Marketing & Social Media
FHNW- BITMr. Flad
FHNW- BITMr. Flad
In contrast to web 1.0, the core principles of web 2.0 are based on… (mark all correct answers)
- Artificial intelligence and analytics
- Client-server networks
- Neural networks and machine learning
- The creation and sharing of content by peers
- The externalization of content
In contrast to web 1.0, the core principles of web 2.0 are based on… (mark all correct answers)
- Artificial intelligence and analytics (false)
- Client-server networks (false)
- Neural networks and machine learning (false)
- The creation and sharing of content by peers
- The externalization of content (false)
Media richness (MR): mark all correct answers
- MR is the amount of information a medium can transmit at a given time
- Media with higher richness reduce uncertainty and ambiguity in communication
- The richest way of communication is face-to-face
- A phone conference is a richer medium than a virtual world
- Wikipedia is a richer medium than YouTube
Media richness (MR): mark all correct answers
- MR is the amount of information a medium can transmit at a given time
- Media with higher richness reduce uncertainty and ambiguity in communication
- The richest way of communication is face-to-face
- A phone conference is a richer medium than a virtual world (false)
- Wikipedia is a richer medium than YouTube (false)
Social presence and self-disclosure /self-presentation Mark the best answers
- Synchronous communication has a higher social presence than asynchronous forms
- Social presence is influenced by the capacity of a medium to provide intimacy and closeness
- Levels of self-disclosure are higher in Wikipedia than in LinkedIn
- A medium with high self-disclosure helps fostering employee engagement.
Social presence and self-disclosure /self-presentation Mark the best ansers
- Synchronous communication has a higher social presence than asynchronous forms
- Social presence is influenced by the capacity of a medium to provide intimacy and closeness
- Levels of self-disclosure are higher in Wikipedia than in LinkedIn (false)
- A medium with high self-disclosure helps to foster employee engagement.
What does the newsfeed algorithm of facebook do?
The newsfeed algorithm goes over the steps of a user and tries to classify it into different categories to provide strong KPIs to make prediction or improve the reach.
Interest in user - how often user interact with the sender/clicks on recent posts
+
Post - how interesting was this to other users/friends? (comments, likes, clicks)
+
Creator - how interesting is content form this creator in general?
+
Type - image? Video? Link? Plain text?
+
Timing- is the content new?
Why is the newsfeed algorithm useful for facebook? What was the initial urge to create this algorithm?
Content on facebook has been increasing. The algorithm filters corporate pages
Why? the value of a FB fan?
2/3 of fans are likely to share good brand experiences and share promotions and discounts with their Facebook friends. 2/3 of fans are likely to share a bad brand experience.
What type of advertising does facebook have? What are the benefits?
- News Feed
- Mimics regular postings
- Large image/video + text
- Right column Ad
- Not as effective as news feed ad
- Not available for mobile advertising
What is the benefit of stating the location in a targeted post on facebook?
You also have another layer of location targeting, allowing to be even more specific:
- Everyone in this location (the default targeting option)
- The last updated location of an actual Facebook user
- People who live in this location
- Location is set by the location on a user’s Facebook profile and confirmed by their IP address.
- People recently in this location
- Tracked by mobile device usage in the geographic area you intend to target.
- People traveling to this location
- Users who had this geographic area as a recent location that’s at least 100 miles away from their home location
What to do and what do avoid when using social media campaigns??
Do:
- Do not delete messages/ comments
- Apologise in an authentic manner
- Take critique seriously
- Engage the most prominent/ vocal critics
- Remain calm , every storm moves on
- React to date
Don't:
- Do not listen (united airlines)
- Do not react (dell)
- Work with unauthentic messages (NYPD)
- Use wrong medium (NYPD)
- E.g. musicians produce youtube song about company fail. 18'500'000 vies withing 4 days stock price decreased by 10 % since the company did not react in time to this video.
- Think about what could go wrong with a campaign before you launch it.
