MKT 466 Special Topics: Current Issues in Marketing

RESEARCH PROJECT

Each student will choose one of current issues in marketing (see the list and definitions of Issues in Marketing in this document) and sign up for the topic and a due date (see available dates in “Presentation Date and Topic Document.doc” and WebCT Calendar). A student will prepare an online presentation, which will include questions to peer students, and will submit a paper summarizing his/her findings.

Online Presentation

For your presentation and research paper, select one of the following concepts (see Issues in Marketing in this document). You will present in-depth information on the subject, including how your topic is applied to a specific company, product, service, market in particular situations, organizations etc. PLEASE BE SPECIFIC. Also talk about implications of your topic as it relates to the economy or the market or the company etc.

Your presentation will conclude with questions to stimulate a discussion. Discussion facilitation will be a part of your grade (see Online Discussion Guidelines in “MKT 466. Case Studies.doc ”).

The presentation should consist of a 4-6 page paper and/or a 5-10 slide power point summarizing your topic. PLEASE BE CREATIVE.

Research Paper

Research paper will be an expansion of your presentation.

Format specifications: 8 – 12 Pages Double-Spaced 12 – Point Font Standard Margins APA Style A – Level (centered, underlined, all caps) for major headings B – Level (centered, underlined, first letter of each word capitalized) for minor headings.

Research Support

A. Letter from Nancy Dennis, Business Librarian:

The Library has many new and exciting databases this spring, among them: ABI Inform, Lexis Nexis’ Company Dossier, Marketline, Hoover’s, Wiley, Emerald, and Mergent.

Salem State collaborates with Kirstein Business Branch of the Boston Public Library to ensure that our students find precise, timely answers to their data quests.

I am Nancy Dennis, the Business Reference & Instructional Librarian. I have an MBA from the University of Massachusetts Boston and an M.S. in Library Science from

Columbia University. I will be assisted by Karim Hakim, an MBA student and graduate assistant.

I look forward to assisting you with any and all marketing projects.

My office is Room 319 in the main Library on North Campus; e-mail is ndennis@salemstate.edu; and phone is 978-542-6218.

I also will meet students on Central Campus and in other places that are convenient – including the cafeteria.

I look forward to meeting you!

Sincerely,Nancy DennisBusiness Librarian

B. Writing Center

Welcome to the Writing Center, where you can receive feedback on your writing from a trained and supportive reader. Our staff works with all of the SSC Community– undergraduate and graduate students, alumni, faculty, and staff. Our goal is to help you become a better, more confident writer. Tutorials are free, and it’s easy to make an appointment. We look forward to meeting you soon!

"The Center can help all students, even the best of writers." - Senior, Criminal Justice

Typical tutoring sessions may help you with one or more of the following:

getting started on your writing assignments overcoming writer’s block identifying & addressing the needs of your audience developing ideas organizing ideas documenting sources & avoiding plagiarism revising your writing more effectively solving grammatical problems

Writing Center Office / Hours of Operation

Location: Meier Hall 220, North Campus

Phone: 978-542-6491

Hours of Operation:

Tutors are available by appointment and often on a walk-in basis.

Documenting Sources for an Academic Research Paper:

Students are expected to utilize A Writer’s Reference by Diana Hacker or similar guide to writing research papers, utilizing correct grammar and documenting sources.

As stated by Diana Hacker, the author of A Writer’s Reference, “In academic research papers and in any other writing that borrows information from sources, the borrowed information-quotations, summaries, paraphrases, and any other facts or ideas that are not common knowledge – must be documented.” Be careful not to copy words or paraphrase thoughts from the text, readings, or other sources. Copying is plagiarism and is in violation of academic honesty. If you do use words or paraphrase thoughts from readings, text or other sources, you must properly document and cite your source information.

Use a writing style book, writing reference or a guide to writing research papers for specific guidelines for complete citations for books, articles, government publications, company annual reports, home pages, etc. As general rule, provide as much information about the source as possible, including author, editor, title, publication, publisher, date published, etc.

Examples to help with your papers and assignments:

BookBerkowitz, Eric N., et al. Marketing. 6th edition. Boston: Irwin McGraw-Hill, 2000.

ArticleThurm, Scott. “Scanner Prices Plunge as Prices Soar.” Wall Street Journal December 17, 1998, Section B.

World Wide Web Site“History: Budweiser Through the Years…The Company Timeline.” Budweiser Homepage [online]. Available: http://www.budweiser.com/archives.html [1999 Anheuser-Busch Inc., St. Louis, MO].Hacker, Diana. A Writer’s Reference. Fourth Edition. Boston: Bedford/St. Martins, 1999, p. 326.

ISSUES IN MARKETING

Choose one of the following topics:

Ambush Marketing

The strategic placement of marketing material and promotions at events that will attract consumer and media attention, ambush marketing begins by identifying opportunities to successfully capitalize on. Paying attention to media sources that provide information about upcoming activities, sporting events, celebrity appearances, and even protests can accomplish this. Media sources for ambush marketing can include radio, print, broadcast, Internet, etc.

If the event is likely to attract media attention, companies must determine how to incorporate their information into the media coverage for the event. Carrying out an effective and legal ambush marketing campaign is challenging, yet the potential payoff can be huge in terms of return on investment.

Getting the ambush marketing message seen can be done boldly or via a surprise attack. For example, using models clad in bikinis with a company's logo painted on their bodies is a relatively bold way to attract onlookers, while a surprise attack would use an individual or group or people positioned in the crowd to hold up a sign bearing the company logo just as the camera is focused on them. http://www.onpoint-marketing.com/marketing-glossary.htm

Baby Boomer Marketing

Campaigns designed to target individuals born between 1946 and 1964, baby boomer marketing targets the baby boomer generation which represents the boom in births following World War II. Baby boomers make up a large majority of today's work force and wealth component, with significant buying power. They did not live through the depression, are not afraid of spending money, and are often credited with keeping the economy afloat.

Baby boomer marketing focuses on appealing to areas that interest this age group, which includes health, lifestyle, nostalgia, family values, relationships, expensive hobbies, money management, etc.

