Mass Communications with game changing Social Media

JWI 518 Marketing in a Global Environment, Week10 Summary, 12/15/12

We learned a lot this week beginning with the goal of mass communications which is to grow the business and create millions of satisfied customers (JWI 518, week10 Lecture1). With Jack Welch's urging in the videos, and with the DQ, we probed the use of game changing social media in achieving marketing objectives. It is all about making customers win. Customer loyalty can be earned by constantly delivering intellectual capital that positions the customer with a unique competitive advantage over the rivals. With 4Ps of marketing and 5Ms of advertising decision making, any product that we come across in our lives can be analyzed to understand target customers and how they are being persuaded to make the purchase.

this training transforms me to think in new ways
Dr DP

JWI 518 Marketing in a Global Environment, Week10 Summary
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I. Mass communication (Kotler):
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Advertising - mission, money, message, media, measurement
Sales Promotion - short term incentive tools to stimulate demand, motivate sales reps
Events & Experiences - become a part of special and personal moments of customers in target market
PR & Publicity - public awareness of brand and image

II. Case study: Molson Canada Social Media Marketing, Qureshi
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Social media marketing campaign of Molson beer company was path breaking but ran into trouble. Stakeholders had different views, raised diverse concerns and Molson faced bad publicity.

III. Kaplan et al: Social Media
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Mobile social media will drive the internet going forward.
Businesses should recognize this trend and not miss this train.

IV. Welch video - Toyota
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How did Toyota handle their marketing and PR during the crisis?
Toyota dropped the ball in PR aspect
 - not forthright in comments - did not come clean
 - not clear about what happened
 - did a lousy job: lost some of the feeling of trust in brand
But after hearings, MEA Culpas, marketing of product around trust, response to consumers has been nothing but sensational. In March Toyota up 35% as a result of terrific candid consumer focused marketing building on the trust built over years

Lesson:
There are no secrets in business or anything.
Define yourself before other define you.
Put yourself out there; make the case - what happened, why it happened, what you are doing about it to fix it.
This is the role of every leader in a major corporation who gets into trouble

V. Welch video - Internet marketing
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Facebook, Twitter etc - Try them; get wet in them; experiment in new technologies; don't get behind the 8 ball. Book tour; when advertised on twitter, friends came; people followed us. So succeeded in a very small marketing expt.
In corporations there are all kinds of new techniques to be tried. New technology has changed the marketing game - can't stay out of it. Test the new technologies - where they will work and where they won't. Stay fresh with the new technologies.

VI. Welch & Welch - Is customer loyalty dead?
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It is not dead but is hell of a lot different than in the old days. Winning through tickets to ball game, nice dinner, disney world tickets - those days are gone. Cost, quality and service needs are typical way of dealing with customer demand.
But these are a given in the internet transparent world and not sufficient with internet transparent pricing and global competition. Your job - make yourself intellectually indispensable; be a real partner driving his success. Deliver intellectual capital. It is all about making customers win. Improve productivity through-put, new product ideas, and
give constant intellectual stimulation.Think about the customers competitors and drive the customer constantly into winning position eg. a new idea, transfer sales people. Give competitive advantage to customers no one else can.
Think: How do I make them win ? Enter into a relationship with the customer.

VII. JWI 518 Week10 Lecture1 - Mass Communications
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Goal: Grow the business and create millions of satisfied customers

5Ms of advertising decision making
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(1) Mission
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What is the Goal of advertising campaign? What is the target market ? what stage is the product in the life cycle?
Introduce a new product ? Remind viewers of brand image? Reassure customers of great choice ? Support other marketing channels ? Just sell the product ?

(2) Money
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Marketing capital ie advertising budget; mix of media; ad frequency to result in successful sales.

(3) Media
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Target market; budget per media; creative balance of needs and resources; deliver greatest impression for least amount of money. TV can deliver high impact emotional message. Internet reaches younger demographics better (although Tim's post suggests social network users are typically middle aged)

(4) Message
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- base it on specific logical and emotional satisfactions customers want
- people want hope; hope that they can change their lives for the better. You can get their attention by appealing to their hopes and dreams
- remind buyers of the satisfactions they want, promise to satisfy them, then use product features to prove you can deliver
- Sell the sizzle along with the steak
  Don't just parade the product features.
  Focus on "perceived value": more the customer will receive more is the perceived value eg: 2 for price of 1
  Influence Perception of value through quantity, quality, price, additional value, guarantees, social value
- Repeat, Repeat, Repeat: Repetition is critical
- medium and message are interrelated

(5) Measurement
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Measure advertising effectiveness - frequency, reach, circulation, eyeballs.
Know where advertising budget is getting wasted.
Figure out where you have the greatest ability to measure success of ad.

VIII. DQ1: Toyota Social Media campaign - Facebook and Twitter analysis
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Toyota's social media presence allows it to get closer to customers, communicate brand image and be ready for rapid crisis communications.

IX. Assignment - Marketing Plan
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Great drill to bring all elements of marketing together