Podcast
Questions and Answers
What is the primary way to manage the customer relationship experience?
What is the primary way to manage the customer relationship experience?
- Spreading helpful information through digital word-of-mouth
- Conducting competitor analysis
- Collecting digital assets
- Conscious efforts to manage the customer relationship experience (correct)
What is digital word-of-mouth (WOM) marketing?
What is digital word-of-mouth (WOM) marketing?
- Building a social following on digital platforms
- Online advertising through social media
- Online dialogue with others about their relationship with an organization (correct)
- Digital marketing strategy that analyses competitors
What are digital assets?
What are digital assets?
- Only digital items that are valuable to consumers
- Digital marketing strategies and tactics
- All digital items of value that an organization owns, including content, data, websites, and accounts (correct)
- Only digital items that are valuable to the organization
How long does it take to create digital assets?
How long does it take to create digital assets?
What is a critical component of digital marketing strategy?
What is a critical component of digital marketing strategy?
What is the purpose of building digital assets?
What is the purpose of building digital assets?
What is the 7A's of Digital Marketing strategy?
What is the 7A's of Digital Marketing strategy?
What is the primary goal of digital marketing?
What is the primary goal of digital marketing?
What is the benefit of digital word-of-mouth marketing?
What is the benefit of digital word-of-mouth marketing?
Why is it important to understand the competitive landscape in digital marketing?
Why is it important to understand the competitive landscape in digital marketing?
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Study Notes
Digital Marketing Strategy
- Creating a strategic digital marketing plan involves defining digital marketing strategies and establishing digital marketing goals
- It involves identifying a target market, creating a marketing mix, and planning to build a sustainable competitive advantage
- Digital marketing strategy should be distinguished from digital marketing tactics, which are specific digital marketing activities to achieve the overall strategy
Digital Marketing Planning Process
- The strategic digital marketing planning process is a procedure to plan and document strategic direction for digital marketing activities
- It involves three stages: understanding the market, developing marketing strategies, and implementing and controlling marketing efforts
Basic Digital Marketing Strategies and Tactics
- Digital marketing pricing strategies include:
- Subscription-based pricing: customers pay a flat fee each subscription period
- Flat-fee pricing: customers pay an agreed-upon, unvarying fee for a level of service
- Bundled pricing: offering products or services at a lower price when bundled together
- Freemium pricing: offering a basic service at no charge and charging for added services or a premium service level
Digital Marketing Place Strategies
- Digital marketing place strategies start with decisions about the digital marketing channel
- Strategies include:
- Omni-channel strategy: offering products or services across various channels, including digital and physical retail outlets
- Disintermediation strategy: removing or not including intermediaries and reaching consumers directly
Digital Assets and Competitive Analysis
- Digital assets include content, data, websites, and accounts that have value for the organization and consumers
- Understanding the competitive landscape is crucial, including analyzing competitors' digital marketing strategies using the 4P's and 7A's frameworks
- The 7A's of digital marketing involve analyzing a competitor's awareness, availability, affiliation, action, appliance, agency, and activities
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