MKGT 188 midterm

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Transcript of MKGT 188 midterm

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• Tom Kelly’s book: The Art of Innovation• 10 Creative Steps in Developing Effective

Commercial Social Media• Show your Top 10 Do’s and Bottom 10 Don’ts• World Market Product Planning: “The Little

Green Pill”• Segmentation Targeting• Personal Choice• Project I Would Add to Make MKTG 188 a

Better Class

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Top 10:The Art of Innovation by Tom

Kelly

By Jaime Koy

Row 6

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1) Inspiration By Observation Inspiration for creative

thinking derives from finding out what others have done then improving the idea to better serve your outcome

In the future, collecting all the information in my environment will lead me to generating better quality values

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2) Making Heroes Paying close attention to

how customers interact with products and services may lead to enhanced satisfying of their needs

In the future, making customers feel in high spirits and significant after making a purchase is the true sign of fulfilling the customer’s need

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3) The Brainstormer Effect Sharing of wild or practical

ideas that may have come out in a brainstorm session that gives people a feeling of great possibility and gain room for a richer experience

In the future I wish to be around creative and intuitive thinkers who are able to bounce ideas of one other to create something remarkable

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4) The Passion Factor

Inspired by a cause or a search for excellence that starts with a single emotional or intellectual chord

In the future I hope to pursue an opportunity in which has a passion for; such as working with sports, coaching, entertainment, etc,

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5) The Right Mix Finding the right mix of

personalities in a team is substantial in trying to generate progress

Locating the people who will need to regularly interact with one another and announce that the team is the most important goal of the company

In the future, being able to collaborate with others is a necessity and developing an open mind and open ears will assist in working in a team environment

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6) Teams and Trust The best leaders answer

questions with actions instead of words, and the best teammates leave no doubt about where they stand

In the future, I will gain the trust of my coworkers and the surrounding individuals through my work ethic and actions, not through words

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7) Create a Team Icon Best teams and studios

make a practice of seeking out icons that inspire the workplace

In the future, I will build team rapport with the coworkers around the office and see the pride towards the workplace and to the team icon

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8) Opening the Floodgates

Streams of energy where euphoric moments when ideas and decisions come effortlessly

In the future, I will use my own self exercises to help elevate my creative mind and develop better ways to be more innovative

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9) Skill Sets Sometimes its difficult to

learn new skill because it seems too hard to learn but with the right approach all types of skills are attainable

In the future, I will not be afraid of trying new things or be uncomfortable with learning something different, it all will add to the skill set and make me much more distinct person

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10) Simple as a Frisbee

Simplicity factor applies to all kinds of products and being practical may the best innovation yet

In the future, keeping in mind the simple, practical use of a item and then improving the quality may increase the chances of striking it big

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Developing Effective Social Media

By: Jaime Koy Row 6

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1) Goals & Objectives

Starting Point: Improve

communication Customer Service Build Awareness New Ideas Reach New

Audience

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2) Engage with Customers

Acknowledge Users on the Internet Answer questions

left on blogs, etc. Setup Collaborative

Tools Blogs, Forums,

Surveys Display recent Activity,

Announce upcoming events

Trigger Conversation

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3) Be Patient

Will see small changes in the beginning, stay focused for the long haul

Participation will empower users when seeing engagement

Combination of online tools

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4) Study the Customer

Find out which social platforms they are using

Figure out why they use social media

Assess customers social activities

Get individuals involved Give a reason to use

your product

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5) Monitoring & Measurement

Google Analytics Tweetbeep Return on

Investment Comments/Replies User Uploads Reviews Facebook “Likes” Retweets

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6) Forums & Online Communities

People regroup in communities

Word of Mouth People trust peer to peer

reviews Purchases on

recommendations Online conversations

and communicate with brands

Brand Community

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7) Blogs

Maintained by an individual with regular entries of commentary, descriptions of events, or other material such as graphics or video

