Monthly Archives: March 2020
Week 2 Response for Ent 610
This week I started “Marketing Research Kit for Dummies” by Michael Hyman and Jeremy Sierra. The authors provide the frame work for a market research study. They emphasize the importance of having the right reasons to conduct a study. It is all about “problem identifying and problem solving.” Market research studies can provide both for the small business owner. As I am reading the first two chapters, I am wondering how many small business owners actually use market research data to help them dial in on problems in the market they may face. This would be a great market research study! The authors also discuss the stages of the marketing research process. It is important to follow all of the stages in order to know that your findings are accurate and can ultimately increase sales and profits.
The following are the stages of the marketing research process according to Michael Hyman and Jeremy Sierra.
- Identify the Problem
- Designing the Study
- Selecting the Sample
- Gathering the Data
- Analyzing the Results
- Communicating the findings and their implications
Future chapters will discuss quantifying results. Putting subjective results into data is intriguing to me because I see a market research study as being random answers to questions posed by the researcher. I know there are methods to quantify what seems to be unquantifiable such as customer satisfaction. Market research is the method to achieve that information.
It is almost like a scientific study. There is a hypothesis and then you test the hypotheses to see if it is correct. Understanding your market and customers is imperative to making an informed business decision. Many people guide their decisions based on experience and “gut feelings.” Wouldn’t it be better to know rather than feel? Even the most experienced professional might be surprised by what they learn.
Hyman, M. and Sierra, J. (2010), Marketing Research Kit form Dummies, Wiley Publish Inc., Hoboken, NJ
Magretta, J., (2012), Understanding Michael Porter, Harvard Business Review Press, Boston, MA, ISBN 978-1-4221-6059-6
S.W.OT. Analysis for Ent 610
Week 1 Ent 610
“Understanding Michael Porter” (2012) is a synopsis of his work over the years. Already it has me intrigued and wishing to dig deeper not just into this book, which is an overview, but into his other work. In the first couple of chapters, the author discusses “Porter’s Five Forces” and “Value Chain Analysis.” Porter’s Five Forces is a tool to analyze the competitive situation of a business. At the center of the five forces is existing competition. Some companies are trying to be better than the competition by comparing similar products and services. This reminds me of the old saying, “the definition of insanity is doing the same thing over and over.” Generally, competition based on “being the best” leads to profit margin erosion. By trying to be the best, a company will most likely reduce their profits because most of the time, products and services are similar. Price is the only differentiating factor. The other forces are “threats from new entries, bargaining power of suppliers, bargaining power of buyers, and substitutes.”
It is said that Michael Porter coined the term competitive advantage. Being different from the competition is the method businesses use to differentiate themselves from other companies truly. Value delivered to the customer is what will increase profit margins. Whereas the five forces analyze a particular industry, value chain analysis discovers facts about the inner workings of a business to strategize a competitive advantage.
This is in stark contrast to the last book I read, “Blue Ocean Strategy” (2015). Magretta references “Blue Ocean Strategy” in her book as not being similar to what Porter is proposing. “Blue Ocean Strategy” suggests that a business needs to redefine the industry in which they are competing. Changing an industry is a great strategy but not always practical. Porter’s “Value Chain Analysis” finds ways to create profit in existing industries rather than reshape the business.
The business I am researching is drone photography. Being an emerging industry, using Porter’s methods of analysis, should reveal a lot of reading interesting information!
Magretta, J. (2012) Understanding Michael Porter, Harvard Business Review Press, Boston, MA
Kim, C. And Mauborgne, R. (2015), Blue Ocean Strategy, Harvard Business Review Press, Boston, MA
Greatest Market Campaign Assignment for Ent 610-TV Commercial Analysis
“Winona in Winona” (2020)
This TV ad debuted during this year’s Superbowl. It depicts Winona Ryder on the side of the road in a town called Winona, Minnesota, creating a website using pictures she has taken. A police officer stops to check on her and asks some questions about what she is doing. Winona explains that she is creating a website. Although awkward, the exchange of words is friendly. The scene is reminiscent of one from the movie “Fargo.”
