Digital Marketing Full Summary (8 weeks)-IBCoM Focus Area
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Module
Digital Marketing
Institution
Erasmus Universiteit Rotterdam (EUR)
This summary includes notes of all the lecture slides and important information from the course textbook. It is a summary of the 8 weeks long class on digital marketing strategies, tools which is also informative about the steps of creating a digital communication strategy.
Week 1: Introduction, technology adoption, and digital transformation
1) technology adoption
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
- the creation, usage, and knowledge of tools, techniques, crafts,
systems or methods of organization to solve a problem or serve some
purpose or end
Merging technology and humans:
- augmented bodies;
technology will allow us to make modifications to our bodies, senses,
physiological processes, and it will provide us with enhanced memory,
communication and productivity
e.g exosuits
e.g brain implants
as advances in the areas such as robotics, sensor technology, artificial
intelligence, and voice & facial recognition continue to be made, the lines
between human and computer capabilities are blurred
- real or fake
- virtual of physical
- chatbot or real person
- photo or AI product
What determines the adoption of technology?
Technology Adoption Model (TAM)
- the more a technology is accepted, the greater and faster its adoption will be
,The Diffusion of Innovation and Acceptance of Technology
- the technology adoption curve
From technology to digital technology
digital technologies: electronic tools, systems, devices and resources that
generate, store or process data
data: the quantities, characters, or symbols on which operations are
performed by a computer, which may be stored and transmitted in the form of
electronic signals
2) digital transformation
digitization: the action of converting analog information into digital information
digitalization: how IT or digital technologies can be used to alter existing
business processes (optimizing them and seizing new business possibilities by
changing existing processes, such as communication)
digital transformation: 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”
e.g of digital transformation: the cases of Blockbuster and Netflix
,Digital transformation flow;
1. external drivers of digital transformation
- digital technology
- digital competition
- digital customer behavior
e.g Microsoft and OpenAI vs. Alphabet and BardAI
2. phases of digital transformation
- digitization
- digitalization
- digital transformation
3. strategic imperatives of digital transformation
- digital resources: 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
- growth & strategy
- metrics & goals: to realize the full potential of digital transformation,
digital firms need to measure the performance improvements on key
performance indicators (KPIs)
Week 2: The digital consumer
different generations are different customers
1983: birth of internet
1991: first web page
1993: first web browser
The digital consumer
digital consumer: uses digital channels, web, mobile, and social, to consume
content, engage with brands and complete a transaction
WEB 1.0
- read only web
, - content is owned by the creator only
- mostly visual, static web with no user-to-server communication
- e.g home pages and web forums
WEB 2.0
- read-write or social web
- content is shared by creators and users
- mostly programmable web with improved user interaction
- e.g blogs, wikis, and web application
WEB 3.0
- read-write-own
- content consolidated by creators and users
- linked data web with intelligent web-based functionalities and applications
- e.g live streams, waves, and smart applications
4 elements of WEB 3.0
1. decentralization
2. trustful and permissionless
3. AI and machine learning
4. connectivity and ubiquity
Effect of web 2.0 on consumer behavior;
- web 2.0 allowing user-generated content (UGC) to be individually or
collaboratively produced, modifies, shared, and consumed in a continuous
fashion
- web 2.0 is placing users into the center of attention, enabling them to create
the content instead of the company running the website
- consumers are empowered, better connected and better informed?
- in control to personalize their information and entertainment consumption
meaning that they gain satisfaction on demand
Effect of technology on consumer behavior;
- interconnectivity: networked digital technology is enabling consumers to
connect with each other more readily through various platforms and social
networks
- relevance filtering: consumers are filtering out items irrelevant to them and
ignoring anything that is irrelevant so everything is customized
- Niche is growing: the abundance and diversity of online content allows
consumers to participate and indulge their special interest and hobbies, the
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