Chapter 13: Digital Marketing & Social Media

Digital Media

electronic media that function using digital codes

- tends to be the most consumer driven

Accessibility (digital marketing)

the ability for marketers to obtain digital info.

Control (digital marketing)

the customers ability to regulate the info. they view, the rate, & the exposure

difference between e-business & traditional business?

e-business goals are carried out through the use of the internet

items that are part of digital marketing

• digital outdoor marketing

• banner ads

• social networks

• mobile phones

characteristics of digital marketing

addressability,

interactivity,

accessibility,

connectivity,

control

addressability

the ability of the marketer to identify customers before they make a purchase (ex: cookies)

interactivity

the ability of customers to express their needs and wants directly to the firm in response to its marketing communications

connectivity

the ability for consumers to be connected w/ the marketers along w/ other consumers

T or F: the Internet has offered businesses the opportunity to target markets more precisely

True! the internet HAS offered more precise to target markets

product considerations in digital marketing

• need to continuously upgrade

• must anticipate consumers needs

• must tailor products to meet needs

why do people tend to spend less time shopping?

they have already determined what they want online

Omni-channel retailing

retailers that offer seamless experience on their mobile, desktop, or traditional retail spaces

promotion digital media can

• increase brand awareness

• connect w/ customers

• take advantage of social networks

what benefit does digital media bring to the PRICE element of the marketing mix?

it allows discounts & other promotions to be QUICKLY communicated

earned media

word-of-mouth or buzz using social media where the advertiser has no control

user-generated co tent relates to:

consumers who create, converse, rate, collect, join, or read online materials ex: Yelp

3 ways social media can support a firms marketing objective

1. can help firms understand the social/economic development

2. can be used to monitor target market competitors

3. can help build campaigns that generate brand advocates

- social media should be included in corporate & marketing strategy

about what % of the world populations uses the internet?

40%

paid media

includes display ads, sponsorships, and paid key word searches. as well as paid advertising on social networks

owned media

includes firms own website & its social media sites such as fb

relationship marketing

the creation of relationships that mutually benefit the marketing business & customer is enhanced wS the use of social networks

twitter

• being used by companies to gain a competitive advantage

• hybrid of social networking site & micro-blogging site