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Lecture 8

BUS 10123 Lecture Notes - Lecture 8: Consumers Energy


Department
Business Administration Interdisciplinary
Course Code
BUS 10123
Professor
Eric Von Hendrix
Lecture
8

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Digital Marketing and Social Networking
Growth and Benefits of Digital Communication
E-Business
o Carrying out the goals of business through utilization of the Internet
Digital Media
o Electronic media that function using digital codes via computers,
cellular phones, smart phones, and other digital devices that have
been released in recent years
Digital Marketing
o Uses all digital media, including the Internet and mobile and
interactive channels, to develop communication and exchanges with
customers
Digital media has created tremendous opportunities for business to:
o Forge relationships with consumers and business customers
o Target markets more precisely
o Reach previously inaccessible markets at home and around the world
Digital media have created new ways of doing business and shopping
o Fast and inexpensive communication
o More interactive
o Easier comparison shopping
o Easier to conduct marketing research and advertise
Product and Promotion Considerations
Digital media connectivity creates opportunities to add services and
benefits to products
o Some products only available digitally
o Businesses can offer more items online than they could in a retail
store
o Internet can make it easier to learn about and anticipate consumer
needs
o Fierce competition makes quality product and service offerings more
important than ever
Promotion is one of the best applications for digital media:
o Increasing brand awareness
o Connecting with consumers
o Taking advantage of social networks or virtual worlds to form
relationships and generate positive publicity about products
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