COMM 464

Social Media Marketing in 3 Minutes

After watching the above video on Annie’s blog, I am excited to share similar contents/materials the IBC (International Business Conference) speakers talked about in regards to social media in today’s businesses

Social media is a marketing “tool” used in websites, such as facebook, twitter, blogs, online forums, etc.  It is the lever to give and recive messages through an onging e-commerce conversation.  It’s a mean to develop trust with consumers and build  long term relationship.  Social media mainly serves on a B2C (business to consumers) basis, reaching out to the ultimate consumers.

One interesting fact Nancy Richardson, the Lululemon athletica innovation director, brought up was that, the ads on facebook has induced an average of $4.58 cents in revenue for Lululemon, which is beyond the  research finding of $3.00.

Social media only acts as a force, thus only a small percentage should be concentrated toward ads on facebook.  In other words, face to face interaction is still crucial, as real business happens with real voice conversation, hand shaking, and real connection with people.  To emphasize again, social media only acts as a tool, which should never be measured as a replacement over live communication.  In this manner, Lululemon utilized facebook as a tool in understanding the market trend, but would never use these information for redesign purpose or product innovation.  Lululemon believes in giving real experience to consumers while in store, not through an “earned channel”, but via “own branded channel”.

Mini on YouTube

After watching the Mini Countryman film, I was extremely impressed with the fun lifestyle that the film was showing.  The film takes me on a journey of cheerful, amusing, and enjoyable life.  It is clear that this company is using the value-based era marketing toward building a long-term relationship with customers by offering benefits of great life experience.  This Mini Countryman’s outstanding pitch is attractive in stating, “Life is out there.  Go live it”.  Hence, the company is clear on their marketing tactic that they are not only offering a product for transportation, but also providing a fun social life.  This is the social value added on consumer’s experiment when travelling city to city.

After seeing these fruit designed ads WMF used in advertising their kitchenware products, I am  interested in understanding the marketing aspect of this company.  WMF is known for functional quality goods, such as the knives shown above, which look sharp, shiny, and powerful.  The company has been in business over 150 years since 1853, and is a “supplier of branded products for meeting the highest demands manufactured based on design, quality, and utility” worldwide.  From this statement, the company’s goal is clear toward a profit maximization orientation.  WMF is looking to earn money from a smaller volume of customers, such as affordable high incomer, or value oriented customers who selectively purchase durable quality products for long term use.  The profit objective defined for WMF is to increases price as much as they can to maximizes profit or return until marginal revenue reaches marginal cost.  The higher the price, the better the quality, and since WMF is a world brand known for their quality, they must be delivering prestige product.  If customers are looking for luxury goods, then they would consider consuming WMF products even during recession, thus these consumers are less price sensitive and less elastic to find substitutes.

From our daily experience, consumers don’t buy kitchenware products everyday, because it’s not a tangible commodity like grocery where we must consume for a living.  However, the fruit pictures depicted above, are systematic in a way that we don’t have to eat pineapple, carrot, or melon for survial, but they are necessary for our health.  In similar manner, the ads are conveying a message that you don’t have to buy quality kitchenware, but with WMF’s products, it’s the only approach for cooking tasty food.  In this case, WMF is using the product growth strategy of market development, becacuse they wish to introduce their exisitng kitcenware products to a new market segment.  The pictures are portrayed with some sexual content and added family warmth.  WMF is positioning the values of having fun, enjoyment, and coziness, so customers trust them for delivering quality products.

paranormal_activity_2_trailer

Paranormal Activity has been positioned as a scary movie when Paranormal Activity 1 was initially introduced in 2009.  This Halloween I had a chance to watch this movie in theater. Paranormal Activity 2 is definitely a “line extension” where the producer sees good response and wish to generate even more revenue by introducing the already existing line. The reason Hollywood is able to grow this line extension is the strength, equality, and value in the brand of Paranormal Activity. This is not just a movie, it also offers an assortment of t-shirts, long sleeves, hats, and posters. They develop the product mix of apparels because Hollywood want to grow their profit by diversifying revenue from different places. Also, they might want to target different market segment, such that some people might be frightened to watch the movie, but love to posses some accessories.

After reading an article about a “Home Based Business Mom Earns $8795/Month Part Time” http://www.ultranews23.com/business/2010-live73/, I was excited to learn more about the Online Income Generator http://www.profitsmultiple.com/. This website homepage clearly captures my attention in understanding their STP (Segmentation Targeting, and Positioning) in just 1 page.

Segmentation: The young couple, the house, the car, and the beach photographs are distinctly the segment base combination of geographic and demographic base.  The joy, cheerful life, and relax living is the added perceived value demonstrated at the psychographic base of the variable needs/motive, attitude, and lifestyle.

Targeting: The targeting strategy this business looks at, is the segment of just married couples who wish to make money working at home, defined as a differentiated market. These people could enjoy a more flexible work time, and can spend more time at home with their children while earning more than enough money to sustain a family.

