Our Marketing Management Learning Journey

Session 1 Session 2 Session 3 Session 4

Marketing: Creating Customer Managing Marketing Customer Value–Driven Group assignment I presentations
Value and engagement Information to Gain Customer Marketing Strategy: Creating
Insights Value for target Customers
Company and Marketing
Strategy: partnering to Build Consumer Markets and Buyer Products, Services, and Brands:
Customer engagement, Value, Behavior Building Customer Value
and relationships
Business Markets and
Analyzing the Marketing Business Buyer Behavior
environment

Session 5:
Group assignment feedback

Session 9 Session 8 Session 7 Session 6

Creating Competitive advantage Integrated Marketing Marketing Channels: Delivering
Communication Strategy Customer Value Developing New products and
The Global Marketplace Managing the product Life Cycle
Advertising and public relations Retailing and Wholesaling
Sustainable Marketing: Social Pricing: Understanding and
responsibility and ethics Personal Selling and Sales Capturing Customer Value
promotion
REVISION Pricing Strategies: additional
Direct, Online, Social Media, and Considerations
Mobile Marketing
Session 7

Engaging Consumers and Communicating Customer Value:

Integrated Marketing Communication Strategy
Advertising and public relations

Personal Selling and Sales promotion

Direct, Online, Social Media, and Mobile Marketing

(Bonus content: Web3 marketing)
Engaging Consumers and Communicating Customer Value:
Integrated Marketing Communication Strategy

Session 7
What is a promotion mix?
Figure
The promotion mix is1.2
the A Modern
specific blendMarketing System
of promotion tools that the company uses to persuasively
communicate customer value and build customer relationships.

Advertising is any paid form of nonpersonal Sales promotion is a short-term incentive to

presentation and promotion of ideas, goods, encourage the purchase or sale of a product
or services by an identified sponsor. or service.

 Broadcast  Discounts
 Print  Coupons
 Online  Displays
 Mobile  Demonstrations
 Outdoor
What is a promotion mix?
Figure
Personal selling is the1.2 A Modern
personal Marketing
interaction System
by the firm’s sales force for the purpose of engaging
customers, making sales, and building customer relationships.

Public relations involves building good Direct and digital marketing involves engaging
relations with the company’s various publics directly with carefully targeted individual
by obtaining favorable publicity, building up consumers and customer communities to both
a good corporate image, and handling or obtain an immediate response and build lasting
heading off unfavorable rumors, stories, and customer relationships.
events.
What is a Integrated Marketing Communications?
Figure 1.2 A Modern Marketing System
Integrated marketing
communications (IMC)
involves carefully integrating and
coordinating the company’s many
communications channels to
deliver a clear, consistent, and
compelling message about the
organization and its products.
Elements of the Communication Process
Figure 1.2 A Modern Marketing System
1. Identify the target
audience
2. Determine the
communication
objectives
3. Design the message
4. Choose the media to
send the message
5. Select message source
and collect feedback
Advertising and public relations

Session 7
What is advertising?
Advertising isFigure 1.2
any paid A Modern
form Marketing
of nonpersonal System
presentation and promotion of ideas, goods, or services by
an identified sponsor.
Setting Advertising Objectives
Figure 1.2 A Modern Marketing System
Advertising metrics
Figure
Reach is a measure of 1.2 A ModernofMarketing
the percentage people in theSystem
target market who are exposed to the ad campaign
during a given period of time.

Frequency is a measure of how many times the average person in the target market is exposed to the
message.

Impact is the qualitative value of a message exposure through a given medium.

Engagement is a measure of things such as ratings, readership, listenership, and click-through rates.
Advertising mediums
Medium
Figure Advantages
1.2 A Modern Marketing System Limitations

Television Good mass-marketing coverage; low cost per High absolute costs; high clutter; fleeting
exposure; combines sight, sound, and motion; exposure; less audience selectivity
appealing to the senses
Digital, mobile, and High selectivity; low cost; immediacy; engagement Potentially low impact; high audience control of
social media capabilities content and exposure
Newspapers Flexibility; timeliness; good local market coverage; Short life; poor reproduction quality; small pass-
high believability along audience
Direct mail High audience selectivity; flexibility; no ad Relatively high cost per exposure; “junk mail”
competition within the same medium; allows image
personalization
Magazines High geographic and demographic selectivity; Long ad purchase lead time; high cost; no
credibility and prestige; high-quality reproduction; guarantee of position
long life and good pass-along readership
Radio Good local acceptance; high geographic and Audio only; fleeting exposure; low attention
demographic selectivity; low cost (“the halfheard”
medium); fragmented audiences
Outdoor Flexibility; high repeat exposure; low cost; good Little audience selectivity; creative limitations
positional selectivity
What is public relations?
Figure
Public relations 1.2building
involves A ModerngoodMarketing System
relations with the company’s various publics by obtaining
favorable publicity, building up a good corporate image, and handling or heading off unfavorable rumors,
stories, and events.