- E.g NYPD launched a campaign and expected happy pictures with the police with "do you have a photo w/ a member of the NYPD? Tweet us & tag it . Result was a flood of pictures with officers mistreating people, and cynical comments. 70000 people tweeted aout police brutality and comments postet at a rate of 10'000 an hour. Bad response. Image was more damaged thatn ever.
What is there to understand about the social media usage and users contes?
- Demographic: : Twitter users young/urban; no "social obedience" ▪
- Medium: no control "Tweets are like roaches". Most content is negative, funny or sarcastic.
- Brand: already negative sentiment => avoid a hashtag campaign.
- Alternatives
- Feel-good user generated photos through a contest on Facebook, Instagram and Pinterest
- Use Twitter:
- Upcoming events with positive/ neutral PR surrounding; for monitoring not for campaigning
- Nevertheless: More people are following @NYPDNews
How is social media used in global corporate?
Two-thirds of companies said they are either currently using social media channels or have social media plans in the works
But:
- Focus: social media as a one-way promotional channel,
- Lack of use media to analyse conversations and turn it into insights
- 75% did not know where their most valuable customers task about them
- 31% do not measure effectiveness of social media
- 7% of participating companies integrate social media into their marketing
What are social media approaches and principles of engagement?
Social media: approaches and principles of successful engagement (synthesis)
- Take social media seriously, feel the “pulse” (Dell)
- Know your audience and your media (NYPD)
- Align social media with corporate “reality” / with reality of products and services
- Interact with other influential individuals/ brands to maximise your reach
- Consider the timing of your engagement
- Dialogue and not content is king
- Let others talk for you (customers, employees, partners etc):
- Don`t sell – give (entertainment, information, education,…)
- 80/20 rule of thumb (non-promotional vs. promotional content)
Successful approaches
- Constantly monitor the social media environment. In case of "turbulences" react immediately, honestly, and sensitively
When do you tweet?
Most brands tweet during the work week. Peak is on Thursdays and in general between 9AM to 6PM. But peak times vary with industry, location, and audience demographics.
The most retweets happen on Sundays. And in general more at night (EST)
What are non-promotional dialogues?
Non-promotional dialogues:
- Get personal (occasionally) Dell
- Incorporate users or employees as your brand messengers
- Link social media messages to real world / events (Oreo, Obermutten)
- Transmit corporate and consumer values (Dove, Apple, Under Armour)
- Do the unexpected (outrageous /funny / provocative (Abarth, Blendtec, Burger King)
How can you transmit corporate and consumer values platforms without apparent self-serving purposes?
- Unilever’s Dove Campaign for Real Beauty’’
- Bring together like-minded people who wish to enhance girls’ and women’s self-esteem by helping to establish realistic standards of beauty
- Mix of media/activities: advertisements, video, workshops, sleepover events and the publication of a book, the production of a play and a digital platform, viral videos.
Automotive – practice case
Assignment: Your task is to develop an outline for a marketing campaign in which you try to engage the target populations as much as possible. You can use social media, viral marketing approaches, on site events/activities etc. In planning the campaign, you develop a first outline which describes the key elements of the campaign including channels, events etc.
Case: Company background You work as a marketer in a large and globally operating automotive manufacturer with European roots. The company has a global market share with a focus on US, Europe and Asian markets. You and your team are in charge of the US market. Your particular task is to develop a sketch for a campaign for a new electric car to be launched in the US market. The is priced between 25’000-35’000 USD. The image that you and your team want to bestow to the new care is a small, stylish/hip, and environmentally friendly city car for urban populations. One of the main customer segments for this market are millennials, who are relatively young and culturally diverse.
Contact influencers personality to promote the car & start a social media (twitter, Instagram(fb)) marketing campaign
Maybe guarantee something to be done for the environment when you buy the car. Like planting a tree
Influencer. Ping them, make a proposal, define expectations, name a price and make a contract. They need to interact with the product.
What do you need to Track & monitor in social media?
