Intro To Marketing For Web2.0 Projects Comp 113
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Intro To Marketing For Web2.0 Projects Comp 113

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Guest Lecture for Social Media Summer School Course

Guest Lecture for Social Media Summer School Course

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Intro To Marketing For Web2.0 Projects Comp 113 Intro To Marketing For Web2.0 Projects Comp 113 Presentation Transcript

  • COMP113 Web 2.0 and Online Communities introduction to marketing for web 2.0 projects Phil Osborne summer school 2008
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  • one size fits no one
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  • what is marketing?
    • as old as business itself
    • misunderstood
      • marketers reputation as bad as politicians, lawyers, used car salesman
    • marketing as selling
      • most people perceive marketing as promotion
        • advertisements, sales promotions
        • convincing people to consume / purchase things they don’t need
  • beyond selling things
    • marketer as agent for the firm
    • marketer as agent for the customer
    • good marketing decreases the need for promotion
      • customers as advocates
      • word of mouth and word of mouse
    • ultimate aim is to understand the market (particularly customers) and align the companies efforts
    • the right product, at the right place, at the right time, at the right price
  • the four Ps framework
    • a resource allocation model for organisations
      • what products?
        • what is the organisation offering / taking to market
        • what are your customers buying / what needs are being satisfied
      • what price?
        • chief determinant of value, total cost of ownership
      • what places?
        • where and when can the market access your offering
      • what promotion?
        • how does the market become aware of your offering
    • need to fit these with overall strategy / purpose of the organisation
  • integration is the key
    • each element of the marketing mix is interrelated
    • marketing does not take place in a vacuum
      • customers are not dumb
      • competitive response
      • external factors
    • managing expectations
      • what are customers ‘buying’
        • what needs is your application satisfying
      • don’t ‘sell’ what you can’t deliver
        • easy to sell someone something once
  • first principle
    • selling concept
      • belief that consumers won’t buy enough unless a large scale selling and promotion program undertaken
        • focus on transactions
        • example _ as seen on TV products
          • but wait there’s more
    • marketing concept
      • belief that the most successful approach is to determine the needs of the customer and satisfy them more effectively (and efficiently) than competitors
        • focus on creating value for (with) customers
        • example _ Google
  • marketing as philosophy
  • real marketing attempts to
    • know and understand the customer so well that that market offering fits him/her/them and sells itself
      • though the marketer will have to let the customer know it is available
    • create enough value so both the customer and organisation are satisfied
    • it should result in a customer who is ready to interact (again and again)
  • value
    • generally represented by money in exchange
      • can be non economic in both benefit and cost calculation
          • customer benefits can include emotional, status
          • costs can include time, convenience
    • subjective
    • determined by the user…
  • implications
    • you (producer) cannot produce value
      • only value propositions
    • requires users!
      • co-creation
    • you won’t know what they value!
      • flexible, adaptable, customisable
  • the marketing management framework
    • the addition of the word management suggests concern with control and efficient allocation of ‘resources’
    • analysis
      • research, understanding the environment, what is happening now and likely to happen in the future
    • planning
      • where do we want to be…
    • implementing
      • getting things done
    • control
      • measuring progress, taking corrective action
  • Plan HQ
  • marketing can help… the STP process
  • segments
    • there are a number of different ways to identify the composition of a market using geographic, demographic, psychographic and behaviouristic variables
    • in practice, a marketer will use as many segmentation variables as possible to get a clear description of the segment
    • describing segments of a market lets us profile who the typical customer in that segment will be
    • this ‘picture’ is used to determine which segments within the market we will target
  • targeting
    • evaluate the attractiveness of segments
    • AND
    • make a choice which segments to serve
    • target markets are those segments of a market at which we will direct marketing activity
    • developing a marketing mix that will appeal to that segment
  • positioning
    • positioning aims to shape the way consumer’s perceive the offer by creating a distinct image of the product in the consumer’s mind
    • positioning works to determine a product’s position in relation to competing products and has the effect of influencing people’s opinions as it recognises that consumers set a product’s position based on their understanding of it
  • choosing a positioning strategy
    • product’s position - the way the product is defined by consumers on important attributes
      • the place the product occupies in consumers’ minds relative to competing products
    • marketers must:
      • plan positions to give their offerings the greatest advantage in selected target markets
      • design marketing mixes to create these planned positions
  • so…
    • you will be expected to understand ‘the market’ and justify your decisions…
      • by investors (venture capitalists, bankers etc)
      • by employers
      • KNOWING THIS STUFF GIVES YOU A COMPETITIVE ADVANTAGE
    • market information makes it easier to make decisions…
    • marketing can’t be considered an afterthought
      • retro-fitting anything makes it harder
  • inspiration?
  • books