Types of marketing

Driving to work yesterday, I began to have thoughts (and self-conversation) about billboards. They have existed for my entire life and for some reason I have always taken note of them. But it wasn’t until I began this class that I actually gave them any thought or consideration. Ever since someone in the class mentioned infomercials and how they stick in your head, I have begun to think more deeply about various marketing tactics without consciously doing so . . . which I suppose is healthy for my learning and meeting the course objectives. Infomercials seem to be in line with society and our current technology. People watch tv. So it seems inevitable that at some point we will catch glimpse of one of them.

Getting back to billboards and my drive to work, I wonder if anyone besides me realizes they exist. How much time can we possibly spend looking at and reading them while we are driving and supposed to be focused on the road? And in this minimal glance, how much of a marketing impact do billboards really have? Billboards are a simple sign. Yes, some move or display images electronically, but they are basically static, with no sound or motion. This is not innovative marketing. Not compared to internet pop-ups or infomercial demonstrations or funny commercials. I thought about billboards for such a long time that I began to think about them in another sense. All this time that my mind was in the world of advertising, I realized that I was driving without really paying attention. So in another sense, are billboards really safe? Has it ever been studied whether billboards increase the instances of car crashes? Not that I really care because I enjoy them, but if the purpose of these huge posters is to attract our attention to some product or service then they are intentionally forcing our eyes to wonder from the road in front of us. Doesn’t seem like the people paying for billboard advertisements care about consumers after all.

Superbowl and marketing. Does it work?

I was really intrigued to your beginning to differentiating marketing and advertising and promotions in class. I have found myself thinking about these terms more and more and am interested in learning more about how each of them apply to business and ways I can use them to (hopefully) someday increase the number of customers/patients and sales/prescriptions after kicking off my pharmacy business.

After the Steelers won the AFC championship, ubiquitous talk about the Superbowl began. Who can discuss the most-watched event of the year without mentioning the commercials? The short blurbs promoting companies, brands, and products have become almost as famous and anticipated as the game itself. But are these million-dollar minutes really doing anything for the bottom line? Are there studies to show that Superbowl commercials create a marginal profit over those items/businesses that are not shown during the game or change the way consumers think or act when it comes to purchasing? This leads back to my main question. . . what types of marketing strategies are worthwhile?

Google it

Wi-Fi- wireless network technology- provides wireless high-speed internet and network connections
**BIGGEST UNKNOWN/WEIRD SURPRISE- The Wi-Fi Alliance is a real organization that owns this term. . . with a registered trademark. Who woulda thought?! But since they own the term, I guess I should go by their definition. “any wireless local area network products that are based on the Institute of Electrical and Electronic Engineers’ 802.11 standards. Excuse me if my use of Wi-Fi doesn’t pertain exactly to what the alpha organization says it should!

CRM- (Customer Relationship Management)- processes a company uses to track and organize its contacts with current and prospective customers.

Data Mining- process of extracting hidden patterns from data

• important tool to transform data into information
• can be applied to data sets of any size
• CANNOT uncover patterns which are not already present in the data, nor uncover patterns in data that has not been collected
  

Growth Share Matrix

(market growth rate vs. market share relative to competitors)

http://www.quickmba.com/om/strategy/matrix/bcg/

Credo

Summarizing-
1. People they serve come first
2. Corporate social responsibility
3. High quality, low costs
4. Respect employees- globall
5. Good citizens- protect community, HEW, environment
6. Responsibility to create profit and return for stockholders

The first thing I thought of when reading the first line to the Credo is the opposition of businesses priority. Southwest Airlines is renowned for their customer service without compensating cost. Without knowing SW’s business strategy, one may think that the customer is number one and that all operations are focused on the passengers. Of course I was “businessly inexperienced” when I learned of SW’s equivalent of a Credo, but I expected what everyone else did- the same number one as J&J. Quite frankly I was wrong. The airline really burst my bubble by claiming that their employees come first. I found this to be a very interesting strategy and it totally changed my perspective of customer service.

