This article discusses the concept of digital network marketing and its benefits for small organizations. It also explores the stakeholders involved and the marketing strategies used in this concept.
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Marketing Management and Digital CommunicationP a g e|1 Contents Digital Network Marketing..........................................................................................................................2 Concerned Stakeholders..............................................................................................................................2 Marketing Strategies...................................................................................................................................3 References...................................................................................................................................................4
Marketing Management and Digital CommunicationP a g e|2 Digital Network Marketing In today modern world digital marketing is a new millennial. Rather than promoting service and products in traditional way like print or electronic media, organization are shifting its interest in digital media. As consumer is more aware, more connected and more empowered to engage in their terms, businesses have to use new digital marketing platforms to get connected with its customer. This platform allows them to build strong network through which they can build their business and brand image. This benefits both small and big business. Here we will discuss the digital networking marketing and how it helps its stakeholders(Stroud, 2008). Marketing is gaining popularity these days viz. Digital Network Marketing , it is a strategy where people join hands together in order form groups or chain to market or to guide each other to make profits.. The given concept is gaining popularity in the current time because it offers great opportunity to startups or small organizations(Rogers et al., 2018). Here people of same skills make group and be socially connected to help each other or to have healthy discussions with each other. They remain connected with each other through digital platform based entirely for this. Formal meetings and exchange or cards are out of fashion. Today’s generation feels more comfortable in casual meetings or online meets. There they share they thought and look out for each other when required. Digital Network marketing helps the company to grow and expand as it reaches out to people in short span of time.The cost of the promotion is less so the overall promotion goes down (Morris, 2009). This method is very beneficial for small organization as it’s save time and money of the company in promoting their product or/and services. It’s getting promoted through word of mouth of their consumers or their reviews posted on various social media(Faisal, 2016). Concerned Stakeholders Stakeholder to a company refers to all those persons who are affected by the policies and day to day working of a business concern. Digital Network marketing as a concept focuses on the growth of all the stakeholders namely Company, Marketers, Investors, Government and Society as a whole. As far as marketers are concerned, they tend to be directly affected by the digital networking concept. Marketers use digital networking as a tool to generate sales as well as to share the goals of the organization with the prospective investors in order to increase the task force, which ultimately helps them grow their payout.
Marketing Management and Digital CommunicationP a g e|3 Government as a stakeholder is not directly affected to the chores of business, but keeps a check on the working of the digital network organizations so as to protect the rights of the prospective consumers or users. The modern day digital networking helps the consumer to get all the information regarding the company and its product to make better choice of purchasing. Society as a whole is also affected by the networking as it creates ample of opportunities for the marketers and consumers to spread out far and wide thereby creating a healthy environment to share ideas without any hesitation of the peers. Its not simple networking but connected to mentor, to coach to inspire the community. Marketing Strategies To promote any product and services best suited strategy for marketing is marketing mix. Both price place and promotion will be done after identifies the place i.e, social network sp people are also targeting in all. Digital Network marketing has helped the marketers to implement free flow of ideas from one another and at the same time has created a professional business environment. It offers multifold returns which has attracted the prospective investors to invest their money and time in various digital networking platforms. Young entrepreneurs are nowadays working hard in order to form network groups thereby promoting the growth of the company. Therefore it is adequate to say that Digital Network marketing as a concept has hit the modern day business world with great force, as per our outlook it has penetrated deep in the marketing world and will enjoy the same position in coming years as well. The company who wins its consumer in the digital world is the business of tomorrow(Mu, Thomas, Peng & Di Benedetto, 2017).
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Marketing Management and Digital CommunicationP a g e|4 References Faisal, A. (2016). Marketing Strategies in Online/Digital Marketing.Account And Financial Management Journal. doi: 10.18535/afmj/v1i8.01 Morris, N. (2009). Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation.Journal Of Direct, Data And Digital Marketing Practice,10(4), 384-387. doi: 10.1057/dddmp.2009.7 Mu, J., Thomas, E., Peng, G., & Di Benedetto, A. (2017). Strategic orientation and new product development performance: The role of networking capability and networking ability.Industrial Marketing Management,64, 187-201. doi: 10.1016/j.indmarman.2016.09.007 Rogers, C., Tupper, H., Rogers, C., Tesseras, L., Rogers, C., & Woollen, P. et al. (2018). The new networking: How marketers connect in 2018. Retrieved from https://www.marketingweek.com/2018/11/28/new-networking-marketers/ Stroud, D. (2008). Social networking: An age-neutral commodity — Social networking becomes a mature web application.Journal Of Direct, Data And Digital Marketing Practice,9(3), 278-292. doi: 10.1057/palgrave.dddmp.4350099