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18LLP123 – Digital Technologies for Market Analysis

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Introduction
As an entrepreneur, assuming that I am contemplating to launch a new business where I would
first use Digital Marketing to give me the essential leads. Digital Marketing has become one of
the most important marketing systems of the in the current world. This market uses digital
technologies such as internet, mobile phones, display advertisement and other digital medium for
marketing products or services. Specifically, digital marketing methods such as search engine
optimization, search engine marketing, e-mail direct marketing, advertising technology as well as
non-internet channels etc. are the most important methods of digital marketing. According to
Eddie Tang J.E. et al. 2001, (Journal of Electronic Commerce Research) “Internet marketing for
digital products and services is one of the most significant developments in the information
systems industry” (Wang, Tang & Tang, 2001). Therefore, digital marketing plays an active role
to work with masses and it generate better marketing connection, most of the cases this is
beneficial for minor and medium level businesses. Scope of the digital marketing is immense.
Because Digital platforms like the search engines, online adds, videos etc. use to reach to
essential customers.

Social Media Network Analysis


With the new millennia came a world of social media and instant communication. Marketing
could not be far behind. Of all the social media sites out the Twitter seems to have the strongest
marketing potential. Where Facebook requires friendship requests and confirmations twitter
only requires an individual to “follow” someone. Powerful leaders like Ashton Kutcher, for
instance, have four million followers (Pride & Ferrell, 2012). This powerful tool for
communication with so many people is certainly a tool that should not be overlooked as a digital
Marketing Tool. Twitter allows companies to communicate with their customers instantly and
give them updates on service availability of product and potential sales. It is inexpensive to run
and gives the company direct contact with the market of interest.

By giving customers inside information about products, sales and availably of their
products, businesses deepen the relationship between themselves and the customer. Giving
special deals to their followers gives the customer a special status that is bound to improve
customer loyalty. Of course, there are pitfalls to any technique. Twitter’ strength can be its
greatest weakness as well. Because the information is immediate there is a danger of erroneous
or embarrassing information being linked to the company (Kingsnorth, 2016).

Twitter is a very powerful tool and once the particular product is identified, the next step is to
launch the product using some web technology. Web design is referred to the process of creating
websites and comprises different sections such as web page outline, content as well as graphic
design. A good web design entails more than an aesthetically pleasing appearance (Ryan, 2016).
Hiring web programmers is always advisable for a starter as they guide and suggest crucial
insights in the web world. Web designers articulate that there are basically 5 critical points to
consider while creating a useful site (Frick & Eyler-Werve, 2015).

An efficient web design should be precise rather than being over-designed. When a web design is
specific, it has fewer elements hence less distracting to visitors but serves it mandated purposes
(Ryan, 2016). In this relation, a web design should be based on creativity and natural talent.
Secondly, it is critical for the web design to be aesthetic appealing thus accessible by the right
users. Every web designer has a particular audience who serves as the specific market segment
and commonly referred as target customers (Ryan, 2016). Thirdly, it is important for the web
design to be respectful, honest and engaging since the site has a great impact on communication
of the organization and the customers. Moreover, a web design should be created with the
underlying aim for usability and functionality to attain a precise, easy and ultimate path of
conversations (Ryan, 2016). Lastly, it is critical for the design to be cohesive and down to the
specifics.

Understanding the critical element of a web design is an important course since one can easily
comprehend rules and regulation of creating a web design. Therefore, it is crucial for a web
developer to follow instructions, use imageries and icons to communicate as well as embrace
utilization of colors not for decoration but to support the content. One of the sites that draw my
attention in the book is e-Marketer as it offers information, analysis, and statistics on the digital
marketing platform. The e-Marketer book highlights the importance of social media and digital
marketing strategy. If there is a ship without a rudder, then it can’t ride. It is same as the business
without a digital strategy. Above statement refers that if businesses don’t have a digital strategy,
they don’t have a direction or a path. The importance of social media is that it helps “to develop
a digital marketing optimization strategy that increases the contribution of web analytics to
organizations and requires careful consideration of how commercial value is generated through
web analytics now and into the future” (D. Chaffey and M. Patron, 2012).

Companies or organizations which have digital strategies needed to refresh it since the world
changes from time to time and people are more innovative. If an organization has a stronger
digital strategy, then it permits that organization to go to its target customers effectively by using
the social media platforms as per the preference. It can be twitter, Facebook or even Instagram.
A group of the internet users are only mobile-internet users. Various online engagement methods
are used in a successful digital strategy. They are used from promotional emails, social media
channels, applications management to blogs and web sites.

