Customer-Driven Marketing, Dimensions of the Marketing Strategy, and Digital/Social Marketing

E-Business
carrying out the goals of business through the utilization of the internet.
Digital media
electronic media that function using digital codes via computers, cellular phones, smartphones, and other digital devices that have been released in recent years
Digital marketing
uses all digital media including the internet and mobile and interactive channels, to develop communication and exchanges with customers.
Benefit of Digital marketing
the ability of marketers and customers to easily share information. Through websites, social networks, and other digital media, consumers can learn about everything they consume and use in their lives, ask questions, voice complaints, indicate preferences, and otherwise communicate about their needs and desires.
Social network
a website where users can create a profile and interact with other users, post information, and engage in other forms of web-based communication
Approximate amount of time spent on social media
37 minutes a day by your average adult
Promotion Price Product and Distribution
Parts of the marketing mix that a business needs to pay attention to whether it is an internet business or not
Characteristics that distinguish digital from traditional communication
Connectivity, addressability, interactivity, control
Electronic order processing by e-business
reduces inefficiencies, increases the speed of communications, and reduces cost
blog
a web-based journal in which a writer can editorialize and interact with other internet users
wiki
software that creates an interface that enables users to add or edit the content of some types of websites
viral marketing
a marketing tool that uses the internet, particularly social networking and video sharing cites, to spread a message and create brand awareness
podcasts
an audio or video file that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers
video-sharing sites
• allow virtually anybody to upload videos, from professional marketers at Fortune 500 corporations to the average internet users
Podcast users
between 18-32 years of age
consumer feedback
an important part of the digital media equation- posing, comments, reviews, and messages
amazon
global e-business ranked number 49 on the Fortune 500 list of Americas largest corporations. 40% of sales are from international sales
Identity theft
when criminals obtain personal information that allows them to impersonate someone else in order to use their credit to access financial accounts and make purchases
Online Fraud
any attempt to conduct fraudulent activities online
online surveys
offer good alternatives when gathering market research either in person, over the telephone, or email
cookie
can be stored on your computer to identify you as a user of a website
Twitter
a hybrid of a social networking site and a micro-blogging site that asks users one simple question: “what is happening” 215 million active users
pricing
considered the most flexible element of the marketing mix
spectators
read online information but do not join groups or post information
second life & Farmville
virtual avatar driven world
critics
consists of people who comment on blogs or post ratings and reviews on review websites such as yelp
creators
consumers who create their own media outlets, such as blogs, podcasts, consumer-generated videos, and wikis
inactives
the consumer group that do not participate in any online media.
flow of digital information depends on
Entertainment, education, health care, and government services
challenge for digital media marketers
constantly having to adapt to new technologies and changing consumer patterns
crowdsourcing
describes how marketers use digital media to find out the opinions or needs of a crowd
video sharing sites
vimeo, dailymotion, youtube
interactivity
interacting with consumers through social media channels to answer concerns or inform of updates
Information technology in the 21st century
has a defining characteristic of “accelerating change”
accessibility
for example, google using the web searches of the customer to learn more about their interest
connectivity
for example, The Avon Voices encourages others to upload videos to be voted on by others with the chance to be discovered
control
for example, consumers use kayak to discover the best travel deals
90% of illegal software copying
done by businesses
phishing
identity theft fraud where scams are sent through email that resemble a legitimate website.
the internet
a new distribution channel for making products available at the right time, at the right place, and in the right quantities
addressability
when a website installs cookies on user’s computer to allows it to identify the owner when he or she returns to the websites