- Awareness
- Brand awareness e.g. followers
- Engagement
- Brand engagement (e.g. twitter analytics - comments)
- Website traffic from social media (google analytics)
- Word of mouth
What do swiss companies monitor on social media?
- Likes, follower 71%
- Visitors 68%
- Number of social media reports 59%
- Dialogue 16%
- Requests, rutnover 17%
- Image 14%
- Topic leadership 13%
- Satisfaction, recommendations 11%
How do you implement a systematic approach to social media?
Digital acceleration team (DAT)
3 core disciplines:
- Listening
- Engaging
- Inspiring & Transforming
Listening and engaging: focus on trouble spotting:
- Taping on online conversation and interactions as and when they happen.
- Trouble spotting: high number of comments,”
- Marking negative issues: «If there is a negative issue emerging, it turns red.”
- Alters to trigger engagement, i.e., a real-time online response from a team member.“
DAT team: combining social media with corporate training
- Digital leadership training
- 12 members per class train for 8 months
- Three different areas:
- Community management for top global brands.
- Small internal projects, where we would make our capacity for business units and functions, e.g. mobile solutions in emerging markets
- Intense training and through leadership
What are key questions and key content of Social Media?
- Foundations /characteristics of social media and social networks, nodes etc.)
- What makes networks and social media powerful?
- Networks in organisations
- Social media and underlying concepts/classifications)
- Social media goal setting/ approaches / building blocks
- Audience, channels and successful customer engagement principles
- Frequent mistakes - and approaches and principles of successful engagement
- Social media tracking / monitoring
How would you define marketing?
"Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers."
"Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return"
"Marketing is the process of planning and execution the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."
What are the goals of marketing?
"marketing is to find out what people like and do more of it. Marketing is to find out what people don't like and do less of it."
Why do we need marketing?
The Consumer needs something and the suppliers provides goods and services- so marketing gives the information of the supplier to the consumer and the consumer gives money to the supplier.
Old times the consumers needs were only provided by one supplier. It was a simple decision making. The supplier market decided (shortage society) Today it is different, consumer demand marked (affluent society) consumers have multiple suppliers to choose from and make a complex decision about goods and services and where to buy it.
What is the principal of reward? Which rewards exist for the market partners?
Consumer: convenience fllfilled, happy, phychological relieve, accessability
Supplier: Revenue provitability, new customer, loyalty, dominance in area
What is the principal of capacity? Which resources do the market partners need?
Consumers: space, capital, human resource
Supplier: human resource, capital, suppliers, good decision making, smart invesments
What was the marketing evolution from the 1950ies to 2000s?
1950 Production orientation (sellers market) produce as much as you can
1960 Sales orientation (increasing competition, saturation) sell as much as you can
1970 Marketing orientation (buyers market) produce what you can sell
1980 Competitive orientation. How do we differentiate ourselves from competition?
1990 Environmental orientation , how do we recognize relevant trends and react effectively?
2000 Network orientation, how do we interact in networks and with customers and other market partners?
What are factors impacting marketing?
- Customer collaboarion and influence
- Growth of channel and device choices
- Social media
- Roi accountability
- Decreasing brand loyalty
- Data explosion
- Shifting consumer demographics
- Regulatory considerations
- Growth market oppotunities
- Financial constraints
- Corporate transparency
- Privacy considerations
- Global outsourcing
Sorte the factors that impact marketing by impact.
- Privacy considerations
- Shifting consumer demographics
- Social media
- Roi accountability
- Corporate transparency
- Global outsourcing
- Customer collaboarion and influence
- Regulatory considerations
- Data explosion
- Growth of channel and device choices
- Decreasing brand loyalty
- Growth market oppotunities
- Financial constraints
- 67% Customer collaboarion and influence
- 61% Growth of channel and device choices
- 57% Social media
- 45% ROI accountability
- 42% Decreasing brand loyalty
- 39% Data explosion
- 37% Shifting consumer demographics
- 33% Regulatory considerations
- 31% Growth market oppotunities
- 30% Financial constraints
- 21% Corporate transparency
- 10% Privacy considerations
- 9% Global outsourcing
Identifiy unerlying needs of tesla in the upside down maslow pyramid.
