"5 Hilarious Branded Videos," www.imediaconnection.com April 14, 2010 http://www.imediaconnection.com/content/26494.asp
An objective of many firms using social media is to build brand awareness and its unique selling proposition. The goal is to have your branded video go viral. Here are five examples of branded videos (with the actual videos) including GEICO, Old Spice and Heineken among others that went viral. These can be discussed in Lamb, Hair, and McDaniel's Marketing 11e pages 577-581 and pages 273-276 in MKTG4.
Questions:
1. Do you think that branded videos are an effective promotional tool?
2. How does a firm create a branded video that will go "viral?"
Thursday, April 22, 2010
Socially Responsibe Companies
"Ten Companies With Social Responsibility at the Core," Advertising Age, April19, 2010. http://adage.com/cmostrategy/article?article_id=143323
The article demonstrates how companies can create a strategy which advances goodwill while simultaneously building a sustainable and profitable business. In addition to the usual examples such as GE and Whole foods, the article discusses Pedigree dog food, The Body Sop, and Burt's Bees among others. This article can be discussed in Lamb, Hair, and McDaniel's Marketing 11e pages 86-98 and pages 34-36 in MKTG4.
Questions
1. Some say that the only responsibility of a firm is to make a profit. Would you agree? Why?
2. If a firm has decided to help a particular group but isn't sure which one, how might it go about selecting a target for its efforts?
The article demonstrates how companies can create a strategy which advances goodwill while simultaneously building a sustainable and profitable business. In addition to the usual examples such as GE and Whole foods, the article discusses Pedigree dog food, The Body Sop, and Burt's Bees among others. This article can be discussed in Lamb, Hair, and McDaniel's Marketing 11e pages 86-98 and pages 34-36 in MKTG4.
Questions
1. Some say that the only responsibility of a firm is to make a profit. Would you agree? Why?
2. If a firm has decided to help a particular group but isn't sure which one, how might it go about selecting a target for its efforts?
Monday, April 19, 2010
Costco Cracks Taiwan Market
Article: "Costco Cracks Taiwan Market," Wall Street Journal, April 2, 2010, page, B5.
http://online.wsj.com/article/SB20001424052702303395904575157910930303400.html
Costco is building sales globally by tailoring its merchandise to local tastes. The new Taiwan store carries Tide detergent and Pepperidge Farm cookies but with flavors such as sea cucumber. It also carries mahjong sets and stewed beef noodle soup. This article can be discussed in Lamb, Hair and McDaniel's Marketing 11e, page 167 and page 65 in MKTG4.
Questions:
1. One might think that selling fish and beef is pretty much the same everywhere. Yet, Costco does it differently in Taiwan. Explain what those differences are and why it is important to customers.
2. Consumers in Taiwan are not use to paying a membership fee. Explain how Costco overcomes this problem.
http://online.wsj.com/article/SB20001424052702303395904575157910930303400.html
Costco is building sales globally by tailoring its merchandise to local tastes. The new Taiwan store carries Tide detergent and Pepperidge Farm cookies but with flavors such as sea cucumber. It also carries mahjong sets and stewed beef noodle soup. This article can be discussed in Lamb, Hair and McDaniel's Marketing 11e, page 167 and page 65 in MKTG4.
Questions:
1. One might think that selling fish and beef is pretty much the same everywhere. Yet, Costco does it differently in Taiwan. Explain what those differences are and why it is important to customers.
2. Consumers in Taiwan are not use to paying a membership fee. Explain how Costco overcomes this problem.
Understanding how Social Media fits into IMC
For the many students that don't understand how the various social media fit into IMC this chart is great! It can be used in conjuction with chapter 17, page 566 of Lamb, Hair and McDaniel's Marketing 11e and page 267 in MKTG4.
