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J351 Exam 2
Terms in this set (107)
What are the two risk approaches and what are the differences between them?
Precautionary and Reactionary
Precautionary: Better safe than sorry (ex: Health care--> Making necessary changes before things go wrong just to be safe)
Reactionary: After the fact --> Reacting to a situation after it occurs and then making changes
--> Relates to Case Study about building desalination plant
What is mass-amateurization?
Everyone can post anything anywhere even if they are not professionals or experts in a subject
--> Deciding what is professional and what's not
--> Related to Wikileaks: Where is the information coming from? Is the source credible?
Using consumers to generate opinions about products or advertise for the company
--> Ford Fiesta: Gave cars to people to drive and told them to post about their experience
- Risk is that opinions are not all good but it builds credibility for the company
- No professional involvement
T/F: Giveaways and sweepstakes are effective
False: They are a form of bribery
They devalue what you are attempting to do, which is create a brand image
Ex: Ford Fiesta --> Tom Sawyer approach
What is the Tom Sawyer approach?
Reference to painting the fence --> Instead of bribing someone to do it (with licorice) make it look fun so people want to do it
Ex: Ford Fiesta
What do fanatics want to do?
Want to be heard --> Be part of something bigger than themselves
What is the Local Newspaper Philosophy?
The closer a newspaper is to a phone book full of names the more possible readers you will attract
--> People like to see their names and the names of people they recognize
- Relates to mass-customization
Twitter is a... and is considered...
What are the three steps to success in creating a brand name and which step do companies struggle with most?
Listen, Interact, React
--> Companies struggle with reacting
Qualman says people want to keep doing what they have been doing for hundreds of years on television, radio, etc. Why is this flawed thinking?
Have to adapt to changing times
Can't digitize what we currently offer
T/F: It is better to confront problems and address them with the audience rather than hide them
True: People will find the problems and release them to others
--> Relates to "Fail fast, fail forward, fail better"
--> American Airlines negligence
What were the problems with American Airlines spokesperson's "apology" when they were negligent with flight cancellations?
- Used the term "generally correct"
- Didn't use every communication channel
- "Monitoring" as opposed to fixing the problem
- Avoided being involved in the conversation
T/F: It is not a choice whether or not to take part in social media, it's how good at it you are
Example of this
Ex: John Deere
"John Deere sucks!!!" page on Facebook --> Company was not involved on Facebook or with social media so they were unaware of the page and other pages associated with the company
What is brand equity?
Value of brand name
- Create good associations
Ex: Apple vs. PC --> Apple has strong BE with strong consumer base
What are some problems with associating celebrities with a brand?
If celebrity goes downhill so does brand equity
Ex: Tiger Woods
What is the New Age of Engagement?
Customer engagement and conversation = quick identification/adaptation to changing needs
What is the New Business Model?
- 140 character world
- Social media is no longer a choice
- "Adapt to communication in succinct and salient sound bites"
T/F: The New Business Model is both a blessing and a curse
What two things must a person know in order to sell a product or brand?
2. Niche market
T/F: It is better to be great at one thing rather than trying to over-promise
Ex: Southwest Airlines --> "We only give you peanuts so our fares cost peanuts"
We don't give you a ton so you don't pay a ton
- Focus on rates rather than making great claims
T/F: It is better to be the best at something, NOT everything
Ex: Dunkin vs. Starbucks
Dunkin --> Associated with being good for working person, on the go, quicker, fast, cheap
Starbucks: Associated with being good for luxury (eco campaign)
Why didn't Spirit Airlines honesty work for their brand equity?
They were not transparent. They advertised that the prices for the flights were cheap but customers paid for everything else when they were not warned beforehand
What is a good strategy for brand marketing?
Keep the message simple and convey one salient point
What are two examples of companies that exhibit strength in one particular area? What are those strengths?
Fed-Ex: Overnight shipping
You need to re-evaluate the way you are communicating your brand if you can't do these 3 things
1. State what you stand for
2. How it is different from others
3. In a few short words
What is the Past Marketer's Philosophy?
