Podcast
Questions and Answers
What is a necessary condition before implementing marketing strategies?
What is a necessary condition before implementing marketing strategies?
- A fully developed eCommerce platform
- A high customer retention rate
- A large digital presence
- A sufficient pool of potential customers (correct)
Which option best describes ‘Owned Media’ in digital marketing?
Which option best describes ‘Owned Media’ in digital marketing?
- Platforms a business does not control
- Shared online platforms for marketing
- Any online channels used for advertising
- The digital assets directly controlled by the business (correct)
Which stage of digital presence is characterized by high cost of acquisition and retention?
Which stage of digital presence is characterized by high cost of acquisition and retention?
- Web Presence
- eCommerce
- Amateur / Testing Water
- Customer Retention (correct)
Which step is essential when setting up a new website?
Which step is essential when setting up a new website?
What should technical founders focus on when building their digital presence?
What should technical founders focus on when building their digital presence?
Which type of digital presence is best suited for testing concepts without significant investment?
Which type of digital presence is best suited for testing concepts without significant investment?
What is an example of a provider for domain name registration?
What is an example of a provider for domain name registration?
Which platform is described as a channel of marketing but not an owned media?
Which platform is described as a channel of marketing but not an owned media?
What is the primary purpose of personal computers like the Apple II and IBM PCs?
What is the primary purpose of personal computers like the Apple II and IBM PCs?
How have smartphones changed communication and information access?
How have smartphones changed communication and information access?
Which technology is primarily associated with detailed internal body imaging?
Which technology is primarily associated with detailed internal body imaging?
What is a significant benefit of renewable energy technologies?
What is a significant benefit of renewable energy technologies?
What has been the impact of artificial intelligence and machine learning across various industries?
What has been the impact of artificial intelligence and machine learning across various industries?
What is the primary function of 3D printing technology?
What is the primary function of 3D printing technology?
Which of the following describes the relationship between inventions and innovations?
Which of the following describes the relationship between inventions and innovations?
What is the primary function of a server in web hosting?
What is the primary function of a server in web hosting?
How did social media platforms change interaction among individuals?
How did social media platforms change interaction among individuals?
Which of the following best describes a Content Management System (CMS)?
Which of the following best describes a Content Management System (CMS)?
Which of the following tools is commonly used for eCommerce management?
Which of the following tools is commonly used for eCommerce management?
What is the role of a payment gateway in eCommerce?
What is the role of a payment gateway in eCommerce?
Which of the following metrics distinguishes between users and sessions in analytics?
Which of the following metrics distinguishes between users and sessions in analytics?
In the context of digital marketing, what is meant by user acquisition?
In the context of digital marketing, what is meant by user acquisition?
What is the significance of engagement rate in analytics?
What is the significance of engagement rate in analytics?
Which statement accurately reflects the philosophy of innovation in business?
Which statement accurately reflects the philosophy of innovation in business?
What is the primary focus of invention?
What is the primary focus of invention?
Which of the following best describes innovation?
Which of the following best describes innovation?
What skills are primarily associated with innovation?
What skills are primarily associated with innovation?
Which scenario best represents the process of invention?
Which scenario best represents the process of invention?
How are innovations primarily characterized?
How are innovations primarily characterized?
What is the difference between invention and innovation in terms of product development?
What is the difference between invention and innovation in terms of product development?
Which of the following is an example of an innovation?
Which of the following is an example of an innovation?
What does Peter Drucker imply about the function of marketing?
What does Peter Drucker imply about the function of marketing?
What does the profit model refer to in the context of innovation?
What does the profit model refer to in the context of innovation?
Which type of innovation focuses on the delivery method of offerings to customers?
Which type of innovation focuses on the delivery method of offerings to customers?
In the assignment process, what is the recommended size for a project team?
In the assignment process, what is the recommended size for a project team?
When finding a client for the project, which of the following is essential?
When finding a client for the project, which of the following is essential?
Which category of innovation involves superior methods for doing work?
Which category of innovation involves superior methods for doing work?
What is the role of owned media in marketing?
What is the role of owned media in marketing?
What is the main focus of customer engagement in the innovation framework?
What is the main focus of customer engagement in the innovation framework?
Which aspect of innovation relates to complementary products and services?
Which aspect of innovation relates to complementary products and services?
What is a primary factor to consider when selecting clients for marketing projects?
What is a primary factor to consider when selecting clients for marketing projects?
Which of the following is NOT a component of evaluating a marketing project?
Which of the following is NOT a component of evaluating a marketing project?
What should be avoided when trying to access client data for marketing projects?
What should be avoided when trying to access client data for marketing projects?
Which aspect should a marketing plan ensure is clear to be effective?
Which aspect should a marketing plan ensure is clear to be effective?
What is an important aspect of content in a marketing project?
What is an important aspect of content in a marketing project?
Which of the following criteria focuses heavily on the outcomes of the marketing plan?
Which of the following criteria focuses heavily on the outcomes of the marketing plan?
For effective marketing, what should the selection of channels accomplish?
