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	<title>MBA Notes</title>
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	<pubDate>Sun, 07 Sep 2008 18:24:25 +0000</pubDate>
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		<title>MBA Notes - Small Business Marketing</title>
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		<pubDate>Thu, 04 Sep 2008 16:14:03 +0000</pubDate>
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Have you been wondering how to translate your success in the  large-enterprise market into successful selling to the fast-growing and  profitable small-business market? 
Though you might be an expert when it comes to marketing to large  businesses, selling your products and services to smaller companies  requires an entirely different strategy. 
While [...]]]></description>
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<p>Have you been wondering how to translate your success in the  large-enterprise market into successful selling to the fast-growing and  profitable small-business market? </p>
<p>Though you might be an expert when it comes to marketing to large  businesses, selling your products and services to smaller companies  requires an entirely different strategy. </p>
<p>While still on the rise, large-IT budgets are not increasing as  quickly as small-business budgets. Worldwide small-business IT spending  is increasing at 10% annually, while large-IT spending is increasing  only 4%, according to Computer Economics. </p>
<p>Technology usage by small businesses is rapidly increasing as the  price points of both hardware and software products drop and technology  solutions advance along adoption curves. This makes the small business  market an attractive new growth opportunity for many technology  vendors, but the rules of success in the small business market are  different from those of enterprise markets. </p>
<p>Product features, high-value price points, distribution channels,  and the connection of technology solutions to the small business  owner&#8217;s overall success are critical to penetrating this market  segment. </p>
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MBA Courses</p>
<p><strong>Misconceptions—and Actualities</strong></p>
<p>The mistake many technology companies make is to view theses small  businesses like a big enterprise, but with simpler needs and a small IT  budget. These companies often believe they can delete a few features  from their enterprise solutions and sell them at a lower price. This  simplistic approach is a recipe for disaster. </p>
<p>In developing a small business market strategy, keep in mind the following key factors: </p>
<ul>
<li>The &#8220;small business market&#8221; is not a single market. Small  businesses vary by size, vertical, and the speed of adopting  technology. In developing a plan to enter this market, technology  vendors need to sub-segment the market based on customer needs and the  solutions offered. </li>
<li>Small businesses have needs different those of large  enterprises. They aren&#8217;t interested in purchasing big solutions that  have unnecessary functionality that will get in the way of what they&#8217;re  trying to accomplish. Keep in mind that these companies can&#8217;t afford  the overhead of a full-time IT staff or expensive implementation costs.  The best solutions need to go in quick and be easy to maintain, while  still providing scalability as the business grows. </li>
<li>Because of lower average selling points, the cost of sales  for the small business market segments must be lower than for large  enterprise sales. A direct model is virtually impossible to sustain  profitably. Distribution through two-tier channel partners (VARs),  online sales, and retail presence are critical to achieve the reach  required and the price points needed to offer compelling solutions. </li>
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<ul>
<li>When marketing to small businesses, you will face new competition  from many smaller and regional players that provide focused solutions  for niche markets. If you want to successfully compete against these  niche players, you need to be able to position your technology against  a multitude of offerings in a low-touch sales model. </li>
<li>Small business buyers are much more apt to turn to the  Internet and online communities for purchasing advice. With the growth  of these online resources and communities, it&#8217;s important to use some  of your marketing dollars to tap into these large networks. </li>
</ul>
<p>MBA great degree</p>
<p><strong>Examples of Success</strong> </p>
<p>Bear in mind that while many large technology vendors are entering  the small business market, there are only a few notable success  stories. For example, NetSuite&#8217;s small business ERP solution offers the  only online business application that streamlines both front- and  back-office operations for small businesses, allowing companies to make  &#8220;smarter, faster decisions&#8221; with accurate real-time metrics of crucial  business data. </p>
<p>As one of the first online, on-demand ERP solutions, NetSuite got a  head start in marketing to small businesses. The company&#8217;s success is  credited to its focus on its strategic price points as well as ease of  purchasing additional features, along with the growth of its customers&#8217;  businesses. </p>
<p>Meanwhile, Intuit, the maker of Quicken and QuickBooks, can justly  claim it knows more about the current state of small businesses than  anyone else, based on its dominance of the small-business accounting  market. It recently teamed up with The Institute for the Future to  produce a lengthy report titled the &#8220;Intuit Future of Small Businesses  Report,&#8221; which takes a look at what small businesses will look like in  the coming decade. The report highlights how a new breed of  entrepreneurs will emerge, including women, immigrants, and baby  boomers. It is their interests, financial needs, and social goals that  will fuel small-business growth over the next decade. </p>
<p>To reach this growing market, Intuit has aggressively pursued new  ways to target these small businesses. Last year, Intuit partnered with  Google to provide tools that help small businesses use its financial  software to help market themselves online. </p>
<p>Meanwhile, the company maintains a site for small businesses with  advice message boards and a free site called &#8220;JumpUp,&#8221; which helps new  businesses get up and running. </p>
<p>Intuit&#8217;s success in marketing to small businesses stems from its intensive market research and closeness to its target market. </p>
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		<title>MBA Notes: SWOT Team</title>
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		<pubDate>Tue, 26 Aug 2008 11:18:28 +0000</pubDate>
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		<description><![CDATA[MBA Notes

“Change the font.” 
“These colors are all wrong.” 
“Don&#8217;t like that word. Use this one instead. Hey, what about our  mission statement? I didn&#8217;t see it. That needs to go on the front.” 
