first 3 lectures

Question 1

How is marketing defined in this course?

Answer 1

Marketing is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

Question 2

What is the exchanging process of products?

Answer 2

Exchange processes involve work where sellers must search for buyers, identify their needs, design good products and services, promote them, and store and deliver them.

Question 3

What does marketing do for your business in 5 words points?

Answer 3

1. Raising brand awareness
   2.engagement and communication
   3.personalization
   4.sales
   5.analytics

Question 4

What is brand awareness?

Answer 4

Brand awareness refers to how recognizable an organization is based on its logo, style, and reputation, helping businesses retain customers and reach new ones.

Question 5

What role does engagement and communication play in marketing?

Answer 5

Engagement marketing refers to in-person or online interactions and communications a business might use to promote its products and services.

Question 6

What is engagement marketing?

Answer 6

Engagement marketing involves interactions and communications, either in-person or online, used by a business to promote its products and services.

Question 7

How does a business engage with customers?

Answer 7

A business may engage with customers or other businesses through social media, email, or customer service.

Question 8

Can you explain the concept of personalization in marketing?

Answer 8

Personalization in marketing is when businesses customize experiences for individual customers, like addressing them directly by their name or offering special promotions based on their relationship with the business.

Question 9

What are marketing strategies that can help you engage customers?

Answer 9

Creating social media and SEO content like blogs or articles, which can boost customer engagement and develop lasting relationships by customizing content to the target audience’s interests.

Question 10

How can social media and SEO help your business engage?

Answer 10

Social media and SEO increase visibility and interaction through content tailored to the target audience’s interests, boosting engagement.

Question 11

Why is communication marketing important?

Answer 11

Communication marketing can influence how customers view businesses, leading to increases in sales, customer loyalty, and referrals.

Question 12

What are the ways of personalization?

Answer 12

Personalization can be achieved through direct communication, using customer names, and offering promotions based on customer relationships.

Question 13

What are the benefits of personalization?

Answer 13

Personalization builds loyalty and interest, making consumers more likely to use the business’s product or service.

Question 14

How does marketing influence sales?

Answer 14

Marketing informs consumers about what a business offers, its value, and what sets it apart from competitors, targeting individuals or groups more likely to buy.

Question 15

How are analytics useful in marketing?

Answer 15

Marketing analytics provide data and numbers to help professionals make informed marketing decisions for the greatest ROI (Return On Investment).

Question 16

How does analytics help maximize a company’s chances to increase sales?

Answer 16

Analytics help identify audiences previously not engaged with the business, developing future campaigns to specifically address those audiences.

Question 17

What is digital marketing built on?

Answer 17

Digital marketing builds on the database of customers and prospects, creating a constant flow of communications between customers and suppliers.

Question 18

What are the benefits of digital marketing in 4 points?

Answer 18

Easier creation of awareness and engagement, converting new buyers into fans, kickstarting word-of-mouth and social sharing, and shortening the buyer’s journey.

Question 19

What are some examples of digital media channels used in digital marketing?

Answer 19

Examples include search marketing, online advertising, and affiliate marketing.

Question 20

Discuss the importance of customer engagement in digital marketing.

Answer 20

Customer engagement is crucial for understanding customers better, maintaining dialogue, and driving business through customer feedback.

Question 21

What are the potential dangers of digital silos in larger businesses?

Answer 21

Digital silos can damage integrated communications, leading to a disjointed customer experience.

Question 22

How can digital marketing shorten the buyer’s journey?

Answer 22

By presenting the right offers at the right time, improving customer decision-making processes.

Question 23

What are the forms of collaboration between marketplace members?

Answer 23

The document outlines digital communications in B2B and B2C interactions, emphasizing the shift from traditional to digital models.

Question 24

What are the challenges and opportunities in B2B digital marketing?

Answer 24

This specific topic is not covered in the reviewed sections of the document.

Question 25

What is the impact of customer-to-customer (C2C) interactions in digital marketing?

Answer 25

C2C models and social media’s role are mentioned, highlighting the influence of platforms like eBay and social networks in disrupting online business technology.

Question 26

How can customer-to-business (C2B) models be effectively used in digital marketing?

Answer 26

C2B involves customers creating content, with businesses facilitating it, as exemplified by travel companies like TripAdvisor.

Question 27

What is the importance of user-generated content (UGC) in C2B models?

Answer 27

UGC is crucial for facilitating customer interaction and engagement, especially in industries like travel.

Question 28

What are the types of online presence in digital marketing?

Answer 28

Identified types include transactional e-commerce sites, services-oriented relationship building sites, brand-building sites, portal or media sites, and social network or community sites.

Question 29

How do transactional e-commerce sites contribute to digital marketing?

Answer 29

They enable online purchasing and contribute to sales, also providing information for offline purchases.

Question 30

What is the significance of service-oriented relationship building websites?

Answer 30

These sites provide information to stimulate purchases and build relationships, mainly through offline sales and lead generation.

Question 31

How do brand-building sites support digital marketing strategies?

Answer 31

They develop an online brand experience through content marketing and social media integration, particularly for low-value, high-volume goods.

