Strategic Marketing - Module 6 Quiz
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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?

  • 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?

  • 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?

    <p>It builds trust and transparency with consumers</p> Signup and view all the answers

    Global/localized campaigns in D2C marketing primarily focus on which aspect?

    <p>Tailoring marketing messages to specific local markets</p> Signup and view all the answers

    Which of the following statements correctly defines e-commerce?

    <p>E-commerce encompasses all financial and informational exchanges mediated electronically.</p> Signup and view all the answers

    What is the main characteristic of social commerce?

    <p>It allows for collaborative product selection and buying through user participation.</p> Signup and view all the answers

    Influencer marketing primarily involves what kind of strategy?

    <p>Partnering with influencers for endorsements in their specific fields.</p> Signup and view all the answers

    Which of the following best describes search engine optimization (SEO)?

    <p>Enhancing the quality and quantity of unpaid traffic to a website.</p> Signup and view all the answers

    What does pay-per-click (PPC) marketing involve?

    <p>Paying advertisers each time a user clicks on their ads.</p> Signup and view all the answers

    Which of the following is a key aspect of content marketing?

    <p>Generating engaging content to attract and retain audiences.</p> Signup and view all the answers

    What is the primary purpose of affiliate marketing?

    <p>To compensate third-party publishers for driving traffic or leads.</p> Signup and view all the answers

    Paid media is best described as what?

    <p>Media requiring payment for ad placements or clicks.</p> Signup and view all the answers

    What defines owned media?

    <p>Media that a brand/organization controls, such as their website and social media</p> Signup and view all the answers

    What is an example of earned media?

    <p>A positive review left by a consumer online</p> Signup and view all the answers

    What is the average attention span of a Gen Z consumer?

    <p>1.3 seconds</p> Signup and view all the answers

    What is the estimated portion of global advertising spend that will go to digital in 2024?

    <p>70%</p> Signup and view all the answers

    Which of the following methods is NOT typically considered paid promotion?

    <p>Search Engine Optimization (SEO)</p> Signup and view all the answers

    What is the range of logos/ads that consumers are exposed to per day in the US?

    <p>4,000 - 10,000</p> Signup and view all the answers

    Which of the following is a strategy to drive earned media exposure?

    <p>Creating SEO-friendly content and relevant brand information</p> Signup and view all the answers

    Which of these media types is most effectively controlled by companies to enhance marketing strategies?

    <p>Owned media</p> Signup and view all the answers

    What is the primary focus of digital marketing?

    <p>Integrating digital media, data, and technology with traditional communications</p> Signup and view all the answers

    Which aspect of marketing aims to understand customer behavior and needs?

    <p>Customer centricity</p> Signup and view all the answers

    Which module in the course outline deals with sustainable and ethical marketing?

    <p>Responsible Marketing</p> Signup and view all the answers

    What is the aim of incorporating AI and emerging technologies in marketing as highlighted in the course?

    <p>To drive marketing reinvention</p> Signup and view all the answers

    Which of the following is NOT a focus area of strategic marketing outlined in the course?

    <p>Digital-only marketing strategies</p> Signup and view all the answers

    What is a critical element in achieving competitive advantage in marketing?

    <p>Standing out and innovating</p> Signup and view all the answers

    Which module addresses the basics of marketing strategy?

    <p>Strategic Marketing</p> Signup and view all the answers

    What does customer intelligence rely on in modern marketing practices?

    <p>Data/AI and human insights</p> Signup and view all the answers

    Which concept is integral to building brand identity and trust?

    <p>Purpose-driven marketing</p> Signup and view all the answers

    Which of the following best describes agile marketing?

    <p>Marketing that adapts quickly to changes</p> Signup and view all the answers

    Which module focuses on the evolution and trends of digital and social media marketing?

    <p>Digital &amp; Social Media Marketing</p> Signup and view all the answers

    What is a primary goal of responsible marketing?

    <p>Prioritizing ethical considerations</p> Signup and view all the answers

    Customer-centric marketing emphasizes which aspect?

    <p>Understanding and fulfilling customer needs</p> Signup and view all the answers

    Which of the following is part of strategic marketing framework?

    <p>Data-driven decision making</p> Signup and view all the answers

    What percentage of companies report that email marketing is the most effective channel?

    <p>50%</p> Signup and view all the answers

    Which marketing approach combines both traditional and digital channels throughout the customer journey?

    <p>Omnichannel marketing</p> Signup and view all the answers

    What is one of the key benefits of digital marketing as mentioned?

    <p>Cost-effectiveness</p> Signup and view all the answers

    What is a challenge of digital marketing related to regulation?

    <p>Data privacy and regulations</p> Signup and view all the answers

    What does the quote by John Wanamaker highlight about advertising spending?

    <p>Half of advertising spending is often wasted.</p> Signup and view all the answers

    Which of the following is NOT a milestone in the evolution of digital marketing?

    <p>Television advertising</p> Signup and view all the answers

    What marketing trend is associated with authenticity and trust?

    <p>Influencer marketing</p> Signup and view all the answers

    What estimated value is associated with the Creator Economy in 2023?

    <p>$250 billion</p> Signup and view all the answers

    Which of the following is a format mentioned that is evolving in digital marketing?

    <p>Voice marketing / Voice SEO</p> Signup and view all the answers

    Which marketing model emphasizes selling directly to the consumer?

    <p>Direct-to-Consumer (D2C) model</p> Signup and view all the answers

    What implication arises for automotive companies when shifting to a D2C model?

    <p>Increased reliance on digital marketing</p> Signup and view all the answers

    Which tactics are included under digital marketing strategies?

    <p>Digital advertising and content marketing</p> Signup and view all the answers

    What is a crucial aspect needed for achieving seamless customer experience across all marketing channels?

    <p>Difficult integration of channels</p> Signup and view all the answers

    What aspect does NOT contribute to the cost-effective nature of digital marketing?

    <p>Higher operational expenses</p> Signup and view all the answers

    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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    Strategic Marketing 2024-25 - Module 6 PDF

    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.

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