Digital Marketing Dec Exam 2022 Batch Assignment

1.) Compare and contrast qualitative & quantitative research methods, Question 1.

Introduction:
Research is a major tool used to increase and brush-up the knowledge about something. Qualitative
and quantitative research are two complementary methods that can be combined in your survey to get
results that are wide reaching and deep. different data collection methods. How in first place do we
generate an interest / brand awareness for a product in consumers? The answer is marketing and the
practice has deep roots into our history. There are studies in which scholars proving effective marketing
practices which went on even during 15 th century Eg: Pieter Atersen’s Famous Market scene paintings etc.
From all this we are now in the age where an innocent destination search on a google can end us up with
electronic ads or content on holiday packages or flight/ hotel availabilities at that destination.

Competitive spirit is inherent with every human and will always be the integral factor differentiating
successful entrepreneurs from those who failed. They are the one who rightly understood the need of
marketing and how to extract value from it by applying right technique at right time.

Concept and Application:

So, let me differentiate between the traditional marketing (TM) / Modern marketing (MM)
strategies available in market and eventually suggest one methodology to Innowe Track it brand team to
adapt. The focus should be of course on type of consumers and Type of product.

1.) Interactivity:
TM – Product choices and marketing templates are fixed to the consumers irrespective of what
they actually need. Focus is on what company wants to convey and not what customer desire.
MM – Backed with huge user analytics data from digital media the model is revised precisely to
consumer end. Most of the times the channels for specific segments communicates each other to
maintain an optimum level of data transparency creating a healthy digital eco system for effective
marketing.
2.) Engagement:
TM – Once marketing activity is performed and concluded further to that it’s tough to analyse the
impact it has actually created in market.
MM – Every click and data entry of consumers are converted into digital records for effective
tracking.
The effect is long term and creates path for continuous improvement.
3.) Agility:
TM - The marketing medium is physical and hence limited flexibility leading to more time-
consuming activity.
MM – No physical interaction until actual product delivery and multiple choices of devices to reach
out with consumer.
4.) Conversions:
TM - The sole intention is to sell goods and make profit, a lack of sustainable business plan
MM – Enabling a clear sales forecast plan to management and easy to understand actual
consumption pattern.
5.) Personalization:
TM – Similar to lack of interactivity aspect, the medium and channel pays little attention to the
consumer end requirement. Hence the actual market penetration level would be comparatively
low.
MM – Supreme flexibility on modifying customer offerings and giving the feel to customer they are
getting unique value propositions from vendor.
6.) Brand Imagery:
Digital Marketing Dec Exam 2022 Batch Assignment
TM – Hardly any diversity left in the medium as it’s extensively done in all possible ways and
anything unique and catching to build is tough.
MM – Backed with technology, every day new marketing techniques are introduced into the
market. Thus, a strong unique value proposition backed with right image could be fed into target
consumers.

7.) Social Involvement:

TM – Over dependency on physical medium and thus limit on interacting with the everyday
increasing online consumers.
MM – Whether it’s a simple email campaign or to a full-fledged AI backed consumer behaviour
monitored E-Commerce level pushing the choices are wide, Eventually the reachability is nonpareil.

Right Marketing strategy for Inno-We Track It Brand:

The subject product is one of the popular everyday used general digital products after mobile
phone. This definitely calls for a modern marketing campaign just because of the new outlook
consumer group which would be inclined to this product. The differentiation with TM and why MM
reasons as below:
a.) Let’s put in simple words as Analogue watch era needed a TM Technique and Smart interfacing
digital watch needs MM.
b.) The consumers for smart watch brands would mostly be GenZ or early millennials group whom
are the most active in online medias.
c.) Unlike TM, using digital watch features eg: data upload to cloud can enable a constant feedback
and usage reports from users to Inno-we. This in turn could be used for further MM.
d.) Online community creation for Track it brand consumers, whom could share their stories like
daily health targets achieved or live weather updates etc.
e.) The Track it brands value awareness needs to be created in consumers by showing interactive
digital ads or videos or feeds, for these digital effects TM won’t be the right choice and it has its
limitations.
f.) For a technology product its always best to have a technology backing for all its stages because
of the instant connectivity it will create to the similar mindset onlooking consumers. Imagine
the irony if we are marketing virtual reality interface products over paper pamphlets.