Here it is:
http://www.cmo.com/social-media/cmos-guide-social-media-landscape?cmpid=Q1TT2010
Here it is:
http://www.cmo.com/social-media/cmos-guide-social-media-landscape?cmpid=Q1TT2010
Gen X and Y Will Lead Economic Recovery
Article: "Gen X and Y Will Lead Economic Recovery." www.mediabuyerplanner.com, April 4, 2010. http://www.mediabuyerplanner.com/entry/50153/gen-x-and-y-will-lead-economic-recovery/?utm_campaign=newsletter&utm_source=wmd&utm_medium=textlink
Economic recoveries have been lead by Baby Boomers for the past 20 years. Now, however, Baby Boomers must save and rebuild their nest eggs for current and future retirement. America will be lead out of the Great Recession by Gen Xers and Gen Yers. This article can be discussed in LHM Marketing 11e, pages 111-115 and pages 41-47 of MKTG4.
Questions:
1. Why will Gen Xers be the group that primarily leads the US out of the Great Recession?
2. Why are demographics a critical aspect of any economic recovery?
Economic recoveries have been lead by Baby Boomers for the past 20 years. Now, however, Baby Boomers must save and rebuild their nest eggs for current and future retirement. America will be lead out of the Great Recession by Gen Xers and Gen Yers. This article can be discussed in LHM Marketing 11e, pages 111-115 and pages 41-47 of MKTG4.
Questions:
1. Why will Gen Xers be the group that primarily leads the US out of the Great Recession?
2. Why are demographics a critical aspect of any economic recovery?
Internet Paid Searches
Blog: Paid Search and Social Media: Can They be Friends?" from www.searchengineland.com, April 12, 2010.
http://searchengineland.com/paid-search-social-media-can-they-be-friends-39524?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+searchengineland+%28Search+Engine+Land%29
Social media are used to create an active dialogue with customers. The main goal is building brand value and secondly driving sales. The goal of paid search is to drive sales, leads, and conversions. The two can be brought together by creating social content that attracts an engaged audience. Marketers can then craft targeted paid search campaigns to capture this audience and make them buyers. This blog can be discussed in LHM Marketing 11e, pages 538-539 and pages 258-259 of MKTG4.
Questions;
1. How can a marketer adjust paid search campaign based upon social media trends?
2. Does strong brand awareness drive search?
http://searchengineland.com/paid-search-social-media-can-they-be-friends-39524?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+searchengineland+%28Search+Engine+Land%29
Social media are used to create an active dialogue with customers. The main goal is building brand value and secondly driving sales. The goal of paid search is to drive sales, leads, and conversions. The two can be brought together by creating social content that attracts an engaged audience. Marketers can then craft targeted paid search campaigns to capture this audience and make them buyers. This blog can be discussed in LHM Marketing 11e, pages 538-539 and pages 258-259 of MKTG4.
Questions;
1. How can a marketer adjust paid search campaign based upon social media trends?
2. Does strong brand awareness drive search?
The Challenges with Social Media
Article: "Unilever boss admits to challenges with social media." from International Marketers Blog, April 13, 2010.
http://blog.freedmaninternational.com/unilever-boss-admits-to-challenges-with-social-media/2965/
The blog discusses the frustrations of trying to cope with social media when building a promotional strategy. This blog can be discussed in Lamb, Hair and McDaniel's Marketing 11e pages 530-534 and pages 251-252 of MKTG4.
Questions:
1. Why do you think many traditional marketers are having difficulty understanding the marketing implications of social media?
2. The author says that Unilever has "no idea" of the value of paid advertising on Facebook. How can value of promotion on Facebook be determined?
http://blog.freedmaninternational.com/unilever-boss-admits-to-challenges-with-social-media/2965/
The blog discusses the frustrations of trying to cope with social media when building a promotional strategy. This blog can be discussed in Lamb, Hair and McDaniel's Marketing 11e pages 530-534 and pages 251-252 of MKTG4.
Questions:
1. Why do you think many traditional marketers are having difficulty understanding the marketing implications of social media?
2. The author says that Unilever has "no idea" of the value of paid advertising on Facebook. How can value of promotion on Facebook be determined?
Marketing Research at Domino's
This article shows how marketing research can be used to monitor customer opinions and then improve product quality. It is: "Scathing research feedback guides Domino's makeover." http://www.quirks.com/articles/2010/20100309.aspx?searchID=71114086&sort=7&pg=1
Domino's pizza was described as bland and middle of the road in consumer research. Using this information the company has completely revamped its pizzas. This article can be used in ch 9 pages 294-298 of Lamb, Hair and McDaniels Marketing 11e and pages 123-127 of MKTG4.