Executive- and director-level managers have their own quirks as to  what they like and don&#8217;t like in presentations, project [...]]]></description>
			<content:encoded><![CDATA[<h3><a href="http://www.mba-outliine.com">MBA Notes</a></h3>
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<p>“Change the font.” </p>
<p>“These colors are all wrong.” </p>
<p>“Don&#8217;t like that word. Use this one instead. Hey, what about our  mission statement? I didn&#8217;t see it. That needs to go on the front.” </p>
<p>Executive- and director-level managers have their own quirks as to  what they like and don&#8217;t like in presentations, project plans,  contracts and what-have-you. </p>
<p>Many of us get frustrated and think, “C&#8217;mon! It&#8217;s just a  presentation! Those changes aren&#8217;t going to impact the information  presented!” On occasion, valid suggestions do affect the content—but  result in missed deadlines. Time runs out, and whatever material is in  the current version becomes the final version. When this happens, how  late is the presentation? How much time has been wasted that the  presenter could&#8217;ve used to prepare for giving the presentation? </p>
<p>Does this vicious cycle of trying to please everyone with a document  have to happen to avoid stepping on political landmines? You finish the  draft early enough to have the final done on time, yet it rarely meets  the deadline—thanks to the picky feedback from others who won&#8217;t let it  move forward until they&#8217;ve eyeballed it. <a href="http://www.surveymonkey.com/s.asp?u=28573531504" target="_blank">What are ways of dealing with approvals to get a document completed on time and with fewer go-arounds?</a></p>
<p>MBA<br />
<!--adsense--></p>
<p>Those not stuck on the merry-go-round of documentation, hop on board  and share your frustration with our readers. Does a boss or coworker  have you pulling out hair? Has leaders hip or morale hit rock bottom?  Is your marketing organization stable, or does it bounce up and down  like the ponies? <a href="http://surveys.internetviz.com/s.asp?u=9811244844" target="_blank">Get on the e-bullhorn and tell us about it</a>, and we will ask the 100,000 MarketingProfs readers how they would handle it. You will receive a free copy of our book, <a href="http://www.internetviz.com/marketsguide.htm" target="_blank"><em>A Marketer&#8217;s Guide to e-Newsletter Publishing,</em></a> just for dropping us a note with a new topic to get us all talking. </p>
<p><strong>This Week&#8217;s Dilemma</strong></p>
<blockquote dir="ltr">
<p><strong><em>‘Can&#8217;t please everyone&#8217; syndrome affects our presentations</em></strong></p>
<p><em>How do I manage the creation of a master corporate-capabilities  slide presentation when there are multiple executive VPs playing the  role of reviewer/approver? These kinds of presentations are subjective  in so many ways—graphic elements, story structure, level of detail,  content flow, font style, EVERYTHING! I want to avoid the political  landmines that I&#8217;ve encountered in the past. How do we create a slide  deck for everyone to approve? <a href="http://www.surveymonkey.com/s.asp?u=28573531504" target="_blank">How can we assure the project is done on time with fewer approval rounds?</a></em></p>
<p><em>—Senior Product Marketing Manager</em>, MBA</p>
</blockquote>
<p><strong>Previous Dilemma</strong></p>
<blockquote dir="ltr">
<p><strong><em>How do I break into marketing?</em></strong></p>
<p><em>I&#8217;m still a college student who has been lucky to expand and  enhance my MarCom abilities for the past five years though work  experience. In the last year, I was placed in the position of Director  of MarCom (I&#8217;m sure due to trust in me and the lack of budget); anyway,  I have matured through this position faster than I have with anything  learned in business school, and now I am considering a venture into  different industries to get more experience. Where do I start? How did  other marketing professionals come into their careers? How do I  convince people I might actually be good at what I do despite my age? I  plan on continuing my degree through my university, but in the mean  time, where do I begin? </em></p>
<p><em>—An MBA student</em> </p>
</blockquote>
<p><strong>Summary of Advice Received</strong></p>
<p>Dear student, you&#8217;re off to a great start, because you&#8217;re building  experience while receiving your education. Any experience gained while  in college gives a boostyou&#8217;re your resume. Students are encouraged to  take advantage of internships, part-time jobs, summer programs…  anything that offers knowledge and skills that transfer to the business  world. </p>
<p>In this wild job market, many students don&#8217;t get the job they want  right away. Readers offer tips to increase your chances of getting your  ideal position. </p>
<blockquote dir="ltr">
<p>1. Market the product—<em>you</em>! </p>
<p>2. Use the network. </p>
<p>3. Explore other avenues. </p>
</blockquote>
<p><strong>1. Market the product—y<em>ou</em>!</strong></p>
<p>After leaving college, AJ Smith, the marketing guy at Niche Retail, found a tough job market waiting for him: </p>
<blockquote dir="ltr">
<p><em>I did some freelancing, then took a job for a very low salary  designing a sports retailer&#8217;s Web sites and preparing graphics. I  tapped into online marketing, created a budget, found my targets, and  turned over a great deal of ROI for them. Soon after, I updated my  resume on Monster.com and my phone started ringing. Then I found a  great job doing marketing for another online retailer. The rest is  history. So what&#8217;s the trick? Develop your own proven results. Compile  a track record of your successes. Most of all, market yourself. Your  ability to market yourself to a company directly reflects your ability  to market, period. </em></p>
</blockquote>
<p>When creating your resume, use a task-directed approach recommends Luis Javier Rodriguez of Gilvi publicidad: </p>
<blockquote dir="ltr">
<p><em>By constructing an accomplished-task-directed resume, highlight  your achievements inside MarCom as seen from a managerial point of  view. After thoughtfully researching the competitive landscape, apply  for job interviews in your fields of interest. This will show your  interest and how you can translate your skills to a new field. </em></p>
</blockquote>
<p>A director at GENESIS, Adrian Woodliffe, has worked as a management  consultant where he also undertook executive recruitment focusing on  marketing/communications and senior exec/CEO areas: </p>
<blockquote dir="ltr">
<p><em>I also used to find the time to talk to marketing grads. Few  other people used to make the time to help these people. But I saw them  as being the business leaders of tomorrow. On occasion, I would also  need to recruit them for specific clients. The biggest advice I can  give grads is this: You have been trained to think strategically, as a  commercial specialist. Why not apply the same techniques to yourself?  Think of YOURSELF as a product/service. The same principles apply—don&#8217;t  they? You are an emerging entity. You want to get on the “shelf,” to be  considered and then “bought.” Simplistic terms, but the analogy is  relevant. </em></p>
<p><em>So, how you plan your approach to the market should be on the  same sound foundations as if you were developing/launching a new  product. After all, you are a brand. What are your differentials? What  is your value proposition? What values do you extol? Remember  packaging. It&#8217;s amazing how many people who want to get into the area  of marketing simply put together an A4 [paper] CV [or resume] and, at  most, consider using nice paper stock. Oh, and color? Nah, old hat. You  wouldn&#8217;t present the most amazing thing since sliced bread on A4 white  paper would you? Why do it to yourself? </em></p>