Interactive Engage in viral wave Share ideas and

thoughts

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8) Social Networks

Connect with people, reach where they are

Generate more buzz Brand positioning Generate larger

targeted segment Better brand

awareness User stickiness

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9) Twitter

Build long term strategy

Provide customer support

Brand Awareness Reward

Fans/Followers Provide news outlet Present promotions

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10) Integrated Social Media

Center of your marketing initiatives

Gate way to online strategies

Participation Access Includes: blogs,

photo galleries, forums, and ratings and reviews

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Top 10:Top 10:Do’s and Don’tsDo’s and Don’ts

Jaime KoyJaime Koy

MKTG 188 MKTG 188

Row 6Row 6

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Do: Think BIG, Use ImaginationDo: Think BIG, Use Imagination

Allowing the mind to Allowing the mind to ponder and explore ponder and explore new avenues is the new avenues is the key to striving key to striving towards lofty goals towards lofty goals and aspirationand aspiration

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Do: Rise Above the CompetitionDo: Rise Above the Competition

Standing above the Standing above the crowd and being the crowd and being the purple cow in the purple cow in the room lets others know room lets others know you are innovative not you are innovative not settling in the norm settling in the norm

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Do: Utilize Visuals Do: Utilize Visuals

Stimulating the viewer Stimulating the viewer with spectacular with spectacular visuals such as the visuals such as the use of color can use of color can dramatically help in dramatically help in presentationspresentations

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Do: Think Outside the BoxDo: Think Outside the Box

Thinking different and Thinking different and from a new from a new prospective will set prospective will set you apart from the you apart from the crowdcrowd

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Do: Be Energetic DynamicDo: Be Energetic Dynamic

Applying zest and Applying zest and enthusiasm to a enthusiasm to a presentation will lead presentation will lead to a better overall to a better overall performanceperformance

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Do: Grand Theatre Do: Grand Theatre

Presenting your Presenting your project is the ultimate project is the ultimate stage where you can stage where you can let your personality let your personality flow and express the flow and express the dramatics that is seen dramatics that is seen in grand theatres in grand theatres

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Do: CreativityDo: Creativity

Being creative is a Being creative is a given in the class, given in the class, where students can where students can show their show their imaginative and imaginative and artistic qualitiesartistic qualities

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Do: Break Out of ShellDo: Break Out of Shell

Learning to adapt in Learning to adapt in front of an audience is front of an audience is a skill that can be a skill that can be learn here in this learn here in this classroomclassroom

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Do: Make Eye ContactDo: Make Eye Contact

Engaging with the Engaging with the audience while audience while making a presentation making a presentation allows the audience allows the audience to feel apart of to feel apart of experienceexperience

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Don’t: ProcrastinateDon’t: Procrastinate

Putting things off and Putting things off and saying that you’ll do it saying that you’ll do it later will only enhance later will only enhance the reality you will be the reality you will be taking MKTG 188 taking MKTG 188 over again next over again next semestersemester

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Don’t: Be LazyDon’t: Be Lazy

Going along with Going along with procrastination, procrastination, laziness will never laziness will never allow you to succeed allow you to succeed and will only be the and will only be the demise of your demise of your personal downfallpersonal downfall

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Don’t: Be Satisfied Don’t: Be Satisfied

Never settle for what Never settle for what is easily attainable, is easily attainable, strive for the best you strive for the best you can do and reach as can do and reach as far as you canfar as you can

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Don’t: Be AfraidDon’t: Be Afraid

Being scared and Being scared and afraid will not be afraid will not be tolerated in a tolerated in a marketing course, marketing course, plain and simpleplain and simple

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Don’t: Be a LonerDon’t: Be a Loner

Associate yourself Associate yourself with other marketing with other marketing students or get on students or get on social medias to social medias to network with others in network with others in the same industrythe same industry

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Don’t: Speak SoftlyDon’t: Speak Softly

Projecting your voice Projecting your voice to the audience, being to the audience, being clear, and concise is clear, and concise is the way to effectively the way to effectively communicate any communicate any presentation presentation

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Don’t: Have Bad PostureDon’t: Have Bad Posture

