Macy's & Hyundai: Millennials

For every second of every day that passes society moves farther into the future and the next generation of younger people becomes more and more important. Currently we find our society consistently concentrated on the millennial generation, which is made up of 80 million individuals and now outnumbers the baby boomer generation. When it comes to millennials a business may find that it is hard to spark their interest through just one simple marketing strategy, and the true way to spark a millennials attention is to market to them in multiple different ways. Two companies that are excelling at this type of approach are Hyundai and Macy’s. Both of these companies follow somewhat similar strategies when it comes to catching the focus of millennials. First they create some form of brand awareness and then they do something that is extremely important, which is marketing to the millennial consumer base in person at live events. For example, Hyundai knows that purchasing a new car is not popular among people of younger ages, so they create brand awareness by promoting their products in popular places, such as television shows like The Walking Dead. Once Hyundai has created awareness they continue promotion through live events related to these popular platforms. In the case of The Walking Dead, Hyundai created a live event at the New York Comic-Con and made an immersive experience for fans of the show with little bits of Hyundai promotion added in here and there. By doing this they are able to make a connection with consumer through a popular trend. A Hyundai representative explained the importance of the live event as “a way to fully surround this fan and this passion with our brand and the franchise.” Macy’s, in a similar fashion, invests in marketing in popular televisions shows. However, they then try to bring their product directly to the consumer at an event to show them in person what the product is like and to educate the consumer about their websites mobile capabilities through the use of portable electronic devices. A Macy’s representative explains the importance of their events as “Part of being relevant to the millennial consumer is being where they are with content that is interesting and engaging.”

Besides the creative event and marketing strategies of Macy’s and Hyundai, another company that has used the all-important live event to market to the millennial generation is Just for Men. Just for Men has creatively sponsored the National Beard & Mustache Championship at the House of Blues in New Orleans in the past. Throughout this event Just for Men planned out social media competitions to go along with the event, so that they could spread brand awareness. This type of event ultimately did just that for the company with their social media efforts creating a 15 percent increase in share of voice for the brand. Overall, a business cans see that creating unique events to market their product to millennials is one substantial way to break the ice when it comes to a generation with low levels of interest.

Sustainable Marketing Research Practices

Sustainable Marketing Research Practices

I had the great pleasure of asking current lecturer of Digital Marketing and AMA advisor, Andrew Dahl a few questions in regards to successful marketing research practices. Andy has an Applied PhD in Research and over a decade in the field of Marketing Research. When I asked where you should start when conducting a Marketing Research project his response was “You need to understand the purpose of the project, and what information you need to have to successfully complete the project.” He also noted that you not only know what information you need, but how you will go about getting that information; is it through surveys and focus groups or through secondary research, we must also know how to interpret this information and what it means to our project objectives.

We then discussed the various differences between focus groups and surveys. He explained how focus groups are best viewed from an exploratory perspective and should be used as a testing method for larger projects. What he means is we should use focus groups to explore how our target audience perceives a certain brand, product or other topic of discussion and how they can help us uncover other problems or topics that need to be addressed in our project. After conducting our focus group, we then get a better understanding of how our audience feels, leading to potential survey questions we could then ask. Qualitative research is mainly used to explore, quantitative research on the other hand is used to generate results and the interpretation of numbers.

Andy also touched on the importance of communication throughout project and how we should maintain an unbiased perspective to both our clients and audience. Whether it’s with an account that you are working with or your colleagues, you must have an advisory committee. This committee should consist of decision makers within your group as well as the clients you are working with. Andy also informed me a “Pyramid researching approach”, this comes from building your knowledge from bottom up. The bottom of the pyramid being the advisory committee, where we communicate our objectives, what needs to be accomplished out of a project. Then we move up to our secondary analysis, both quantitative and qualitative, all the way up to our focus groups, surveys. At the top of the pyramid is the refinement of our findings and then further analyzing our alignment with our overall project objectives. 

