Episode 7 – The Yoda of Marketing (The Force is Strong with this One) Part 2 – Mark Ritson (Marketing Guru)

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Part 2 of 2: Before introducing my guest on this episode… again as it is part 2, I just need to tell you that we are starting to review the CIM Level 4 Digital Marketing Assignment for December 2018 later on in this episode and the following 9, wow, how great is that. Your own personal podcast companion to help with your studies, every step on the way!

Mark Ritson is an adjunct professor of Marketing at Melbourne Business School, but his journey to this point in his career has taken many steps, from the University of Lancaster to developing a mini MBA with Marketing Week in which he also writes an award winning weekly column alongside contributing to various academic journals. Mark has also taught as MIT and London Business School to name just two and has also been the recipient of the Ferber Award for his doctoral thesis along with three other awards for his teaching. He has also worked as a private marketing consultant for some of the largest brands in the world such as Baxter, Loewe, McKinsey, PepsiCo, Subaru, Donna Karan, Westpac Group, Johnson & Johnson, Benefit, Amgen, Ericsson, Cloudy Bay, Unilever, KPMG and WD40. The list goes on but I’ll let me fill in the rest.

Takeaways
VR, AR, BitCoin, who-har and associated nonsense:
– Reality is, keep it simple, just because it isn’t new doesn’t mean its not exiting. Studying the changes in the market and developing strategies that can be activated with a range of robust tactics, and this is ever-changing and challenging
– Do your research, speak to your customers! If the Leeds rebranding teaches us anything, its that your market, your demographic will always tell you want it right for them… especially in an industry where your fans or supporters are so passionate. If you don’t, you may be damaging your brand and no one wants that!
– Every company at some stage will have to diversify, it’s nature(s) or Marketing’s law, even giants like coca-cola and M&S
– Oh and learn Maderin so you can read the original Sun Tzu’s ‘Art of War’ – zi jien

Top Tip – Block Out the Writers Block!
Trying to start an assignment, getting words onto paper and committing to it can be a difficult step sometimes. ‘There is always tomorrow’ says the demon in the back of your mind. But one of the best ways I have found to start writing an assignment or any daunting piece of work such as a strategy, plan or briefing is to not run before you can walk.

Start by focusing on one question at a time, this isn’t an exam, you have time to focus on individual questions before tying it all together. Don’t jump right in and start writing paragraph after paragraph with no clear direction. Instead, start by bullet pointing your answer and getting each of the main points you want to cover down in a simple list, this way you can make sure each answer has a start, middle and end, it is structured, makes sense, and hits all the main point you feel necessary to cover to gain top marks!

So to recap, break the assignment down into section, start off by bullet pointing a particular answer and away you go!

Assignment Question – L4 Digital Marketing (2103) – Dec 2018 (The Scenario)
Over the next few episodes we will take a look specifically at the December 18 Level 4 Digital Marketing Assignment. Starting in this episode with the Scenario that sets the scene for the entire assignment. We will be reviewing each individual question starting in episode 8 right through to episode 18, by which time you will be fully prepared to take on each individual component. But if there is a specific question you are struggling with, then let me know, get in touch via the usual channels or email me directly at [email protected]

Before assigning any time to writing your answers for this assignment, you must first understand the scenario you are working within and this is what we will take a look at now.

This assignment focuses on some core key components from the wider perspective of multi-channel marketing to the more specific digital channels, categorised here as Paid, Owned and Earned. But what does this all mean?

Firstly, multi-channel marketing – This simply means implementing a strategy across multiple platforms such as the digital – email, apps or a website and also the offline channels such as point of sale, print advertising or PR and packaging.

There are so many benefits to multi-channel marketing such as increased awareness from more exposure and multiple touch-points, more data and feedback, the list goes on but we’ll review these in a future episode, in fact, lets do that on the next episode (that’s episode 8, where we’ll also talk to Dave Chaffey the co-founder of the Smart Insights website, a fountain of knowledge for any studying or practicing Marketer)!

Right onto Paid, Owned and Earned media and this trio really focuses in on the Digital channels you will be discussing but can be and should also cover traditional channels.

Earned is a comms channel that is not owned. A good way of viewing this is by seeing it as ‘word of mouth’, for example shares, likes, comments, reports, or word of mouth!

Owned channels are quite simply, anything you have control over – website, social media channels, publications, literature, samples and trade show stands are just a few.

And Paid channels are quite simply the channels that require payment before use, such as Pay Per Click (PPC), display adverts, print advertising. Anything that is taking your hard earned cash.

So as you can see there is a lot to consider in this assignment, but do not panic. We’ll be back on later episodes to take you through it!

Happy Marketing Everyone!
Peter
www.marketingstudylab.co.uk
www.linkedin.com/company/marketing-study-lab/
www.facebook.com/marketingstudylab/
https://twitter.com/mktstudylab
(@mktstudylab)

Music Featured on this Podcast:
Sleepy in the Garden
Lobo Loco www.musikbrause.de
Creative Commons License

Links
Marketing Week Column: 
https://www.marketingweek.com/focus/mark-ritson/
Mini MBA: https://mba.marketingweek.com

Tango Ad: https://www.youtube.com/watch?v=iqVFnxHWnlc
Hagen-Daz: https://www.youtube.com/watch?v=sj49lJJr17g
Leeds Rebranding: https://www.marketingweek.com/2018/01/31/mark-ritson-leeds-united-rebrand/

Book
Art of War Sun Tzu: https://amzn.to/2JD0yaf

Model
Net Promotor Score: https://www.smartinsights.com/customer-engagement/customer-engagement-analytics/using-net-promoter-score-to-assess-marketing-effectiveness/

App
LinkedIn: https://www.linkedin.com/in/markritson/

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