Advertising

Mohammad Anas Wahaj | 24 feb 2016

According to a study by Prof. Sachin Modi of Iowa State University (USA) and Saurabh Mishra of McGill University (Canada), a strong marketing department is crucial to helping a firm leverage its efforts to be socially responsible. Study results show the combination of marketing and CSR can provide shareholders with a 3.5 percent gain in stock returns. Researchers defined CSR as discretionary firm activities aimed at enhancing societal well-being and analyzed six different types of CSR activities - environment, products, diversity, corporate governance, employees and community - to determine whether marketing of these efforts increased long-term firm value and stock price. Firms often consider CSR as a cost and have to make an investment and may not always see the benefits. Prof. Modi says, 'What we want to show is that if a firm is good and has some complimentary capabilities, it can gain a lot from CSR activities...The return is dependent upon the type of activity. Firms benefited from five of the six types of CSR efforts studied, with the exception of charitable giving and philanthropy...We're not saying firms shouldn't give to charity, because it is a very important component, all we're saying is we don't see a financial return.' Prof. Modi further suggests, 'Our hope is that firms see it is important to be socially responsible. It's not a choice of one versus the other. Firms have to do multiple aspects of being socially responsible.' Read on...

ISU News Service: Marketing key to return on corporate social responsibility investment, ISU study shows
Author: Angie Hunt

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Mohammad Anas Wahaj | 23 feb 2016

As digital get seamlessly interwoven into the fabric of life, it will not remain anything extraordinary. In future, advancements in digital technologies will converge to enhance physical experiences that involve our bodies, feelings, emotions, actions and reactions. Auro Trini Castelli, Chief Strategy & Innovation Officer at gyro, explains how the 'Physical Revolution' will be driven by the following five trends - (1) Sensors will be the new devices (Virtual Reality; Motion and Gesture Recognition Technologies; Haptic Technology). (2) Surfaces will be the new screens (Interactive digital screens on walls, floors, ceilings, walkways etc). (3) Smart cities will make us smart citizens (Interactive city systems and digital environments). (4) Only meaningful interactions will survive (Well-integrated interfaces that get activated when required; Focus on human experience). (5) The world will be printed (3D printing for mass customization; Laser cutting; Computer modeling). In this experiential world, architects, designers, engineers, technologists, marketers, advertisers etc have to increasingly think and create with focus on providing solutions that appeal to all five human senses. The success will depend on how invisibly the digital will become part of the physical and improves every aspect of human interactions and experiences. Read on...

AdvertisingAge: The New Revolution Will Be Physical, Not Digital
Author: Auro Trini Castelli

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Mohammad Anas Wahaj | 06 feb 2016

Reviews and recommendations related to products and companies are an important part of consumer buying decisions. Nowadays, technology has transformed word of mouth into word of clicks and taps, bringing consumers closer to other consumers and brands. Online communities around interests, products, and brands have mushroomed. Social media has further brought quality, quantity and speed into the recommendation and review process. According to a study by McKinsey, social media recommendations induced an average of 26% of purchases in 2014, that's up from 10% in 2013. Kishore Kumar, serial entrepreneur and CEO of AllThingsMine, explains how social media networks are assisting cosumers in their buying and purchasing decisions and what companies need to do to effectively utilize these channels for their product marketing and competitive strategies. According to him three aspects of social media influence consumers, and companies have to incorporate them to expand their product sales - (1) Social Referrals: Brands have to encourage and invest in social media referrals. Adweek infographic suggests that 71% of consumers are more likely to make a purchase based on social media referrals. Recommendations from friends and trusted sources are more valuable than product advertisements. (2) Access to Reviews: Consumers research before buying products and reviews are an important source. Companies should provide product reviews and give incentives to those consumers that leave a review. (3) Social Media Accessibility: Social media is freely available to anyone with an internet connection. Consumers can now purchase products directly from their social media feeds when people in their network recommend them. Companies need to effectively tap this potential and reach out to larger public through influencers. Read on...

