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Getting the Word Out: Changing Landscape of Communicating with Customers Dr. Dawne Martin MKTG 241 March 1, 2012 Think in 4D—beyond the limitations of the three dimensions inside and outside the box. Learning Objectives ◦ Review changes in the marketing landscape and how what makes marketing successful Rethink Tool #8 Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-2 Enduring characteristics of successful marketing efforts Efficiency in marketing expenditures Creative and alternative approaches for managing marketing variables Ongoing product and process innovation Customer intensity Ability to effect change in the environment Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-3 Effects of Changes—New Developments in Marketing Practice ◦ ◦ ◦ ◦ Alternative marketing approaches introduced in past decade Provide a prescription for success in new environment No individual marketing approach is comprehensive enough to guide in the future Increase in person to person (P2P) Shift from one-to-many (company to mass) to one-to-one (company to individual) model Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-4 Perspectives on the Emerging Nature of Marketing Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-5 Four Categories Buzzwords of Marketing 1. Bootstrap/grassroots method Guerrilla, subversive, street, duct tape Tactical in nature, unconventional, low cost, not by-the-book, nontraditional, extremely flexible Limited only by the imagination of the marketer not cash 2. Conversation-starter methods ◦ ◦ Word of mouth (WOM) Buzz—highly intense interactive form of WOM Both offline and online Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-6 2. Conversation-starter methods—cont. ◦ ⁻ Give them something to talk about • Secret sale • Enterprise Rent-A-Car delivers donuts to auto repair shops • Restaurant owner has a big party and invites all the local hairdressers for a free meal, creating talk all over town the next day Information dispersal by individual talkshow host • • Howard Stern Oprah Winfrey ◦ Viral marketing Spreads like a virus “Word of mouse” Hotmail, eBay, gmail Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-7 ◦ Six sure-fire buzz buttons The taboo—sex, lies, and bathroom humor The secret—both the revealed and unrevealed The unusual The hilarious The outrageous The remarkable 3. Technology-facilitated methods ◦ ◦ Customer relationship management (CRM) software and databases ◦ Delta Airlines frequent flyer program Pay-to-say marketing—third-party bloggers are paid to disseminate information on the Internet Neuro-marketing MRI technology used to detect information that customer is not cognitively aware of but affects purchasing Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-8 4. Visionary methods ◦ ◦ More strategic Involve corporate imagination to ◦ ◦ ◦ Create and dominate markets Radical marketing genius, Sir Richard Branson achieves radical results for Virgin using adventure and counterculture when taking on the big players to create publicity Require careful planning and execution Supported by organizational philosophy Strategic innovation Prentice Hall © 2009 Rethinking Marketing, 1st Edition 8-9 Elements of Entrepreneurial Marketing Radical (e.g., The Grateful Dead, Harley Davidson, and Harvard Business School) Expeditionary (e.g., Amazon and eBay) Experiential (e.g., Nike and Starbucks) Market-driving behavior also present (e.g., Harley Davidson, Amazon, Starbucks) Prentice Hall © 2009 Rethinking Marketing, 1st Edition 810 Customer-informed, but idea-led Aiming beyond satisfying current needs ◦ Surprise, delight, and amaze customers by spotting the opportunities overlooked by others ◦ Creating a future guided by their own original and visionary ideas ◦ Transform customers’ perceptions (e.g., of motorcycles, bookstores, and coffee) Prentice Hall © 2009 Rethinking Marketing, 1st Edition 811 Revisit your target market – needs and value Discover your core marketing message Develop an image – making your core marketing message visible ◦ Talk to customers or potential customers ◦ Develop a “talking logo” or 1 minute pitch to identify value and excite potential customers ◦ Name – recognizable, conveys your core message, not trademarked or registered by others ◦ Stationery or brochures/flyers ◦ Logo – lasting value (not too trendy), distinct, legible, conveys your core marketing message, no negative connotations ◦ Sales people ◦ Business cards ◦ Customer Experience – through processes and experiences ◦ Web presence Initial Steps in Developing a Communications Strategy