  

Research & Development

The Importance of Research and Development

Research and Development is quintessential to the innovation process, and ultimately the success of your business (or product).  Research and Development is an investment we make to help us expand and gain competitive advantages in our industry. R&D applies to all industries and all sizes of organizations. If you aren’t investing in further development, your competitors will (and probably are already doing such). There are some huge companies that you probably have heard of that are “top dawgs” when it comes to R&D, such companies include Intel, and Amazon. These two companies spend BILLIONS to help give them competitive advantages. Intel for example, is consistently always looking to make their technology run faster and more efficiently. Amazon, uses R&D to help with their customer’s experience and the supply chain side of their business (such as appropriate distribution locations and other services they can provide). Remember it is important to note that R&D can be implemented in ANY organization, regardless of size. Sure, you may not be able to spend money like Intel and Amazon, but by investing even a little bit, it will give you a competitive advantage.

Here are some key benefits of that R&D provides to organizations that implement R&D tactics.

1   The decision basis

2   Technology strategy

3   Portfolio management

4   Project strategy

5   Proper organization and process

6   Relationship with internal customers

7   Relationship with external customers

8   R&D culture and values

9   Improving decision quality

For more information, check out this article!

http://www.incrementalinnovation.com/innovation-management-development/rd-to-innovation

Disruptive Marketing

Disruptive Marketing

Geoffrey Colon, is a communications designer. Specifically, he studies the correlation between marketing, technology, and pop culture. He has a wide range of experience which includes, podcast production, public speaking, and working with Microsoft. He also speaks about how the traditional kind of marketing is dissipating, and how “disruptive marketing” has become more popular.

Disruptive marketing is the spread of ideas to people, from people, and it’s based on purpose, according to Colon. With the popularity of mobile devices, marketing is no longer limited to radio, television, etc. We are all “media”, considering how easily we can spread news and ideas by word of mouth. Another main idea, is that we live in a post-remix world. Companies no longer create their own messages, they reinterpret information being sent out by other companies. Next, Colon says to put people first, and remember technology is only a tool. Marketers usually make decisions that have to do with empathy, emotional intelligence, connectedness, motivation, and passion. This is a focus on behavior, rather than technology or other platforms. With the growth of technology, Colon also brings human connection to attention. He says that people crave it now that we are extremely technology based these days. Also, it’s important to remember that personalization is a must. Since it would be difficult to know exactly what everyone wants to buy, it’s useful to stay away from using stereotypes to determine the wants and needs. Artificial intelligence is helpful to uncover those wants and needs. Lastly, Colon says that the Internet of everything is on its way. It has transitioned to enhance digital content with huge companies, and soon it will transform into something that isn’t defined by software, but by partnerships. This promotes more and more collaboration, which will help companies share ideas and stay connected. 

Market Research

How Technology Has Changed Market Research

It is no doubt that technology has changed the way we live our everyday lives, they help us become more efficient and versatile. But in reference to marketing research, technology has help provide more opportunities as well as potential challenges. In this article, the author discusses 5 ways technology has changed market research.

1. Social Media: Twitter, Facebook and LinkedIn opportunities for companies (and individuals) to conduct their own market research on any particular subject. For instance, consumers can look at reviews of previous buyers or price compare similar products. Social media has also offered the opportunity to reach out to a specific brands and ask them questions about products.
2. Data Collection improvements: Although traditional methods such as focus groups, personal interviews and surveys are still relevant today. We have the fastest access to real time data collection there has ever been!
3. Enhanced Data Analysis:  With increased speed of data collection, there has been many advancements in the quality of the data analytics and the ease of  interpreting the data.
4. Creation of New Research roles: New roles are being created in the job market for interpreting SEO and Social Media Analytics
5. Big Data Informs Research.   The ease of Big Data Informs marketers with fast and reliable data. There is large pool of data that can be very useful for marketers when conducting their research.

http://blog.marketresearch.com/blog-home-page/bid/339928/5-Ways-Technology-Has-Changed-Market-Research

Article Summary

Disorder in the House: Meeting Trends for 2017

              Certain aspects of business interactions are changing especially meeting environments and hotel economy in particular. Meetings are no longer geared towards exchanging information between those attending. That being said, context is now more important than content. The traditional type meeting would most likely include just a single person talking and informing others at the meeting about updates on business or a particular company. Most of this knowledge can now be found online, which almost eliminates the purpose of a meeting. However, meetings will always exist because the only thing that is being tweaked is the structure of the meeting and what goes on during that certain time period. The current layout of a meeting includes more time for conversation and networking rather than just an educational session. Business is always evolving and technology is constantly changing. It is easy to accept that meetings are changing as well.