For effective marketing, what should the selection of channels accomplish?
What insight should a marketing project provide to be deemed successful?
What insight should a marketing project provide to be deemed successful?
Flashcards
Sufficient Customer Pool for Marketing
Sufficient Customer Pool for Marketing
Effective marketing requires a significant number of potential customers. Small customer bases might not warrant marketing efforts.
Owned Media
Owned Media
Your online presence (website, app, etc.), where conversions happen.
Digital Presence
Digital Presence
Your website, app, or social media channels that represent your business online.
Web Presence Levels
Web Presence Levels
Different stages of website and app development, from basic to mature (testing, ready, customer retention).
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Domain Name Registration
Domain Name Registration
Securing a unique web address (e.g., www.mysite.com) for your online presence.
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Direct Customer Approach
Direct Customer Approach
Reaching potential customers directly, bypassing traditional marketing strategies, when customer groups are limited.
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Website Maturity Stages
Website Maturity Stages
Categories for website development: Amateur, Ready, Customer Retention, based on maturity/features offered.
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Technical Differentiation
Technical Differentiation
Focus on superior technology (app and/or web backend) as a means of differentiating your web presence from other offerings
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Server Hosting
Server Hosting
The hardware that stores website files and serves them to internet users.
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Content Management System (CMS)
Content Management System (CMS)
Software for creating, managing, and changing website content without coding.
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eCommerce Management System
eCommerce Management System
Software for managing online sales, including listings, shopping carts, and order processing.
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Payment Gateway
Payment Gateway
A system that processes online payments.
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User Acquisition
User Acquisition
Finding new users for a product/service.
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Traffic Acquisition
Traffic Acquisition
Driving more visitors to a website.
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Digital Marketer
Digital Marketer
Someone responsible for promoting a product/service online.
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Innovation
Innovation
Implementation of new ideas, products, processes, or methods that create significant improvements or value, often building on existing concepts.
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Invention
Invention
Creation of entirely new devices, processes, or methods that did not previously exist and represent a new technology or concept.
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Innovation vs. Invention
Innovation vs. Invention
Innovation builds on existing ideas to improve them, while invention creates something entirely new.
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Internet Innovation
Internet Innovation
Example of innovation that revolutionized global communication and information sharing.
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Core Difference (Innovation)
Core Difference (Innovation)
An improvement, new implementation, a "better" way.
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Core Difference (Invention)
Core Difference (Invention)
A completely new concept, a first, something never before seen.
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Innovation Skills
Innovation Skills
Combination of marketing, technical, and strategic skills needed for implementation.
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Invention Skills
Invention Skills
Typically focused on scientific skills.
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Personal Computers
Personal Computers
Devices like the Apple II and IBM PCs that transformed how individuals work and access information.
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Mobile Phones/Smartphones
Mobile Phones/Smartphones
Devices making communication and information portable and ubiquitous.
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GPS
GPS
Technology for global positioning and navigation, transforming location-based services.
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3D Printing
3D Printing
Devices creating three-dimensional objects from digital models, enabling rapid prototyping and customized manufacturing.
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Artificial Intelligence
Artificial Intelligence
Revolutionizing various industries with intelligent systems.
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DNA Sequencing
DNA Sequencing
Methods to quickly and accurately determine DNA sequences, advancing genetic research and personalized medicine.
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Renewable Energy Technologies
Renewable Energy Technologies
Shifting the energy landscape towards sustainability.
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Social Media Platforms
Social Media Platforms
Platforms like Facebook and Twitter, changing how people connect, communicate, and consume information.
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Innovation Categories
Innovation Categories
Different types of innovation that focus on various aspects of a business, such as profit models, networks, or customer engagement.
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Profit Model Innovation
Profit Model Innovation
Innovations that change how a company makes money, such as introducing new pricing strategies or subscription models.
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Network Innovation
Network Innovation
Creating new connections or alliances to expand business reach and value creation. Think collaborations, partnerships, or supply chain improvements.
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Marketing Message
Marketing Message
A concise and compelling statement that captures the essence of your product or service's value for the target audience.
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Google Analytics
Google Analytics
A powerful tool that tracks website traffic and user behavior, providing insights into website performance.
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Project Team Formation
Project Team Formation
Assembling a group of students (ideally from the same tutorial) to work on a marketing project as a digital marketing agency.
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Find a Client for Project
Find a Client for Project
Identifying a company or creating a project that requires digital marketing support. The client must be able to provide timely feedback and possibly seed money.
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Project Duration
Project Duration
The timeframe allotted for completing a marketing project. It influences the selection of clients and marketing strategies.
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Client Selection
Client Selection
Choosing the right companies or departments to work with, considering factors like project scope, data access requirements, and company size.
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Value Proposition
Value Proposition
The unique benefit or advantage that your product or service offers to customers. It's your selling point.
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Marketing Goals
Marketing Goals
Specific, measurable, achievable, relevant, and time-bound objectives that you aim to achieve through marketing efforts.
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Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs)
Measurable metrics used to track the success of marketing campaigns. Examples include website traffic, engagement rates, leads, and sales.
