Podcast
Questions and Answers
What is a key implication of shifting to a D2C model for automotive companies' digital marketing?
What is a key implication of shifting to a D2C model for automotive companies' digital marketing?
- Higher investment in interactive digital strategies (correct)
- Increased focus on face-to-face customer interactions
- Enhanced physical showroom experiences
- Reduced reliance on traditional advertising channels
Which of the following is an advantage of customer data ownership in a D2C model?
Which of the following is an advantage of customer data ownership in a D2C model?
- Increased pricing volatility
- Decreased brand loyalty
- Improved customer relationship management (correct)
- Lack of customer feedback
What does hyper-personalization in digital marketing aim to achieve?
What does hyper-personalization in digital marketing aim to achieve?
- Generic advertising approaches
- Uniform messaging across all customer segments
- Customization of marketing efforts to individual consumer preferences (correct)
- Standardized product pricing
Why is pricing consistency important for automotive companies adopting a D2C model?
Why is pricing consistency important for automotive companies adopting a D2C model?
Global/localized campaigns in D2C marketing primarily focus on which aspect?
Global/localized campaigns in D2C marketing primarily focus on which aspect?
Which of the following statements correctly defines e-commerce?
Which of the following statements correctly defines e-commerce?
What is the main characteristic of social commerce?
What is the main characteristic of social commerce?
Influencer marketing primarily involves what kind of strategy?
Influencer marketing primarily involves what kind of strategy?
Which of the following best describes search engine optimization (SEO)?
Which of the following best describes search engine optimization (SEO)?
What does pay-per-click (PPC) marketing involve?
What does pay-per-click (PPC) marketing involve?
Which of the following is a key aspect of content marketing?
Which of the following is a key aspect of content marketing?
What is the primary purpose of affiliate marketing?
What is the primary purpose of affiliate marketing?
Paid media is best described as what?
Paid media is best described as what?
What defines owned media?
What defines owned media?
What is an example of earned media?
What is an example of earned media?
What is the average attention span of a Gen Z consumer?
What is the average attention span of a Gen Z consumer?
What is the estimated portion of global advertising spend that will go to digital in 2024?
What is the estimated portion of global advertising spend that will go to digital in 2024?
Which of the following methods is NOT typically considered paid promotion?
Which of the following methods is NOT typically considered paid promotion?
What is the range of logos/ads that consumers are exposed to per day in the US?
What is the range of logos/ads that consumers are exposed to per day in the US?
Which of the following is a strategy to drive earned media exposure?
Which of the following is a strategy to drive earned media exposure?
Which of these media types is most effectively controlled by companies to enhance marketing strategies?
Which of these media types is most effectively controlled by companies to enhance marketing strategies?
What is the primary focus of digital marketing?
What is the primary focus of digital marketing?
Which aspect of marketing aims to understand customer behavior and needs?
Which aspect of marketing aims to understand customer behavior and needs?
Which module in the course outline deals with sustainable and ethical marketing?
Which module in the course outline deals with sustainable and ethical marketing?
What is the aim of incorporating AI and emerging technologies in marketing as highlighted in the course?
What is the aim of incorporating AI and emerging technologies in marketing as highlighted in the course?
Which of the following is NOT a focus area of strategic marketing outlined in the course?
Which of the following is NOT a focus area of strategic marketing outlined in the course?
What is a critical element in achieving competitive advantage in marketing?
What is a critical element in achieving competitive advantage in marketing?
Which module addresses the basics of marketing strategy?
Which module addresses the basics of marketing strategy?
What does customer intelligence rely on in modern marketing practices?
What does customer intelligence rely on in modern marketing practices?
Which concept is integral to building brand identity and trust?
Which concept is integral to building brand identity and trust?
Which of the following best describes agile marketing?
Which of the following best describes agile marketing?
Which module focuses on the evolution and trends of digital and social media marketing?
Which module focuses on the evolution and trends of digital and social media marketing?
What is a primary goal of responsible marketing?
What is a primary goal of responsible marketing?
Customer-centric marketing emphasizes which aspect?
Customer-centric marketing emphasizes which aspect?
Which of the following is part of strategic marketing framework?
Which of the following is part of strategic marketing framework?
What percentage of companies report that email marketing is the most effective channel?
What percentage of companies report that email marketing is the most effective channel?
Which marketing approach combines both traditional and digital channels throughout the customer journey?
