Welcome to Marketing in a Digital World.
Thank you for participating in this course.
I'd like to begin by providing an overview of the course,
where we are going, and what you will learn.
First, let's discuss what this course will not cover.
This is not an E-commerce class.
We will not examine social media analytics,
search engine optimization,
or other digital marketing tactics.
The other courses in our digital marketing specialization
will cover these topics in great detail.
This course will be broader in scope and
focus on how digital tools such as the Internet,
smart phones, and 3D printers
are changing the marketing landscape.
In essence, these tools are shifting the balance of
power from firms to consumers.
We will examine these tools,
introduce some new concepts,
and tell some stories about how both firms and
consumers are adapting to this changing landscape.
This course consists of four modules.
Each module will explore one key foundation marketing
and examine how this foundation has been
altered by these digital tools.
In Module 1, we'll examine how digital tools are enabling
customers to co-create the products
and brands that they consume.
We call this our product module.
In Module 2, we'll focus on how
these tools are changing the way that products
are being promoted and the role of users
in generating content for these promotional activities.
Hence this is our promotion module.
In Module 3, we'll take a look at the digitization of
product distribution and the changing nature
of the retail landscape.
We call this our placement module.
Finally, in Module 4,
we'll examine new digital enabled tools
and techniques that are helping
customers take more control over
the price they pay for the products that they buy.
This is our price module.
We'll examine each of
these four modules using
a variety of learning modalities,
including video lectures, case studies,
hands-on exercises, and interviews
with both students and faculty.
The student interviews are discussions with
the students here at the University of Illinois.
We ask these members of the Internet generation how they
currently use digital tools to navigate the marketplace.
We call this feature views from the quad.
The faculty interviews are discussions with
some of our world-class faculty
here at the University of Illinois.
These faculty are doing cutting
edge research on the next generation of digital tools.
We call this feature campus spotlight.
By engaging in these various learning activities,
you will increase your appreciation
for how the foundations of marketing
are being reshaped and
shifting to fit our new digital world.
More specifically, there are
four key lessons that I hope you
take away from this course.
First of all, marketing is a process of
value exchange that is
facilitated by the Four P's: product,
promotion, placement, and price.
Second, the tools employed
in enacting the Four P's are increasingly
becoming digital and are being
democratized across a large number of consumers.
Third, this digitization and
democratization is shifting the balance of
power from firms to consumers.
Finally, as a result,
firms are losing control over the marketing mix,
and consumers are taking
a more active and expansive role
across these various marketing activities.
Finally, I hope this course will provide
a firm foundation for the rest
of the courses in our specialization.
Are you read? Great. Let's get started.