Press relations or press agency involves the Lobbying involves building and maintaining relations with
creation and placing of newsworthy information to legislators and government officials to influence legislation
attract attention to a person, product, or service. and regulation.

Product publicity involves publicizing specific Investor relations involves maintaining relationships with
products. shareholders and others in the financial community.

Public affairs involves building and maintaining Development involves public relations with donors or
national or local community relations. members of nonprofit organizations to gain financial or
volunteer support.
The Role and Impact of PR
1. Figure
Lower cost 1.2 A Modern Marketing System
than advertising

2. Stronger impact on public awareness than advertising

3. Has power to engage consumers and make them part of the brand story
Push versus Pull Promotion Strategy
Figure 1.2 A Modern Marketing System
Personal Selling and Sales promotion

Session 7
Personal selling process
Figure
Personal selling 1.2a A
is when Modern meets
salesperson Marketing System
a potential buyer or buyers face-to-face with the aim of
selling a product or service. The most traditional form of sales, many salespeople are lured to the industry
by the adrenaline rush of high-stakes personal selling.
Managing the Sales Force of Personal Sellers
Figure 1.2is A
Sales force management theModern
analysis, Marketing System
planning, implementation, and control of sales force activities
involving personal sellers.
Direct, Online, Social Media, and Mobile Marketing
(Bonus content: Web3 marketing)

Session 7
Figure 1.2 A Modern Marketing System
Figure 1.2 A Modern Marketing System
Figure 1.2 A Modern Marketing System
 Figure 1.2 A Modern Marketing System

Semantic Web (SW)

• A semantic web enables humans and computers to efficiently communicate. Machines will be able to
understand and respond to complex human requests. Think of “talking” to a computer the same way
you’d talk to a friend. You use natural words and conversations to convey your requests.

• We’ve seen this evolution with Google Search. The search engine has already evolved to display search
results based on actual user questions instead of awkward keywords. Imagine this happening on a wider
scale beyond search engines.

• Web 3.0 focuses on how the backend of the internet is structured. By structuring information
semantically, these kinds of “natural conversations” with computers will be possible.
 Figure 1.2 A Modern Marketing System

Artificial Intelligence (AI)

• Humans and computers speak different languages. The backend of the Internet is built using codes that
machines understand. Meanwhile, humans have to input data in unnatural ways that will fit what’s
already coded. This is changing.

• Natural Language Processing (NLP) is helping computers understand, interpret and manipulate human
language. NLP is a branch of artificial intelligence (AI) that aims to help computers and humans
communicate better.
• Today, we can simply say “Alexa, I like this song”, to which our device will respond “Ok, rating saved”, and then save the
song for future playback. NLP is highly useful in powering smart devices so we can easily communicate with them as we
would with a normal person.
• Web 3.0 uses this technology so that computers would better understand a user’s data inputs. In return, they would generate
accurate and quick responses.
 Figure 1.2 A Modern Marketing System

Ubiquitous
• Web 3.0 is designed to be ubiquitous. This means it will be accessible by anyone, on any device, and in
any application.

• A ubiquitous web is what makes the Internet of Things (IoT) possible. IoT refers to the collection of
network-enabled devices that communicate with each other using Internet Protocol (IP). This includes
smart appliances, wearable devices, home security systems, and computer peripherals.
 Figure 1.2 A Modern Marketing System

Decentralized
• The core of Web 3.0 is decentralization. Unlike Web 2.0 where information is stored in a single server at
a specific location, information on Web 3.0 will be stored simultaneously in various locations. There is
no central data storage.

• This provides several benefits such as:

• Reduced risk of server failures

• Reduced risk of data theft
• Increased data ownership
• Decentralization will address the pressing issues surrounding data privacy and data security plaguing Web 2.0 today.
 Figure 1.2 A Modern Marketing System

Three-Dimensional (3D)
• Web 3.0 enables the development of more applications using three-dimensional design. We would see
more virtual reality (VR), augmented reality (AR), and 3D product visualizations.

• 3D helps people understand each other better and we can expect more creators to invest in 3D design as
Web 3.0 further develops.
 Figure 1.2 A Modern Marketing System

Web3 and Blockchain

• Blockchain technology powers much of what is considered essential in Web3. Blockchain is a rapidly
developing technology that creates an open ecosystem by getting rid of centralized systems. This paves
the way for data security and data decentralization, which are key qualities of Web 3.0.

