1.5 The Changing Marketing Landscape Flashcards
What are the for major developments that are changing marketing landscapes
The digital age,
The growth of not-for-profit marketing,
Rapid globalization,
The call for sustainable marketing practices.
What is the age of the* Internet of Things (IoT)*
A global environment where everything and everyone is digitally connected to everything and everyone else.
Definition of Digital and social media marketing.
Digital and social media marketing: Using digital marketing tools such as websites, social media, mobile appsand ads, online video, email, and blogs to engage consumers anywhere, at any time, via their digital devices.
How do companies engage with IoT on the most basic level?
Marketers set up company and brand websites that provide information and promote the company’s products.
Many companies also set up online brand community sites, where customers can congregate and exchange brand-related interests and information.
Beyond brand websites, what do companies do to engage with IoT?
Beyond brand websites, most companies also integrate social and mobile media into their marketing mixes.
What can social media marketing involve?
Using social media might involve something as simple as a contest or promotion to garner Facebook Likes, tweets, Instagram “regrams,” or YouTube postings.
But more often these days, brands create large-scale, carefully integrated social media programs.
What makes smartphones ideal for engaging customers anytime?
Smartphones are ever present, always on, finely targeted, and highly personal. This makes them ideal for engaging customers anytime, anywhere as they move through the buying process.
What is the key to the best use of social media marketing?
Although online, social media, and mobile marketing offer huge potential, most marketers are still learning how to use them effectively.
The key is to blend the new digital approaches with traditional marketing to create a smoothly integrated marketing strategy and mix.
How are marketers using Big data to improve customer enegagement?
Brands can use such big data to gain deep customer insights, personalize marketing offers, and improve customer engagements and service.
They are tapping information sources ranging from customer transactions to real-time data flowing from website and social media monitoring, connected Internet of Things (IoT) devices, and many others.
What is AIs role in marketing, what does it involve and how is it used?
AI involves machines that think and learn in a way that looks and feels human but with a lot more analytical capacity.
Marketers can use AI to analyze data at lightning speed and apply the insights to engage customers in real time and help them through the buying process.
What are some examples of Ai-empowered applications?
AI-empowered applications include everything from customer-service chat bots and virtual assistants like Amazon Echo’s Alexa or Apple’s Siri to IBM’s almost-human AI supercomputer Watson.
What are some other kinds of marketing?
- Mobile Marketing
- Not-for-Profit marketing
- Sustanable marketing
Figure 1.6: An Expanded Model of the Marketing Process
What is the purpose of the first four steps of the marketing process? The last step?
The first four steps in the marketing process create value for customers. In the final step, the company reaps the rewards of its strong customer relationships by capturing value from customers.
