silvia

MSc Strategic Marketing

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silvia

MSc Strategic Marketing

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Analytics and Entrepreneurship Workshop

Since we don’t have an entrepreneurship module on our course, our student committee was able to set up a workshop for us focused on entrepreneurship and analytics. Below are some of the key take aways from presentations by Mat Braddy and Paul Cook.   BUILDING CHALLANGER BRANDS Mat Braddy founder Rock Pamper Scissors     “Be […]

Since we don’t have an entrepreneurship module on our course, our student committee was able to set up a workshop for us focused on entrepreneurship and analytics. Below are some of the key take aways from presentations by Mat Braddy and Paul Cook.

 

BUILDING CHALLANGER BRANDS

Mat Braddy founder Rock Pamper Scissors

 

 

“Be the first thing out of someone’s mouth.”

 

UNDERSTAND THE BRAIN

It’s better to build brands through emotional messages rather than rational messages (tell emotional stories).

-Pilot brain: rational messages –> short term action

-Autopilot: emotional brand message –> long term habit

BUILD A CHALLANGER BRAND

Having a personality makes you more memorable.

-Become a lighthouse; not all things to all people

-Changing the category decisions making criteria in our favour

-Overcommit to ideas

-Becoming the category thought leader

AVOID THE MUSHY MIDDLE (e.g. food delivery brand advertisements always include a cheese lift…boring…be different!)

Pizza cheese lift

Who are WE? exercise to do with employees:

-What do we believe?

-What is our personality and tone of voice?

-What is the philosophy of our product or service?

-What is our rally cry?

UNDERSTAND ‘NOW’

Understand how you can destroy your own business.

Reduce services to utter simplicity with low commitment.

Matt Brady

IDENTIFYING, SIZING AND TARGETING A POTENTIAL AUDIENCE

Paul Cook founder of Noetika

 

 

“Data is your marketing planning fuel.”

 

 

(1) Learn, improve, optimise.

(2) The four V’s of Big Data

The four V's of big data

(3) Simple solutions are not ‘wrong’.

(4) Build a compelling story.

-Create standout

-Cut through noise

-Deliver a message that resonates

-Create awareness

-Create clear call-to-action

-Make sure there is a so what?

(5) Cameodynamic.com splits people into categories: an important tool for segmentation.

(6) Dispel any myths about your customer.

Paul Cook

How to Make Your Relationship Last: Lessons from Relationship and Services Marketing

You’ll find that there are a lot of things on the marketing course that you can apply to real-life situations. One of the most interesting lectures I have had was the first lecture of Relationships and Services Marketing. Commitment is the strongest predictor of relationship length when controlling for intimacy and passion. So how do […]

You’ll find that there are a lot of things on the marketing course that you can apply to real-life situations. One of the most interesting lectures I have had was the first lecture of Relationships and Services Marketing. Commitment is the strongest predictor of relationship length when controlling for intimacy and passion. So how do you make a relationship last? There are three determinants of commitment: satisfaction level, quality of alternatives, and investment size.

commitment level

If Hannah is satisfied with her relationship with Bob, Hannah will remain in the relationship. The higher the satisfaction level, the higher the commitment. Satisfaction increases when benefits increase and/or costs decrease. Benefits can be material or psychological. We usually understand how satisfied we are by comparing with previous relationships or those relationships of significant others.

If Hannah’s quality of alternatives are low, she will remain in the relationship with Bob. The lower the quality of alternatives, the higher the commitment. If there are highly attractive alternatives (e.g. super attractive Ben that is really into Hannah), this will lower commitment.

If Hannah has invested a lot into her relationship with Bob, Hannah will remain in the relationship. The higher the investment size, the higher the commitment. Invested resources enhance commitment because of the increase in cost of ending the relationship. This can be material (e.g. buying an apartment together) or psychological (e.g. time spent together).

Satisfaction is the most important driver of commitment, so if quality of alternatives are high and investment is low, but Hannah is very satisfied, she is still more likely to remain in the relationship.

So, if you are in a relationship or will be in one in the future, remember, high satisfaction level, low quality of alternatives, and high investment size will increase commitment.

