MGT 6311: Digital Marketing - Midterm Exam

MGT 6311: Digital Marketing - Midterm Exam Marketing ANS-Creation and satisfaction of demand for a product or service. Digital Marketing ANS-Utilizing the internet and other digital channels to drive demand for products and services Strategy ANS-Set of ideas that outline how a product or brand will meet its objectives Tactic ANS-A specific action or method that contributes to achieving a goal. Components of GOST strategy ANS-Goals Objectives Strategies Tactics What are the Five Cs? ANS-Customers Company Collaborators Competitors Context Customers (5 Cs) ANS-Potential buyers with wants and needs that the company aims to fulfill with its offerings Business vs. non-business buyers Company (5 Cs) ANS-The org or business unit providing certain goods or services Look internally at messaging, positioning, etc. SWOT ANS-Strength, Weakness, Opportunities, Threats Competitors (5 Cs) ANS-Orgs that offer products or services that aim to fulfill the same wants/needs of the same customers as the company's offering Collaborators (5 Cs) ANS-External business entities that work with the company to create value for customers Context (5 Cs) ANS-The environment in which the company operates and its associated elements What does PESTEL stand for? ANS-Political Economic Sociocultural