Baby boomers often have a hurried lifestyle and were brought up to be individualistic. Therefore, baby boomer marketing must be strategically planned so that it is brief and concise, yet still personal. This makes it important to create a baby boomer marketing campaign featuring products that appeal to the baby boomer generation, incorporating subject matter these members can relate to. http://www.onpoint-marketing.com/marketing-glossary.htm

Beverage Marketing:

A broad spectrum of marketing activities, beverage marketing strategy encompasses promotional concepts designed to promote soft drinks, alcohol, beer, bottled water, fruit drinks, coffee, tea, wine and other beverage products. The end goal is to create consumer awareness and drive sales.

A strong beverage marketing strategy requires a close working relationship with the product manufacturer in an effort to develop promotional events to create product awareness and drive sales. Creative beverage marketing campaigns may include special events, point-of-sale displays, packaging messages, premiums, games, contests, and advertising. Beverage marketing strategy requires the identification of the most effective distribution channels to target a specific audience, as well as innovative/creative packaging concepts.http://www.onpoint-marketing.com/marketing-glossary.htm

Brand Marketing:

Brand Definition:

A name, term, design, symbol, or any other feature that identifies one seller's good or service as distinct from those of other sellers. http://users.wbs.warwick.ac.uk/dibb_simkin/student/glossary/ch09.html

Despite what many believe, brand isn’t about your logo, tagline and glossy brochure. Instead, a strong brand integrates multiple components, all of them necessary, including customer interactions, employee communications,

corporate philosophy and advertising/marketing efforts. Your brand extends to your employees, customers, the media and even the general public as the above story illustrates. If these components don’t consistently reinforce your brand, customers will become dissatisfied. The negative impact of their perception, should they voice their opinions to other potential customers or even the media, could have a ripple effect on your business. This can erode your brand equity and create misperceptions about your company in the market, that in turn could lead prospective customers, employees and investors to pass on your organization.

On the other hand, brand consistency throughout all levels of the organization helps drive an organization to grow and prosper. Strong brands can drive an increase in sales. The company is better suited to attract and retain the best employees. Vendors can see value in your brand and look to establish partnerships with your business, while investors will see the business and your brand equity as a valuable commodity. http://marketing.about.com/od/marketingyourbrand/a/beyondbrand.htm

Cause Marketing:

A marketing strategy linking purchases of a product with fund-raising for a worthwhile charity, project, or cause, cause related marketing creates a mutually profitable outcome for the business and charity. Cause marketing can be a highly effective method that contributes to building a positive image for the business while helping a charity gain much needed visibility.

An excellent example of cause related marketing is depicted in the 1980's project to restore the Statue of Liberty. American Express pledged to donate one cent toward the restoration project for each use of its card. This cause marketing effort resulted in a donation by American Express of $1.7 million to the restoration project and a 28% increase in card usage by American Express cardholders, creating a win-win situation.

Cause related marketing creates an outlet for utilizing the power of the brand to demonstrate a business's commitment to addressing current social issues by making available resources and funding while addressing marketing objectives. http://www.onpoint-marketing.com/marketing-glossary.htm

College Advertising:

Development and implementation of targeted ads, college advertising is aimed at students on college campuses. College advertising is most effective when the advertiser has an in-depth knowledge of the student mind set and knows what speaks to these students.

Successful methods of college advertising include bulletin boards, posters, tear sheets, take-one posters with self-addressed response cards, flyers, college newspapers, online bulletin boards, and bulk drop distributions. College newspaper advertising can also be an appropriate venue depending on the ad budget. Other ideas for college advertising include building relationships with student government and campus organizations, coordinating and overseeing events to raise campus awareness of your product or service, and schedule speaking engagements that enable the advertiser to put itself in front of your target audience.

College advertising affords an excellent opportunity to introduce a product or service to new markets, affording a chance to develop a long-term customer with strong brand loyalty. Also, college advertising is a necessity since college students possess tremendous buying power and account for a significant portion of consumer spending, both online and off. http://www.onpoint-marketing.com/marketing-glossary.htm

Consumer Marketing:

Target markets include purchasers or individuals in their households who personally consume or benefit from the purchased products and do not buy products primarily to make a profit. http://users.wbs.warwick.ac.uk/dibb_simkin/student/glossary/ch07.html

Customizing vs. Standardizing in Global Marketing:

Customizing 1) Marketing activity in which a company attempts to satisfy the unique needs of every customer; also called Market

Atomization Strategy. 2) In international marketing, a marketing program uniquely designed for a particular country.

Standardizing

A strategy employed by a multinational company in attempting to use one marketing mix to sell its products worldwide; the approach minimizes cost but may result in a smaller market than would be possible with a unique marketing program for each country. http://www.buseco.monash.edu.au/mkt/dictionary/ccc.

Direct Marketing:

Selling through targeted contact with an existing or prospective customer, direct marketing enables direct marketing consultants to create programs that will obtain a measurable response from their marketing efforts. Direct marketing solutions are dependent upon the utilization of databases, mail, and email lists.

Direct marketing services are personalized towards the potential customer utilizing the information the direct marketing consultants obtain. Direct marketing services also utilize responses from the potential customers in the form of a purchase, an inquiry, or a referral.

While direct marketing solutions are used by many businesses, heavy users include magazine publishers, catalog houses, politicians during campaign years, and financial institutions. While usually identified with direct mail, direct marketing consultants have expanded their direct marketing services to include email offers, door-to-door selling, telemarketing, package inserts, etc. http://www.onpoint-marketing.com/marketing-glossary.htm

Domestic Marketing:

Marketing activities directed exclusively in a business’s home market.http://users.wbs.warwick.ac.uk/dibb_simkin/student/glossary/ch03.html

Eight P’s:

As well as the standard four P’s (Product, Pricing, Promotion, Place), services marketing calls upon an extra four, totaling eight and known together as the extended marketing mix. There are:

People: Any person coming into contact with customers can have an impact on overall satisfaction. Whether as part of a supporting service to a product or involved in a total service, people are particularly important because, in the customer’s eyes, they are generally inseparable from the total service. As a result of this, they must be appropriately trained, well motivated and the right type of person. Fellow customers are also sometimes referred to under ‘people’, as they too can affect the customer’s service experiences, (e.g., at a sporting event).