The Battle of the Fake Twitter Followers

We’ve learned a lot about online tools. One tool that I found quite interesting is Twitter Audit, which allows you to see how many real or fake followers a Twitter account has. The results are quite interesting, some people may not be as popular as they seem. 10) Cristiano Ronaldo (36%) 9) Barack Obama (37%) 8) […]

We’ve learned a lot about online tools. One tool that I found quite interesting is Twitter Audit, which allows you to see how many real or fake followers a Twitter account has. The results are quite interesting, some people may not be as popular as they seem.

10) Cristiano Ronaldo (36%)

Cristiano Ronaldo

9) Barack Obama (37%)

Barack Obama

8) Rihanna (38%)

Rihanna

7) Katy Perry (39%)

Katy Perry

6) Justin Bieber (42%)

Justin Bieber

5) Kim Kardashian (48%)

Kim Kardashian West

4) Oprah Winfrey (53%)

Oprah Winfrey

3) Donald J. Trump (64%)

Donald J. Trump

2) Ellen DeGeneres (74%)

The Ellen Show

1) Kanye West (92%)

Kanye West

How many of your followers are real?

Semester two start

Semester one flew by fast! My winter break consisted of note taking and revising for exams, and last week exams took place. Exam time looked something like this…   When it’s close to Christmas and you’re trying to study   And start procrastinating   But then you tell yourself   So you look over your […]

Semester one flew by fast! My winter break consisted of note taking and revising for exams, and last week exams took place. Exam time looked something like this…

 

When it’s close to Christmas and you’re trying to study
I cared for eight seconds, then I got distracted.

 

And start procrastinating

 

But then you tell yourself
You can do this.

 

So you look over your lecture notes
Does anybody know how to study?

 

And video lectures

 

And try to learn definitions like

 

 

 

 

 

And you finally get it
This is good.

 

And soon enough its 24 hours till exam time and you’re like

 

 

 

 

 

 

 

And wishing for

 

10 minutes to exam time

 

And exam hall tension is high

 

But when you see your exam questions it’s all good
Thanks, brain

 

And you write so much you lose your train of thought

 

You hand in your last paper
It's gone. It's done.

 

And walk out of the exam room like

 

 

 

 

 

This week we started lectures again. Hoping for a great start to semester two!

Will technology run you?

  “Today is the slowest pace of change we’ll ever experience.”   With the continuous advancements in technology, will the marketing profession be taken over by robots? How will we have to change the way we market to people? How can we take advantage of opportunities in technology? Recently, Jonathan MacDonald from Thought Expansion Network […]

 

“Today is the slowest pace of change we’ll ever experience.”

 

With the continuous advancements in technology, will the marketing profession be taken over by robots? How will we have to change the way we market to people? How can we take advantage of opportunities in technology?

Recently, Jonathan MacDonald from Thought Expansion Network held an inspiring lecture during our Digital Marketing module about the fast-paced changes in technology, how these could shape the future, and methods and actions we can take.

We all know how technology is changing the way we live and do things, but Jonathan really opened up our minds and pinpointed real drastic changes happening in digital and technology that you may have overlooked.

Lets look at some examples…
 

We’ve all heard of 3D printers right? Recently, a supercar was 3D printed; it’s faster than any Ferrari or Lamborghini currently on the market. How do you think this will change the automobile market?

3D printed supercar

 

What if your board director was an algorithm?

algorithm board director

 

Some men in Japan prefer dating a virtual girlfriend. Would you date one?

Japan virtual girlfriend

 

You may soon be able to take a smart pill that tells you exactly what is wrong with you and what drug you need to cure your illness. How will we market products to people that already know what they need?

smart pill

 

So, what should we be doing? Jonathan highlights 3 key actions that companies should take:

1. Elevate – find out what adds value and elevate

2. Innovate – not a me-too strategy…and by innovation he doesn’t mean selfie shoes either

selfie shoe

3. Activate – start doing stuff

 

“I’m not a futurist, I’m a nowist.”

 

Jonathan concluded by highlighting that we are the future; we can create a future that we want and that we’d be happy living in. So, what’s my future as a marketer? What kind of future will you build?