Digital Marketing refers to the use of information technology in the process of creating, communicating, delivering value to current or future customers through co-creation, co-production and management of real-time relationships.
According to Chaffey (2012), digital marketing refers to achieve marketing objectives through applying digital technologies. While Chaffey and Smith (2016) argue that digital marketing refers to just marketing online.
What Is The Difference Between Efficient and Effective Technologies?
Being effective is about doing the right things while being efficient is about doing things right.
Sustaining vs Disruptive Innovations?
Sustaining Innovation refers to when a company improves the performance of its products based on customer feedback. It’s usually about reducing defects and making something faster or more powerful ever. Disruptive Innovations typically involve the lower performance of key features valued by the market, as well as more defects, lower speed and lower power. Also, the disruptive product appears as if it’s doing everything wrong. Born from a need that exists in a niche market that’s neglected by current market offerings.
What Is The Key Difference Between Sustaining and Disruptive Innovations?
Sustaining Innovation satisfies customer’s current needs and want.
Disruptive Technologies in business models evolve to meet customer’s future needs and wants.
Disruptive Innovations are often born from a need that exists in a niche market that is neglected by the current market offering.
Lets us use Taxi and Uber as an example here, people used to travel elsewhere by Taxi, but today, people can just simply use their phone to make a phone call to book a driver, and the waiting time normally shorter than 10 minutes and cheaper than Taxi as well.
What Is POE?
POE refers to Paid, Owned and Earned Media. Firstly, paid media including TV spots, radio spots, print ads, online display ads, outdoor ads. Secondly, owned media including company website and company social media page such as the Facebook page. Thirdly, earned media including blog entries and comments, social media posts and comments, word of mouth and viral marketing.
What Is The Benefit of POE?
Paid Media
Benefits:
- In demand
- Immediacy
- Scale
- Control
Challenges:
- Clutter
- Declining response rates
- Poor credibility
Owned Media
Benefits:
- Control
- Cost efficiency
- Longevity
- Versatility
- Niche audiences
Challenges:
- No guarantees
- Company communication not trusted
- Takes time to scale
Earned Media
Benefits:
- Most credible
- Key role in most sales
- Transparent and live on
Challenges:
- No control
- Can be negative
- Scale
- Hard to measure
