INTRODUCTION:

Today, business environment has been changed. The area for marketing and ways of marketing to attract consumers has been extended. There are new ways to attract consumers. Like traditional marketing now the new form of marketing which is called digital marketing has been accepted speedily by the consumers. During and even after the covid-19 period the new way of marketing has been accepted by consumers as well as by business organisations. The online marketing is now moving even in small and micro level organisations. Today technology is also helpful for the organisations for their marketing purpose and even consumers are ready to use new marketing way through use of internet. Educated consumers and working consumers are going for online marketing.

Availability of goods desired by the consumers is attraction for consumers to use this new way of marketing. Before covid-19 period E-commerce and online marketing was also in use but growth was slow and during covid-19 period digital marketing was accepted. Now after that period it is accepted all over the world. Technology works smoothly for organisations and for consumers. Though digital marketing has its own advantages it has some disadvantages for both consumers and organisations. Today, both offline and online marketing ways are using by consumers and organisations but organisation now days cannot spread their work without digital marketing. They have to attract consumers with digital marketing also. To attract and retain consumers with the use of online marketing some areas should be focused by the organisations. Today’s marketing has two wide options traditional as well as modern way or new way which is digital marketing. Single way of marketing cannot be for growth and extension of business. E-marketing is demand for consumers. Organisations have to listen and work with online marketing. The work areas for organisations to attract their online consumers must be formed and developed to be convenient and smooth implementation of digital marketing. According to Singla, B and Kumar, P (2012) a new model of business is e-marketing, and due to increasing use of internet it is convenient to use e- marketing by both consumers and marketers also it has created scope for online shopping. According to Kumar, A and Brar, V (2018) safety system and block chain are essentials for digital marketing to save data, for transactions, display like many functions in marketing. Kumar, N. S (2021) developed a model about different aspects of internet marketing like viral marketing, social network marketing, email marketing, content marketing, influencer marketing, and their relation with purchase intention and consumer purchasing behaviour. Successful implementation of digital marketing depends on the working and online facilities provided by the marketers. This paper is focused on the realities and areas of work required to improve for the implementation of digital marketing for attraction and retention of consumers.

Concept of Digital Marketing:

New and modern way of marketing is E-marketing. E-marketing is about performing marketing activities and transactions by electronic devices and spreading of good from seller to buyers by use of internet and technology. According to Chima, A. V (2019) E-marketing has major three forms like digital marketing, e-mail marketing and social media marketing. Digital marketing is also known internet marketing and online marketing. Online marketing is marketing through use of internet. Online marketing is the way to inform and attract the consumers about the products and services through use of technology, digital devices and internet. According to Singla, B and Kumar, P (2012) E-Commerce provides facilities to consumers and marketers to handle transactions about marketing of products. Traditional marketing is the way to promote, inform and distribute the products and services without any internet and technology. Direct interaction and transactions with consumers is possible in old marketing way. Satisfaction of consumers is easier in old marketing than digital marketing. But it has limitation of wide coverage and spreading of products. Digital marketing has its advantage to increase market and distribution of products. But challenge is to retain and satisfy the consumers in online marketing. Both traditional and digital marketing have their limitations and advantages for both organisation and consumers. Today consumers have less time to visit the market areas. Mainly educated and working consumers try to purchase things at their comfort without wastage of time. They also look for variety of products. In such conditions online marketing is getting attention of the consumers especially of educated and working consumers. Business environment is ever changing and online marketing is the demand of market. The success of organisation is possible with handling both traditional as well as online marketing. It is not replacement of traditional marketing. Digital marketing is the extension of marketing. According to Noviana, P & Darma, G (2020) there is five types of digital marketing: website marketing, search engine marketing, social media marketing, email marketing and video marketing.

Growth of Online Marketing:

Traditional marketing or offline marketing has limitation to extend market. The new way of marketing is improvement upon traditional marketing. After covid-19 period it is being preferred by consumers and organisations. According to Lubis, A. N., Lumbanraja, P & Hasibuan, B. K (2022) E-marketing has been developed as new way of marketing for growth and to explore the marketing of products. Consumers are looking advantages of online marketing like availability of products in variety, saving of time, shopping as per their comfort and time, cashless payment, delivery of goods at home. This is like relationship marketing for organisation they have to improve and work on their intangible assets to perform better in online marketing. Consumers look for new and innovative products, availability of variety of products at better prices and these features are in online marketing. For long run survival companies are looking and understanding the importance of online marketing. Mardiana, A. P & Haryanto, B (2022) explained the use of SPayLatter with digital marketing, awareness of brand and viral marketing in the period after covid-19.

Digital Marketing Tools/intangible assets:

Digital marketing has its advantages and drawbacks. The working with digital marketing can be increased and improved by some major intangible assets of the organisation. A firm must ensure its intangible assets which can be called realities to perform better with online marketing like trust, digital payment, advertisement and communication, attitude and engagement, goodwill and brand building, quality of services, quality of products, and website presentation. These are realities which are like assets of organisation to enhance their marketing area with digital marketing. According to Lestari, R., Guridno, E & Molina (2021) quality of website of the marketers affects the buying decisions of customers. Success of digital marketing depends on these realities. These are for positive responses and better relations with consumers. Following are real assets to implement and to take best advantages of digital marketing with the figure:

Digital Payment:

Today major challenge in digital marketing is digital payment and safety issues. Cyber crimes have threatened consumers to use online marketing by online payments. Some consumers choose on delivery payment. Major drawback of online marketing is safety issues about payment system. Though the online marketing is demand of the environment but by improving payment system and strong safe payment system companies can increase attention of consumers and implement digital marketing.

