In Hind Sight

This past semester has brought many lessons and insights into the world of marketing.  There is still much to know about this topic, but the information I have acquired over the past 11 weeks or so has been very beneficial and will aid me when I find myself in related professional settings.  Over the past months a lot has been covered, especially the kinds of mediums of marketing there are, and which ones tend to be most effective.

http://lezal.com/wp-content/uploads/2013/10/Phoenix-Media-Buying.jpg

When it comes to which type of marketing is recognized the most, it is hard to disagree with Television commercials.  I have learned that this is the channel of communication which reaches the most demographics as most people have TV's in their homes.  Televisions are also in public places too, such as restaurants, stores and other establishments.  Radios also have this in common, however we are more prone to be in tuned visually than audibly.  

If we are talking about which mode of marketing is most effective, thats a little bit of a different story.  Although for the past 50 if not more years, TV would be the answer to this question as well.  However, technology has come a long way since the early 50's and with the invention of the computer, advertising has taken a different approach on how to reach a specific target market.   

Social media is quickly taking the world of advertising by storm and is becoming the best way to advertise to people.  As stated in the video below, half of the worlds population has grown up not knowing life without the internet.  This number is only going to grow and more people are going to transition over to using social media marketing.  The video below goes into a little more detail about the topic, feel free to check it out.  

https://www.youtube.com/watch?v=yDA864UskXc

Much of what I have discussed in the blog posts I was able to due to the background knowledge I received in the classroom.  Although, I truly think that about 90% of what you are going to need to know about a job comes from on site training and experience, I believe this course gave me a healthy dose of what I can expect when it comes to marketing.  Among the most important topics that we discussed the most important to me were; Ch.1 Creating Customer Relationships & and Value through Marketing, Ch. 5 Understanding Consumer Behavior, Ch. 9 Market Segmentation, Targeting, and Positioning, Ch. 13 Building the Price Foundation, and Ch. 15 Managing Marketing Channels and Supply Chains.  

In chapter one we were introduced to all of the basic concepts of marketing and how communication is one of the largest elements of it.  In chapter 5 we learned about the consumer purchasing decision process and about the different influences on consumer behavior.  Knowing about market segmentation and the five steps associated with it is all what chapter 9 was all about on top of product positioning.  Chapter 13 discussed what went into pricing a product along with the demand curves role on pricing, and price elasticity.  Finally, in chapter 15 we learned about the different marketing channels and what goes into the decision of choosing channels.  

These all relate to my pasts post because I have referenced information from the text in my blogs.  Throughout the course of this assignment I learned a lot, not only from reviewing course material, but through personal research for these posts.  

Thank you to everyone who has taken the time to read these posts, it has been a pleasure writing for you.  Until next time, good luck with any marketing ventures in your future. 

- Alex   

Sports Sponsorship and Advertising

Sports Sponsorships and endorsements are probably the biggest thing that puts some athletes in the position that they are in.  Athletes such as David Beckham and Kobe Bryant are amongst the biggest sponsored players of our time.  This whole ideas of companies paying individuals and giving them free merchandise in order to build brand awareness is absolutely brilliant. Growing up as kids, we all aspire to be like our favorite athlete because these are the people we look up to at that age.  Applying this concept to a marketing technique and turning it into an opportunity for selling a product can be considered one of the most effective marketing methods out there.  Here is a picture of Beckham and his sponsor in the background.

http://jasminedotiwala.co.uk/wp-content/uploads/2014/01/david-beckham-launch-Adidas-Originals-55.jpg

Athletes all over the world can get paid up to millions if a huge company comes along and decides that they want to sponsor them.  Only athletes that are of a certain caliber receive this opportunity and recognition.  When consumers see that their favorite public figures are rocking a new pair of nike's or hitting a new set of Taylormade clubs, they are going to want to go purchase that item.  It may not feel like you are being influenced by somebody else but it definitely plays a huge role in marketing, otherwise so many companies would not continue to sponsor athletes today.

One of the biggest names in sports when it comes to sponsorships and endorsements is none other than Tiger Woods.  Before the scandal broke out he was sponsored bye Nike, EA Sports, AT&T, and others all at once.  A perfect example of a bunch of different companies advertising through one person.  Almost like a co-op one could argue.

