Category: Marketing

This time, we had to discuss the 4 P’s of Marketing: Product, Promotion, Price, and Place. Although in and of themselves, there are practically fields of knowledge we would have to discuss in order to get into each one thoroughly, I’d rather focus on the most important thing about this combination: the overlap that is the target market:

The overlap has een noted in nearly every diagram, but in some, it is curiously absent, instead showing the 4 Ps being answered by the 4 “Solutions”. This  is a fundamental shift in approach the problem; do we tackle the variables, or do we tackle the segment they provide? To most, this might be one and the same fight, how else do you tackle a market without knowing each of the variables, but to me, it represents two very different approaches.

It is not just a question of priorities or influence, its a matter of who matters more; the results, or the functions that act on the data. I personally think that the results are the most important part of the 4P approach; tackling each variable one by one is not just shallow, its risky, but I can see why its more comfortable; scientific even. However, we have to remember that even in science,  it is the results we choose to analyze with our tests, not the tests themselves.

Market segmentation is a situation where humans try to fit other humans into broad categories. I think it must be almost fundamentally human to want to categorize for efficiency; it seems to be the most logical thing to do to approach a problem of mass appeal.

I think this is a decent idea, especially in the past where there wasn’t much available about each of your customers, but today, I think we need a more realistic way of telling us how each person buys. Rather than market segments, I think we actually exist in social segments; groups, cliques, socio-economic, levels. People who pursue the same interests and go to the same places generally have the same interests, and too a far degree, are probably more likely to buy the same kind of thing.

The market segmentation strategy as it stands seems to be hinged to one variable, increasing the number of variables until a comprehensive “portfolio” of  consumer interests can be created. I think this iprocess yields results, but it is not quite as much “fitting” to the customer, as trying to see his purchase habits, and become the next one. I think the next logical step for this system is for a product to cater to a subculture of humans, as opposed to trying and guessing their next purchase from just their old recipts.

A friend of mine who’s in the same class, Joe talked about the advent of social media, and its effect on marketing and business. I thought it was a very interesting post, because it really brought up how massive a business these new technologies are, and how they are changing the way in which we advertise. This got me thinking on a much more smaller scale; youtube ads.

Youtube ads are now generally commonplace, and many people still find them annoying. They are now usually indicated with a little yellow line, and some of them are in fact skippable after a certain amount of time. When they were first introduced, many people started to raise massive protests, accuse youtube of affecting content and invading privacy. In essence, youtube ads were using the content they were attached to to sell products that the typical viewing demographic might be interested in. In blunt terms. The big issue with this is that the majority of youtube content is user-made; Youtube itself actually does not produce or own rights to most if not all the material it hosts. So the idea that they can capatilize from the traffic and content of the people who upload using it seemed a massive offense.

The big change, which is still happening with youtube adverts, is that famous youtubers, like Philip DeFranco and Ray William Johnson, have actually come out in defense of this new style of advertising, saying that not only does it allow them to make a much better profit from their massive traffic figures, but it also means they do not have to waste time in their actual shows asking for donations, or plugging products. It creates both an effective divide, allowing youtubers to focus exclusively on content, and allowing them to create an actual business model, turning youtubing into a professional occupation that could honestly compete, and does, with major news and tv channels.

Youtube ads are a sign that the internet is no longer a place for hobbyists, but now is becoming regarded as one of the primary ways our generation chooses to send and receive new media, and the idea of earning a profit from this using a traditional ad structure was not only logical, but fundamental to the continued appeal of posting on youtube.

Well, you said to start with introductions, so fair enough. My name’s Vivek Menon, and I’m taking this course because its required (although I’m also the guy who brought up the whole “applied psychology” thing, which I’m still standing by.)

My experience with marketing has been fairly typical to the average student I suppose, except for one probably significant difference; I have grown up in many different places around the world, and consequently, have interacted with or been advertised to in a multitude of mediums. Everything from super advanced touch display kiosks in Bangalore to large badly-spelt descriptions of mechanical services in rural Ghana. I suppose in that regard, I have a rather interesting experience with marketing, in that I’ve learnt to recognize how it changes depending not just because of who its trying to market something to, but where it’s trying to do it.

As far as a favorite advertisement, I don’t really have one; but I do have  series of ads that I found rather interesting in their design. A little while ago, there was a mini web-campaign centered around replacing the Old Spice Guy. As a response, they created a mini-series of wepisodes that involved him fighting his replacement, and winning, as per the votes after each episode. It was a really interesting example of consumer-driven advertising; where they literally got to decide how they next advertisement would go. Though strictly speaking, they didn’t really do much advertising as per the traditional commercial sense, it still bears noting that this entire series is all about the face that will represent a Deodorant company. The most interesting thing is that even though he won, he still wont be appearing in current generation Old Spice commercials, because of contractual issues. I thought it was all very interesting, and I’ve included a playlist of the webisodes they’ve made, as well as the starting episode below.

Something personal about myself is probably harder. I suppose one interesting thing is that I know how to play the Veena, which is a four thousand year old classical Indian instrument that many believe is the origins for the majority of stringed instruments, including the guitar. I suppose that’s not exactly personal, but I don’t mind 60 people knowing that.