Midterm Study Flashcards
(113 cards)
Social networking, blogs, RSS, podcasts, mobile editions, digital editions, etc. are examples of what?
Digital Distribution Channels
The creation and satisfaction of demand for a product or service.
Marketing - some people define it as “advertising,” but that does not cover the entire field of marketing
Utilizing the Internet and other digital channels to drive demand for products and services.
Digital Marketing
A set of ideas that outline how a product line or brand will achieve its objectives.
Strategy
A specific action or method that contributes to achieving a goal.
Tactic
Who said: the business enterprise has two - and only two - basic functions: marketing and innovation.
Peter Drucker, Management Theory Guru
What are the 5 Cs for strategy?
Customers, Competitors, Collaborators, Company, Context
Potential buyers with wants and needs that the company aims to fulfill with its offerings.
Customers
Organization or business unit providing certain goods or services.
Company
Organizations that offer products or services that aim to fulfill the same wants and needs of the same customers as the company’s offering.
Competitors
External business entities that work with the company to create value for customers.
Collaborators
Environment in which the company operates and its associated elements.
Context
Creating an identification moment in the customer’s mind.
Awareness
Informing the customer about your offerings and encouraging them to learn more.
Interest & Engagement
Where we convert a prospect into a customer.
Acquisition
Begin to differentiate between customer segments and market to them accordingly.
Customer Segmentation
Focus on convincing existing customers to purchase again.
Customer Retention
Satisfying customers to the point that they spread the word about our offerings.
Support & Advocacy
Discovery, consideration, and decision.
The Buyer Journey
What are The Four Ps?
Price, Product (or service), Placement (distribution), Promotion
What are Porter’s Five Forces?
Power of Customers, Threat of New Entrants, Power of Suppliers, Threat of Substitute Products, Competitive Rivalry within the Industry
Name the parts of the Digital Marketing Strategy Framework.
- Define Digital’s Mission
- Derive the Digital Strategy
- Derive the Interaction Strategy Across the Customer Lifecycle
- Measure and Improve ROI
What is PESTLE?
Used to identify a clear set of considerations or issues pertinent to the marketing strategy - Political, Economic, Social, Technological, Legal, Environment
Research, plan, and strategize. Use the opportunities of digital to meet communication, market, and product challenges. Plan assets and campaigns.
Think