A common method of assessing a firm's macro-environment is via a PESTLE (Political, Economic, Social, Technological, Legal, Ecological) analysis. Within a PESTLE analysis, a firm would analyze national political issues, culture and climate, key macroeconomic conditions, health and indicators (such as economic growth, inflation, unemployment, etc.), social trends/attitudes, and the nature of technology's impact on its society and the business processes within the society. [8]
From a model-building perspective, the 4 Ps has attracted a number of criticisms. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (general and informative communications such as public relations and corporate communications) and "promotion" (persuasive communications such as advertising and direct selling). Certain marketing activities, such as personal selling, may be classified as either promotion or as part of the place (i.e., distribution) element.[47] Some pricing tactics, such as promotional pricing, can be classified as price variables or promotional variables and, therefore, also exhibit some overlap. What is Digital Marketing?
The vision and mission address the second central question, 'Where are we going?' At the conclusion of the research and analysis stage, the firm will typically review its vision statement, mission statement and, if necessary, devise a new vision and mission for the outlook period. At this stage, the firm will also devise a generic competitive strategy as the basis for maintaining a sustainable competitive advantage for the forthcoming planning period.
From a model-building perspective, the 4 Ps has attracted a number of criticisms. Well-designed models should exhibit clearly defined categories that are mutually exclusive, with no overlap. Yet, the 4 Ps model has extensive overlapping problems. Several authors stress the hybrid nature of the fourth P, mentioning the presence of two important dimensions, "communication" (general and informative communications such as public relations and corporate communications) and "promotion" (persuasive communications such as advertising and direct selling). Certain marketing activities, such as personal selling, may be classified as either promotion or as part of the place (i.e., distribution) element.[47] Some pricing tactics, such as promotional pricing, can be classified as price variables or promotional variables and, therefore, also exhibit some overlap.

The kind of content you create depends on your audience's needs at different stages in the buyer's journey. You should start by creating buyer personas (use these free templates, or try makemypersona.com) to identify what your audience's goals and challenges are in relation to your business. On a basic level, your online content should aim to help them meet these goals, and overcome their challenges.
To cease opportunity, the firm should summarize their current customers' personas and purchase journey from this they are able to deduce their digital marketing capability. This means they need to form a clear picture of where they are currently and how many resources they can allocate for their digital marketing strategy i.e. labour, time etc. By summarizing the purchase journey, they can also recognise gaps and growth for future marketing opportunities that will either meet objectives or propose new objectives and increase profit.
Developing competitive strategy requires significant judgement and is based on a deep understanding of the firm's current situation, its past history and its operating environment. No heuristics have yet been developed to assist strategists choose the optimal strategic direction. Nevertheless, some researchers and scholars have sought to classify broad groups of strategy approaches that might serve as broad frameworks for thinking about suitable choices.
Using Dr Dave Chaffey's approach, the digital marketing planning (DMP) has three main stages: Opportunity, Strategy and Action. He suggests that any business looking to implement a successful digital marketing strategy must structure their plan by looking at opportunity, strategy and action. This generic strategic approach often has phases of situation review, goal setting, strategy formulation, resource allocation and monitoring.[76]
A firm employing a product orientation is mainly concerned with the quality of its product. A product orientation is based on the assumption that all things being equal, consumers will purchase products of superior quality. The approach is most effective when the firm has deep insights into customer needs and desires as derived from research or intuition and understands consumer's quality expectations and price consumers are willing to pay. Although the product orientation has largely been supplanted by the marketing orientation, firms practicing a product orientation can still be found in haute couture and arts marketing.[32][33]
According to Porter, these strategies are mutually exclusive and the firm must select one approach to the exclusion of all others.[70] Firms that try to be all things to all people can present a confused market position which ultimately leads to below average returns. Any ambiguity about the firm's approach is a recipe for "strategic mediocrity" and any firm that tries to pursue two approaches simultaneously is said to be "stuck in the middle" and destined for failure.[71]
Digital marketing activity is still growing across the world according to the headline global marketing index. A study published in September 2018, found that global outlays on digital marketing tactics are approaching $100 billion.[49] Digital media continues to rapidly grow; while the marketing budgets are expanding, traditional media is declining (World Economics, 2015).[50] Digital media helps brands reach consumers to engage with their product or service in a personalised way. Five areas, which are outlined as current industry practices that are often ineffective are prioritizing clicks, balancing search and display, understanding mobiles, targeting, viewability, brand safety and invalid traffic, and cross-platform measurement (Whiteside, 2016).[51] Why these practices are ineffective and some ways around making these aspects effective are discussed surrounding the following points.

It is important for a firm to reach out to consumers and create a two-way communication model, as digital marketing allows consumers to give back feed back to the firm on a community based site or straight directly to the firm via email.[70] Firms should seek this long term communication relationship by using multiple forms of channels and using promotional strategies related to their target consumer as well as word-of mouth marketing.[70]
If your company is business-to-business (B2B), your digital marketing efforts are likely to be centered around online lead generation, with the end goal being for someone to speak to a salesperson. For that reason, the role of your marketing strategy is to attract and convert the highest quality leads for your salespeople via your website and supporting digital channels.
Many companies opt for this marketing technique to boost their sales. People get drawn towards the businesses which are working for a cause. They feel good knowing that their money is being used for a good cause. Therefore, there is no harm to opt for this strategy which benefits you as well as the community. To do this, you need to get into a partnership with a charity organization.
This refers to how the product gets to the customer; the distribution channels and intermediaries such as wholesalers and retailers who enable customers to access products or services in a convenient manner. This third P has also sometimes been called Place or Placement, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales. [44] 5 Digital Marketing Skills to Master for 2020 & Beyond
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