Internet Marketing

I should have written this article two years ago. But it turns out to be this is a more appropriate timing to restructure my thinking and put it into words. In information society, people are not any longer the consumers , we are all producers or contributors. In the past, there was no sufficient container nor bandwidth to keep and digest those flooding data. The situation has been changed dramatically, since data is flooding and information is never enough. We are like hungry monster seeking for food all the time. In here, more than one hundred millions of people have Facebook account, and the average log-in time is 4 hours. Tons of data are fed into the Facebook and tons of data go to Line every single day. Under such a phenomenon, you are obsolete if you are still digging for SEO or Google AdWord.

Marketing of Social Networking is the King.      

Final Week

Topic: Project Presentation

Date: Jan 12, 2010
Time: 6:30-9:30pm
Classroom: TR 510

Agenda:

6:20-6:30pm

1. Draw for priority
2. Each audience is acting as the member of management team and filling the Score Card 
3. Your score card has two purposes; one is for others presentation, and the other one is for your own score.
4. Do have your comments written. Use the back side for additional remarks.

6:30-7:20pm Session 1 

Two teams
7:30-8:20pm Session 2
Two teams
8:20-9:30pm Session 3 
Two teams


Submit your full project report and score card.

Checklist of Presentation

Again, remind you that this course is about marketing although your project propose a sound business model with innovative products. Most of the work in your project shall be related to nothing but marketing. In the coming formal presentation, your bosses or clients would be pleased to know your team is capable of promoting the new product for them, and therefore approve your plan. Sticking with this simple philosophy, you should precisely answer the following questions;

1. Who are your target customers and how big is the market segment?
2. What is your value proposition against your competitors?
3. How will you conduct the marketing activities effectively as costs concern?
4. How do you justify your budget plan and provide assurance to ROI?
5. What is your risk assessment and resolution?
6. In short, why should your boss or client approval your proposal?

I know, presenting your marketing plan in 30 minutes is very challenging. Some techniques may be in great help of delivering message in such a short time. My suggestions are;

1. Number speaks itself.
2. A picture, chart, or a graph is better understood than thousands of word. 
3. Use table to organize numbers.
4. Use logic to justify arguments.
5. Tell results rather than explaining details.

Finally,  practice makes perfect, and good luck.

Week 16

Topic: Communicating Customer Value

Date: Jan 5, 2010
Time: 6:30-9:50pm
Classroom: TR 510

Agenda

6:30-7:00pm Case Study

Whole Foods: A Whole-istic Strategy

Each team has 10 minutes to present your findings and answers

7:00-9:00pm Lecture

Communicating Customer Value-Integrated Marketing Communication Strategy

9:00-10:00pm Project Presentation (Dry-Run)

Team 5-Quadcycle

Team 6-Cosmetics

Check-list for presentation

• Feasibility of objectives
• Core value proposition outlined from situation analysis
• Keys to success in marketing strategy
• Detail actions illustrated in marketing mix implementation

Other teams need to prepare tough questions as your are the high management people!!

Week 15

Topic: Marketing Channels

Date: Dec 27, 2009
Time: 6:30-9:50pm
Classroom: TR 510

Agenda

6:30-7:00pm Case Study

Payless ShoeSource: Paying Less for Fashion

Each team has 5 minutes to present your findings and answers

7:00-9:00pm Lecture

Marketing Channels: Retailing and Wholesaling

9:00-9:30pm Case Study

Whole Foods: A Whole-istic Strategy

Questions for Discussion

1. Define Whole Foods's product. How does it deliver value to customers?
2. Many chains have begun offering and expanding their selection of organics. Does this pose a competitive threat to Whole Foods?
3. What challenges will the company face in the future as it continues to grow and expand?
4. While Wholes Foods has clearly positioned itself away from pricing issues, can it avoid this element of the marketing mix forever? Why or why not?

Each team prepare 5 minutes presentation to answering above questions.

Guideline of Wirting A Marketing Plan

The Marketing Plan is a highly detailed, heavily researched and, well written report that many inside and outside the organization will evaluate. It is an essential document for both large corporate marketing departments and for startup companies. 

Essentially the Marketing Plan

• forces the marketing personnel to look internally in order to fully understand the results of past marketing decisions.
• forces the marketing personnel to look externally in order to fully understand the market in which they operate.
• sets future goals and provides direction for future marketing efforts that everyone within the organization should understand and support.
• is a key component in obtaining funding to pursue new initiatives.

The Marketing Plan is undertaken for the following reasons:

• as part of the yearly planning process within the marketing functional area.
• for a specialized strategy to introduce something new, such as new product planning, entering new markets, or trying a new strategy to fix an existing problem.
• as a component within an overall business plan, such as a new business proposal to the financial community.

There are many ways to develop and format a marketing plan. The approach recommended here is to present a 7-part plan that includes

• Mission Statement
• Business Description

1. Executive Summary
2. Objectives
3. Situation Analysis
4. Marketing Strategy
5. Implementation
6. Assessment
7. Critical Issues and Resolutions

to be continued...

Week 14

Topic: Pricing and Pricing Strategy

Date: Dec 22, 2009
Time: 6:00-9:50pm
Classroom: TR 510

Agenda

6:00-7:00pm Group Project Progress Review
Each team presents your up-to-date project with the following content;
1. Company Mission Statement/Credo(100 words at most)
2. Business Description(200 words, covering capital, manpower, products/services, operation)
3. Business Objectives(5 lines at most)

4. Executive Summary(draft to be refined, covering goals, strategies, approaches, budget, key to success)
5. Market and Environment Analysis (Macroenvironment and Microenvironment)
6. Marketing Mix Strategies(to be completed)
7. Implementation(4P's)(to be completed)
8. Assessment(to be completed)
9. Critical Issues and Resolutions(to be completed)

7:10-9:00pm Lecture

Pricing and Pricing Strategy(Updated)

9:10-9:50pm Case Study

Payless ShoeSource: Paying Less for Fashion

Each team has 5 minutes to present your findings and answers

Questions for Discussion

1. Which of the different product mix pricing strategies discussed in the text applies best to Payless's new Strategy?

2. How do concepts such as psychological pricing and reference pricing apply to the Payless Strategy? On what ways does Payless strategy deviate from these concept?

3. Discuss the benefits and risks of the new Payless strategy for both Payless and the designers. Which of these two stands to lose the most?

4. Consider the scale on which Payless operates. How much of a price increase does Payless need to achieve in order to make this venture worthwhile?