Presenting with bad Presenting with bad posture gives off to posture gives off to the audience that you the audience that you aren’t prepared and aren’t prepared and may not take the may not take the information seriouslyinformation seriously

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Don’t: Be Closed MindedDon’t: Be Closed Minded

Broadening the mind Broadening the mind and thinking out of the and thinking out of the boundaries are keys boundaries are keys to better marketingto better marketing

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Don’t: Have Too Many WordsDon’t: Have Too Many Words

Too many words on a Too many words on a slide can take away slide can take away from the real point of from the real point of what your trying to what your trying to saysay

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Don’t: Overflow With InformationDon’t: Overflow With Information

Piling powerpoint Piling powerpoint slides with extra slides with extra information is not information is not usefuluseful

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World Market Product:World Market Product:

By: Jaime KoyBy: Jaime Koy

Row 6Row 6

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1) Unique Packaging1) Unique Packaging

A different and A different and distinctive packaging distinctive packaging would make the would make the product stand out product stand out from the restfrom the rest

Packaging would be Packaging would be a value added quality a value added quality to the productto the product

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2) Television Infomercial2) Television Infomercial

By airing an infomercial By airing an infomercial the product can gain the product can gain popularity with popularity with consumers and consumers and prospective consumersprospective consumers

May also create a cult May also create a cult following such as The following such as The Snuggie, which was Snuggie, which was thought to be a novelty, thought to be a novelty, is now a sought after is now a sought after productproduct

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3) Print Advertisements3) Print Advertisements

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4) 30-day Trial Money Back 4) 30-day Trial Money Back GuaranteeGuarantee

The addition of a trial and money back The addition of a trial and money back guarantee will ensure that the consumer can guarantee will ensure that the consumer can test the product and see if it’s beneficial without test the product and see if it’s beneficial without having the consumer invest so much into the having the consumer invest so much into the little green pill little green pill

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5) Celebrity Endorsement5) Celebrity Endorsement

The use of celebrity The use of celebrity endorsement may endorsement may enhance the chances enhance the chances that consumers will use that consumers will use the productthe product

Jillian Michaels can be Jillian Michaels can be the spokesperson that the spokesperson that females can relate to females can relate to and as for males, Sly and as for males, Sly Stallone may be a Stallone may be a candidate for promoting candidate for promoting the Little Green Pillthe Little Green Pill

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6) Testimonials6) Testimonials

Testimonials will add Testimonials will add creditability to the creditability to the productproduct

Giving other curious Giving other curious potential users the potential users the endorsement to attempt endorsement to attempt to use the productto use the product

Consumers are drawn to Consumers are drawn to what others have to say, what others have to say, although testimonials although testimonials have to be authentic have to be authentic

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7) Create Website7) Create Website

The website for the Little The website for the Little Green Pill should be the Green Pill should be the one stop information one stop information source for customerssource for customers

All things associated with All things associated with the product must be the product must be included such as: health included such as: health facts, how to order, facts, how to order, where to order, about the where to order, about the company who created company who created the product, etc.the product, etc.

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8) Facebook Fan Page8) Facebook Fan Page

Creating a Facebook fan page will increase the Creating a Facebook fan page will increase the popularity of the product and also gives a forum for users popularity of the product and also gives a forum for users to comment and express their feelings for others to readto comment and express their feelings for others to read

Marketers now must use social networks to better brand Marketers now must use social networks to better brand and promote products, users are better connected and promote products, users are better connected through the internetthrough the internet

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9) Point of Purchase9) Point of Purchase

This can be used when This can be used when the product is already the product is already established and can be established and can be placed in stores such as placed in stores such as GNC, Vitamin Shoppe, GNC, Vitamin Shoppe, or local supplement or local supplement storesstores

Would create an impulse Would create an impulse buy and showcase the buy and showcase the product as a must product as a must purchase item purchase item

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10) Viral Marketing10) Viral Marketing

Also meaning the word of mouth spread through social Also meaning the word of mouth spread through social networks to better deliver or enhance the product namenetworks to better deliver or enhance the product name

Promoting brand awareness through the internet may Promoting brand awareness through the internet may consist of video clips, interactive Flash games, consist of video clips, interactive Flash games, advergames, brand software, images, or even text advergames, brand software, images, or even text messages. messages.

