Basic Marketing Fall 2013 Final exam CH 10 Developing new products for domestic markets Digital media electronic media that function using digital codes media available via smartphone computers or any other electronic device aka social media facebook twitter Digital marketing uses all digital media including the internet and mobile interactive channels to develop communication and exchanges with customers electronic marketing E marketing the strategic process of distributing promoting pricing products and discovering the desires of customers using digital media and digital marketing Characteristics of E Marketing include addressability interactivity accessibility connectivity and control addressability the ability of a marketer to identify customers before they make a purchase marketer knows who the customer is and can specifically address that customer social network web based meeting place for friends family coworkers and peers that allow them to communicate for their respective purposes interactivity allows the customers to express their needs and wants directly to the firm in response to its marketing communications ex online chats blogs forums accessibility the ability to obtain digital information ex a company s website connectivity use of digital networks to provide linkages between information providers and users ex many firms use Facebook or twitter to communicate messages advertisements control customers abilities to regulate the information they view and the rate and sequence of their exposure to that information internet is refered to a pull medium because users choose what websites that go to and the marketer loses control of which content the user is exposed to and in what sequence enterprise 2 0 term used to desrcribe a firms efforts to use cutting edge technology associated with social networks and blogs to assist in workplace connections Types of consumer generated marketing and digital media social networks Facebook myspace make a profile and connect with others Linkedin social networking social for professionals resembles a resume Twitter hybrid mix of social networking site and micro blogging site blogs and wikis with other internet users Blogs weblogs web based journals in which writers editorialize and interact Wiki type of software that creates an interface that enables users to add or edit the content of some types of websites a Ex Wikipedia com allows users to change the content photo sharing Some sites are made for users to share photos Ex flikr SmugMug webshots are all online websites for photosharing video sharing some sites are made for users to share videos Ex youtube podcasting podcast audio or video file that can be downloaded from the internet with a subscription that automatically delivers new content to listening devices or personal computers podcast offer the benefit of convenience giving customers power to listen or view content wherever they choose CBC radio NPR PBS virtual realities Include role playing games such as SimCity and world of warcraft Social technographics profile groups people into 6 categories according to how they interact with digital media Creators critics collectors joiners spectators inactive Categories overlap and people can belong to more than one category a Creators create their own media outlet such as blogs podcasts wikis etc b Critics comment on blogs and post ratings and reviews c Collectors organize and gather information created by creators and critics d Joiners anybody joining myspace or twitter or FB etc e Spectators read what others produce but do not produce anything of their own f Inactives don t participate in any of these activities Distribution is a push and pull dynamic Marketers push to get the content in front of the consumer The user is able to navigate their own way through digital media so the marketer cannot control what he she sees or in what sequence pull crowdsourcing refers to the way digital media can be used to outsource tasks to a large group of people Ex crowdspring com allows users to post projects they need done and how much they are willing to pay for them and then people are allowed to choose whether to do the work or not How to evaluate how an online promotional campaign was successful Did the online promotional campaign generate more business for the company Did the campaign create more interest in the company Are there any extraneous variables that could account for an increase in sales Is the increase in demand significant Ethical and legal issues privacy Many consumers are afraid that their information submitted online can be viewed or used for the wrong reasons online fraud any attempt to conduct fraudulent activities online including deceiving consumers into releasing personal information Known as cyber criminals intellectual property Many copyright issues arise with digital media such as YouTube and LimeWire CH 17 integrated marketing communications The nature of integrated marketing communications Integrated marketing communications coordination of promotion and other marketing efforts for maximum informational and persuasive impact Promotion and the Communication Process Communication a sharing of meaning through the transmission of information Source a person group or organization with a meaning it tries to share with a receiver or audience Receiver the individual group or organization that decodes a coded message Coding process encoding converting meaning into a series of signs or symbols Communications channel the medium of transmission that carries the coded message from the source to the receiver Decoding process converting signs or symbols into concepts and ideas Noise anything that reduces a communication s clarity and accuracy Feedback the receiver s response to a decoded message Channel capacity the limit on the volume of information a communication channel can handle effectively Promotion communication to build and maintain relationships by informing and persuading one or more audiences Primary demand demand for a product category rather than for a specific brand Pioneer promotion informs consumers about a new product Selective demand demand for a specific brand The Promotion Mix Promotion mix a combination of promotional methods used to promote a specific product Four elements of a promotion mix Personal selling paid personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation Advertising Public Relations
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