THE EFFECTIVENESS OF MULTIMEDIA AND INTERNET IN BUSINESS

Prepared by: Ayesha Fernandes (09) Yogesh Maheta (18) Vrushsen Pawar (28) Pooja Vichare (35)

Multimedia
MULTI
Many or more than one

MEDIA

Medium of Communication

Multimedia

Multimedia is media and content that uses a combination of different content forms. In common usage, the term multimedia refers to an electronically delivered combination of media including video, still images, audio, text in such a way that can be accessed interactively.

History of multimedia

The term MULTIMEDIA was first used by BOB GOLDSTEIN in July 1996 to promote opening of his light works. In 1970s the term was used to describe presentations consisting of multi-projector slide shows timed to an audio track. In 1990s multimedia took on its current meaning. TAY VAUGHAN declared Multimedia as combination of text, graphic art, sound, animation, and video that is delivered by computer. Computers marketed in 1990s were referred to as MULTIMEDIA COMPUTERS because they contained a CD-ROM drive.

Elements of Multimedia

BENEFITS OF MULTIMEDIA

Multimedia enhances the effect of text presentations. Improves the quality of presentation and retains the attention of audience . It is quick and easier to operate for the instructor. Multimedia is useful in entertainment as well as education. Provides an excellent way to convey content. Uses a variety of media elements to reinforce one idea. Enables users to control Web experience.

USAGE AND APPLICATION

Creative industries Commercial uses Entertainment and fine arts Education Journalism Engineering Industry Mathematical and scientific research Medicine

THE ROLE OF MULTIMEDIA IN THE BUSINESS SECTOR

Multimedia is a vast field, incorporating a variety of different components, like music, text, interactive audio-visual shows, animation. In order to make your business stand out from your competition and to drive them to buy a product or service from you, a powerful web presence is almost a must these days. Many multimedia companies also offer 2-D and 3-D animation services to create an even more memorable website viewing experience.

MULTIMEDIA IS A GREAT WAY TO ATTRACT NEW CUSTOMERS

Many people are doing business--both buying and selling--online these days. In order to improve your site's conversion rate, you need customers to stay on your website as long as possible. To keep your customers engaged, motivated and inspired then multimedia is the best option Work is made easier with the help of multimedia. Keeping your website updated and changing the layout or multimedia features periodically is also a good way to keep things fresh and interesting for prospective and recurring customers.

PROMOTE YOUR PRODUCTS & SERVICES WITH MULTIMEDIA PRESENTATIONS

Keeping your business competitive in a highly technological world can be challenging at times. Highly attractive and effective presentations that include or use 3D animation, video, music, voiceover and so many other elements are a great way to keep your business current and convey your message and product to your customers.

Introduction to Internet

The Internet is a global system of interconnected computer networks that use the standard Internet protocol suite (TCP/IP) to serve billions of users worldwide. The Internet carries an extensive range of information resources and services, such as the inter-linked hypertext documents of the World Wide Web (WWW) and the infrastructure to support email.

History of internet

The origins of internet reach back to research commissioned by the United States Government in1960s to build a robust,faulttolerated communication via computer network. In December 1974, RFC 675 Specification of Internet Transmission Control Program, by Vinton Cerf, Yogen Dalal, and Carl Sunshine, used the term internet, as a shorthand for internetworking.

In 1982, the Internet Protocol Suite (TCP/IP) was standardized and the concept of a world-wide network of fully interconnected TCP/IP networks called the Internet was introduced.

Since the mid-1990s the Internet has had a tremendous impact on culture and commerce, including the rise of near instant communication by email, instant messaging, Voice over Internet Protocol (VoIP) "phone calls", two-way interactive video calls, and the World Wide Web with its discussion forums, blogs, social networking, and online shopping sites. During the late 1990s, it was estimated that traffic on the public Internet grew by 100 percent per year, while the mean annual growth in the number of Internet users was thought to be between 20% and 50%.

As of 31 March 2011, the estimated total number of Internet users was 2.495 billion (30.2% of world population)

INTERNET & ITS IMPACT ON BUSINESS

In the 1990s, Businesses used to perceive the Internet mostly as a communication tool - referring to the e-mail and multimedia capabilities, sending or downloading documents. Today, Internet Business is the point where economic value creation and information technology come together. Internet is no longer a subject of research but rather a relevant research tool. Also internet offers selling and advertising channels which increase the interactivity of the businesses. Business also try to monitor the web traffic i.e. try to know their customer.

APPLICATION OF INTERNET IN BUSINESS

BUSINESS INTELLIGENCE

A RESEARCH TOOL
MARKETING INFORMATION SYSTEM WEB SEGMENTATION MANAGEMENT IMPLICATIONS ADVANCED DATA COLLECTION METHODS WEB ANALYTICS COLLABORATIVE FILTERING & DATA PROFILING DETAILED SEGMENTATION ANALYSIS ON-LINE ANALYTICAL PROCESSING

BUSINESS INTELLIGENCE

Business Intelligence (BI) refers to various software solutions, including technologies and methodologies needed to acquire the right information necessary for the business decision-making with the major purpose of enhancing the overall business performance on a marketplace. Business Intelligence integrates many of the business processes (enterprise resource planning, supply chain management, customer relationship management) into a variety of applications that serve the primary source of data. This data is further extracted and with BI tools like reporting, OLAP, data mining etc., is converted into valuable information on which companies take decision.