              Hotels are currently experiencing all-time records in attendance rates. The number of people traveling for business these days is pretty substantial as well as crazy to think about. Occupancy rates have been through the roof. At one point in 2016, hotel rooms were completely sold out for 77 nights in the U.S. This may lead to difficulty in booking a room block or finding a meeting space for upcoming conferences. Being aware of this is definitely useful information because it is important to think ahead and plan accordingly. It may be a good idea to have conversations with hotels in advance and set something up well ahead of time. Another good idea would be to consider scheduling an event for Sunday through Wednesday because hotels are not as busy on these days so rates are lower and there will be more rooms available.

              Food costs can be a concern during conferences as well. Coffee and beef prices were on the rise from anywhere between 50 and 60 percent during 2016. Menus are costed out to achieve a 35 percent profit margin. A simple solution would be to ask for a meal of lower price. If your budget per person is $100, ask for a $90 meal. The chief will reach the 35% margin as well getting high quality food. It is important to keep in mind the types of foods that conference attendees are interested in eating. Healthy options as well as pork or pasta are a few in particular that are currently popular. Taking all of this into consideration when planning out a conference will ensure that everyone is happy. 

VR Marketing

Virtual Reality Leads Marketers Down a Tricky Path 

As we enter the modern age of new emerging technologies, the constant changes and additions in the market are promoting new opportunities, and challenging marketers with the decisions of capitalizing on these technologies or going on without them.  One of these interesting new concepts that marketers are facing is virtual reality.  Virtual reality has proven that it can be a game changer in different industries from a marketing perspective, while also being a money pit for others. 

Marketers can use this VR technology to give consumers a unique experience that they are likely not able to get anywhere else.  For example, in 2014, Dos Equis, a beer maker, created a virtual reality masquerade party where the participant could experience flamethrowers, and acrobatic dancers amongst other interesting activities.  By giving the user this one of a kind experience, the companies can provide something that others cannot provide, as well as something that the participants will likely not see in the real world. 

On the contrary, companies such as the e-commerce giant Alibaba have found their efforts in the realm of virtual reality to be costly and criticized.  The company had created a virtual shopping mall where participants could walk around and experience the mall on the VR headset, which was not adapted very well by users due to the fact that you can simply do it in real life with little trouble.  These experiments can be very costly if not successful considering that creating a virtual environment often starts at around $500,000, as well as a cost of $10,000-$100,000 to create a 360 video.

Overall, as more and more consumers adopt this new technology, the focus on VR may become more intensive and competitive and cause an increase in spending on this segment.  Depending on the use of the technology, VR can be just the boost you need in the marketplace, or it can be a company’s downfall.  

B2B Marketing

Why Oracle’s Quest to Evolve Open-World Might Transform All B-To-B Events

Oracle and Mosaic have been slowly starting to change how B2B events are ran over the past few years. Over the next several years the will be implementing Phase One of a new strategic blueprint to completely reinvent and reimagine the modern B2B event. Phase One consists of 3 main areas: redesigning collaborative spaces, deploying an all new story-telling strategy and rethinking event learning. For space, OpenWorld are designed as open attendee to attendee engagement spaces. They are bringing in new food and concession areas to get attendees to stay for lunch and converse with others. General sessions were live streamed so attendees could listen to the keynote while soaking up the sun. For the storytelling, they are bringing more content and embracing this “storytelling” strategy. Mosaic has been interview executive, customers, social media influencers and more turning it into content stories. “The flaw with current b-to-b events is that the conference ends up being dependent on the content created at the event. We’re flipping the model and creating content and a story in advance and then using the event as the platform for providing a branded narrative” says Oracle vp-marketing and industry vet Paul Salinger. The last new area of improvement is rethinking the learning. They are creating Collective Learning, which has test sessions featuring multiple interactive zones built around discussion, personal reflection and information sharing. They are even having all the speakers go through a public speaking training before the event. “So we’re putting learning at the heart of the experience”   says Mosaic creative director Khaleed Juma. Overall, Oracle will continue to focus on evolving the common spaces, bringing to life more elements of peer-to-peer networking and reformatting the event schedule around the changing attendee base.

