Introduction to Digital Marketing and Techniques

Introduction to Digital Marketing

• Digital marketing combines digital technologies and marketing.
• Defining digital marketing is a key outcome.
• The benefits of digital marketing compared to traditional marketing are crucial.
• Understanding the challenges and opportunities of digital marketing for consumers, businesses, marketers, and society is essential.
• Distinguishing between E-business and E-marketing is important.

The Scarcity Principle

• Higher demand for items, services, or goods creates scarcity.
• The need to gather for the future contributes to scarcity.
• A sense of urgency encourages purchases.
• Scarcity leads to perceived value and actions.
• Scarcity tactics include limiting numbers and time-limited offers.

The Exclusivity Technique

• A select group of customers receives special deals.
• Exclusivity makes eligible customers feel special.
• Enhanced customer-business relationships and increased brand loyalty follow
• This technique is a marketing strategy.

Image/Personality of Coach's Products

• Coach's products are durable and functional with high-quality leather.
• The average life of a handbag is 15 years, but proper care can extend it to 40 years.
• Offering lifetime service for repairs and replacement enhances the brand image.
• A "country-club" image is established, supporting high-end positioning.

What is Marketing?

• Marketing is the activity of creating, delivering, and exchanging offerings that benefit organizations, stakeholders, and society.

Value Creation

• Marketing creates, communicates, and delivers value.
• Understanding customer needs, time, money, and needs is crucial.
• Providing value recognized and appreciated by customers is necessary.
• Examples of value creation include luxury goods, where customers are willing to pay more for the experience and prestige.

Stakeholders

• Organizations must balance competing interests of customers, suppliers, employees, and shareholders.
• A variety of other people, groups, and forces interact with marketing.

Factors Influencing Marketing Activities

• Society and other organizations, alliances, research, and development.
• Human resources, ownership, shareholders, manufacturing, management.
• Information systems, relationships, suppliers, finance, and marketing.
• Environmental forces (social, economic, technological).
• Competition, and regulatory forces.

Requirements for Marketing to Occur

• Parties with unsatisfied needs are necessary.
• A desire and ability to satisfy those needs are essential.
• Ways for parties to communicate are required.
• Something to exchange is essential.

Identify Consumer's Needs

• Discovering consumer needs is a primary marketing objective.
• Consumers might not always articulate their needs.
• Effective marketing research is essential to identify unmet needs.
• Identifying the gap in the market is crucial.

Every Organisation's Challenge

• Meeting consumer needs with new products is a significant challenge.
• Approximately 94% of new consumables fail within the first few years.
• Key principles for new product launches include focusing on consumer benefit and learning from past successes.

Consumer Needs vs Wants

• Needs are physiological requirements like food, water, and shelter. (Refer to Maslow's hierarchy of needs)
• Wants are shaped by knowledge, culture, and personality.
• Effective marketing shapes consumer wants.

What is a Market?

• A market consists of potential consumers.
• Consumers must have both the desire and ability to purchase a product or service.
• Organisations focus on the needs of their target audience.
• Target groups are specific consumer subsets.
• Growing markets include Brazil, Russia, India, China, and South Africa.

Digital Marketing Defined

• Digital Marketing is the combination of digital technology and marketing.
• Digital marketing uses digital technologies to reach consumers online and convert leads to customers.
• A targeted, measurable, and interactive marketing approach is used.

Marketing Change

• Power has shifted from sellers (businesses) to buyers (individual consumers).
• Consumers trust other consumers more than brands.
• Market and media fragmentation are common.
• Online connections and productivity are valued by consumers.
• Social commerce is increasingly used, as is social media marketing and sales.

Digital Marketing as Part of Marketing Strategy

• The shift in power from businesses (sellers) to individuals (buyers) requires businesses to rethink their strategies.
• Rethinking marketing is necessary to effectively reach customers.

Why Digital Marketing in Strategy?

• Companies need to expand their reach to more customers to grow their customer base.
• Digital marketing matures, reaching customers across different regions is easier.
• Print media declines, while digital marketing is more cost-effective.

Types of Digital Marketing Communication

• Categorizing digital content into Owned, Paid, and Earned Media.
• Understanding the roles of each content type is critical to effective digital marketing.

Owned Media

• Company-owned assets, like websites and social media accounts, are used.
• Companies can control their messaging and timing.

Paid Media

• Advertising for sponsored content, influencer marketing, and Pay-Per-Clicks.
• Businesses pay for visibility and reach.

Earned Media

• Third-party content that promotes the brand.
• Includes reviews, mentions, and press coverage.
• Increased brand awareness and loyalty from engagement.

Digital Marketing vs Traditional Marketing

• Digital marketing utilizes electronic media to create awareness and pull customers.
• Traditional marketing approaches promote through print, aiming to directly inform consumers. 

Why Companies Move to Digital Marketing

• The return on investment for digital marketing is higher in some cases.
• Meaningful connections can be built with customers through digital platforms.
• Digital campaigns aid tracking and measuring marketing efforts.
• The development of smartphones and accessibility has reshaped consumer media consumption.

Benefits of Digital Media

• Interactivity, intelligence, and customization.

Benefits of Digital Media (Integration)

• Integrated marketing communication happens in two ways: outbound (company to customer) and inbound (customer to company).
• The internet complements other communication channels.

Benefits of Digital Media (Independence of Location)

• Digital media increases companies' global reach.

E-Business vs E-Marketing

• E-business optimizes business activities via digital technology.
• E-commerce is digitally-enabled transactions among entities.
• E-marketing applies technology to traditional marketing.