Southeast Missouri State University, MK555
Assignment 1
60 POINTS (UG)/ 47.5 POINTS (G)
1. How does technology change traditional marketing? Describe the important Internet properties that affect marketing. b) What are the key elements of Web 2.0? c) What are the key elements of Web 3.0? As a consumer who is in control, what would you like to see for the future Web 3.0?
Over the period technology has changed the way marketing is done as reaching to the customers is becoming easier and easier, some of the key changes from traditional are:
· Experience based marketing is taking off as with start of technology it is very easy to reach customers to communicate the value preposition, hence firms are trying get an edge through creating better experience
· Segmentation up to the individual level, as technology allows us to connect to the customers individually.
· Marketing now includes the two-way communication, i.e. with technology the voice of customer has become a key part in marketing campaigns. Moreover, marketing now tends to create more word of mouth as social media can really multiply the results you can have.
· Some more changes are listed below.
The key properties of internet and their effect of marketing is as follows:
· Increasing user generated content: Lesser control over brand image to marketer, as there are plenty of blogs kind of user generated content.
· Operation form anywhere: This property has killed the rule of distance of marketing. Now you can serve a market sitting anywhere in the world.
· Pin-pointed connectivity: This feature allow marketer to contact up to the individual, hence making it easier to target to smaller groups with more specific products.
· Information availability: Since the information is easily available worldwide, marketers on one hand are not required to educate the customer much and on other hand must be very specific about the correctness of whatever they say, as it can easily be cross checked.
· Traceability and feedback: As the activities on internet becomes easily traceable, you can easily judge the performance of your marketing campaigns and correct path based on data not on guts.
The key elements of web 2.0 are:
· Experience more focused on users.
· Two-way communications, i.e. more content from users.
· Bring in business having long tail, ex: A software outsourcing which is charged on monthly basis
· Active participation of user in various activities, and hence more involvement.
· Larger options of share, reusing the content available, which was not the case before web 2.0
· Folksonomy: Free Classification of Information
The key elements of web 3.0 are:
· Ubiquity increases the use of various devices various platforms has helped develop an ecosystem where the matter is accessible by multiple applications and on multiple channels.
· Artificial Intelligence is mainly pertaining to developing tools which can work like humans having human like or even better intelligence. This is mainly done by join...