Questions:
1. What other ways can firms use marketing research to guide their decision making?
2. Should top management always approve the objectives of a marketing research study? If not, then who?
Domino's pizza was described as bland and middle of the road in consumer research. Using this information the company has completely revamped its pizzas. This article can be used in ch 9 pages 294-298 of Lamb, Hair and McDaniels Marketing 11e and pages 123-127 of MKTG4.
Questions:
1. What other ways can firms use marketing research to guide their decision making?
2. Should top management always approve the objectives of a marketing research study? If not, then who?
The Impact of Mobile Phones
Here is an article dealing with the impact of technology: Mobile Phones:the epicenter of all things business and personal." http://www.quirks.com/articles/2010/20100310.aspx?searchID=71112116&sort=7&pg=1 . The research is based upon 8000 cell phone owners to learn how people are using these devices, which features they don't use or use, and how they feel about them. The article can be discussed in chapter 4, pages 124-126 of Lamb, Hair and McDaniel's Marketing 11e and pages 47-48 of MKTG4.
Questions:
1. Cell phones have changed the lives of consumers and have had a profound impact on marketing. Explain this impact.
2. How can marketers use cell phone apps to drive customer patronage and satisfaction?
Questions:
1. Cell phones have changed the lives of consumers and have had a profound impact on marketing. Explain this impact.
2. How can marketers use cell phone apps to drive customer patronage and satisfaction?
New Product Survey
The article is Joseph Rydholm, "New Product Survey Plumbs Consumer Mind Sets" http://www.quirks.com/articles/2010/20100308.aspx?searchID=71109355&sort=5&pg=1
This article illustrates how a consumers environment can alter alter attitudes toward brands and product categories. The research is based upon 50,000 interviews and shows for example, the impact of the recent recession on attitudes towards the environment and health. This article can be discussed while covering pages 222-224 in Lamb, Hair, and McDaniel's Marketing 11e and pages 92-94 of MKTG4.
Questions:
1. What are some of the environmental factors that can change consumers beliefs and attitudes?
2. How can businesses change consumers beliefs and attitudes about their products?
This article illustrates how a consumers environment can alter alter attitudes toward brands and product categories. The research is based upon 50,000 interviews and shows for example, the impact of the recent recession on attitudes towards the environment and health. This article can be discussed while covering pages 222-224 in Lamb, Hair, and McDaniel's Marketing 11e and pages 92-94 of MKTG4.
Questions:
1. What are some of the environmental factors that can change consumers beliefs and attitudes?
2. How can businesses change consumers beliefs and attitudes about their products?
Thursday, April 1, 2010
Social Media
Social Media Marketing has created a lot of consternation as marketers come to grips with how best to use sites such as Facebook and Twitter. This YouTube video touts the benefits of social media as a marketing tool while dismissing traditional marketing communication channels.
http://www.youtube.com/watch?v=gza8dvN8Hkc
Despite the growing divide between social media and other forms of marketing, several of the top marketing firms are still finding uses for both traditional and social media marketing approaches. This video can be uded to begin a classroom discussion on the role of new media for communicating with customers. Use this in conjunction with Chapter 17 in Marketing 11e and MKTG4.
http://www.youtube.com/watch?v=gza8dvN8Hkc
Despite the growing divide between social media and other forms of marketing, several of the top marketing firms are still finding uses for both traditional and social media marketing approaches. This video can be uded to begin a classroom discussion on the role of new media for communicating with customers. Use this in conjunction with Chapter 17 in Marketing 11e and MKTG4.
Co-Branding
Macy's Inc. announced that it will brand its credit cards with American Express, ending the retailer's branding deal with Visa. The new cards will continue to support the Macy's Star Rewards and Bloomingdale's Insider loyalty programs.
http://www.reuters.com/article/idCNN3119847320100331?rpc=44
This is a current example of cobranding as discussed on pages 345 and 346 of Lamb/Hair/McDaniel Marketing 11e and page 159 of MKTG4.
http://www.reuters.com/article/idCNN3119847320100331?rpc=44
This is a current example of cobranding as discussed on pages 345 and 346 of Lamb/Hair/McDaniel Marketing 11e and page 159 of MKTG4.