Positioning: This business is claiming a unique space, in identifying the evaluative criteria for the segment of the just married couple who

• enjoys the freedom of being your own boss – product
• make real money in your spare time – place
• limitless earnings potential with NO experience required – price
• thousands of people like you and making money right now – promotion

Hello fellow Comm 296 students, I have something very different for this week’s marketing blog, I’ve created a brochure for my potential advertising company.Enjoy!

Who are we?

1. We are the coordinators of this venue.
2. We set things in motion.
3. We get people together.
4. We negotiate contracts.
5. We make the connection happen.
6. We are responsible for you!

Only YOU

Can enjoy our awesome service.

Business?

Dingle Jingle is in the commercial advertising marketplace, wherein we make connections between our client base, and the appropriate vehicle for advertising their products.

We seek clients wishing to advertise their product through multi media connections.  Our goal is to quickly connect our clients with the proper advertising venue which would ultimately increase their sales for their particular product line.  Whether it’s an idea, a service, or an item, we will find a suitable way to market it.  Our service would be included in magazines.  Wherever the opportunity arises, we will make sure that the product or service is highly visual for our client.

Name?

Dingle Jingle is the company’s name.  A Dingle means to phone or contact, and a Jingle is a common term used as an advertising slogan.  The name best suits the enterprise because dingle and jingle inform customers to ‘give us a call’.  Our logo for the company is Dj.  Similar to a disc jockey – an announcer who presents and comments on popular recorded music, particularly on the radio; Dingle Jingle is able to give suggestions for the most appropriate connection for your business to flourish.

Mission Statement?

Advertising is one of the most difficult and cut-throat industries in the marketplace.  It is our intention to represent our client base with integrity by protecting their interests and negotiating the best services for their budget.  Our services are available to legitimate businesses from the smallest entrepreneur to the largest corporation.  Everyone needs to advertise, we are always available to make sure this is successfully accomplished.  We will put you in contact with people who are capable of performing the job.

Pricing?

Dingle Jingle has a pricing strategy that reflects fluidity.  Services will vary, and be dependent on their advertising budget.  We remain flexible to enable our clients to feel comfortable.

Give us a call, we do it all!

The proper connection for the proper product!

At & t is extremely creative in their promotional campaign.  The company utilizes human hands to portrait animals, plants, tower, pepper, and other innovative items.  In each ad drawing, the marketing mix of 4p’s is clearly delivered.  For example, the portrait illustrated above, is a presentation of a Canadian moose from my interpretation.  When associating Canada, we think about maple leaf, and Canadian moose.  Moose is the largest member of the deer family, which symbolizes Canada being one of the largest countries worldwide.  The three hands in sketching the moose signify reaching out from the four corners of the world.  Hence, the sketch conveys the idea that the wireless coverage “works in over 200 countries, like Canada”.  The hand holding the blackberry is clearly the product, and the company adds value to this product by associating moose with Canada.  This gives a patriotic feeling for Canadians to use At & t because it adds value to the product.  In addition, this unique promotion scheme has capture customers to feel a sense of belong and loyalty toward At & t.  As a result, the company has channeled long term relationships with customers, as At & t launch itself into a value based era of marketing.

Known for its ability to successfully deliver innovative products and fashionable designs, Lululemon constantly acquires and maintains loyal, athletic and self-motivated customers.  Lululemon’s athletic clothing line focuses its product in yoga-inspired apparel for mostly women.  The company has expanded its market from the Vancouver market to North America.  Lululemon is also looking into expanding the market into Europe and Asia. Lululemon is quickly going global and increasing profits up to 300% during recession.

Customers use this product for various activities besides practicing yoga; some wear them for dancing, weight training, road racing, and even for social events.  Personal trainer Michelle Cushing noted that she wears Lululemon and estimates 90% of her clientele has switched to Lululemon.  In delivering friendly fitness advice and demonstrating good yoga practices, the factors consumers consider when buying, is the product’s unique design and good quality. This definitely creates loyalty for customers due to its distinct retail approach and value proposition.

Lululemon’s customers believe that its athletic apparel specializes in providing their consumers with products that promote a higher level of fitness and conscious health.  Customers believe that top competitors that are directly competitive with Lululemon include Adidas, Nike, and Under Armor.  Customers would need to decide whether to get atheltic apparel from these firms or Lululemon.

McDonald’s is well known for its fast food industry and good employee training program.  Their target customers range from children to seniors.  Children are thrilled to get happy meals that come along with toys.  Busy adults love the 24-hour drive-through, so they can get their food quick and easy.  Seniors enjoy having coffee and read newspaper to kill time.  Generally, McDonald’s is for everyone, as it is one of the strongest and most recognized brand names in the world.  It’s famous slogan “I’m lovin it”, is heard, seen, and promoted everywhere.  Such successful promotion campaign has lived in our life and culture.  McDonald’s innovative strategy is also structured through its colorful design of the trademark M, which is symbolic of joy, warmth, and excitement.

Recently, McDonald’s newly introduced product line Mcmini, is another tactic to attract both loyal and one time customer.  This zesty mango Mcmini is a manufactured good that differentiate itself from its traditional product line of burgers.  The reason for management to introduce this product is to attract consumers to try new products.  Tasting something like no others, adds value to the product!