<p><em>So think brand. Think strategy. This also means that you will  probably be much more TARGETTED in who you talk to regarding job  positions. Be selective. Find out more about the company than what they  present to the market. Delve. Research and tailor your approach  accordingly. </em></p>
</blockquote>
<p><strong>2. Use the network</strong></p>
<p>The saying, “It&#8217;s not what you know, but who you know” is true; but  what you know is still important. Several readers have indicated that  they found jobs through their networks. If you need help developing  networking skills, some excellent books may help, such as <a href="http://www.amazon.com/exec/obidos/ASIN/0071409998/" target="_blank"><em>The Networking Survival Guide.</em></a> Joining Toastmasters or a similar public-speaking group is also beneficial. </p>
<p>Dominique Grinnell, director of marketing at VPA, Inc., believes that networking is the best way to make professional moves: </p>
<blockquote dir="ltr">
<p><em>Get your story together, which is a 30- to 60-second pitch  statement about who you are professionally, your goals, and how you can  enhance an organization. Start talking to alumni of your school, past  work colleagues, and anyone else who will listen to your story. Find  some companies where you think you might want to work and set up  informational interviews with the heads of marketing there to find out  what the environment is, what skills are transferable, and what skills  you will need to add. </em></p>
<p><em>Your age is not an issue if you are confident, competent,  diplomatic, and willing to put yourself out there. You may have to put  issues of ego aside if you find a company you want to work for—they may  want you at a lower level. As long as you can grow and it&#8217;s in a good  environment this may be a good deal. </em></p>
</blockquote>
<p>A reader says the experience gained while studying is valuable: </p>
<blockquote dir="ltr">
<p><em>My experience was that while studying for a bachelor&#8217;s of  commerce (marketing), I worked for a catering company as a food/drinks  waiter at functions. In my final year, I looked for graduate roles  unsuccessfully, but contacted a sales and marketing manager that I had  met through the catering company. It just so happened that a sales and  marketing coordinator role was just coming up. My already established  relationship and experience with the company played a big part (bigger  than years of study, I think) in getting the job. </em></p>
<p><em>After 18 months, I successfully applied for another marketing  coordinator role for the corporate marketing department of the company,  a good step up. The lesson I learned was that while my studies have  helped me perform well in the job, they were not important in getting  the job in the first place. Contacts are vital—your prospective  employer wants to be able to trust you, and for that they need to  already know you or have a strong recommendation by someone who knows  you. </em></p>
</blockquote>
<p>Another reader has received half of his job interviews through  networking and the other half through traditional searching. Taking  advantage of other opportunities may also help you find your ideal  position. </p>
<p><strong>3. Explore other avenues</strong></p>
<p>Doug Davila, director of new business at Slack Barshinger, points to nonprofits as a great resource for gaining experience: </p>
<blockquote dir="ltr">
<p><em>Typically, these organizations don&#8217;t have huge budgets, so the  extra help is welcome. Nonprofits are great learning environments,  because you must stay focused and maximize your budget. </em></p>
</blockquote>
<p>Doug also suggests looking at certificate programs offered by many  universities. It&#8217;s an opportunity to get exposed to different  disciplines within marketing while giving you a chance to network, and  they provide credentials. It&#8217;s not an MBA, but in many ways gives you  much more real-world experience than an MBA in a field other than  marketing can. </p>
<p>A reader offers a simple road map to finding the right job: </p>
<ol dir="ltr">
<ol>
<li><em>Know your skill sets.
<p>    </em></li>
<li><em>Identify how those skills can solve a problem for a potential employer.
<p>    </em></li>
<li><em>Find out what other skills you need to get by doing informational interviews with professionals in your desired industry.
<p>    </em></li>
<li><em>Acquire such skills through work or volunteering.
<p>    </em></li>
<li><em>Continue your education through academics and the work world. </em></li>
</ol>
</ol>
<p>The same reader shares the experience of changing careers from biology to marketing: </p>
<blockquote dir="ltr">
<p><em>Nine years after college, I made a career change into marketing.  My degree was in biology, which I find incredibly useful. I think  logically and can perform analytical functions required in different  marketing roles, whether direct marketing, marketing management, or  product management. My start came from a smaller company that saw I was  smart enough to pick up on the material quickly (direct marketing) and  could adapt by using a variety of skills. I&#8217;m creative, so I can write  copy. I&#8217;m analytical, so I can crunch numbers and understand how they  relate. I have critical thinking skills, so I can see how the big  picture—or bottom line is impacted from what I do. </em></p>
<p><em>And because of my scientific background, my current employer  asked me to put together business requirements for a marketing database  we were building in-house. Although I&#8217;d never done that before, I went  about it logically and methodically, used my direct marketing  experience and came up with something I thought was viable. I was  pleasantly surprised with the positive feedback I received from our IT  department when they told me they&#8217;d never received such an easy/clear  plan to work with—even from people who have done it for years. From my  point of view, education teaches a person knowledge, yes, but it also  teaches a person how to process information and think in particular  ways. </em></p>
</blockquote>
<p>The reader advises paying attention to the company size and  industry. For example, a Fortune 500 food and beverage company will  likely want an MBA with 5-10 years of experience for an entry-level  job; a small to midsize company in the publishing industry might be  more flexible. </p>
<p>Take advantage of your school&#8217;s resources and networking  opportunities. Does your school have a career center? Take advantage of  it. Think networking in everything you do, as it can happen anytime,  anywhere. Even in a doctor&#8217;s office, where one reader started talking  to another patient and ended up mailing a resume to her. Save work  products to use as samples when going on job interviews. Good luck! </p>
<p><strong>Why not network through this column?</strong></p>
<p>Did you know you could use this column as an opportunity to network  with other readers? Did a reader&#8217;s response click with you? Search for  the person&#8217;s company and you&#8217;re halfway there to finding out how to  reach the person. If you enjoyed another in MarketingProfs or event our  article, drop us a line. You never know what may happen. </p>
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<h3>MBA Notes</h3>
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		<title>TransPromo Is Born</title>
		<link>http://www.mba-outline.com/transpromo-is-born/</link>
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		<pubDate>Wed, 18 Jun 2008 15:20:21 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Brand]]></category>

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		<category><![CDATA[mba notes]]></category>

		<category><![CDATA[TransPromo]]></category>
<category>Cheap MBA</category>
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		<description><![CDATA[
Cheap MBA
What&#8217;s this new buzzword &#8220;TransPromo&#8221; all about? The term is heard  more and more frequently in industry circles today, at conferences,  tradeshows—even in boardrooms.
