Digital Marketing WP RR
This course describes the way of how a company achieves its marketing goals by determining a specified target market and using its sufficient marketing sources to successfully serve the target market. Therefore, marketing is an orderly and insightful process for thinking about and planning for markets. The efforts are conducted in a superior way facing the age of technology advancement. Customer lifetime value is perceived as a controlling factor to formulate a broad strategy and refining it into a detailed marketing mix, i.e. product, price, place or distribution and promotion, and action plan. Planning, evaluation and improvement relating to the marketing mix need marketing decisions by a manager. The decisions include who the company wants as its customers, which needs to satisfy, what products and services to offer, what prices to set, what communications to send and receive, what channels of distribution to use, and what partnerships to develop. In making his/her decisions, he/she might be influenced by uncontrollably environmental factors, such as political, economic, social, legal, technology, demographic factors and competition.
Marketing environment is fast-changing and dynamic in nature. It impacts the way marketers formulate their strategies. For example, digitalization has empowered both consumers but also arms marketers with a more efficient and effective tools to market their offerings. The adoption of internet and other information technologies cause marketer to create innovative ways to deliver customer values. Many businesses and organizations use the Internet and Web media – including social networking and media sharing, web sites and blogging, audio and video and other emerging technologies – to connect with customers and market products and services in the global economy. Marketers find that information technologies have improved efficiency of marketing functions, transformed marketing strategies, and changed consumer behavior. This phenomenon leads greater challenges as well as opportunities to them to redesign their marketing program in more sophisticated ways. Through a series of learning videos, we would like to bring up cases related to digitalization and its implication on marketing strategies.
