teachthe4ps.com - teaching the 4 ps

Here at Teach the 4 Ps we often highlight stories on the selling power of online reviews and personal recommendations.  Last year’s Nielsen survey on trust showed that we really trust recommendations from people we know.  But how can they leverage that at Facebook.  If Facebook masters it, they will have the keys to a new direction for Promotion.  This recent Wall Street Journal article “Facebook Touts Selling Power of Friendship” (Wall Street Journal, July 7, 2010 – subscription required click here for a back door link, follow the search results).  The video is 6:52 long, but the most interesting stuff for class would be the first 3:30 or so.  It could be assigned to students or shown in class.  You could show it in class and natural discussion opportunities will follow — there are the effectiveness issues and the privacy issues as well.

We have just finished up the next edition of Basic Marketing which includes our take on this transformation and how it fits into teaching the introductory marketing class.  Look for the book in October.

Almost all of our students has a Faecbook profile.  I have always been amazed at how permissive this generation has been with its privacy.  In fact, as we work on revising Basic Marketing, I had planned to develop a new in-chapter box about Facebook and privacy.  The problem is that this topic has been such a fast-moving target.  By the time the book has been published — and out a year or two – things are likely to have changed a great deal.  So I have decided not to do that.  The graphics in this post by Matt McKeon  “The Evolution of Privacy on Facebook.”  Click on the graphic to see how privacy has evolved on Facebook in the last five years.

[UPDATE, May 9, 2010]  Maybe I spoke too soon — or I am biased by my 16 and 18-year old kids.  Shortly after I wrote this post, I read a New York Times article, “Tell-All Generation Learns to Keep Things Offline,” (May 8, 2010) that gives me hope that our students are becoming more cautious with their online privacy.

Wow!  I am continually amazed at how our privacy is compromised on the web.  Interestingly, I am not sure our students care all that much — they post on Facebook about their love, life, and escapades where it is broadcast to their 684 “friends.”  Anyway, be wary when you use web coupons because “Web Coupons Know Lots About You, and They Tell,” (The New York Times,April 16, 2010).  In our books we discuss privacy in the last chapter — so it might fit as an example in these last weeks in class.  It might also be a useful ethics topic in pricing.

We are amazed at how little concern our students (and my kids) have about their privacy.  Are our students aware of what they sacrifice and the potential future problems they may encounter with this carefree attitude?  You might find it helpful to assign or discuss “Rogue Marketers Can Mine Your Info on Facebook,” in Wired, January 5, 2010.