Question 32

What are the functions of portal or media sites in digital marketing?

Answer 32

These sites act as information gateways, generating revenue through advertising, affiliate marketing, and content access sales.

Question 33

How do social network or community sites play a role in the digital marketing mix?

Answer 33

They enable community interactions, increase advertising revenue, and integrate social interactions into various site types.

Question 34

What is the Digital Marketing Mix and its importance?

Answer 34

The document discusses the evolution from the traditional 4Ps to the digital 7Ps, stressing the need for adaptation in the digital realm.

Question 35

How does the Digital Marketing Mix differ from the traditional marketing mix?

Answer 35

The expansion from the traditional 4Ps to the digital 7Ps is highlighted, accommodating various aspects of digital marketing.

Question 36

Can you explain the concept of Product in the context of the Digital Marketing Mix?

Answer 36

It refers to physical products and services, focused on meeting online customer needs and adding digital value.

Question 37

How has digital technology influenced the evolution of products?

Answer 37

Digital technology allows for the addition of digital value to products and services, enhancing their online presence.

Question 38

What is the role of Online Value Proposition (OVP) in digital marketing?

Answer 38

OVP aligns with the offline proposition, offering benefits like immediacy, interactivity, and enriched experiences.

Question 39

What is the significance of a transactional e-commerce site in the digital marketing mix?

Answer 39

These sites are crucial for enabling online sales and providing offline purchase information.

Question 40

How do services-oriented relationship building websites function in the digital marketing ecosystem?

Answer 40

They focus on encouraging offline sales and generating inquiries or leads, adding value to customers by providing relevant information.

Question 41

What role do brand-building sites play in digital marketing?

Answer 41

Brand-building sites support the brand by developing an online experience through content marketing integrated with social media, especially for low-value, high-volume consumer goods.

Question 42

How do portal or media sites contribute to a digital marketing strategy?

Answer 42

Portal or media sites provide information and content, generating revenue through advertising, affiliate marketing, and selling content access.

Question 43

What is the importance of social network or community sites in digital marketing?

Answer 43

Social network or community sites enable community interactions and engagement, increasing advertising revenue and integrating social interactions into various site types.

Question 44

What is the role of transactional e-commerce sites in digital marketing?

Answer 44

Transactional e-commerce sites enable online purchases and contribute to sales while providing information for consumers who prefer offline purchases.

Question 45

How do service-oriented relationship building websites contribute to digital marketing?

Answer 45

These sites focus on providing information to stimulate purchases and build relationships, mainly through offline sales and generating leads or inquiries.

Question 46

What are the key functions of brand-building sites in digital marketing?

Answer 46

Brand-building sites support the brand through an online experience, using content marketing and social media to engage consumers, particularly for consumer goods.

Question 47

How do portal or media sites fit into the digital marketing mix?

Answer 47

Portal or media sites act as gateways to information and services, generating revenue through diverse channels like advertising and content sales.

Question 48

What is the significance of social network or community sites in digital marketing?

Answer 48

These sites are crucial for enabling community interactions, content sharing, and enhancing brand engagement through social media platforms.

Question 49

How does the concept of product evolve in the context of digital marketing?

Answer 49

Digital marketing expands the concept of a product to include service propositions and online experiences, emphasizing customer needs and online sales channels.

Question 50

What is the significance of adding digital value to products?

Answer 50

Adding digital value extends products into the online world, enhancing customer experiences and meeting diverse consumer needs.

Question 51

How do complex industrial products benefit from digital marketing?

Answer 51

Complex industrial products benefit from digital marketing by leveraging online platforms for education, training, testing, installation, and service integration.

Question 52

What are the implications of the idea that all products eventually become services?

Answer 52

This idea suggests a shift towards service-oriented models, where after-sales and ongoing customer experiences gain more importance in the digital realm.

Question 53

How do digital products and customer experiences differ from traditional ones?

Answer 53

Digital products and experiences focus on online interaction, community building, and sharing information, reflecting a shift from physical to virtual consumer engagement.

Question 54

What is the Online Value Proposition (OVP) and its importance in digital marketing?

Answer 54

The OVP encompasses the entire experience of selecting, buying, and using a product or service, offering benefits like immediacy, interactivity, and enriched experiences.

Question 55

How should businesses approach the Online Value Proposition?

Answer 55

Businesses should ensure their OVP aligns with their offline proposition while leveraging online advantages like immediacy, interactivity, and virtual experiences.

Question 56

What are the challenges of ensuring a consistent Customer eXperience (CX)?

Answer 56

The document does not explicitly cover this question.

Question 57

What are the controllable variables in the digital marketing mix?

Answer 57

Controllable variables include product quality, availability, image, price, and service, akin to the traditional 4Ps but expanded in the digital context.

Question 58

How do the 7Ps of digital marketing differ from the traditional 4Ps?

Answer 58

The 7Ps expand upon the traditional 4Ps to accommodate additional aspects like physical evidence, people, and process, especially relevant in digital marketing.

Question 59

How does product quality influence digital marketing strategies?

Answer 59

Product quality remains a crucial factor, as it influences customer satisfaction and brand reputation, both of which are amplified in the digital sphere.