02 Foundations on Online Advertising and Marketing.docx

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Department
Communication, Culture and Technology
Course
CCT356H5
Professor
Michael Jones
Semester
Winter

Description
02 Foundations on Online Advertising and Marketing A Short History  The commercial mass internet – about 20 years ago  Many core technologies older – and core governance structures (e.g. W3C) still main players  Online commerce – boom, bust and resurgence o The whole “dot com” bust in the late 90s o There were too many people oversaturating the internet market o Facebook went public last year, and they were having trouble trying to organize these billion accounts. How do you make money out of these things? How do you do social media advertisement properly, etc.  Social media – about 10 years of history, depending on your definition  Still many open questions on online advertising/marketing and how to be successful Think, Create, Engage, Optimize No substitute for good idea  Badly thought out marketing and advertising ideas can‟t be compensated for through good execution o If you start off as a negative thing, there will always be something negative surrounding you. It can go so badly that you can damage your brand quite drastically. At times, people need to change their name because the brand it so bad  Bad initial ideas lead to bad engagement – especially in social media marketing, where bad ideas go viral  You can only optimize a bad idea so far The Internet Changes everything…and nothing  Good marketing still involves identifying and creating demand for product/service  Tools are varied and ever-changing online, as are desired rewards  Basic principles still in play though – too many people forget this and aim for things that are irrelevant (e.g. collecting Facebook likes – why?) o This backfired because everyone is doing their own investigations. Therefore, if someone is trying to find out, they will find out o i.e. Mitt Romney purchasing twitter user accounts The Four P‟s: Product (or service)  What are you selling/providing?  Technology allows for new product potential (e.g., mass customization in fashion, computing, etc.)  Basic product should be clear, simple, intuitive – if prospective customer has to guess what you do, that‟s not good o Things should be concise Price  How much do you charge? Is this reasonable?  Internet can create price pressure – more comparative shopping for low prices  It‟s not all about low price though – high touch services and premium products can and do charge more, successfully  Low-balling price is actually a marketing fault – why? o Apple marks up their products at a very high price. The components that they use are extremely cheap but they charge a mark up of 30% of the gross margin o Being a cheap developer is bad because they deem that the quality would be bad Placement  How do you provide a
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