Sales Blog

New Product Entrance 

When a new product enters the market, there is an increase in sales to early consumers, but soon after the product loses its popularity. When trying to sell your ideas and products to people you have to change not only what they think, but how they think. Mark Bonchek stated, “Mental models are how the brain makes sense of the vast amount of information to be processed every moment of everyday” (Paragraph 3). Taking time and being able to visually see something in front of you helps the buyer have an understanding of what they are going to buy. This is a problem today because everyone people are just sending emails and not explaining things in person or over the phone.

Dr. Ignaz Semmelweis and Louis Pasteur showed that mental models can change the way we see the world around us. Successful companies know how to shift consumer’s thoughts about themselves and their products. Steve Jobs’ quote, “think different” (Paragraph 7) is something that salespeople need to take into consideration because they need to be more personal and care about the individual they’re selling to. An example of this would be Salesforce.com, and how after implementing the mental model they were able to succeed. Having the leadership of a company following this model helps them succeed, but shifts in thinking can challenge the prevailing model.

There are three main steps in making the mental model work for a company: First, identify the underlying shift in thinking. Second, determine how mental models aren’t sticking to make you successful. There are three main areas to focus on within the second part of the model are Present, Future, and Transition. All of these are related to how the model works today and what the future brings for this product. Finally, understand that shifts in thinking don’t happen overnight. Albert Einstein once said, “We cannot solve our problems with the same thinking we used when we created them.’ Companies that help customers shift their thinking will be more effective at solving problems and ultimately selling products’” (Paragraph 21). Continuously following up with a customer and interacting with them to allow them to see their new thinking habits in different contexts and situations. 

https://www.linkedin.com/pulse/dont-sell-product-whole-new-way-thinking-prashant-dedhia?trk=v-feed&lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_content%3BP5HY7FjgsDT6MWhs4tJZvA%3D%3D

Event Marketing

Amazon

Amazon Studios decided to experiment a unique way to raise awareness for their new series, “Z: The Beginning of Everything.” They decided to set up 20s inspired events in select Drybar salons and upscale Prohibition-style speakeasies in Los Angeles and New York City.  The events were held days before the series aired on January 27.  The events highlighted some branding from the show that symbolized the Prohibition era of its main character, Zelda Fitzgerald.  Planning events like these take a lot of careful consideration and preparation.  There were many small decorations and effects Amazon Studios used to help promote the new show.  The speakeasy takeovers had open bars, bartenders and actors dressed in ‘20s apparel.  The events also featured fan dancers, burlesque performances, and jazz music.  The bathrooms were labeled as either “Zelda” or “F. Scott”, who are both characters from the show.  The guests got to take photos in a ‘20s photo booth, and received a black flask with a “Z” printed on it.  The first two episodes of the show aired at Drybar salons in Chicago, Los Angeles, and New York City.  Guests received free blowouts and ‘20s style hairpieces to add to their hair.  The different, unique techniques Amazon Studios used in planning these events is what made the promotion of the show so successful.

http://www.eventmarketer.com/article/amazon-studios-prohibition-era-female-viewers/

E-Commerce

         Zappos

     Online retail brand Zappos is taking its online shopping experience offline and on the road in a “Friends with Benefits Road Show.” The cross-country trip aims to bring a high-tech retail experience to consumers. Zappos’ plan is to travel to one city every month up until the end of the year.

          At each city, Zappos will have a 40-foot shipping container that has been transformed into a mobile store which sells men’s and women’s clothing and accessories. The products sold are based on data of what products, brands and styles sell best in that city’s market. Throughout the shipping container, Zappos has installed Bluetooth access points to allow shoppers to scan products into the system which will store the products into a shopping cart.

          In addition to the high-tech retail experience, local fashion bloggers and experts will be on-hand to offer styling advice. Shoppers will have the opportunity to take advantage of the backyard patio space attached to the shipping container and local food truck vendors on-site. In the evening, Zappos will host a happy hour with drinks and performances by local musicians and djs. Furry friends can also get in on the action as Zappos partners with local animal welfare organizations to host pet adoptions days.