I am focusing on Southwest as opposed to the Johnson & Johnson credo because of how much the two companies differ in values and approach. J&J seems to have a very typical list of superiority, but it must work. They manufacture countless products and are successful still today, after 100 years of operating. Southwest on the other hand views their business from a unique perspective. . . take a look at their mission statement:

The Mission of Southwest Airlines
The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.
To Our Employees
We are committed to provide our Employees a stable work environment with equal opportunity for learning and personal growth. Creativity and innovation are encouraged for improving the effectiveness of Southwest Airlines. Above all, Employees will be provided the same concern, respect, and caring attitude within the organization that they are expected to share externally with every Southwest Customer.

Summarizing-
1. Employees come first
2. Treat employees=customers
3. Quality in service, not product

Applying what I learned about SW’s customer service strategy in pharmacy school (going back to my last entry, it is apparent that pharmacy and business do mesh), I can fill in the gaps. The company is built around one prototypical aircraft carrier and runs short flights. They do not differentiate themselves from competitors by elaborate planes or advanced features. Rather by enthusiastic, fun, friendly staff that provide the most excellent customer service. SW believes that:
Happy employees >happy customers >happy shareholders.

Johnson & Johnson rely on outstanding products to provide their customers with a satisfying experience. This brings me to my next analysis of the “Credo” in comparison to the Southwest way. The two companies have very different target populations. J&J’s products are geared toward improving jobs or making tasks easier. Their products, for example in an operating room, must be of extremely high quality and reliable without the risk of failure. Customers use J&J products on a daily basis, often without thought, only taking notice in the event of malfunction or failure. SW serves travelers whom more often than not are already happier (because they are on vacation or at least away from work) than the J&J customer who is on the job. They are ready to have a good time and will try to make the best of any unwelcoming situation. Right away, I ask, does SW even have to try to please the customer? As long as they make it to their destination safely and in a timely manner, SW has provided quality service.

The following is my employer’s mission statement:
Walgreens Mission Statement

We will treat each other with respect and dignity
and do the same for all we serve.

We will offer employees of all backgrounds a place to build careers.

We will provide the most convenient access
to healthcare services and consumer goods in America.

We will earn the trust of our customers and
build shareholder value.

Summarizing-
1. Its not a “credo” as per the lengthy one provided by Johnson & Johnson. It’s simple. I would call it a compilation of the company’s values rather than a “mission”.
2. There is no mention of customer service. In fact, the phrase is not included anywhere in the statement.
3. Because Walgreen’s prides themselves in and has been built from their pharmacies, they focus on delivering those particular services first, and then other products.
4. Instead of guaranteeing their customers service, the company wants to have an even deeper relationship through qualities that we look for in our family or friends- respect, dignity, and trust.

Pharmacy and Business Collide. Or do they actually go hand-in-hand?

First I want to start by putting my interest in entrepreneurship marketing on the table. As a little kid, I always wanted to own a business. And to this day, I find it very intriguing and think it would be rewarding to both my career and life if I was able to succeed at selling a novel idea/service. Now that I am approaching the entrance to the real world, my thoughts of being my own boss seem more like “my style” of work. I want to combine this desire with my passion and background in pharmacy.

My experience to date:

· Eckerd Drug

· University of Pittsburgh Student Health Service Pharmacy

· VA Healthcare System of Pittsburgh

· Giant Eagle Corporate Internship in Pharmacy Information Services

· Walgreen’s

What I know about starting a business:

· Obtain a niche

· Attract customers- promotion, advertising, marketing??

· Reputation is key

· Be competitive

· Prime location

I won’t go into the exact vision I have for my pharmacy, but I think it is a damn good idea. However I am lacking in knowledge to assess a market/determine need and getting the word out there to attract customers. This is probably my main reason for beginning to take MBA classes, especially this class, even though I have no idea if we will cover my main concerns. I do know that I will at least gain fundamental business knowledge that will add to my repertoire of education and experience. Hoping that this class will help me to better understand marketing techniques and relate them to managing and running a successful business, I enrolled in it (as my pharmacy elective) really not knowing what to expect.