Lecture 3   marketing in practice
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Lecture 3 marketing in practice Presentation Transcript

  • 1. JN2702 MARKETING: PRINCIPLES AND APPROACHES
  • 2. recap  Branding is everywhere!  We exist in increasingly complex media landscape  Can you deconstruct a media organisation’s ‘assets’  Publishers are diversifying their revenue streams  Web 2.0 and the interactive audience
  • 3. Reading: Key themes  Meerman: Old methods of marketing (normally top-down) and operated through old communication structures are coming to an end  Meerman: Social media and digital platforms allow companies and organisations to form relationships with their customers and potential customers  Zyman: A marketing strategy is key, and underpinning this strategy should be ‘sales’. Sales, for Zyman, are everything  Zyman: Some marketers have lost focus from sales, and are more interested in creating a brand, brand identity and advertising campaigns  Zyman: Marketers need to be exceptionally conscious of profit and loss data, and track the success of marketing campaigns  Sylvie: Market research and audience understanding is key: consider pre-campaign research and establish what opportunities are present in your marketplace.  Sylvie: Marketers need to understand what their own organisations are capable of – resource/content/reach and audience opportunities  Sylvie: Media managers should be aware of market opportunities and threats  All: the media landscape is in constant flux
  • 4. Today: Considerations  History  “Old marketing” [Meerman]  The impact of the web and New Marketing  Market segmentation and demographics  Online marketing strategies  Constant vigilance
  • 5. History of marketing and the changing platform
  • 6. ‚Old Marketing‛ – Meerman (and a little bit of Zyman)  Companies court key press publications and hierarchical information structures  Journalists control the dialogue with the audience, so companies create dialogues with journalists  Ad agencies control overall output/engagement  Wait for ‘news’ to happen  Emphasis is on creating a powerful brand/sub brands  No way to monitor effectiveness of your advertising or other marketing elements
  • 7. The concept of the Gatekeeper  Media organisations generally took the role of ‘gatekeeper’  Controlled information flow: time and place  Published responses to that flow  Torn priorities:  Readers  Shareholders  Editorial judgement
  • 8. The New Way: What’s changed?
  • 9. Meerman’s ‘New Rules’: avoid the gatekeepers  Use social media tools to target your audience (wherever they may be)    Remember: the range of social media platforms you have access to Difference ‘market segments’ use different social media platforms The tone of the message should match your a) audience and b) platform  Engage with your customers using these tools: start a conversation with them  Write blogs to transmit ideas and information  Use other ‘platforms’ to reach your audience  Become a ‘thought leader’ via blogs and other online methods  Work the web: use search engines to your advantage: SEO  Advertising and organic search  Engage with multimedia: video, text, audio: create an experience for your users (snowfall, firestorm, slideshows, games etc)  Get people on their mobiles – apps
  • 10. Knowing your customers: Engagement
  • 11. Demographics and market segmentation  “Looking after your ABCs” – the NRS social grades  The new demographic? the changing nature of society. What are the factors behind this?  What demographic are we?  Market segmentation     Geographic segmentation Behavioural segmentation Segmentation by occasions Segmentation by benefits
  • 12. ‚Psychographics‛  Outlines a market segment’s ‘attitudes’ and ‘tastes’     Activity, Interest, Opinion Attitudes Values Behaviour  Analysts suggest these encompass the reasons behind ‘why’ people engage with a product/service  Sylvie: “Psychographics describe lifestyle, culture and values. The importance of demographics already has been outlined, but media managers also need to understand the audience’s psychographics…”
  • 13. Market analysis: Methods to aid understanding  Background industry research      Audience surveys and questionnaires   Existing products Gaps in the market Successful products Unsuccessful projects Ask a range of people about existing products, potential products, new products Long-form, in-depth interviews to provide insights  Comprehensive and detailed questioning can aid market research and present unexpected insights
  • 14. Marketing: Knowing your product  What is it that you produce?  Positives  Negatives  Capabilities  Limitations  Reach  Cost of production/cost of distribution
  • 15. Remember: Media as two-tier revenue product  Advertising  Subscription/purchase You may need to keep both ‘customers’ happy ….or figure out how a new media product will cater for itself down the line, or at inception  Eg: twitter  Eg: usvsth3m  Kickstarter
  • 16. Marketing: Knowing your company/organisation  Can a marketing ‘plan’ be sustained within the company? Some questions that might need to be asked?  Is there enough budget to be spent on advertising?  Is there enough capacity to deliver on the product  Is the editorial output relevant to the product opportunity?
  • 17. Methods and systems that might help
  • 18. The four Ps of marketing  Product  Pricing  Placement  Promotion
  • 19. The 7 Ps of marketing        Product Prices Promotion Place Packaging Positioning People More info
  • 20. Eeek – Theory Time! Tapscott: Digital futures: Society and Business  The Net Generation (otherwise known as digital natives) are increasingly affecting online behaviours  The concept of the ‘prosumer’, the wikiworkplace and peer production/mass collaboration Howdoes this affect your marketing opportunities?
  • 21. Tapscott: The abcde of marketing  [Any] Place  [New] Brand  Discovery of new prices  Collaboration and communication  Experience More info
  • 22. The Bottom Line  Zyman: It’s key for marketers to have an eye on profit and loss. If ‘sales’ aren’t increasing, a marketer isn’t doing their job.  Zyman: Understand the vision and the destination. Create a strategy to get there, employ tactics to make it happen  Sylvie: Increased sales, need to be profitable
  • 23. Marketing Time!  Set goals and achievements over the:  Short term  Medium term  Long term
  • 24. Constant Vigilance!
  • 25. Create a person and a product  Outline their demographic/segment     Outline their ‘psychographic’      Activity, Interest, Opinion Attitudes Values Behaviour Outline their ‘social media engagement’     Age Occupation Location What networks do they use and why? How often do they engage with them What do they engage with them on (device/laptop/PC) Come up with a list of ‘media product opportunities’ from a range of media providers   Think about what they might consumer and why Think about something new that might be of interest to them
  • 26. What might you need in a marketing plan?
  • 27. Reading next week  The Long Tail – Chris Anderson  Wikinomics – Tapscott  The Adverising Handbook – Powell, et al
  • 28. Next week’s topic  Advertising, ROIs and monitoring success
  • 29. Reminders  Presentations next week… February 21st  Deadline for initial pitches: DEADLINE February 27th at 5pm  Read stuff: We’ve covered a number of texts/authors  Deadline for assignment 1: DEADLINEMarch 28th 2014 at 5pm