So just what is TransPromo?
In plain English, it is the effective combination of regular bills  and statements and targeted marketing material using techniques like  color, segmentation, and [...]]]></description>
			<content:encoded><![CDATA[<p><!--adsense--><br />
Cheap MBA<br />
What&#8217;s this new buzzword &#8220;TransPromo&#8221; all about? The term is heard  more and more frequently in industry circles today, at conferences,  tradeshows—even in boardrooms.</p>
<p>So just what is TransPromo?</p>
<p>In plain English, it is the effective combination of regular bills  and statements and targeted marketing material using techniques like  color, segmentation, and personalization.</p>
<p>ROI is the key driver for the success of TransPromo. Organizations  face increased budgetary constraints, staffing issues, and both  boardroom and investor demands for favorable quarterly returns.  Business is focused on cost more than ever before, both on containment  and measurement.</p>
<p>Leading-edge enterprises have been successfully, and quietly,  achieving significant ROI on marketing spend using multiple tactics,  including the elimination of additional inserts from statement  envelopes, replacing them with a more sustainable option: onserts.</p>
<p><!--adsense--></p>
<p>An onsert is the placement of colorful, targeted promotional  materials, such as an offer-of-the-month, on the white space directly  on a statement, meaning extra inserts are no longer required.</p>
<p>In some cases, onserts can reduce other production costs, serving as  a revenue generator. Suppose you are a hotel chain or a retail  department store, and you have extra white space available on your  statement. Why not utilize that space by selling a non-competitive  offer such as an Amazon book offer, rental car discount coupon, or  florist 1-800 offer? The income generated could likely offset 10-25  percent of the mailing you were going to produce and fund anyway.</p>
<p>Zoomerang recently conducted a survey of 1,000 18-35-year-olds for  InfoPrint Solutions Company, to better understand how they believe  marketers are speaking to them. Some 64 percent of respondents said  they would use personalized coupons if printed directly onto monthly  statements and bills, with nearly half responding these would actually  encourage brand loyalty.</p>
<p>Innovative marketing organizations are tying in customer data they  already have—like transactional information, types of purchases, size,  frequency, or payment history—and intelligently using these to  cross-sell the next logical product, through a true one-to-one  marketing initiative.</p>
<p><!--adsense--><br />
Cheap MBA<br />
Take another example: A retailer&#8217;s file indicates that &#8220;Bert&#8221;  purchases snowboard accessories both online and via store locations.  The marketing possibilities seem endless&#8230;</p>
<p>Why not offer &#8220;Bert,&#8221; via his next regular monthly statement, a 20  percent discount coupon for his next winter apparel purchase, printed  on his bill? Or, offer a 10-20 percent discount on lodging or a rental  car at a mountain resort, meaning your third-party lodging or rental  partner pays you? Then, start thinking about adding seasonality to this  mix.</p>
<p>To prompt this cycle, marketers should set up a marketing campaign  calendar to send a customized message to &#8220;Bert&#8221; during the  October/November billing cycles to activate purchases, perhaps with a  money-off coupon attached.</p>
<p>That is only one example of using the data available on a customer to up-sell and cross-sell additional services.</p>
<p>Other key applications include retention of current clients. All  savvy marketing executives know exactly what their acquisition cost is  per head, with many allowing for this when budgeting. But how many  truly measure the cost of a lost customer?</p>
<p>Why not effectively use an existing communication vehicle—the  monthly statement—to thank audiences for ongoing loyalty? Customers are  people and like to be complimented occasionally. Just an impromptu  &#8220;thanks for doing business with us&#8221; can have measurable improvements in  customer retention rates. And why not print a coupon awarding money off  their next purchase directly on that same billing statement?</p>
<p>This is not rocket science, but it does require a level of sophistication and expertise to help organizations <em>understand</em> their existing customer better. Through careful evaluation of data they  already have, marketers can easily craft appropriate offers driven both  by individual consumers&#8217; purchasing habits and by the available  attitudinal and behavioral characteristics. It is then critical to  build back-end analytical components to measure the results  effectively.</p>
<p>These improvements will mean marketing is accountable and  measurable, and the ROI will truly be a win/win both for the marketer  and the enterprise.</p>
<p>Final thought: Select marketing partners/vendors that can assist you  in the entire process—from initial data analytics to producing the  targeted output. Print and production capability is critical, but no  less important is the direct response marketing expertise to help you  identify, analyze, plan, implement, and report-on your efforts.</p>
<p>Crafting all these components into a cohesive effort is critical to your success.</p>
<p><a href="http://www.mba-outline.com"><strong>MBA Notes</strong></a></p>
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		<title>The Myth of Differentiation</title>
		<link>http://www.mba-outline.com/the-myth-of-differentiation/</link>
		<comments>http://www.mba-outline.com/the-myth-of-differentiation/#comments</comments>
		<pubDate>Wed, 18 Jun 2008 06:48:09 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Uncategorized]]></category>

		<category><![CDATA[Differentiation]]></category>

		<guid isPermaLink="false">http://www.mba-outline.com/?p=6</guid>
		<description><![CDATA[
Few would question this simple truth: Businesses must differentiate.  Growth, profit—survival, even—hinge on their ability to set themselves  apart from competition. 
