Digital Market and Digital Goods
Digital market: In simplistic terms, the digital market is the selling of products or brands via one or more forms of electronic media. Digital market differs from a traditional market in that it involves the use of channels and methods that enable an organization to analyze marketing campaigns and understand what is working and what isn’t – typically in real time.
Digital marketers monitor things like what is being viewed, how often and for how long, sales conversions, what content works and doesn’t work, etc. While the Internet is, perhaps, the channel most closely associated with digital marketing, others include wireless text messaging, mobile instant messaging, mobile apps, podcasts, electronic billboards, digital television and radio channels, etc.
Digital goods: Digital goods or e-goods are intangible goods that exist in digital form. Digital goods are goods that can be delivered over a digital network. Examples include digital media, such as e-books, downloadable music, internet television and streaming media; fonts and graphics; digital subscriptions; online ads (as purchased by the advertiser); internet coupons; electronic tickets; online casino tokens; electronically financial instruments; downloadable software and mobile apps; cloud-based applications and online games; and virtual goods used within the virtual of online games and communities.
Music tracks, video, Hollywood movies, software, newspapers, magazines, and books can all be expressed, stored, delivered, and sold as purely digital products. Special legal concerns regarding digital goods include copyright infringement and taxation.