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Brand value fulfillment_sjw

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Compares perceived value in marketing consumer goods to actual value and how brands can use social marketing to build relationships with their customers.

Compares perceived value in marketing consumer goods to actual value and how brands can use social marketing to build relationships with their customers.

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  • Coming full circle and addressing how consumer brands can benefit from social marketing.
  • This is a cardboard box. No secrets, you know what it can do for you. Move and store your stuff, ship gifts to grandma.
  • But what’s this? This box only offers you the added benefit of perceived value.
  • Brands spend gobs of money every year advertising to convince consumers that they need the products they offer. They need to sell and re-sell each season. Why? Because it take a lot to convince and entire population that they need on average 10 pairs of shoes.
  • Why so many product offerings? Gatorade Pro, Gatorade Prime, Gatorade Perform, Recover, and Natural. And within these ranges there are shakes, bars, sticks, this is before even addressing flavors.
  • Here’s a secret, they’re all more or less the same. So what’s the deal? Shelf space. While maybe attracting some variety consumers. Gatorade is really just preserving space on the shelf.
  • Let me jump to some psychology. Maslow’s Hierarchy of needs exhibit how people are driven at different stages. After the basics in 1 and 2 are satisfied, they tend to focus on social acceptance fufillment
  • this is where advertisers get us! They focus on issues of esteem and tempt us with objects promising to fulfill us, when really they are just trying to get us to buy things we don’t actually need.
  • Some brands attempt to gain market share through associations that they know are meaningful to their customers, but these associations are shallow and don’t give us any real insight into our actual contribution
  • These are products with actual value to customers. They are fulfilling the desire to be responsible consumers. The “good” here is integral to each one. not just tacked on.
  • Here’s an example of actual value. Moisturizer for one of the coldest and driest places on earth. Vaseline went to Alaska to offer its intensive lotion to the community
  • Social marketing successThe “Prescribe the nation” the campaign Is a social marketing success. Actual product users “Prescribed” the intensive lotion to their friends – free marketing from the most trusted sources
  • Brands know that keeping their customers should be a top priority. Existing customers are extremely valuable, retaining is less expensive than recruiting new customers, but also because We are communal by nature
  • …and when we find a good thing, we spread the word. With assistance from new media, customers share information regularly and even obsessively. Friends, family, strangers
  • Seventh Generationfocuses marketing efforts primarily on social-media marketing and public relations, spent just $99,000 on advertising in 2009, while Tide spent $133.8 million, according to Kantar Media.
  • So you’ve heard us talk about social marketing, how it can help people make change to positively affect there health and their communities. How can it help you build alliances' with your customers
  • Pay attention, to actions. For example, it looks like over 50% of consumers have made purchase decision based on health, wellness and sustainability in 2010. Don’t you want to get to know those drifters? How those people are making decisions?
  • Honest, straightforward claims, transparency of ingredients, practices, and alliances. talk to your customers like they are your neighbors or even business partners
  • Align your MISSION, VISION, VALUES to yourcustomer’s MIND, HEART, and SPIRIT. The strengths of social marketing allow brands to dig in and really understand what truly fulfills your customer.
  • This creates real opportunities for fulfillment for your customer. AND gives you a chance to address issues that you believe in affect us all, like poverty.

Brand value fulfillment_sjw Brand value fulfillment_sjw Presentation Transcript

  • consumer marketing
    Perceived Value offerings
    True Need fulfillment
    Actual value offerings
    Benefits of Social Marketing
    Stacey Waldspurger
  • Cardboard box
  • perceived Value
    A “Move-ME” unit
  • Nike spends $1.7 billion on advertising annually. (omg.)
  • Here’s a secret, They’re all more or less the same.
  • Hierarchy of Needs
    18
    Maslow
    5
    Self Actualizing Needs
    Self development and realization
    4
    Esteem Needs
    Self esteem, recognition, status
    3
    Social Needs
    Sense of belonging, Love
    2
    Safety Needs
    Security and Protection
    1
    Physiological Needs
    Food, water, shelter
    2
  • Targeting Weakness!
    18
    5
    Self Actualizing Needs
    Self development and realization
    4
    Esteem Needs
    Self esteem, recognition, status
    3
    Social Needs
    Sense of belonging, Love
    2
    Safety Needs
    Security and Protection
    1
    Physiological Needs
    Food, water, shelter
    2
  • Target Fulfillment Needs
    18
    Attempting to
    5
    Self Actualizing Needs
    Self development and realization
    4
    Esteem Needs
    Self esteem, recognition, status
    3
    Social Needs
    Sense of belonging, Love
    2
    Safety Needs
    Security and Protection
    1
    Physiological Needs
    Food, water, shelter
    2
  • Recycled bottles
    Energy Savings
    Shop Locally
    “Feel good by doing good” purchases
    5
    Self Actualizing Needs
    Self development and realization
    4
    Esteem Needs
    3
    Social Needs
    2
    Safety Needs
    1
    Physiological Needs
  • Actual Value
  • I told all my friends!
    Moisturizer evangelist!
  • 80%
    Of advertising is “word of mouth”
    150%
    wow.
    5xmore
    Of sales comes from top 20%
    30%
    Cost of a new customer vs existing
    US adults in LOHAS market in 2000
  • “The Power is with the Consumer”
    P&G Chairman, A.G. Lafley
  • Raise the stakes on low involvement purchases
    Add value buy connecting to a consumers values.
    Seventh Generation Advertising: $99,000
    Tide Advertising: $133.8 Million
  • So, what have you learned, brands?
  • #1. Pay attention.Get to know your customer’s needs. What fulfills them?
  • #2. Trust is paramount to connecting with a community.
  • #3. PracticeValue Based Marketing:
    Align your mission, vision and valuesto your customer’s mind, heart and spirit
  • 8
    4. This is also your opportunity to give back. It’s a win win.
  • References:
    Kotler, P., Lee, N. (2009). Up and Out of Poverty, The Social Marketing Solution. Wharton School Publishing, 1- 69.
     
    Kotler, P., & Keller, K. (2008). Marketing Management (13th ed.). Prentice Hall.
     
    Patagonia polishes off the ‘magic bullet’ of word-of-mouth advertising - Internet Retailer. (n.d.). . Retrieved February 23, 2011, from http://www.internetretailer.com/2004/02/18/patagonia-polishes-off-the-magic-bullet-of-word-of-mouth-a
    Gatorade.com. (n.d.). . Retrieved February 23, 2011, from http://www.gatorade.com/default.aspx#home
    Nike's star endorsements worry Wall Street - MSN Money. (n.d.). . Retrieved February 23, 2011, from http://articles.moneycentral.msn.com/Investing/CNBC/TVReports/NikeStarEndorsements.aspx
    Seventh Generation aims for green market growth | Reuters. (n.d.). . Retrieved February 23, 2011, from http://www.reuters.com/article/2009/08/08/us-seventhgeneration-interview-idUSTRE57710720090808?pageNumber=2