Professors Terrell and Middlebrooks of the Northwestern University&#8217;s  Kellogg School of Management and University of Chicago Graduate School  of Business, respectively, say it well: 
Service companies need to dare to [...]]]></description>
			<content:encoded><![CDATA[<p><!--adsense--></p>
<p>Few would question this simple truth: Businesses must differentiate.  Growth, profit—survival, even—hinge on their ability to set themselves  apart from competition. </p>
<p>Professors Terrell and Middlebrooks of the Northwestern University&#8217;s  Kellogg School of Management and University of Chicago Graduate School  of Business, respectively, say it well: </p>
<p>Service companies need to dare to be different. To find a leadership  position in the market&#8230;and then to lead. The key strategy is to be  different from competitors&#8230;. They break free from &#8220;be better,&#8221;  internally oriented initiatives to &#8220;be different,&#8221; externally oriented  strategies. Being different is grounded in providing customers with  unique value that they cannot get from any other competitor.1 </p>
<p><!--adsense--></p>
<p>They go on to cite McKinsey as their first example. </p>
<p>The &#8220;need&#8221; for differentiation is so well accepted, it&#8217;s considered  simplistic to even make the case for differentiation. Why make a case  for something everyone already knows? </p>
<p>Much of the differentiation conversation therefore centers more on  how to do it and how strongly to do it. (Terrell and Middlebrooks go as  far as to say you should position yourself so far opposite competitors  that they coin the nifty term &#8220;oppositioning&#8221; to describe it.) </p>
<p>That we need to be differentiated at all&#8230; accepted without further thought. </p>
<p>I disagree. Put some further thought in it. Most everything I&#8217;ve  read and heard about differentiation is wrong. I suspect the same is  true for you. </p>
<p><strong>On Unique Selling Propositions</strong> </p>
<p>Among the favorite platitudes of the high priests of business is  that every business—nay, every person—must have a unique selling  proposition (USP). A USP can be defined as doing or saying something  about yourself or company that is unlike what anyone else does or  offers. In other words, unique&#8230; one of a kind. </p>
<p>I deliver about 40 speeches and presentations per year. During  presentations I frequently ask the members of the audience to take a  few minutes to deliver their elevator pitches—the minute or so  discussion they would use to describe themselves to the CEO of a  company they would like to win as a client. </p>
<p>When they&#8217;re done, I ask folks to raise their hands if their partner  delivered a fabulous elevator pitch. Many hands go up. When I ask what  was so great about them, I typically hear things like this: They were  clear about what they do, what difference they make for their clients,  and which industries they serve. Often I hear of stories told that  brought their companies to life. </p>
<p>I then ask who has heard of the concept of a USP, and who has been  told at least once in their business lives that they need to have one.  Most hands go up. I then ask whose elevator pitch partner said  something unique. Usually no hands go up, but here and there a bold  person or two jump into the fray. </p>
<p><!--adsense--></p>
<p>In the end, good as their elevator pitch partner&#8217;s delivery might  have been, most people back off their stance that their partner was  unique. </p>
<p><strong>The &#8220;Unique and Different&#8221; Label</strong> </p>
<p>Too often in elevator pitches, and in marketing messages in general,  professional services firms ill-advisedly label themselves as unique  and different. A quick Google search for &#8220;unique consulting firm&#8221; (with  the quotes, so it would get results that only had these words in a  string), yielded close to 4,000 sites. Here&#8217;s one from the first page: </p>
<p><em>[Firm Name] is a rather unique consulting firm&#8230;. Our target  audience is composed of those firms that seek quality rather than  quantity and price. Our company specializes on small and mid size  businesses, but we are looking for clients that are less worried about  prices, than exclusive services and results that they will receive.  Thus, a price conscious client is not really suited for our firm; our  services are of high quality and slightly higher priced, but the  customer service and end results are virtually almost exceeding the  client&#8217;s expectation. </em></p>
<p>[Author's note: I tried to find more professional-sounding copy that  included the term "unique consulting firm," but they were all pretty  much like this. Can't make this stuff up, folks.]</p>
<p>Once a firm labels itself as unique, it elicits this question from  the reader: Is it really unique (or, as in the case of the firm above,  &#8220;rather unique&#8221;) while, at the same time, &#8220;virtually almost exceeding  the client&#8217;s expectation?&#8221; Ugh. </p>
<p>Should the answer be no, and by and large it is, the firm loses  credibility. More than anything, its sounds as if they&#8217;ve read in some  marketing textbook that they have to have a USP or differentiated  message, thus they use words to that effect. </p>
<p>Many admit later just how amateurish they sound, and sometimes  acknowledge that they thought it sounded amateurish before they  launched their unique-speak publicly. Firm leaders tend to have good  common-sense radar, but they seem to check common sense at the door  when it comes to self-designated uniqueness. </p>
<p>Some firms seem to take the quest for differentiation literally,  creating a spate of &#8220;we&#8217;re different&#8221; messages. Consider a top Boston  law firm with the following message: </p>
<p><em>At [FIRM Name], we practice law differently. While our attorneys  agree that results drive our business, building relationships with our  clients and providing value-added service is the key to our success.</em> </p>
<p>This firm might be amazingly good—and, from what I know of their  reputation, they are. However, results&#8217; driving business, building  relationships, and providing value-add are pretty par for the  course—both as firm goals and marketing copy. </p>
<p><strong>What Clients Really Want</strong> </p>
<p>Much as firms might hear otherwise, being different isn&#8217;t much of a  factor in winning or keeping clients. Often, the &#8220;we&#8217;re different&#8221;  message affects them negatively. Consider the following scenario: Your  tooth hurts and your dentist is out of town. You need an oral surgeon  and you need one fast, so you ask a few trusted close friends, Trip and  Beverly, if they know anyone. </p>
