Chapter 10: Digital Marketing and Social Networking – Flashcards
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Digital Media
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electronic media that function using codes- media available using computers, phones, smartphones, and other digital devices released in recent years
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Digital Marketing
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uses all digital media, including the internet and mobile channels, to develop communication and exchanges with customers.
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Electronic Marketing (e-marketing)
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the strategic process of distributing, promoting, and pricing products, and discovering the desires of customers using digital media and marketing
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Growth and Benefits of digital marketing
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-reach markets previously inaccessible -most important benefit is sharing info between marketers and customers through websites and networks -consumers can learn about everything the consume and use in life -changing the way marketers communicate and develop relationships -essential to maintain competitive advantage -feedback mechanisms include asking questions, complaining, preferences, other needs/desires
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Characteristics of Online Media: Addressability
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the ability of the marketer to identify customers before they make a purchase
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Interactivity
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the ability of customers to express their needs and wants directly to the firm in response to its marketing communications
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Accessibility
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the ability for marketers to obtain digital information
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Connectivity
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the ability for consumers to be connected with marketers along with other consumers
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Control
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the customer's ability to regulate the information they view as well as the rate and exposure to that information
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Consumer generated information appears more authentic than corporate messages, it can go far in increasing credibility
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1) the increased tendency of consumers to publish their own thoughts, opinions, reviews, and product discussions through blogs or media 2) Consumers' tendencies to trust other consumers over corporations. consumers often rely on the recommendations of friends, family, and fellow consumers when making purchases
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Social Network
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website where users can create profile and interact with other users, post info, and engage in conversations. consumer benefits-music download, apps, forums, games marketer benefits-promote products, answer questions/complaints, provide info majority of social network users 18-29 years old
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Blogs such as tumblr
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web-based journals in which writers can editorialize and interact with other internet users more than 3/4 internet users read blogs disadvantage-users bad comments advantage-answer concerns of build enthusiasm
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Wikis
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type of software that creates an interface that enables users to add or edit the content of some types of websites. For the most part, only info that is verifiable through another source is considered appropriate disadvantage-incorrect information
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Media-Sharing Sites others: virtual gaming sites, mobile devices, apps, widgets
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allow marketers to share photos, videos, and podcasts, but are more limited in scope in how companies interact with consumers Tend to be more promotional than reactive podcast-audio or video files that can be downloaded and can be automatically delivered to to listening devices
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The internet is a pull medium
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because users determine which websites they are going to view; the marketer has only limited ability to control the content to which users are exposed, and in what sequence.
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Online Consumer Behavior
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Digital media that do not adapt and change will fail Separate online community into seven segments consumers may belong to multiple segments simultaneously
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Creators
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conduit for addressing consumers directly/reach online consumers and reporters in mainstream media -publish a blog, personal webpage, upload original video/music, write and post articles or stories
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Conversationalists
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regularly update their feeds or statuses on social media. -less involved than creators -spend time at least once a week posting updates
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Critics Yelp is one of the most comprehensive review sites on businesses
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people who comment on blogs or post ratings and reviews -important to digital marketing because majority of online shoppers read ratings and reviews to aid purchasing decisions
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Collectors least recognized
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gather information and organize content generated by critics and creators -growing segment leads to social news sites -active members in online community can have significant impact
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Joiners
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anyone who becomes a member of Twitter, Facebook, etc. -it is not usual for consumers to be members of several networking sites at once. -participate to connect and network with other users
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Spectators Largest group in most countries
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The consumers who read what others produce but do nto create any content themselves.
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Inactives
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online users who do not participate in any digital online media -number is dwindling
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E-Marketing Strategy Consideration: Product Considerations
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digital media provide an opportunity to add service dimension to traditional products and create new products that could only be accessible online -online advertising campaigns and contests to help better develop products -Sell through social networking sites
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Distribution Considerations
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make products available at the right time, place and in the right quantities -electronic processing increases speed and reduces costs, inefficiencies, and redundancies -push/pull dynamic: supplier push the product to the consumer or the consumer pull products
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Promotion Considerations
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promote products through social media -boost firm's brand exposure and awareness -opened opportunities for B2B promotions -consumers are more informed
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Pricing Considerations
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relates to perception of value and is the most flexible element of the marketing mix. -digital connections can help customer find the price of the product available from various competitors -new access to price info benefits consumer but places pressure on seller to be competitive
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Ethical and Legal Issues
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Privacy-the use of personal info that companies collect -hackers steal info, lead to identity theft Online Fraud-any attempt to conduct dishonest acts online -deceiving users, cybercriminals Intellectual Property-the copyrighted or trademarked ideas and creative materials developed to solve problems, carry out applications, and educate and entertain others -pirating software, games, and music
