BNAD 303 Chapter 10

Modern marketing 2010

tv, radio, outdoor, newspaper, direct mail, web, PPC, SEO, email, webinar, podcast, social

Mobile Device (mcommerce)

Over 80% of Americans have a mobile device 65% start their first search on their mobile device -Mobile marketing has proven effective in grabbing consumers' attention -Marketers have spent $15.8 Billion on mobile ad spending -Applications (apps) have become the most popular mobile tools -Cost savings apps are the most popular Shop Savvy, Gas Buddy, Price Chopper, Groupon

Ethical and Legal Issues of marketers

Personal privacy Fraud Misappropriation of copyrighted property

Digital media have created opportunities for companies to

target specific markets.

Content ads

ads determined by content of webpage

Mobile Reality Gaming app Pokemon Go Phenomenon

-21,000,000 users on any given day in 2016 -23 Billion dollar increase in Nintendo stock price -Surpassed app giants such as Facebook and Twitter

Applications

-Bring convenience and cost savings to the consumer -Fitness apps tied to fitness bands -Location based networks-Foursquare Swarm -Companies are using mobile marketing to offer consumers additional incentives - QR codes

Growth and benefits of digital marketing

-E-marketing allows marketers and customers to share information -It is now possible to target markets more precisely and reach markets previously inaccessible -The digital world is evolving quickly and is still in an early stage of integration into marketing strategy

Widgets

-Small bits of software on a website, desktop or mobile device -An innovative digital marketing tool to personalize webpages, alert users to company information and spread product awareness

Permission marketing (attention being earned)

-consumers consent to being marketed to (opting into email newsletter, instagram, twitter, text alerts) -important element of SMM. Allows for small companies to compete with larger companies (Dollar Shave Club vs Gillette)

Characteristics of Online Media

1. Addressability- Ability of the marketer to identify customers before purchase. 2. Interactivity- ability of customers to express their needs and wants directly to the firm 3. Accessibility- ability for marketers to obtain digital info 4. Connectivity- consumers to be connected with marketers along with other consumers 5. Control- customers ability to regulate the info they view as well as the rate and exposure to that info.

Which of the following characteristics distinguish online media from traditional marketing?

Addressability, interactivity, accessibility, connectivity, and control

Media sharing sites

Allow marketers to share photos, videos and podcasts but with less interaction -Photo sharing allows companies to market themselves with snapshots of company events -Flickr, Pinterest, Instagram -Video sharing allows companies to upload ads and informational videos and are now using consumer-generated videos - YouTube, Metacapte.com, Hulu -Dove has 33 YouTube Channels in 25 languages

Privacy

Companies collect personal information from website visitors in their efforts to foster long-term relationships with customers Hackers may break into websites and steal personal information enabling them to commit identity theft

___________ uses the Internet, mobile, and interactive channels to develop communication and exchanges with customers.

Digital marketing

Digital marketing

Electronic Marketing (e-marketing) The strategic process of distributing, promoting and pricing products and discovering the desires of customers using digital media and digital marketing

Social Media Marketing (SMM)

Marketers are using these sites to: -Promote products -Handle questions and complaints -Provide information to assist customers in buying decisions

_______ includes any attempt to intentionally conduct dishonest activities online.

Online fraud

Challenges with Social Media

The right person to get, the right content at the right place, at the right time, in the right format, in the right language, on the right device

social media bot

a profile on a social media platform that is automatically programmed to generate messages, follow accounts, reply to or share particular hashtags, usually using Machine Learning.

wiki

a type of software that creates an interface enabling users to add or edit content of some types of websites Wikiipedia-Top 10 most popular sites on the web

Paid search

advertisers pay only when a customer clicks on ad or the link from search engine page

Podcast

are audio or video files that can be downloaded with a subscription that automatically delivers new content to listening devices or personal computers; offers convenience allowing users to listen when and where they choose

Blogs (short for "weblogs")

are web-based journals in which writers can editorialize and interact with other Internet users (Tumblr) (Blendtec) -Blogs can represent a potent threat to corporations or an opportunity due to the amount of consumer control -Companies can use external blogs to answer consumer concerns or defend their corporate reputations and internal blogs to build enthusiasm and create relationships

Consumers who act as ____ are becoming increasingly important to online marketers as a conduit for addressing consumers directly.

creators

Verizon encourages customers to post reviews on its company website or Facebook page in the hopes of increasing the company's

credibility.

Interruption marketing (traditional)

firms purchase the right to interrupt people and demand their attention (commercials, pop-up, billboards, magazine ads)

Electronic marketing e-marketing

strategic process of distributing, promoting, and pricing products ad discovering customer desires

Digital media

electronic media that functions using digital codes; media available through computers, cell phones, smartphones, and other digital devices

Frameworks for online media

engage customers through: excite, educate, experience

Walgreen's has set up a website that enables customers to converse with the company and communicate their needs and wants. This is an example of a(n) ____ website.

interactive

Due to increasing consumer demand, many television networks are creating ____ of their shows.

podcasts

IHOP is active on Facebook, Twitter, and YouTube in order to communicate with its customers, conduct a video contest, and generally find out the customers' likes and dislikes. IHOP in this example, is engaging in ________ marketing.

relationship

Virtual Sites

sites include Second Life, Everquest, Sim City and World of Warcraft -These are user-created, three-dimensional worlds with their own economies, currencies, lands and residents -Allows businesses to reach consumers in a creative, fun way -Some firms are using virtual technology for recruiting purposes

Categories of social media marketing

social networking sites, thought sharing sites, media sharing sites

One trend that has caused consumer-generated information to gain importance is

the increase of consumers using digital media to publicize their own product reviews.

Behavioral targeting

tracking customers online behavior

Traditional marketing 1950 - 1994

tv, radio, outdoor, newspaper, direct mail

Traditional marketing and web 1994 - 2004

tv, radio, outdoor, newspaper, direct mail, web

Wed-centric marketing 2005 - 2009

tv, radio, outdoor, newspaper, direct mail, web, PPC, SEO, email

Social network

web-based meeting for friends, family, coworkers, and peers allowing users to create profile (google+ facebook youtube)