New Tools for Online Surveys
Article: "Survey Says: New Tools Aim To Insure The Integrity Of Online Surveys." by Douglas Quenqua http://www.marketingpower.com/ResourceLibrary/Publications/MarketingNews/2009/43/11_30_09/Online%20Research.pdf
New methodologies are being developed to confirm the integrity of online panels. These include: ensuring that respondents are who they say they are, that they are engaged in the survey, and that they aren't being counted more than once. This article can be discussed on pages 316-319 of Lamb, Hair and McDaniel's Marketing 11e and pages 146-150 of MKTG4.
Questions:
1. Do you think that it is more difficult to maintain the integrity of online research as compared to other forms of survey research?
2. Do you think that social networks would make a good sample population for building an online research panel?
New methodologies are being developed to confirm the integrity of online panels. These include: ensuring that respondents are who they say they are, that they are engaged in the survey, and that they aren't being counted more than once. This article can be discussed on pages 316-319 of Lamb, Hair and McDaniel's Marketing 11e and pages 146-150 of MKTG4.
Questions:
1. Do you think that it is more difficult to maintain the integrity of online research as compared to other forms of survey research?
2. Do you think that social networks would make a good sample population for building an online research panel?
Strategies to Capitalize on Purchasing Behavior
Article: "Paths to Purchase" by Fred Geyer Marketing Management Spring 2010 http://www.marketingpower.com/ResourceLibrary/MarketingManagement/Pages/2010/1/Paths_to_Purchase.aspx
The amount and type of information search prior to purchase depends upon the category of product sought by the consumer. Consumers spend a considerable amount of time on the Internet when considering the purchase of durable goods. Yet major brands such as Canon, Sharp and Dirt Devil do little more on their Web sites than provide product photos and text captions to help consumers review options and compare alternatives. Marketers must tailor strategies to category purchasing dynamics. This article can be discussed in conjunction with Lamb, Hair and McDaniel's Marketing 11e, pages 193-201 and pages 75-78 in MKTG4.
Questions:
1. What does the author mean by 'paths to purchase?" Why is it critical to understand this concept?
2. Give examples of habitual, discovered, delegated, and considered products as defined in the article. Explain how the paths to purchase might differ for each.
The amount and type of information search prior to purchase depends upon the category of product sought by the consumer. Consumers spend a considerable amount of time on the Internet when considering the purchase of durable goods. Yet major brands such as Canon, Sharp and Dirt Devil do little more on their Web sites than provide product photos and text captions to help consumers review options and compare alternatives. Marketers must tailor strategies to category purchasing dynamics. This article can be discussed in conjunction with Lamb, Hair and McDaniel's Marketing 11e, pages 193-201 and pages 75-78 in MKTG4.
Questions:
1. What does the author mean by 'paths to purchase?" Why is it critical to understand this concept?
2. Give examples of habitual, discovered, delegated, and considered products as defined in the article. Explain how the paths to purchase might differ for each.
Drug Makers Decry Indian Patent Law
From the Wall Street Journal 2/12/2010 "Drug Makers Decry Indian Patent Law." http://online.wsj.com/article/SB10001424052748703455804575057621354459804.html
Multinational drug firms have pushed into India based upon the country agreeing to respect international property rights. Yet, India's patent office and courts have repeatedly declined to defend patents widely accepted in other countries. This article can be discussed in conjunction with Marketing 11e, pages 153-154 and pages 59-60 in MKTG4.
Questions:
1. By not honoring patents for expensive drugs, isn't India helping the many poor people in the country? Are there long run ramifications?
2. If the multinationals cannot protect their intellectual property rights should they pull out of India?
Multinational drug firms have pushed into India based upon the country agreeing to respect international property rights. Yet, India's patent office and courts have repeatedly declined to defend patents widely accepted in other countries. This article can be discussed in conjunction with Marketing 11e, pages 153-154 and pages 59-60 in MKTG4.
Questions:
1. By not honoring patents for expensive drugs, isn't India helping the many poor people in the country? Are there long run ramifications?