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Marketing Channels
Marketing Channels
The different platforms and methods used to reach your target audience, like search engine marketing (SEM), social media, and display advertising.
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Owned, Paid, and Earned Media
Owned, Paid, and Earned Media
Different types of media used in marketing. Owned (your website/app), Paid (ads), and Earned (mentions, reviews).
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Data Analysis in Marketing
Data Analysis in Marketing
Collecting, analyzing, and interpreting data from marketing campaigns to understand performance and make improvements.
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Marketing & Innovation (1) - IS3150
- Course offered AY 24/25, Sem 1
- Instructor: Lai Kok Fung (Adj)
What is Marketing?
- Image shows people collaborating, brainstorming, with sticky notes and markers on a table.
- Keywords/Concepts: plan, ideas, deadline, collaboration, logo, layout, imagination, passion, graphics, vector, font, color palette, ingenuity, time management, negative, positive, client needs, investment, concise.
- Image shows hands of people around a table, with a table-top diagram full of words.
- Marketing is a concept that combines a lot of elements, including ingenuity, passion, and strategy.
Sales Funnel Examples
- Shows a sales funnel
- Stages: Discovery, Interest, Appraisal, Confirmation, Conversion
- Online location/KPIs are listed for each stage
- Examples: Google Search Results, Web Ads, Social Ads, New unique visitors, Ad clicks, Search Rankings, Blog Articles, Landing Pages, Review Pages, Competitors' Websites, Page views, Time on site, Backlinks, 3rd party rankings, Case Studies, Landing Pages, Conversions, Repeat visitors, returning clicks, conversions, Contact Page, products/services, checkout page
- Further stages from Conversion: Awareness, Interest, Consideration, Evaluation, Decision, Purchase, Repeat, Loyalty, Advocacy are shown.
Target Customers
- Diagram of marketing funnel-related technologies including Google Display, Google SEO, Social Reach, Public Relation, Influencer, Content Marketing, Follow & Engage, Retargeting, Google SEM, Livestreaming, Retargeting, Affiliates
- Marketing tasks are listed, e.g., Bring cows to water with lowest cost, making the journey smooth, convincing cows to drink water.
- If cows don't drink: Right cows? Right water? Barriers?
Marketing vs Sales
- Marketing encompasses activities that spark interest in the business.
- Marketers use research and analysis to understand customer interests.
- Marketing is responsible for campaigns attracting people to the business, product, or service.
- Sales leads to the selling of goods and manages relationships with potential clients, providing solutions for prospects that need products.
Digital Marketing: Conversion Happens at "Owned Media"
- Diagram depicts the marketing funnel and the target customers
- Key technologies: Google Display, Google SEO, Social, Public Relation, Influencer, Content Marketing, Follow & Engage, Retarget, Google SEM, Livestreaming,Retarget, Affiliate
- Marketing tasks are listed, including bringing cows to water efficiently, making the journey smooth, and convincing the cows. If cows don't drink: Right cows? Right water? Barriers?
Owned Media
- Your Digital Presence - digital presence of an organization is referred to here
- This section details different levels of digital presence: amateur/testing, ready, and customer retention
Types of Digital Presence
- Levels of maturity for Web Presence: amateur/testing, ready, and customer retention
- The different types of digital presence are: Web presence, eCommerce, Social Media
Setting up a new Web Site
- Steps for creating a webpage, e.g., registering a domain name, hosting a server, managing content with a system (CMS), handling eCommerce, and integrating a payment gateway
- Examples of providers for each step
Without Analytics
- Fighting Blindfolded - An analogy/concept highlighting the necessity of analytics
- The need of analytics for fighting/decision-making
Google Analytics
- Understand "cows" behavior
- Google Analytics reports snapshot: real-time, life cycle, acquisition, engagement, monetization, retention
- Google Analytics reports snapshot
- Data analysis, including acquisition overview (users and new users data)
GA4 Demo Account
- Google Analytics 4 (GA4) Demo account: Real time, Acquisition, Overview
- Topics: User acquisition vs Traffic acquisition, Session primary channel group, Users vs Sessions, Engaged Sessions, Engagement Rate
First Tasks of a Digital Marketer
- Key tasks of a digital marketer
- Questions: What is your digital presence? Do you know how to build or modify it? Is Google Analytics installed? Can you access it?
Project
- Putting theories learned in class into practice
Task 1: Form Project Team
- Forming project teams consisting of 4 members
- Contacting TA with team member names by a certain date
- Pooling S$100 seed money for ads
Task 2: Find a Client
- Acting as a digital marketing agency
- Finding clients (suitable company or make your own)
2023 Projects
- Projects and examples, with different companies (like food delivery, braces, etc.)
2022 Projects
- Projects, with different companies (e.g. bike retailer)
Project Evaluation Criteria
- Criteria for evaluating projects based on clarity of message, channels, execution, insights, and contribution
Form Project Team
- Contacting the TA about names of team members with a deadline
Questions?
- Open question for clarifications and questions from the audience.
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