Young Upstarts: How Social Networks Impact Buying Decisions And The Modern Consumer Society
Author: Kishore Kumar

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Mohammad Anas Wahaj | 30 jan 2016

A panel of health experts from the Food Safety and Standards Authority of India (FSSAI), All India Institute of Medical Sciences (AIIMS), the Public Health Foundation of India and the National Institute of Nutrition, recently demanded pictorial and health warning on junk food packets in order to provide information to people on health issues caused by them. According to Prof. Vandana Jain, in-charge of Division of Pedriatrics Endocrinology at AIIMS, 'We have recommended pictorial warnings on junk foods...or health warnings saying that this product contains fat and salt in excess of what is recommended or even a picture of liver may be put on pack indicating that consuming them may lead to fatty liver in children and adults.' Consumption of products with high sugar, fat and salt have adverse health implications and World Health Organization (WHO) has stated that the best way to prevent obesity among children is to put restrictions on marketing of unhealthy foods. Read on...

The Economic Times: Health experts demand pictorial warnings on junk food packets
Author: NA

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Mohammad Anas Wahaj | 30 jan 2016

According to the 2016 Best Countries Ranking of U.S. News, prepared in collaboration with Wharton School and BAV Consulting, India is included at top of the Movers ranking of countries with up-and-coming economies, and overall it is ranked 22nd. Prof. David J. Reibstein, who teaches marketing at the Wharton School of the University of Pennsylvania and participated in developing the rankings, says 'Nations should pay attention to how they are seen by others, since enhancing these perceptions could create a large economic benefit. The experience of tourists is just one of the factors that colour those impressions, along with the experiences of customers, investors, followers of global news and social media, and what people hear from others.' Read on...

Warc: India is the top mover nation
Author: NA

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Mohammad Anas Wahaj | 28 jan 2016

According to a study, pharmaceutical promotional and marketing expenditures, that include direct-to-consumer advertising (like TV ads), promotions to physicians, journal advertising, distributing free samples etc, increased from US$ 11.4 billion in 1995 to US$ 28.9 billion in 2005. But a recent research study titled 'Does Increased Spending on Pharmaceutical Marketing Inhibit Pioneering Innovation?' by professors Denis Arnold and Jennifer Troyer from University of North Carolina at Charlotte, found that the more pharmaceutical firms spend on marketing drugs, the less likely it is that the firm will produce breakthrough drugs that offer major advances in treatment. Conversely, the more pharmaceutical companies spend on research and development, the more innovative are the results in terms of the development of pioneering drugs according to FDA classifications, i.e. drugs that will improve public health. Authors of the study comment that the research has important policy and ethics outcomes. Prof. Arnold says, 'This article is the first using empirical data to demonstrate that aggressive marketing of pharmaceutical drugs and truly innovative new drug development are at odds. The current patent regime, that provides equal patent protection for drugs regardless of their innovativeness, can be manipulated by firms to increase sales and drive up costs for society without improving public health.' According to Prof. Troyer, 'The effects of increased spending on R&D are large for pioneering drugs. For firms producing at least one pioneering drug over the period (1999-2009), increasing permanent R&D spending by 1% results in an almost one pioneering drug approval per firm.' Read on...

UNC Charlotte News: For Pharmaceutical Companies, More Marketing Equals Less Innovation
Authors: Kirsten Khire, Buffie Stephens

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Mohammad Anas Wahaj | 30 dec 2015

The technology-enabled interactions of consumers and businesses have provided opportunities to capture data and utilize analytics to improve business processes and enhance products and services for customers in variety of industries. The analytics industry ecosystem is mushrooming with numerous vendors, from niche providers to one-stop solutions that include capture, storage, access and study of data for valuable insights. Suhale Kapoor, Co-founder of Absolutdata Analytics, captures various aspects of the analytics industry and its evolution in 2015 and explains what are the expected trends in the year ahead. Trends in 2015 - Growth of new startups and digital marketing tools; Increased use of analytics and Business Intelligence (BI); Rise in use of social media and social advertising on mobile; Rapid expansion of Internet of Things (IoT); Video content; Content marketing and predictive analytics; End-user experience and integration of online and offline content to improve service standards. Trends for 2016 - Shift towards cloud; Streaming architectures will hasten data computations; Visuals will come to rule; Data integration tools will assume more importance; Centre of Excellence (COE) will equip a business in understanding the peculiar needs and challenges for a data scientist; The Internet of Things (IoT) is all poised to bring about a data revolution; Non-analysts will start to dabble in data. Read on...

