. in 2009 will grow up to $300 billion regardless of the economy due to the rapid growth of on-line advertising and spending.






Reflections: Chapter 13, Leveraging the Market Knowledge asset, talks about the success of marketing programs and how they have become an essential part of todays business environment. Part of creating programs in todays fast paced world is knowledge management. Knowledge Management helps to deliver information to customer service personnel and decision makers to help ensure that the customer service experience is delivered seamlessly. This requires taking huge amounts of data and combining it into a program that is usable and can simulate the best of the customer service workers.
Explicit knowledge exists in most corporate material. In order to develop a knowledge based marketing system, it is essential to use profiles and the correct data. To do so, you must first locate the relevant material and then to incorporate it into the correct format. Although challenging, it is a well understood task, and the better the qualitative information, the better the results.
The first step in constructing a system is to collect tacit knowledge directly from people who posses it and to incorporate it into the system. It is time consuming and costly. Some parts of the system are not visible and are not part of the workers expertise and some of the information they do posses may just be hard to describe it well enough to be interpreted in a meaningful way.