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Digital Marketing Summary
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Summary of the seminars from Digital Marketing (CM2093) course at Erasmus University Rotterdam.
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Digital MarketingWeek 1 – Introduction to Digital Marketing
Technology = The application of scientific knowledge to the practical aims of human life or 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
If knowledge / control is lost, people feel vulnerable, frustrated and angry, as the machine has somehow
invaded them or taken something from them
Augmented bodies = Technology will allow us to make modifications to our body, senses, physiological
processes, and it will provide us with enhanced memory, communication and productivity
Exosuits
Brain implants to improve memory
The technological developments blurred the lines between human and computer capabilities → Technology is
becoming “invisible”.
Technology Adoption Curve
Innovators = The technology has a lot of flows at this state. People try to develop it
Early Adaptors =They want a technology that is new and understands that they technology has flaws. The
social aspect to it is being the “earliest”
- Going from this step to next one is important because if interest is still low, that means the companies
are going to stop investing in it.
Early Majority = They are cautious with the technology. They want the technology to have less flaws so that
they can use it.
Late Majority = They use technology because they don’t have any other choice. They are doing because other
people are doing it.
Laggards = They are against the technology, and they do not want to use the technology in question
Technology Acceptancy Model (TAM)
The more technology is accepted, the greater and faster its adoption will be
From technology to digital technology
Digital Technologies = Are electronic tools, systems, devices and resources that generate, store and process
data. Ex: social media, online games, multimedia and phones
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,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
Digitalization = How IT and 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 Flow
• External Drivers of Digital Transformation
o Digital Technology
▪ Non-digital companies don’t create data – disadvantage in today’s market
o Digital Competition
▪ New competition
▪ New competitive landscape
o Digital Customer Behavior
▪ We are much more informed
▪ We demand more
▪ Useful, cheap
• Phases of Digital Transformation
o Digitization
▪ describes the action of converting analog information into digital information.
o 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)
o 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"
▪ Netflix used to send DVD’s to the customers but they adapted technological
developments – changed the business model
• Strategic Imperatives of Digital Transformation
o Digital Resources
▪ represent 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.
o Organizational Structure
o Growth Strategy
o Metrics and Goals
▪ To realize the full potential of digital transformation, digital firms need to measure
the performance improvements on key performance indicators (KPIs)
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, The Ansoff Matrix
Digital Growth Strategies for Platform Firms
Penetration = Product is
brought to another market
Co-creation = Letting
customers be the product
Platform diversification = Create additional growth in unexplored markets with new products
- Expending the platform to serve new markets
- Google – googleplay, google translate, google drive etc.
Marketing Mix 4 P’s
Marketing is the science and art of exploring, creating and delivering value to satisfy need of a target market
at a profit
Product
- Development
- Packaging
- Naming
- Logos
- Trademarks
Price
- Level
- Discounts
- Payment terms
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