YT YouTube2Text

YouTube2Text → Transcripts → POMDA 01 Introduction

POMDA 01 Introduction — Transcript

by POMDA_Marketing · 4,463 words · 808 segments · language en · Watch on YouTube

Open in transcriber Summarize with AI Download SRT/VTT

Full transcript

0:02Welcome to chapter 1 of principles of
0:05marketing for a digital age on
0:07understanding
0:11marketing. In this chapter, we'll learn
0:14the answers to the following questions.
0:16What has been the evolution of marketing
0:18over time? In what ways has marketing
0:21shifted in response to consumer demands?
0:24What is marketing and what are the core
0:26concepts of marketing? What are the
0:28elements of the marketing mix and what
0:30can be marketed? How are the
0:33technologies of industry 4.0
0:35revolutionizing marketing and the
0:37customer
0:38experience? What is martekch and how
0:40does it support marketing in the age of
0:42marketing
0:48convergence? Marketing is a part of
0:50daily life for people and organizations
0:52everywhere. Perhaps more so than any
0:54other business discipline. We turn to
0:56markets to find, evaluate, select and
0:59buy solutions to meet our needs. Sellers
1:02bring their offers to market to reach
1:04prospective buyers. In fact, this view
1:07of marketing as facilitating exchanges
1:09among buyers and sellers goes back to
1:12ancient times. But as a discipline,
1:14marketing is relatively young. It
1:16developed with the first industrial
1:18revolution, grew in recognition and
1:20relevance with the second, and
1:22experienced substantial changes during
1:24the third. The figure shown on the slide
1:26illustrates these stages. The fourth
1:29industrial revolution called industry
1:314.0 is now at hand and with it has
1:34become a new era of marketing known as
1:37marketing
1:39convergence. Each marketing era's
1:42orientation mirrors the stage of the
1:44industrial revolution stage it follows.
1:47Industry 1.0 introduced mechanization
1:50and factories powered by steam capable
1:52of efficiencies in production.
1:55Demand outstripped supply in many
1:57product categories and marketing's
1:59production era followed a production
2:01orientation that emphasized functional
2:04benefits and offered little in the way
2:05of
2:06alternatives. The moving assembly lines
2:08of industry 2 2.0 increased supply and
2:12resulted in more competition. This
2:14brought on the selling era of marketing
2:18marked by marketers adoption of a
2:20selling orientation which value
2:22persuasion as a way to push products and
2:24convince prospective buyers to buy.
2:27Industry 3.0 saw the development of
2:30computers and robotics and marked an age
2:33of information. This is where the
2:35marketing concept era began. The
2:38marketing concept is a philosophical
2:39orientation focused on achieving
2:41organizational goals by identifying and
2:44meeting the needs of target markets and
2:46doing so better than
2:49competitors. After this stage, we
2:52entered several other orientations of
2:54marketing that coincided with the
2:57marketing concept error and we'll
2:59discuss those on the next slide. But
3:02currently, we're in the stage of
3:03industry 4.0 O or the era of marketing
3:07convergence. We'll also be covering this
3:09in more depth on the following
3:16slides. With the marketing concept era,
3:19several other types of marketing
3:21orientations developed. We still embrace
3:24the importance of identifying and
3:26serving customer needs. But in the
3:281970s, demand for services increased and
3:31thought leaders recognized society as a
3:34marketing stakeholder. The result was
3:36the societal marketing concept and
3:38several related marketing approaches
3:40including social marketing, cause
3:43marketing, cause related marketing,
3:45corporate philanthropy, and corporate
3:47social responsibility.
3:49Marketing guru Philip Cutotler advocated
3:51for a shift to the societal marketing
3:53concept, stating, "The organization's
3:56task is to determine the needs, wants,
3:58and interests of target markets and to
4:01deliver the desired satisfactions more
4:04effectively and efficiently than
4:06competitors in a way that preserves or
4:08enhances the consumers and society's
4:11well-being. In an effort to better
4:13capture marketing's comp competing
4:16priorities, Cutotler and Keller later
4:18proposed the holistic marketing concept,
4:20which includes four marketing
4:22dimensions: relationship marketing,
4:24integrated marketing, internal
4:26marketing, and performance marketing.
4:29The table on the slide features
4:31definitions of these and other types of
4:33marketing that have since developed.