Process: This is the process (es) involved in providing a service and the behavior of people, which can be crucial to customer satisfaction.

Physical Evidence: Unlike a product, a service cannot be experienced before it is delivered, which makes it intangible. This, therefore, means that potential customers could perceive greater risk when deciding whether or not to use a service. To reduce the feeling of risk, thus improving the chance for success, it is often vital to offer potential customers the chance to see what a service would be like. This is done by providing physical evidence, such as case studies, or testimonials.

Philosophy: Is the potential 8th P of marketing. Products (or services) should reflect the underlying philosophy or ethos of the organization. It should also be clear what the philosophy behind the introduction of the particular product is, as well.

E-Marketing :

1) Moving elements of marketing strategies and activities to a computerized, networked environment such as the Internet. It is the strategic process of creating, distributing, promoting, and pricing goods and services to a target market over the Internet or through digital tools. aede.osu.edu/programs/e-agbiz/pageglossary/main.html

 2) Any marketing effort that contains a website URL. This could range from direct mail programs, magazine ads, radio

to business cards. www.marketconscious.com/dict2.htm

 3) The use of electronic media such as the Internet, wireless marketing and iTV for any marketing purpose.

wps.pearsoned.co.uk/wps/media/objects/1452/1487687/glossary/glossary.html 

4) E-marketing can be simply defined as "Achieving marketing objectives through use of electronic communications technology." en.wikipedia.org/wiki/E-marketing

Entertainment Promotions:

Innovative and compelling communications activities, entertainment promotions are designed to create awareness among music, film, television, and home entertainment audiences. Entertainment promotions include the creation and implementation of numerous marketing activities to attract an audience.

Various entertainment promotions services may entail sponsorship marketing, development of entertainment sponsor strategies, sponsor rights negotiation, event marketing, celebrity endorsements and appearances, entertainment marketing campaigns, integrated sponsorship marketing programs, consulting, and strategic planning.

In carrying out entertainment promotions, it is important to understand the industry. Positive results and ultimate success are achieved through implementing a balanced marketing mix. Success or failure of the marketing program can make or break the future of the individual, organization, or product it is targeted toward. http://www.onpoint-marketing.com/marketing-glossary.htm

Ethnic Marketing:

The focusing of marketing activities toward members of a specific minority or nationality group, ethnic specific marketing is important due to the ever-increasing number of immigrants pouring into the United States each year. These various ethnic groups create new demand for numerous consumer items that appeal to these groups.

Businesses are increasingly realizing the importance of reaching multi-cultural audiences who make up a significant portion of the country’s buying power. However, ethnic specific marketing requires a sense of expertise by marketing professionals who understand the target audience, their language, and their culture. http://www.onpoint-marketing.com/marketing-glossary.htm

Fashion Marketing:

Developing, analyzing, and implementing sales strategies focused on current fashion trends, fashion marketing requires an eye for style and a head for business that can move fashions from the designer’s showrooms to retail sales floors. Fashion is a multi-billion dollar global industry, and specialists in fashion marketing know and understand the disciplines involved with advertising techniques, marketing strategies, and how to succeed in the fashion market.

Fashion marketing professionals realize that brands sell. Consumers are willing to pay hundreds or even thousands of dollars for single items of clothing, shoes, accessories, and home fashions that wear a specific name or label. Fashion marketing also requires a degree of cultural diversity, which is important to developing marketing campaigns that span across divergent cultures. Successful professionals in fashion marketing understand the importance of strong branding and creating a desirable product image, as well as recognizing the patterns of consumers and their unique shopping behavior. http://www.onpoint-marketing.com/marketing-glossary.htm

Focus Groups:

Example:On point's Focus Groups ServiceGenerally concentrating on identification of uses for products, pinpointing problems, screening alternatives, providing quantitative market research, and conducting internal marketing, focus groups are typically assembled together under the guidance of a trained moderator, who will introduce the topic and encourage group participation. Members of focus groups typically possess some common characteristics that relate to the topic of discussion.

We select focus groups comprised of the exact market members our clients are looking to target. We work closely with clients in selecting and running these groups to product the level of results needed to insure the client’s success.http://www.onpoint-marketing.com/marketing-glossary.htm

Food Marketing:

Food products often involve the general marketing approaches and techniques applied the marketing of other kinds of products and services. In food marketing, topics such as test marketing, segmentation, positioning, branding, targeting, consumer research, and market entry strategy, for example, are highly relevant. In addition, food marketing involves other kinds of challenges--such as dealing with a perishable product whose quality and availability varies as a function of current harvest conditions. The value chain--the extent to which sequential parties in the marketing channel add value to the product--is particularly important. Today, processing and new distribution options provide increasing opportunities available to food marketers to provide the consumer with convenience. Marketing, services, and processing added do, however, result in significantly higher costs. In the old days, for example, consumers might have baked their own bread from locally grown flour. Today, most households buy pre-manufactured bread, and it is estimated that the farmer receives only some 5% of the price paid by the consumer for the wheat. http://www.consumerpsychologist.com/food_marketing.htm

Generation X:

Born between 1965 and 1980, generation x members number 50 million in the U.S, comprising 17% of the population. Members of gen x spend $125 billion annually on consumer goods in the U.S. Generation x is characterized by a propensity for technology, skepticism to advertising claims, and attraction to personal style rather than designer price tags.

Members of generation x include a high percentage of entrepreneurs, as well as employees who easily transition from one employer to another. Since generation x members spend a lot of time in front of the computer and are comfortable with e-commerce, high impact internet marketing techniques can help compel gen x individuals to purchase online. http://www.onpoint-marketing.com/marketing-glossary.htm

Generation Y:

Born between 1981 and 1995, generation y members in America are more than 57 million strong. The y generation is the largest consumer group in the history of the U.S. Other names for generation y include Echo Boomers and the Millennium Generation.

Member of the y generation have annual incomes totaling $211 billion, according to a study from Harris Interactive. The study found that generation y spends $172 billion per year and saves $39 billion per year, and drives many adult purchasing decisions. Consequently, the y generation represents the future market for most consumer brands. The study also found that pre-teens (ages 8-12) spend $19.1 billion annually, while teens (13-19) spend $94.7 billion annually and young adults (20-21) spend $61.2 billion. 87 percent of income for children under age 13 years is adult-supplied, compared to 37 percent of teens and 7 percent of young adults, with teens and young adults relying mostly on jobs for their income.

