This unit critically assesses digital marketing opportunities and challenges from disruptive technology. It covers customer behaviour, digital strategy too
Topic Synopsis
This unit critically assesses digital marketing opportunities and challenges from disruptive technology. It covers customer behaviour, digital strategy tools, multichannel marketing, and measuring performance.
Key Concepts & Core Principles
- Strategic Management: Understanding how organisations formulate, implement, and evaluate cross-functional decisions to achieve long-term objectives, including tools like SWOT analysis, PESTLE, and Porter's Five Forces.
- Financial Decision Making: Mastery of financial statements, budgeting, investment appraisal techniques (NPV, IRR), and working capital management to support strategic goals.
- Marketing Strategy: Developing customer-centric strategies using segmentation, targeting, positioning (STP), and the marketing mix (7Ps) to create competitive advantage.
- Leadership and Change Management: Theories of leadership (transformational, transactional) and models of change (Kotter's 8-step, Lewin's 3-step) to drive organisational transformation.
- Operations and Quality Management: Principles of lean operations, total quality management (TQM), and supply chain optimisation to enhance efficiency and customer satisfaction.
Exam Tips & Revision Strategies
- Use current examples of digital marketing campaigns.
- Critically evaluate rather than just describe.
- Ensure your strategy includes clear KPIs and measurement.
Common Misconceptions & Mistakes to Avoid
- Overlooking ethical considerations in data use.
- Failing to integrate digital with traditional channels.
- Not linking metrics to business objectives.
Examiner Marking Points
- Critically assess the impact of digital transformation on marketing.
- Explain the changing nature of digital customers.
- Analyse tools and techniques for digital marketing strategy.
- Develop digital activities to support multichannel marketing.
- Justify the use of digital innovation to monitor and manage strategy.