<p><em>Referral #1: Close friend Trip suggest Dr. Phlox. </em></p>
<p>He says that his aunt Deanna needed oral surgery and went to Dr.  Phlox, who has been in the town next door for 20 years and has a very  busy oral surgery practice. Word on the street is that he&#8217;s pretty  solid. When aunt Deanna went in, the doctor took the time to explain  the surgery and what was going to happen, and to answer all the  questions that Deanna had. </p>
<p>The surgery went fine (for all they knew) and Deanna hasn&#8217;t had any  problems since. He&#8217;s a little more expensive than average, but Deanna  says he&#8217;s very booked and established so it&#8217;s understandable. </p>
<p><em>Referral #2: Close friend Beverly suggests Dr. McCoy</em>. </p>
<p>Supposedly McCoy is well known throughout the nation as a  cutting-edge oral surgeon, often going where no other oral surgeon has  gone before. He has a unique blend of people at his office, process for  oral surgery, and tooth technology that he has pioneered. His results,  says his brochure and Web site, are 22% better than all other oral  surgeons&#8217;, which is how he justifies his very high prices. </p>
<p>His uncle Pavel went to McCoy and all went well with the surgery  (for all he knew), though uncle Pavel met McCoy only for about 30  seconds, as he was so busy. </p>
<p>At a gut level, even with uncle Pavel&#8217;s satisfaction, few people  would choose referral #2. This is because many of the dynamics of how  clients buy business-to-business professional services is similar to  how people choose dentists: </p>
<ul>
<li>Should failure happen, the consequences are painful. </li>
<li>You don&#8217;t need the world&#8217;s greatest outcome. You just need a very good outcome. </li>
<li>Since you can&#8217;t sample a service like you might sample a piece  of gum, you have to rely on reputation, experience, and expertise as  proxies for expected results. </li>
<li>Price is a factor, but you&#8217;d rather not skimp when the  outcome is important. (Side note: if I told you that Dr. McCoy&#8217;s  innovations have enabled him to charge less than half of what other  oral surgeons charge, would you have been more interested in buying his  services, or less?) </li>
</ul>
<p>Innovation in the sense that the doctor does something different  from others, or is somehow unique, by and large won&#8217;t tip the scales of  purchase preference in the favor of the innovator. </p>
<p>So what is it that clients are, indeed, looking for? In my experience, and according to research such as <em>How Clients Buy,</em> most buyers want to tell service providers the following: </p>
<ul>
<li><em>Reliability.</em> Do what you say you are going to do, and be  on time about it. (This is listed first, because it&#8217;s so important. If  only the service providers I&#8217;ve worked with in my life were better at  keeping their commitments&#8230;) </li>
<li><em>Accessibility.</em> Be there when I need you. </li>
<li><em>Impact.</em> Help me buy the most helpful and impactful  services from you, and help me translate your services into success for  my business in my industry. </li>
<li><em>Fit.</em> Be a good fit for the specific needs that I  have. If you&#8217;re not the best fit, help me find a provider that is.  Don&#8217;t shoehorn your service into something that, in the end, won&#8217;t meet  my needs as well as something else would. </li>
<li><em>Importance.</em> Make me feel like we are, as a client, important to you and your team. </li>
<li><em>Service.</em> Deliver great service as well as great services. </li>
<li><em>Prudence.</em> Be careful and do your homework before you suggest a course of action for me. </li>
<li><em>Research.</em> Stay on top of the developments and trends in your industry and in mine. </li>
<li><em>Listening.</em> Understand my business, my team, and my clients so you can come up with ideas relevant to me. </li>
<li><em>Teaching.</em> Help me understand what you&#8217;re doing. I  might not be an expert in your area, but I&#8217;m pretty bright and I make  the decisions here. Help me understand what&#8217;s new in your area of  expertise so I can apply that knowledge in my business. </li>
<li><em>Business management.</em> Run an efficient operation and constantly improve so I don&#8217;t pay for your inefficiency. </li>
<li><em>Relationship management.</em> Be pleasant and fair, and  work with me through communication or other breakdowns on your end or  mine. In essence, treat me like a person. </li>
</ul>
<p>Different situations warrant different mixes and degrees of the  above. For example, with many necessary-type services like  Sarbanes-Oxley compliance, efficiency is important as well as  expertise. On the other hand, buyers looking to hire product-innovation  consultants will likely be concerned less about efficiency and more  about the creativity and innovative thinking of your team. </p>
<p>Regardless of the mix of what&#8217;s most important to your buyers, you  probably won&#8217;t see many of them inserting this into the list of client  wants: &#8220;Different and Unique: Be one of a kind, offering something that  no one else in the market offers.&#8221; </p>
<p>So be different: Stop listening to the continuous pleas from  consultants, marketers, and textbooks to be different&#8230; one of a  kind.. .a shining beacon of newness in a sea of same-old same-old. </p>
<p>Focus instead on actually delivering the value to the market that  you say you deliver (which, in and of itself, can be uncommon if not  unique), and find ways to create a conversation with buyers around that  message. </p>
<p>Not only is it better marketing, it&#8217;s less lonely than being unique. </p>
<p><strong>Endnote:</strong> </p>
<p>1 Terrell and Middlebrooks, <em>Market Leadership Strategies for Service Companies.</em> 2000 McGraw Hill. P. 31. </p>
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		<title>Email Marketing: Top 10 Language Pitfalls and Top 10 Power Words</title>
		<link>http://www.mba-outline.com/email-marketing-top-10-language-pitfalls-and-top-10-power-words/</link>
		<comments>http://www.mba-outline.com/email-marketing-top-10-language-pitfalls-and-top-10-power-words/#comments</comments>
		<pubDate>Tue, 17 Jun 2008 05:15:52 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Uncategorized]]></category>

		<category><![CDATA[Email Marketing]]></category>

		<category><![CDATA[mba notes]]></category>

		<guid isPermaLink="false">http://www.mba-outline.com/?p=4</guid>
		<description><![CDATA[
You already know that certain words are automatic spam-filter traps  in email marketing, but if you&#8217;re reading this you probably aren&#8217;t  using any of the worst offenders, such as obscenities or pornographic  lingo. 
