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Digital and Social Media Strategies summary all lectures + book chapters + required readings + case studies

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  • Course
  • Digital and Social Media Strategies
  • Institution
  • Tilburg University (UVT)

Digital and Social Media Strategies summary all lectures book chapters required readings case studies / Tilburg University IBA year 3 minor course

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Document information

  • November 27, 2019
  • 43
  • 2019/2020
  • Summary

Subjects

  • minor
  • year 3
  • digital
  • social media
  • case study
  • strategy
  • tilburg university
  • digital social media strategy
  • iba
  • international business administration

Written for

  • Tilburg University (UVT)
  • International Business Administration
  • Digital and Social Media Strategies
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LECTURE 1 - CHAPTER 1

Digital media
Communications are facilitated through content and interactive services delivered by
different digital technology platforms including the internet, web, mobile phone etc.

Digital marketing
The application of the internet and related digital technologies in conjunction with
traditional communications to achieve marketing objectives.

Main types of media channels
1. Paid media bought media where there is investment to pay for visitors, reach or
conversions through search, display etc.
2. Owned media media owned and controlled by a brand
3. Earned media audience is reached through editorial, comments and sharing online




Range of options available
- Desktop, laptop and notebook platforms: email, desktop apps
- Mobile phone and tablet platforms: mobile-based apps
- Other hardware platforms: gaming, wearables
- Software platforms SaaS

,Key features of digital marketing strategy
- Be aligned with business and marketing strategy.
- Use clear objectives for business and brand development.
- Be consistent with the types of customers.
- Define a compelling, differential value proposition for the channel.
- Specify the mix of online and offline communication tools used to attract visitors.
- Support the customer journey through the buying process.
- Manage the online customer lifecycle through the stages of attracting visitors to the website.

Applications of digital marketing
- Advertising medium display ads on sites or social networks to create
awareness
- Direct-response medium targeted search advertising
- Platform for sales transactions online flight booking e.g.
- Lead-generation method
- Distribution channel distributing digital products
- customer service mechanism self-serving
- relationship-building medium interacting with your customers to better understand needs

Benefits of digital marketing
1. Identifying customer needs and wants
2. Anticipating customers can access information and make purchases; evaluate
demand
3. Satisfying achieving customer satisfaction

Challenges of digital marketing
1. Coordination complexity within the firm
2. Monitoring competitors’ actions
3. High costs
4. Adapting to constant changes in digital marketing platforms and technological developments
5. Budget wastage

Internet can be used to achieve strategic directions:
1. Market penetration
2. Market development
3. Product development
4. Diversification

,CASE STUDY 4 - ASOS SHIFTS FOCUS OF HIGH-STREET RETAILING

Elements of the brand wheel:
- Internal: passionate about people, continuous improvement, fashion with integrity
- External: world’s best fashion, best fashion experience, service I want

Speed and accuracy are critical factors to success.
Constantly adding convenience and choice for customers.

Growth of the company has been largely driven by social media

LECTURE 2 - CHAPTER 5

Marketing mix
The series of seven key variables that are varied by marketeers as part of the customer
offering; used for application of marketing strategy; gives a framework for comparing an
organisation’s existing services with competitors and can be used as a mechanism for
generating alternative strategic approaches; a well-established conceptual framework

that helps marketers to plan their approach to each market.
→ Four P’s: Product, Price, Place, Promotion

→ Extended to: People, Process, Physical evidence, (Partnerships)

Why is it important?
- provides a checklist of decisions which marketers must make
- allows marketers to integrate, or mix, these decisions together and allocate their
resources accordingly
- serves as a framework for comparing against competitor's offerings

Digital marketing affects traditional marketing mix:
> Product: looking at opportunities for modifying the core or extended product for digital
environments.
> Price: focussing on the implications for setting prices in digital marketers; new pricing models
and strategies.
> Place: considering the implications for distribution for digital marketing.
> Promotion: exploring promotional techniques in advance.
> People, process, physical evidence: reviewing the principal ideas.

, Four C’s considers the four P’s from a customer perspective:
- customer needs and wants (from the product)
- cost to the customer (price)
- convenience (relative to place)
- communication (promotion)

Digital media and technology provides many new opportunities for the marketer:
- to vary to application of marketing mix
- to develop new routes to delivering competitive advantage
- to create new market positions
- to build and service relationships in increasing innovative ways
- to cut through the barriers of time and space and offer continuous access to products

8th P = partnerships = co-marketing
A partnership agreement reached between different businesses to promote each other,
typically based on sharing content principally to the audience of owner media channels
such as social media, blogs, and email marketing.

Marketing mix variables:

1. Product
Refers to characteristics of a product, service, or brand. It involves researching
customer’s needs and developing appropriate products.

→ most affected by digital transformation: Information goods (books, movies etc)

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