MKTG 3000 Lecture Notes - Lecture 27: Earned Media, W. M. Keck Observatory, Super Bowl Xxix
I. Social Media and consumers
a. Social media consumers want to
i. Echange information
ii. Collaborate with others
iii. Have conversations
iv. Stay connected
v. Be entertained
b. Markets must decide if engaging in those conversations will be profitable and fine the
best method of entering the conversation
c. Consumers expect a 60 minute response form large marketers if they tweet at them
d. Marketers need to take a look at who the users are, why the users are there
e. We are expecting business to have social media accounts
f. One company that does’t go o social edia: trader joes
i. More about selling retail experience
II. Scoai media interactie message delivery channel
a. Can have owned, paid and earned content
b. Expectation is that there is interaction
c. Must allow 2 way conversation and encourage, engagement is consensual, mobile, apps
d. First step= listen
e. Then determine goals
i. Build relationships
ii. Generate leads
iii. Mange reputation
iv. Improve customer service
v. Promote products and services
f. Need to understand how people use social media
g. Twitter for news, facebook to keep up with family
III. Social media plans
a. Listen
b. Set objectives
c. Define strateyies
d. Identify targets
e. Platform
IV. Advice
a. Keep household overhead low
i. Pretty much everyone is going to want your money. Your job to manage it
ii. Better experiences, more options
b. Focus on health
c. Compartmentalize
d. As you go into specific jobs, and become leaders, make good hires
i. Depending on type of leader you are, hire people not like yourself
ii. Interviews are the least dependable
iii. Want diversity, processes information different
iv. Once you hire people, understand what your job is as your boss
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e. We are really lucky. Advantages in education.
i. For those whose much is given, much is required
ii. Be generous
iii. More rewards for being generous
Final Exam prep
V. Marketing Entails processes that focus on delivering value and benefits to customers, not
just selling goods and services
VI. Know the philosophies
a. Production
b. Sales
c. Market
d. Societal
VII. Ansoffs strategic opportunity matrix
a. Market penetration. Same product and same market
b. Product development. New product,, same market
c. Market development. New market same product
d. Diversification. New product and new market
VIII. BCG portfolio matrix—resource allocation
a. Question market: low market share and high net growth
b. Cash cows: high market share but low growth
c. Dogs
d. Star
IX. Sustainability
a. Making sure of taking care of economics, people, and environment
b. Long term view
X. The marketing environment
a. Social
i. Demographic cultural changes
ii. Economic
iii. Tehnological
iv. Competitive
v. Regulartory
XI. Global marketing
a. Business scenario
b. Exporting, liscensing, contract manufacturing, joint venture, direct investment
XII. The nature of information search
a. Internal vs external search
b. In external, marketing cant always control
XIII. Cognitive dissonance: inner tension that a consumer experiences after recognizing an
inconcsistency between behaviors and values or opinions
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Social media and consumers: social media consumers want to, echange information, collaborate with others, have conversations, stay connected, be entertained. Social media plans: listen, set objectives, define strateyies, platform. Identify targets: pretty much everyone is going to want your money. Advantages in education: for those whose much is given, much is required, be generous, more rewards for being generous. Marketing entails processes that focus on delivering value and benefits to customers, not just selling goods and services. Know the philosophies: production, sales, market, societal. Same product and same market: product development. Bcg portfolio matrix resource allocation: question market: low market share and high net growth, cash cows: high market share but low growth, dogs, star. Sustainability: making sure of taking care of economics, people, and environment, long term view. The marketing environment: social, demographic cultural changes, economic, tehnological, competitive, regulartory. Global marketing: business scenario, exporting, liscensing, contract manufacturing, joint venture, direct investment.
