Digital Marketing Concepts

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What is Digital Marketing?

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The science and art of exploring, creating, and delivering value to satisfy the needs of a target market at a profit.

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What are the key differences between Traditional Marketing and Digital Marketing?

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Traditional Marketing has limited reach, is non-versatile, involves delayed communication, is expensive, and has poor campaign measurement. Digital Marketing has maximum reach, is versatile, allows instant communication, is cost-efficient, and enables easy measurement and optimization.

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What are the 5P's of Marketing?

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People, Price, Product, Promotion, Place.

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What is the significance of Price in Digital Marketing?

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Price strategies include frictionless payment methods like Amazon's 1-Click purchase and subscription models.

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How has Digital Marketing transformed Product consumption?

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Digital is changing how products are consumed, with trends like the sharing economy and wearable technology.

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What does Promotion in the 5P's of Marketing refer to?

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Promotion includes digital ad spending, which increased by 10.5% in 2023.

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What does Place refer to in Digital Marketing?

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Place refers to a brand's online presence, including its website and social media.

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What are the three groups of tactics for acquiring customers?

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1. Paid Media (ads, sponsored articles), 2. Owned Media (blogs, social media), 3. Earned Media (websites, social media accounts).

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What are the stages of the customer lifecycle?

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1. Attract/Awareness, 2. Engage/Consideration, 3. Convert/Purchase, 4. Post-purchase.

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What is the focus of the Attract/Awareness stage?

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Making the brand visible through content marketing, SEO, SEM, and SMM.