Thursday, May 10, 2012

3 Takeaways

Market research and innovation are king
As the "positioning a new product or service" article discussed, marketers have several positioning options available, such as superior customer service along with zero-defect products, or unique products or targeting a unique segment that are hard to reproduce/reach by rivals; however , every single option rests on the corresponding market research and innovation if the company wants to maintain their competitive advantage.

Social Marketing - a behavior change
When running a social marketing campaign, I will keep these questions in mind:
What is the behavior you want to change? How are you going to change it?
Who is your target audience and how are you going to appeal to them?
What was the exchange for the target audience? Was it worth it for them? Did I offer them enough reasons/incentives?
How did you develop your marketing (aka the 4 P's)?
Who/what is your competition?
What were the results?

Virtual markets
One of the most interesting things in "Markets and Marketing : Encyclopedia of Consumer Culture" was the mention of consumers being the "cocreators" of online products (such as items in WoW, Youtube videos etc.). This links back to the video viewed in the class the other day, consumers are and will become more socially oriented in their problem solving - in this case, file sharing. This begs the question, how will marketing play a role in such a relationship?



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