Novemeber 5, 2008

Historical Day: New President-elect 2008, Barack Obama. Obama ran a great campaign, he ran it like a brand that he is, and like a company. My opinion.

For the 2012 Campaign managers, I think we will see more modernized campaigns like the Obama campaign did. Using TXT message to contact voters. As the technology advances, and new media arrives, the campaign managers need to adapt to them and implement the campaign using them. The future campaigns need to be more interactive, using more internet media such as Youtube, facebook/myspace or whatever the popular social network at the time. Banner ads, create better mailing lists. Also in the future, eventually they need to bring the voting ballads online with high security.

We discussed Communication and Product. Interactivity creates communications.

The importance of Integrated Communication

The goal of marketing and communication to convey relevant messages to the right consumer at the right time.

Communication Process:

1. Identify the target audience
2. Determine the communication objective
3. Develop the message
4. Creating the message
5. Executing the campaign
6. Evaluating the effectiveness of campaign

Augmented Product Development

• Customer Service Programs (post-sales support, customer care, & customer relationship mgmt)
• Loyalty programs and privileges
• Upgraders
• Availability of complementary products.

1. How is product defined? Product is defined as both tangible goods and intangible services generally created for the purpose of transaction. Two generally types of products for which the levers of product development differ, Physical and Service.  Three components to overall value propositions are: (1)Core benefit (2)Basic product (3)Augmented product

2. How do interactivity and individualization affect product? It allows a company to learn more about its customer, personalize a product to meet customer preferences, and offer CRM tools to provide more value for customers and cut costs for product sellers. Also websites that require customers to register to use the site have access to numerous tols to interact with the user as an individual.

3. What are the key marketing levers for products?

4. What does the overall product development process look like? The product development process are: (1) Idea generation, (2) Screening ideas, (3) Product design, (4) Prototype development, (5) Business analysis, (6) Test marketing, (7) Commercialization.

5. How can companies manage their product portfolio? Companies can manage their portfolio with (1) New product Development, (2) Enhancements and line extensions of current products and services, (3) Development of existing products, (4) Support of current products and services.

6. How can products help enable a customer relationship? Two primary techniques are: (1)Deploying the product development levers that are appropriate for the existing relationship (2) emphasizing the elements of the value proposition that are most relevant at a given stage of the relationship.

7. How can a customer-centric approach to product development create strategic advantages?