INB301 > Lecture 2: DMS > Flashcards

Lecture 2: DMS Flashcards

(20 cards)

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1
Q

What is the first step of a Marketing Foundation?

A
  1. Understand the Marketplace -
  • Who are the customers?
  • What are their needs?
  1. Who are the competitors
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2
Q

The Second foundation level is designing a customer Driven marketing strategy. What is this?

A

When we first understand our customer then design a product/service around that. In the past - a product was first created We also decide on a value proposition, differentiation and positioning.

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3
Q

What is customer segmentation?

A

Aiming to break up customers into groups with similar needs to provide service. e.g

  1. age group
  2. geography
  3. engagement
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4
Q

What is the third step in the Marketing Foundation?

A

Create a Good distribution Network & Communication Plan. Consider:

  • Product and Service Design:build strong brands
  • Pricing: create a real value
  • Distribution: manage demand and supply chains
  • Promotion: communicate the value proposition
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5
Q

Fourth step in Marketing concept: Strategic plan of creating relationships between customers. Explain.

A

Build and manage a relationship between:

  1. Customers: Keep loyal customers.
  2. Business Partners: With your Marketing Partners.
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6
Q

What is the final step of the Marketing Concepts?

A

NEED to Make Profit! -

  1. Create loyal satisfied customers
  2. Customer lifetime value
  3. Increase share of market and share of customers
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7
Q

Familiarise with the Business and IT Strategy

A
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8
Q

What is Marketing STRATEGY?

A

In a marketing strategy you have:

  • Transaction based OR Customer focused
  • Transaction: when focus is more on making a sell. Less on customer interaction
  • Customer: focus on customers as a course of future transactions
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9
Q

Familarise with the Business Diagram of IT

A
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10
Q

Customer Interaction has been identified as the final component of the customer-orientation model. What does it involve?

A
  • Social Media
  • Physcial word of mouth
  • Mobile device engagement
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11
Q

WHAT IS DMS?

A

Digital Marketing Strategy

  • This are 5 steps on how to interact with customers.
  • Creates a value and revenue on Digital Assets
  • Requires both Business and Technical Serivce:
  • Business: how to perform a digital strategy in performing business models
  • Technical: knowing how to use digital communication channels
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12
Q

What are the 5 steps of Digital Strategy?

A
  1. Plan (Your strategy)
  2. Reach out (Communicate. Decide which channegl to use in your strategy)
  3. Encourage Action (Get customers involved in your product/service)
  4. Convert to a sale ( convert customers from being involved to making a purchase)
  5. Engage customers (continue to keep customers).
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13
Q

STEP ONE: PLAN

A
  • Analyse your situation
  • Understand customers, competitors
  • measure scucess
  • Combine you channels
  • Communicate the benefits
  • Provide releant experiences in channels
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14
Q

How to Determine your measures of success?

A
  1. Knowing how many visitors checked your site
  2. Number of leads that converts to a sale
    1. What the cost of leads will be
  3. Conversion Rates from lead to a sale
  4. How much each sale is worth
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15
Q

Example of Measure Success

A
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16
Q

2nd Step: Reach OUT! HOW?

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A

Ongoing Communication

  • How many people follow your product/ service on social media?
  • Who are active?
  • Communication Measures:How far has your reach extended?
  • Involvement measure: How many new leads are being generated?
  • Sale Conversion Measure (SCM): how many leads are converting to sales
  • Ongoing Engagement Measure: who is talking about your product or service?
17
Q

What are Communicating Channels?

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A

Either online or Offline channels that communicate throught the product or service:

  • Online: search engines, website
  • Relationships with industries associated with you
    • employ social media marketing (email, fb)
  • Offline - television, advertising, personal selling, promotions, newspaper advertisements

Good to incoporate both

18
Q

Step 3: Encourage Action. Get Cusomers Involved

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A

These are some activites organsiations do to bring reenue into organisations.

  • Webinars, Seminars, presentations
  • Online events, online activities
  • entertainment - games, videos, youtubes, tutorials
  • celebrity endorsements
19
Q

Step 4: Convert to a Sale

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A
  • Creating customers to buy either online or offline
  • Make selling product and buying easy for them
    • e.g paypal
  • Appeal to different customers
    • fine detail customers
    • spontaneous buyers
    • competitive - who else has bought these?
    • humanistic - why your product is better then others
20
Q

Step 5: Enage the customer (Ongoing communication)

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A

Plan how to take that communication into a future sale

  • Email and support websites
  • Twitter, FB, instagram
  • Track customer sales
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