HBM 131 1st Edition Lecture 29Outline of Last Lecture:I. MarketingOutline of Current Lecture:I. Class Presentation on MarketingII. Class Presentation on Marketing Current Lecture:I. Class Presentation on MarketingA. Importance of Marketing1. Get the word out2. Higher sales3. Company reputation B. Example: Nike1. Logo2. Creation of “story” ads3. Focus on hero athletes (Michael Jordan)4. #1 shoe and apparel company in the worldC. Example: Starbucks1. Rely on word of mouth -No billboards, ads, etc.2. Social Media MarketingD. Example: Nordstrom 1. Open return policy 2. Customer service care3. Product presentation 4. Get away from desk (servers walk around)E. Example: Chipotle1. Green and responsible business2. Food integrity (local foods)3. Chipotle cultivate foundation 4. Minimal advertising5. Burrito for life card (Michael Jordan) 6. Televised commercials (rare)-The scarecrow adF. Highlights1. Focus on her athletes (Nike)2. Customer service (Starbucks)3. Product presentation (Nordstrom)4. Eco-friendly business (Chipotle) 5. 3 to 6% overall budget goes to advertising word of mouth advertising is kind of free II. Presentation on Marketing: Internal vs. External A. Internal1. Within the company2. Loyalty program B. External1. Going outside company 2. Social MediaC. Facebook advertising 1. More people, more devices, more often2. Finding right customers with better targeting3. Reaching right people more efficiently 4. 47% more cost effectiveD. Youtube advertising1. Highly effective2. Massive audiences3. Types of Youtube ads-Standard banner ads-In-sides overlay ads 4. In stream video ad-Most common today -5 second minimum-Most think it’s annoying -If viewer skips ad- don’t have to pay anything to Youtube5. Business channels-Free -Shows goods and services-Less attractive6. Twitter advertising-Effective-Trending-Promoting -Today’s advertisement (our generation) -98% large companies use Twitter-It’s a free app-Popular social media-Fast updates and promotions -Business can trend with hastags and retweets- almost free
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