DIGITAL MARKETING
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ADAPTING MARKETING TO THE NEW ECONOMY
THE MAJOR DRIVERS OF THE NEW ECONOMY
DIGITILIZATION & CONNECTIVITY
DISINTERMEDIATION & REINTERMEDIATION
CUSTOMIZATION & CUSTOMERIZATION
INDUSTRY CONVERGENCE
CHANGING BUSINESS PRACTICES
OLD ECONOMY NEW ECONOMY
Organize by product units Organize by customer segments
Focus on profitable transactions Focus on customer lifetime value
Look primarily at financial scorecard Look also at marketing scorecard
Focus on shareholders Focus on stakeholders
Marketing does the marketing Everyone does the marketing
Build brands through advertising Build brands through performance
Focus on customer acquisition Focus on customer retention
No customer satisfaction measurement Measure customer satisfaction & retention rate
Overpromise, underdeliver Underpromise, overdeliver
THE NEW HYBRID The economy and all companies are a hybrid of old & new economy. The marketplace is made up of traditional consumers, cyber consumers or hybrid ones.
CHANGING MARKETING PRACTICES
1. E-business
e-business >>>>> e-commerce >>>>> e-marketing
Internet Domains
B2C Business to Consumer
B2B Business to Business
C2C Consumer to Consumer
C2B Consumer to Business
2. Setting up web sites
designing an attractive web site
placing ads & promotion online
building a revenue & profit model
3. Customer relationship marketing
customer databases & database marketing
data warehouses & datamining
INTRODUCTION TO E-MARKETING
10 NEW RULES FOR E-MARKETING
Power shift from sellers to buyers.
This may be the most fundamental change of all. The days of marketers holding consumers captive for 30 seconds in front of a screen are quickly coming to a close. It started with channel surfing and the remote control, and it is ending with control of the mouse. Both individual and business buyers are more demanding than ever because they are just one click away from a plethora of global competitors, all vying for their business...