4:35Many of these remain important in our
4:38study of marketing.
4:44Today marketers face change, complexity
4:46and challenges unlike any era prior. We
4:49have entered the era of marketing
4:51convergence. Convergence occurs when two
4:54or more things come together to form a
4:56new hole. Bull mastiffs, for example,
4:59were created by converging the bulldog
5:01and mastiff dog breeds. IBM fused
5:04machine learning and the internet of
5:06things technology to create its
5:08artificial intelligence platform known
5:10as Watson
5:11innovation. Technological convergence is
5:14a major driver for the advanced
5:16innovations of industry
5:184.0. Tesco's delivery robot, Amazon's
5:21drones, self-driving cars, virtual
5:24reality headsets. All of these and more
5:26were created by fusing or converging
5:29individual technologies. What's more,
5:31innovation is a process. An innovation
5:34born of technological convergence may
5:36converge with another technology device
5:39or context producing yet another
5:41innovation and so on. It was through
5:44this cycle of ongoing convergence and
5:46innovation that industry 4.0 came to
5:49influence marketing as technological
5:51convergence generated new products and
5:54product convergence led to industry
5:56level innovations.
6:04In the era of marketing convergence, we
6:06see marketing and technological elements
6:09combine to create new forms of
6:11marketing. For example, digital
6:14networks, social interactions,
6:16advertising, and public relations have
6:18converged to create social media
6:20marketing. Digital advertising and
6:23direct marketing have converged to
6:25create clickable display advertising.
6:28and e-commerce has converged with social
6:31media marketing to create social
6:33commerce. What other examples of
6:35marketing convergence can you
6:41identify? When you think of marketing,
6:44what do you think it means? What words
6:46or phrases come to mind as you consider
6:48what marketing is? Let's take a look at
6:51some common definitions of marketing.
6:54The American Marketing Association
6:56defines marketing as the activity set of
6:59institutions and processes for creating,
7:03communicating, delivering and
7:05exchanging, offering that have value for
7:08customers, clients, partners and society
7:11at large.
7:13The Chartered Institute of Marketing
7:15defines marketing as the management
7:17process for identifying, anticipating,
7:20and satisfying customer requirements
7:24profitably. But the definition that I
7:26prefer was one that was published in the
7:29Oxford English Dictionary in 1922 and it
7:33rings true today. That dictionary said
7:36that marketing means to bring to market
7:39or to produce an offer to be sold in the
7:41market. So we could say that marketing
7:44means going to market. And this simple
7:47definition is really the best. In other
7:49words, marketing encompasses all of the
7:51decisions and activities related to
7:54bringing an offer to market to a market
7:56of prospective buyers and successfully
7:59selling that offer to customers.
8:05Let's take a look at some of the core
8:07concepts related to marketing. We'll
8:10begin with the concept of a market. A
8:13market is the aggregate of all prospects
8:15and customers with an unmet need and the
8:18ability to buy. As such, markets can be
8:21identified by type of buyer, type of
8:24seller, product category, industry,
8:27geographic region and so on. One
8:30typology of market is based on the type
8:33of seller and the type of buyer targeted
8:35and this is shown in table
8:381.2. COC markets are sometimes called
8:41P2P markets or
8:43peer-to-peer. Mobile pay apps like Apple
8:46Pay and Venmo are especially beneficial
8:48for COC markets. C2B markets include
8:52freelancers and independent contractors
8:54who provide services to business
8:55clients.
8:57Most commonly in marketing, we talk
8:59about BTOC markets and B2B markets. BTOC
9:03markets target individuals and
9:05households and products for personal
9:06use. BTOC markets utilize traditional
9:09shopping venues like shopping malls,
9:11grocery stores, and department stores,
9:13as well as e-commerce via online stores
9:16and
9:17marketplaces. B2B markets focus on
9:20products needed for business and
9:21professional use. Government
9:23organizations may also be grouped into
9:25this market or considered as a separate
9:27type of target market. Vertical B2B
9:30markets refer to one specific industry
9:33segment such as healthcare or education
9:35and horiz horizontal B2B markets refer
9:39to products that are valued across a
9:41range of different industries such as
9:43information technology and office
9:45equipment.
