Exercises
(1) Consider a restaurant in Sturt Street Ballarat. On the discussion page write down all the offline marketing activities you can think of and then start a separate list and write down all the online activities you can think of.
Offline Marketing Activities
Brochures - mass distribution of menu and information about resturant, Advertisements - newspaper, magazine, tv and radio, Signs / posters in shops, Word of mouth, Promotions /discounts such as two for the price of one, or specials days where the meals are cheeper, Special offers on the back of shopping dockets, like at coles and safeways, Yellow/white page advertisments, Raffles that promote the resurant by having a meal voucher as the winning prize
Online Marketing Activities
E-mail that contain specail offers and vouchers, Web-sites that are easy to navigate, Discount coupons on web-site, Addvertisements on other websites, Online clubs on website where you can get discounts if you join, Use of social networking sites such as facebook and myspace
What if any were the differences in the lists?
There was not really much difference, both ways of marketing are similar, they both just provide another means of getting the word out there about the shop.
Now on your personal blog page answer the following -
(2) Consider two other products/services of your choice. Write down all the offline/online marketing possibilities you can think of.
Pro-Active Solutions
Offline
TV, word of mouth, advertisements in newspapers/magazines, free samples, money back quarantee, competitive prices, celebrity endorsements,
Online
Web-site, advertisements on other websites, emails to current customers with special promotions, photos of before using the product and after using it, customer and celebrity opinions of the product, social networking websites such as myspace and facebook
Day Spa - Offline = Vouchers in brochures, word of mouth, advertisements on tv, radio, magazines, newspapers, back of shopping dockets, mail drops of brochures, flyers at information centres in the location of the day spa, deals and specials for return visits, mentioning adds to get a discount
Online = Well laid out website, metioning the website when booking to get a discount, emails - referals from friends who have been there and put you on the email list, advertisements on different websites, youtube, myspace, facebook, other social networking websites
(3) What makes a great online product from a marketers point of view? How would you measure success?
A great online product from a marketers point of view is one that sells itself, popularity and word of mouth play a huge roll in the success of an item and its marketing. I would measure success by how popular the item is, if the marketing of the product is good, then the product would be expected to have made good sales. Having celebrities endorse a product is a huge marketing advantage. Celebrities are endorsing eveything from underware to perfume, and this method of advertisement has led to huge sales in the products they advertise.
Having the rite level of marketing mix is crucial, particulary for the audience you wish to have your product aimed at.
(4) Preview the pricing of two products and consider some dynamic pricing models. "There is a trend in pricing that promises to significantly change the way goods are marketed and sold. Sellers now offer special deals, tailored for individual customers, and are beginning to compute the right price to the right customer at the right time... Buyers are nowable to quickly and easily compare products and prices, putting them in a better bargaining position. At the same time, the technology is allowing sellers to collect detailed data about customers’ buying habits, preferences, even spending limits, so they can customize their products and prices." (http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf)
Two examples of dynamic pricing are: Airline Tickets "The method here is to dynamically modulate prices over time by adjusting the number of seats available in each pre-defined fare class. Advantage is taken of a natural segmentation in the consumers: business travellers for whom the flight dates and timings are primary and fares are secondary; casual travellers for whom prices are important and the dates/timings are flexible; and hybrids for whom both factors are at an equal level of importance." Many consumers will use the internet to look up flights from a number of airlines to get the best deal possible for their money. Dell Computers. The Dell website allows customers to customise their computer to suit their own needs, this is a good example of dynamic pricing as comsumers have the power to add what they require or to take away what they do not need. "Dell sells custom PC configurations at prices which are different for different configurations. The Dell model is the ultimate in price differentiation in the sense of being implemented in terms of product differentiation. Dell quotes different prices to different market segments for the same product, enabling the company to increase the profitability" Some dynamic pricing models used by both Dell and the Airline industry would be: Inventory-based models which are models where pricing decisions are primarily based on inventory levels and customer service levels and Data-driven models which use statistical or similar techniques for utilizing data available about customer preferences and buying patterns to compute optimal dynamic prices (http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf)
(5) What are some of the issues these (pricing) models raise?
Experimenting with prices of a product can lead to reduced loyalty from customers if fairness is not perceived, as was the case in September 200 with Amazon.com, who experimented with prices of dvds "depending on the supply and demand, the prices on a particular DVD varied over a wide range. Customers found out about this and reacted in anger at what they saw as random prices on a commodity which is plenty in supply" (http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf)
Discussion this week Rupert Murdoch (former Australian Media Magnate, now American Citizen and Global Media Baron) has now declared the free ride over. His titles – the Australian Herald Sun, Times, Sunday Times, Wall Street Journal and others – will be obtainable in some shape or form online only by subscription. Is this the end of free news on the internet? What do you think?
(1) Consider a restaurant in Sturt Street Ballarat. On the discussion page write down all the offline marketing activities you can think of and then start a separate list and write down all the online activities you can think of.
