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Principles of Marketing for a Digital Age - Summary
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Summary Principles of Marketing for a Digital Age, ISBN: 9781526423344 Marketing Principles
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- Internet of Everything (IoE) is defined as the networked connection of things,people, process, and data.
- The Internet of Things (IoT), refers to physical objects capable of connecting to the
Internet and capturing, communicating, and analyzing data and communication.
IoT gateways including RFID tags, GPS, and accelerometers, can be attached to any
object, making the object “smart.”
- Internet of People (IoP) means that people connect (P2P) through networked
devices (IoT) as well as through social networks.
- Internet of Data (IoD) refers to the data produced, captured, analyzed, and
processed to inform decisions. The data may be generated by things or people,
declared (data voluntarily reported by a user) or inferred (predictive analytics).
- Internet of Process IoP is a process which refers to the management, analysis,
communication, and application of data. E.g. Cloud computing is a process.
Martech: a combination of digital technology and marketing.
Societal marketing concept: to determine theneeds, wants, and interests of target
markets and to deliver the desired satisfaction more effectively and efficiently than
competitors in a way that preserves or enhances the consumer’s and society’s
well-being.
Several related marketing approaches: social marketing, cause marketing, cause-related
marketing, corporate philanthropy, and corporate social responsibility.
,
, 4 P’s (+ 3P’s services)
- product
- price
- place
- promotion
- people
- process
- presence
Buyers can be individuals, groups or organizations.
B2C marketers study end-user behavior.
B2B marketers study the behavior of buyers in organizations.
Understanding the buyer behavior:
- What do consumers think about brands, products and retail?
- How does “culture” influence buyers’ decisions and behavior?
- How do motives, lifestyle, personality and knowledge influence decisions and
behavior?
- How do people evaluate a purchase decision?
- How do people dispose of products?
Consumer decision model:
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