L1 - Haas School of Business ugba106 Marketing Lecture 1...

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David Robinson faculty.haas.berkeley.edu/robinson/ugba106 Haas School of Business ugba  106 Marketing © D. Robinson, 2009 Lecture 1: What’s New in Marketing
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Lecture 1: What’s New in Marketing ? 1. Current issues in Marketing
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Current Status of Marketing
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What’s new in Marketing? Basic structure and terminology has been stable for half a century It works! US Marketers are very effective It’s a robust, professional discipline
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Democratization of Marketing Consumers rule, and that’s good for Marketers
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Democratization of Marketing If you wanted to choose a special restaurant for your anniversary, would you rely on: Michael Bauer ? Yelp ?
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Good News from Democratization of Marketing 1. Consumers will actually choose to watch ads (who knew?) Consumers have a strong preference for ad- supported web-sites Consumers will search for what they want and Google AdWords is a win-win approach
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More Good News from Democratization of Marketing 1. If you have a good product, “Word of Mouth” is much more efficient with the web There are no costs to the firm for a consumer- written review When was the last time you saw a Google ad?
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Why this is Good News Marketers can adapt to: The decline in newspaper readership The end of “Network TV” TiVoing through ads The proliferation of brands
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Consequences of Democratization of Marketing You can’t hide—your product better be good Advertising has to be “appealing” Boring product pitches won’t be viewed Rise in “image” ads (how you fell about the brand) Rise of alternate form ads and “placement”
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It’s all about the numbers Marketing has always been data driven
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We can no longer get away with this: John Wanamaker Philadelphia 1890s department store pioneer “Half the money I spend on advertising is wasted; the trouble is I don't know which half.”
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“I don’t know which half.” No marketing professional could get away with that today There’s a lot of marketing research Creative ideas are subject to proof
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Is it really a good idea to give away content ? Maybe “free” ain’t the best price after all . . .
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Chris Anderson’s Latest Book
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Pro: “Everything is free on the Net” Marginal cost of the 1001 st subscriber is essentially zero You can always “sell the eyeballs” (i.e., make money from advertising)
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Con: Hey! This stuff costs real money!
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This note was uploaded on 12/15/2009 for the course UGBA 106 taught by Professor Robinson during the Fall '07 term at Berkeley.

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L1 - Haas School of Business ugba106 Marketing Lecture 1...

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