How to Study Marketing

I am often asked about the best way to study marketing. There are lots of different views on this but here are a few tips to help.

Marketing is a fast moving subject and it is all around you. There are hundreds of examples of good practice. So it is not a question of having to read text books alone. Perhaps there is too much information ? To be able to gain the most from your course it is essential to structure your time and focus on covering the syllabus.

If you look at the ‘Magic Formula’ in the Exam section, use that as the foundation for your work. Many students spend all of their time cramming facts into the short term memory. When they leave the exam very little it retained.

From the start, take the key concept e.g. market segmentation. Understand what it is, why it is used. Then to bring it to life take a case study and apply it. You might have a particular hobby or interest such as surfing or sport or fashion. Start with the industry and all of the competitors in in. Then show how they all related. Keep this case study going throughout the course and build up the examples week by week as your course develops. You will then have an easy way of remembering and applying. That reduces the need to memorise facts as it will be part of you. You can then use this material for assignments and perhaps take different companies in your chosen industry to give variation.

Marketing in the Public Sector

I have been asked to review books. Here is my first review, hope you find it useful and please post a comments and let me know what you think.
Marketing in the Public Sector Philip Kotler and Nancy Lee

For many years the private sector has seen the publication of hundreds of books with a chapter devoted to public sector. This book is different in that it is not only written completely for the public sector but offers a plan for change. At each step of this planning framework there are specific and real examples of how marketing is applied to the public sector. The established marketing tools are linked into the particular challenges of the public sector. It offers public servants a way to make the most effective use of limited resources.

It puts customer service at the centre and shows how Government agencies can offer better expereinces for their customers. It works with the principle that creating a culture breeds a mindset that is driven by the external customer. It uses the creativity of marketers to develop a partnership approach to the role and work with not for the customers.

Hope this helps you to develop the marketing plan for organisations
Marketing in the Public Sector: A Roadmap for Improved Performance

The Value of Sponsorship

There has been a great deal of debate over marketing spend during the recession. It seems that advertising spend has declined. Recent GroupM research found although global advertising spend is expected to fall 5.5% this year to £253bn but sponsorship will see a year-on-year increase of 2%, the only discipline to see growth. The reasons are interesting. Sponsorship of football for example will give the sponsor may hours of prime time coverage. Especially if you sponsor one of the top teams. Cost of sponsorship have declined and it is a buyers market at the moment.

Sponsors are looking for proof that there is a payback. This can be difficult to judge and here companies are looking for direct links between sponsoring a football team and meeting longer term brand building objectives. It is a little easier to tie sponsorship into shorter term tools such as specific product promotions.

The difference is that with sponsorship we are actively watching the sport and can spend hours at a time watching the game with the sponsors’ brand in full view. If the sponsor had to pay for 90minutes of advertising that would be a huge cost. The issue is that many people avoid adverts. Especially since the development of television recording such as Sky Plus. Whereas with the sponsorship we are not avoiding adverts.

The recession has much to answer for and that is shaping the marketing budget and the increased focus on marketing metrics and ROI

Building the Manchester City Brand- Free Marketing Tutorial

Nouveau riche Premier League club Manchester City has been splashing Abu Dhabi United Group’s cash this week as if it was burning a hole in their considerable pockets.

Tevez and Mark Hughes
The last seven days have seen City bring in Carlos Tevez from neighbours Manchester United, all but sign Arsenal forward Emmanuel Adebayor and an audacious attempt to prise Chelsea captain John Terry away from Stamford Bridge – all moves that signal the club’s on-field ambitions.

Off the field, the executive team is also looking to capitalise on the team’s increased exposure with marketing nous.

The latest stage of rebuilding brand Manchester City came with the appointment of digital agency iCrossing to manage all natural, paid search and social media for the Eastlands-based club.

The appointment followed the June relaunch of their new Poke created website, which will feature video content developed by Big Brother producer Endemol.

Personnel wise, the club has been gearing up for a marketing push by hiring Chris Kay, former head of account management at Fallon, as head of marketing and former Aegis man David Pullan to lead brand development.

City were also quick to snap up a global brand as shirt sponsor, signing a reported £40m deal with airline Etihad earlier this year, after incumbent Thomas Cook decided not to renew.

Pullan says the recent appointments are about “employing some traditional marketing rigour”, adding the club needs the “key marketing elements in place” to build global recognition of the brand.

To this end, the club has also appointed strategic marketing consultancy Flamingo International to explore, Pullan says, how City can “connect” with markets around the world.

Julian Ireland, planning director at iCrossing, says its task is “maximising worldwide interest” in the club’s “assets” such as newly signed Argentinean Tevez.