Marketing to generation y members requires using more involved techniques than the traditional ones used to attract their parents. Member of generation y best respond to marketing methods that bring the message to places the y generation congregates, both offline and online. Successful generation y brands are perceived as hip and popular, but without the air of heavy commercialism. Also, generation y demographics show that generation y is more racially diverse, with one out of three members considering themselves non-Caucasian. One out of every four members of generation y lives in a single-parent environment and three in every four have working mothers. http://www.onpoint-marketing.com/marketing-glossary.htm

Global Marketing:

1) Marketing on a worldwide scale reconciling or taking commercial advantage of global operational differences, similarities and opportunities in order to meet global objectives.www.oup.com/uk/booksites/content/0199267529/student/glossary.htm

2) A total commitment to international marketing, in which a company applies its assets, experience and products to develop and maintain marketing strategies on a global scale. users.wbs.warwick.ac.uk/dibb_simkin/student/glossary/ch03.html

 Gorilla Marketing :

1) Also known as guerrilla or guerilla marketing, gorilla marketing produces high returns on marketing investment through unconventional activities. Gorilla marketing can be used to employ original marketing strategies of a non-traditional nature.

Gorilla marketing experts know they can build businesses by putting their resources to work forb them as opposed to their money. They achieve conventional goals by using unconventional gorilla marketing methods, utilizing creativity and innovative thinking to create marketing techniques that drive business at a reduced cost.

2) Unconventional marketing activity designed to generate maximum results by utilizing minimal resource, guerrilla marketing is carried out by creating and implementing creative marketing strategies that differ from traditional methods of marketing. Guerrilla marketers build businesses with maximum return on investment by putting their marketing know-how to work for them instead of just their financial resources.

Guerrilla marketing aims to achieve traditional marketing and advertising goals i.e. reach, exposure, frequency, awareness, etc., but by using unconventional methods. Often, this style of guerrilla marketing is associated with small businesses due to their budgetary constraints, but more and more large companies are turning to guerrilla marketing due to its increased effectiveness. It enables the small business owner to utilize creativity and innovative thinking to create unconventional marketing techniques to drive business. http://www.onpoint-marketing.com/marketing-glossary.htm

Grassroots Marketing:

Connecting with existing and prospective customers through non-mainstream media methods, grassroots marketing is also known as field marketing, word-of-mouth marketing, etc. Grass roots marketing is characterized by non-traditional and extremely flexible marketing methods. Instead of focusing solely on making sales, grassroots marketing aims at building strong client relationships that will survive the test of time.

Advantages to grass roots marketing include gaining customer loyalty and involvement, consistent repeat business, increased sales, a potentially positive effect on the community, etc. By engaging in grassroots marketing, a company focuses more on nurturing relationships and developing higher quality market share that makes them less vulnerable to competitive attacks and external economic factors.http://www.onpoint-marketing.com/grassroots-marketing.htm

Green Marketing:

The promotion of environmentally safe or beneficial products, green marketing began in Europe in the early 1980s when specific products were identified as being harmful to the earth’s atmosphere. As a result, new “green” products were introduced that were less damaging to the environment. The concept caught on in the United States and has been gaining steadily ever since.

Divergent aspects of green marketing include ecologically safer products, recyclable and biodegradable packaging, energy-efficient operations, and better pollution controls. Advances produced from green marketing include packaging made from recycled paper, phosphate-free detergents, refillable containers for cleaning products, and bottles using less plastic.

As today’s consumers become more conscious of the natural environment, businesses are beginning to modify their own thoughts and behavior in an attempt to address the concerns of consumers. Green marketing is becoming more important to businesses because of the consumer’s genuine concerns about our limited resources on the earth. By implementing green marketing measures to save the earth’s resources in production, packaging, and operations, businesses are showing consumers they too share the same concerns, boosting their credibility. http://www.onpoint-marketing.com/marketing-glossary.htm

Indoor Advertising:

A form of advertising delivered indoors in high-traffic locations, indoor advertising is recognized as effective means to reach potential customers in relatively captive locations. Indoor advertising is based on the concept that a captive audience presented with information may retain it longer than any other audience.

Indoor advertising is a cost-effective method that enables high-visibility and high-impact media placement in locations where potential customers are located. Indoor advertising should be strategically placed where it will gain unavoidable attention. Prime areas for placing indoor advertising are restaurants, sports stadiums, bars, nightclubs, and fitness centers. These high-traffic venues attract the level of attention that makes indoor advertising a viable means of gaining visibility. http://www.onpoint-marketing.com/marketing-glossary.htm

International Marketing:

Marketing activities in which a business reduces reliance on intermediaries and establishes direct involvement in the countries in which trade takes place.http://users.wbswarwick.ac.uk/dibb_simkin/student/glossary/ch03.html

Internet Marketing:   1) Online advertising is done exclusively on the web or through the use of E-mail. Various types of Online / Internet

Marketing include:www.intensedevelopment.net/website-design-O.html

2) Strategies and techniques applied on the Internet to support a company's overall online marketing objectives.www.anduro.com/glossary.html

3) Leveraging the Internet as a means of communicating a company's messaging, attracting prospects and customers, and conducting market research.www.market-vantage.com/resources/glossary.htm

4) The use of the Internet to advertise and sell merchandise or services. This involves use of Web sites and e-mail to

inform customers about a product, solicit their questions, and accept their orders directly through the electronic medium. www.denow.com/6gloss/

5) Ad blocking, banner blindness, buzzword, cookie, email spam, FFA, incentivized traffic, mouse-trapping, opt-out, page-jacking, spam, search engine spam, trick bannerwww.trendmx.com/help/website-promotion-glossary.aspx

6) Methods of using the Internet to promote products and services, includes site optimization, banner ads and pay-per-click.www.webpromotionsandiego.com/definitions.htm

7) (Also known as online marketing) the use of the internet to disseminate information, communicate with the marketplace, advertise, promote, sell and/or distribute products or services.wps.pearsoned.co.uk/wps/media/objects/1452/1487687/glossary/glossary.html

8) Internet Marketing is the use of the Internet to advertise and sell goods and services. en.wikipedia.org/wiki/Internet_marketing

Lifestyle Marketing:

Promotional activity shaped around the interests, attitudes, opinions, and way of life of consumers, lifestyle marketing works best when companies are able to connect with how their potential customers live. Consumers are immersed in a certain way of life and a good lifestyle marketing group will devise a strategy to seamlessly fit in with this way.