Self actualization, esteem, social, safety, transportation
What is market oriented management
It takes customer orientation plus competitor orientation and equals the building up, extensions and conservation of competitive advantages of a corporation. Marketing is market-oriented and market-driven business management and decision making.
Draft a marketplace and customer needs and the role of marketing
What is marketing as a dual management concept ?
Compare the old view of organizations to the new way of organisations
What is a seamless hospitality organization drawing?
What is maslow's hierarchy of needs?
Define: Need, Want and Demand
Need- a state of feld deprivation of some basic satisfaction e.g. food, clothing ,safety, belonging. Needs Are states of feld deprivation
want- desire for specific satisfiers of these needs. E.g.g burger, mercedes benz, and LV Bag etc. different for different socio-cultural structures. Wants Are the form human needs take as they are shaped by culture and individual personality.
demand- wants backed by ability and willingness to buy. E.g. * of people who want a Merc and can buy it. Demands Are human wants that are backed by buying power
What are Market offerings and marketing myopia?
Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Marketing myopia is focusing only on existing wants and losing sight of unerlying consumer needs.
What does marketing actions try to create?
Exchange is the act of obtaining a desired object from someone by offering something in return. Marketing actions try to create, maintain, and grow desirable exchange relationships.
What is a market?
A market is set of actual and potential buyers. Consumers market when they: - search for products.
- interact with companies to obtain information
Make purchases
What questions do you need to ask when designing a customer value -driven marketing strategy?
Marketing management is the art and science of choosing target markets and builing profitable realtionships with them.
- what customers will we serve (target market)?
How can we best serve these customers (value proposition)?
A brand's value proposition is the set of benefits or values it promises to deliver to customers to satisfy theri needs.
-
- 1 / 402
-
Flashcards
What are different types of consumer products. Describe the customer buying behaviour, price, distribution, promotion and give examples to each product type
Define Product
Anything offered to a market for attention, acquisition, use or consumption that might satisfy a need or want.
What are the difference Product Level of the customer value hierarchy by Armstrong, Kotler
In planning a market offering, the marketer needs to address all three product levels! Of Rayban sunglasses and outline the firm‘s three product levels for its product. Explain the three levels and show what they constitute. Why is this model important?
Core customer values
- Attractive Optic
- Sun protection
Actual product
- High quality materials
- Recognizable design
- Famous brand
- Exclusiveness
Augmented product
- Warranty: 2 years against crash
- Design / personalize / customize sunglasses (choose type, materials)
- Free shipping
- Easy returns
By what is packaging influenced?
Packaging has been influenced by
- self-service
- Consumer affluence
- Company/brand image
- Innovation opportunity
What are the different functions of packaging labels?
- Identifies
- Grades
- Describes
- Promotes
- Protects
- Transports
The packed product. Packaging is a differentiation tool
What product and service decisions need to be fallen?
- Individual product decisions
- Product attributes
- Branding
- Packaging
- Labeling
- Product support services
- Product line decision
- Product mix decisions (product assortment)
What is a product line decision?
- A product line is closely related products that:
- Have similar functions and customer groups
- Are sold through similar outlets or fall withing given price ranges
- Product line length is the number of items in the product line.
- Product line filling
- Product line stretching
What is a product mix decision?
Product mix decisions (product assortment)
- Product mix, portfolio, category, range, assortment = a group of diverse but related items that function in a compatible manner.
- A product mix has a certain:
- Breadth or width: number of product lines (e.g. unclever producing cooking oil, toilet soap, cosmetic, ice cream etc. )
- Length: total number of products in one product line
- Depth: number of variants of each product offered (stock keeping units)
- Consistency: relationship between different product lines regarding end use, production requirements, distribution channels, or some other
What is a product line extension?
A product line extension is the use of an established product brand name for a new item in the same product category.
Line Extensions occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes.