Conclusion:
Have we ever imagined that even the simple wearables will eventually become smart products with
multiple sensors and internet connectivity. Innovation paves for the future and it stands true for the
cornerstone skills like marketing too. As Inno-we itself stands or have a vision about themselves to become
a frontrunner in Technology oriented new products folio, the approach in their marketing shall also be up
to the current age. By collecting data, customizing user experiences and thus enabling consumer desires to
an optimum level by tracking their activities, I strongly believe Track it brand has a long way to go in market
if they could also adapt the right modern marketing techniques too in their strategic market planning.
Digital Marketing Dec Exam 2022 Batch Assignment

2.) Answer to Digital business factors impacting business strategy of Innowe, Question
2.
Introduction:
Will strategy management soon become an aging principle with the convergence of technology in
every management process cycle? No, because Strategic management is a bedrock skillset which is integral
to the growth of an organization. The focus should be to understand how the business strategy should
align and make use of the everyday evolving digital advents. With the prelim inputs from frameworks like
ASCOR, management will pave path for the digital transformation with core focus on two elements which
are People and Structure orientation.

Concept and application:

Inno-we as we know is a relentless pacesetter by upbringing constant variations in their existing models
and always driving business to the current market trend. Let’s understand how below digital factors will
affect Inno-we business strategy.
1. Stake Holder-driven Factors:
a.) Customer is integral: If in traditional way Innowe needed 100 Rs to acquire a new customer and
with digital approach this could be reduced to 90 Rs then it is regarded as winning strategy for a
sustainable growth rather than evaluating merely on per year revenue growth.
b.) Funding Driven: Funds received need to be invested in research & development for identifying
further innovative approaches and in such a way that gradually reducing the degree of fund
requirement after each cycle.
Eg: Creating a cloud-based data repository system rather than conventional hardware server
models, once general product awareness on Track it and Hearnow is created in market slowly
shutdown the traditional marketing units and completely switch to digital media for substantial
cost saving process.
c.) Gestation Period: We know the new age digital giants or Saas service providers was initially not
profitable business and later once they have acquired their strong customer base, they have
strategized it to monetize step by step. Innowe shall also give enough time in market so as to
identify them as a strong digital product solution vendor for watches and earbuds before
focusing on profitability.

2. Market Driven Factors:

a.) Product to Process: The business relation shall not just end after selling the product. Apple have
an App Music app in their mobile, Once the user bought an iphone there are chances that in
future he/she may subscribe for Apple music. Track it watches needs to have an online interface
where the user could monitor their activities on a dashboard and later Inno we could offer some
AI analytical model on those data and optionally charge the user for a derived output from
those data. Eg: Based on user’s sleep cycle recommend a new morning activity / exercise plan
etc.
b.) Where to grow: It’s not necessary that growth always needs to be expanded over different
domain’s, it can be any domain but the focus shall be on the right segmentation and
identification of core customers. In Innowe case it’s not necessary Hear now shall only be
promoted to customers who are music lovers, the earbuds shall be innovated in such away that
it can also be effectively used by audio book listeners too.
Digital Marketing Dec Exam 2022 Batch Assignment
c.) Technology: I am presuming Innowe as an already matured technology solution-oriented
manufacturer, So the vision shall always be to effectively use technology to create technological
outputs to their users rather than only using innovative concepts to finally deliver conventional
outputs. Here Innowe shall phase Track it product path plan to slowly evolve it from as a smart
watch brand to a health tracking added smart watch brand thus bringing more technological
backed value to consumers.
3. Customer Driven Factors:
a.) Experience Driven offerings: If innovation cannot bring a new user experience to its customers,
then it’s of no value. If Innowe could offer a Dolby sound experience with their Hear Now
earbuds products or Track it could offer a rugged IP68 for the whole watch unit then it of course
stands out in market.
b.) Marketing methodology: The major consumers for Innowe products would be mostly in Gen Y
or Gen Z and both of these consumers category regularly interacts with online media and value
the input from it. So, the marketing techniques needs to be more immersive than mass media
marketing to create a personalized experience to consumers.
Eg: Track it recommending their ear buds model based on the music genre a user likes.
c.) Interconnected consumer group: Similar minded consumers form a community and the
members would also probably have similar needs for which should be targeted by marketing
team.
Eg: From marketing intelligence, If Innowe understood Hear now is a moving product in Gym
going users as their workout gadget then Hear now needs to be interlaced with other
interconnected fitness oriented groups for capturing more customers in that segment.

