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September 16, 2013September 16, 2013

ItIt’’s Tony/ Erikas Tony/ Erika AdsAds http://gawker.com/this-three-minute-commercial-http://gawker.com/this-three-minute-commercial-

puts-full-length-hollywood-1309506149puts-full-length-hollywood-1309506149 http://www.ted.com/initiatives/aws/security_cameras.html

Art or science discussionArt or science discussion ImplicationsImplications

Quick Group DebateQuick Group Debate

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Art or Science

MeteorologyMeteorology EconomicsEconomics MarketingMarketing

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DefinitionsDefinitions

Art:Art: Skill acquired by experience or studySkill acquired by experience or study Systematic use of knowledge or skill in making or doing thingsSystematic use of knowledge or skill in making or doing things The use of skill and imagination in the production of things of The use of skill and imagination in the production of things of

beautybeauty

Science:Science: Study concerned with observation and classification of facts and Study concerned with observation and classification of facts and

(esp) with the establishment of verifiable general laws(esp) with the establishment of verifiable general laws Accumulated systematized knowledge esp. re physical worldAccumulated systematized knowledge esp. re physical world Use of hypotheses and controlled experiments to develop lawsUse of hypotheses and controlled experiments to develop laws

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AdvertisingAdvertising

A paid, controlled, wholesale message A paid, controlled, wholesale message communicated publicly to a target, designed to communicated publicly to a target, designed to

create and/or strengthen customerscreate and/or strengthen customers’’ purchasing.purchasing.

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MarketingMarketing

The activities and processes for creating, The activities and processes for creating, communicating and delivering offerings that communicating and delivering offerings that

have value for customershave value for customers

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A Better Definition?

Anticipating the future needs and wants of a target market; learning how to deliver value, and how best to communicate what will be relevant about that value, to the target.

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If we all see and hear things differently, how can marketing be a science?

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chin

eyeear

neck

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Marketing is ArtMarketing is Art

““What [advertisers] ignore is the fact What [advertisers] ignore is the fact that, whether or not people like to that, whether or not people like to be sold, in a sea of choice, a be sold, in a sea of choice, a consumer still has the problem of consumer still has the problem of figuring out what to buy…they must figuring out what to buy…they must recognize that consumers tend to recognize that consumers tend to lead their decision-making with lead their decision-making with intuition, thinking, feeling and intuition, thinking, feeling and sensing.sensing.””**

*Jack Trout, Differentiate or Die,

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Marketing is ScienceMarketing is Science

““If you agree that the ultimate goal If you agree that the ultimate goal of marketing is to maximize profit, to of marketing is to maximize profit, to sell as much product as possible, sell as much product as possible, and at the highest prices possible, and at the highest prices possible, then you…have to be scientific. It then you…have to be scientific. It doesndoesn’’t make sense to do it any other t make sense to do it any other wayway””**

*Sergio Zyman, former CMO of Coca-Cola

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Lessons From PastLessons From PastNew Coke

“There is a twist to this story, which will please every humanist and will probably keep Harvard professors puzzled for years," said Keough (President & COO) at that July 11th press conference. "The simple fact is that all the time and money and skill poured into consumer research on the new Coca-Cola could not measure or reveal the deep and abiding emotional attachment to original Coca-Cola felt by so many people.”

Coke spent over $4 million and came close to losing their business altogether just to learn the lessons of New Coke, all of which can be summed up in the advice of Polonius to his son, Laertes, in Act I, Scene III of Shakespeare’s Hamlet:

This above all: to thine ownself be true, And it must follow, as the night the day, Thou canst not then be false to any man. *

*Adapted from Charles Cooper: America’s Best Companies. www.gowithabc.com

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Does Situation MatterDoes Situation Matter ??

New New CategoryCategory

Existing Existing CategoryCategory

New New

P/SP/S

ExistingExisting

P/SP/S

Of course it is bothOf course it is both

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DemographicsTargetingQuantitative testingMarket SizingMedia Analysis

Creative CopyCreative VisualsMarketing StrategyQualitative interviewing

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Next Week:Next Week: Marketing Fundamentals Marketing Fundamentals

Marketing MyopiaMarketing Myopia Competitive AdvantageCompetitive Advantage Ethics, if timeEthics, if time

If using text: Read chapters 2 and 3: If using text: Read chapters 2 and 3: Strategic Planning for Competitive Strategic Planning for Competitive Advantage and EthicsAdvantage and Ethics