Sometimes, athletes will agree to do commercials for certain products or services as well.  This is probably the most effective way in which a company can sponsor a player, if they can get them TV time outside of their profession.  Here is one of the most classic  examples of this idea.

https://www.youtube.com/watch?v=0r5Jf_ZU9eA

Athletes are people that we tend to look up too in todays society.  When companies take advantage sponsoring athletes they are engaging in one of the most effective marketing campaigns they can.  Sports sponsorship is something that will be around for years to come, and I can't wait to see how it will be affecting companies in the future.

Music and Its Role in Marketing

Music plays a major role in all parts of entertainment whether it's the faint sounds of elevator music or live in a concert.  When you take the time to think about it, no other source of entertainment would be the same without music.  Imagine watching a movie with no music to support the actions or help the story along.  That would be the most lifeless movie since silent films.  Imagine trying to watch your favorite TV show and there is no intro music, or filler for the silent areas.  The fact of the matter is that music is the best compliment to most other forms of entertainment.  This post will further discuss how it specifically plays a part in marketing.  Here is an example of a movie that makes great use of music to go along with actions, the very famous Rocky. 

Music has been around as an advertising tool for years now.  Marketers have figured out that certain types of music affects the way people shop.  This is why when you go into a super market, or department store, more often than not you will hear music in the background.  There is a psychological effect on us while we subconsciously listen to music and go out shopping and this is why this method works.

This method of getting consumers to spend more while buying is also used to affect the employees.  "...background music is thought to improve store image, make employees happier, reduce employee turnover, and stimulate customer purchasing"(Milliman).  This goes to show, that music has an effect on both sides of the spectrum.  This form of entertainment not only influences the purchasing behavior of consumers but also allows workers to be more efficient and improve quality of life while on the job, which is extremely important.  

It is also common for stores to employ certain techniques when it comes to playing music.  For example, Target could try to play a more mellow type of music during the day on a weekday, but want to play more upbeat or hip music for younger crowds on the weekends.  There are other stores that don't pay as much attention to detail and will keep the same playlist or CD playing for the entire day.  This may not have a wearing effect on the customer of the store, but rest assured getting as far away from work will be the only thing on your employees minds after a couple hours of the same songs.

Music has always and will always continue to make a difference in the way we advertise and market products.  Even when we are not paying attention, or don't believe it is having an effect on us it very well can.  There is an entire subconscious aspect that goes behind this mode of marketing, and it is the mot important part to understand in order to get the bigger picture.  Using music as a marketing tool is a great way to attract customers and keep employees going strong.





Sources :

http://www.jstor.org/stable/1251706?seq=1#page_scan_tab_contents (Milliman)

How Social Media has Impacted Marketing

Social media is a rather new form in which we market our products.  One could even argue that it is one of the most effective ways we do so as well.  Although it is relatively new, it is also one of the fastest growing ways in which we market in history.  Sites such as Facebook, Twitter and the like are examples of social media sites that practice advertising on their pages.  In this post I will talk about how social media advertisements started and how it applies to marketing today.

http://justmedia.com/blog/wp-content/uploads/2014/01/social-media1.png

Huge social media sites today did not always have advertisements in their early stages.  However, in order to employ the number of people required to run an operation large enough to sustain such a site, it is necessary to have quick ways to make money.  Advertisements are set up on sites so that companies can pay for different magnitudes to which their ads reach.  When businesses first began advertising on social media sites, it was a gamble on their part.  People were skeptical about it, and thought that it would take away from the experience of the sites.  But ,any advertisements have proven to be very successful.  Aside from ads you see in the margins of your facebook page the most successful type of ads are videos/commercials.  It is easy to say the YouTube is the home to most of these advertisements and can be easily found.  

Here is a video of one of the most watched commercials online of the year, and with its attached hash tag; #FriendsAreWaiting, which has generated a large number of responses to the commercial.  

https://www.youtube.com/watch?v=eubWYPhcEEo&t=21   

YouTube gets paid for every commercial that it runs before their youtube videos, and millions of these videos are being played everyday.  There is also now technology being developed where search engines such as google are able to memorize what it is you are looking for and suggest similar or related products.  This is a whole new level of marketing as now companies are able to see trends and know what the consumer is going to like.  Then companies will adjust their marketing strategies accordingly.  Pricing is especially important for social media sites because it is going to be the first thing, aside from the product, that the customer is going to look at.  

