MGT 6311 Midterm Question already passed 2023

MGT 6311 Midterm Question already passed 2023What are the two biggest components of US ad spending, and how are they trending? What are the two biggest sources of online traffic, and how are they trending? How are budgets in the US changing per mobile, desktop, TV and digital? What are some of the drivers of digital marketing becoming more important? advanced customer targeting, more accurate measurement and attribution capabilities, the potential for greater efficiencies with metrics such as cost per lead and the opportunity for massive, scalable brand advocacy. Consumers spending more time online. Marketing Marketing-The creation and satisfaction of demand for a product or service. Digital Marketing Digital Marketing -Utilizing the internet and other digital channels to drive demand for products and services. Strategy Strategy-A set of ideas that outline how a product line or brand will achieve its objectives. Tactic Tactic -A specific action or method that contributes to achieving a goal. GOST goals objectives strategies tactics Strategy 5 C's context, customer, competitors, collaboraters, company Customer marketing model 1 awareness 2 interest and engagement 3 aquisition 4 customer segmentation 5 customer retention 6 support and advocacy Customer profiling demographic geographic psychographic e.g. values behavioral variables e.g. benefit sought RFM - recency, frequency, monetary Buyer journey 1. discovery a. loosening the status quo b. committing to change 2. consideration a. exploring possible solutions b. committing to a solution 3. decision a. justifying the decision b. making the selection Marketing Mix (5 P's) People, price, place, promotion, product Porter's Five Forces