Summary
CM2093 DIGITAL MARKETING SUMMARY
- Course
- Institution
Summary of all the lectures + notes
[Show more]
Seller
Follow
isjaterng
Reviews received
Content preview
DIGITAL MARKETINGLECTURE WEEK 1
Focus on consumers and other stakeholders in communicating their brand and value
proposition and marketing their products/services
Technology – a part of who we are?
- Technology is an aspect of our human existence it brings forth and makes
apparent the very essence of our Being (Heidegger, 1977)
- Nowadays ‘being’ has the character of a technological ‘framework’, from which
humans approach the world in a controlling and dominating way
- Looking through the lens of technology, the world is revealed as raw material,
available for production and manipulation
- Humans are also seen as raw material and controlled by technology
we are an instrument for production
we are a human resource to be arranged and disposed of
Human hybrids – we are merged with technologies however, if knowledge/control is lost,
people often feel vulnerable, frustrated and angry, as if the machine has somehow invaded
them or taken something from them
Argumented bodies – technology will allow us to make modifications to our body, senses
and physiological process, and it will provide us with enhanced memory, communication and
productivity exosuits, brain implants to improve memory
As advances in areas such as robotics, sensor technology, computer vision and voice and
facial recognition continue to be made the lines between human and computer
capabilities are blurred
Technology will be invisible
- Is it a hologram? Virtual or physical?
- Is it a chatbot or a real person?
- WIFI routers will control the functions in our house without our interference
Digitalization – describes how IT or digital technologies can be used to alter existing business
processes e.g. the creation of new online or mobile communication channels that allow
all customers to easily connect with firms, and which change traditional firm-customer
interactions
Digital technologies – electronic tools, systems, devices and resources that generate, store
or process data e.g. 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
Adoption and diffusion of technology
, Diffusion of innovation/adoption of technology
Technology Acceptance Model (TAM)
Explains why some technology became popular and even the laggards and late adopters
want to buy the technology sooner or later
The more a technology is accepted, the grater and faster will be its adoption
Digital transformation
External Drivers of Digital Transformation Phases of Digital Transformation
- Digital Technology mobiles, IA, - Digitization analog to digital
browsers - Digitalization IT and digital
- Digital Competition Google, technologies
Amazon, Facebook - Digital Transformation new
- Digital Customer Behavior money business models
Strategic Imperatives of Digital Transformation
- Digital Resources
- Organizational Structure
- Growth Strategy
- Metrics and Goals
Digitization – described 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”
Digital resources – represents a firm’s ownership and control of assets and capabilities
assets are storage of data, ICT infrastructure, technologies to compete in digital era
(software, hardware) agility: ability to seize market opportunities ability to analyze
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)
The Ansoff Matrix
Digital growth strategies for platform firms
Platform diversification
- Create additional growth in unexplored markets with new products
- Expanding the platform to serve new markets, update the product and service
assortment, and open the firm to cocreate value by partnering with sponsors and
users
Digital marketing (according to Institute of Direct and Digital Marketing, IDM) – the
management and execution of marketing using electronic media such as the web, email,
interactive TV, wireless media in conjunction with digital data about customers
characteristics and behavior
Marketing – the science and art of exploring, creating, and delivering value to satisfy the
needs of a target market at a profit (Kotler)
MARKETING MIX 4PS
Product
- Development
- Line width, assortments
- Packaging
- Naming, logos, trademarks
- Quality
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller isjaterng. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.96. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now