When I am scrolling on Facebook, very often I will come across for an item I had viewed on an online store.  This is an example of the same technology discussed previously.  But it is not only Facebook that is partaking in this, it is almost every popular social media website out there. 

http://idaconcpts.com/wp-content/facebook-ads.gif

The picture above discusses one of the reasons why advertising via social media, and specifically Facebook, can be beneficial.  Most companies these days have their own, if not several Facebook pages, because it is a direct way to keep in contact with your customers and be able to advertise to them in a much more efficient way.  

Social media is one of the most accessible and quickly growing forms of advertising and it is what is going to be adopted for generations to come.  Use of social media is a great tool to stay in touch with customers on an individual basis and is also a great way to collect data and information about what exactly customers want,  but what certain customers tend to purchase or relatable products.  

   

Here is a quick video that gives a detailed explanation of how advertising on Facebook can benefit a business.

https://www.youtube.com/watch?v=CzIkKOlaAxU

  

How TV Revolutionized Marketing

Since the beginning of television commercials in 1941, TV has been one of the most pivotal ways in which we market products and services since the start of advertising.  Being that almost every American home has a television it makes it one of the easiest ways to advertise a product to every family across the country.  Today I will discuss how and why TV has made such a major impact in our world of business and how it will affect marketing in the future.

 http://upload.wikimedia.org/wikipedia/commons/c/c5/RCA_630-TS_Television.jpg

The first television commercial commercial aired in 1941 and was only ten seconds long.  With a picture of a clock and a logo, the voice in the background says, "America runs on Bulova Time."  Since that very simple TV ad, commercials have become more creative and effective.  The following are examples of an old commercial and a more recent one.  

*Sorry it's not embedded, sight wasn't allowing it*

(1951)

https://www.youtube.com/watch?v=g3U-FdtrZ_Y 

(2015)

https://www.youtube.com/watch?v=eHpt2MPcIqM

Aside from the obvious visual advancements commercials have changed in other ways as well.  In the first commercial, Ford is advertising how durable their 1951 cars are and targeting families, where as In 2015 they are selling more of the look and performance of the car and most likely targeting urban commuters.  This is just a quick example of how television ads have changed over time. 

TV's themselves have changes over time as well.  From the first box TV to the flat screen and now to these slightly curved televisions.     

http://216.7.174.214/6EuIe7oEiI/M280131.1.jpg                                   http://www.samsung.com/us/glossary/img/LED800065.png   

http://media3.onsugar.com/files/2014/01/06/985/n/1922507/82c16ff82bc6406c_Curved_UHD_U9000__Front_re.jpg.xxxlarge_2x.jpg

I remember when my family first bought a flat screen TV.  I was so excited to be able to start watching things in High Definition.  In the coming years, we are going to be completely converted to HD and it will be interesting to see what effects TV's and commercials are going to have in the next ten years, and if and how the new curved TV's will have any affect.  The way that these televisions have looked also coincide with the style of the furniture in homes.  Flat screens fit with most contemporary furniture, while these curved televisions might go a little better with what style of furniture is going to be around in five or ten years.      

As televisions became more common to own, they continued to grow as the best way to reach the most Americans.  Over the course of the past 60 years commercials have also grown from boring two minute infomercials to creative and sometimes entertaining clips about products.  Commercials have even been integrated into one of the most popular holiday cultures every year, The Superbowl!  I personally look forward to seeing the commercials on Superbowl Sunday because some are very funny and witty.   

These instrumental entertainment systems have forever changed the way in which we advertise products.  With the advancements of color and technology watching TV has become as realistic and clear as human vision.  Older televisions had a very grainy picture and it was somewhat distorted. Just as televisions have changed in style, so have commercials, keeping up with what is current and going to be most popular.  Televisions can be found anywhere, in gyms, restaurants, offices and so on.  The reason why TV ads get results is because Americans are constantly looking at a screen.

Thanks to all of you who take the time to read these posts, please look out for future ones!     

Reviewing the Radio and its Influence on Marketing

The radio is a method of marketing that has been around for decades.  When advertisements began to be integrated into radio shows, marketing became possible on a whole new, and much larger scale.  For the first time in history, information about products could reach large amounts of people and would be more effective than any other form of advertising before it.  The radio also plays a large role in advertising today, however, other techniques have been developed that are arguably better than the radio, such as social media and TV.