2. If the multinationals cannot protect their intellectual property rights should they pull out of India?
The Shifting African-American Population
Chapter 4 "Report Shows A Shifting African-American population." Brandweek 1/11/2010. http://www.brandweek.com/bw/content_display/news-and-features/direct/e3i0bdeb9f8495547e186fb9f8d0316930f
There are now about 50 million Hispanics and 42 million African Americans in the U.S. Although there are fewer blacks, the population is changing in ways that make such consumers more attractive to marketers. For example, African-American households making $75,000 plus have increased 47 percent in the past five years. This article can be discussed in conjunction with Marketing 11e, pages 117-118 and pages 44-45 in MKTG4.
Questions:
1. By 2015, about half of the black population will live in the suburbs. Peter Franches, founder of American Demographics, says that cultural differences will disappear as African Americans migrate to the suburbs. Do you agree? does this mean that there should be a single marketing mix for everyone living in the suburbs?
2. Do you think that firms should alter their marketing mixes for each major ethnic group? Why?
There are now about 50 million Hispanics and 42 million African Americans in the U.S. Although there are fewer blacks, the population is changing in ways that make such consumers more attractive to marketers. For example, African-American households making $75,000 plus have increased 47 percent in the past five years. This article can be discussed in conjunction with Marketing 11e, pages 117-118 and pages 44-45 in MKTG4.
Questions:
1. By 2015, about half of the black population will live in the suburbs. Peter Franches, founder of American Demographics, says that cultural differences will disappear as African Americans migrate to the suburbs. Do you agree? does this mean that there should be a single marketing mix for everyone living in the suburbs?
2. Do you think that firms should alter their marketing mixes for each major ethnic group? Why?
Ben Franklin, Where Are You?
This is from Bloomberg Businessweek 12/26/2009 & 1/4/2010 entitled: "Ben Franklin, Where Are You?" http://www.businessweek.com/magazine/content/09_52/b4161029131864.htm
In 2009, non-Americans were granted more US patents than resident inventors. This can be discussed in Marketing 11e, pages 124-126 and pages 47-48 in MKTG4.
Questions:
1. Why is innovation so important for American firms?
2. Many countries have cut taxes to stimulate investments in labs and equipment. The U.S.ranks only 17th in tax credits to spur research and development. Comment.
In 2009, non-Americans were granted more US patents than resident inventors. This can be discussed in Marketing 11e, pages 124-126 and pages 47-48 in MKTG4.
Questions:
1. Why is innovation so important for American firms?
2. Many countries have cut taxes to stimulate investments in labs and equipment. The U.S.ranks only 17th in tax credits to spur research and development. Comment.
Why Doing Good Is Good For Business
For ch 3: Fortune 2/8/2010 "Why Doing Good Is Good For Business." http://money.cnn.com/2010/02/01/news/companies/dov_seidman_lrn.fortune/
Dov Seidman is the hottest advisor on the corporate circuit. His job is to teach executives how to "outbehave" the competition. He claims that the rise of information technology has made good behavior more important because it has become increasingly hard to hide bad behavior. This article can be discussed in conjunction with LHM Marketing 11e, chapter 3, pages 78-84 and pages 32-34 in MKTG4.
Questions:
1. To paraphrase Genghis Kahn, isn't business about crushing competitors, seeing them fall at your feet, and taking their horses? Comment.
2. Can you really measure the impact of good behavior?
Dov Seidman is the hottest advisor on the corporate circuit. His job is to teach executives how to "outbehave" the competition. He claims that the rise of information technology has made good behavior more important because it has become increasingly hard to hide bad behavior. This article can be discussed in conjunction with LHM Marketing 11e, chapter 3, pages 78-84 and pages 32-34 in MKTG4.
Questions:
1. To paraphrase Genghis Kahn, isn't business about crushing competitors, seeing them fall at your feet, and taking their horses? Comment.
2. Can you really measure the impact of good behavior?
How Are Most Admired Companies Different?