9:46Sometimes we can have a different type
9:49of market entirely and this is evidenced
9:52by a new type of market called
9:54platforms. Platforms are two-sided or
9:57multi-sided markets. Airbnb and are
10:00examples of platforms. They
10:04include both buyers and sellers.
10:12Other core concepts of marketing that
10:14you should be familiar with include the
10:16concept of exchange, needs, and
10:22utility. Marketing is critical to the
10:24success of any business. In fact, Peter
10:27Ducker said, "The purpose of a business
10:29is to create a customer, and customers
10:32are created when they choose to exchange
10:34something of value for the
10:36organization's offer. Therefore, we can
10:39say that exchange is a transfer of value
10:42between buyer and
10:44seller. A need is something that is
10:47wanted or required to bridge a gap
10:49between an actual state and a desired
10:52state. The most famous framework for
10:55understanding need states is that of
10:57maslo's hierarchy of needs, which we'll
10:59discuss on the following slide.
11:03A utility is the state of being
11:05beneficial and benefits are advantages
11:08or desirable
11:10outcomes. In the context of marketing,
11:12products benefit customers by providing
11:15utilities that meet customer needs. From
11:17the customer's perspective, utility
11:20could relate to any need state,
11:22functional, physical, emotional, social
11:24and so on. Marketers consider utility in
11:28terms of providing the right product
11:30which is form utility at the right time
11:33which is time utility in the right place
11:36which is place utility at the right
11:39price which is possession utility and
11:41communicating this offer to the market
11:43which is information utility.
11:53A need is something that is wanted or
11:55required to bridge a gap between an
11:56actionable state and a desired state.
11:59And this is one of the key concepts that
12:01we need to understand in order to
12:04understand how to be successful
12:06marketers. Maslo's hierarchy of needs is
12:09perhaps the most famous framework for
12:11understanding need states. According to
12:13Maslo, physiological needs are first,
12:17then followed by security needs,
12:19followed by social needs, self-esteem
12:22needs, and lastly, self-actualization
12:26needs. Examples of physiological needs
12:28include hunger and thirst. Examples of
12:32safety needs include protection and
12:34security. Examples of social needs are
12:37relationships, love, and friendship.
12:39Examples of esteem include achievement
12:42and recognition. And examples of
12:45cognitive needs include the the need for
12:47knowledge and
12:48curiosity. And then we also have
12:50aesthetic needs which is knowledge
12:52through beauty, form and design. Lastly,
12:55we have the need for
12:57self-actualization, which is the need
13:00for inner
13:02fulfillment. A key principle is that
13:04only an unmet need can motivate.
13:07So we need to consider what is an unmet
13:11need in order to identify what it is
13:14that we want to bring to market as an
13:17offer. This is why understanding the
13:19needs and motives of prospective buyers
13:21in the market is a marketing core
13:25competency. Organizations also have
13:27needs and this is reflected in the blue
13:31uh diagram.
13:34Organizations have needs that work much
13:36the same way as individual needs.
13:39Instead of physiological needs though,
13:41we have operational needs which would be
13:43our core business model, our operations
13:45and our systems functionality.
13:48Organizations also have safety needs.
13:50These include security, risk management
13:52and
13:53compliance. There are also social social
13:56needs that organizations seek to meet.
13:58These are seen in organizational
14:00culture, teamwork and customer
14:02relationship
14:03management. Organizations have esteem
14:06needs. They seek to develop good re
14:09reputations to achieve their goals and
14:12to establish brand equity. They also
14:15have cognitive needs. This can be seen
14:17in organizations work to establish
14:20thought leadership training provided to
14:23employees and in their investments in
14:25research and development.
14:27Organizations also have aesthetic needs
14:29which we can see in their construction
14:32and acquisition of knowledge and design.
14:34And lastly, organizations may seek to
14:37become organizationally
14:40actualized. This can be seen in their
14:42attempt to achieve the organization's
14:45vision and focus on corporate social
14:47responsibility.
14:53So, we said that marketing means going
14:56to market. And with what do we go to
14:58market? Well, we go to market with an
15:01offer. And an offer is made up of the
15:04marketing mix. Organizations design
15:06offers that are made up of all of the
15:08components in the marketing mix as
15:10depicted in the figure shown on the
15:12slide. The classic marketing mix
15:15includes what is known as the four Ps.
15:18product, price, place, and promotion.