This ad describes how easy it is to create a website by using “Square space.” The ad neglects to show the URL, but there is a website available that presents pictures from Winona. (https://www.WelcomeToWinona.com). The number of hits on the website can be used to measure success of customer awareness.
The target market of the ad is to the middle age consumer that may want to create a blog to display some of their photographs. Square space is marketing to individuals that may own a small business or want to tell a story. In either case, they are emphasizing simplicity to attract a consumer that did not necessarily grow up in the digital age.
The ad gives value to the product by describing the availability of websites to the ordinary person that desires to tell a story about an event or promote their business online. Creating a website can be done quickly by using Square Space.
Square space is telling the consumer that wants to create a website that is not only something they can do, but it is well worth the effort by being able to create a professional-looking website with relative ease.
“Pure Hockey TV Commercial: Tyler Ennis”
The ad depicts several scenes where an NHL star works at a store that sells hockey supplies in the off-season. The ad uses humor to engage the audience as Tyler Ennis states, “canned” phrases that would be used during a press conference when a customer asks a question.
Pure Hockey is informing the consumer that if you have a specialized request, they are the proper to source of the product. I would say the commercial is telling the consumer that their retail store is where any hockey enthusiast should go to purchase their equipment
Adult, amateur hockey players are the target audience for this advertisement. Although Pure Hockey is a national retail chain (and online as well), it promotes the local store in the market served. They also use a professional athlete that is recognizable to most in that market, but not necessarily elsewhere.
Pure Hockey is attempting to create foot traffic in the store. When somebody is looking for a specific product as the customers in the commercial are, many might search online. By informing their audience that their stores have a wide selection, the customer might stop by the store instead of ordering online, which creates that opportunity for additional add on sales and relationship building by the staff.
Many people would like to purchase from a store if they can. By creating an ad that shows a well-stocked store with personal service, the customer would be more likely to shop locally rather than online.
Burger King: Moldy Whopper Comercial (2020)
Burger King presents an ad that has their signature sandwich, the Whopper, on a table as the days pass. The song “What a Difference a Day Makes” by Dinah Washington is playing. It starts on day one. After day one, the Whopper begins to mold. It ends at 34 with a completely moldy, disgusting-looking Whopper.
At the end of the ad, it is written on the screen, “The Beauty of No Preservatives.” The ad is conveying to consumers the fact that the Whopper does mold, and this is a good thing. Despite using an old, moldy burger in their ad, they are saying the Whopper is fresh and better than what you might get at other fast food establishments.
The target audience for the ad is McDonald’s customers. McDonald’s is Burger King’s most significant competitor. They are attempting to differentiate themselves as a healthier, fresher alternative.
Burger King would like the viewer to make a change from their usual buying habit and try something different. They will experience the same fast customer service experience and get a fresher meal.
Proctor & Gamble: My Black is Beautiful (2018)
This ad does not mention a product but depicts three scenarios where
African-American parents are discussing racism with their children. It appeals to the emotions that we, as a society, need to fight against racism. Two of the scenes suggest the parent is concerned about their child being stopped by the police without cause.
Proctor & Gamble aired this ad to create social awareness of bias that exists in society today. Proctor & Gamble wants the general audience to be aware of the racism that exists today.
The target audience is all people. One could say that there was more appeal to a younger generation because of the request to continue the conversation on social media. They created “#TalkAboutBias” to have a public forum on social media about racism.
Proctor & Gamble believes that our entire society will be better by fighting against racism. By talking about how racism has impacted individuals, others may understand their struggles.
“Five Gum” (2015)
This short commercial (approximately 15 seconds) depicts a teenage girl about to sneak out of her room window to meet someone waiting for her in a vehicle parked on the street. It makes the viewer feel the adrenaline rush that she might have been feeling as she looks back at her room. Interestingly, the ad states in writing at the bottom, “Do Not Attempt” to avoid any potential blame they may take for someone attempting this same act.
