Week 1

Introduction to digital marketing

2005 to 2013 smartphone rev.

the concept of the 4 Ps or the Marketing Mix >product > placement> promotion > price

Promotion

Notes

Brand Equity >> value of brand >> coca cola 90B USD

Product

CUSTOMER CO-CREATION 
SHARING ECONOMY

Promotion

not so expensive as before with TV ads

user generated content >> customers reviews

4B USD coca cola adversizing per year on tv

increasingly social media
ex. tesla >>> broken car window >>> marketing genious

stimulus >>> zero moment of truth >>> First moment of truth >>> second moment of truth

interest in the product >>> ZMOT research >>> FMOT selection >>> experience the product what is it worth

2005 no mobiles >>> 2008 all mobiles everything become immediate
marketer must work on ZMOT to influence the consumer
The Zero Moment of Truth (ZMOT) is the phase when the customer is researching purchase options using various sources of information. This is the time when the customer puts out a great amount of rich, valuable information that can be captured by a marketing analyst.

the impact of digital on marketing and advertising can be observed by looking at how __print advertising____ has declined over time.

80B usd in 2000 to 5B usd today >>because all ads go to digital ads

At 2005 Procter and Gamble coined the 3 step marketing model. STIMULUS – > First Moment of Truth – > Second Moment of Truth.

2011 google ZMOT >>> smartphones *  immediacy >> research online immediate>>> power of the consumer and democratization
tools available allow the marketer to analyse the data and form new systems of marketing

consumer consideration
1- initial consideration and evaluation with brands
2- product evaluation
3- moment of purchase
4- post purchasing experience he expects good positive expectations, the marketer can influence him then. phone him offer free support or some small produt
>>> customer becomes loyal
a- during the active-evaluation phase involve consumer-driven activities such as Internet reviews and word-of-mouth recommendations from friends and family.

Hyundai, the South Korean car manufacturer, tackled precisely this problem by adopting a marketing campaign built around protecting consumers financially by allowing them to return their vehicles if they lose their jobs. This provocative message, tied to something very real for Americans, became a major factor in helping Hyundai break into the initial-consideration set of many new consumers. In a poor automotive market, the company’s market share is growing.