Back to work and week 2 of Digital Marketing.
This week looks at ‘Opportunities and Threats in the Micro Environment’.
The content this week starts by looking at five different ‘Online Consumer Behaviour Models’ which are structured ways of looking at how users of the internet behave. These models can be used to help a business/individual decide what features their website requires by guiding choices around market segmentation, digital channel strategy and crafting the marketing message.
These models are explained in depth in the textbook:
The second feature of week 2 is a look at Michael Porter’s (1980) 5 Forces framework for analysing competitiveness in an industry. This is a framework used extensively in strategy, management and marketing. It looks at 5 features of an industry which can effect a businesses chance of success compared to it’s competitors. In terms of digital marketing, the effects of the internet are the lens through which we examine this framework.
The final element of the content this week discusses the opportunities and threats of digital intermediaries. Marketing intermediaries are said to help with promotion and distribution of a business’s products. Intermediaries can be media sites, comparison sites, search engines, social networks, blogs and directories. These intermediaries can create both opportunities and threats for businesses. This can happen because these intermediaries can be used to help your business and if you are not pro-active could be stifling chances for you to attract and convert customers.
Loads of food for thought in this week’s content, preparing the groundwork for a digital marketing strategy. What kind of behaviour do you think your customers enact? What do think the major forces are in your industry? What kind of intermediaries do you think could help/hinder your business?