Published on February 1st, 2014 | by Paul Morris0
Msc in digital marketing week 1 Feb
Note: these notes are aimed as a memory mnemonic for my MSc in Digital Marketing
Module goal = a thorough understanding of the world of marketing
Physical Facilities: Average-Good
Online learning interface: Good
Fellow students & Staff: Great
Nice Marketing Definition: selling goods and services that won’t comeback, to customers who will.
‘Black Swan‘; unknown unknown theory = interesting.
First couple of weeks true focus = marketing orientation and the appropriateness of this methodology in the real world.
… So basically over the past 20 years few real world applicable models have furthered MARKOR. Though what has happened is that research papers have proven marketing orientation is important to areas such as competitive advantage (though that’s eroding if easily Me-To’ed), and price elasticity. Though a note of caution needs to be given to the fact this fact is not so apparent in industries/ times with high flux and to the digital arena (2011 study paper). What is also key is that this discipline is often (well some idiot did call it MARKETING orientation) driven by marketing when in fact it really needs to be driven from the top, and from other divisions, for the business to be focused on what the customer truly wants.
Talk was about the 4 P’s. Oh yey then they became the 7 P’s. Oh yey then they became the 8 P’s. E.g. ‘Philosophy’ or ‘Partnerships’. Focused on the ‘O’.
The 4 C’s (customer solution. Convenience. Communication. Customer cost). Focused on the customer. E.g Walmart’s philosophy with cloud computing being a good digital example. Oh yey then someone turned in into the 7 C’s.
7 S’s by McKinsey and Co. Addresses the critical role of coordination, rather than structure, in ‘O’ effectiveness.