Internet Bullseye Marketing Explained

Planning an Internet Market Strategy

May 23, 2009

Determine likelihood of selling products and services on the Internet and identify those not likely to succeed. Then modify objectives to implement a marketing strategy.

Strategic Internet Marketing involves more that just sales. The Internet is a powerful tool to conduct market research and assist in various aspects of the marketing cycle.

Marketing of products or services over the Internet is often referred to as: i-marketing, web marketing, online marketing, or eMarketing.

Ideal Product to Score a "Bullseye"

The Internet Bullseye Marketing (IBM) model was created by Tom Vassos when the Internet was relatively new. There was a need for a predictive sales model- a set of questions composed of thirty criteria that could be used to predict the likelihood of sales success on the Internet.

If a particular offering scored well on all criteria, it would be considered a "bullseye." In reality, not many products or services come close to such a perfect score. The model's criteria relate to the following:

For each of the criteria in the model, one rates the individual products and services. If the offering does not match a criterion, it receives a score of 0. Conversely, a perfect match score 10. Should there be an approximate match, then a score somewhat lower than 10 should be applied. A poor match would score low. Tom Vassos' book has an exhaustive set of scoring guidelines.

Bullseye Marketing- Strategic Tool

The IBM model can assist companies faced with several strategic Internet-related marketing decisions to: predict likelihood of marketing success, prioritize offerings for an Internet launch and allocate a launch budget. The model also serves to determine appropriate marketing objectives and identify correct strategic weaknesses in the marketing plan.

Internet Marketing Objectives

The Bullseye model may help determine if the offering is unlikely to achieve success. This insight can be used to modify objectives rather than cancel marketing plans. For example, one would be unlikely to sell a $100,000 automobile on the Internet; therefore the marketing objective should be other than trying to generate sales. Rather, it would make more sense to try one or more of the following:

Thus by modifying objectives, one is more likely to achieve Internet marketing success.

Bullseye Marketing- Model Application

Vassos provides three examples of how the IBM model is applied. The first is a local pizza chain, a local product in an urban center marketed through a global medium. There are several competitors in the market and the Web does not offer significant advantage.

A valid question is, "What is the minimum score required before it makes sense to use the Internet to sell a product?" There is no simple answer as some companies may score low but still decide to use the Internet because they may be able to generate a significant amount of publicity- one factor alone may be reason enough to invest in an Internet launch.

The other examples given are: an online book and airline tickets. When considering the target market and nature of product, the online book obtained the highest score, followed by airline tickets and pizza. When considering price factors, airline tickets scored best, followed by online book, then pizza. For promotional marketing, pizza scored highest, then online book, followed by airline tickets.

The copyright of the article Internet Bullseye Marketing Explained in Marketing Plans is owned by Harry P. Schlanger. Permission to republish Internet Bullseye Marketing Explained in print or online must be granted by the author in writing.