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HI6008 Business Research

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Holmes Institute
Student Name:

Student ID No.:
Unit Name: Business Research
Unit Code: HI6008 S4
Assignment No.: 01
Assignment Title: LITERATURE REVIEW
Date submitted: 27/04/2018


Table of Contents
Introduction ……………………………………………………………………………………………………………………. 3
Project objective…………………………………………………………………………………………………………….… 4
Project scope ………………………………………………………………………………………………………………….. 5
Literature review ……………………………………………………………………………………………………….…….. 6
Conclusion ……………………………………………………………………………………………………………..….…… 11
Reference list …………………………………………………………………………………………………………….……. 12


Introduction


HI6008 Business Research project outlines the concept of internet marketing tools and the influence of using these
tools in retaining consumers. The cost competence and interactivity of digital networks enable
ongoing discussions amongst the organization and the consumers. Marketers are now able to
easily contact with the consumers on a very routine basis with the use of these internet marketing
tools.The Australian market is following electronics medium to market products and services.
Internet marketing tool helps in reducing the costs of products, increasing elasticity and
trustworthiness of services. Today, there are numerous networking or internet marketing tools
which are used by customers like Facebook, Twitter, and Linked-in. business organizations like
Coles are using internet marketing tool to attract and retain its employees.Currently, Coles is
mainstreaming a social-media website to retaining and attracting consumers by providing relaxed
access to effective consumer service platforms that help in getting a better response.


Coles Supermarkets Australia Pty Ltd is trading as Coles, is an Australian retail, supermarket,
and customer services chain, headed by Melbourne possessed by parent corporation Wesfarmers.
The company is founded in the year 1914 in Collingwood, Melbourne by Sir George Coles.
Currently, Coles operates 801 superstores all over Australia, together with numerous now re-
branded BI-LO Supermarkets. Coles consist of almost 100,000 personnel or the workforce.
Recently, Coles Online is the business’s online shopping site.


Project Objective


The objectives of this project are to examine the concept electronic marketing tools or internet
marketing tools and the manner in which these marketing tools are used by the business
organizations to retain its consumers. Business organizations like Coles use email marketing and
social media marketing to attract and retain consumers from different parts of the world. In
addition to this, this project is highlighting the other advantages of using internet marketing tool
of a business. The two main objectives of this research are:


Project scope


This project is developed by the scope of this project-wide as it is talking about the internet
marketing tools. Internet marketing tools are widely used by the business organizations to
maintaining the relationships with the consumer in the modern world. Further, this project talks
about retaining the consumers which in itself is a huge topic as each consumer has its own needs
and to retain the consumers satisfying these needs are essential. Hence, the scope of this project
is wide.


Literature review


The concept of Internet marketing tool
According to Fuchs (2017), Internet marketing is also termed an online marketing. The term
internet marketing denotes to the marketing of services and products by using the World Wide
Web. In the modern world, it is important for the business organizations to market their product
online through blogging on various social media platforms like Facebook, Instagram, twitter etc.
Business organizations like Coles are focusing on using online marketing tools to improve their
relationship with the consumers. Online marketing has gained a center platform as a cost-
effective methodology for businesses to contact their consumers as well as their budding markets
(Fuchs, 2017).


Figure: Online marketing tools
Source: (Tuten and Solomon, 2017).


According to Tuten and Solomon (2017), Email marketing and social networking is the two main
internet marketing tools which are utilized to educate the consumers about their organization.
This permits the purchasers to appreciate the products and facilities offered by an organization in
an effective and efficient manner.

A business organization like Coles is also using email
marketing and social media marketing to build consumer loyalty and faith. One of the electronic
marketing tools which were recognized at a global level is the social media marketing which is a
procedure of acquiring traffic of consumers through the social media websites (Tuten and
Solomon, 2017).

The main internet marketing tools which are adopted by the business
organizations consist of websites, social networking, email marketing, forums, and webinars. All
the tools are cost-effective and have their own advantages and disadvantages. Each internet
marketing tool is used by the company as per its nature of work and functions.


The concept of customer retention


According to Ryan (2016), customer retention is termed as a continued development of
consumer relationship with the company. Consumer retention can be observed at from numerous
proportions contingent on the type of the business functions conducted in an organization. For
instance, giving discounts to the consumers help in retaining the consumers. Consumer retention
is ways of involving the consumers so that they feel more important maintain good
communication with the consumers is important to retain the key consumers of the company.
Customer retention is a procedure of fulfilling the needs of the consumers so that they prefer to
shop with the same organizations (Ryan, 2016). Coles being a supermarket offers its consumers
discounts to retain them. Consumer retention is an important strategy for the company to build a
strong consumer base. Retaining consumer is vital for the company as consumers are important
to business.


Impact of internet marketing tool in customer retention


According to Sheth and Sheth (2017), The main objective of using internet marketing tools like
email marketing and social media marketing by numerous business organizations is to notify
and update the consumers regarding the services and products which are offered by the
company , to carry out investigation and target marketplaces as well as to successful marketing
of services and products . The online marketing tool is main business tools which are adopted by
the large business organizations like Coles. Coles use social media marketing to attract and
retain consumers. The company is using Facebook and Instagram to post its products and
services so that the consumers of Coles can be informed on a routine basis. Adopting online
marketing tools helps Coles to attract consumers from various parts