- All about sex and sizzle of message/brand imagery
- All about message (Good marketers can sell anything)
- Seller "knows what's right for consumer" (Doing consumer a service because they don't know what they want)
- Products developed in-house, then dispersed to public
What is the Present/Future Marketer's Philosophy?
- All about product
- Seller never knows what is right for the consumer (ask and adjust)
- Rarely get it right the first time (Fail fast, fail forward, fail better)
- Customers market products and brand better than the company can -> Leverage company's ideas and is beneficial to all
Why was the ALS ice bucket challenge successful?
- Public figures were doing it
- Formed emotional connections
- Publicly called others out --> Call to action nearly impossible to avoid
What is an individualistic society?
Revolves around competition; Individual success
What is the difference between activism and slacktivism?
Activism is getting involved and helping donate, etc.
Slacktivism is just "raising awareness" without actually making some sort of contribution --> Doing something that makes you feel good but isn't too difficult to accomplish
What is cognitive dissonance?
When thoughts and actions do not match, one will end up changing
Gigantic word of mouth is considered a _______________ technique and shows ________ _____ _____________ _________________
pre-digital; power of digital distribution
How can we leverage gigantic word of mouth?
- Make it personal
How can twitter help small businesses?
- Connect to a bigger audience
- It's free
- Geolocation Tools
- Real-time updates
- Niche topics
- Social Marketing/Fundraising
- Celebrity updates
What is corporate social responsibility (CSR)?
A corporation's initiative to asses and take responsibility for the company's effects on environmental and social well being
--> Efforts that go beyond what is required
What is greenwashing?
Pretending to be ecofriendly or meeting requirements and making claims to it even though not truly making an effort
T/F: The digital age makes everything more transparent
What is Wikileaks intended use?
To public fact-based stories without fear or favor (no bias)
What type of journalism is Wikileaks?
Why was Julian Assange under investigation by a US grand jury in 2011?
Conspiracy to commit espionage
T/F: Companies are most successful when they try to appeal to the broadest audiences
It is best to keep the message _________ and convey ______ ____________.
short; one point
What is required when it comes to access and viability of brands and products?
Info must be easily transferrable and easily accessible
When it comes to subscription services, why can't info from one medium be transferred to another?
We can get information one way or another
Because people expand and demand easy access to news, any hurdles can...
kill distribution and if distribution is limited, viability is doomed
What is a walled garden?
- Closed/exclusive set of information services provided for users
- Methods of creating a monopoly or securing an information system
- Nielsen television rating system —> archaic
- Irrational fear that online viewership would cannibalize normal ratings
Brand budgets historically went to... and is moving to _______ because...
Televisions, magazines, etc.... digital;
-Easier to track
- Audience has moved there
- More cost effective
Why is it good to open up online viewership?
- More measurable
- Younger audience
- Can't skip commercials (TiVo)
- Users willing to give demographic info in return for live online video
- Increases total viewership (more eyes on advertisements)
What is Fast-Forward Behavior?
Real-time big data helps dictate content
- Adjust shows based on FF behavior
TiVo and DVRs in offline world + YouTube Analytics =
Real-time feedbacks for producers about show content
T/F: In terms of advertising, less is better
How did CNN "trust their talent"?
No formal training on Twitter, no PR or brand course on what could be said
- Let talent and producers run with it
- Because of nature of the technology, brand chiefs and executives couldn't approve every sentence that their employees tweeting and posting
T/F: Having 5 stars is better than 4.5
False - Receive more credence for strengths
T/F: User-generated content is beyond the brand's control
T/F: If there isn't a 5-10% negative noise around your brand, then you're either irrelevant or not being aggressive enough
T/F: Negative comments add credibility
T/F: Consumers want conversations and steady, ongoing relationships with companies/brands
T/F: Integration is better than wrapping
T/F: Advertisements are too easily stripped or removed when content is shared virally
- How can you ensure that ads are not missed?
- Include ads on front or back of content. Banners floats on periphery of content
ex: T-Mobile Including photo on separate ad
Rather than follow the interruption model, one should do what two things?
- Become part of content
- Enhance user experience
What is more effective than the generic banner ad? What is an example of this?
