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>> 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, smartphones,
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 in marketing
and examine how this foundation is being 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 asked 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
of 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 Ps: Product,
promotion, placement, and price.
Second, the tools employed
in enacting the four Ps 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.
And finally, as a result, firms are losing control
over the marketing mix and consumers are taking
on 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 ready?
Great. Let's get started.