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Digital Marketing Summary
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Week 2 (Introduction to Digital Marketing)Lecture 1
Technology
- The application of scientific knowledge to the practical aims of human life or, as it is sometimes
phrased, to the change and manipulation of the human environment (Britannica)
- The creation, usage and knowledge of tools, techniques, crafts, systems, or methods or
organization, to solve a certain purpose
Merging technology and humans
-> Even though we are merging with technologies when control and knowledge is lost, people often feel
vulnerable, frustrated, and angry, as if the machine has somehow invaded them or taken something from
them (Downey, 1998 as cited in Jackson, 2002)
Argumented bodies: Technology will allow us to make modifications to our body, senses and
physiological processes, and it will provide us with enhanced memory, communication and productivity
E.g. Exosuits, Brain implants to improve memory
-> Lines between human and computer capabilities are blurred -> Technology is becoming increasingly
invisible
,Technology Acceptance Model (TAM)
Digital Technologies: Are electronic tools, systems, devices and resources that generate, store, and
process data. Well known examples include social media, online games, multimedia and mobile phones
Data: The quantities, characters, or symbols on which operations are performed by a computer, which
may be stored and transmitted in the form of electrical signals
External Drivers of Digital transformation
- Digital Technology
- Digital Competition
- Digital Customer Behavior
Phases of Digital Transformation
- Digitization: Describes the action of converting analog information into digital information
- Digitalization: Describes how IT or digital technologies can be used to alter existing business
processes (optimizing existing business processes; seize new business possibilities by changing
existing business processes, such as communication)
- Digital Transformation: describes a company-wide change that leads to the development of new
business models: “how the enterprise creates and delivers value to customers, and then converts
payment received to profits”
Strategies Imperatives of Digital Transformation
- Digital resources: represents a firm’s ownership and control of assets and capabilities. Assets are
storage of data, ICT infrastructures technologies to compete in digital era (software, hardware),
Agility: Ability to seize market opportunities. Ability to analyse customer data.
, - Organizational structure that is flexible and can react fast to digital change. Develop new and
often disruptive business models in autonomous business units that are separated from the
headquarters, allowing for experimentation and quick learning. Employees should have good
digital skills
- Metrics and goals: To realize the full potential of digital transformation, digital firms need to
measure the performance improvements on key performance indicators (KPIs Key performance
indicator)
The Ansoff Market
, Platform Diversification
- Create additional growth in unexplored markets with new products
- Expanding the platforms to serve new markets, update the product and service assortment, and
open the firm to cocreate value by partnering with sponsors and users.
Marketing: Definition and Marketing mix 4 P’s
Marketing is the science and art of exploring, creating and delivering value to satisfy need to a target
market at a profit (Kotler, 2005)
Product
- Development
- Line width, assortments
- Packaging
- Naming, logos, trademarks
- Quality
Price
- Level
- Discounts (e.g., quantity, cash)
- Payment terms
Promotion
- Brand positioning
- Advertising
- Media
- Sales promotion, coupons, contests
- Publicity
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