Summary of all 4 Digital Marketing Sessions (SIM2)
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Course
Online Marketing (LBVB20SIM2)
Institution
Hanzehogeschool Groningen (Hanze)
This summary includes all 4 sessions that were part of the online / digital marketing course taught in period 3 of year 2 at IBS. The only thing it does not include is the 4 videos that were part of the material as well, as I assume these videos change ever year. The keywords and most important ter...
Week 1 - Digital Marketing & Sales
Digital Marketing & Sales
E-business is the optimization of a company’s business activities using digital technology.
E-commerce is the subset of e-business focused on transactions.
E-marketing is the result of information technology applied to traditional marketing.
- E-marketing is bigger than the Web. The Web is the portion of the internet that supports
a graphical user interface for hypertext navigation with a browser. The Web is what most
people think about when they think of the internet. Electronic marketing reaches far
beyond the Web.
Network externality: businesses can reach more of their markets with automated
communication, and consumers can disseminate brand opinions worldwide in an instant.
- You buy a product from finland, you live in australia but you post on dutch social media
channels.
- On one hand businesses can reach more but at the same time it gives more power to
customers: customers put complaints online, for example.
Information equalizer: companies employ mass customization of communication, and
consumers have more access to product information and pricing.
Bits, not atoms: information, products and communication in digital form can be stored, sent and
received nearly instantaneously. Text, audio, video, graphics, and photos can all be digitized.
Mediating technology: peer-to-peer relationships, such as auctions, social networks, and
business partnerships, can be formed regardless of geographic location. Technology allows
timely communication and data sharing, as with businesses in a supply chain.
Global reach: opens new markets and allows for worldwide partnerships, employee
collaboration, and salesperson telecommuting.
Time moderator: consumers hold higher expectations about communication with companies and
faster work processes within companies.
Scalable capacity: companies pay for only as much data storage or server space as needed for
profitable operations and can store huge amounts of data.
Open standard: companies can access each other's databases for smooth supply chain and
customer relationship management, which connects large and small firms.
Market deconstruction: many distribution channel functions are performed by nontraditional
firms and new industries emerged.
Task automation: self-service online lowers costs and makes automated transactions,
payments, and fulfillment possible.
Superior content beats out a superior delivery platform, over time, the inferior delivery platform
will catch up in quality. Younger users drive these trends in 2 ways:
1. Younger users tend to be more price sensitive
2. Younger users value constant connectivity
,Web 3.0 includes: higher bandwidth, faster connection speeds, AI, seamless social networking
& modular web applications.
The value of the semantic web is information on demand, and it is believed that the semantic
web will become a reality over the next decade.
Digital Marketing Models
There are different digital marketing models. These provide useful frameworks for digital audits,
planning and strategy. They deliver input to conduct audits, review online communications. They
also ensure the consistency of marketing messages.
Forrester’s 5Is: a classic digital customer communication model. It takes into account the level
of involvement, interaction, intimacy, and influence an individual has with a brand over time.
1. Involvement: a person’s presence. Measured via web analytics like site traffic, etc.
2. Interaction: buying a product for example. Measured via customer interaction w/ brand.
Also signing up for mails, posting a comment, uploading a photo.
3. Intimacy: affinity a person exhibits, for example the meaning behind a blog post or
comment, a product review, etc. Measured via qualitative interaction which includes
brand awareness, favorability and sentiment.
4. Influence: the likelihood a person will recommend your product or service to someone
else. These metrics come from surveys. Measured via share rate, reviews, mentions.
5. Individual: this model focuses on individuals rather than groups or communities.
Lauterborn’s 4Cs: an updated version of 4Ps (price, product, etc.). Focuses on the customer
which is used for internal audits and competitor comparison.
1. Consumer wants and needs - corresponding to Product in the Marketing Mix
2. Cost to satisfy - corresponding to Price
3. Convenience to buy - corresponding to Place
4. Communication - corresponding to promotion
Customer centric is the keyword here.
10 Cs of Marketing: a digital marketing audit model that can be used for internal & external
analyses. Customer centered approach.
1. Customer
2. Corporate Culture
3. Convenience
4. Competition
5. Communications
6. Consistency
7. Creative Content
8. Customisation
9. Coordination
10. Control
, 6 Cs of Customer Motivation: a useful marketing planning and online customer communications
model for developing your website or online community. Used to assess the benefits of a
website and online services offers online audiences, as well as those of your competitors.
1. Content
2. Customisation
3. Choice
4. Cost Reduction
5. Convenience
6. Community
Hofacker’s 5 stages of information processing: a useful framework to use when building online
communities, planning It includes 5 stages if information processing:
1. Exposure
2. Attention
3. Comprehension and perception
4. Yielding and acceptance
5. Retention
RACE Planning: aims to help marketers to develop digital marketing plans focused on sales
growth. Its stages are:
1. Plan
2. Reach
3. Act
4. Convert
5. Engage
Technology Acceptance Model (TAM): can be used to test adoption of new technology based on
positive attitudes towards client benefit and user experience. It is mostly used and developed by
PhD students. TAM was designed to measure the adoption of new technology based on positive
attitudes towards 2 measures: perceived usefulness & perceived ease of use.
4Cs for marketing communications: a useful marketing strategy model for developing Online
Value Proposition (OVP). A tool used to create a positioning statement, the 4Cs consist of:
1. Clarity
2. Consistence
3. Credibility
4. Competitiveness
McKinsey’s Consumer Decision Journey: reviews the online customer journey from
consideration to purchase. The steps are:
1. Align
2. Link
3. Lock
4. Loop
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