City have some way to go to match local rivals Manchester United, widely recognised to be the benchmark in this area. Manchester United has “official partnerships” with brands around the world with the aim of maximising global revenue. The Reds also have a number of superstores selling branded merchandise in South East Asia and this week announced the opening of their first café in India.

Elsewhere, Chelsea have diversified into hotels, restaurants and a travel company using the Chelsea Village brand since the West Londoners became the last English team transformed by a billionaire’s benevolence in 2003.

Antony Marcou, managing director of sports marketing agency Sports Revolution, says although the club “has been making all the right noises” by appointing marketing expertise, it still has considerable ground to make up on the likes of Chelsea and Manchester United when it comes to international recognition.

“The club needs to build the brand on the ground through opening retail operations in places such as South East Asia so fans can get close to the brand,” he says.

The latest Deloitte football rich list confirms the mountain City have to climb. The club generated £82.3m in revenues during the 2007/2008 season, significantly behind English rivals Arsenal on £209m, Chelsea on £212m and Manchester United on £257m and way behind leaders Real Madrid on £289m.

City are busy building a roster of on-field marketable “assets” that in turn should bring on-pitch success, which Pullan recognises as the “key driver” to building the Premier League club’s global appeal. The club’s paymasters are certainly not lacking in ambition or resources to achieve their previously stated aim to be one of the “biggest football brands on the planet”.
Source Marketing Week

Marketing Lessons Building a brand is essential to differentiate an organisation and sport is not different. Man City are now building the equity in the brand. They will thne be able to extend into a wider range of merchandise. This will all help to boost revenue in a very competitive industry

Chelsea FC- Bridge Kids-

Chelsea FC relaunches Bridge Kids site LONDON – Chelsea FC has re-launched its new kids’ website, Bridge Kids, with new community areas and virtual sticker books.

Developed by John Brown, Bridge Kids supports the Bridge Kids magazine, published by John Brown since August 2008, to target junior supporters of the team.

The new-look site has ‘virtual sticker books’ that get kids returning time and again to add to, review and complete their collection online; video soccer skills tutorials from the club’s own playing and coaching staff; community areas; and fitness and nutritional tips and courses to make sure the next generation of footballers and fans alike are fit, active and healthy.

The site is free to access but requires parental approval and registration. They are also bringing news to fans via Twitter using the Stamford Lion as the tweeter
Source Marketing AUG 09

Marketing lesson Chelsea is using the well established tactic of building lifetime value. They are looking to gain loyalty from the kids so that they become a life long fan. In building this loyalty the costs of keeping these fans is much less that trying to convert new ones. The also act as advocates to build the brand.

T Mobile -Life’s for Sharing

Really good example for a marketing assignment or marketing exam. This video has been watched thousands of time on uTube. For a marketing assignment or marketing exam it shows the secret of creating a brand. Building interest and humour. It uses the brand values of Life’s For Sharing and makes really good use of a range of people in the ad to show that it is across age groups and indeed music genres

Multi Media Tasking- Free Marketing Lessons

As consumers increasingly watch TV and use the internet simultaneously, marketers must think creatively to get their brand messages across to the surprisingly wide spectrum of media multitaskers.

Picture the scene. We are on the sofa, watching tv on an evening. This is unlikely to be our only activity. We maybe playing a game on the Wi, or emailing, Twittering etc. We have the attention span of a nano second. The days of watching an advert on tv and giving it our full attention are long gone

We are much more likely to buy online and use comparison websites to tell us which hotel to stay in. We tend to believe Trip Advisor etc much more than the corporate site of the hotel.

The media multitaskers buy more online compared with those who do not media multitask and are more likely to change their mind about a brand following online research. The EIAA calls this generation of multitaskers “super consumers”.

This is not just for the younger age group. Media multi taskers has increased dramatically in the 45-54 age group. This groups are more internet savvy, they join groups, shop, chat, and play games such as bridge

‘Media multitaskers’ minds are ripe for moulding, according to the study. Almost half (48%) of multitaskers admit to actively changing their mind about a product compared with 36% of non multitaskers’. Marketing Week

This consumer changes their mind but is also more open to new ideas and brands. So the marketers need to focus on the brand building and benefits to the consumer. The more involved the purchase the more difficult this becomes. We might happily try a nee fmcg product but tearing us away from a brand we might have bought over and over such as a car.

Use of multi taskers and multi media are key to the success in marketing in the current climate. Research is conducted in much greater depth and we chat on line. Happy to pass on our views and share the good the bad and the really ugly, in glorious colour

Marketing Lessons For a marketing assignment or marketing exam, build the multi media strategy, focus on delivering the brand values, don’t just promise fabulous experiences, make sure that happens. The online presence the growth of social media simply cannot be underestimated. Companies that manage this well will surely reap the rewards