L1 Flashcards
Why are the four P:s changing and in what way?
The digital dimension changes them and adds three new
- Products made smart
- Price easy to compare
- promotion through digital devices
- People in both worlds
- physical evidence with digital touch
- process often complicated
Define digital marketing
activities, institutions and processes facilitated by digital technologies for creating, communicating and delivering value for costumers and stakeholders
(From products to services, empowered by technology)
Three new aspects of digital marketing
- From costumer to connected costumer (impact each other)
- Paradoxes (online/not online, informed/distracted, positive/negative advocates)
- Marketing 4.0 (combine offline and online, combine traditional and digital)
Why AI now? What should companies do?
It creates a lot of revenue
Has capabilite to help in every day life
Companies need to collect data in order to get insights
Explain triangle model
Relationship between company, costumer and employees
Require internal, external and interactive marketing
Explain pyramid model
Triangle model+technology
Need to manage new links well to maximize marketing effectiveness
Technology readiness
How prone people are to use technology in their everyday life
Paradoxes that triggers positive or negative feelings
Combination results in technology readiness
Four revolutions
- Water and steam
- Electricity
- Electronics and information
- Combination
Opportunities in forth revolution
Lower barriers between inventors and markets
More active role for AI
Integration of technics and domains (fusion)
Improved quality of lives (robotics)
Connected life (Internet of things)
Challenges in forth revolution
Inequiallity
Cybersecurity, vulnerability
Ethical dilemas
Service encounter 2.0
Technologies + human actors + physical/digital environment + company/customer process
Costumer co-create
Four business model
• Asset builders (Physical capital that deliver value through building, marketing, distributing and leasing physical things)
• Service providers (Value trough skilled people, human capital)
• Technology creators (Intellectual capital)
• Network orchestrators (Combining products, networking products to each other
Connecting people, products, providers, processes etc.)
The new employee and the new costumer acts like
Enabler
Innovators
Coordinator
Differentiator
