teachthe4ps.com - For instructors of marketing.

An emerging technology is augmented reality (AR).  Wikipedia defines AR as “a live, direct or indirect, view of a physical, real-world environment whose elements are augmented by computer-generated sensory input such as sound, video, graphics or GPS data.”  It won’t be long before shoppers are using AR to help them make buying decisions.  I just read about AR in National Geographic, “Revealed World” (January 2012) – be sure to check out the photo montage to get an idea about how this will work.  The article suggests that what you can now see on your smart phone is moving to specialized glasses and in a few years may be embedded in contact lenses. National Geographic used the technology in a shopping mall to promote its cable TV channel — see below.

For another example, see what Krystal did with a smart phone app below.  I don’t think this really shows the full potential of AR, but it does show a low-cost way to generate some buzz around a brand.  I applaud Krystal for dabbling in the new technology.

I think there is something to this technology — it sure seems like potentially useful information for shoppers — at least if you consider what it will be — not what it currently is.  For that view, look back at the National Geographic article.  It might be interesting to have students read that article or view some examples and ask them, “What could marketers do with this technology?”  I do ask those questions in the post for students at Learn the 4 Ps.

The impact of technology on B2B selling has probably been less dramatic than what we have seen in B2C markets.  That may be because B2B has traditionally relied more on personal selling than B2C.  But B2B marketers are looking for ways to sell more efficiently.  This article at Mashable “8 Ways Digital Will Improve B2B Sales in 2012” (December 30, 2012) offers some ideas about specific trends.

I have been reading a lot of articles this week about the new line of Amazon Kindles.  The most intriguing of these is the Kindle Fire which appears to provide a worthy competitor to the Apple iPad.  While more limited, the Fire is also less than half the price.  The best article I have found on the new Kindles is from Bloomberg BusinessWeek, “Amazon, the Company That Ate the World” (September 28, 2011).  This article, while long, really digs into the marketing strategy angle from Amazon’s perspective.  It also provides a nice compare and contrast of the marketing strategies of Amazon and Apple — two companies that are bound to have a big impact on American business for many years to come.  The article is also very relevant given our recent post titled “Tablets Drive Online Shopping” (September 30). The article also provides an update to the case scenario on Amazon that opens chapter 3 in each of our books.  We have also posted this at Learn the 4 Ps.

This article provides examples you might find useful when you cover price, competition, marketing strategy planning, new product development or retailing.
 

Recent research finds that consumers enjoy online shopping on tablets (like the iPad) more than they do on their standard PCs.  All kinds of measures — from conversion rate (orders divided by visits) to order size — are showing this trend.  This knowledge is driving online retailers to invest in optimizing the online experience for the tablet shopper.  This Wall Street Journal article, “Tablets:  Ultimate Buying Machines” (September 28, 2011, non-subscribers may need to click here).  We also posted this at Learn the 4 Ps.

This example suggests some interesting ideas to bring up in class.  For example, the customer market continues to fragment for retailers, many now aim (at least) two segments of online shoppers — PC users and tablet users.  And retailers are adapting their marketing strategies to each target market.  The article provides some good examples of the types of online retailers are using to better address tablet customers.  While many retailers initially invested in apps specifically for their store, research shows that most tablet shoppers still prefer the browser interface.

This article “Check Out the Future of Shopping” (Wall Street Journal, May 18, 2011 – non-subscribers click here) and its companion video (3:33) below describe a variety of different technology solutions retailers are employing to make shopping more convenient.  The article provides an excellent example of the influence of the external market environment (for retailers) or when discussing retailing.  Also posted at Learn the 4 Ps.

Not the best of news for our marketing graduates, as many  pharmaceutical drug makers are using iPad apps and other digital tools to replace the activities of at least some of their salespeople.  See “Drug Makers Replace Reps with Digital Tools” (Wall Street Journal, May 10, 2011, non-subscribers click here).

When do firms need salespeople, when does technology replace or complement the sales force?  Our books have a great 2 x 2 exhibit in the “Personal Selling and Customer Service” chapter that discusses this very issue.  For many doctors there is no need for relationship building.  This situation creates an opportunity for low-cost e-commerce solutions.  When information needs are standardized, digital solutions may be sufficient — but when information needs are complex and higher, digital solutions may complement personal selling activities.

This article can be a great segue to a discussion of other industries that may see the decline of the traditional sales force — and which industries might be technology-proof.

It is always nice to find articles about marketing research.  This article, “Sentiment Analysis Gives Companies Insight Into Consumer Opinion” (Bloomberg BusinessWeek, March 1, 2011) is an example of a trend in marketing research — real-time analysis of social media data.  Kia, Best Buy, and Viacom are among a handful of firms using…

…a tool that can swiftly analyze large numbers of opinions on the Web, including blogs, the microblogging site Twitter, and social networking service Facebook. It’s called Mass Opinion Business Intelligence and it was developed by an Irvine (Calif.)-based company called WiseWindow. It coughs up a continuous, real-time feed of relevant consumer sentiment, gathered from millions of sites.

The article cites a number of different examples that might be useful in class.  An accompanying slide show of “Most Loved — And Hated — Tech Companies” shows a real example that maps 10 tech companies on a 2×2 matrix — see below.  Check out the slide show and article for a full explanation.

Here is the latest example of the internet threatening to radically change an industry — retail eyeglass sales.  This article in the New York Times, “Defying Conventional Wisdom to Sell Glasses Online” (January 16, 2011).   The article describes a New York start-up Warby Parker.   There are other online sellers of prescription eyeglasses — Zenni Optical and EyeBuy Direct have been around for a few years and sell primarily based on lower prices that start at less than $10 for a pair of glasses.   I have used both of these retailers and while they have pretty limited customer service, I have been pretty satisfied with the experience.  Warby Parker seems to be shooting for a place in the market between the full-service neighborhood optical store and the low price, limited service provider.

The example here could fit into a discussion of market segmentation, competition, technology as an element of the external market environment, place, or retail.

The primary theme driving the revision of the latest edition of our book, Basic Marketing 18e, is the digital lifestyle we observe among consumers, organizational buyers, and its effect on marketing strategy planning.  Customers increasingly rely on the internet, cell phones, and other digital media to gather information related to purchasing.  As we point out in chapter 5, this trend is not limited to the developed countries in the West.  The implications for marketing managers is important and pervasive. So we were excited to see this article in the Wall Street Journal which outlines “The Year Ahead for Media:  Digital or Die” (January 4, 2011 – non-subscribers might need to click here).  The review looks ahead at social media, movies, television, magazines/newspapers, books, advertising, games, and music.

The discussion would probably fit well when you discuss technology and the external market environment or consumer behavior.

This article “Someday, Store Coupons May Tap You on the Shoulder” (New York Times, December 25, 2010), describes how advances in technology are having an impact on coupons.  Marketers face an interesting problem.  They want to make coupons easier to use – but not too easy to use.  As we know, coupons provide a way to segment the market — offering lower prices to deal-prone consumers while selling at the regular price to a segment that is not so price sensitive.  The article describes where this may lead in the coming years.