Ch 1 - Digital Marketing Environment Flashcards
Is marketing all digital now?
Nope, just depends on your target market!
BUT if your bix doesnt have a website or socials, you arent doin it right
**need multiple points of contact!
Why is digital marketing a focal point for most orgs today?
a) Technology enabled = consumers thinking differently so orgs need to too (be where the consumers are!)
b) Data driven = know all the info + use it to decide on messaging an offerings (metrics, insights, etc)
c) Globally connected = even if not global org, compete with international competition online
d) Agile & flexible = can respond fast, one lil click to change price, message, etc. AND can get data asap
e) Dynamic & logical = very specific
Digital markting has become the best way to do ______? What marketers need to consider with this?
- Address customer needs
- Raise awareness
- Encourage conversion (move along journey)
- Foster enthusiasm
- Build & maintain relationships (connect with them, get loyalty, get them to be genuine free marketing)
marketers = be aware of how represent brand identity with all these and how to stand out
What is the process of digital transofrmation?
- Digitization = info in analog format (paper, brochures, biz card) getting converted to digital spaces
- Digitalization = tech starts to fundametally change the org (ex: CRM programs, platforms)
- Digital transformation = actual modifications across the org, even corporate culture has a digital mindset (need change management lol)
What are pros + cons of digitization?
Pros
- so easy to share
- good when biz changes lots
Cons
- magazines and journalism dying bc people used to getting information for free
What are the digital generations? What is the significance? What is the digital divide?
digital natives vs digital immigrants!
DN = born after 1980, learned internet/computers/etc easily and early
DI = born before 1980, had to learn all that later in life, simliar to learning a whole new language!
Sig = changes the way people navigate the world, how marketing impacts them
divide = there are inequalities (education/skills, rural internet, $$ to access tech)
What is digital doing to products? Examples?
some industries it changes completely how products are offered and how we access them
ex: AirBNB, ride sharing
What impact has digital things had on process es and payments?
affects how biz advertises/sells
ex: e-money and digital wallets
ex: bitcoin, cryptocurrencies, blockchain
how does digital affect ethics + pricvacy?
need consider:
- Data protections
- Acquisition of data and targeted advertising
- The right to be forgotten
What is digital disruption? examples?
= major marketplace changes or sector tranformation following the application of technology
ex: Amazon disrupted book selling market
netflix disrupted traditional video-hire market
airbnb disrupted accomodation sector
uber disrupted taxi services
What is the internet of things (IoT)? What are some examples
an ecosystem in which applications and services are driven by data collected from devices that sense and interface with teh phsyical world
ex: healthcare - pacemakers cthat can be adjusted easily remotely
Google Home and Alexa can connect to lighting, heating, security in house
What are the 8 main issues raised with the IoT?
- Information misuse – abusing the data held about the customer
- Privacy issues – collecting health and personal fitness data and selling online
- Switching barriers – making it less attractive or difficult to switch providers
- Favouritism and discrimination – micro-segmentation based on shared customer
behaviour - Unfairness – discriminating against certain user types, such as higher prices to
Mac users - Dishonesty – cross-selling potentially unwanted or unneeded products based on
behaviour - Financial penalties – only benefiting clients wearing fitness devices and penalising those that won’t
- Confusing customers – only providing complex pricing models
What are the characteristics of data?
1) velocity = speed data is generated
2) volume = how much (we have 1000^5 petabytes YIKES)
3) veracity = quality of the data (ex: “lol” msg is low qual but still data)
4) variety
– a) unstructured = open Qs, detailed, QUALITY (ex: socials comments)
– b) structured = binary, closed Qs, QUANTITY (ex: likes, views, exact numebrs!)
What is blended data?
The collection of info that canbe had on you from multiple sources
- social media profile
- behavoiur on social platform
- advertisers databases (biz can buy information)
What do with data? What is typically the trouble with teh amount of data we have?
use it for biz decisoins and anlaysis!
issue = we collect SO much data, but oft dont know what to do or how to manage it or just dont to stuff with it
