Author: workhouse123
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Marketing Mix Analysis
With the application of D-SWOT for the offerings mix analysis, the next step in the internal analysis involves a marketing mix analysis specifically for digital platforms. A typical marketing mix analysis looks at the four classic Ps of Product, Price, Place, and Promotion along with an STP (Segmenting, Targeting, and Positioning) analysis. With the growth…
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DIGITAL MARKETING INTERNAL ASSESSMENT
The outcome of external assessment as elaborated in the previous section is for any digital marketer to gather market research data relating to how the four key external environment factors—macro, micro, industry, and competition, impact initial assessment. As we move forward to understand internal assessment elements, we should keep in mind that any assessment related…
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Marketing Situation Analysis
In this section, we will look at the second element of External Analysis. This includes analyzing two key components: Application of Market Research To begin understanding how we analyze these two elements—industry and competition—we need to go through a few basics of the vast field of study called market research, which is defined as an…
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Understanding Macro-Micro Environments
The terms macro and micro environments are classic marketing environment terminologies used to bunch and analyze key factors that impact a firm’s ability to build and maintain a profitable business and relationship with customers. A macro environment, by definition, includes variables and factors outside the business which have a positive or negative influence on the…
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Macro-Micro Environment Analysis
With a basic understanding of key assessment phase elements in the last section, let us understand the first element of the external analysis which is the macro-micro environment analysis. The next section focuses on the second element named as market situation analysis. To begin, we first need to gain a broader understanding of all the…
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ELEMENTS OF THE ASSESSMENT PHASE
In the first part on Introduction on Digital Marketing, we learnt about the evolution of internet technologies driving digital marketing, its value chain, and business models, along with the impact of consumer behavior on digital marketing. This next part on Digital Marketing Strategy Development and the following two parts on Digital Marketing Planning and Set-up…
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IMPACT OF DIGITAL CHANNELS ON IMC
With an understanding of the four pillars of IMC, let us look at the impact integration of digital channels had on overall marketing communications:
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INTEGRATED MARKETING COMMUNICATIONS (IMC)
With an understanding of consumer demand, the impact of its patterns on product development, and the basics of web tracking, we move towards the final section of this chapter which discusses integration and application of consistent brand messaging across both traditional and non-traditional marketing channels through an understanding of the fundamentals of Integrated Marketing Communications…
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Brand Building on the Web
In this section, we would understand the actions marketers take to develop brands on the web which consumers can relate to, lend their trust, and be swayed by them over an extended term. A brand according to classic marketing definition is the “name, term, design, symbol, slogan, packaging, or any other mix of such elements that identifies…
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Demand-Led Product Development Process
With an understanding of consumer demand and its patterns, we realize how important it is for marketers to continually understand and incorporate consumer demand to service them in the most productive manner. Although product improvements based on feedback are a historical given, there is a whole new wave of demand-led product development which aims at…