Read the following responses. Reflect and Substantively comment on each of the following posts. Suppprt your statements with evidence from the required studies, otehr research, and experiences. (1 source each response)
Response guidlines: Your responses to your classmates posting must be approximately 130 words; and be thoughtful, substantial, and polite-not just a “well done” or a “i agree”.
Discussion 1: (writers name: Kamonte)
Digital marketing involves using websites, apps, social media, and other digital outlets to promote and sell products and services (Team, n.d.). Since the rise of the internet, companies utilize digital marketing to promote their products or services to increase their demand to differentiate their product due to monopolistic competition. Advertising plays a huge role in monopolistic competition. It can cause a firm’s demand curve to become more inelastic or demand for a firm’s product to increase (Unknown, 2022). Some examples successful firms use digital marketing are: Nike whom uses influencer marketing specifically athletes through advertisements, Sephora uses user-generated content, and Spotify which uses email marketing ( Mutua, 2023). Some tools that firm marketers use are: click-through rate, conversion rate, social media traffic, and website traffic. Marketers use these indicators to make productive use of the huge amount of data effectively. Overall, digital marketing plays a significant role for businesses in monopolistic competition and is an effective way to promote their services and products.
References:
Mutua, M. (2023, November 2). 11 companies that are killing it with their digital marketing campaigns. Convince & Convert. https://www.convinceandconvert.com/digital-marketing/killing-it-with-digital-marketing-campaigns/#:~:text=Chipotle%2C%20a%20popular%20fast%2Dcasual,engaging%20with%20their%20audience%20authentically.
Team, T. I. (n.d.-b). What is Digital Marketing? types and examples. Investopedia. https://www.investopedia.com/terms/d/digital-marketing.asp
Unknown. (2022, February 14). Lrnr. https://www.lrnr.us/
Discussion 2: (writers name – Kai)
Digital marketing is a way of advertising that leverages the internet or other digital technology to connect with customers. Rather than using traditional media coverage like television, print, or radio, digital marketing utilizes computers, mobile phones, social media, search engines, etc. The role of digital marketing is to increase demand for the companies products. This can be done through targeted advertising and content marketing to reach target audiences. Once companies reach their target audience, they want to keep loyal customers. This can be done by having brand loyalty programs, truly engaging with customers about their experience, etc, and this can lead to a higher perceived value which will continue to bring customers back to you. This is what will cause the demand curve to be more inelastic. One great example is Coca-Cola’s “Share a Coke” campaign. Advertising for this campaign could be seen everywhere online, but was even more prevalent in person when people were seeing their names on the actual Coke bottles. This more personal approach made Coke feel more personal, and people would actively seek out their names or those of loved ones. This campaign was originally started in Australia, but was so popular that they decided to expand into other countries. It was a super successful campaign and made Coke even more popular than it already was. Other tools to utilize in the digital space are search engine optimization, analytics (clicks through social media like Facebook), customer relations management, email marketing, and graphic design and video editing tools. All of these tools can be used to build brand awareness and brand loyalty by reaching out and connecting with customers.
Works Cited
Google. (n.d.). Google. https://developers.google.com/search/docs/fundamentals/seo-starter-guide
Share a Coke. Share a Coke: The Groundbreaking Campaign from “Down Under.” (n.d.). https://www.coca-cola.com/au/en/media-center/share-a-coke-how-the-groundbreaking-campaign-got-its-start-down-under
TBH, T. (2023, June 9). Branding Case Study : Success of share a Coke campaign. The Brand Hopper. https://thebrandhopper.com/2023/06/09/branding-case-study-success-of-share-a-coke-campaign/
What is Digital Marketing? types, skills, and Careers. Coursera. (n.d.). https://www.coursera.org/articles/digital-marketing
