Consider the components of viral marketing Incorporate these into your answer

Consider the components of viral marketing

This preview shows page 4 - 7 out of 9 pages.

1)Consider the components of viral marketing. Incorporate these into your answer(from class and the text). How is the advertising landscape changing, and how does that help (or hurt) Mekanism?
Image of page 4
5that TV viewers avoided about 81% of ads (Teixeria & Caverly 2013). Why is this so? One can argue that consumer’s needs are changing. This change is being fueled by Millennials. Millennials “represent a worldwide lifestyle segment that is defined by age (18-24 years) and driven by fundamental needs for creatively, identity, and having fun” (Best 2013). They have influence over 36.6% of the world population in 2010 (Best 2013). They are “uniquely different than previous generations” because they are the largest generation and have the greatest influence compared to other generations (Best 2013). Millennials have moved advertising from the “age of interruption to the age of engagement (Brooks 2015).” They are active, not passive consumers. Millennials need for engagement helps Mekanism. Mekanism has been able to construct needs-based market segmentation (Best 2013)). The problem for Millennials is that traditional advertising mediums do not allow for any engagement. Mekanism provides these benefits that Millennials are seeking. They provide stories that consumers can share for social benefits, such as sharing something that is novel or cool. (Berger 2015). They also provide emotional messages. For example, one gets a “sense of awe” (Berger 2015) when they watch Mekanism’s super bowl halftime ad with Beyonce. Another change in the media landscape is the increasing use of mobile devices. 10 years ago smart phones did not exist. Today, a majority of people in developed countries have smart phones. What’s the significance for digital marketers? Mobile devices have dramatically increased the accessibility of social media and digital marketing to consumers. As a result, digitalmarketing spending for mobile devices more than doubled from $4.4 billion in 2012, to $9.6 billion in 2013 (Holcomb 2014). As more people globally get access to smart phones, more people can be exposed to digital marketing. This greatly benefits Mekanism, who specializes in digital marketing.
Image of page 5
6 2) Mekanism has a choice. Stick with how they’ve grown to date, or diversify to offering other ad content (becoming a full service agency). Companies face this expansion decision all the time. How should they best answer this question (i.e., what data should they look at first). After you explain that, what do you think Mekanism should do? Make your case. In order to best answer this question, Mekanism should look at current trends in the market that reflect what consumer’s needs are. They should also look at their current financial position and the potential for future growth of viral marketing.
Image of page 6
Image of page 7

You've reached the end of your free preview.

Want to read all 9 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

Stuck? We have tutors online 24/7 who can help you get unstuck.
A+ icon
Ask Expert Tutors You can ask You can ask You can ask (will expire )
Answers in as fast as 15 minutes