Lifestyle marketing concepts are developed to support the beliefs and core values of consumers. Consumers are consistently changing their perceptions, attitudes, and consumption patterns, which results in considerable effort and research to keep track of these changes.

Another factor complicating the lifestyle marketing equation is the inroads the Internet has made into consumer buying patterns. Companies must now target consumers online based on their activity and shopping habits, which can also change rapidly. Once again, constant research and investigation is the key to tapping into consumers’ needs and wants. http://www.onpoint-marketing.com/marketing-glossary.htm

Loyalty Marketing:

The practice of utilizing existing customers as a client or consumer base, loyalty marketing is an old concept with a new twist. Loyalty marketing programs have been around for centuries, based on the concept that the more a customer spends the more he gets back.

Now, technological advances have allowed loyalty marketing companies to expand on this concept, allowing every company selling almost any product to enroll their customers in a loyalty marketing program. However, for a program to be successful, companies must understand their customers, know how to differentiate between a good and bad customer, and understand what defines the two categories. It is a waste of assets to try to turn a bad customer into a loyal customer, while turning a good customer into a loyal customer can return profits to the company for the duration of the loyalty marketing program. http://www.onpoint-marketing.com/marketing-glossary.htm

Marketing Mistakes:

1. Not Marketing to a Defined Group: Find your target audience and gear your marketing plan to that audience. Trying to appeal to everyone typically does not work.

2. Inconsistency in Your Marketing Efforts: You need to have the same look and feel across all of your ads, promotions and overall marketing plan.

3. Lack of Diversification: Marketing on television, in print or on the Internet alone will reach only a portion of your potential customers. Plan to market creatively through a cross-section of media so that customers become familiar with your brand and your products at different times and in different places.

4. Not Focusing on Repeat Business: Repeat business typically makes up 80 percent of customers in most businesses. Too often marketing campaigns are heavily focused on bringing in new customers and not building relationships with current ones.

5. Starting Too Late: Time your marketing campaigns to coincide with new products, new services, seasonal sales or an upcoming event that will attract business. This typically means preparing well in advance.

6. Not Having a Clear Marketing Message: Marketing messages that are contrived, confusing, too subtle or too long can easily miss the target market entirely. The most ingenious marketing plan is wasted if no one gets it.

7. Going Overboard: If it sounds too good to be true it probably is. Too much hype will turn people away. 8. Forgetting That Slow and Steady Wins the Race: If you blow your entire marketing budget on a Super Bowl ad,

then what can you do next? Marketing means building a reputation over time through ongoing exposure. 9. Not Getting Feedback: Test your marketing ideas and do focus groups. Don’t launch it without getting some

feedback first. 10. Making a Change for the Sake of It: Just because you are tired of your marketing plan doesn’t mean it isn’t

working. Too many marketers make changes because they think they have too. Often a tried and true formula will keep working. http://www.allbusiness.com/marketing-advertising/1974-1.html

Examples of marketing mistakes

- American Motors tried to market its new car, the Matador, based on the image of courage and strength. However, in Puerto Rico the name means "killer" and was not popular on the hazardous roads in the country.

- Proctor & Gamble used a television commercial in Japan that was popular in Europe. The ad showed a woman bathing, her husband entering the bathroom and touching her. The Japanese considered this ad an invasion of privacy, inappropriate behavior, and in very poor taste.http://www.kwintessential.co.uk/cultural-services/articles/crosscultural-blunders.html

- Euro Disney was the second largest construction project in Europe, totaling $4.4 billion dollars (Hartley, 2006, p. 249). Euro Disney’s size was equivalent to one fifth of the size of Paris, and in traditional American supercilious fashion, Disney was worried that the park would be too small to accommodate the crowds (Hartley, 2006, p. 246). During the course of a year, Europeans accounted for 2.7 million visitors to the American theme parks as well as $1.6 billion dollars in merchandise revenue (p. 247). This Americanized optimism proved to be Disney’s downfall as the company created one of the worst marketing blunders of all time. Euro Disney had faced protests during the parks construction based on French sentiment that there would be a “pollution of cultural ambiance” (p.  248). Disney also admitted that it did have some worries in reference to potential cultural problems, but neglected to act upon these worries. Despite a large marketing campaign and positive feedback from the local media, Euro Disney encountered several problems with the theme park that could have been avoided if it had just invested into research of European cultures.

The first of several miscalculations made by Disney was the amount of time people would stay at the facility. Disney executives assumed that Europeans would stay at the park for four days, just like visitors did at the Orlando theme park. Europeans, however, only stayed at the park for two days at maximum before leaving; this miscalculation disrupted the projected financial numbers assumed to accumulate throughout the fiscal year (Hartley, 2006, p. 251). The second mistake Disney made was handling the traffic of the facility. Disney overstaffed the park on Fridays and the weekends to handle large crowds. However, in European culture, Mondays are the busiest day that visitors came to the park (p. 252). In addition, Disney was under the assumption that Europeans did not eat

breakfast, and because of this assumption, it downsized the number of restaurants. According to one Disney executive, “We were told that Europeans don’t take breakfast, so we downsized the restaurants. And guess what? Everybody showed up for breakfast. We were trying to serve 2,500 breakfasts at 350 seat restaurants. The lines were horrendous” (p. 252). Another marketing mishap on behalf of Disney was how the souvenir stores were setup. Disney was under the impression that Europeans enjoy more lavish things, so it removed most of the inexpensive souvenirs from the shelves. This strategy was based on unfounded assumptions and implemented at a time when Europe was in the midst of a recession (p. 251). However, Disney’s biggest mishap came from overlooking one of the most common conventions of European culture.

