CH 18-19
Today's class was much like the other classes, in that we did a small group activity, watched Shark Tank video's (which I still enjoy!), watched a Shark Tank presentation and took pages and pages of notes. However, today's small group activity was a little confusing to me, but we eventually figured it out and came up with a beautiful (I thought) fish tank drawing. Regarding the Shark Tank videos; they never get old! Barbara is always mean, Kevin is always just Mr. Wonderful, and my favorite shark is Robert Herjavec.
Today in class some of the interesting points that we talked about were the AIDA model, the marketing communications mix elements and the push/pull strategies.
The AIDA model outlines the process for achieving promotional goals regarding the stages of consumer involvement with the message. The acronym stands for awareness, interest, desire and action. and in order to achieve these goals you need to inform, persuade, remind and connect (in that order). I liked the idea of the funnel diagram because it makes it easier to grasp that a lot of people are aware of the product, less people have interest in the product, even less people have any desire to buy the product and even less people actually take action to buy the product. I thought this was interesting because I never really thought about the idea that there are four stages in which consumers are located, whether it's the awareness stage or the action stage, or about how much marketers/sellers/distributors need to think about this concept. When I think of the AIDA model, I think of concerts, particularly a Selena Gomez concert. Personally, I love Selena Gomez and when I heard she was performing at a nearby stage, I immediately looked for someone to go with me. I eventually found someone and bought the tickets. I am in the action stage of the model. Some of my friends that I asked were not interested at all, in Selena or spending the money; they were in the awareness stage. A few other friends were interested in the concert itself, but weren't to excited about the cost; they're in the interest stage. A few other friends were interested in both the cost and the concert itself, but were either working or busy with something else; they were in the desire stage. I think when I am able to make connections like that, I have a much easier time remembering the concepts.
Another concept that we talked about in class was the marketing communications elements. The marketing mix elements include advertising, public relations, direct marketing, sales promotions, event marketing, digital marketing and personal selling. I enjoyed the activity that we did in class today where we use the Shark Tank video and saw which marketing communications elements we could apply to the video, then chose one element and made up an example for it. It really helped me understand the elements a little more. However, I did mix up a few of them at one point because I think they're so similar (advertising, direct marketing and digital marketing), but I eventually was able to differentiate them from each other and understand them more. From now on, I feel like whenever I see some type of marketing, I'm going to relate it back to this class and think "oh, that's definitely personal selling!"
Another concept we talked about was the push/pull strategies. The push strategy is a marketing strategy that uses aggressive personal advertising to convince retailers or wholesalers to carry and sell a particular product. An example of a push strategy that I have seen is one of those taste testers in Sams Club or BJs that hand out a piece of food, and if you like it, magically pull out boxes from under their little tables. The pull strategy is a marketing strategy that stimulates consumers to obtain product distribution. A personal example of this is when I go to a store like American Eagle or Victorias Secret and buy something, they always put a little coupon in the bag that says something like "15% of entire purchase" and in smaller letters, "only valid from this date to this date", to make you want to go out and buy more products or services from their store.
Some interesting points that we didn't talk about in class, but that I read in the chapters was institutional advertising v product advertising, interpersonal communication v mass communication, and integrated marketing communications (IMC).
Institutional advertising is when a company or business advertises not to promote a particular product but to enhance their companies image. Product advertising is when a company or business advertises to benefit the selling of their particular product or service. I actually never knew that institutional advertising was a thing, so I can't think of a personal example. The example given in the book does help me understand the concept a little better, though. I have seen beer companies running commercials on safe driving, but I never knew that was institutional marketing! A personal example of product advertising that I have seen are commercials on TV and on the radio (especially Pandora radio!!), talking about a certain product and why one should buy the product. Instead of giving one specific example in the book, they gave several different types of product advertising, which include pioneering advertising, competitive advertising, and comparative advertising. I never knew the advertisements that I see on TV and hear on the radio actually had names!
Interpersonal communication is a direct and face to face communication between two or more people. The benefits of interpersonal communication are that the people see the other persons reactions and can respond accordingly. An example of interpersonal communication that I have experienced was in Sephora (which is oddly the example they gave in the book!). In Sephora, they will sit down and do your makeup, while talking you through it, they answer all of your questions fully and helpfully and sometimes they give away free samples (my favorite part!) Mass communication is the communication of a message to a large audience. The first example of this that popped into my head was the president, standing at a podium, talking to the American people, but the book gave another Sephora example (because they're just plain awesome!)
Integrated marketing communications is the coordination of promotional messages for a product or service that ensures the consistency of messages at every contact point where the company meets the customer. I thought this was interesting because I never thought about how marketing managers think out the roles that various promotional elements play in the marketing mix, like the timing. IMC is a big concept in the marketing world.
P.S. I think I am a little mixed up as to what chapters are due for which days. For example, the chapters that were due today were CH 18-19, but we talked about CH 16-17, so this blog post may be a little messed up! I'll ask for clarification tomorrow!
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