          Zappos senior brand marketing manager Kristin Richmer explains that one of their main goals of the road show is to get the chance for face-to-face communication with their customers. 

Event Marketing

Audi Event

Audi, a famous German car manufacturer, continues to make new strives in the American luxury car industry and they owe their continued popularity to their expansive experiential marketing. Over the past few years Audi has used experiential marketing in their playbook of continued excellence through the company’s senior manager-events and experiential marketing, Erin Keating. Keating has explained that events such as auto shows, sponsorship events, and specific Audi dealer events have led to their success. One of the most successful aspects of these events has been the fact that Audi puts on these events in a uniquely Audi way. When it comes to sponsorship events, one of the most unique things that Audi does is that it doesn’t just put its name on an event, such as a soccer or ski competitions, which Audi has been a long time sponsor for. An example of Audi’s uniqueness is when they sponsored the 2014 Audi Football Summit. Keating said, “Some people would go out and maybe just sponsor their local soccer team or maybe just be the official vehicle for MLS. We actually put on our own proprietary soccer match where we bought out an entire stadium and ran it on ESPN in prime time” (O’Loughlin, 2017). Beyond sporting events, Audi’s uniqueness is unmatchable when it comes to dealer events, as well. These events for Audi are award winning and uphold the company’s reputation on attention to detail. This is noticeable in the company’s 2011 dealer event, in which Audi unveiled six new vehicles. Instead of holding the event at convention center or at the usual large venue site, Audi instead held the event on Alcatraz Island in San Francisco. The event included sleek Audi-branded beverage bars, a chartered yacht and jail cell tours. To pull of such an event Audi had to transform main rooms in the jail into innovative spaces that included food, LED lighting, bars, and tea lights, and the company needed to ship over power, water, golf carts and food to the island by barge. Simply put, Audi focuses intensively on detail for any event that plan to create an atmosphere like no other. In doing so Audi is able to enhance their marketing tactics to American consumers and maximize their company’s potential. 

Nostalgia Marketing

Nostalgia Marketing

Nostalgia marketing has been a trending technique in the world of event marketing recently. Nostalgia marketing invokes the warm feelings about how good life was “back in the day”. Brands are quickly jumping in on 90s-themed events, connecting consumers emotionally with the products that they fell in love with many years ago.

              Crystal Pepsi was a product launched in 1992 that consumers went wild for. 25 years later they went wild for it again at Crystal Pepsi Summer of ’92, an event that Pepsi put on to re-launch their iconic soda. There was many activities for fans to do that brought them back to their 90s roots. They were able to get their hair crimped and cut and then hit the “Recess”-themed playground. There were pogo sticks and Skip It to challenge your friends to see who was the REAL 90s kid. If Crystal Pepsi wasn’t your kryptonite, no worries 90s kids! There are plenty of events out there for you to go back in time. If you remember “Total Request Live” on MTV MTV set up a TRL obstacle course that doubled as voting registration to get more young adults involved with the election.

              Are you thinking of the fun games and good times you had growing up with your friends? Then the nostalgia marketing is appealing to you, as it is with all of your 90s buds! The 90s were really all that and a bag of chips, and the companies capitalizing on this marketing technique are raising profits AND raising the roof!

Eau Claire Regional Conference

Pursue Your Path

Another Regional Conference for the books! A huge thank you to UW-Eau Claire for hosting a successful, fun-filled day! The morning started with a career fair, which gave us a chance to network with a number of different companies. Later that morning, we attended two keynote speaker presentations from Impact and Royal Credit Union. The afternoon consisted of four breakout sessions with representatives from Royal Credit Union, T-Mobile, Country Jam, and Elsevier Clinical Solutions who answered questions about a career in sales. Two former UW-Eau Claire students were also there to offer tips for transitioning into the real world after graduation.

Four competitions were held throughout the course of the day, including Perfect Pitch, Marketing Strategies, Cold Call, and Mock Interview. UW-Whitewater placed 2^nd and 3^rd in Perfect Pitch, 3^rd in Marketing Strategies, 1^st and two 2^nd places in Mock Interview, and 1^st – 6^th in Cold Call. Great job to everyone to participated and represented Whitewater!