15:21But the mix expanded to accommodate
15:24services with three additional Ps. These
15:27include people, process, and presence.
15:30Presence was traditionally referred to
15:32as physical environment. But because of
15:35our emphasis on digital marketing, we
15:37now use presence to capture the tangible
15:40cues that can be present in either
15:43virtual or physical environment. We'll
15:47be looking at these seven Ps as we go
15:50through the
15:51course, spending um approximately a
15:55chapter on product, price, place, and
15:58promotion, and then a chapter on people,
16:00process, and presence. But let's briefly
16:03review what these seven Ps mean. Now, a
16:08product is an entity offered for sale.
16:10Its form makes manifest a core benefit
16:13or utility of value. Products may be
16:16tangible or intangible. In essence,
16:19anything of value could be marketed as a
16:21product for sale, including goods,
16:23services, experiences, events, ideas,
16:28locations, organizations, people, and
16:31property. Almost anything can be
16:33marketed as a
16:35product. Theodore Levit pointed out that
16:38whether a product is tangible or
16:39intangible, customers are essentially
16:41asked to buy promises. promises that the
16:44needs motivating their purchase will be
16:47satisfied. Product decisions in the
16:49marketing mix encompass several specific
16:52areas such as what will the core
16:55benefits be that are offered with the
16:56product? What will the product design
16:59be? What features will be prevalent in
17:02the product's design? What quality will
17:05be offered? How will we package the
17:07product? What will the brand meaning be?
17:10and what product mix will we offer in
17:12our product portfolio. All of these
17:15elements are part of product decisions
17:17that we'll study as we move through the
17:20course. Price is the assignment of value
17:23required for an exchange to occur. When
17:26customers evaluate a product for
17:28possible purchase, they consider its
17:30perceived value against the asking
17:32price. Pricing decisions incorporate
17:35elasticity of demand, perceived value,
17:38price comparisons, mental accounting,
17:41costs, price strategy, and discounts,
17:44allowances, and financing options. We'll
17:47cover price further in chapter 7 of the
17:51text. Place refers to the channel of
17:54distribution used to make the product
17:56available for purchase at a time and
17:58location chosen by the prospective
18:00customer. Place decisions encompass
18:02supply chain management, decisions
18:05regarding distribution intensity,
18:07directness of channels and use of
18:08intermediaries like wholesalers and
18:11retailers, retail settings, geographic
18:14proximity to the customer, whether we're
18:16selling online or offline, multi-channel
18:19or omni channel, inventory management
18:21and fulfillment. We're going to cover
18:24place decisions in depth in chapter
18:26eight of the book.
18:28The promotional mix includes all the
18:31activities and communication channels
18:33marketers may use to communicate with
18:35prospects and customers. It includes
18:37advertising, public relations, social
18:40media marketing, selling, direct
18:43marketing, events and experiences and
18:45can utilize many forms of media.
18:48Sometimes it's called integrated
18:49marketing communications or MorCom and
18:52we'll learn more about promotion in
18:54chapter 9. The people P was added to the
18:57marketing mix to address the influence
18:59of service providers on customer
19:01experiences and outcomes when buying
19:03services. But the relevance of people in
19:06the marketing mix has grown as marketers
19:08embrace internal marketing which means
19:10marketing within the organization
19:12especially to employees and the value of
19:14customer relationship
19:16management. Like people process join the
19:19marketing mix because of the unique
19:21nature of services. In traditional
19:23service settings, the consumption of a
19:25service cannot be separated from the
19:27manufacturer of the service because
19:29customers experience the manufacturing
19:31process. Process design can influence
19:34the customer experience and the customer
19:37satisfaction with their outcomes.
19:40Service marketers blueprint this service
19:42process to identify possible
19:45improvements. and research into customer
19:47journeys shows that process is also
19:50relevant to other customer
19:53experiences. Lastly, presence includes
19:55the characteristics that influence
19:57perceptions of the marketing
19:59environment. Initially called physical
20:01environment, it was added to the
20:03marketing mix to provide for tangible
20:05evidence in the form of sensory cues to
20:08support the underlying promises we make
20:10when marketing
20:11services. Digital marketing is limited
20:14to sight and sound. to marketers use
20:16design elements to suggest sensory
20:19sensory perceptions in virtual
20:21environments. The term presence captures
20:24the state or perception of being
20:25somewhere whether that somewhere is a
20:28physical or virtual location. In either
20:31case, marketers build the environments
20:33of sensory cues, including auditory,
20:36visual, kinesthetic, alactory, and
20:39gustatory by designing ambient
20:42conditions, spatial layouts and
20:44functionality, sounds, sense,
20:46aesthetics, and signs and symbols.
