Marketing - A/Prof Fredy-Roberto Valenzuela

What is Digital Marketing?

Watch this short video about this very interesting topic.

Digital Marketing

Dear All,

As promised, today I re-commence posting messages/discussions about Marketing.

I want to start with two relevant questions:

What is Marketing? Have you ever used Marketing?

Looking forward to reading your answers!!

Marketing Concept

Dear All,

Just to let you know that I will recommence to post messages about marketing issues from 20th February 2017. My goal is to make at least one post per month.

Regards,

F.R.

MARKET RESEARCH

As mentioned in my previous post, understanding customers behaviour is paramount for marketers.

Market research allows businesses to collect data to understand how customers behave and why. Surveys, in-depth interviews and focus groups are some of the typical tools used by organisations to gather data.

The video below discusses in a very simple way the steps that are followed in the market research process.

Have a great week!

F.R.

What is Market Research? An Informative Presentation. Market research essentially helps marketers and organizations find answers to their business related problems which they encounter every day. A very informat...

CONSUMER BEHAVIOUR

Understanding how customers behave and why is paramount for organisations if they want to make effective marketing decisions.

The article below discusses an emerging tool for marketers to understand customers behaviour, namely: Neouroscience. It is a very interesting topic so I highly recommend to read this article.

Have a great week!

F.R.

Diving into the 'why' of consumer behaviour - Marketing Magazine Neuroscience has become a rapidly emerging tool for marketers to understand the choices and preferences of consumers. Leading up to her appearance at the Online Retailer Conference, Marketing spoke with Katharina Kuehn, director and co-founder of RDG Insights and one of Australia's first and leading…

MARKETING MIX

"Once the organisation has decided which market to target, a marketing mix has to be designed to meet the needs of that target market. Marketing mix comprises decisions related to product, price, place and promotion".

A simple way to understand and remember these core marketing concepts is by watching the below video.

The Marketing Mix Song (Business Studies take on Paparazzi by Lady Gaga) The song was written as a learning resource for GCSE Business Studies as an introduction to the marketing mix. Darren and I recorded the song and left the vi...

Today 1st of April I recommence the discussions about Marketing issues. The posts will be every fortnight.

Thanks for waiting!

Due to personal issues I haven't posted anything lately. ... Life must go on so I will post another message soon!

Dear Friends,

I wish you a Merry Christmas and a Happy 2016!

I sincerely do hope you and your loved ones have a great one!

Cheers,

F.R.

A very interesting article in relation to how to market tangible and intangible goods and services.

How to Market Tangible and Intangible Products and Services There are two types of products – tangible and intangible. Although each of the two might result in a satisfied customer, how to marketing and advertise each one are vastly different.

Why is so important for businesses not only to understand HOW customers behave but also WHY customers behave in a particular way?

This is the answer given by one of my students -Martin Jaeger:

"if a company is interested in growth, it needs to invest its energies in areas relevant to customers. Understanding why customers behave in a particular way helps a business anticipate the customers next need, desire or move. This is important when trying to delight the customer. If a business goes beyond what is required by offering relevant solutions, they will be perceived as proactive and ingenious. A business can impress customers by appearing connected, creating and controlling a situation rather than just responding to a situation or request. Although the marketer cannot see what the future holds, by closely monitoring the why's relating to the how's, a business can find the indicators for what might be the next move, trend or shift. By interpreting this information correctly, a business is better equipped to bring everything together in formulating timely, appropriate solutions and packages for customer satisfaction.

The benefits of knowing why above how can be illustrated in the following story. When preparing a roast, an aunty would always trim away the sides of the roast before placing it in the oven dish and then proceed to add all the delicious spices and herbs. When asked why, she stated that her mother always did it that way. When the mother was asked why, she affirmed that her mother taught her how. Her mother still happened to be alive and was asked about the value of trimming the sides of a roast. Her reply was that the oven dish she owned was very small and she always had to trim the roast to make it fit!

That's the sort of tragedy that can occur when process (how) is followed without knowing the WHY of the situation!! This relates to so many areas including marketing. Not only does an understanding of the why's enable an empowering position, it provides the basis for innovation and progress. Sadly, our society is being reduced to policies and procedures and common sense is 'out'. If you start thinking - stop thinking and read the policy! Lol! Better stop there - might be getting controversial".

CONSUMER BUYING BEHAVIOUR

If you want your business to be succesfull you need to understand your customers' buying behaviour.

Some of the key questions that you need to anser to understand how your customers behave and why are:

1. What do they purchase?

2. Why do they purchase those products?

3. Where do they prefer to purchase those products?

4. How often do they purchase those products?

5. In what quantity?

6. How do they prefer to pay for those pruducts?

7. Etc.