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Showing posts from September, 2018

Week 5 - The Advantages of Standard and Digital Marketing

With the Internet growing in use at an exponential rate, more and more companies are realizing the amount of opportunities that present itself through the Internet. For example, a major benefit that companies have by using the Internet for Digital Marketing is that they are able to market on a much larger scale compared to that which would be capable by only using Standard Marketing. Through the use of Digital Marketing, corporations are able to increase the amount of advertising that would otherwise be impossible to achieve through Standard Marketing alone. It is also possible to direct those advertisements to specific groups of people who are interested in a certain product by using the information that the Internet collects and holds about the websites people visit, their search results, etc. Digital Marketing has grown with the Internet over the many years and is steadily becoming the best way to communicate with customers. A single company could reach out to thousands of p...

Week 5 - How The Internet Knows More About You Than You May Think

Over the past few decades, the Internet has grown exponentially. The amount of advancements and improvements has driven the Internet to become, arguably, the greatest invention of the 20th century. The Internet was first theorized to be a network of networks, however, in the recent years it has evolved into an enormous knowledge bank for pretty much anything. Through the use of the Internet, it seems that anything could become possible. Although, with that kind of immense power, I feel as though there ought to be more regulations on the Internet. As it stands, through regular use of the Internet, many corporations are collecting information about you. All the websites you visit, the videos you watch, and even the questions that you ask search engines, are all being recorded and analysed. But what is this all for? What are the possible gains that these corporations have and why are they beneficial in the long run? One of the many possible gains that comes from analyzing this inf...

Week 4 - Why Customer Lifetime Value is Important For Any Business

Customer Lifetime Value is essentially how much a customer is worth over the total amount of time that the customer shops at that certain company. Customer Lifetime Value, or CLV for short, is used in Marketing to determine not only customer worth, but also to determine the amount of company resources necessary to generate new and maintain the current customer population. Companies who have a relationship with their customers fit together like a puzzle piece. I believe it to be necessary that all companies use CLV because it helps to increase profitability by increasing revenues, despite also increasing the expenses that come along with increased advertising, and other expenses related with providing a product or service. Companies who use CLV in deciding the amount of resources to invest are generally more profitable and tend to maintain customers over a longer period of time by using targeted advertising and offering discounts to customers who have been shopping with them for a...

Week 3 - Why People Pay More For The Same Product That Was Produced By A Different Company

There are many different companies who specialize in producing different products. However, many companies have similarities in their products. For example, Intel and AMD both produce Central Processing Units or CPUs, however, the prices of these items differ significantly. Intel CPUs are, on average, more expensive than AMD CPUs. This could be the result of a multitude of reasons. One reason Intel CPUs are more expensive than AMD could possibly be because that more people know and trust Intel to produce a strong yet reliable CPU to power their computer. Due to Intel's marketing strategies and individual development over the years, they have built themselves up to be a sturdy driving force in producing quality content for their customers. Despite Intel seemingly running a monopoly on CPUs, AMD has still come into its own by releasing CPUs that challenge Intel. There are many strengths that AMD has over Intel in terms of producing CPUs. For example, the biggest reason why some p...