The objective of the ad is to give the audience the feeling of chewing “5 Gum.” They describe it as being like the five seconds before beginning an adrenaline rush activity like the one shown in the commercial. Measurement is not possible with this ad, but it does create brand awareness.
Young people probably under the age of twenty four are targeted in this ad. They want their target market to be part of a larger group which is adventurous. Many people want to feel like they are part of something “larger than themselves” and believe the ad makes its consumers feel like they are part of a club.
The ad calls the viewer to use their product if they want to feel some sense of adventure. It also asks them to share through social media what their “#five.” The individual would describe their five seconds before doing an adrenaline rushing feat.
Buyers might purchase this product to feel like they belong to a group and like they are experiencing life in an adventurous way.
Radio Ad Analysis for the Greatest Marketing Campaign Project for Ent 610
Mars Chocolate/Snickers (2019)
Agency: BBDO, New York
This radio advertisement depicts a situation where there are at least three people in a meeting discussing how they can make airport restrooms better suited for use. They used humor and sarcasm by describing things about airport bathrooms that most people find annoying at best. Being set during a business meeting, I believe the people at Mars intended to target working adults. Candy bars are not just to give out at Halloween to kids. I remember when I was a kid, receiving a full size Snickers bar was definitely a “win.” However, in this scenario, Mars wants us to understand that their candy bars are a great snack for adults. The ad suggests that the product is a great for afternoon snack when you might be a little drowsy. A “call to action” is not given, but given that the product is well known to most people, they are looking to remind the consumer about their product.
Quickrete Concrete (2018)
Agency: Fitz Company2
The advertisement produced by Fitz Company in 2018 uses humor to point out that other advertisements give you a story, and then at the end of the story leave you with the point of the advertisement. In their ad, they abruptly stop the story in the very beginning and loudly announce the name of their brand and what it is in just four words. The goal of the ad is to create brand awareness of the product by saying the one word name of the company and simply what they produce which is “quick setting concrete.” I believe the target audience is the do it yourself consumer who might not have a familiarity of different concrete brands. By making a memorable ad, Quickrete made name recognition simply for the general public.
Progressive Insurance (2019)
Agency:Arnold
This advertisement also uses humor to get the consumer’s attention. It describes a situation where a camper owner is in a precarious situation when her camper is spilling sewage. It compares the owner’s screams of worry to that of nearby elk. The point of the advertisement is that anything could happen and you need to be prepared because it is going to happen at the worst possible moment. Many people most likely view automobile insurance as well as other types of insurance as a commodity. RV and camper insurance is more specialized. The ad targets owners of non automobile products by using a camper in its example.
Old Spice (2019)
Wieden + Kennedy
This ad for the manufacturer Old Spice depicts a radio call in show where the call requests the same song about “Old Spice Pomade.” It uses humor to capture its audience’s attention. Two males and a female call to request the song. The female dedicated the song to her boyfriend. The target audience is young males, probably 16-34 years old. The company needs to fight two perceptions. For many years Old Spic was known for their aftershave. The other product that Old Spice is deodorant. In this advertisement, they utilize younger people to target the younger demographic. They also use humor to by stating the product is “for your hair, but not armpit hair.” By making this statement, they are demonstrating the fact that Old Spice produces more than deodorant products.
Motel 6 (2019)
The Richards Group
Motel 6 has always had the image of a friendly and inviting place to stay yet inexpensive. This ad uses humor to poke fun at other ads using a “radio voice.” I have never heard of a vocal fry voice before, but the ad described it well. The point of the ad is to bring back an old favorite and spokesman of Motel 6, “Tom Bodett.” Low budget travelers that want to stay at a motel that has a friendly staff with good customer service is the target market. This might be a wide range of travelers including families, truck drivers, or contractors.
Master of Entrepreneurship Website for Mike Weimar 