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The purpose of the Internet Marketing Procedure is to create your business Internet Marketing Plan by establishing a framework for setting and achieving Internet objectives. The business Internet Plan will improve your company’s visibility, establish relationships with target markets, and sell your products in a cost-effective manner. The business Internet Plan also establishes a basis for monitoring, evaluating, and improving your company’s Internet marketing.
The Internet Marketing Procedure applies primarily to the marketing manager and company President. (22 pages, 3822 words)
Internet Marketing Responsibilities:
The Marketing Manager is responsible for developing the MT1010-2 INTERNET PLAN, ensuring buy-in in key areas of the company, ensuring the Plan’s implementation, and monitoring and reporting on Plan activities.
Department Managers are responsible for reviewing the MT1010-2 INTERNET PLAN and giving the Marketing Manager feedback on the Plan.
The CEO (Chief Executive Officer) is responsible for approving the MT1010-2 INTERNET PLAN.
Internet Marketing Definitions:
Banner ad – Graphics image linked to an advertiser’s website; also known as an “ad banner” or “online ad.”
Cart – Software that keeps track of items web site visitors select for purchase until they proceed to the “checkout” page; the interface between a company’s web site and its infrastructure that allows visitors to select products, review and modify their selections, and purchase. Also referred to as “shopping cart.”
Click-through – Site visitor clicks on a banner ad and is transported to the banner advertiser’s site (landing page); also known as a “click-thru,” “ad click,” or “transfer.”
Conversion rate – Percentage of visitors to a commercial web site taking a desired action (e.g., product purchase, newsletter subscription).
Contribution margin – Selling price of a product less variable costs (cost of goods / materials); contribution margin ratio = (sales – variable costs) / sales. Example: a marketing manager determines that a particular ad vehicle (a banner ad) has a 35% contribution margin. The manager compares that with contribution margins of other vehicles to determine if spending on vehicles should be modified and alternatives explored.