BMGT 311: Assignment #1

Students – Please add your comment for assignment #1:

  • Topic: Find and example of a company that does Marketing Research well?  What methodologies do they use?

Chris

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14 thoughts on “BMGT 311: Assignment #1”

  1. I would say Dos Equis, because it doesn’t follow your normal beer marketing strategies, it proves that you don’t have to market how good it tastes or how cold and refreshing it is, to have a successful product. They use humor as a strategy, as well as, making you think that you’re more sophisticated drinking their beer. They are not primarily marketing the quality, they are marketing how you’ll look with their product by using a sophisticated, successful looking man that is pretty much good at anything he does. Finally they conclude all their advertisements using a catch phrase that will surely stick in the consumers head.

    http://www.indelibuzz.com/brand-learn-interesting-man-world/

    1. They really dug deep to get this insight, and created a campaign around it. The article stated “More than anything else, beer drinkers really want to be seen as interesting by their friends.”

      Who knew right? Great find. And this was a great campaign – because it was memorable.

  2. http://www.surveygizmo.com/survey-blog/the-market-research-event-best-buys-innovative-customer-insight-program/

    When thinking of an example of a company that demonstrates proficient market research abilities, I thought of the electronics superpower, Best Buy. I found a very interesting article online dealing with the market strategies they use. The article starts out by explaining how they changed their data systems strategy, which, in turn, saved them millions of dollars since embedding it in their everyday workplaces. They developed an electronic survey and feedback storage system that is used by the employees. They found that most input, behaviors, and customer feedback comes from face-to-face interactions with the employees.This new development has probably improved since its inauguration in 2010. Bill Hoffman, the SVP of Customer Insights at Best Buy, has really proved that innovation is a big part of success in the marketing industry.

  3. Best Buy’s Customer Insights SVP, Bill Hoffman, developed an innovative customer feedback strategy for the employees at Best Buy who face the most face-to-face interaction with the customers. This development’s inauguration was in 2010 so im sure that it has since improved. Good example of marketing innovation, research, and strategy.

  4. I feel that Old Spice is a good example of a company that does Marketing Research extremely well. They capture the attention of viewers with outrageous and humorous commercials. Their unique slogan “Believe in your Smellf” also holds the consumers interest with the product. With a wide variety of products and attractive product design, Old Spice keeps a shopper interested. With all of these methodologies, Old Spice has been able to dominate over some competitors.

    http://oldspice.com/en-US/

  5. I feel that DIRECTV is a good example of a company that does Marekting Research very well. They are able to hook the audience by using humor in their commercials. They stress the point that having cable television will only lead to unwanted stress and DIRECTV is the answer to your television needs.

  6. One company I think is doing marketing research well right now is Frito Lay. Their push to be more involved in social media could end up being very profitable and beneficial. By entering into this arena, they are making themselves available to millions of consumers in an instantaneous fashion. Frito Lay currently has more than 2,000,000 likes on their Facebook page. The way that they are interacting with customers allows them easier access to the thoughts of consumers; more people are likely to drop them a line on Facebook than to take the time to write them a letter or an email. The entrance into the social media field by Frito Lay is a marketing research move that will pay off, if it hasn’t already.
    http://www.inquisitr.com/288992/frito-lay-other-companies-doing-market-research-direct-on-facebook/

  7. In my opinion, Geico is great when it comes to marketing research. Geico has established a great connection with customers through their advertising strategies. This particular insurance agency has been known for running multiple advertisement campaigns at one time. The company does this to keep potential customers from being bored with seeing the same commercial over and over. An additional marketing strategy that Geico has mastered is creating characters in their commercials that are easily recognizable and have potential to be popular among all age groups. Take the Geico Gecko for example. In creating this character, Geico has created somewhat of a hologram that potential customers find humorous and likeable. Lastly and most importantly, the ads created by Geico all have one message to the customer: “15 minutes can save you 15% on car insurance.” With a tagline like that, Geico is letting the customer know that the solution to saving money is an easy one. Their tagline may very well be the reason for their greatness given that saving money is appealing to all walks of life. In conclusion, Geico’s marketing strategies may be very expensive, but they have proven to be very successful in recent years. Since Geico has been running multiple campaigns at once, other insurance agencies have followed their lead; among these agencies are Geico’s largest competitors, Allstate, Progressive, and State Farm.

  8. Neiman Marcus operates a luxury retailer experience for it’s customers online and in-stores. This company understands specialty retailed merchandise and direct Marketing well enough to provide their customers with what they want in an effortless fashion. Because this company has select locations, Neiman Marcus optimizes on the customers online shopping experience.

    Something that Neiman Marcus does to make them one of the best online luxury providers is their personalization and recommendations. It’s like they understand your shopping interest and intent making your shopping experience less frustrating. Lastly, I think it’s a great asset to be available to their targeted audiences in an omni-channel fashion – via email, mobile, web, and other media tablets like iphone, ipad, etc.

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