Which marketing approach combines both traditional and digital channels throughout the customer journey?
What is one of the key benefits of digital marketing as mentioned?
What is one of the key benefits of digital marketing as mentioned?
What is a challenge of digital marketing related to regulation?
What is a challenge of digital marketing related to regulation?
What does the quote by John Wanamaker highlight about advertising spending?
What does the quote by John Wanamaker highlight about advertising spending?
Which of the following is NOT a milestone in the evolution of digital marketing?
Which of the following is NOT a milestone in the evolution of digital marketing?
What marketing trend is associated with authenticity and trust?
What marketing trend is associated with authenticity and trust?
What estimated value is associated with the Creator Economy in 2023?
What estimated value is associated with the Creator Economy in 2023?
Which of the following is a format mentioned that is evolving in digital marketing?
Which of the following is a format mentioned that is evolving in digital marketing?
Which marketing model emphasizes selling directly to the consumer?
Which marketing model emphasizes selling directly to the consumer?
What implication arises for automotive companies when shifting to a D2C model?
What implication arises for automotive companies when shifting to a D2C model?
Which tactics are included under digital marketing strategies?
Which tactics are included under digital marketing strategies?
What is a crucial aspect needed for achieving seamless customer experience across all marketing channels?
What is a crucial aspect needed for achieving seamless customer experience across all marketing channels?
What aspect does NOT contribute to the cost-effective nature of digital marketing?
What aspect does NOT contribute to the cost-effective nature of digital marketing?
Flashcards
Digital Marketing
Digital Marketing
Digital marketing is the use of digital media, data, and technology to achieve marketing goals, often integrated with traditional marketing methods.
Social Media Marketing
Social Media Marketing
Social media marketing involves the use of social media platforms to achieve marketing objectives, building brand awareness, engaging with customers, and driving sales.
Digital Marketing Strategy
Digital Marketing Strategy
The process of strategically planning and executing digital marketing efforts to achieve specific business objectives.
Customer-Centric Marketing
Customer-Centric Marketing
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Customer Intelligence
Customer Intelligence
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AI in Marketing
AI in Marketing
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Generative AI
Generative AI
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Marketing Research
Marketing Research
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Content Marketing
Content Marketing
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Search Engine Optimization (SEO)
Search Engine Optimization (SEO)
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Paid Advertising
Paid Advertising
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Trust-Based Marketing
Trust-Based Marketing
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Purpose-Driven Marketing
Purpose-Driven Marketing
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Sustainable and Ethical Marketing
Sustainable and Ethical Marketing
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Agile Marketing
Agile Marketing
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What is Digital Media?
What is Digital Media?
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What is E-commerce?
What is E-commerce?
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What is Social Commerce?
What is Social Commerce?
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What is Content Marketing?
What is Content Marketing?
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What is Social Media Marketing?
What is Social Media Marketing?
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What is Influencer Marketing?
What is Influencer Marketing?
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What is Affiliate Marketing?
What is Affiliate Marketing?
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What is Search Engine Optimization (SEO)?
What is Search Engine Optimization (SEO)?
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Owned Media
Owned Media
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Earned Media
Earned Media
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Paid Promotion
Paid Promotion
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SEO
SEO
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PPC
PPC
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Propel Sharing & Engagement
Propel Sharing & Engagement
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Endorsements
Endorsements
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Relevant Brand Content
Relevant Brand Content
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What are the digital marketing implications for automotive companies shifting to D2C?
What are the digital marketing implications for automotive companies shifting to D2C?
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How does a D2C model impact customer data ownership?
How does a D2C model impact customer data ownership?
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What is the benefit of a D2C model for brand consistency?
What is the benefit of a D2C model for brand consistency?
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How does a D2C model enable hyper-personalization?
How does a D2C model enable hyper-personalization?
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How does a D2C model affect pricing consistency?
How does a D2C model affect pricing consistency?
