Digital technology has changed the landscape of marketing completely. In this module we look at how nonprofit marketing, crowdfunding, supply chain management, retailing and selling have been impacted.
Nonprofit marketers can no longer rely on traditional fundraising efforts. They need to be engaging audiences in the places that supporters are interacting – online!
In nonprofit organisations, marketing is unique in many ways, including the setting of marketing objectives, the selection of target markets, and the development of appropriate marketing mixes. In this module you will learn how to adapt the marketing mix for a nonprofit organisation.
Crowdfunding is a model of microfinance that dates back to the 18th century whereby individuals and organisations seek to finance their ventures by drawing on small contributions from a large number of individuals. The modern-day method for crowdfunding uses the internet. There are four main types of crowdfunding that you will learn about: donations-based, reward-based, peer-to-peer lending and equity.
Supply Chain Management
Companies today have discovered the power of supply chain management and are now using the concepts to create a competitive advantage. Today, supply chain management needs to be completely customer driven, where multiple firms work together to perform tasks as a single, unified system, rather than as several individual companies acting in isolation.
Important players in supply chain management are retailers. Most of the bigger retailers now offer online retailing in addition to their traditional bricks and mortar stores. Because consumers demand convenience, non-store retailing is currently growing faster than in-store retailing. The major forms of non-store retailing which are automatic vending, direct retailing, direct marketing, and electronic retailing.
The traditional process of personal selling has also shifted. Personal selling is the most customer-oriented promotional activity, requiring exceptionally skilled people. Once you know what kind of salespeople you require, you need to make sure you recruit, train and compensate them appropriately. There is an old adage in business that nothing happens until a sale is made. Without sales there is no need for accountants, production workers, or even a CEO. Sales provide the fuel that keeps the engines humming.