9. Marketing Strategies for a Digitally Networked World

Question 1

Which are the top 5 social networking platforms in the UK?

Answer 1

1. Facebook
2. Flickr
3. Google+
4. Instagram

Question 2

Which are the top 5 social networking platforms in the UK?

Answer 2

1. Facebook
2. Flickr
3. Google+
4. Instagram
5. Linkedin

Question 3

Top Social Networking Sites (UK

Answer 3

1. ###### Facebook
2. ###### Youtube
3. Linkedin
4. Twitter
5. Pinterest

Question 4

What is the type of update on Facebook is, statistically, most engaging for fans?

Answer 4

1. ###### Status
2. Link
3. Pictures
4. Video
5. Questions/Polls

Question 5

Advantages of Digitally Networked World for Marketers 6

Answer 5

1. The syndication of information
2. Increasing returns to scale of network products
3. The ability to efficiently personalize and customize market offerings
4. Disintermediation and restructuring of distribution channels
5. Global reach
6. 24/7 Access, and instantaneous delivery

Question 6

The Syndication of Information 5

Answer 6

• Syndication: Involves the sale of the same good to many customers, who may then combine it with information from other sources and distribute it
• Originator (Inktomi)
• Syndicator (YellowBrix)
• Distributor (E*Trade)
• Really Simple Syndication (RSS) (Expedia.com)

Question 7

The Syndication of Information 3

Answer 7

1. delivers informational goods, rather than tangible goods
2. The syndication process can be automated and digitized, enabling syndicated networks to be created, expanded, and flexibly adapted far more quickly than would be possible in the physical world
3. Syndication via the Internet, via mobile phones, and other mobile devices opens up endless opportunities for marketers

Question 8

Positive network effect:

Answer 8

The characteristic of informational networks—a product becomes more valuable as the number of users increases

Question 9

The Ability to Efficiently Personalize and Customize Market Offerings 3

Answer 9

1. Collaborative filtering
2. Rules-based personalization
3. Customization

Question 10

Disintermediation

Answer 10

• The Internet makes it possible for marketers to reach customers directly, without the expense or complication of distribution channels

Question 11

Global reach:

Answer 11

• Making information, digital goods and services, available 24 hours per day, seven days per week, 52 weeks per year; and, in some cases, providing instantaneous delivery

Question 12

Are These Digital World Attributes Opportunities or Threats?

Answer 12

• technologies constitute opportunities available to marketers who employ them
• They also raise complex ethical issues
• The fact that the variable cost of downloading digital content is now essentially zero will likely have a profound effect on the pricing of books and music
• A threat to technologies : few barriers to entry, internet strategies are easily imitated
• Other threats include privacy and security issues

Question 13

First-Mover Advantage

Answer 13

Being the first mover can bring some potential advantages, but not all first movers are able to capitalize on those advantages

Question 14

Why do you use social media? 6

Answer 14

1. Connect with people
2. Share things
3. Play games
4. Exchange information
5. Share opinions
6. Find information

Question 15

What is Social Media Marketing?

Answer 15

1. ###### positively influence consumers toward a website, company, brand, product, service, or a person.
2. ###### end goal of social media marketing is a “conversion”, such as the purchase of a product, subscription to a newsletter, registration in an online community, or some other desirable consumer action.

Question 16

Why Social Media Pros 7

Answer 16

1. Highly engaging
2. Interactive
3. Feedback
4. Cost effective
5. Growing case history
6. WOM
7. Advocates

Question 17

Why Social Media Cons 6

Answer 17

1. Limited control
2. Negative feedback
3. No guarantees
4. Difficult to plan outcomes
5. Hard to use in planning NPD launches
6. Consumers can damage your brand as easily as build it

Question 18

Successful Social Media Campaigns 5

Answer 18

1. Sharing humor and creativity with consumers
2. Deals and contests
3. Causes, sponsorships, and events
4. Interactive games, virtual worlds, and avatars
5. Consumer-generated stories and content

Question 19

The Focus of the Strategy 2

Answer 19

1. Focus on the people and not the technology. However, having a consultant who can create connections and manage an effective campaign to reach the customers does.
2. Build conversations instead of focusing on campaigns. By interacting with customers and building long-term relationships you will be able to build trust and connection with them, which will eventually convert into higher and more consistent revenues.

Question 20

Implementation & Optimization 3

Answer 20

1. Implement: convert customers into subscribers and contributors
2. Measure: sales, number of referrals, mkt costs
3. Optimise: use analytical tools and implement new strategies

Question 21

Content of social marketing 3

Answer 21

1. Build brand awareness and interest
2. Establish thought leadership
3. Extend the reach of all your channels