One of the flagstones of French culture is the abundance of wine. Wine is a commonality found at the lunch and dinner table, served more often than water throughout France and the rest of Europe. Disney neglected to look into this matter and instituted its American policy of serving no alcohol within the confines of the park (Hartley, 2006, p. 252). This oversight caused dismay among the park’s attendees because something so valued in their culture was neglected by this theme park. The policy’s implementation caused separation between Europeans and Euro Disney; this was a violation of their cultural norms and made them feel as if they were experiencing America, without traveling as far. Due to its blatant failure to engage in ethnographic research and show respect for cultural norms, Disney offended the French and helped foster further resentment against America.

On the other hand, Kentucky Fried Chicken is an example of a company that learned a cultural lesson quickly and turned itself into a large success. When Kentucky Fried Chicken initially entered the Japanese market, it was unsuccessful. It had employed a Westernized business model that was not yielding expected profits. Instead of being stubborn and sticking to its marketing plan, KFC did research into the Japanese culture and found reasons why the plan was unsuccessful. The first problem was the size of the food: research discovered that Japanese people like smaller sized pieces of food, not the large portions that they were currently being offered. The second problem was the choice of restaurant locations. Though KFC tends to set its restaurants apart from busy cities and stick to suburbs, the Japanese prefer restaurants to be in crowded city areas and not on independent sites (Horn & Davison, 1990, p. 9). Attention to this cultural preference increased the popularity of KFC in Japan. Other restaurants have also used similar strategies, such as the poster child for globalization, McDonald’s. McDonald’s has been able to transform itself into a global entity because of its respect for cultural relativism. Every country in which it operates has some type of ethnicity reflected in the menu. McDonald’s is judged unfairly, as the mere mention of its name conjures up cultural imperialism. Though McDonald’s may be everywhere, it at least adheres to some principles of individual cultures, which makes it successful everywhere it goes.http://civildiscourse.rwu.edu/journal/content.aspx?content_id=14

Marketing Mix :

A combination of marketing elements used in the sale of a particular product, the marketing mix is centered on combining elements of the four p’s of marketing: product, price, place, and promotion. These marketing mix components must be combined in an optimal manner depending on the nature of the products and services. In determining the marketing mix, one should carefully define the marketplace, the product positioning, and the unique selling proposition.

Today, many brand marketers and ad agencies believe that one-to-one marketing is a key ingredient in the marketing mix. They share the opinion that adding a large dose of up close and personal interaction sparks consumer behavior.

Companies are also challenged with establishing a well-balanced marketing mix online. There are many options available when it comes to online marketing, which makes it imperative to choose components of the marketing mix that provide the highest return on investment.http://www.onpoint-marketing.com/marketing-glossary.htm

Marketing Research:

On point's Marketing Research Services Example:We help develop and implement successful marketing campaigns that are focused and targeted toward a desired audience. Through marketing research a business can identify new opportunities in the marketplace, identify and resolve potential problems, as well as evaluate success. Using marketing research companies like ours can help reduce the risk of doing business by identifying opportunities for future business as well as establish risk factors. The key is making the right partner selection when choosing from the marketing research firms available.

We realize how important it is for you to understand your potential and exiting customers needs and wants. That is why we help you gather the critical information that will contribute to the success of your business. We perform the fundamental types of marketing research designed to reach your target market in a cost-efficient and expedient manner. Our efforts are designed to ensure the information you retrieve is accurate and useful. http://www.onpoint-marketing.com/marketing-glossary.htm

Marketing to College Students:Targeted towards the college and university demographic, marketing to college students is a key component of youth marketing, particularly given the enormous discretionary spending power college students possess. Additionally, many brand relationships are formed while these consumers are in college, making it a critical time to acquaint them with a brand.

Marketing to college students requires reaching them in the most effective manner possible. Certain options such as direct mail are generally not worthwhile due to college students’ mobility. Mainstream TV, print, and radio are also proving less and less effective. Instead, direct promotions, campus tabling, one-to-one marketing, and alternative indoor/outdoor advertising are proving to be more viable marketing options. Other options of marketing to college students include advertising in college newspapers, posting tear sheets on bulletin boards, passing out flyers, etc.

Additional ideas for marketing to college students include building relationships with student government and campus organizations, coordinating and overseeing events to raise campus awareness of a product or service, and scheduling speaking engagements that reach the target audience. http://www.onpoint-marketing.com/marketing-glossary.htm

Medical Marketing:

Advertising and promotional efforts, medical marketing focuses on the exclusive needs of healthcare, pharmaceutical, and managed care companies. The target audience in medical marketing activities includes registered nurses, pharmacists, diagnostic professionals, and other medical personnel who have been trained to communicate with doctors, patients, and other medical providers.

Successful medical marketing requires the knowledge of well planned and tested marketing strategies that enhance competitive advantage and expand profitability. Ideally, medical marketing professionals should understand how to create a competitive advantage, engage in strategic pricing, build brand equity, practice data-driven marketing, possess strong relationship management skills, and creatively resolve problems.

Medical marketing professionals recognize the importance of working closely with their potential and existing clients to identify their unique issues and needs. By implementing an in-depth understanding of product and service knowledge and how it relates to their individual challenges, a specialist in medical marketing can tailor products and services that create solutions. http://www.onpoint-marketing.com/marketing-glossary.htm

Mobile Marketing:

1) Using mobile communications to carry out marketing campaigns. www.internetworld365.com/Content/Pages/Glossary.aspx

 2) M-marketing: (also known as mobile marketing) see wireless marketing.

Wireless marketing: the use of text messaging via a mobile telephone as a means of marketing communication.http://wps.pearsoned.co.uk/wps/media/objects/1452/1487687/glossary/glossary.html#W

Multinational Marketing:

Adaptation of some of a company’s marketing activities to appeal to local culture and differences in taste.http://users.wbs.warwick.ac.uk/dibb_simkin/student/glossary/ch03.html

Music Promotions:Promotional activity focused on selling the musical productions of songwriters, bands, and musicians, successful music promotion results may result in the placement of music in broadcast and film, getting picked up by a record label, increased CD sales, etc.

Music promotion can include anything from radio/television advertisements, to reviews in magazines, to newsletters sent to existing and potential fans. Press releases also go a long way in music promotions, as they can reach a very large audience at virtually no cost except for the writing and submission services.

