Commercialisation Flashcards
What is commercialisation?
The process of introducing a new product to the market.
Risks of skipping commercialisation?
Higher market-entry risk and potential failure to meet consumer expectations.
What is inbound marketing?
Earning consumer attention through valuable, relevant content throughout their journey.
Key stages in the inbound marketing funnel?
Attract, Convert, Close, Delight.
Define outbound marketing.
Initiating contact with consumers through ads, cold emails, and other direct methods.
Why is outbound marketing less effective today?
Often seen as interruptive, with lower engagement compared to inbound approaches.
What is internet marketing?
Promoting a brand/business online using tools to drive traffic, leads, and sales.
Benefits of internet marketing?
Micro-targeting, cost-efficiency, qualified leads, inbound strategies, and measurable analytics.
Why is social media vital for inbound marketing?
Engages customers, builds community, and supports brand culture and mission.
How does social media help understand consumer behaviour?
Allows insights into trends, preferences, and feedback directly from users.
Benefits of e-commerce for businesses?
Reduced costs, wider reach, data insights, and faster order processing.
Downsides of e-commerce for consumers?
Limited interaction, potential fraud, and inability to try products.
What drives today’s digital innovation?
IoT, big data, AI/ML, and 3D printing are reshaping business practices.
Key website design essentials?
Mobile-friendly, SEO optimized, intuitive navigation, clear CTA, and trust-building.
Essential digital marketing KPIs?
Traffic, conversion rates, cost per lead, user behavior, and sales data.
RACE model stages?
Reach, Act, Convert, Engage - mapping awareness to long-term customer loyalty.
What are the three levels of digital innovation?
Basic, transformative, disruptive - from simplifying tasks to creating new models.
How does inbound differ from outbound marketing?
Inbound earns consumer attention; outbound initiates contact to deliver a message.
Inbound marketing stages and examples?
Attract (blogs/SEO), Convert (landing pages/forms), Close (personalization), Delight (feedback forms).
Main goals for e-commerce in brick-and-mortar stores?
Brand awareness and lead generation, often supporting in-store sales.
What are key digital strategies in innovation?
Search optimization, content marketing, and social media engagement.
Why is content marketing important in digital strategy?
Adds value for consumers, supports SEO, and enhances brand authority.
