Digital Marketing 2 - From mass to segment of one
"Because the purpose of business is to create a customer, the business enterprise has two--and only two--basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business." (Peter Drucker)
The digital revolution has led to one of the oldest professions being in the forefront once again: Marketing. By providing not only several new channels for marketers to communicate with their potential consumers, but also an immense amount of data, the way advertising messages can be addressed and delivered has been revolutionised. Thus, not surprisingly, CMOs became the drivers of data technology innovation, and all the fastest growing technology giants have recognised the need to put strong focus on this area. During the course, we discuss the evolution of modern marketing techniques – paralleling the development of modern mass media and the methodologies developed to understand the effects and efficiency of marketing communication. We will evaluate the sources of data in relation to consumer behaviour and media consumption as well as the techniques developed to analyse such data.
Students will understand the main drivers of modern marketing, the methods used to identify, reach and engage with potential consumers. Will have an overall understanding of the methods used to collect information about the attitudes, opinions and behaviour of consumer, the off and on-line communication channels where marketers can reach the and the methods of measuring and evaluating the performance of these channels. We will review the data collections techniques, sources and analyzation methodologies, the use of big data analyses, IoT and AI in developing modern marketing communication.
- Group assignments (3 in total) – max 100 points x No of team members /group/assignment
- Teams of 3 or 4 to develop responses for the tasks introduced during each lecture. The responses to be presented on the next occasion and the teams receive points based on their performance. The points earned by a team can be distributed among the team members, based on their own judgement.
- Active participation – 100 points/lecture
- Each student receives 0-100 points after each lecture as appreciation of their active contribution during the class, including group tasks, comments and Q&A participation.