Word of mouth is one of the most powerful methods of music promotion. Fans like to talk about their favorite artists and songs. However, word-of-mouth music promotion goes further than just talk. Fans play the music, sing the songs, and wear related clothing, body art, etc. Fan loyalty is a major component of music promotion and should never be discounted. http://www.onpoint-marketing.com/marketing-glossary.htm

Non-Profit Marketing:

Marketing activity undertaken by a firm whose primary objective is one other than profit; sometimes called Non-Business Marketing. http://www.buseco.monash.edu.au/mkt/dictionary/nnn.php

On-Line Gambling:

Betting on sports or casino type games over the Internet. http://www.bitpipe.com/tlist/Online-Gambling.html

One-to-One Marketing:

Promotional activities aimed directly to the consumer, one-to-one marketing encompasses door-to-door selling, shop-at-home parties, telemarketing, product sampling, etc. Consumers are offered the advantage of convenient and personal attention. Reaching the consumer through one-to-one marketing enables a business to establish a business/client relationship based on trust, reliability, and loyalty that can extend far into the future.

One-to-one marketing provides an opportunity for the marketer to get to know consumers at face value, as well as needs and wants. Face-to-face interaction provides the opportunity to build consumer confidence and trust. Follow up materials are excellent tools to implement in one-to-one marketing, but it is the initial personal marketing effort that attracts and recruits consumers. http://www.onpoint-marketing.com/marketing-glossary.htm

Product Placement:

The process of integrating an advertiser’s product into non-obtrusive media settings, product placement in movies has been a popular alternative marketing strategy to date. The benefit to the marketer is the exposure to a large audience in an environment that is perceived to be objective.

During a time when consumers are getting saturated with traditional media advertising, product placement in films is a method of advertising that reaches consumers in a seemingly indirect fashion. Often, consumers do not even realize they are being marketed to. Product placement in movies can sometimes happen in an indirect fashion, but is generally arranged in exchange for financial compensation. Product placement agencies and companies typically arrange these agreements, which can be costly. http://www.onpoint-marketing.com/marketing-glossary.htm

Relationship Marketing:

A system of data analysis and communications, relationship marketing extracts information about a customer gathered during the history of the customer's relationship with the company, and uses this information to market to the customer in a way that promotes trust and loyalty.

Relationship marketing works on the methodology of moving customers through five levels of loyalty in the most expedient and cost-effective manner possible. The five levels of relationship marketing consist of awareness, recognition, preferences, commitment, and endorsement.

There are two key components of relationship marketing. The first component is communications strategy, which is made up of consistent communications to customers on a regular basis. The second component of relationship marketing is tactical invasion, which translates to keeping the customer informed of new products and services, updates, pricing information, market conditions, etc. http://www.onpoint-marketing.com/marketing-glossary.htm

Social Marketing :

The planning and implementation of programs designed to generate social change, social marketing is a system that can be used to change the way people think or behave.

However, social marketing is still based on concepts of commercial marketing. Social marketing, like commercial marketing, utilizes research to tailor messages to a particular target audience. For example, if a company is promoting an issue of major importance to encourage women to take part in annual mammogram testing, the target audience would obviously be women. Consequently, a social marketing campaign would concentrate on adapting commercial techniques to attract and persuade women.

The goal of social marketing is to get people to think differently about old ideas and focus on new concepts that will add values to their lives. Social marketing is especially prevalent among non-profit, organizations, government agencies, community-based organizations, private foundations, social/health/issue coalitions, and any entity that wants to make social change. http://www.onpoint-marketing.com/marketing-glossary.htm

Social Responsibility in Regards to marketing:

The recognition by marketers that the well-being of society and customer satisfaction are as important as profits in assessing marketing performance. http://www.buseco.monash.edu.au/mkt/dictionary/sss.php

Special Event Planning:

Activities designed to create brand awareness, special events include functions such as conferences, seminars, workshops, corporate launches, fashion shows, exhibitions, road shows, theater productions, concerts, and other activities where the goal is to attract an audience.

A well-planned special event does not just happen. It requires careful planning and attention, which can includes every detail from ordering invitations to promoting the actual event. Special event planning items to be aware of include developing and implementing logistics, strategic planning, public relations, sponsorship development, volunteer coordination, site management, and marketing.

Ideas for advertising special events may include mailing list of targeted participants, placing newspaper ads, and hanging banners near the special event site. Other ideas for promoting special events include using PR to get radio/television mention, distributing promotional items to target groups, assembling volunteers to spread the word, providing free ticket offers, and developing special events co-sponsorships. http://www.onpoint-marketing.com/marketing-glossary.htm

Sponsorship Marketing:

An investment by a company in an organization or property in exchange for commercial benefits, sponsorship marketing is used by companies to increase sales, target specific markets, facilitate customer/employee loyalty, and enhance brand/image.

Sponsorship marketing is becoming a popular ingredient in the marketing mix. Companies are beginning to hire experts and inside employees to take a more strategic approach to engaging in sponsorship marketing and

expenditures in sponsorship marketing have increased by 250% in North America during the past 10 years. Sponsorship marketing can open the door to direct sales opportunities and provides measurability in both quantitative and qualitative terms. http://www.onpoint-marketing.com/marketing-glossary.htm

Sports Promotion:

Creative events providing maximum exposure, sports promotions include the creation and implementation of sponsorship and event marketing activities to attract an audience. Critical elements of sports promotion encompass athlete representation, marketing consulting, integrated event management, and sponsorship fulfillment.

Various sports promotions marketing services may offer integrated sponsorship programs, including development of sponsor strategies, sponsor rights negotiation, etc. Sports promotion companies may also offer event marketing, celebrity endorsements and appearances, and strategic planning.

In carrying out sports promotions marketing activities, it is important to understand the goal of the campaign. Positive results and ultimate success are achieved through implementing a balanced mix of branding and fan entertainment. The success or failure of the sports promotion activities can reflect on the individual or organization the sports promotion campaign is being conducted for. http://www.onpoint-marketing.com/marketing-glossary.htm

Strategic Marketing:

The process of building and executing a marketing campaign according to set criteria, strategic marketing plans are based on the selection of a target market segment and a position within the market in terms of product characteristics, pricing, distribution, and promotion. Strategic marketing plans help establish goals for the business, help differentiate it from the competition by maximizing strengths while minimizing weaknesses, and often find a niche the business can exploit.