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Segmentation and TargetingSegmentation and Targeting

By: Jaime Koy Row 6By: Jaime Koy Row 6

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1) Niche Marketing1) Niche Marketing

Capturing a niche Capturing a niche market will lead to market will lead to customers paying a customers paying a premium to the premium to the company that best company that best satisfies them, satisfies them, potential growth in potential growth in profit, and sense of profit, and sense of fulfillment by fulfillment by specializationspecialization

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2) Local Marketing2) Local Marketing

Reflects the growing trend of grassroots marketingReflects the growing trend of grassroots marketingWhere marketing activities concentrate on getting as close and Where marketing activities concentrate on getting as close and personally relevant to consumers as possiblepersonally relevant to consumers as possibleExample is Baskin Robbins where they are implementing “Three Example is Baskin Robbins where they are implementing “Three Mile Marketing,” putting more emphasis on local events and Mile Marketing,” putting more emphasis on local events and promotions, remodeling stores, using vibrant colors, and improve promotions, remodeling stores, using vibrant colors, and improve customer servicecustomer service

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3) Individual Marketing3) Individual Marketing

Also known as customized marketing, where customers Also known as customized marketing, where customers are taking more initiative in determining what and how to are taking more initiative in determining what and how to buy their productsbuy their products

Customerizaiton empowers consumers to design the Customerizaiton empowers consumers to design the products and service offering of their choiceproducts and service offering of their choice

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4) Demographic4) Demographic

Associated with Associated with consumers needs consumers needs and wantsand wantsVariable groups: age, Variable groups: age, family size, life cycle, family size, life cycle, gender, income, gender, income, occupation, occupation, education, religion, education, religion, race, generation, race, generation, nationality, and social nationality, and social classclass

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5) Psychographic5) Psychographic

Science of using Science of using psychology and psychology and demographics to better demographics to better understand consumersunderstand consumersBuyers divided into Buyers divided into different groups on the different groups on the basis of personality traits, basis of personality traits, lifestyle, or valueslifestyle, or valuesThese represent the These represent the motives in which carries motives in which carries consumers to purchase consumers to purchase certain productscertain products

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6) Geographic6) Geographic

Segmenting the market Segmenting the market into different geographical into different geographical unitsunits

Categories such as: Categories such as: nations, states, regions, nations, states, regions, counties, cities, or counties, cities, or neighborhoodsneighborhoods

Narrowing down specific Narrowing down specific areas to potentially gain areas to potentially gain greater sales greater sales

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7) Needs-Based Market Approach7) Needs-Based Market Approach

Group customers into Group customers into segments based on segments based on similar needs and similar needs and benefits sough by benefits sough by customer in solving a customer in solving a particular consumption particular consumption problemproblemAttributes that causes Attributes that causes customer to feel a customer to feel a necessity for a productnecessity for a productExample: crowds and Example: crowds and mile long lines of people mile long lines of people feeling the need to feeling the need to purchase the iPhonepurchase the iPhone

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8) Personal Characteristics8) Personal Characteristics

Serving the consumers Serving the consumers that have the similar that have the similar values and preferences values and preferences

Gearing all endeavors to Gearing all endeavors to attract the certain type attract the certain type characteristics that characteristics that serves the purpose of the serves the purpose of the productproduct

Example: Harley Example: Harley Davidson, Tag Hauer, Davidson, Tag Hauer, Prada Prada

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9) Behavioral9) Behavioral

Dividing buyers into groups on the basis of their Dividing buyers into groups on the basis of their knowledge of attitude toward, use of, or response to a knowledge of attitude toward, use of, or response to a productproduct

Understanding consumer decision roles and behavioral Understanding consumer decision roles and behavioral variables are key to why consumer purchasevariables are key to why consumer purchase

