Marketing Challenges and Solutions in a Digital World
The Difference between Digital Marketing and Marketing in a Digital World
The main argument of the Guest Lecture in Zurich by Prof. Paulo Albuquerque was that if digital tools are to be successfully used, they must be a building block of a marketing strategy, and not just a tactical instrument.
To do so, managers can implemented integrated value loops, where digital technologies pull in information from consumers to the marketing strategy, which, once defined, is then pushed to consumers using the same or other digital technologies. The session covered in detail two examples of companies that were successful at doing that. First, L’Oreal was able to successfully launch Wild Ombré by connecting digital marketing tools, such as social media and vloggers, to all stages of the consumer journey. Second, Telenor was able to develop the entry marketing strategy to the new category of mobile banking in Serbia with the use of new digital technologies such as location-based marketing and virtual reality. Based on the discussed concepts and examples, the discussion moved to the generalization of findings and learnings with three strategic elements and four tactical factors that result from the increasing influence of digital and next-generation technologies on the development of marketing strategies.
Prof. Albuquerque’s lecture combined theoretical knowledge with practical findings, engaged the audience in a short digital survey about their own companies and demonstrated how digital marketing is not the same as marketing in a digital world. From beginners, conservatives and fashionistas to digital experts (digirati): the audience left the Guest Lecture with a new set of tools and ideas for their own businesses.
Event: Guest Lecture "Marketing Challenges and Solutions in a Digital World"
Speaker: Prof. Dr. Paulo Albuquerque, Associate Professor of Marketing at INSEAD and Professor of Strategic Marketing and Marketing Management at Rochester-Bern
Date: Tuesday, August 21, 2018
Location: Marriott Hotel, Neumühlequai 42, 8006 Zürich