A strategic marketing agency is often brought on to enable a business to blend its sales and marketing disciplines and leverage its unique strengths while fostering effective relationships with organizations that can help offset any weaknesses in the market. Since strategic marketing plans require careful analysis and forethought, the business must examine its marketing motives and discover what steps it needs to take to implement each element of the plan. In other words, strategic marketing requires a certain level of accountability. Utilizing the services of a strategic marketing agency can often help foster this accountability, since the strategic marketing agency can provide a clear analysis free of any internal company politics. http://www.onpoint-marketing.com/marketing-glossary.htm

Strategic Marketing Plan:

Detailing a company’s marketing strategy, a strategic marketing plan may be developed for a single item or a company’s entire line of products and services. The strategic marketing plan identifies and defines the marketing goals and objectives to be accomplished over a designated period of time.

In addition, the strategic marketing plan outlines responsibilities necessary for successfully carrying out actions. Basic strategies for a strategic marketing plan include product development, defining a target market, and determining what types of media and promotion will be used.

A well-defined strategic marketing plan is essential to any business. A company needs to constantly enroll new customers if it to expand. If it cannot reach new potential clients, it cannot grow. A strategic marketing plan enables a company to reach its target market and position itself for growth. It should be developed for a period projecting a minimum of one year out. After the first year, marketing efforts should be reevaluated and an updated marketing plan put into place. http://www.onpoint-marketing.com/marketing-glossary.htm

Street Marketing:

Street marketing is the art of taking your product directly to the people to whom you're trying to sell. Rather than depending upon traditional advertising venues such as newspapers, television and radio, you're using a live person to sell your product face to face. http://www.nfib.com/object/3150421.html

Targeted Marketing Services:

Campaigns aimed at a particular group of individuals, targeted marketing is geared to reach specific groups a company wishes to market to. The goal of targeted marketing services is to match the needs and wants of its audience with a specific message tailored to answer those needs and wants. Targeted marketing typically seeks to penetrate niches, such as brides to be, expectant mothers, balding men, etc.

Although targeted marketing services may initially seem more expensive on a per-person basis, they can often be much more effective in terms of the lower cost of actual customers acquired, since there is les waste in targeted marketing, not to mention higher customer acquisition rates. A well-balanced targeted marketing campaign strives to capture a majority of a target segment carefully through specific marketing actions tat produce a high return on investment.

From a b-to-b perspective, targeted marketing makes wise usage of distribution dollars since it allows marketers to focus on establishing collaborative business-to-business relationships with specific sales channels. http://www.onpoint-marketing.com/marketing-glossary.htm

Teen Marketing: Advertising and promotions aimed towards youth aged 13 to 19, teen marketing is actually broken down into sub-segments dependent on age. Consequently, there will be a substantial difference in a teen marketing campaign aimed at 13-14 year olds compared to one aimed at 18-19 year-olds.

When planning a teen marketing campaign, it’s important to remember that teens have very strong opinions about things affecting their lives and like to be heard. Teens are brand conscious, making it a requirement to keep a brand constantly in front of teens, but avoiding any efforts that are blatantly commercial. Teens are also celebrity conscious. Thus, a teen marketing campaign that can integrate popular teen celebrities has a good chance of success if carried out correctly.

Today’s teens are extremely technologically proficient, leading the way in usage of media including video games, instant messaging, internet, etc. Any marketer planning on marketing to teens must take this technological savvy into consideration. http://www.onpoint-marketing.com/marketing-glossary.htm

Trade Show Marketing:

A method of promoting a business through the exhibition of goods and services, trade show marketing is generally conducted in an environment where exhibitors rents display space. Trade show marketing may also be conducted at seminars and lectures based where new concepts are presented and ideas exchanged.

Trade show marketing enables the company to meet a large number of potential clients face to face. Trade show marketing helps make an impression upon a target audience in a setting where many of the attendees are primed to conduct business. http://www.onpoint-marketing.com/marketing-glossary.htm

Vehicle Wrap Advertising:

An innovative method of promoting a brand, vehicle advertising uses a vehicle as a moving billboard, creating a high retention rate among potential customers who see it. Vehicle advertising can be seen on freeways, city streets, parking lots, etc.

Vehicle wrap advertising uses semi-permanent graphics that can be removed without harm to the if desired. Other forms of vehicle advertising consist of magnetic signs, bumper stickers, window decals, and advertisements painted directly onto the car. Companies seeking to attract attention have found vehicle advertising to be an effective and relatively inexpensive promotional method. http://www.onpoint-marketing.com/marketing-glossary.htm

Wireless Marketing:

Marketing to consumers via mobile phones, wireless marketing works just like other channels of advertising, as it sponsors or subsidizes content. As an example, wireless marketing has enabled large consumer companies to sponsor wireless versions of fantasy sports leagues.

Wireless marketing enables marketers to measure and track wireless response in real time and quickly respond based on the responses received, making wireless similar to email, web sites, call centers, and other two-way channels that

are direct to the customer. Wireless marketing provides interactive communication wherein the consumer can provide information to the company and the company can respond with information.

Another example of wireless marketing is a trivia contest implemented by Nestle where the consumer was engaged in a series of questions, where as one question was answered another arrived. Through this series of messaging, the consumer gained bonus points for providing specific information, which Nestle used to support its marketing research. http://www.onpoint-marketing.com/marketing-glossary.htm

Word-of-Mouth Marketing:

Favorable communication that is transmitted from a satisfied customer, word of mouth marketing is used to promote a product or service to a family member, friend, co-worker, acquaintance, or anyone else who may be a prospective customer for the same product or service.

The elements of an effective word of mouth marketing strategy require that it allows for effortless transfer of information, encourages common motivation and behavior, and uses the resources provided by others.

Word of mouth marketing is very potent, as it implies an endorsement from a trusted friend. Word of mouth marketing is also compared to viral marketing and buzz marketing. The concept behind word of mouth marketing in any form is to create a snowball effect that will drive potential business to the business for little or no cost. http://www.onpoint-marketing.com/marketing-glossary.htm