Mktg306 - Individual Report: E-Marketing

In: Business and Management

Submitted By schokman
Words 3560
Pages 15
Executive Summary This report explores the relationship between the art industry and the internet, as well as examining the way in which the internet has changed the way the art industry operates. A critical analysis and comparison of the e-marketing mix strategies of Etsy and DeviantART was also made. The research draws attention to the shift from an industry with a high barrier to entry which used traditional forms of discovering, exhibiting and selling artworks, for example, art galleries, to an industry with a lower barrier to entry, changed by online platforms that allowed a greater number of artists and artworks to enter the market and created new ways in which both artists could sell their works and buyers could buy those works. The analysis of the e-marketing mix strategies of Etsy and DeviantArt found that Etsy and DeviantART catered to their consumers’ needs by the development of a marketplace and social networking platform, respectively. The analysis of their pricing strategies found that Etsy and DeviantART both utilized elements of fixed pricing and personalized pricing, but only Etsy using dynamic segmented pricing. The distribution strategies of Etsy and DeviantART did not include the use of intermediaries and products were sold directly to the consumers through websites and mobile technology. The communication strategies of Etsy and DeviantART were strong with a focus on the building of communities through owned, paid and earned media. It was found that neither Etsy nor DeviantART had a more superior e-marketing mix strategy, as they both had strengths and weaknesses in different areas. It was recommended that DeviantART focus on improving the commercial capabilities of its mobile applications, and that Etsy should work to develop and foster user interactions through endeavors such as a way for users to comment and…...

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