20:58In this book, we also explore the
21:00technologies of industry 4.0 and how
21:02they relate to marketing and the era of
21:05marketing convergence. Industry 4.0 0
21:08applies physical and digital
21:09technologies including the internet of
21:12things, advanced analytics, robotics,
21:15high performance computing, artificial
21:18intelligence and cognitive technologies,
21:20virtual and augmented reality and
21:23multissource data to manufacturing.
21:25Digitization affects the entire value
21:28chain and makes new business models
21:30possible. These technologies make the
21:32digitization of products, distribution
21:34channels, media and promotion and
21:37pricing approaches possible. And we'll
21:39explore this as we go through the
21:41course. As customers interact with
21:43brands online and offline, data is
21:46produced and when captured, stored, and
21:48used in advanced analytics represents an
21:51asset. The resulting big data can drive
21:54powerful insights into buyer behavior.
21:57An article from Deote explains it best.
22:00It says the fourth industrial revolution
22:02is important to understand because it
22:04doesn't just touch manufacturers. It
22:06could touch all of
22:11us. Industry 4.0 includes several
22:15technologies, specifically the internet
22:18of everything, digital reality,
22:21cognitive technologies, blockchain,
22:24additive manufacturing, and big data
22:26analytics and algorithms. The internet
22:29of everything is defined as the network
22:31connection of things, people, process,
22:33and data. We most often hear about the
22:36internet of things, but over time,
22:38understanding all four components of the
22:40internet of everything will be
22:42increasingly relevant. And throughout
22:44the book, we'll look at how the internet
22:47of everything is affecting
22:49marketing. Digital reality is a term
22:53coined by Deote Consulting. It
22:55encompasses technologies that enable
22:57immersive experiences and simulations of
23:00reality, including augmented reality or
23:03AR, virtual reality or VR, mixed reality
23:07or MR, and 360 degree video. Digital
23:11reality utilizes data from sensors and
23:14cameras to create presentations,
23:16including visual and auditory elements
23:18with which users can interact using
23:20gestures and voice commands.
23:23Marketers are using these digital
23:25reality technologies to enhance the
23:28experience that their customers have
23:31with the brand and with their
23:33products. Cognitive technologies perform
23:36tasks, inform decisions, and accomplish
23:39objectives that traditionally required
23:41human intelligence, including reasoning
23:43and learning. There are several types of
23:46cognitive technologies including
23:48artificial intelligence, machine
23:50learning, robotics and automation, and
23:53language processing including voice,
23:55speech, image, video, text, and
23:58sentiment. Machine learning is a set of
24:00statistical techniques that automate
24:02analytical model building algorithms
24:05that iteratively learn from data without
24:08the need for explicit programming.
24:10Robotic automation combines artificial
24:12intelligence and automation to process
24:15data and automate processes. And
24:17language processing refers to
24:19statistical techniques that enable the
24:21analysis, understanding, and generation
24:23of human languages. Marketing
24:25organizations can use cognitive
24:27technologies to predict consumer
24:29purchases, recognize fraudulent credit
24:32card activities, and automate
24:33personalized targeting of digital ads.
24:35These are just a few examples.
24:39A blockchain is essentially a digital
24:41ledger or database of transactions and
24:44records replicated in real time across a
24:46network of computers or nodes. Because
24:49the records are copied to all of the
24:51computers in a participating network, it
24:53is sometimes called a distributed
24:55ledger. Fixed structures called blocks
24:58store the data and a block fa blockchain
25:02database links to all previous blocks
25:05and consequently maintains a complete
25:07history of all the assets and
25:09instructions executed since the very
25:11first one. This makes blockchain data
25:13secure, verifiable and independently
25:16audit auditable. These characteristics
25:19make blockchain especially valuable for
25:21financial exchanges, regulatory
25:23compliance, security applications, and
25:26the execution of smart
25:29contracts. Additive manufacturing refers
25:32to a process by which digital 3D design
25:35data is used to build up a component and
25:38layers by depositing material.
