ch.1 Flashcards
what is digital marketing?
interactive exchange of value, create meaningful benefits for consumers
business strategy challenges?
1- environment (PESTLE)
2- business (what the brand stands for, ideas, what does it mean)
3- customers (clear picture of your customers based on market research)
4- competitors ( innovations, potential replacement)
what are the marketing strategy building blocks?
1- Porter’s five forces
2- 4 P’s
3- SWOT analysis
what are Porter five forces?
1- power of supplier
2- power of customers
3- threat of new entrants
4- threat of substitutes
5- competitive rivaley
how to craft a digital marketing strategy?
1- context
2- value exchange
3- objectives
4- tactics
5- ongoing optimization
what are the characteristics of context?
1- PESTLE
2- who is your brand and why does it matter
3- who are your customers and what are their needs
4- competitors
characteristics of value exchange?
content marketing, valuable information and Entertaiment
characteristics of objectives?
objectives must be SMART
S for specific
M for measurable
A for attainable
R for realistic
T for time bound
what are tactics?
tools to meet objectives
what are the KPI’s?
metrics to measure whether tactics are meeting objectives
what is the target?
values set for the KPI’s
types of tactics?
1- SEO, customer retention & Acquistion
2- search advertisements
3- online ads
4- affiliate marketing
5- video marketing
6- social media
7- emails