From Fortune, March 22, 2010. "How Are Most Admired Companies Different?" http://money.cnn.com/2010/03/08/news/companies/admired_different.fortune/
Fortune's World's Most Admired Companies all have one thing in common. They believe that people are their most valuable asset. More than half of the companies have been on the list for the past ten years. The link also takes you the list of the 2010 most admired companies. This article can be discussed in conjunction with Lamb, Hair, and McDaniel's Marketing 11e, chapter 3, pages 88-93 and pages 34-36 of MKTG4.
Questions: 1. What is the link, if any, between being an admired company and social responsibility?
2. Apple is the world's most admired company. Would you say they are socially responsible. Go to their web site and see what you can find ab out their social responsibility.
Class project: Assign each student one of the 50 World's Most Admired. Have them go to the company's website and research the firm's social responsible activities. Have them report their findings to the class. Ask them to discuss any particularly unusual or noteworthy findings.
Fortune's World's Most Admired Companies all have one thing in common. They believe that people are their most valuable asset. More than half of the companies have been on the list for the past ten years. The link also takes you the list of the 2010 most admired companies. This article can be discussed in conjunction with Lamb, Hair, and McDaniel's Marketing 11e, chapter 3, pages 88-93 and pages 34-36 of MKTG4.
Questions: 1. What is the link, if any, between being an admired company and social responsibility?
2. Apple is the world's most admired company. Would you say they are socially responsible. Go to their web site and see what you can find ab out their social responsibility.
Class project: Assign each student one of the 50 World's Most Admired. Have them go to the company's website and research the firm's social responsible activities. Have them report their findings to the class. Ask them to discuss any particularly unusual or noteworthy findings.
Monitoring customer opinions to improve product quality
This article shows how marketing research can be used to monitor customer opinions and then improve product quality. It is: "Scathing research feedback guides Domino's makeover." http://www.quirks.com/articles/2010/20100309.aspx?searchID=71114086&sort=7&pg=1. Domino's pizza was described as bland and middle of the road in consumer research. Using this information the company has completely revamped its pizzas. This article can be used in ch 9 pages 294-298 of Marketing 11e and page 136 of MKTG4 .
Questions:
1. What other ways can firms use marketing research to guide their decision making?
2. Should top management always approve the objectives of a marketing research study? If not, then who?
Questions:
1. What other ways can firms use marketing research to guide their decision making?
2. Should top management always approve the objectives of a marketing research study? If not, then who?
Mobile Phones: The epicenter of all things business
Here is an article dealing with the impact of technology: Mobile Phones:the epicenter of all things business and personal." http://www.quirks.com/articles/2010/20100310.aspx?searchID=71112116&sort=7&pg=1. The research is based upon 8000 cell phone owners to learn how people are using these devices, which features they don't use or use, and how they feel about them. The article can be discussed in chapter 4, pages 124-126 of Marketing 11e and pages 47-48 of MKTG4.
Questions:
1. Cell phones have changed the lives of consumers and have had a profound impact on marketing. Explain this impact.
2. How can marketers use cell phone apps to drive customer patronage and satisfaction?
Questions:
1. Cell phones have changed the lives of consumers and have had a profound impact on marketing. Explain this impact.
2. How can marketers use cell phone apps to drive customer patronage and satisfaction?
The article is Joseph Rydholm, "New Product Survey Plumbs Consumer Mind Sets"
http://www.quirks.com/articles/2010/20100308.aspx?searchID=71109355&sort=5&pg=1
This article illustrates how a consumers environment can alter alter attitudes toward brands and product categories. The research is based upon 50,000 interviews and shows for example, the impact of the recent recession on attitudes towards the environment and health. This article can be discussed while covering pages 222-224 in Marketing 11e and pages 95-96 in MKTG4.
Questions:
1. What are some of the environmental factors that can change consumers beliefs and attitudes?
2. How can businesses change consumers beliefs and attitudes about their products?
This article illustrates how a consumers environment can alter alter attitudes toward brands and product categories. The research is based upon 50,000 interviews and shows for example, the impact of the recent recession on attitudes towards the environment and health. This article can be discussed while covering pages 222-224 in Marketing 11e and pages 95-96 in MKTG4.
Questions:
1. What are some of the environmental factors that can change consumers beliefs and attitudes?
2. How can businesses change consumers beliefs and attitudes about their products?
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