Offline Marketing Activities
Brochures - mass distribution of menu and information about resturant, Advertisements - newspaper, magazine, tv and radio, Signs / posters in shops, Word of mouth, Promotions /discounts such as two for the price of one, or specials days where the meals are cheeper, Special offers on the back of shopping dockets, like at coles and safeways, Yellow/white page advertisments, Raffles that promote the resurant by having a meal voucher as the winning prize
Online Marketing Activities
E-mail that contain specail offers and vouchers, Web-sites that are easy to navigate, Discount coupons on web-site, Addvertisements on other websites, Online clubs on website where you can get discounts if you join, Use of social networking sites such as facebook and myspace
What if any were the differences in the lists?
There was not really much difference, both ways of marketing are similar, they both just provide another means of getting the word out there about the shop.
Now on your personal blog page answer the following -
(2) Consider two other products/services of your choice. Write down all the offline/online marketing possibilities you can think of.
Pro-Active Solutions
Offline
TV, word of mouth, advertisements in newspapers/magazines, free samples, money back quarantee, competitive prices, celebrity endorsements,
Online
Web-site, advertisements on other websites, emails to current customers with special promotions, photos of before using the product and after using it, customer and celebrity opinions of the product, social networking websites such as myspace and facebook
Day Spa - Offline = Vouchers in brochures, word of mouth, advertisements on tv, radio, magazines, newspapers, back of shopping dockets, mail drops of brochures, flyers at information centres in the location of the day spa, deals and specials for return visits, mentioning adds to get a discount
Online = Well laid out website, metioning the website when booking to get a discount, emails - referals from friends who have been there and put you on the email list, advertisements on different websites, youtube, myspace, facebook, other social networking websites
(3) What makes a great online product from a marketers point of view? How would you measure success?
A great online product from a marketers point of view is one that sells itself, popularity and word of mouth play a huge roll in the success of an item and its marketing. I would measure success by how popular the item is, if the marketing of the product is good, then the product would be expected to have made good sales. Having celebrities endorse a product is a huge marketing advantage. Celebrities are endorsing eveything from underware to perfume, and this method of advertisement has led to huge sales in the products they advertise.
Having the rite level of marketing mix is crucial, particulary for the audience you wish to have your product aimed at.
(4) Preview the pricing of two products and consider some dynamic pricing models. "There is a trend in pricing that promises to significantly change the way goods are marketed and sold. Sellers now offer special deals, tailored for individual customers, and are beginning to compute the right price to the right customer at the right time... Buyers are nowable to quickly and easily compare products and prices, putting them in a better bargaining position. At the same time, the technology is allowing sellers to collect detailed data about customers’ buying habits, preferences, even spending limits, so they can customize their products and prices." (http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf)
Two examples of dynamic pricing are: Airline Tickets "The method here is to dynamically modulate prices over time by adjusting the number of seats available in each pre-defined fare class. Advantage is taken of a natural segmentation in the consumers: business travellers for whom the flight dates and timings are primary and fares are secondary; casual travellers for whom prices are important and the dates/timings are flexible; and hybrids for whom both factors are at an equal level of importance." Many consumers will use the internet to look up flights from a number of airlines to get the best deal possible for their money. Dell Computers. The Dell website allows customers to customise their computer to suit their own needs, this is a good example of dynamic pricing as comsumers have the power to add what they require or to take away what they do not need. "Dell sells custom PC configurations at prices which are different for different configurations. The Dell model is the ultimate in price differentiation in the sense of being implemented in terms of product differentiation. Dell quotes different prices to different market segments for the same product, enabling the company to increase the profitability" Some dynamic pricing models used by both Dell and the Airline industry would be: Inventory-based models which are models where pricing decisions are primarily based on inventory levels and customer service levels and Data-driven models which use statistical or similar techniques for utilizing data available about customer preferences and buying patterns to compute optimal dynamic prices (http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf)
(5) What are some of the issues these (pricing) models raise?
Experimenting with prices of a product can lead to reduced loyalty from customers if fairness is not perceived, as was the case in September 200 with Amazon.com, who experimented with prices of dvds "depending on the supply and demand, the prices on a particular DVD varied over a wide range. Customers found out about this and reacted in anger at what they saw as random prices on a commodity which is plenty in supply" (http://www.ias.ac.in/sadhana/Pdf2005AprJun/Pe1337.pdf)
Discussion this week Rupert Murdoch (former Australian Media Magnate, now American Citizen and Global Media Baron) has now declared the free ride over. His titles – the Australian Herald Sun, Times, Sunday Times, Wall Street Journal and others – will be obtainable in some shape or form online only by subscription. Is this the end of free news on the internet? What do you think?
Most likely it will be, as technology advances there will be little need for physical newspapers, it may also be argued that by not printing newspapers everyday that trees and the environment are being saved.
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