Analysis of Digital Marketing Through Artificial Intelligence
ChatGPT Assignment
Assignment Overview: This is intended to be an individual assignment. You are expected to submit and brief write on questions highlighted below in green in not more than 150 words each.
ChatGPT has taken the world by storm but a big concern is its impact on education, authorship, and the potential “dumbing down” of students and professionals alike. OpenAI launched its generative Artificial Intelligence (AI) chatbot service, ChatGPT in November, 2022 and its website receives approximately 13 million visitors per day. From ecstatic user reviews to concerns about copyright, originality, and legitimacy, nearly everyone has an opinion on how AI will impact search queries, papers, articles, as well as works of art including music and images.
Do some external web research to sufficiently answer the questions below under “Assignment Deliverables,” which is a word document.
Background: ChatGPT Video Watch this video to gain a good background on ChatGPT and the immediate impact it is making. https://www(dot)youtube(dot)com/watch?v=pOmpqdlVCoo
Case Questions to Ponder
What do I want to know that ChatGPT might be able to help me with?
What queries should I enter?
What additional information can be “fed” into ChatGPT for more detailed answers?
Based on the responses, are they detailed enough? Would the responses be good enough to use as is? • What is your opinion on submitting work that was derived from generative AI? Should it be cited as a “source” in papers and articles?
Assignment Deliverable: Complete the following:
Submit the questions below or your own questions to ChatGPT.
Copy and paste both the questions and answers into a Word document, Google doc, etc. to submit as an assignment.
Visit this website: https://openai(dot)com/blog/chatgpt/ Click the “TRY CHATGPT” button Create a free account if you do not already have one Enter a query on a business you are interested in (could be a well-known brand or perhaps a type of business you are in interested in starting) that could serve as the subject of a marketing plan or paper Enter your queries and copy and paste the answers (along with your questions) into your word document.
Some example questions include:
“How can I use ChatGPT for marketing? ”
“Can ChatGPT write a marketing plan on ‘____’? ”
“Can ChatGPT give me ideas for marketing ‘_____’? ”
“Competitive analysis for sport shoe market in the US”
“What are the personas of ‘_____’ shoe buyers in the US?”
After the initial round of questions and answers, enter specific information on the subject to help ChatGPT “learn” more, which will help it provide more detailed responses.
For example, for marketing plan info on Apple, enter information about Apple’s sales, market share, profitability, competitors, etc. The more info ChatGPT must learn from, the more detailed the response. Capture the revised questions and answers in your document.
Compare and contrast ChatGPT with what you would write.
What are the benefits of your personal beliefs and experiences in writing a plan or paper?
Analysis of Digital Marketing through Artificial Intelligence
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Analysis of Digital Marketing through Artificial Intelligence
Q.1: Analyze and prepare a Marketing Plan for Walmart.
Ans:
Objective
Target Audience
Key Strategies
Budget Allocation
Timeline
To strengthen brand awareness and increase customer loyalty
Value-conscious consumers, Busy families, Tech-savvy millennials, and Gen Z
Optimize store layouts, Offer personalized shopping assistance, and Implement Targeted Marketing Campaigns
Based on market research and analytics tools, Customer loyalty program enhancements
The marketing plan will be executed over 12 months, with regular evaluations and adjustments based on performance metrics and market dynamics.
Q.2: Analyze Walmart's Performance during the last five years.
Ans: Over the past five years, Walmart has demonstrated consistent growth and maintained its position as one of the world's largest and most successful retailers. From fiscal year 2017 to fiscal year 2022, Walmart's total revenue increased from approximately $485 billion to over $560 billion, reflecting a positive upward trend. Acquiring online retailer Jet.com in 2016 marked a significant milestone in Walmart's digital transformation (Ozbun, 2023). The company has since focused on enhancing its online platform, improving website usability, and expanding its online product assortment. Despite facing challenges in specific markets, such as currency fluctuations and regulatory changes, Walmart's international segment has delivered a solid performance. The company has continued to invest in expanding its global footprint, particularly in emerging markets with growth potential. Walmart's financial performance has remained robust over the past five years. The company has consistently delivered strong profitability, generating solid operating and net income. Efforts to optimize costs, improve supply chain efficiency, and leverage economies of scale have contributed to Walmart's financial success.
Q.3: Examine the Digital Marketing Tactics used by Walmart.
Ans: Walmart has adopted various digital marketing strategies to strengthen its online presence, engage with customers, and drive sales. Walmart has focused on enhancing its e-commerce platform to provide a seamless and user-friendly online shopping experience. The website and mobile app have been optimized for easy navigation, quick product search, and streamlined checkout processes. Continuous improvements in website speed, mobile responsiveness, and overall usability contribute to a positive user experience. Walmart actively engages with customers through social media platforms like Facebook, Instagram, Twitter, and YouTube.
These channels serve as avenues for brand promotion, product launches, customer support, and community building (Walmart, 2023). Walmart leverages social media to share compelling content, run contests and giveaways, and respond to customer inquiries, strengthening brand loyalty and fostering community. Walmart encourages customers to leave reviews and ratings for products purchased on its website. These reviews are crucial in influencing purchase decisions and building trust among online shoppers. Walmart actively monitors and responds to customer reviews, demonstrating its commitment to customer satisfaction and providing valuable insights for product improvements.
Q.4: Comparison of Marketing Plan, Digital Marketing Tactics, and Analysis of Walmart's last five-year Performance?
Overcharging customers prevents Walmart from maximizing profits. To maximize profits, it maintains low ...