MKT 300 4th Edition Lecture 5Outline of Last Lecture I. Sustainable Competitive AdvantageII. The Marketing PlanOutline of Current Lecture I. Social and Mobile MarketingII. The 4E Framework for Social MediaIII. Social Media SitesIV. Going Mobile and SocialCurrent LectureI. Social and Mobile Marketinga. Superbowl Commercials coming sooni. “The Force” Volkswagen commercial (most shared Superbowl video threeyears ago)ii. Mountain Dew KickStart using Snapchat in pre-game commercial1. Snapchat Discover coming soon!b. Social media needs to be a part of a company’s strategyi. #SocialNomics of 2014 videoii. Denny’s “Hashbrowns on fleek”1. Have special marketing team concentrating solely on social mediac. User-generating content: getting customers involvedi. Users sending in videos of themselves using the productii. #PackAttackII. The 4E Framework for Social Mediaa. Excite the customeri. Offer must be relevant to its targeted customerii. Make things interesting/newiii. Live tweeting during events to promote marketingiv. Speed Stick GEAR zip line addThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.v. Relevancy can be achieved by providing personalized offersb. Educate the customeri. Use social media for good causes: breast cancer awareness; ALS ice bucket challengeii. Launch products on social media (Taylor Swift’s album)c. Experience the product or servicei. Demonstrate with how-to videos on social media; simulating real experiencesii. Find information about a firm’s goods and servicesiii. Lego Fusion: build your creation, then see it enter virtual world on appd. Engage the customeri. Action, loyalty, and commitment1. Action: initial purchase2. Loyalty: buy again and again3. Commitment: only buy your productii. Can be positive or negative1. GAP’s new logo was hated, so returned to original after two daysIII. Social Media Sitesa. Social Network Sitesi. Facebook, LinkedIn, Google Plusii. Users of social network sites:1. Creators: generating new content2. Bonders: use to connect with others3. Professionals: use for their career4. Sharers: give insight/help othersb. Media Sharing Sitesi. YouTube, Instagram, Vine, Flickr, Pinterestii. Share content1. Shawn Mendes became famous because of Vine2. “When YouTube stars fall in love”c. Thought-Sharing Sitesi. Blogs, Twitter, Buzzfeedii. Professional: paid to post opinionsIV. Going Mobile and Sociala. Price Check apps, Location apps, Fashion appsi. Price: Cartwheel with Targetii. Location: Foursquareiii. Fashion: Posh Mart1. #1 Snapchat: 700 million photos2. #2 Uber3. #3 What’s Appb. Listeningi. Sentiment analysis: Scanning social media to see preferences of customersii. Desire to know who visits their websiteiii. Klout: how you compare to others on social
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