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Omnichannel Marketing
Omnichannel Marketing
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Data-driven Marketing
Data-driven Marketing
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Strategic Partnerships
Strategic Partnerships
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Influencer Marketing
Influencer Marketing
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Short-form Video Marketing
Short-form Video Marketing
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Direct-to-Consumer (D2C) Business Model
Direct-to-Consumer (D2C) Business Model
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Voice Marketing
Voice Marketing
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Meme Marketing
Meme Marketing
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Evolution of Digital Marketing
Evolution of Digital Marketing
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Challenges of Digital Marketing
Challenges of Digital Marketing
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Benefits of Digital Marketing
Benefits of Digital Marketing
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Study Notes
Strategic Marketing - Module 6
- Course outline for module 6 covers Marketing's journey, Strategic marketing, Customer centricity, Research & Insights, Market & Competition, Digital & social, Emerging technology, Brand & Purpose, Responsible Marketing, Agile Marketing. Note: The order of modules 5 to 9 has been slightly changed for alignment with guest speakers' presentations.
Digital & Social Media Marketing Evolution and Trends
- Digital marketing is applying digital media, data, and technology integrated with traditional communication to achieve marketing goals.
- Digital media include content, interactive services delivered via internet, web, mobile, TV, and digital signage.
- E-commerce involves all electronic financial and informational exchanges between an organization and its external stakeholders.
- Social commerce is a subset of e-commerce focusing on customer interaction and participation in rating, selecting, and buying products via group buying.
- Content marketing creates valuable, informative, and engaging digital media content to attract and retain audiences.
A Few Key Definitions
- Social Media Marketing uses social media platforms where users build networks and share information to meet marketing goals.
- Influencer Marketing involves endorsements from alleged experts or influencers in a particular field, with affiliate marketing as a form where companies compensate a third-party publisher to generate traffic or leads for their products/services.
- Search engine optimization (SEO) aims to improve the quality or quantity of unpaid website traffic by improving a website's position or a web page on search engine results pages.
- Pay-per-click (PPC) are online marketing methods where advertisers pay for every time a user clicks on their ad.
Three Intersecting Key Online/Digital Media Types
- Paid media involves direct payments to site owners or ad networks for ad services, sponsorships, or per click/lead/sale.
- Owned Media includes online media controlled by a company including websites, blogs, email lists, and social media presence.
- Earned Media reaches an audience through editorial comments and sharing without any company payment, like a positive customer review.
Poll - Facts about Digital Marketing
- Consumers are exposed to 4,000-10,000 logos/ads per day.
- Average attention span of a consumer is 8 seconds.
- Gen Z consumer attention span is 1.3 seconds.
- About 70% of global ad spend is digital in 2024 (estimate).
- Email marketing (50%), Social Media (33%), Content Marketing (26%), Digital Advertising (18%), and Partnerships (16%) are the most impactful channels for B2B marketing.
Integrating Traditional and Digital Marketing
- Companies combine traditional and digital marketing channels along customer journey touchpoints into omnichannel marketing.
- Digital marketing is not meant to replace traditional marketing but coexist with interchanging roles across the customer journey.
Zoom into: Influencer Marketing
- Influencer marketing evolved from celebrity endorsements to micro and nano-influencers.
- Influencer partnerships are based on authenticity, trust, and long-term relationships.
- The creator economy is expected to reach $250 billion in 2023.
Zoom into: Evolving Formats
- Short-form video formats, voice marketing/Voice SEO, and meme marketing are evolving digital marketing formats.
Zoom into: D2C Business Model
- Direct-to-consumer (D2C) sales are increasing among consumer goods companies.
- Companies relying on this model must heavily utilize digital marketing and e-commerce to succeed.
Case – Recent Experimentation of Incumbent Automotive Firms with Direct-to-Consumer Sales Models
- Incumbent automotive firms are experimenting with direct-to-consumer models, potentially impacting their digital strategies.
Case: When Shifting to a D2C Model What Implications for Automotive Companies' Digital Marketing?
- Digital marketing is fundamental for brand presence, customer acquisition, and retention, with automotive firms increasingly investing in data-driven and interactive digital strategies.
- Key implications for digital marketing when shifting to a D2C model include better brand consistency, customer data ownership/CRM, hyper-personalization/targeting, pricing consistency, and global/localized campaigning.
Course Outline (Continued)
- This module also covers the evolution of digital marketing. There are important milestones that include e-mail marketing, database marketing, e-commerce, and social media and mobile, the growing importance of content marketing, and data-led omni-channel, video, influencer marketing.
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Description
Test your knowledge on the key concepts covered in Module 6 of Strategic Marketing. This quiz will explore topics such as customer centricity, digital marketing trends, and agile marketing strategies. Prepare to dive into the evolution of digital and social media marketing within the context of strategic marketing principles.