Sales

When is the last time you sold something? You think you might not have ever even sold anything to anyone, but in reality, you have. When you ask your parents for gas money, or if you can throw that package of cookies in the shopping cart, you are selling.

Now think, have you been an effective salesperson? If yes, keep it up. If no, an article from Entrepreneur has a few tips to improve. First, lead with a question. This will allow you to figure out answers that might be necessary to what you want to know. Second, do not think that selling is a negative aspect in life, or a bad job. Sales is what you make of it, and it can be a way to help others. Finally, always look to solve a problem. This will allow you to not give up, and to find an opportunity to make either your life, or someone else’s, better.

What do you think you find yourself selling the most?

How do you think you can improve your selling tactics?

Source: https://www.entrepreneur.com/article/270738 ​

Segmentation

Psychographic Segmentation

Although there are plenty of ways to segment your target market easily on the basis of demographics, it is important to remember to keep in mind the use of psychographics, or lifestyle segmentation. 

Demographics such as age, gender, and income are tested methods of segmenting to find your target market, however they lack an essential aspect of the buying process. Why are people buying?  You may know that somebody is 40 years old with a baby, and they are in the market for diapers, however what this information doesn’t include is the fact that the family might require a specific feature to accommodate their needs.  This can be a tricky way to segment however, due to the unavailability of this information.  However, this vital information can be found through focus groups, in-depth surveys, and can be used to help develop a brand identity that appeals to the needs of your specific audience.  These methods, although generally more costly, will provide you with vital information as to why the consumer is willing to buy your product over the competitor.

Overall, it is important to segment your marketing towards your target demographic, however by integrating psychographics into the mix, you will be reaching the proper audiences who are looking to buy your product with the most success.

http://www.marketing91.com/psychographic-segmentation/

Green Marketing

The importance of Green Marketing

In the cutthroat world of marketing, businesses and marketing professionals are constantly looking for a competitive edge that will put them at the top in the eyes of the consumer. Green Marketing can be a cheap, yet effective way to do just that.  With more and more consumers becoming more environmentally conscious, appealing to this sense can make your product or company stand out from the competition.  Green Marketing comes in a variety of different techniques including, but not limited to, using renewable energies, creating more environmentally friendly products and packaging, and also voicing your stance to the consumers.

Many large corporations and small businesses have begin to make the switch to more sustainable practices and reaped the benefits of being seen as more ethical and environmentally considerate, often times at a reduced cost on their energy bill to top it off.  However being sustainable should not be limited to only role in the supply chain.  It is widely considered that in order for your green marketing strategy to be as effective as possible, vertical integration of eco friendly practices should be encouraged throughout all aspects of marketing, ranging from product development to customer communication.  Green Marketing also extends even after your product leaves your possession and should be effectively communicated to the consumer.  By encouraging the end customer to carry on the practice of sustainability by different methods such as recycling or reusing, your brand will stand out from the competition, and be seen as environmentally sustainable.

There are countless different Green Marketing strategies, which can range from slight changes to complete manufacturing overhauls, but regardless of how you do it, Green Marketing is becoming a serious force in a rapidly expanding eco friendly society and should not be taken lightly.

 https://www.linkedin.com/pulse/20140818142207-41390803-the-importance-of-green-marketing

Entrepreneurship

Being young business professionals, some of us begin to think as entrepreneurs. We often find ourselves talking to our friends about that “million-dollar start-up idea”. This idea could be something you thought about randomly in the shower, maybe a new product or a service, maybe a new app or an idea for a new patent.  It is good for us to maintain a creative entrepreneurial mindset and way of thinking. But before we get too carried away with our “million-dollar idea”, it is important to do our research.

Did you know that 9 out of 10 new start-up businesses fail?  Out of that 90 percent, 42 percent fail because they failed to create a product or service people actually wanted. No matter how good you think your idea may be, you must make sure there is a market out there that will be interested in your new product or service.

In this article author, Ray Beharry says that “researching your idea is just as critical as having it to begin with.” He also provides 4 Phases of Marketing Research to Ensure Success.