DATAQUEST: The Analytics Sector - Emerging trends and forecast for 2016
Author: Suhale Kapoor

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Mohammad Anas Wahaj | 16 dec 2015

Public relations need to continuously evolve with the changing behavior of society, advancement in technologies, and new ways of communication and reaching out to public. The industry is undergoing shifts in business models, traditional firms are finding shrinking revenue streams and there is excessive competition along with the wave of consolidation. To navigate successfully in this environment, PR firms have to move ahead with the latest practices and technologies. John Hall, co-founder and CEO of Influence & Co., explores 7 digital PR trends that firms should keep into consideration in 2016 - (1) The traditional press release is no more: Utilize social media. Develop relationships with industry leaders and influencers. Attract journalists and other outlets through quality visuals in the messages. (2) Thought leadership will become a growing PR budget priority: To position as a leader in a particular space is not an easy task. Need to build original content around the brand. For thought leadership the content has to be valuable, educational and engaging. (3) Content amplification will become (even more) critical: First focus on the quality of content. Then amplification for the targeted audience will be easier. Distribution avenues will also expand. (4) Negative brand advocates will be prevented through content: Train the PR team to handle all types of situations and experiences. Learn from the book 'Hug Your Haters' by Jay Baer where he advocates a proactive approach to handle negative people. Moreover use content to educate and engage the team. Give them knowledge to effectively tackle clients and avoid negative brand advocacy. (5) Online reputation management will be necessary: Create and publish quality content to achieve better online reputation management and getting the message to the right audience. Credible online reputation will attract publishers and journalists to use your content. (6) True influence will win over number of followers: High quality smaller network wins over ineffective large following. Focus on developing a network and building influrnce among a targeted, valuable audience and social following. (7) Use of paid promotion and social ads will continue to rise: Content Marketing Institute's 2016 content benchmark report found that more than 50 percent of B2B marketing professionals use social ads and promoted posts to distribute content. The effectiveness ratings for each of these methods have increased since last year. Read on...

Forbes: 7 PR Trends You Need To Know In 2016
Author: John Hall

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Mohammad Anas Wahaj | 09 dec 2015

While peer recommendations and other customer's views have an important influence on purchasing decisions, but an experiment by Cranfield University's Prof. Hugh N. Wilson, Prof. Emma K. Macdonald and doctoral student Shane Baxendale, identified another influential touchpoint that is mostly ignored by marketers: observing what other customers actually do. They analyzed brand touchpoints of 14000 people from N. America and Europe over a week. The data was collected as text message by using research agency MESH Experiences's real-time experience tracking approach. The people were asked to report their experiences of a brand in one of four categories: mobile handsets, soft drinks, technology products, and electrical goods. The results collected from 69000 text messages found that observing other customers in influencing purchase decisions is as important as word-of-mouth recommendations for mobile handsets and soft drinks, and even more important in case of technology products and electrical goods. The experiment overall found that peer observation was equal in importance to the costly brand advertising. Similar thinking that Nobel laureate Daniel Kahneman, psychologist and economist, termed as 'System 1 Thinking' also applies in consumer behavior: with many decisions to take, it saves effort to assume that if others are using a product, it's probably good. For marketers, the researchers have the following suggestions - (1) It's important to think about distinctive branding for the product in use not just for the purchase moment. (2) If decision-making is made by the group rather than the individual, marketers can try to win the group. (3) Expose normally invisible customer behaviors to their peers. (4) Build in peer observation to product launches. Read on...

Harvard Business Review: What Really Makes Customers Buy a Product
Authors: Hugh N. Wilson, Emma K. Macdonald, Shane Baxendale

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Mohammad Anas Wahaj | 30 oct 2015

According to recent research regarding consumer psychology by marketing professors Gina S. Mohr of Colorado State University, Margaret C. Campbell of the University of Colorado, and Peeter W. J. Verlegh of the University of Amsterdam, 'Consumers remember and like products better after seeing covert marketing, such as a product placement in a sitcom, but reminding them that product placement is "marketing" eliminates the effect.' Prof. Campbell, the lead invesigator of the study, comments 'Frankly, we were a bit surprised at the power of covert marketing across a variety of studies. Even though most US consumers know that marketers pay to surreptitiously get their brands in front of consumers, consumers are still influenced by covert marketing efforts.' Prof. Mohr adds, 'In the US there has been some reluctance to incorporate disclosures for fear that it may interfere with creative content. This research suggests that product placement disclosures need not occur at the time of product placement to be effective.' Researchers suggest that the study provides support for the idea that requiring disclosure after exposure to covert marketing would give information to consumers that helps them make better decisions. Read on...

domain-b: Consumers resist influence of covert marketing when paid placements are disclosed
Author: NA

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