BUSINESS INTELLIGENCE

A RESEARCH TOOL

Internet provides insights in developing an efficient marketing strategy. The Internet is a far cheaper and easier medium for conducting research. Internet helps in better segmentation of potential customers by providing real-time data.

Benefits of using internet as research tool are,

opportunity to survey a high number of respondents at once ease of conducting a survey in a couple of clicks. inexpensive respondent reach (larger sample). pre-screened panels (prompt responses to online questionnaires). rapid turnaround (research and results in a short period of time). flexibility and control over formats. simplicity of administration.

MARKETING INFORMATION SYSTEM

Is Business philosophy of giving importance to accurate, latest and on-time data. Analyses Marketing Information. Sources of information are Internal & External Data collected by 3 primary methods Automatic registering of all visits and clicks through log entries & IP address of the user. Statistical & Reporting information from Primary Web logs. Primary data collection on the web through experiments, focus groups, observation & indepth interview.

MARKETING INFORMATION SYSTEM

Provides basis for decisions on Product development/improvement. Pricing Packaging Distribution Media selection Promotion.

WEB SEGMENTATION

Marketing segmentation forms the basis for successful customization of products and services. The structured click system analysis helps in conducting Web segmentation, which classifies the Web users as Compliant, Aggressive and Detached.

Web segmentation lies on the principles of interdependence of criteria.

Sequence Alignment method is used for Web Segmentation.

TYPOLOGY OF INTERNET MARKETING RESEARCH

MANAGEMENT IMPLICATIONS

The Internet represents an efficient medium for communication with users. Internet is a New Marketing tool. Determine the role of Website in Everyday Business Operations.

Pay attention to the Corporate Web content structure and navigation.

Define and understand the Web users for accurate segmentation.

WEB ANALYTICS (ADCM)

Web analytics replaces traditional analytics.

Web analytics represents the advanced method of estimating and analysing the marketing strategy through the Web users behaviour.
Web analytics provides the tools for gathering this information about what happens on your Website, and enables you to benchmark the effects. Web analytics ensures understanding the relation of customer/user and the Web site.

COLLABORATIVE FILTERING (ADCM)

Collaborative filtering predicts the needs of users/clients,, as well as the searching decisions and the product or service selection, based on their Web navigation. In Collaborative filtering, information used is Real time data, which is then Merged and compared with other relevant information in the main customer database. Collaborative filtering tried to determine the connection between the given data and impact on future purchases.

DATA PROFILING (ADCM)

Enables monitoring of consumer behaviour.

Useful in tailoring various promotional efforts and discounts.

Useful in determining the substitute product or service for some users.

Profiles users of products/services of the company, according to costs.

DETAILED SEGMENTATION ANALYSIS (ADCM)

Collected data subjected to in-depth analysis, on the basis of segments. Data collected from 3 levels Identification and Navigation data. Data regarding Buying habits & Data from E-mail contacts. Data from Collaborative Filtering & Data from Personalization. Employs clipping method which processes demographic data and consumer behaviour data, vital for segmentation, and thereby vital for companys later positioning and marketing mix formulation.

ON-LINE ANALYTICAL PROCESSING (ADCM)

Multidimensional data analysis technique. Can research relatedness of planned and achieved results in a particular period of time. Unique feature of OLAP is the speed of acquiring very complex data that cover a number of variables.

Helps with analysis of all users activities in combination with promotional selling efforts that are directed to those users/customers.
OLAP tools enable numerous options ranging from simple search functions to complex calculations and data modelling.

THE EFFECT OF THE INTERNET ON MODERN BUSINESSES & CORPORATIONS

Facts

E-business and E-commerce

e-mail servers lowering operational costs Reduction of middlemen Not an end-all, be-all solution

Features

Function

Effects

Misconceptions

E business

SUPPLIE RS

COMPANY

CUSTOME RS

THE ROLE OF INTERNET IN BUSINESS

Communication: fast and cost efficient Growth: wider global audience more sales Marketing: Online advertising Networking and Recruiting: Social networking websites Outsourcing services: enables businesses to concentrate on their core services New Opportunities: online business

WHY THE INTERNET IS IMPORTANT IN BUSINESS?

Marketing and Advertising

Supplement other promotion media

A good website enhances image

Image Building

Communication and Interaction

E mail
Online research, Online library

Information Gathering

Remote Services Transactions

Net banking

ADVANTAGES OF USING THE INTERNET FOR BUSINESS

Potential Customer Base A Store that Never Closes Networking Opportunities Cost Effective

WHAT ARE THE POSITIVE EFFECTS OF THE INTERNET ON BUSINESS?

Personable
Targeted

advertising

Information Accessible
Bridges

the gap

Easier Entry
start-up

and advertising costs are significantly lower trade

Investing
E

Conclusion

Multimedia and internet have revolutionized the way business is conducted. It is important to encourage companies to use the Web as an interactive medium for establishing a connection with their customers. With the growth of the Internet and technology innovations, it is necessary to be up-to- date with such advances, in order to take advantage of the full potential that the Web offers.