"In the 1930's consumers were hit with a growth in radio advertisements.  Advertisements actually aided in the growth of the radio itself" (...Radio).  It was ideas introduced during this period that drove the radio to become what it is today.  Back in the day, radio shows would advertise products in the middle of broadcasts and get paid for doing so.  Since then, the shows today will take a break from their broadcasts to go to a commercial made by the company of the product being advertised.  This is what marketing has developed into in reference to the radio.

 

http://www.aljazeera.com/indepth/interactive/2014/02/interactive-radio-history-201421310356539864.html

The radio is a good source for advertising products that don't necessarily need to be seen.  Most of the time goods are better marketed over TV and services are more suited for radio.  Knowing this can be beneficial to companies that utilize radio for advertisement because consumers want to see what they are buying.  If they can't see what is being advertised they wont be interested.  Most of the time, radio advertisement target commuters and people that spend a lot of time of in their cars, such as stay at home mom's and other demographics.

This form of communication is a really good source for conveying the 4 p's of Marketing, however, it is not affective in displaying what a product looks like.  This is why TV and internet are more efficient means of advertisement in this day and age.  They are able to reach more people and are the most popular forms of entertainment.  However, radio gets the job done and is still used by businesses everywhere.

There are some companies that are even trying to incorporate both the use of radio and internet in an effort to market their products.  Pandora is an example of an online radio that has short advertisements in between every so many songs.  Youtube is another example of this, however, it does not carry out the standard radio format.  The listener has control, which is why they are so successful.

                 http://www.markramseymedia.com/2011/05/yes-pandora-is-radio/               http://bgr.com/2014/09/02/best-new-youtube-features/

The radio reaches millions of people everyday and it is more affordable than TV ads.  With a strong radio campaign, a business can have success and an increase in customers coming through the doors for their product.  Radio has been very influential in advertising and continues to play a major role in the field of marketing.

Thank you guys for taking the time to read my posts, please stay tuned for further posts about marketing and the different ways companies advertise.     

Sources:

History of Advertising: Golden Age of Radio, (...Radio).
http://historyofads.the-voice.com/golden-age-of-radio

Successful Branding

Sometimes the success of a business stems from how you decide to brand your product and company.  Branding is "the way in which an organization uses a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors" (Marketing, 278).  The way in which a company brands itself can have either a negative or positive effect and once a brand is established it is usually extremely difficult to un-brand or re-brand itself.  We will take a closer look at some companies who have good and bad reputations with their brands, and some possible causes for their success or failure.

Kleenex is probably one of the most successful companies at branding its product.  When you think about it, a lot of people have become accustomed to saying, "May I have a Kleenex?" over, "May I have a tissue?"  This is because Kleenex has a firm establishment in the tissue industry, "partly because tissues were trademarked 'Kleenex' in 1924" (Kleenex).  When a company such as this one has a clear purpose and goal, it is not as hard for them to establish brand recognition or a name for themselves.  

There are also endless examples of companies that crash and burn because of the brand they are attempting to establish for themselves.  When a name is established that sends a message that is anything less than positive, it will most likely ruin the reputation of the company.  The picture below is of the product of a soda pop company who's name seems to be unconventional.  This product would be a failure for obvious reasons.  Nobody wants to drink any liquid out of a bottle that says "pee" on it.  This is a perfect example of a company failing due to branding.
 

Some companies have more success than others when it comes to branding.  Organizations such as Apple, and Rolex have developed more than just recognition but have also established brand equity.  This is " the added value a brand-name gives to a product to be on the functional benefits provided" (Marketing).  When products are bought as status symbols they have gained a certain equity.  For example, fashion brands such as Louis Vuitton, Versace, and Gucci are all bought due to their high quality, but especially because they act as a status of wealth.

              

Despite some common misconceptions branding is not so much about the brand itself but more about how that brand pops out at, sticks with, and resonates with consumers.  Its all about the impression left with potential consumers and how those impressions are going to influence potential customer behavior.  The following video talks about what exactly branding is and how we use all forms of communication in order support it.

Branding is a method of marketing and when executed successfully can establish a business that is in a new league so to speak.  Presentation applies to all of the 4 p's of Marketing.  Branding can have a huge impact on the success of a company.  How a company presents itself to the public has a major effect on how consumers behave in relation to the business.

Please stay tuned for my next blog post which will discuss how the radio has influenced marketing in the past and today.

Sources:

"The Kleenex Brand Story" (Kleenex)
https://www.kleenex.com/BrandStory.aspx



http://www.oddee.com/item_96682.aspx