1. Identify the problem you’re solving. How will this product help solve the problems of consumer’s life?

2.  If you think you’re idea is a good one, can it answer the question   “ can I actually build a product/service people want?” Obviously, it is very important to make sure your target audience has a want for the product or service, and is willing to pay for it.  You should gather both qualitative and quantitative information about your target audience and think of as many alternatives, and problems you and your start up might face.

3. Adjust according to customer taste. By doing this you will make consumers loyal customers. It’s very important to continue to adapt to the customers wants and needs, don’t stop asking for feedback and continue to try to improve.

4. Turn traction into momentum. Nearly 70% o startups fail due to premature expansion. Stay focused on your business model, and don’t try to expand too soon.

https://www.entrepreneur.com/article/281815

Marketing Research

Gaining the Most Out of Your Marketing Research: A Marketers Almanac

 One of the most important things marketers need to do when conducting their marketing research is to fully capitalize on your researching resources. This article (credited below) is a great synopsis of seventeen different tools and resources us Marketers can utilize when conducting research.  There are dozens and dozens of other valuable resources marketers can utilize, but for the sake of simplicity we will summarize a few.

The first six resources on Miss Oetting’s top seventeen are FREE resources that marketers can use to gain valuable and concise data for our research. Examples of these resources include: Google Almanac, American Fact Finder, Country Business Patterns and more! These are valuable for segmenting your target market and can help you understand the direction you may want to focus on. 

Resources six through ten, had a free standard option (with limited capabilities), as well as upgradable versions users could buy at a relatively low cost. These are some common resources we have been exposed too such as Survey Monkey, Survata, and Qualtrics.  These types of resources are valuable in the simple form. But if you chose to invest in the small fee, it can take your research from good to GREAT!

Article Reference from:   https://blog.hubspot.com/marketing/market-research-tools-resources#sm.00001i9jdoa99rde0ttnjr2wq3dkk

Retail Marketing

For many in sales, the year to year goal is to always improve on the previous years’ number. With that being said, what should a sales person do when they fail? Per Colin Nanka, the best course of action is to embrace the failure. Colin cites his experience with the market downturn of 2008 and 2009. After taking a vacation to clear his mind he came up with a few tips to help other salespeople recover from a down year.

The first tip is to own failure. Just because someone fails doesn’t make them a failure, learning to recover is crucial. People need to fail to fully understand their strengths. Being able to fail shows that a sales person has grit. Having grit is the ability to go the extra mile when someone feels that they have nothing left. Being able to put in this extra work is imperative to being successful. It teaches someone to not quit but also to go the extra mile when possible. Furthermore, it is important to accept difficulty. If anything in life was easy everyone would do it. To have success, one must be able to accept and embrace the challenging aspects of the job. Lastly, it is important to invest in yourself. Find out what your strengths are, and train to improve your weaknesses, nobody improves without improving themselves. 

 https://www.salesforce.com/quotable/articles/rebound-from-bad-sales-year/

Integrated Marketing Communications

Why use an Integrated Marketing Communications (IMC) Strategy?

The marketing world is rapidly changing with the emergence of new social media platforms, mobile applications, and new ways to reach consumers, so we must find new ways to fulfill these needs.  Not only is it important to create a new and creative marketing strategies, it must be consistent throughout all selling and advertising platforms to be effective; this is the idea behind IMC.  When paired with successful and cohesive branding, IMC will allow customers to receive the same message across all social media platforms, experience a convenient and smooth shopping experience regardless of if they are shopping in store, on a laptop, or using a smart phone, and an overall fulfillment of the consumers need of a hassle free experience. 

Nike is a great example of a successful IMC program.  Since the inception of the slogan, “Just Do It” in 1988, the company has successfully brought together its vast number of media platforms under this one concept.  In the competitive world of sporting goods, Nike has been able to hold its market share without having to consistently change or revamp its marketing efforts due to the integration of its brand and marketing strategies.

In conclusion, by using a well-structured IMC strategy, you can ensure that customers will get the right experience regardless of the medium that they use.  Additionally, you will find that IMC provides competitive advantages including financial rewards, and the ability to perform at a higher level with the cohesiveness that comes from IMC.

http://www.stephenzoeller.com/why-use-integrated-marketing-communications-approach/