Marketers tell stories

OK, this is the last assignment of this MKT 412 at Elon.

The topic is all about Old Marketing VS New Marketing.

One of the new way of marketing is “telling a story.” In order to tell a story, the more and more marketers begin to act like “publisher.”

 

The case of dentist in Boston

 

As the clip video showed, one of the dentist in Boston stopped to advertise in yellow page.

Instead, she published her electric book on the internet for free. It caught the people’s interests, and those people visit her dentist when they actually get trouble with their teeth.

 

The case of Le Cache Premium Wine Cabinets

 

This company tells its organization’s story directly to customers. The way of telling stories has much variety, because of social mass medias such as facebook, twitter, blogger.

 

 

What those cases tell us??

 

These businesses could succeed without old way of marketing such as advertising, or marketing campaign. Instead, they promoted direct way of telling their own stories to people in this society. One of the ways is publishing its own media to the society. Another way is posting its story on the social media.

The key word here is “Telling a story.”

 

When I listened to Prof. Mc’s lecture on this topic, I was reminded of the theory by Seth. Gordin.

He is one of the most famous author of marketing books in these days. Actually I was attracted by him in Japan, and I decided to come to the United States to learn more about marketing. In fact, I posted the blog about him before. His book “all marketers are liar” is one of the best seller among the business society a couple years ago. “Tell a story” is really important in this era. People can easily spread their honest reflections on social media.

 

As the material by Prof. Mc say,

“Marketing is more than just advertising”

 

True marketers should not just appeal something to public, but they should tell their stories directly to customers, and keep relationships with them.

 

WWE

 

Ok, I would like to introduce my lovely loyalty brand, WWE!!!!!!!

 

I was attracted by it in Japan for ten years ago.

Recently I had lost the loyalty. However, since this is my last year in the United States, I just went to the WWE show three days ago.

 

AWESOME!!!!

I got the loyalty again. And this time I will not lose its loyalty.

WHY? Because I can still connect with WWE by website, or youtube.

I researched and I figured out that WWE, also its wreslers, have their own facebook account for fans. They try to update anything fun.

I learned a lot from this strategy.

 

Old way….

 

“one-way marketing” is really tough to find in this society…

Everyone knows the importance of social media…

For Wendy’s, which is next to the campus, I can advise them to appeal more on their concept in the mass media. I know they already have their own facebook accounts, but push more and more on their concept. So that college student can communicate more with Wendys.

 

Summary of EVERYTHING

 

Ok, this summary is not limited on this blog, but also my course activities of MKT412.

Most of the knowledge is still depending on historical authorities such as Kotler.

However, I think that Marketing is facing “Paradigm shift.”

 

Especially telling a story directly is possible because of the development of social media.

customers are also changed from what they were 10 years ago.

 

World is changing, and marketers should sense this change, and then cast the most appropriate way of their strategies.

Thank you for this semester.

SPT or Jounalism? : coffee shop industry

For previous two posts, I strongly claimed that STP strategy is still best for new products.

However, Brand Journalism sometimes better than STP, especially for existing strong brand.

 

By the way, I woke up Sunday morning, and checked YouTube. One of my favorite program was renewed. It is “Tiger of Money,” the old Japanese TV program.

The content is that one new entrepreneur presents his idea to five investors.

Have you head of this program, right? YEAH, it is “Shark Tank.”

 

“Tiger of Money” was held by Japanese TV programmer, and that company sold this program to the U.S. company, which is now “Shark Tank” here the United States.

 

I found the interesting one about the targeting of Coffee shop industry.

Unfortunately, this is all in Japanese, so that I am going to summarize in English.

 

Targeting among coffee shop

This Entrepreneur was trying to open new concept coffee store. Each customer can enjoy coffee and fishing in the store. They can do fishing of golden fish with modern Japanese atmosphere.

This guy appeals that he just introduces modern relaxed Japanese taste, and any customers can enjoy once they accept it.

Contrary to his statement, one of the investor said that every single business should have its own target. Yes, it is true for most of the industries, as I claimed always.