Sketch a mega-niche longtail model
What are the five-phases of the product life-cycle model
Draft the option-path in saturation stage
How do you show a graphic of performance gaps
Compare the old and the new way of changing view in the product line
What is included in the product portfolio?
The Product Portfolio:
- The complete collection of products marketed by a firm or business unit
Managing the Product Portfolio: The portfolio should be thought of and managed as an integrated whole, rather than as individual products.
The Firm must balance its portfolio across several dimensions:
- Old products versus new products
- Cash generation and cash use
- Growth and profit
- Short term and long term
Approaches to Portfolio Balancing:
- Financial analysis
- Portfolio analysis
How do you close performance gaps
Implications: To meet close performance gaps and attain performance objectives requires investment…and choices among investment alternatives
Choices: Which Products and Markets?
- Further market penetration
- New markets and segments
- New products
- New businesses
Key Question: Which opportunities do we target with which products? Key Problem: How to choose which opportunities to pursue and manage the product portfolio.
What are the steps of developing new products?
- Idea generation - to capture new ideas
- Idea distillation - to screen out those ideas not worth taking forward
- Concept definition - to consider specifications such as technical feasibility and market potential
- Strategic analysis - to ensure your ideas fit into your business' strategic plans
- Concept development- to create a prototype product or pilot service
- Test marketing- to ensure your product can be modified according to customer, manufacturer ad support organizations' feedback.
- Product launch - determine how to sell, promote and support your product
What are the functions of a brand?
What is a brand steering wheel?
What is a brand?
A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Role of brands is to:
- Identify the maker
- Offer legal protection
- Create barriers to entry
- Signify quality
- Provide competitive advantage
- Secure price premium
What is brand equity?
Brand equity is the positive differential effect that knowing the brand name has on customer response to the product or the service.
Why are brands important?
Brands embody a core promise of values and benefits consistently delivered. Brands provide clarity and guidance for choices made by companies, consumers, investors and other stakeholders.
What are the typical brand strategy decisions?
- Brand positioning
- Powerful brand positioning builds around strong consumer beliefs and values
- Brand name
- Based on product benefits, target market, and marketing strategies
- Brand sponsorship
- Launch a national brand (or manufacturer's brand)
- Sell to resellers that use a private brand (store brand)
- Licensing
- Co-branding
- Brand development
- Line extensions
- Brand extensions
- Multibrands
- New brands
Give examples of Service industries
- Health care
- Hospital, medical practice, dentistry, eye care
- Professional services
- Accounting, legal, architectural
- Financial services
- Banking, insurance, others
- Hospitality
- Restaurant, hotel/motel, ski resort
- Travel
- Airline, travel agency, theme park
- Others
- Hair styling, pest control, plumbing, lawn maintenance, counselling services, health club, interior design
What are benefits of modern service products?
• a problem solution (e.g., integrated risk insurance)
• wellbeing (e.g., health service)
• an experience (e.g., leisure service) and
• a physical or psychological development and transformation of the individual (e.g., education, project therapy, style advice).
What changed in the view over last few years in service products
What are some characteristics of services compared to goods? Name some of the implications of the characteristics
- Intangibility - Implications:
- Services cannot be inventoried
- Services cannot be easily patented
- Services cannot be readily displayed or communicated
- Pricing is difficult
- Variability (inconsistency) - implications:
- Services delivery and customer satisfaction depend on employee and customer actions
- Service quality depends on many uncontrollable factors
- There is no sure knowledge that the service delivered matches what was planned and promoted
- Simultaneous production and consumption - implications:
- Customers participate in and affect the transaction
- Customer affect each other
- Employees affect the service outcome
- Decentralization may be essential
- Mass production is difficult
- Perishability (inventory) - implications:
- It is difficult to synchronize supply and demand with services
- Services cannot be returned or resold
- Inclusion of the external factor
What are characteristic features of services and what are consequences for producers and consumers?
