For week five of the NYU class Marketing Principles and Practices we were asked to identify the companies forms of communications and how
Previously I had uploaded a presentation for one of my certificate courses called Internet Marketing Strategies. It was my final project and I had used Sephora to do a general analysis of what I had saw as their market plan. For this class I had learned about successful and failed components of different online marketing strategies (hence the title of the class). The class used real world business examples and case studies to determine what works and what doesn’t work when drawing up a marketing plan.
In this post I have compiled all my weekly assignments I have already posted in individual posts into one big master post. Each week students would create write ups centered around the topics we explored that week. Below are each of my assignments along with what I had learned about that week.
During the first week the topics this class had learned was about internet history, web economy, and online demographics.
Homework topic: Netflix
When the annual American Customer Satisfaction Index results were released, Netflix proved to be dropping in its ratings. Netflix was once the hottest online streaming and DVD rental site on the market. Since they transformed their offers where customers had to choose between a DVD rental and stream, Netflix Customer Satisfaction rate lowered and fails to get back up.
Netflix rating had a steep drop back in 2011 and failed to recover. Even Amazon’s streaming scored a better rating than Netflix. Netflix satisfaction rate currently ties with Sears. When Netflix changed its policy many consumers were disappointed with the service offered. Even though Netflix has tried and exclusive content deal with Disney, the company’s host site still had problems. Even after two years, Netflix service is not up to the customers par as it was when they offered a good deal for the DVD rental and streaming service together.
Week two’s session had discussed different economic impacts. The class took a look at the difference between branding and direct responses while also determining different advertising costs.
Homework topic: Finding an article on one of the terms used in the class (market segmentation)
Last week we discussed what market segmentation is. For this assignment I found an article that compares and contrasts what a good and bad marketing segmentation is. The article highlights a profitable target. Marketing Segmentation provides a company with a clear direction that distinguishes which audiences are the best to target for a product. If a market segmentation does not meet these requirements, it becomes a useless idea that no one later touches upon.
During the third week we had explored different user tracking methods (i.e. cookie, IP address, and query strings) along with site design. We had learned about what makes a website easily usable for a consumer and different site designs.
Homework topic: Pick a website with a good site design example and why you like it? (Mac Cosmetics)
Mac is one of my favorite makeup brands. I like their layout because it is sleek and easy to find the products you want. They make their products easy to search and buy with simple buttons. Mac categorizes and subcategorizes their products well. They provide great images in a BIG slider that stands out on their homepage. Although the background is black, they make their products pop with bright colors.
One of my favorite features on the navigation is the ‘colour play’ slider on their website. The slider lets you pick a color on the palate. It then matched and finds products to that color.
Once again I had taken a look at E-mail marketing, but this time for different e-mail strategies rather than purely making an e-mail copy. During week four I had also learned a little bit about SEM (search engine marketing) and pricing models.
Homework topic: Email marketing
This article from Entrepreneur discusses the topic of creating an E-Mail marketing campaign. The article goes through a list of strategies to make your E-mail stand out from others, making it more enticing for consumers to read your message.
Even though the social media is starting to take over the Internet, many companies are still using Email marketing campaigns to attract customers/consumers. Email marketing campaigns are an easier way for companies to advertise because of its cost-effectiveness.
Here are the five quick strategies:
The fifth week was used for the class to explore affiliate marketing along with banner advertisements.
Homework topic: Affiliations
From my own personal experience with YouTube and blogging, I know many vloggers and bloggers connect with some of their favorite stores through affiliation. The bloggers would either test or review the products the companies send them, or set up free giveaways to their viewers. Affiliation programs with companies are a great way for companies to indirectly promote their product. They can check out peoples’ reactions through the free samples they offer.
I looked into an affiliation with sigma beauty and coastal sense for my blog http://monkeychic.com/ a while ago. They offered a great promotion where you complete simple offers by showing your viewers specific products. They would send you different levels affiliates depending on the amount of subscribers, followers, or ratings you have. The program also requires you to keep a spot for their banner on your website or Youtube page.
I think affiliations are interesting because it allows high rated promoters to speak to people who have interest similar to them and who promote your products for a free sample. It is a win-win situation. The blogger has a new product to review and can increase their ratings while also promoting your products.
To conclude the class, the last subject discussed in this class as about social media and how videos go viral.
Homework topic: popular social networks being used and why Facebook is declining
The article listed above is a survey taken by the Los Angelos Times. It is a survey that was taken to determine what was the most popular social network being used right now. Although some may think Facebook is the most popular, Tumblr seems to be more popular. Why is this?
Facebook is starting to lose its “coolness”. In the previous years kids who were 13 years old would have gladly hopped onto the site. But, Facebook is so heavily monitored by adults and their peers, so what is the point. Teens start to find more websites like Tumblr or Instagram more fun to go on. Even just communicating with their friends by texting is more private than Facebook. Teens want to be able to connect with their friends without having their parents eyeballing their every move.