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Chapter 1: The Digital Marketing Landscape
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Learning Objectives Comprehend key issues in the digital landscape
Apply communications theories to a digital environment Analyse technology change Evaluate blockchain potential Create a plan to become an opinion leader Annmarie Hanlon
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Generational issues with digital natives and digital immigrants
The Digital Landscape The Internet of Things Big data The sharing economy Ubiquitous computing Generational issues with digital natives and digital immigrants Digital disruption Privacy Annmarie Hanlon
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The Move from Traditional to Digital
Why the change? Newspaper and magazine adverts Online adverts; social media, PPC Newspaper and magazine sales have declined and it’s easier to target people online Door to door sales people Door to door is expensive and we can now personalize offers to existing customers via Company brochures Websites Printing brochures is expensive, so is creating websites, but they are agile and easier to change as needed Traditional PR Online PR, blogs With the decline in newspaper and magazine sales the number of staff has declined too, online PR makes the process easier Directories like the Yellow Pages Search engine marketing The default is to search online and voice search is growing, so directories have become smaller and are rarely used Community groups Social networks We live in a more mobile world where people move to find work, so traditional community groups have declined, but social media networks increased Annmarie Hanlon
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Impact of Technology: Different Generations
Term Birth years Baby Boomers Born mid-1946 to mid-1964 Generation X Mid-1960s to the late 1970s / early 1980s Digital Immigrants Born before 1980 Digital Natives Born after 1980 Net Generation Born between 1982 and 1991 Millennials Born in or after 1982 Google Generation Born after 1993 Generation Y Born between 1981 and 1999 Generation C Born after 1990 Annmarie Hanlon
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Analyse Technology Change: The Pace of Technology Substitution
Old technology ecosystems may find product extension opportunities whereas new technology ecosystems need to counter these challenges See the framework in a later slide: Creative destruction where there are few challenges to the new tech and few opportunities for the old tech resulting in fast substitution Robust coexistence where the old tech fights back and brings out alternatives and a gradual substitution takes place Annmarie Hanlon
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Analyse Technology Change: The Pace of Technology Substitution
Illusion of resilience where the new tech moves in with few challenges Robust resilience where old tech fights back and new tech challenges, bringing about a gradual substitution Annmarie Hanlon
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A Framework for Analysing the Pace of Technology Substitution
Source: Adner & Kapoor (2016, p. 66) Annmarie Hanlon
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The Internet of Things: Consumer-centric IoT Business Models
Source: Verhoef et al. (2017, p. 5) Annmarie Hanlon
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Two-step Flow of Communications: From Influencer to Individual
Source: Katz and Lazarsfeld (1955) Annmarie Hanlon
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Blockchain and Bitcoin
A blockchain is a distributed database so no one person or organization stores all the data, it’s securely shared over several systems, records all actions and is open for verification (Workie & Jain 2017) Blockchain was initially aimed at securely recording all bitcoin transactions but its usefulness on a wider scale for ‘interorganizational cooperation’ was realized (Gupta 2017, p. 3) Bitcoin is a virtual currency bought through online traders – and some ATMs! Annmarie Hanlon
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Traditional Currency and Bitcoins
Government sponsored currency Decentralized and no one individual controls the currency Monies can be taken out of banks in the form of cash No cash exists, Bitcoins are a virtual currency Monies protected in government schemes to certain limits No protection or guarantees Banking processes controlled by state registered banks with staff paid regular salaries Miners process transactions with a performance-based reward system giving Bitcoins for efforts Money processed through banking system Transactions recorded in Blockchain ledger Money supply controlled by government More Bitcoins created by Bitcoin miners Full proof of identity needed to open bank account No details needed to register Bitcoin key for Bitcoin wallet; totally anonymous Limits on amounts of money exchanged per transaction No limits Monies can be bought and sold via banks and registered third-parties Bitcoins can be bought and sold via Bitcoin exchanges ATMs deliver cash when recognized card entered ATMS add Bitcoins to a wallet when QR code provided Bank accounts accessed online, via apps or in person at banks. Bitcoin wallets stored in the cloud or on hard drives and opened with your personal cryptographic private key Annmarie Hanlon
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Opportunities for Blockchain
Blockchain offers the potential to cluster groups of records in one place, such as: Medical records Education and training data Property records Annmarie Hanlon
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The Downside of Blockchain
What this means It uses a lot of energy Some figures say it uses the same energy as a small European country as each element needs computing power The database keeps growing It’s getting slower unless you’re using super computers. Mistakes are permanent If you make a mistake, it’s there forever and can’t be changed. Once content is added, it can’t be corrected – whilst that’s an advantage, it’s also a disadvantage It’s complicated It will take a long time to be used routinely by many major companies The data protection is questionable What if someone did access and share your medical records…. Annmarie Hanlon
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References Adner, R. and Kapoor, R. (2016) ‘Right tech, wrong time: How to make sure your ecosystem is ready for the newest technologies’, Harvard Business Review, 94(11), pp. 60–67. Gupta, V. (2017) ‘A brief history of Blockchain’, Harvard Business Review, February, pp. 2–5. Hanlon, A. (2018) Digital Marketing: Strategic Planning & Integration. London: SAGE Publications. Annmarie Hanlon
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References Verhoef, P. C., Stephen, A. T., Kannan, P. K., Luo, X., Abhishek, V., Andrews, M., Bart, Y., Datta, H., Fong, N., Hoffman, D. L., Hu, M. M., Novak, T., Rand, W. and Zhang, Y. (2017) ‘Consumer connectivity in a complex, technology-enabled, and mobile-oriented world with smart products’, Journal of Interactive Marketing, 40, pp. 1–8. doi: /j.intmar Workie, H. and Jain, K. (2017) ‘Distributed ledger technology: Implications of blockchain for the securities industry 1’, Journal of Securities Operations & Custody, 9(4), pp. 1–22. Annmarie Hanlon
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Reading for Next Week Chapter 2: Hanlon, A. (2018) Digital Marketing: Strategic Planning & Integration. London: SAGE Publications. Annmarie Hanlon
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Next Week The digital consumer Chapter 2 Annmarie Hanlon
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