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Questions and Answers
What are the three phases of the value delivery process mentioned in Module 6?
What are the three phases of the value delivery process mentioned in Module 6?
Which marketing approach involves segmentation, targeting, and positioning?
Which marketing approach involves segmentation, targeting, and positioning?
What is one way AI is described as a source of value creation in marketing?
What is one way AI is described as a source of value creation in marketing?
Which activity is considered a primary activity in the value chain?
Which activity is considered a primary activity in the value chain?
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In the context of strategy, what is the focus of the value chain?
In the context of strategy, what is the focus of the value chain?
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How are companies like Amazon and AR Financial Services Group using AI?
How are companies like Amazon and AR Financial Services Group using AI?
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Study Notes
- The text is about Module 6 of an NBDL online certification course on Artificial Intelligence (AI) in marketing.
- Module 6 focuses on customer value and AI's role in the value delivery process.
- Businesses aim to provide customer value at a profit, and the value delivery process includes three phases: choosing value, providing value, and communicating value.
- Strategic marketing involves choosing value through segmentation, targeting, and positioning, while tactical marketing provides and communicates value through the marketing mix.
- AI is becoming a major source of value creation and delivery in marketing due to its ability to optimize operations and offer personalized experiences.
- AI applications include AI-related services, computer vision, deep learning, Edge AI, intelligent applications, machine learning, robotics process automation, and virtual assistants.
- Companies like Amazon and AR Financial Services Group are using AI to create efficiencies in their operations and serve customers more effectively.
- Value proposition is the customer-facing element of strategy, while the value chain focuses internally on operations.
- A value chain includes primary activities like inbound logistics, operations, outbound logistics, marketing, and services, as well as secondary activities like procurement, technology development, human resource management, and infrastructure.
- AI can help companies make better decisions about purchasing materials, leading to improvements in production plans and overall value creation.
- McKinsey reports that over 30% of high-tech and telecom companies have implemented at least one AI technology, while only 15% of construction companies have pursued such advancements.
- AI is being used in various industries, with technology-centric industries leading the adoption, but there is potential for strong returns on investment in more traditional industries.
- Companies should focus on five elements of the emerging technology landscape: intelligence, data, expertise, architecture, and strategy, when investing in key digital technologies like AI.
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Description
Test your knowledge on customer value, AI's role in the value delivery process, strategic marketing, tactical marketing, and AI applications in marketing. Explore how companies like Amazon and AR Financial Services Group are using AI to create efficiencies and serve customers effectively.