- Feature of service
- Consequences for producers and consumers
- Intangibility (no transformation of goods)
- Non-transparency of the service
- No transfer of title
- Increased risk for customers
- Principle of uno actu (congruence of congruence of consumption and production; service is provided on the customer or ist property)
- Involvement of the customer (e.g. physical presence)
- Lack of storage capability/ transience
- Harmonization of supply and demand
- Heterogeneous service, i.e. dependent on external factor
- Individual unpredictable quality: need for quality management
- Measures to manage customers and co-customers
- Significance of personal contact
- Promotion of quality of interaction
- Quality management
What are special challenges for services in general?
- Ensuring the delivery of consistent quality
- Communicating and maintaining a consistent image
- Accommodating fluctuating demand
- Motivating and sustaining employee commitment
- Coordinating marketing, operation, and human resource efforts
- Finding a balance between standardization and personalization
What is a traditional marketing mix?
All elements within the control of the firm that communicate the firm’s capabilities and image to customers or that influence customer satisfaction with the firm’s product and services:
- Product
- Price
- Place
- Promotion
Describe the extended 8 Ps for mix of services
- Product – Price – Place – Promotion
- People (Permission Marketing)
- All human actors who play a part in service delivery and thus influence the buyer’s perceptions: namely, the firm’s personnel, the customer, and other customers in the service environment.
- Physical Evidence and Infrastructure (digital Platform Marketing)
- The environment in which the service is delivered and where the firm and customer interact, and any tangible components that facilitate performance or communication of the service.
- Process (Performance - UX)
- The actual procedures, mechanisms, and flow of activities by which the service is delivered—the service delivery and operating systems.
- Partner (Participation - UI)
- Services and also products included in the services process that are produced and delivered by partners in the supply chain.
What types of service encounters are there and what opportunity is given when this happens?
A service encounter occurs every time the customer interacts with the firm and can potentially be critical in determining customer satisfaction and loyalty
Types of encounters:
- Remote encounters (e.g. webpage),
- Phone encounters
- Face to face
This is an opportunity to:
- Build trust
- Reinforce quality
- Build brand identity
- Increase loyalty
List the steps from left to right in a Service chain in incoming tourism — destination point of view
- Information reservation
- Travel
- Local info
- Catering
- Accommodation
- Transport
- Activity / animation
- Entertainment
- Departure
- After-sales support
Sketch the basic structure of performance process
Sketch the services marketing triangle
What are some steps to improve the customer orientation with people
- Analyse the reason
- Lack of motivation?
- Know-how gap/skill?
- Inapt process?
- Define actions
- Training
- controlling
Sketch the service profit chain
Define physical evidence and Infrastructure and describe the elements, services cape and other tangibles
Physical evidence is the material part of a service. Strictly speaking there are no physical attributes to a service, so a consumer tends to rely on material cues.
Elements are personal-related (verbal and nonverbal) and object-related
The servicescape is
- Facility exterior
- Exterior design
- Signage
- Parking
- Landscape
- Surrounding environment
- Facility interior
- Interior design
- Equipment
- Signage
- Layout
- Air quality/temperature
- Other tangibles
- Business cards
- Stationery
- Billing statements
- Reports
- Employee dress
- Uniforms
- Brochures
- Web pages
- Virtual servicescape
Name and describe the partner and relationship marketing
Relationship marketing
- Creating positive brand awareness and growth for a business through understanding, fostering, and leveraging its relationships
Influencer Marketing
- A modern take on affiliate marketing, influencer marketing, financially incentivizes individuals with large, captive followings in specific niches, empowering them to drive awareness and revenue for brands.
Partner Marketing
- Paying a commission of fee to companies such as distributors, resellers, agencies, and other third-party firms to promote leads and sales.
Employee Advocacy
- The self-promotion of a business by its team to generate positive exposure and raise awareness for their brand.
Referral Marketing
- The practice of using rewards to motivate passionate advocates and customers to directly refer their networks to brands.
Affiliate Marketing
- A transaction between a company and an entity with a passive, financially-driven relationship where the business receives customers or leads in exchange for monetary incentives.