4. Competitor Driven Factors:

a.) Access share: Sometimes number alone cannot indicate the current market share. It’s the
access or persuasive power the firm have to their consumers to know how likely they would
make another purchase or recommend the products to others. Track it brand having a live
interactive online social group which share’s their daily activities or health achievements etc.
These kinds of initiatives itself generate value rather than static consumers who are not
accessible to Inno we after initial purchase.
b.) Cross interface partnership driven: The potential consumers are scattered around various digital
platforms. Focusing on a single medium will yield less than a wide arrayed approach. Inno we
should think of slowly interlinking their market model of Track it and hear now under one
umbrella and thus creating a larger footprint within different digital platforms.
c.) Services as a value offering: Unique value propositions often come in the mode of services
rather than just a product. Track it smart watch could be added with audio tracks and same
could be easily paired with Hear now ear buds. One tap on smart watch could pause and play
ear buds. The tracks which user hears are analysed by Inno we software over internet and later
recommends new artists to hear. Thus, the product eventually became a solution with different
services it provides and creates immense value to consumer.

Conclusion:
To better understand your digital environment and to adapt with rapidly changing business conditions
digital strategists pave their foundation based on accounting each porter’s five forces. With digital
evolution the same process could be progressed in a faster and partnership-oriented method to yield
better results. To scale and transform to prepare and adapt with digital cultural change is essential for
sustainable growth of any organization. This idea is even more critical to innovative solution organizations
like Innowe where every day could root and offer a new model to the future proof digital age market.
Digital Marketing Dec Exam 2022 Batch Assignment

3.a) Answer on ways to promote Track it brand online, Question 3a.

Introduction:
What is the primary function which smart watch customers expect from the product? The question is
relevant because of the wide functionalities which it could offer other than mere time telling. The
consumer perspective for smart watch is moving towards as a fashion gadget or a status symbol. Here Inno
We should have a clear market intelligence before engaging with customers and using the REAN
framework marketing funnel stages for promotion.

Concept and application:

Let me elaborate major promotional channels across REAN frameworks funnel stages Reach, Engage and
activate.
1.) Reach: The objective of Innowe should be to create awareness about Track it as a smart watch brand
into the market and be in watchlist of onlooking customers
a.) Inno We should make sure Track it brand should be in the top 5 links when a consumer search for
“smart watch” in major online search engines.
b.) There shall be huge visibility to Track it by giving numerous ads, short videos, other podcasts etc
routing to proper display marketing.
c.) Collect and gather up potential consumer’s contact card and draft a straight to content email/Sms.
Circulate the message to all the recipients with a personal touch and follow it up.
d.) Partner with external websites, Eg : Track it needs to be marketed for its wellness tracking features
in health and fitness websites for a certain commission.
e.) Facebook / Instagram / Twitter Create active groups and communities. Assign an employee for
proper media handling all these social media activities.

2.) Engage: It’s time for people to interact with the reach efforts which Inno we have put earlier. The
interactions need to be carefully followed up to convert as prospective sales in later stages.
a.) Create content on smart watch’s features, value additions and upcoming functionalities over various
online medias like playbook’s, blogs, playbooks, conducting regular webinars etc.
b.) Understand how public perceive about smartwatches and align your strategy accordingly in
newsletters, magazine’s etc.
c.) As I earlier said focus on one unique feature of track it watches and create specialized content
based on it in related websites or other medias.
d.) All what we need is a fire which will create an organic pull in market and shortcut to create this is to
become the marketing content viral. Eg: An adventurer wearing track it smartwatch and performing
some unique dangerous acts video which in turn becoming viral in media.
e.) A campaign which gives prizes for first 100 track it watches customers who completes and tracks 1
lac steps wearing the watch.