Tony Hawk Tweets: Call to action --> Scavenger Hunt made for people and advertised at same time
T/F: It is better to be additive than interruptive
How are advertising models shifting? Give an example
Historically, marketers supported content whereas now marketers create content and seamlessly integrate it with existing content
ex: Stride --> Where The Hell is Matt?
Used content to advertise their brand but didn't push it too far or down people's throats
Why did Stride's "Where The Hell is Matt?" idea work?
- Didn't push Stride's agenda
- Somewhat emotional
- People can rewatch
- Cheaper than trying to get ad spots
- Matt doing the legwork —> Not difficult for stride
-Nominal fee of sponsoring travel costs and paid back in millions of dollars worth of brand equity
- Still being viewed
- Maintained integrity of original concept
- Free T-shirt and pack of gum to participants
Which game is going to be massive business?
Social Video Games
The social graph is the world's largest and most powerful referral program. (T/F)
How do brands relate to soundbites?
a) Deliver Message (concise)
b) Short words
c) Know audience and reach market
Cognitive dissonance is the relationship between your beliefs and your _______.
Local newspaper philosophy is successful because:
a. People like to see their own work.
b. People will feel like they're more involved.
c. People can relate more when news is related to people they know/their own community.
True or false: Julian Assange was charged with conspiracy to commit espionage when he was investigated by a U.S. grand jury in 2011.
False, the original sources are the only ones who can be charged so he couldn't be charged for their actions
Customer _____ & _____ = quick identification/ adaption to changing needs
True or False.
As an individual or company, you should feel compelled to become part of conversations.
Giveaways and Sweepstakes's does what for a company?
devalues what the company is trying to do & gives the illusion that "painting a fence" will be fun
User generated content is beyond _____________?
a brand's control
What is a walled garden?
closed or exclusive services
Brand should not become a part of the content? (T/F):
A 3.5 star rating on a product is more credible that 5.0 star rating? (T/F):
Define Slacktivism: ________________________________
Slacktivism is having something that makes you feel good, but isn't hard to accomplish.
What is Twitter considered?
a modern day database
a micro-blogging site
What company successfully used user-generated content to advertise their product on a limited budget?
What is an example of Local Newspaper Philosophy?
Dancing with the stars, will retweet live as people are writing about the show.
A company should try and please all their customers to ensure customer serivce. T/F
False, Don't try to be all thing to all people.
What does brand equity entail?
Social media steps
Listen, Interact, React, Sell
Research done by oneself is considered secondary. T/F?
Slacktivism drives action through the following ideas
a) Foot-in-the-door approach
b) Cognitive dissonance
c) World of mouth
The 'secrecy tax' specifically describes what?
Paranoia within organizational leadership about leaks
The present and future philosophy ____
Focuses on the product
In a 140 character world, you must focus on _____ for the consumer to retain your message.
Strengths and a particular niche
1. MSNBC restricting online viewership of the olympics paid off.
Which of the following is incorrect. Sound bites must be...
What was one of the reason's the Aviva Solar Car sponsorship was partially ineffective?
The transparency and speed of information exchanged within social media mitigate casual _________ behavior
T/F: Having both a work personality and a party personality will soon become extinct. People and companies will need to have one essence and be true to that essence
T/F: Being well rounded as a company or individual is less beneficial
Playing to your core strength allows you to...
Differentiate from the competition
Who will be the winners of the socialnomic world?
Companies that produce great products and services (not companies that simply rely on great messaging)
Marketers' jobs have changed from _________ and ___________ to one that requires 3 things:
creating and pushing; listening, engaging, and reacting to potential and current customer needs
Advertising historically has been wrapped around the __________ of content, but now needs to be __________ with the content to take advantage of viral opportunities
Which two large companies leveraged the Tom Sawyer approach by letting fans contribute to their products, shows, and services?
CNN and ESPN
T/F: Customers and fans of today are the potential competition of tomorrow
What is the definition of a digital Dale Carnegie?
Listen first, sell second
T/F: It is better to live a social media life making mistakes than living a social media life doing nothing
What is SEO?
Search Engine Optimization
T/F: SEO and social media go hand-in-hand
If a business is concerned with exposing their clients to competition, their problem is not social media, but...
the problem is their business/product. Why do your customers want to switch?
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