Informative on music and marketing - Speech or Presentation Example

? Cutting edge marketing Techniques It is time to say good bye and escort traditional marketing as the marketing is not merely limited tosales promotions, public relations, advertising, direct marketing etc rather Traditional Marketing is dead, today. Those organizations that still utilize old marketing strategies are operating in a “dead paradigm” (Lee, 2012). The lives of individuals are digitally cannibalized now as new technologies are making their way to the front leaving behind the old as useless or secondary with little significance. This era is regarded as techno-oriented era more commonly as digital age therefore the old marketing strategies are not going to work here anymore when there is lesser time consuming, cheap and easily accessible marketing strategies are available through social media. Internet is now hailed as ““contemporary society’s great equalizer of social, economical, and political power”, with little cost and immense communication effects (Fox, 2009). Various marketing tactics such as viral marketing are spreading consumer awareness of the product even by masking their names generating their attention and intriguing consumers before even revealing the company’s name. Reverse psychology marketing strategies also create interests and awareness among the consumers by tarnishing the brands (Fox, 2009). Buyers no longer wait for the new marketing information and they are not even paying much attention today. They are more interested in seeking out the desired information in their own ways. The flyers, brochures, TV ads, in transit media etc have become too trivial. On the other hand, asking face book about which novel marketing tactic to use is effective, in which it is mired and there is an ongoing debate for that. Zuberance, a firm, allows its customers to advocate about the company on their favorite social media channels. They are requested to write a review or recommendation about the product that is accessible to the company official website endorsed with customer’s name and spread around his peer network and he actually finds himself as a promoter of the product. Our timings of consuming meals is varying greatly due to work load, late night studies, slumber parties, networking hangouts etc. Many of the U.S restaurants are being triggered due to this changed habit of the people around. Consequently, Big M launched a new marketing tactic of luring and targeting these “up-high nights” and nocturnal diners with value deals. They extended their closing hours till 2 a.m. Furthermore, they also started offering mid night deals on Night Hunger menu with Buffalo wings from Thursday till Saturday. Almost all the restaurants are targeting the Nighters with their light night menus where serving the “Nighters” has now become a niche. Another significant marketing tactic was used by Target (Big Data) which identified the pregnant ladies before anyone. Target conducted an exclusive and extensive research on the shopping habits of the pregnant females for example when they purchase vitamins, see the couples and kids, and many more. They utilized this research and started sending the valuable coupons to those they had identified as “pregnant”. A father of a girl who had been receiving such coupons complained about these annoying coupons but later on discovered that he was unaware that her daughter was pregnant but they knew it. So it is a cliche now which says, “All stores will be doing this, and all governments will be doing this. Your doctor will do this. Your employer will do this. This is the new norm” (NPR STAFF) Another very amusing tactic is how Google tracks the flu. Google never wastes or ignores any of its searches stores every bit of the searches. Google used to scribble over the searches screening them with intent to look for those searches from the database that were either a likely predictor or related to the outbreak of flu collecting from certain various regions of America. The seasonal flu outbreaks is reported by CDC, “Centers for Disease Control and Prevention” in the U.S which roughly requires a two weeks period but Google is capable of reporting the news really fast in real time by simple relying and jotting with the search queries (NPR STAFF). Jack Wills shun the traditional marketing strategies and social media advertising as they had little cash ups rather they arranged events targeting the affluent teens as their prospects and used permission marketing tactics instead of annoying blatant TV ads, campaigns for mass marketed products. Before even opening shop, through permission they attracted many prospective and interested customers who wanted to engage with them and do business. For example, young boys and girls were paid for riding in Jack Wills’ jeeps, driving and hanging out, thus creating awareness about Jack Wills. It also sponsored and organized the right events that its crowd would be interested in. consequently, these cutting edge, ;low cost marketing tactics proved to work out long term benefits for Jack Wills and gathered 220,000 fans on face book and twitter who watched the live events and shows sponsored by Jack Wills. Thus Jack Wills attained a hi-fi status and fame by just playing with the non marketing campaigns (Wickenden, 2011). Marketing is not stagnant it continues to evolve. Old marking methods are overlapped with the newer ones and the newer ones hit to the top, complete their lifetime, provide benefits and then replenished by the newer ones. This cycle continues to repeats itself. Today, marketing is not simply a strategy it has become a norm, a trend, a fad. It is an adaptive process that continues to revitalize itself over a period of specified time. Customers are well aware of the monotonous marketing techniques. However, their intriguing nature wants them to be bombarded or exposed with marketing skills while being unaware of that like mystery shoppers etc. Today companies cannot persuade their patrons to spend money for their products rather they have to attract their attention first through AIDA principle that motivates them to action (Cebrzynski, 2008). References Lee, B. (2012, August 9). Marketing Is Dead - Bill Lee - Harvard Business Review. Retrieved from http://blogs.hbr.org/cs/2012/08/marketing_is_dead.html Cebrzynski, G. (2008, June). Nocturnal diners targeted by new marketing tactics - Tags: RESTAURANTS HOSPITALITY industry. Retrieved from http://connection.ebscohost.com/c/articles/32773001/nocturnal-diners-targeted-by-new-marketing-tactics Lee, B. (2012, August 9). Marketing Is Dead - Bill Lee - Harvard Business Review. Retrieved from http://blogs.hbr.org/cs/2012/08/marketing_is_dead.html NPR STAFF (2013, March 7). Author Interview: Kenneth Cukier, Co-Author Of 'Big Data' : NPR. Retrieved July 20, 2013, from http://www.npr.org/2013/03/07/173176488/the-big-data-revolution-how-number-crunchers-can-predict-our-lives Wickenden, T. (2011, June 9). Intermediaries should consider new marketing tactics to engage target clients, Money Marketing , p 252, 2/3 p. Retrieved from http://teach.belmont.edu:2054/ehost/pdfviewer/pdfviewer?sid=f499fab8-4335-4f34-a62c-f006fa4403da%40sessionmgr13&vid=2&hid=19 Read More