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Class 8b: Social marketing for web 2.0 projects
This document provides an introduction to marketing concepts for web 2.0 projects. It discusses what marketing is, how it has evolved beyond just selling, and how the goal is to understand customers and align offerings to create value for both customers and businesses. Good marketing decreases the need for promotion by creating advocates. The document also covers segmentation, targeting, and positioning of customers, and stresses the importance of using market information to make better decisions and justify strategies.
Class 8b: Social marketing for web 2.0 projects
- 1. COMP113 Web 2.0 andOnline Communities introduction to marketing for web 2.0 projects Phil Osborne 2010
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- 10. 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 Slide 10
- 11. 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 Slide 11
- 12. Competing on priceis a race to the bottom! Do you have a price advantage? Better than China or Walmart? Price is a barrier to entry Might reduce the probability that users will ‘try’ your offering Slide 12
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- 14. real marketing attemptsto 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) Slide 14
- 15. value generally representedby 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… Slide 15
- 16. What is thevalue of this? Slide 16
- 17. Wii FM Everybody's favourite radio station What’s In It For Me… How does the social network create opportunities for the user… Why should I participate The lurker dilemma Slide 17
- 18. implications you (producer)cannot produce value only value propositions requires users! co-creation you won’t know what they value! flexible, adaptable, customisable Slide 18
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- 21. one size fitsno one Slide 21
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- 23. marketing can help… the STP process Slide 23
- 24. segmentation, targeting and positioning Slide 24
- 25. Same ‘product’ different customers Slide 25
- 26. 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 Slide (based on your value proposition _ what do you have that they 26
- 27. 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 Slide 27
- 28. 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 Slide 28
- 29. 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 Slide 29
- 30. so… you willbe 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 Slide 30
- 31. Information Sources Primary Research Secondary Data Internal Data Asking your customers Slide 31
- 32. Questions to Ask How much is the information worth? How accurate is the information? How are you going to use the information? When (and how often) will you collect the information? Slide 32
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- 36. books Slide 36