To the delight of the entire world, the 2021 Marketing Lab Labby awards were presented on April 14th. Here are some of the most prestigious, resume-building awards.
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Being the moderator of a focus group presents unique opportunities and challenges. The role takes practice. Let’s have a brief overview of what a focus group typically entails, then we’ll discuss three important skills that will help you be successful as a moderator.
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Meet the 2021 Marketing Lab leadership!
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Too often we see companies make promises that aren’t actually kept. It sends consumers scrambling and companies often don’t jump to fix the problem. Instead, companies should follow three key steps to ensure they avoid this cycle.
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We see brand love around us every day in the clothing we wear, the technology we use, and the food we eat. In a world full of beautiful brands with incredible qualities, how does a consumer commit to one and find brand love? Do consumers commit by “following their heart?” Do they take some brands out for dates? As a brand, how can we earn consumer love, engagement, and loyalty? Here are a few tips and tricks to increase brand engagement and loyalty.
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Due to the length of the pandemic, we believe that certain habits have shifted while new ones formed and are now common. Those Brands and companies that can best adjust with these new & shifted consumer habits with have a higher probability of winning as a company/Brand in the marketplace.
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If you or your team are anything like us, you’re always looking for great quotes to motivate and inspire. We’ve compiled marketing wisdom from industry leaders, new and old. These are the kinds of quotes that you can put on the whiteboard or pin to a cork-board. Here are some of the quotes that have helped us here at the Lab reconsider how we do our jobs:
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You’ve sent out a marketing survey, and people are starting it, but not finishing it. Or, you can tell that people are straight-lining answers, or just clicking through the survey without answering (if someone took 30 seconds to finish your five-minute survey, sorry, the data is worthless).
What could be wrong with the survey? Here are some things to look for.
We recently reached out to Scott Varner, a recent Marketing Lab alumnus to see how his career is going. He is currently a Senior Consultant at Clozd, a Management Consulting company that focuses on serving B2B solution providers.
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We recently reached out to Maddie Jacobs, last year’s marketing lab president, to see how her first year post-MBA has been. She and her husband recently relocated to Indiana for her job at Johnson & Johnson. She is currently part of the US Hip(pest) Marketing team, a role within J&J’s Medical Device Orthopedic Company, DePuy Synthes. Maddie is in her first rotation in their two year Marketing Leadership Development Program. Here’s what she had to say.
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First, from the buyer’s perspective (which is the perspective almost anyone can relate to as we’ve all bought something at some point while working with a commissioned salesperson), what’s desired? A buyer wants to:
- Know they seller has their best interests in mind
- Know the solution/product they’re investigating solves their need
- Know the solution/product they’re investigating fits in their budget
- ...and here’s the big one...FEEL like they can trust the salesperson
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Think about the things you’ve gotten from Amazon. If you’re like me, it’s a strange mix. Now, try to remember the brands of the things you purchased. Again, if you’re like me, Amazon wanderings rarely involve brand consideration. Electronic accessories, stationary, storage containers, anything made primarily of plastic, blankets, socks, etc.; I typically have no idea what brands I’ve purchased and now own. All I know is that the reviews were good and the price was right.
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The BYU Marketing Lab values learning and personal growth, so we decided to compile a book list of our favorite reads! After spending a year collecting book recommendations from our lab consultants, we’re excited to present our 2021 favorites. May they help you become wiser, happier, and a more complete professional.
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Just like most business trends that see their time in the sun, there seems to be a general decline in the excitement around traditional crowdsourcing. However, there are two new and interesting trends that are challenging the way we think about crowdsourcing.
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A developed marketing strategy will focus team efforts and provide the greatest return from their marketing expenditures. Marketing managers can use three steps to maximize their marketing budgets: marketing teams should understand their brand promise, build a strategy, and then execute that strategy.
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We could use polls for so much more. As a forecasting tool polls aren’t that great – they set some expectations, and then we still have to wait for the votes to be counted and find out if expectations were met or dashed. But polls are one area where we can actually seek to understand the reasons people vote the way they do. Polling should be a source of insight and empathy. Rarely are polls used that way, and it’s a missed opportunity.
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7 marketing truths that I didn't believe in when I was a green associate brand manager. Oh the fragility of youth...
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What is groupthink? It’s when a single opinion is expressed, and the group rallies behind it without developing opinions of their own, meaning they don’t express those opinions. Sometimes groupthink is a result of the loudest or most persuasive person making others feel like their own opinion isn’t worth sharing. When a person feels like they might be the only person in a crowd who has their particular thought, they aren’t likely to share it. In fact, they’ll change the opinion they express to conform to the group’s. Individuality disappears, and with it the valuable insights of the individual.
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Step aside Bob Barker (you too Drew Carey). “The Price is Right” could potentially be the top four words that dominate the mindshare of business managers, product marketers, and aspiring entrepreneurs within business. Why you ask? Is it game-show infatuation or is it because so many lose sleep wondering about a variation of those four words: “Is the Price Right?”
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We recently had Jeremey Wright, experienced Wavetronix, Conagra, Nestle marketer come and speak to us. He explained an excellent analogy that we share here with his permission.
We think a lot about marketing strategy, obviously. There are a lot of frameworks and theories about how to go about it. Here’s Jeremey’s approach to hitting a great wave and marketing for success:
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