Trust:

Trust of consumers about the products of company is an asset to lead in online marketing. Trust on the products will be developed after use of products, their features and what has been informed about the products. Rational consumers generally match the information provided by the organisation after the use of product. Trust building is essential tool in online marketing. Trust on products of company will lead frequent purchase from the side of consumers. Satisfied consumers can be loyal to the company and it will help to sell them other products of the organisation.

Attitude and Engagement:

Attitude of consumers about the products of organisation lead their transactions and engagement of consumer for the product specific as well as for other products of the company. What consumers think about the products of company will affect their use of online marketing. Attitude and engagement of consumer is essential tool in success of digital marketing.

Goodwill and Brand Building:

Satisfied consumers for popular products of company will enhance the online marketing of products, and it is like advertisement for the introduction of new products of the company. Popular products in online marketing of company make the goodwill to frequently purchase of products and to attract new consumers. Brand building is important tool for online marketing. Famous brands are searched by new consumers in online marketing. Consumers try new products of famous brands and continue online marketing for those brands which are providing quality goods to consumers. Every time company which provides quality products to consumers will build goodwill and brand image in the mind of consumers. They will prefer to search and use of trusted brands.

Quality of Services:

Services to consumers are vital in online marketing. Retention of consumers can not be possible just performing services. It is essential requirement to provide quality services to consumers to retain them in online marketing. Services like easy return of products, refund to consumers, queries solution about the products, availability of variety of products, on time delivery of products, right products delivery on right place and consumers. Search engine of company should be easy to operate by consumers, display of products through videos and notifications through email attract consumers. Challenges of digital marketing can be resolved by better services to consumers. Consumers feel cheated when companies do not provide better services to consumers.

Quality of Product:

Quality is about the features of product. Maintain uses of product in relation of prices of product are also important in online marketing. Charging of high price in online marketing than competitors cannot be run for long period. Consumers received what they want will increase their use of online marketing. Quality matters in online marketing, as consumers can not experience and have exact idea about the product before purchase like size, colour, shape, material durability etc. Products should be similar like what have showed by the company about the product it is also counted for the quality of product.

Advertising and Communication:

To know purchase intention of consumers by following their interest frequently and providing them information accordingly, is also an asset while performing online marketing. What a consumer want to search can be followed by the history of purchases of products of consumers. Notifications of availability of products, promotion about drop in prices and variety in products plays major role in attraction and retention of consumers. Information should be about availability of goods with in speculated time, information about the status of products in path, arrival timing of products, updated payment status, sale deals and offers etc. Clear and timely information to consumers is a medium to engage and retain consumers. It is helpful also to use online marketing.

Figure 1. Real Assets for Digital Marketing

Website Presentation:

Website quality of the organisation is an asset of the organisation. The way of presentation about the product or services on the website of the organisation attracts consumers. This could increase the online marketing and distribution of products. The way an organisation presents its product on website, provide updated information of product and user friendly website increase retention of consumers and increase their transactions and frequently purchase of the products. Satisfied consumers with the information of product, works like asset and it can impact for long run of the products. Easy and safe ways of working with the websites of the organisation pay for long run and retention of consumers.

Consumers Behaviour/Perspectives:

Consumers when use online marketing some factors play vital role in it. In digital marketing consumers behaviour and purchases can be noted. By following what types of products they are purchasing and searching. Digital marketing increases responses and consumers retention (Novitasari, D 2022). According to Ukaj, F & Mullatahiri, V. (2019) brand trust of consumers and service quality of the marketers affect the loyalty of consumers for products. On the side of consumers the intangible assets developed by the organisation under online marketing influence their purchase behaviour. The realities influence buying decisions of consumers their purchase activities and the process used by consumers in online marketing. Satisfaction of consumers after online marketing can be increased by the real assets of the organisation for online marketing. Companies have to face competition with online marketing also. With satisfied consumers companies can lead in online marketing.

CONCLUSION:

Business environment is ever changing. The new form of marketing is growing and has been accepted by both originations and consumers. Consumers are using both traditional and online marketing. Online marketing is demand of the business environment and success of online marketing depends on the realities developed by the organisation. Firms are taking interest and improving their realities for online marketing. Focus on the realities can extend and implement in better way the digital marketing activities of the organisation. Realities like trust, digital payment, advertisement and communication, attitude and engagement, goodwill and brand building, quality of services, quality of products, and website presentation are ground and assets for organisations to work in online marketing. Companies should focus on such real assets to extent their marketing. Consumers do not meet personally to the shops of the sellers like traditional marketing so these realities are base to work better in online marketing. These are major areas to improve, if organisations continue to work with online marketing. The fierce competition in market has compelled the organisations to work with digital marketing and to focus on such real assets to perform well in online marketing. For long period survival and success companies should understand the importance of these realities these can help them for positive responses from consumers their long term retention and attraction of consumers. Organisations can build relations with consumers with these real assets in online marketing. These real assets will be helpful for organisations in their marketing future and working with digital marketing.

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Received on 16.05.2023 Modified on 21.05.2023

Asian Journal of Management. 2023;14(2):155-158.

DOI: 10.52711/2321-5763.2023.00026