Marketing practice says that ads should be memorable and engage with its consumers. Here is the top 10, some of the usual suspects and innovative with ways of telling the story some with humour. The success of campaigns that create an imaginative view of insurance deserve the ratings
||Marks and Spencer
On the new Marketing Exam page I have developed an outline answer for a typical marketing exam question. It is based on marking hundreds of marketing exam papers.
It follows the stages of the ‘magic formula’. Watch the video to see how that works. It offers structure and helps you to achieve higher marks. Most students are worried about failing and find that this technique is really useful in the marketing exam.
Let me know what you think
Marketing practice in 2010 will see even more change. The underlying principles will remain. Focus on the customer, understand their needs but also to look into the problems your customer faces. Maybe they need help to conform to environmental pressures or to outsource or to manage their stock better. Get inside their business and learn what bothers them on a daily basis. The first step in best marketing practice is to really build that relationship and understanding
Then, the way in which we implement is probably going to be the biggest change in marketing practice. This greater understanding means we will customise and tailor our product/service to those needs. This will mean more local solutions. This will be led be technology and here mobile communication. Imagine you are looking for a restaurant in a town. This can be accessed by the mobile phone. You will be able to then communicate quick updates to your customers and focus on the specific information needs.
Marketing practice in 2010 is shaping up to be exciting and fast moving with better insight into customer needs. This will be implemented by more creative use of mobile technology. Head over to www.mashable.com for a few ideas.
Marketing practice aims to build competitive advantage. To be successful and differentiate the business, needs to be built on clear capabilities. The analysis of those capabilities is a fundamental part of the marketing audit.
Try to look at the range of skills that the organisation possesses. Some businesses spend time talking about the ‘product’ but it is much more than that. Of course the ‘product’ needs to meet standards required by the target customer.
From here look more broadly at the transferable skills that lead to the development of the ‘product’. This could be based on service and delivery, quality, understanding of customer needs, brand, innovation. In many cases it is not one single thing that determines the capability. Usually it is a blend of a few aspects and often it is tissue paper thin. It is only when these capabilities are merged that the source of competitive advantage is developed.
Take O2 for example. They have a brand, a network but they work to understand the customer and develop new ways of delivering the customer experience. The acid test of any organisation is to ask why will anyone buy from me? That is where you can start to examine the source of competitive advantage and start to take the business forward
Marketing has developed from being associated with traditional consumer goods such as chocolate, washing powder and the like. Marketing in the business to business sector is critical. If you are a big name brand, say Cadbury’s for example. Of course there are the end consumers who enjoy chocolate. I am one of them. If I stopped buying it today doubt Cadbury’s would notice. They are concerned with the customers ie the key accounts such as the big superstores.
From here marketing is now touching every type of business. Sport, travel, music etc are all busy trying to market their products and services.
The world of social marketing is a key growth area for marketers. Charities and not for profit organisations are fast becoming marketing orientated. The Alzheimer’s Society has just launched a campaign. It features celebrities to attempt to raise the profile. The way an organisation like this operates is to really understand all of those people who are touched by this illness.
Of course the patient, the family and then the carers. The health service and doctors as providers of care are a key ‘customer’ of the Society. From there the Society will attract funding not only from donations but also from grants for research. This sheds a different light to stress the business angle to ensure that the Society attracts funding. The market for money is very competitive. Then there are the volunteers who are another key stakeholder and key to the support it offers.
The challenge is to build the brand of the Society so that it delivers to the patient but also to society as a whole. It should aim to remove the stigma and improve understanding of the illness. That is social marketing at work. Of course it will develop the aims of revenue, growth etc.
The difference here for social marketing and an example of marketing practice is to bring the Society to the forefront and to be a leader in research into the illness
Could not let the recent press on Tiger Woods go without a post. Brand Tiger has been carefully built on the values of reliability, focus and achievement. The guy who came from nowhere and broke into the golfing world, not only that but became the best by some distance. He is credited with generating a huge industry of golf followers and also improving the standards in the game.
Hence the shock at the current headlines. So where now? Golf needs him to redeem his reputation. Sometimes it is the way a problem is handled that is the issue. This has not been ideal nor has the constant stream of headlines. He needs time to regroup and deal with the fall out. His sponsors can be seen to abandon in time of need which could be a bigger risk for them. One thing for sure is that golf needs Tiger, he needs reparation. Time will tell if he is able to rebuild. One key lesson is that whatever the brand it is so fragile it cannot be taken for granted
Reuters reported today that Amazon is preparing to enter the high street. Interesting development for the company that pushed, on- line boundaries to new heights, is turning back to traditional marketing. It seems that Amazon customers, like the idea of ordering on line, but being able to collect the item from a store. Next have already seen success with a similar business model.
Next is a good illustration of marketing practice and shows how on and off line marketing can be integrated successfully. The trend spotters who suggested that the high street was dead coulod be in for a surprise if more on line businesses opt for a collection option. The possibility of a number of on line businesses such as Amazon, Dixons, and Woolworths merging for collection purposes. You can collect your Pick and Mix along with your DVDs
The growth of X Factor as a brand has been extraordinary. It has a multi million viewer base every week. The established stars that appear every week such as Rihana and Alicia Keys see a boost in their sales within days. For the weeks leading up to the final the music charts are dominated by the X Factor acts. It is a really good example of marketing practice
This is now becoming a global event. Simon Cowell and Sir Philip Green of the High Street retail fame are to join forces. They will take the show to Vegas with two stage shows a week. They plan two shows each week with pay per view. For the top 12 contestants they will sing in Vegas which is a huge dream.
This is a really good example of the way in which a brand can be firstly built and then extended. In this blog there have been other posts on this topic and it is one that will be revisited again