• Blockchain technology creates a transparent web that increases consumer trust. This will lead to better
and more efficient Web3 marketing strategies.
Marketing in web 1, 2, 3
Marketing in Web 1.0
• During the Figure 1.2 1.0,
days of Web A Modern Marketing
there were System
only very few content creators and the majority of Internet
users were consumers.

• Personal pages were common and they consisted of static pages hosted by paid web servers (thru
internet service providers) or free web hosting services.

• Web advertisements were banned and marketers had to rely on collecting emails for email marketing
and simply using online messaging to reinforce traditional ads via TV, radio, and print.

• Search Engine Optimization was in its infancy and SEO tactics were crude.

• There was potential for digital marketing but it was very rudimentary.
Marketing in Web 2.0
• The development of Web 2.0 gave rise to the digital marketing explosion. As the web evolved to be
Figure
consumer-first, 1.2 A Modern
data-driven, Marketing
and mobile-first, System
so have the various potentials for digital marketing
tactics. The growth of social media platforms like Facebook paved the way for targeted ads.

• Digital marketing became performance and analytics-oriented. Platforms collected so much data and
made it available to marketers through targeted advertisements. As a result, brands began to understand
their audiences more.

• Web 2.0 marketing gave rise to: Geo-targeted ads, Direct-To-Consumer (DTC) brands, Interest-based advertising,
Influencer marketing, Sophisticated cross-channel customer communications, Mobile ads, Improved SEO strategies

• The unprecedented influx of data is every marketer’s dream. By collecting as much data from their
target audience, marketers can craft better campaigns and offers that will entice and delight their
customers.

• However, this flood of data that marketers love is exactly what Web 3.0 hopes to address.
Marketing in Web 3.0
• Web 2.0 focused on improving the front-end of the internet. Web 3.0 is focusing on improving the back
end. Figure 1.2 A Modern Marketing System

• In Web 2.0, data was collected and controlled by platforms and companies. Companies like Facebook own our data and
decide how to share this data with advertisers. Marketers only need to deal with the platform to access the data and create
strategies to acquire, retain, and engage their customers.

• With Web 3.0, data will be controlled by private citizens rather than private entities. No single entity or person will own the
data in Web 3.0. Rather than storing data in centralized locations (like Facebook, Google, or Amazon), data will be stored in
a distributed network that’s owned by no one.

• This gives users control of their data. They can decide where and how to share it. Marketers, in turn,
have more stakeholders to market to, engage with, and retain. These stakeholders include users,
developers, and the communities they engage with.

• Web 3.0 will usher in the evolution of community marketing. As the stakeholders expand, marketers have to invest time and
resources in learning what customers care about and building strategies around it. Channels used with Web 2.0 like content
marketing and SEO will remain but these have to be used alongside Web3 developments like NFTs and tokens.
Figure 1.2 A Modern Marketing System
The Impact of Web3 on Marketers
Web 3 will challenge marketers but it will also provide new opportunities for acquiring and retaining
customers. Figure 1.2 A Modern Marketing System

• Limited access to user data

• Web 3.0 will usher in greater data privacy. Consumers would be able to control their data and how it’s used by companies.
This will force marketers to be more transparent and creative in their data acquisition methods.

• Community-focused approach
• The rapid development of Web 3.0 is due in part to a growing distrust of how brands and companies use consumer data.
With Web 3.0, marketers have to focus on building loyal and engaged communities who will willingly part with their data
and even become brand advocates.

• Increased role of content creators

• Today, content creators are at the mercy of the platforms they choose to publish in. They have to abide by strict guidelines
and contend with limited earning potential. Creators also get only a fraction of what platforms make from the content they
produce. Web 3.0 will grant full autonomy to creators in deciding their content and getting paid for it. Web 3.0 will usher in
a new revenue model where creators will be in control.
Preparing Your Brand for Web 3.0 Marketing
Figure 1.2
A marketing revolution A Modern Marketing System
is about
to happen.

Indeed, Web 3.0 is still under

development but it may arrive
sooner than we realize.

Parts of it are already here, and

we must be ready to ride the
wave when it fully arrives.

Here are ways you can prepare

your brand to adapt Web3
marketing strategies.
1. Follow Web3 trends
Figure 1.2 A Modern Marketing System

Being outdated can be costly. There are a lot of uncertainties but there are also a lot of developments.

When making business decisions, remember that the future is here and it’s rapidly changing.