 

However, the other investor asserted that especially for coffee store industry, it is nonsense to push its own targeting. coffee store industry is much more on vague, so that the only thing entrepreneur or owner can do is just show his concept, and customer would accept or enjoy his concept.

 

This story reminds me of McDonalds theory of brand journalism.

If you regard McDonalds as just general food chain, you might compare it to other food restaurant. However, if you want to enjoy the atmosphere or being in McDonalds, you don’t have to be targeted by. Just you want to have experiences at McDonalds.

 

My Story of Coffee Shop

Actually, I do not go to starbucks or McDonalds so much if I want to enjoy its tastes.

I really hate those customers honestly.

Instead, when I was in Japan, I often went to classical piano coffee shop.

There were not so much of customers, so that I could enjoy by myself, and also I could practice my piano. Sometime people came the coffee shop just to listen my performance.

That store did not target anyone, and if I open coffee shop in the futhre, I won't do targeting.

Chasm: new innovative product

The previous post is about the Brand Positioning for new venture product.

But still, new innovative product faces tough conditions in order to get enough revenue.

I would like to introduce the theory of “Chasm” by Geoffrey Moore.

 

Chasm

In Japan, Amazon Japan is trying to cast its product “Kindle” now. Even though Amazon is one of the famous brand in Japan, “Kindle” is facing difficulty in its growth. Many scholar of business claim that electric reader is not match with Japanese culture.

However, I know more and more people are using i-Pad of Apple. Why Kindle faces such a difficulty?

 

G. Moore points that for the new innovative product, it will face the difficulty in main market, called Chasm. Chasm appears between “Early Adopters” and “Early Majorities.” According to him, “Innovator” or “Early Adopters” are easily attracted by those new technology products. What is called “high-tech-geek” is best description of those people. However, the main market, or majority of customers tend to follow the new trend when they are sure of products practice.

This significant gap of consumer trend is what is called “chasm” by Moore.

 

Solution

One of the solution is just simple: “Be patient.” It takes long time for those majorities to understand its value. Yes, that is true. However, marketers can much more for this issue.

 

Again, this solution is also about positioning. First of all, the targeted segment is chosen, and then focuses on this segment. Once the new product can establish its position in the market, then it also can appeal its strong value.

Other majority say “oh, this product is famous in this market, probably we can apply this technology to our lives.” Then new innovative product can be spread widely in the society.

 

Amazon Japan can focus on young generation, 20~30, of its e-reader firstly.

Those people are get used to new technology, and easy to accept.

Once Kindle will be accepted this segment, Kindle also be appealed to other segment market, and then gradually be spread among Japanese consumers.

STP or Journalims?

Today, I would like to discuss about the validity of STP strategy of branding rather than brand journalism. In our class, brand journalism is focuses as one of the new tendency of brand strategy. However, I still believe that brand Journalism, trying not to cut the segment, does not work unless its brand has strong existing value.

 

For example, one of the advocator of brand journalism, McDonalds, takes its strategy. McDonalds appeal its value to anyone. “All people have their experiences or memories of McDonalds in their childhood.” That is why customers can be welcomed. The reason why McDonalds is successful to take this strategy is its strong existing brand. Most of people know what McDonalds is. They already have the expectations for dining at McDonalds.

 

How about brand journalism for new venture business?

Personally, I do not think appealing everyone of new brand without its famous core brand would succeed in this complex market. For example, UNIQLO, one of the global apparel companies from Japan, used to take brand journalism in Japan before UNIQLO expands global strategy. Especially for apparel industry, each brand has its own target as usual. However, UNIQLO had just the theme of “high quality with low price.”

It was actually, successful for some extent. However, now UNIQLO takes STP strategy. UNIQLO has realized that apparel industry requires positioning for brands. Therefore, UNIQLO developed its sub-brand, called “g.u,” which focuses more on price competition and its targeting for young consumers. That is why UNIQLO could develop its business in globally.   

 

My opinion of STP and journalism

I really believe that journalism is valid only for strong existing brand such as McDonalds. For most of the brand companies, especially for new ventures, should settle their expected segment, and cast the appropriate strategies, for this complicated market.