Professional Documents
Culture Documents
MARKETING
UNIT 1
Papa ji ke Notes
~ Tejas Bhatnagar
MEANING & DEFINITION
MEANING
Digital marketing encompasses all marketing efforts that use an electronic device
or the internet. Businesses leverage digital channels such as search engines,
social media, email, and their websites to connect with current and prospective
customers in a interactive way (two-way communication).
DEFINITION
IMPORTANCE
1 Increased reach and visibility Global – No physical location
TRADITIONAL
Traditional marketing refers to the use of traditional channels and methods to
promote and sell products or services. This includes print media such as
newspapers, magazines, flyers, and brochures, as well as broadcast media such
as TV and radio advertising. Other traditional marketing methods include
billboards, telemarketing, and event sponsorships.
DIFFERENCE
DIGITAL TRADITIONAL
Employees
Customer Supplier
Competitors Intermediaries
Customer
Customers are a key factor in the internet microenvironment, Understanding their
needs and preferences is essential for developing effective digital marketing
strategies. This can be done by gathering and analysing the quantitative and
qualitative data to track consumer behavior and create more consumer insights
Employees
Employees are responsible for executing digital marketing strategies effectively.
They must have a deep understanding of the company's digital marketing goals,
target audience, and brand voice. It's crucial for them to have the necessary skills
and expertise, stay up to date with the latest digital marketing trends.
Supplier
Suppliers are another important factor in the internet microenvironment, as they
provide the resources and tools necessary for businesses to execute effective
digital marketing strategies. (Good Quality), Suppliers may provide a wide range
of resources, such as website hosting, domain registration, analytics tools, and
advertising platforms.
Competitors
Competitors are a crucial factor in the internet microenvironment. Understanding
their digital marketing strategies and tactics is essential for businesses to develop
effective strategies of their own. By analyzing competitors' strategies, businesses
can identify opportunities for differentiation and innovation, and respond quickly
to any threats or opportunities to stay ahead of the competition.
Intermediaries
Intermediaries facilitate the connection between businesses and their target
audience in the internet microenvironment. such as online marketplaces, social
media platforms, and search engines. They can impact businesses' visibility,
reach, and engagement online. By optimizing their online presence and working
closely with intermediaries, businesses can tailor their digital marketing strategies
more effectively and reach a wider audience.
B2C and B2B are two different models of internet marketing that are used to
target different types of customers.
BUSINESS-TO-CONSUMER
BUSINESS-TO-BUSINESS
B2B, or business-to-business, refers to marketing strategies that are designed to
target other businesses. B2B marketing may involve targeted advertising on
business-focused platforms, email marketing to decision-makers at other
companies, or the creation of industry-specific content and thought leadership.
While B2C and B2B marketing may differ in their tactics and focus, both are
critical components of a successful internet marketing strategy. Businesses must
tailor their strategies to the unique needs and preferences of their target
audience, whether they are individual consumers or other businesses.
Overall, the use of B2C and B2B marketing in internet marketing depends on the
specific goals and target audience of the business. By understanding the
differences between these two models and tailoring their strategies accordingly,
businesses can maximize their online presence and reach their target audience
effectively.
INTERNET MARKETING
STRATEGY
An internet marketing (Digital marketing) strategy is a plan that outlines how a
business will use digital channels like social media, search engines, and email to
reach and engage with their target audience. The strategy includes different
techniques and tactics to achieve marketing goals
Integrated Strategy
An integrated internet marketing strategy is one that incorporates multiple tactics
and channels to achieve a unified goal. This involves identifying the target
audience, setting clear marketing goals, and selecting the most effective
channels and tactics for reaching that audience. An integrated strategy ensures
that all aspects of a business's digital marketing efforts work together seamlessly
to achieve the desired results.
Strategy Building
Building a successful internet marketing strategy requires a clear understanding
of the target audience, marketing goals, and available digital channels and
tactics. This involves conducting market research, analyzing competitors, and
developing a plan that aligns with the overall business objectives. A well-crafted
strategy will outline the specific steps needed to achieve marketing goals and
provide a roadmap for success.
Goal Setting
Setting clear, measurable marketing goals is essential for any successful internet
marketing strategy. This involves identifying the specific outcomes that the
business hopes to achieve through its digital marketing efforts, such as increased
website traffic, lead generation, or sales. Goals should be specific, measurable,
attainable, relevant, and time-bound to ensure that they are achievable and
aligned with the overall business objectives.
Strategy Formulation
Formulating an effective internet marketing strategy requires careful
consideration of the available digital channels and tactics. This involves selecting
the most appropriate channels and tactics for reaching the target audience and
achieving the desired marketing goals. The strategy should also outline how
different channels and tactics will work together to achieve a unified goal and
ensure a consistent brand message across all platforms.
Implementation
Implementing an internet marketing strategy involves putting the plan into action
and executing the various tactics and techniques identified in the strategy. This
may involve creating and publishing content, launching targeted advertising
campaigns, or engaging with customers on social media. A well-executed
implementation plan ensures that the strategy is effectively implemented and
that the business is on track to achieve its marketing goals.
Strategy Review
Regularly reviewing and analyzing the performance of an internet marketing
strategy is essential for refining and improving the plan over time. This involves
tracking and analyzing key metrics, such as website traffic, engagement rates, and
conversion rates, to identify areas for improvement and make necessary
adjustments to the strategy. By reviewing the strategy on a regular basis,
businesses can ensure that their digital marketing efforts remain aligned with
their overall business objectives and continue to drive growth and success.
QUICK NOTES
SCOPE IMPORTANCE
1 A new trend in the market 1 Increased reach and visibility
2 Flexibility 2 Cost-effective
DIGITAL TRADITIONAL
Global Local
Customer Supplier
Competitors Intermediaries
B2C and B2B marketing are both important for a successful internet marketing
strategy. B2C targets individual consumers through social media, email marketing,
and SEO, while B2B targets other businesses through industry-specific content
and advertising. Benefits include increased awareness, better interaction, better
service, and refined messaging. Businesses must tailor their strategies to their
target audience and goals to maximize their online presence.