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10) Patterns of Target Market10) Patterns of Target Market

Single Segment Single Segment ConcentrationConcentration– Gain a strong knowledge of Gain a strong knowledge of

the a segment’s needs and the a segment’s needs and can gain a strong market can gain a strong market presencepresence

Selective SpecializationSelective Specialization– Pick certain segments Pick certain segments

objectively to promise to be objectively to promise to be profitable profitable

Product SpecializationProduct Specialization– Markets to different Markets to different

customer groups and customer groups and builds a strong reputation builds a strong reputation in the specific areasin the specific areas

Market SpecializationMarket Specialization– Concentrate on serving Concentrate on serving

many needs of a particular many needs of a particular customer groupcustomer group

Full Market CoverageFull Market Coverage– Attempts to serve all Attempts to serve all

customer groups with all customer groups with all the products they might the products they might needneed

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Personal ChoicePersonal Choice

By: Jaime KoyBy: Jaime Koy

Row 6Row 6

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1) Guest Speakers/Past 1) Guest Speakers/Past AlumniAlumni

The class didn’t get the opportunity to meet or hear The class didn’t get the opportunity to meet or hear from past Fresno State students, successful alumni, from past Fresno State students, successful alumni, or distinguished personnel in the field of marketingor distinguished personnel in the field of marketing

Being exposed to successful people will allow Being exposed to successful people will allow students to strive further and envision themselves to students to strive further and envision themselves to a higher levela higher level

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2) How to Get a 2) How to Get a Job/InternshipJob/Internship

Focusing on more on how to apply our Focusing on more on how to apply our skills that we learned in 188 to a potential skills that we learned in 188 to a potential career is a approach to help make the career is a approach to help make the class more of an experienceclass more of an experience

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3) Create Marketing 3) Create Marketing Campaign AdsCampaign Ads

Being able to tap into our creative design Being able to tap into our creative design part of marketing would definitely be a part of marketing would definitely be a great project for studentsgreat project for students

Producing a new, fresh advertisement Producing a new, fresh advertisement would bolster a student confidencewould bolster a student confidence

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4) Develop 4) Develop Sales/Management SkillsSales/Management Skills

Sales and management are also aspects of Sales and management are also aspects of marketing that wasn’t addressed in 188marketing that wasn’t addressed in 188

Developing these essential skills would Developing these essential skills would benefit students not as marketer but benefit students not as marketer but potentially as an executive of a companypotentially as an executive of a company

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5) Packaging Techniques5) Packaging Techniques

An activity involving students to invent An activity involving students to invent new ways to repackage or develop new new ways to repackage or develop new packaging would be enjoyablepackaging would be enjoyable

Once again tapping in the creative aspect Once again tapping in the creative aspect of marketing of studentsof marketing of students

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6) Shoot a Commercial6) Shoot a Commercial

A project that consisted of creating and A project that consisted of creating and producing a commercial would indeed make producing a commercial would indeed make the class more exciting and thrillingthe class more exciting and thrilling

Starring in a commercial or being a part of Starring in a commercial or being a part of something so exhilarating would be an added something so exhilarating would be an added bonus to 188bonus to 188

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7) Internet Marketing7) Internet Marketing

More of marketing is leaning towards the internet More of marketing is leaning towards the internet spectrumspectrum

Learning more about internet marketing in the class Learning more about internet marketing in the class would help studentswould help students

Introducing and applying these practices will help Introducing and applying these practices will help boost resumes and impress potential employersboost resumes and impress potential employers

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Project I Would Add to Project I Would Add to Make MKTG 188 a Better Make MKTG 188 a Better

Class: Class: New Product ProposalNew Product Proposal

By: Jaime KoyBy: Jaime Koy

Row 6Row 6

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Create a Product Create a Product

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Create Print Advertisement Create Print Advertisement

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Create Promotion Create Promotion

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Create SpokespersonCreate Spokesperson

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Produce Commercial Produce Commercial

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Create Social Media Page Create Social Media Page

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Create Extended Product LineCreate Extended Product Line