Today’s discussion was about Branding. We also did a group exercise:
Armani Exchange:
Fashion forward with disposable income
Sexy cop and 300 Soldiers costumes
Cool, sexy, sophisticated, trendy, hot
Anthony D.
Distribution: of
Decreases coordination cost
Potential channel conflict
Anthony D.
Today’s discussion continues from the last class about product and new topic about community aspect of the marketspace matrix. The term community was also defined.
Int Product levers:
Community: a set of interwoven relationships built upon shared interests, which satisfies members’ needs otherwise unattainable individually
Exhibit 10.1 Community Criteria
Transfer of values incommunities triangle
Anthony D.
Today’s discussion was about communication and product aspects of the marketspace matrix. The term product was defined, although, I pretty know this one already after 3 years in business school. The communication aspect, I thought, is interesting because it is similar to what was taught in advertising classes. Then again, advertising is communication.
Integrated Communication:
Communication process:
Product definition:
Augmented product development levers:
How products enables customer relationships – 2 primary techniques:
Anthony D.
Criteria of email principles:
Advantages:
Getting good opt-in lists is an issue
Levels of permission marketing:
Other techniques:
Anthony D.
Today’s discussion was about search engine marketing optimization. Basically, there are two types of searches: organic search and paid search. Organic searches are free. The steps involved are:
The main difference between organic and paid searches is that for organic search, the query is matched to the search index while in paid searches, the query is matched to the ad database.
In short, to optimize search engine marketing, the important things are to pay attention to the keywords used in the content, in each web pages, the title, the website, and the description (snipit). Since search index and ad database are built by spiders and spiders cannot read materials in Flash format, use text.
As for paid search, bidding the highest helps, but we also have to pay attention to the relevancy and popularity of the keywords that we are bidding.
The video shown was a little bit too technical and lots of information. I would really like if it shows a simple way to apply the concept so we can do it ourselves in the basic level and not a programmer level.
Anthony D.
To start, I just want to say this is one of the class lextures that I was so excited to learn about. I was so excited to learn the theorical aspects of good effective internet design and how they can be applied. Anyways….
So, the 7 Cs are:
The dimensions of context are: function and aesthetics. The factors aspect of function include section breakdown, linking structure, and navigation tools. The peformance aspect of function include speed, reliability; platform independence; media accessability and usability. The aspects of aesthetics include color scheme and visual themes.
The dimensions of content are: offering mix, appeal mix, multimedia mix, and content type.
Community encourages customers to return to website primarily by: 1. creating attractive content and 2. making certain activities possible/easier thus satisfying needs not attainable individually.
The dimensions of customization are: personalization and tayloring. Examples of personalization include login registration and cookies; personalized email account; content and layout configuration; and storage and agents. Tayloring can be based on past behavior or behaviors of other users with similar preferences.
The dimensions of communication are: broadcast, interactive, and hybrid. Examples of broadcast include mass mailings, FAQs, email newsletters, content update notifications, and broadcast events. Examples of interactivity include e-commerce dialogue, customer service, and user input. Hybrid is a combination of broadcast and interactivity.
The dimensions of connection are: links to sites; homesite background; outsourced content; percentage of homesite content; and pathway of connection.
The dimensions of commerce are: registration, shopping cart, security, credit card approval, one click shopping, orders through affiliates, configuration technology, order tracking, and delivery options.
Anthony D.
Testing Process involves identifying the reasons for conducting a test; design a test; establish test metrics; execute & monitor results; analyze and report test results; and make marketing decision. The reasons for conducting a test can be: standard practice (test all marketing programs), strategic questions (reactive lapsed customers), and tactical questions (which incentive to use). To design a test, we need to identify the marketing variables, the type of test, and the sample. Important factors to establish the test metrics include: significance and cut-off date.
Data can be gathered from different sources: purchase, census, associations, research firms, survey, focus group, interview, and website.
Data mining is “set of statistical routines that permit pattern detection in large data sets.”
The hierarchy of customer-based marketing strategies (from bottom-up):
Examples of tasks that customers do in the internet are: pay bills, entertainment, purchase, communication, and research.
Anthony D.
Today’s discussion was part 2 of the business model chapter.
Examples of the differences between business model and revenue model: Amazon’s business model is aggregator while its revenue model is a combination of e-commerce, advertising, and associates programs. WSJ’s business model is content while its revenue model is based on subscription.
A direct response medium is interactive. It can be used to require and retain customers. Testimonials can be effective and handy for direct response medium.
The critical strategical elements of direct response include: offer, service & support, creative execution, media, and e-mail list.
Important terms include “switching cost” and “Customer Lifetime Value (CLV).” I would need to look further in the book to fully understand the concept of CLV and also the Test Table 4-4.
Anthony D.