3.3.4 Making marketing decisions: Understanding the value of digital marketing and e-commerce. Flashcards
Define digital marketing.
The anticipating and satisfying of consumer wants through the use of different forms of technology. Digital marketing influences social media marketing, the use of search engine marketing, digital displays and marketing through other forms of digital media.
What are the benefits of digital marketing to a busienss?
Reduced costs.
More personalised and targeted marketing.
Marketing can be related to consumers’ interests.
More immediate impact.
Easy to evaluate success or failure.
Viral marketing.
Greater exposure to international markets.
Outline how reduced costs are a benefit of digital marketing.
Use of own website - doesn’t incur costs - prospective customers can be reached with little or no cost.
Search engine advertising and digital displays - incur costs but lower than traditional forms of marketing - digital imagery is much cheaper than printed materials.
Outline how more personalised and targeted marketing is a benefit of digital marketing.
Technology allows businesses to build a much more detailed profile of individual customers.
Loyalty cards - provide background on spending patterns.
Social media - provide details of lifestyle and other factors that might influence consumer tastes.
Outline how marketing that can be related to consumers’ interests is a benefit of digital marketing.
Digital marketing - reach consumers who have particular interests by placing advertisements on websites that reflect those interests.
Outline how a more immediate impact is a benefit of digital marketing.
Print and broadcast media - require time for preparation and specifically, organisation. Digital technology - more flexible, promotions can be geared to events as they’re happening. This makes advertising more effective and it is much easier to measure the level of benefit gained from the promotion - increase in sales are more imminent.
Outline how it being easy to evaluate success or failure can be a benefit of digital marketing.
The immediacy of any change in sales makes it easier to ascertain whether a particular campaign was effective - an unsuccessful campaign is unlikely to be repeated.
Outline how viral marketing is a benefit of digital marketing.
Campaign can be spread around and ‘go viral’ - the more virality a campaign gains, the greater its probable success, as it will reach a much larger audience.
Outline how greater exposure to international markets is a benefit of digital marketing.
Digital marketing has the potential to reach a much wider cross-section of people as it is not limited to one country or region.