Nonetheless, your email marketing messages can benefit from a  thorough edit to ensure both the avoidance of anti-spam [...]]]></description>
			<content:encoded><![CDATA[<p><!--adsense--></p>
<p>You already know that certain words are automatic spam-filter traps  in email marketing, but if you&#8217;re reading this you probably aren&#8217;t  using any of the worst offenders, such as obscenities or pornographic  lingo. </p>
<p>Nonetheless, your email marketing messages can benefit from a  thorough edit to ensure both the avoidance of anti-spam filters and,  even more importantly, the inclusion of the most powerful words in  direct response. </p>
<p>First, though, examine how you and your colleagues speak about email  marketing and describe it as a practice to those outside your world. </p>
<p><!--adsense--></p>
<p>For example, how often have you heard (or even said) an email  &#8220;blast&#8221; was being sent? I don&#8217;t know about you, but to me &#8220;blast&#8221;  doesn&#8217;t have a positive connotation. I don&#8217;t wish to be &#8220;blasted&#8221; with  anything (well, maybe $1,000 bills would be OK), including email  &#8220;blasted&#8221; to my inbox, and I&#8217;d venture to guess that your customers and  list members feel the same. </p>
<p>When we as practitioners of email marketing become more aware of how  the words we use to describe our craft are perceived in the outside  world, we can see &#8220;blast&#8221; is a dirty word. Instead, you might say  &#8220;broadcast,&#8221; &#8220;announcement,&#8221; &#8220;send,&#8221; or &#8220;campaign&#8221; after the word email  to describe your message deployment. But, please, no more blasting. </p>
<p>Furthermore, despite the Email Experience Council&#8217;s efforts, we  still don&#8217;t have unilateral agreement on how to spell the word  &#8220;e-mail.&#8221; The official AP style guide, dictionaries, and journalists  continue to insist on the hyphen between &#8220;e&#8221; and &#8220;mail.&#8221; Most everyone  else has already dropped it. Chances are, the word will follow the  previous evolutionary pattern of &#8220;on-line,&#8221; &#8220;jell-o,&#8221; and &#8220;e-commerce.&#8221; </p>
<p>Those and other factors aside (such as no agreed-upon definition of  spam), the words used within your email messages can make or break your  campaigns.</p>
<p>Adhere to these Letterman Show-style Top Ten Lists—the first for  language pitfalls and the second for power words—to ensure successful  delivery, avoid complaints, and improve response: </p>
<h3><strong>Top Ten Language Pitfalls in Email Marketing Messages</strong> </h3>
<p><em>10. Typos and misspellings due to poor editing</em> </p>
<p>There really is no excuse. </p>
<p><!--adsense--></p>
<p><em>9. Subject lines in ALL CAPS</em> </p>
<p>Writing in all capital letters online is the equivalent of shouting.  You would never scream at your customers or prospects in person, so  don&#8217;t do so virtually, either. If you must, capitalize a single power  word within your subject line and leave it at that. </p>
<p><em>8. Use of punctuation marks and numbers within the subject line</em> </p>
<p>If absolutely necessary, use only functional punctuation such as a  hyphen or colon. Do not put phone numbers in your subject line—ever! </p>
<p><em>7. ALL CAPS within the message body</em> </p>
<p>Remember, no need to shout. Use other creative means such as color,  different font, or buttons/banners/backgrounds for emphasis if there is  an explanation, offer, or condition not to be missed. </p>
<p><em>6. Excessive or unnecessary Power Word repetition; especially of power word #1</em></p>
<p>See below. </p>
<p><em>5. Copy written in passive rather than active voice </em></p>
<p>We need to get to the point quickly in email. Front-load sentences and paragraphs with action verbs and eye-catching benefits. </p>
<p><em>4. False or inflated sense of urgency</em> </p>
<p>The very nature of email implies expediency, immediacy. Pushing  recipients to respond by intentionally creating an environment of panic  or scarcity usually doesn&#8217;t provide an incremental lift in response. In  fact, it can be a real turn off. Your audience is already in a mindset  to quickly access and process email messages. Nudge, don&#8217;t shove.  Subtly mention deadlines or expiration dates when necessary or legally  required, and if in doubt, test. </p>
<p><em>3. Vague calls-to-action</em> </p>
<p>&#8220;Click here&#8221; or &#8220;visit our Web site&#8221; are too general; they don&#8217;t  reinforce the subject of your message or your offer. Nor do they  instill confidence in where a responder will land. Be specific, such as  &#8220;download your free white paper&#8221; or &#8220;see the movie preview&#8221; instead. </p>
<p><em>2. Exaggerated Modifiers</em> </p>
<p>Like &#8220;Amazing,&#8221; &#8220;Revolutionary,&#8221; &#8220;Great,&#8221; &#8220;All New,&#8221; (when just  &#8220;new&#8221; would suffice) and even &#8220;Special&#8221; and &#8220;Important,&#8221; especially  when used in the subject line, can land your email in the junk folder.  Hype is a hallmark of spam and is unnecessary when your messages are  targeted and relevant. Assuming they are (targeted and relevant), they  will already be perceived as important, special, or great. Why state  the obvious? </p>
<p>And the number-one pitfall: </p>
<p><em>1. Including the word &#8220;spam&#8221; in your message (such as &#8220;this is not spam&#8221;) </em></p>
<p>The very existence of written justification that your email is  ethical calls its legitimacy into question. I can&#8217;t think of a more  self-defeating proposition than stating your message is NOT what you  fear it will be. </p>
<p>Now for the good news.</p>
<h3><strong>Top Ten Power Words</strong> </h3>
<p>Here are the top ten power words for your email advertising and communications: </p>
<p><em>10. New</em> </p>
<p>Appeals to our basic human curiosity to seek novelty. </p>
<p><em>9. Save</em> </p>
<p>We all love a bargain. </p>
<p><em>8. Safety</em> </p>
<p>Connotes reliability; appeals to basic human needs. </p>
<p><em>7. Proven</em> </p>
<p>Justifies your claim, removes fear of the unknown. </p>
<p><em>6. Love</em> </p>
<p>An all-time favorite. </p>
<p><em>5. Guarantee</em> </p>
<p>If you have one, state it. It iron-clads your offer. </p>
<p><em>4. Immediate (Now, or Instant)</em> </p>
<p>Instant gratification is the expectation online. If it can&#8217;t be  found, completed, or received almost immediately, you&#8217;re offer is in  the wrong channel. </p>
<p><em>3. Results</em> </p>
<p>Provides rationalization for instant conversion. </p>
<p><em>2. You</em> </p>
<p>Remember WIIFM? Your audience wants to hear about what&#8217;s in it for  them, not you. Articulate your benefits in personal, conversational  terms. </p>
<p>And the number one Power Word: </p>
<p><em>1. Free</em> </p>
<p>Surprised? Probably not. Because this is the time-honored, most  potent motivator in direct response, be particularly vigilant of  overuse. Just a dash&#8217;ll do. Strive to optimize placement, and test if  necessary. </p>
<p><a href="http://www.mba-outline.com"><strong>MBA Notes</strong></a></p>
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		<title>Brand New Thinking: Put It in Cultural Context</title>
		<link>http://www.mba-outline.com/brand-new-thinking-put-it-in-cultural-context/</link>
		<comments>http://www.mba-outline.com/brand-new-thinking-put-it-in-cultural-context/#comments</comments>
		<pubDate>Tue, 17 Jun 2008 05:11:40 +0000</pubDate>
		<dc:creator>admin</dc:creator>
		
		<category><![CDATA[Brand]]></category>

		<category><![CDATA[NASCAR]]></category>

		<category><![CDATA[New Brand]]></category>

		<guid isPermaLink="false">http://www.mba-outline.com/?p=3</guid>
		<description><![CDATA[
As marketing managers seek to keep their brands fresh and relevant,  many are tempted to jump on the latest trends and fads. You know:  online and major media advertising with new imagery&#8230; new slogans and  taglines&#8230; new product packaging—all playing to the latest pop-cult  phenomena, hot colors, and new vibes. 