3.) Activate: With all the above done, what Inno we needs is desirable sell off output.
a.) Release promo codes, trial smart watch use experience or special discounts for the potential
customers who have interacted in one of the earlier actions and shown interest in Engage stage.
Digital Marketing Dec Exam 2022 Batch Assignment
b.) Interconnected social media platform network usage, Eg: In fitness podcasts share track it purchases
link to attract some consumers who might have noticed for its health tracking functionalities earlier.
c.) Identify consumers who have put track it watches in their Wishlist or in cart of E-commerce
websites, retarget them again with more ads and links to trigger a purchase action.
d.) Create an automated bot service to follow up and trigger consumer purchase who have self-
registered in engage stage for a response-oriented marketing.
e.) Identify customers who have bought running shoes in recent past and send direct promotional
ads / message of track it watches to them with more focus on marketing its health tracking
capabilities.

Conclusion:
In any digital communication the key advantage is the flexibility of customization and time to pitch in
with the customers. In addition to above methodologies Inno we shall also wisely choose the right time
and event to market track it to their customers. A successful campaign with a lot of successful click stories
will eventually create a profitable growth to Track it brand. Last but not least the key advantage of digital
marketing from traditional marketing is the way it could analyze post purchase consumer behaviour, in
order to help this Inno we shall proactively note down consumer feedback after each promotional event
stages.
Digital Marketing Dec Exam 2022 Batch Assignment

3.B) Answer to explain various digital pricing models and suggest one for Track it ,
Question 3B
Introduction:
Can a business sustain without making profit? No, right So does that mean the company shall always
keep sales price much larger than its cost? Or is their any formula to determine what should be the right
price to be kept every time. The term “Pricing model” focus on this crucial matter in which the
management needs to align their priorities with respect to long term business goals and strategically fix
final price on their products/ services.

Concept & Application:

Wit the advent of numerous digital tools and techniques, the concept of pricing model has changed a
lot in recent past. Below are the common pricing model techniques used in digital market:
a.) Comparative pricing: This is purely competitive pricing strategy in which all market players will use
the available information to set and compete each other. In digital marketing the availability of data
is so huge and the one who derive a meaningful analytical output from existing data will have an
edge over another.
Eg: Redmi vs Xaomi Phones pricing in E commerce sites.
b.) Ad supported model: For our simple clicks here and their in-web platforms are generating revenue
for some organizations irrespective of our buying decision on the end content where we browsed.
The business is b2b model where contents and ads are posted online for dynamic commission
model for specific business promotion.
Eg: Ad Words.
c.) Subscription Model: Time is of essence here, A customer who have an idea for the time frame
he/she may use a certain product or service will be able to effectively get used to this pricing
model. A person who knows he and his family will be out of station for 2 months in this year
deciding whether he should renew his DTH subscription annually or monthly. The pricing model
creates a package for the consumer based on fixe timeframes.
d.) Pay per Content / Use Model: Very convenient offering model to end customers in which
customers can choose exactly what they want and pay only for that. As simple as that it’s so flexible
which is very prevalent service model business offering in online.
Eg : Resume template choosing websites where customers can pick a certain template from the
library and pay only for that.
e.) Auction type: Similar to physical auctioning, in online platforms a seller can post their
product/service offering for a base value and will eventually be provided to the highest bidder.
Eg: Olx, Ebay etc.
f.) Last minute pricing: The flexibility in online market in which the seller can increase or decrease the
price of product/service dynamically based on ongoing information updates will come under this
category. Factors could be demand, available stock, another competitor similar product sold out
etc.
Eg: Common in E commerce websites like amazon, flip kart etc.
g.) Customised pricing / Cart based pricing: Bundling up with other products, giving unique discount
to regular customers and creating special value to them.
Digital Marketing Dec Exam 2022 Batch Assignment
Eg: When a consumer about to buy a laptop and during check out optionally adding a mice along
with it.

Pricing model Suggestion for Track It Smart Watches:

I would suggest comparative pricing model when Track it watches sold only as watch units, because
this will allow Inno we to compare with other players in market and place accordingly after analysis.

But for the digital services Track it band offers to the consumers; I suggest Pay per content/ use
model.
Eg : Health report which track it can generate provide to users based on their daily activity or
calendar management and giving reminders etc.

Conclusion:
A cost of a click is a strategic and in-depth concept in online platforms. The current era has
already started using AI algorithms and will depend more on these models to effective tackle the manual
challenges in pricing. The inputs to those bots will be the concepts which we have discussed earlier fed as
machine language. Thus, the innovative pricing models generate better monetization factor for the same
usage and eventually become an independent value driver for their customers.

THANK YOU.