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GS2 SPF Ch. 5-8

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William Diamond

on 18 August 2017

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Transcript of GS2 SPF Ch. 5-8

Chapters 5, 6, 7, 8
Guidesheet 2 and Discussion 2
Chapter 6: Organizational Buying
Organizational Buying is particularly important for people interested in "B2B" (Business to Business) marketing. Here's a short overview video, related to Kerin Chapter 6:
https://www.dropbox.com/s/daezfjgwu4tcgj3/chapter%206%20organizational%20buying.mp4?dl=0
Government Resources for Exporting and Importing
This is an 11 minute video with lots of youtube. It's fun
!
https://www.dropbox.com/s/4hheznas107f9zk/Government%20resources%20for%20exporting%201.mp4?dl=0
How could you implement this?
Multidomestic or Global Marketing Strategy???
Chapter 7: Global Consumers
Your business may not export, but you may have potential consumers from many nations (even if your business is in the U.S.) Should there be different strategies for marketing to people from different cultures? Or should there be one marketing strategy? Here are images from Chapter 7
This is a shorter video telling about more valuable government resources:
https://www.dropbox.com/s/11fv260tfegfvv5/Government%20resources%20for%20exporting%202%20--this%20is%20short.mp4?dl=0
Chapter 8: Market Research
Primary Data Collection
Exploratory Research
Questionnaires
A/B Testing!
Using Secondary Data
On page 193, Kerin shows the importance of market research in Movie Testing!
These are simple ways to make a product succeed. How could you use them?
Here's a video on FOCUS GROUPS...and on NEUROMARKETING!
https://www.dropbox.com/s/vhw3m8fjc0mwy74/focus%20groups%20and%20neuromarketing.mp4?dl=0

Here's good fun: MYSTERY SHOPPERS!
https://www.dropbox.com/s/unimlly06rejqt6/Mystery%20Shoppers.mp4?dl=0

Three last cool methods of observation!
https://www.dropbox.com/s/obckvk0q5xo8reo/Contrived%20and%20other%20observation.mp4?dl=0
For any type of ad campaign--Newspaper, Direct Mail, email or social media, this tests two or more versions against each other. Often one of the version is the "Control"--what you are using before you test new ads. This is easy to do with email if you use MailChimp (see below). I have tested whether using an emoji in the subject line increases response!
Here is the Wendy's questionnaire, from Kerin Chapter 8. Even though Kerin has their interpretation of this, I think you should know the following:
Open ended questions like this are a really bad idea, unless this is just a "hook" to get people interested! Use focus groups or exploratory research to learn these general things! Otherwise you will have massive amounts of work to do to analyze these data!
It is REALLY helpful to ask people about the importance of attributes (like taste) ...






...and then have them rate the SAME attributes (Is the food tasty?). Different segments may have different IMPORTANCE ratings [men might care more about price, and women might care more about cleanliness]

or men might think that Wendy's has more variety than women do.


So don't forget to ask demographics!
Simmons, a provider of secondary data, might not
have a "college student" segment. It might have an 18-24 years old segment.


It is important for you to see that the category "18-24 years old" is different than college students, because college students are less likely
to have children than other 18-24 year old people.
Suppose you needed to know about plastics.
What secondary resources might you use? Probably www.PlasticsToday.com


or resources from the UMass library!
Trade Associations
Trade Journals
Here's a video going over the Chapter 8 Wendy's Questionnaire and discussing possible errors you might make in designing questionnaires.
https://www.dropbox.com/s/68lm1xvhjcs02ly/Questionnaire%20Mistakes%20and%20the%20Wendys%20Questionnaire%20from%20chapter%208.mp4?dl=0
In Kerin, p. 112, you will see an "attribute matrix". According to some theorists, people use decision rules to make their choices between brands while considering something like this.
However, consider this ad for the Kindle Fire, and decide whether these comparisons really are why so many people buy an iPhone!
https://www.dropbox.com/s/a1e6ultqjoozgj3/Kindle%20Fire%20vs%20Ipad%20air%20level%205%20mp4.mp4?dl=0
Kerin, pp. 120-121, discusses "selective perception" and "perceived risk." These are both very important. Watch the following video, which has a new name for selective perception ("trigger features") and some good examples. We will use this when we discuss pricing!
https://www.dropbox.com/s/wydfamzwyd22t45/Trigger%20Features.mp4?dl=0
Look how Target uses trend setters (opinion leaders), who are the "reference group" for college students to make them put Target in their "consideration set" when they are thinking about shopping. It's really important for your brand to be considered! Or you are nowhere!
https://www.dropbox.com/s/na7buf2v4wymqzk/Target%20markets%20to%20UNC%20students.mp4?dl=0
Kerin, p. 127, talks about BzzAgents. Here's a video about Snoop Dogg and BzzAgents! https://www.dropbox.com/s/rcs858s6q7zg4oh/Ref%20Groups%20Opin%20Leaders%20Snoop%20Dogg%20Bzz%20Agents.mp4?dl=0
Chapter 5
Click
http://www.strategicbusinessinsights.com
to learn about yourself! Take the VALS survey!

Then view this video on VALS!
https://www.dropbox.com/s/123ieemr8ztuyv0/chapter%205%20long%20segment%20on%20VALS.mp4?dl=0
VALS IS VERY IMPORTANT!!!!!
using NAICS: go to
http://www.census.gov/eos/www/naics/
Enter a keyword (I entered bicycle) and see what happens! Also, these charts from Chapter 6 are very important!
In the second discussion, we want you to work on the same businesses that you worked on in the first discussion. Remember to show us that you
applied
material from the guidesheet and the chapters to think about your business!
Full transcript