Depending on your brand, try to acquire 3D assets like 3D models or virtual reality stores.

The more you know about the latest Web 3.0 trends, the more you’ll discover ways to integrate them into
your current strategies.
2. Add NFTs to
your content creation strategy
Figure 1.2 A Modern Marketing System

There are no guidebooks or rulebooks regarding content creation for Web 3.0 but everyone agrees it will
involve NFTs. NFTs (non-fungible tokens) are pieces of IP that live on the blockchain and drive digital
scarcity. For brands that have started creating them, it has served several purposes such as:

• Increased brand awareness and reach

• Novel experiences and exclusive access
• Increased brand loyalty
3. Start building meaningful connections
with customers over social media.
Figure 1.2 A Modern Marketing System

Social media will continue to be a big part of Web 3.0 although with some major changes. Users would be
in control of their data due to decentralization. Building meaningful connections with customers this early
will cement their relationship with your brands and make them willing to trust you with their data.

Marketers should reframe how they look at their customers.

Instead of merely seeing them as numbers or data points, they must be invested in building lasting
relationships that transcend beyond data. Community building is, as previously stated, the core of Web 3
marketing. Even before products could be launched, having a strong community is imperative. Some
products may even come from the community.
4. Use memes as part of your
communication strategy
Figure 1.2 A Modern Marketing System

Memes are considered a universal language on the internet and the Web 3 community are big fans of it.
Memes are approachable, elicit emotions, and have a human feel. They are keys to making projects
relatable.
5. Create new Web3 KPIs
to measure the impact of your efforts
Figure 1.2 A Modern Marketing System

Web 3 will have marketers rethink how to measure growth performance. The key performance indicators
(KPIs) applicable to Web 2 may not necessarily apply to Web3. Some of the metrics you can use for Web3
include:

• Size of community across channels

• Activity and engagement
• NFT sell-out time or “floor price”. A steady or consistent increase in NFT price indicates that your
customers believe in the NFT project.

Most of these metrics are still in their infancy as much of Web 3 remains to be developed and uncovered.
For now, marketers can focus on metrics that gauge product and community engagement. As Web3
matures, other metrics would likely surface.
Existing challenges to web 3.0
Little familiarity
Figure
• Only 25% 1.2areAfamiliar
of US adults Modern Marketing
with NFTs and only 7% System
are actively using them despite their novelty. This indicates that
mass adoption is a long way off and it will take further development and awareness for the technology to catch on.
Lack of enablement layer
• Buying and selling NFTs requires cryptocurrency which requires crypto wallets. There are no mainstream platforms that cater
to non-crypto users interested in NFTs. This provides further barriers, especially for people who are not familiar with the
crypto world.
No easy way to mint and sell NFTs
• Creators interested in making and selling NFTs have a hard time finding a platform to easily and quickly achieve their goals.
DTC boomed when Shopify built a platform where users can create their own branded online store and sell their products
without writing a single line of code. Some platforms have attempted to create an NFT buy-and-sell experience that resembles
online shopping but they are still in their infancy.
Lots of terms to understand and be familiar with
• For the average buyer or creator to get into the NFT space, they need to be familiar with the language. Terms like DAOs,
NFTs, decentralized, etc. can get confusing pretty fast and users spend weeks and months researching these topics.
Need for significant technical knowledge
• Creating NFTs and DAOs (decentralized autonomous organizations) requires significant technical knowledge. Users must
understand how to deploy smart contracts. This can be very technical for a majority of users and presents a barrier to truly
immersing in the experience.
Our Marketing Management Learning Journey
Session 1 Session 2 Session 3 Session 4
Marketing: Creating Customer Managing Marketing Customer Value–Driven Group assignment I presentations
Value and engagement Information to Gain Customer Marketing Strategy: Creating
Insights Value for target Customers
Company and Marketing
Strategy: partnering to Build Consumer Markets and Buyer Products, Services, and Brands:
Customer engagement, Value, Behavior Building Customer Value
and relationships
Business Markets and
Analyzing the Marketing Business Buyer Behavior
environment

Session 5:
Group assignment feedback

Session 9 Session 8 Session 7 Session 6

Creating Competitive advantage Integrated Marketing Marketing Channels: Delivering
Communication Strategy Customer Value Developing New products and
The Global Marketplace Managing the product Life Cycle
Advertising and public relations Retailing and Wholesaling
Sustainable Marketing: Social Pricing: Understanding and
responsibility and ethics Personal Selling and Sales Capturing Customer Value
promotion
REVISION Pricing Strategies: additional
Direct, Online, Social Media, and Considerations
Mobile Marketing