25:41Though the most relevant in
25:43manufacturing settings, 3D printing has
25:45marketing applications in product
25:47design, prototyping, research and
25:49development, quality testing, small
25:52batch customized production as well as
25:54postsale service and
25:57maintenance. Lastly, big data analytics
26:00is important for marketing and one of
26:05the technologies of industry 4.0.
26:08Big data is data of a very large size,
26:11typically to the extent that its
26:12manipulation and management presents
26:14significant logistical challenges. It's
26:17also been defined by its properties, the
26:19three Vss, volume, variety, and
26:23velocity. But importantly for us, big
26:26data provides an asset for use in
26:29analytics that we can use for marketing
26:31purposes.
26:36The combination of digital technology
26:38and marketing is known as martekch.
26:40Companies may develop capabilities
26:42inhouse and or work with partners to
26:45develop the set of digital technologies
26:46it will use to conduct and improve its
26:49marketing activities. The field of
26:51martekch applications and vendor
26:53partners has grown rapidly in recent
26:55years. And while it may include a number
26:58of different types of capabilities, we
27:01can summarize the major categories of
27:04Martekch
27:06by six different categories. Those are
27:10advertising and promotion, content and
27:13customer experience
27:14delivery, social media management and
27:18relationships, commerce and sales, data
27:22and
27:30management. Table 1.4 4 lists the most
27:33popular areas of martekch as well as
27:35specific applications in each area as
27:38well as exemplar vendors that are
27:41providing solutions in each of the
27:43areas. Some companies offer enterprise
27:46marketing software suites or
27:48EMss which incorporate many marketing
27:51system capabilities from a single
27:53provider. EMS providers include Adobe,
27:57IBM Watson Marketing, Oracle,
28:00Salesforce, SAP, SAS, and Marquetto. You
28:04can learn more more about Martekch by
28:06visiting chief
28:08martekch.com. And while you're there,
28:10check out the graphic depicting the many
28:12martekch categories and its many
28:14vendors.
28:20Redwing Shoes provides a great example
28:23of a company that is using what is known
28:26as the Martekch stack very effectively.
28:29Redwing Shoes is a leading brand of
28:31occupational safety boots used by
28:34workers in construction and industrial
28:36settings. The brand began in response to
28:39an unmet need in the marketplace.
28:41workers needed safety boots that were
28:43durable and comfortable. And it became
28:45the go-to brand for oil fil workers with
28:48the introduction of a handmade but
28:49durable boot designed specifically for
28:51the harsh conditions common to the oil
28:54industry. Now, Redwing shoes are sold in
28:57more than 100 countries around the
28:59world. The brand is more than 100 years
29:02old, but you wouldn't guess that from
29:03its innovative adoption of digital
29:05technology, particularly for marketing
29:08purposes. The company uses marketing
29:10technology for a wide range of marketing
29:13activities. Martekch is used to operate
29:15its e-commerce website and to promote
29:17the brand and manage customer
29:19relationships, whether to end consumers
29:22or businesses who purchase the brand for
29:24their employees or franchises for its
29:26retail stores. Not surprisingly, the
29:29company uses big data and analytics in a
29:32variety of ways. For example, Redwing
29:34worked with IBM Watson advertising to
29:37build brand awareness and drive store
29:39traffic by analyzing the weather
29:41conditions coinciding with customer
29:43purchase patterns in its retail stores.
29:45They identified weather conditions that
29:47were likely to trigger a spike in work
29:49boot sales. This intelligence was then
29:52used to develop an algorithm to guide
29:54the delivery of mobile advertising
29:56targeted by location, weather, and
29:58workplace setting in real time. In other
30:01words, people who worked outdoors at
30:03places like construction sites,
30:05experiencing weather trigger events, and
30:07who were likely to be in need of work
30:09boots saw mobile ads displaying the
30:11closest Redwing store. The investment
30:14paid off, resulting in a
30:1641.4% lift in store visits. Dynamic
30:19marketing automation was used to
30:21optimize email marketing, too. Rather
30:23than deploying a one-sizefits-all email
30:25message, customers received messages
30:28tailored to their past experience, such
30:30as store location, favorite footwear,
30:32and hobbies and
30:35interests. You can see from the slide a
30:38picture of the Martekch stack that
30:41Redwing Shoes uses. This includes
30:46such solutions as Live Agent, Confirm
30:49It, YouTube, Sprouto Social, Excel,
30:53Dropbox, Google Analytics, Forester,
30:56Shuttertock, Linda.com, Basec Camp, and
31:00more. This is an example of how a
31:03variety of marketing technologies can
31:05work together in a cohesive martekch
31:07stack to deliver digital marketing
31:10capabilities for a brand.