But [...]]]></description>
			<content:encoded><![CDATA[<p><!--adsense--></p>
<p>As marketing managers seek to keep their brands fresh and relevant,  many are tempted to jump on the latest trends and fads. You know:  online and major media advertising with new imagery&#8230; new slogans and  taglines&#8230; new product packaging—all playing to the latest pop-cult  phenomena, hot colors, and new vibes. </p>
<p>But is that really the solution? The short answer is &#8220;no.&#8221; </p>
<p>If anything, jumping on the latest trends will have the opposite  effect. Brands cannot and should not be all things to all people. Nor  should they be diluted by constantly going after whatever is trendy at  the expense of consistently reinforcing their core values and assets. </p>
<p>If brands are less relevant than they should be, then their core  values, and the way they are aligned and projected—or not—should be  examined and addressed. </p>
<p>Consumers respond to values they identify with more than they do  passing trends. Especially if those values are culturally ingrained and  have deep personal meaning for them as human beings. </p>
<p>Brands should have the ring of authenticity and conviction. They should possess and express the following: </p>
<p><!--adsense--></p>
<ul>
<li>A reason for being </li>
<li>A definitive point of view </li>
<li>A system of beliefs </li>
<li>Clearly defined values and assets </li>
</ul>
<p>The unearthing of a brand&#8217;s core values and truths must then be  consistently acted upon in everything that companies communicate and in  every decision that is made. There has to be complete alignment at  every touch point so that the brand is consistently and faithfully  portrayed to employees, business partners, stakeholders, and customers. </p>
<p>Cultural anthropology can play an important role in developing  consumer connections by taking marketing to a more meaningful, more  human level. Tying core brand essences to deeply held cultural meaning  gives consumers &#8220;reason to believe&#8221; in them. By being firmly grounded  in cultural values that really matter to the customer, brands can  transcend competitors to become not only category leaders, but icons. </p>
<p>These kinds of brands become a way for consumers to affirm who they  are and what their lifestyles are—and allow them to project their  identity to the world. </p>
<p>In their book <em>Symbolic Brands and Authenticity of Identity Performance,</em> British marketing professors Richard Elliott and Andrea Davies* state:  &#8220;In a consumer culture people no longer consume for merely functional  satisfaction, but consumption becomes meaning-based, and brands are  often used as symbolic resources for the construction and maintenance  of identity.&#8221; </p>
<p>It is still true that consumers choose products based on price,  quality, and cachet. Yet to a considerable degree brands with deeply  significant cultural meaning override these aspects of marketing. For  example, Apple, the brand, has an iconic presence among  consumer-product brands and a cult-like following. So do brands like  Harley Davidson, Coca Cola, Nike, Starbucks, The NFL, NASCAR and Whole  Foods. </p>
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<p>None of these brands appeals to everyone, but among the consumers  they do appeal to they enjoy a devoted, and even fanatical, following.  We can also point out that whether consumers are devotees of these  brands or not, very few consumers the world over do not recognize their  brand marks or fail to understand the essence of these brands&#8217; core  values. </p>
<p>The evangelism inspired by these brands has everything to do with  their meaning and an integrated lifestyle fit among their devotees.  When these brands are marketed, and their products and services  packaged, their core values are leveraged in a consistent, targeted  manner that does not respond to every trend or fad. Otherwise, a  dilution would occur with the very audience for whom they are viable  and relevant. </p>
<p><strong>Brand Evolution</strong></p>
<p>Since consumer culture continues to change and evolve, brands must  change with it, but without losing their essences in the process.  Companies no longer operate autonomously behind impenetrable walls. So  why do some continue to market in that manner? </p>
<p>Brand marketers have to realize that they no longer have absolute  control over their brands through carefully crafted external images.  Consumers have wrested a sizeable share of control away from them. </p>
<p>Everything about companies and their brands is transparent now.  Consumers play an active role in the shaping of brands, thanks to&#8230; </p>
<ul>
<li>The Internet </li>
<li>Social media </li>
<li>YouTube </li>
<li>A significant increase in WOM (word-of-mouth). </li>
</ul>
<p>The culture of those consumers, who are active participants in the  Apple brand, for example, or the Harley Davidson or NFL brands, and the  way they attribute specific meanings to those brands, help determine  their evolution. These brands, over time, have increasingly come out of  the hands of the marketers and become shaped by their adherents. </p>
<p>Smart marketers actively engage their customer bases, seeking their  input on company-sponsored blogs, even asking for submissions of ideas.  They plug into the free-flowing conversations among consumers to learn  more from their adherents. They pay attention to what WOM is conveying  about their brands. </p>
<p>Brand marketers are increasingly hiring cultural anthropologists to  conduct additional research. By asking consumers—or, better yet,  watching how consumers use the products to gauge—what they like, what  they don&#8217;t like, what they would like to see integrated into product  designs as well as what they say, anthropologists gain great insights  into the current culture around the brand. </p>
<p><em>These insights should be valued, and they should enable marketers  to see the souls of their brands mirrored in their customers&#8217; comments.</em> </p>
<p>Anthropologists delve into&#8230; </p>
<ul>
<li>The deeper meanings that consumers ascribe to brands </li>
<li>The changing way they are integrated into consumers&#8217; lifestyles </li>
<li>Consumers&#8217; emotional attachments to specific brand assets and drivers </li>
<li>The evolution of consumer base culture </li>
</ul>
<p>Thus, as the culture of customer bases subtly changes, brands can  evolve with those changes in a subtle, rather than overriding manner.  Jumping on superficial, passing trends would only muddy the brand to  its adherents and cause disconnects. By making changes that are  responsive to the ways customers&#8217; view of the brand and how they want  to use it, however, the brand remains viable, relevant, and meaningful  to its adherents. </p>
<p>The idea of letting consumers internalize the brands they identify  with in a deeply, more personal way, and dictating gradual changes is  orchestrating brand new thinking. Result: the consumer is more in tune  with culturally significant brands more than ever. </p>
<p>And when it comes to brands, ongoing cultural relevance trumps the latest fads and trends hands down. </p>
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