Next vital advantage of a digital strategy consists of analytics, and it is one of the most required
ability to create precise goals & objectives and keep track of the improvement as organizations
seek to reach it. In real world, this describes finding out the customers and finding out their
requirements. Social media feedback tools are used to get the full picture since it plays an
important role. Every organization’s target is to find out a most descriptive figure of the
organization’s client, by considering client age, his/her interests, current job, married or not and
others. If the company knows that details, then the company can target on them. But continuous
attention requires in digital marketing to grab the customers. It is must-thing to reply to all the
messages and questions by providing most appropriate answers, responses made to as numerous
likes and tweets as possible, and, crucially, it is must to be prepared to engage by commenting,
putting tweets, sharing them and by putting likes. In addition to that, professional feedbacks
should be given in a proficient manner (Kingsnorth, 2016).

Advanced Technologies for Market Analysis


As we move into the digital era, we are seeing the customers spending time on big digital
platforms like Twitter and Facebook. They are increasingly using the Google Search. On these
key platforms one can actually find the customer with the help of advanced technologies and one
ca really address them. So the businesses know who they are reaching and they can continue that
connection with the same person across these different platforms. So this addressability across
platforms is really going to revolutionize what we can do as marketing. And we're going to see
addressability in a lot of areas, perhaps even in television. In a way we have that already in You
Tube. As Jon Steinberg, president of BuzzFeed reported that people may never buy television,
meaning traditional linear television as an advertiser. One would never buy TV when one can
buy You Tube as one can really address the same customers. If we know that the person who is
seeing my television ad is that same person who visited my site last week, et cetera, then we
know what has to be done and this is where we start seeing addressable retail. This is possible
with the help of advanced addressable technologies. As we have new technologies, like beacon
technologies that allow us to see where customers are going within a physical retail space so we
are able to direct our offer messages and discounts in the right direction. We can interact with
them as they move through a different physical environment. And we may even start to see
product addressability. As technologies, like 3D printing, are applied by companies, we can see
new products and companies coming up like New Balance who started experimenting with 3D
printing the bottom layer of a shoe. Thus, with the help of addressable technologies, that final
layer at the bottom of the sole is actually customized to the customer’s particular body
mechanics and the way that they walk and stand. This is a big breakthrough in the technology
and an ultimate case of customer focus. This is the ultimate direction where the companies
should be moving with the help of advance technologies (McMurtry & Hiam, 2017).

The second trend is what is known as techno-diversity. Now in the biological world and
ecosystems of our natural world there's a lot of concern today about maintaining biodiversity and
that biodiversity may be declining over time or is declining. But in the technology world, we're
actually seeing the opposite trend. The diversity of technologies that are available and in
existence and usage continues to grow and multiply over time. And part of this is because
although we sometimes imagine that the new technologies-- it's in with the new and out with the
old, they're going to displace them-- that typically doesn't happen. For instance, we know a
television did not kill the radio. And a lot of technologies that we assume will pass away, they
don't really die.

It is is a really interesting model if we finally see the use of artificial intelligence. It's not so
much about displacing always people from their jobs. But really advancing what a human and an
artificial intelligence together can do that was not possible before. We are already starting to see
this with IBM Watson, for example. Their program that was developed to play Jeopardy and is
now being used using in language learning systems in medicine, particularly in cancer treatment
and diagnosis. This is just a powerful tool that they have access to. So the doctor sees the patients
and takes the patients history. Even the tablet computer is accessing Watson. It is reading
millions of case histories and making a statistical judgment of what might be the most likely
diagnoses for this patient. But the final decision is with the doctor who's actually interacting with
this patient and drawing on their own history. The same intelligence system can be used in
digital marketing and product evaluation. We can use histories in an Artificial intelligence
system and come out with the best product offering where we may be quite sure that it would
succeed in the market (McMurtry & Hiam, 2017).

Conclusion
I began this task with the assumption that I am an entrepreneur, contemplating to launch a new
business where I would first use Digital Marketing to give me the essential leads. The use of
digital marketing was highlighted and how the companies have made use of social media and
advanced technologies to come-up with the products that would really succeed in the market. It
was also highlighted that how the advanced technologies like beacon technologies can be used in
assessing the customers. The ultimate example was also given as to how the technologies can
help in adopting the complete customer focus. Finally a description was given about the
Artificial intelligence and how it is being successfully used in many domains for prediction. It
was suggested that this can even be used in digital marketing and one may predict some products
that have the high probability of success.

References
Frick, T., & Eyler-Werve, K. (2015). Return on engagement: Content strategy and web design
techniques for digital marketing. Burlington, Mass. Focal Press.

Kingsnorth, S. (2016). Digital marketing strategy: An integrated approach to online marketing.

McMurtry, J. M., & Hiam, A. (2017). Marketing

Pride, W. M., & Ferrell, O. (2012). Marketing. Australia: South-Western Cengage Learning.

Ryan, D. (2016). Understanding digital marketing: marketing strategies for engaging the digital

generation. Kogan Page Publishers.


Wang, Y. S., Tang, T. I., & Tang, J. T. E. (2001). An instrument for measuring customer
satisfaction toward web sites that market digital products and services. J. Electron. Commerce
Res., 2(3), 89-102.

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