31:19One of the features of the textbook
31:20we're using, Principles Marketing for a
31:22Digital Age, is the inclusion of a Prime
31:25cases box in each chapter of the book.
31:29Prime stands
31:33for principles for responsible
31:35management education. And the Prime
31:38initiative is a platform to bring
31:40awareness of sustainability issues
31:42facing the world to the attention of
31:44business students and to educate
31:46students as to how businesses can
31:48contribute thereby ensuring that
31:50students have the skills needed to
31:51balance the economic goals of business
31:53with the sustainability goals of the
31:55world. And the prime initiative
31:58specifically seeks to help to promote
32:02the UN's sustainable development goals
32:05or
32:06SGAAS. In 2015, the member states of the
32:09United Nations committed to pursue an
32:12ambitious plan to solve the world's
32:14greatest challenges and this was known
32:16as the 2030 agenda for sustainable
32:18development. At the heart of the plan
32:20are the 17 SDGs or sustainable
32:24development goals, also known as the
32:26global goals. These are shown on the
32:29slide and you can see all 17 of the
32:33goals listed here. With this noble
32:36mission in mind, each chapter in the
32:38principles of marketing for a digital
32:40age book includes a prime case that
32:43explains how a brand has applied the
32:45marketing lessons featured in that
32:47chapter to contribute to accomplishing
32:49one or more of the STGS. In this way, we
32:53have the opportunity to reinforce how
32:54the marketing concepts can be applied
32:57while also highlighting the valuable
32:58role businesses play in making the world
33:01a better place. You can learn more about
33:03the initiative by visiting the United
33:05Nations SG website and viewing videos on
33:08that
33:14website. In this chapter, we covered a
33:16lot of material. The review questions
33:19for the chapter are shown on the slide.
33:22You should be able to answer these
33:23questions having covered the material in
33:26the chapter and watched our video
33:29presentation.
33:30Some of the things that you should
33:32remember include the four stages of
33:34industrial revolution and how each stage
33:37influences the marketing orientation
33:39that prevailed during that time. You
33:42should also know the eras of marketing
33:44and how societal marketing and the era
33:47of marketing convergence differ from the
33:49errors that preceded the marketing
33:51concept. You should know how to define
33:54marketing and you should understand why
33:56utility is relevant to the study of
33:58marketing. Similarly, how can Maslo's
34:02need hierarchy be applied to personal
34:05and organizational needs? You should
34:07know the seven Ps of the marketing mix.
34:10These make up an offer. And of course,
34:13marketing is defined as going to market
34:15and we go to market with an offer. You
34:18should also be familiar with the some of
34:19the types of marketing decisions that
34:21are associated with each of the seven
34:23Ps. And lastly, we reviewed the forms of
34:26technology that are prevalent in
34:28industry 4.0. 0 and we looked at the use
34:31of martekch stacks to incorporate
34:34digital marketing technologies into our
34:38marketing operations in a way that help
34:40us facilitate our marketing objectives.

About this transcript

This page contains the full transcript of POMDA 01 Introduction by POMDA_Marketing, generated from the public captions YouTube serves with the video. The transcript has 4,463 words across 808 segments, with the original timestamps preserved so you can click any line to jump to that moment in the embedded player.

What you can do with it

Use the transcript to take notes, quote the speaker, build a study guide, generate a summary with ChatGPT or Claude via the YouTube Summary tool, or export it as a timed subtitle file with YouTube to SRT. You can also re-open it in the transcriber to translate the transcript into 100+ languages.

Free YouTube transcript tool

YouTube2Text is a free YouTube transcript generator — no signup, no daily limit. Paste any YouTube link and get the full transcript instantly, with timestamps, click-to-jump, translation to 100+ languages, AI prompts for ChatGPT, Claude, and Gemini, and exports to TXT, SRT, VTT, or Markdown.