Weekly Reading 3 Chapter 5

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Marketing

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Nov 24, 2024

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1)Have you had any experience with a brand that has done a great job in relationship marketing, permission marketing, experiential marketing, or one-to- one marketing? What did the brand do? Why was it effective? Could others learn from that? Coca Cola is a brand that does a lot when it comes to marketing and creating a strong brand. Despite Coca Cola being a well-known brand across the world, they are always advertising relentlessly. For instance, the “Share a Coke” campaign is one campaign that helped them create a strong brand and create a strong relationship with their customers. This marketing was effective because Coca Cola had bottles that had names and they required their customers to look for bottles, which matched their names. This created a craze over the internet and among the people and made Coca Cola a brand that could relate one to one with their customers. Other Brands should learn from Coca Cola on how to relate to their customers on a personal level. Creating an attachment with the customers is crucial and it might even take the simplest and most inexpensive efforts. 2) Think about the products you own. Assess their product design. Critique their aftermarketing efforts. Are you aware of all the products’ capabilities? Identify a product whose benefits you may not be fully capitalizing on. What improvements would you suggest? Some of the products that I own include technology products such as my iPhone and my MacBook. The design of these products is captivating and it appeals to most of the target market. Apple has created a strong brand such that the customers scramble upon most of their new releases. After any new release, Apple organizes a launch event in order to market the products. However, Apple does not do much after marketing efforts since

their brand is well known. One of the products whose benefits I might not be fully capitalizing on is my phone. I only use it to make calls and message people and I never capitalize on it to search on the Internet or connect with friends through social media applications. Right now, the only improvement I can suggest to Mm apple products are longer battery lives and timely and better updates to their operating system. 3) Choose a product category. Profile all the brands in the category in terms of pricing strategies and perceived value. If possible, review the brands’ pricing histories. Have these brands set and adjusted prices properly? What would you do differently? The product category I chose is the soft drinks category. The most common brands in this category are Coca Cola and Pepsi. Coca Cola prices are much higher compared to Pepsi. Although both Coca Cola and Pepsi are perceived to be excellent soft drinks, Coca Cola has a bigger market share compared to Pepsi and thus explains why it is a stronger brand. While Coca Cola sets prices based on the prevailing market conditions, Pepsi sets their prices to be competitively lower than Coca Cola in order to get an advantage. However, for both brands, the prices have been continually on the rise over the years. What can be done differently is that Pepsi should do more unique marketing efforts in order to get a bigger market share. 4) Visit a department store and evaluate the in-store marketing effort. Which categories or brands seem to be receiving the biggest in-store push? What unique in- store merchandising efforts do you see? The categories I saw receiving the biggest in-store push are electronic products and perfumes. The unique in-store merchandising efforts I witnessed were in store

competitions such as dance competitions and raffles. Social media was also in use whereby one was supposed to post and the person getting the most likes in a limited amount of time would be declared the winner and enjoy discounts. These marketing efforts led to a a record number of sales in the stores. 5) Take a trip to a supermarket and observe the extent of private-label brands. In which categories do you believe private labels might be successful? Why? Private labels are more successful in the cosmetic category. This is because private labels such as Fenty and Kylie Cosmetics are recognizable because their owners are brands. Therefore, customers would like to try products in the cosmetics category because their famous owners are marketing them.

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