Summary: Experiential Marketing - BusinessNews Publishing - ebook

Summary: Experiential Marketing ebook

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The must-read summary of Bernd Schmitt's book: "Experiential Marketing: How To Get Customers To Sense, Feel, Think, Act and Relate To Your Company and Brands".This complete summary of the ideas from Bernd Schmitt's book "Experiential Marketing" offers a new way to look at the goal of marketing. In fact, traditional marketing is benefits-oriented – that is, consumers are assumed to be rational decision makers who seek to maximise the number of benefits they derive by comparing different products that offer different sets of features. In this context, branding is used to create awareness and attention. This summary highlights that, by contrast, experiential marketing suggests that consumers want to be stimulated, entertained, educated and challenged by the products or services they buy. In fact, customers are looking for brands that provide them with memorable experiences. Thus, the central activity of experiential marketing is to develop efficient ways to create and deliver experiences. Added-value of this summary: • Save time • Understand key concepts • Increase your business knowledgeTo learn more, read "Experiential Marketing" and discover an insightful guide which will help managers and strategists complement their tactical efforts in the marketplace.

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Book Presentation: Experiential Marketing by Bernd Schmitt

Book Abstract

About the Author

Important Note About This Ebook

Summary of Experiential Marketing (Bernd Schmitt)

The Experiential Marketing Revolution

The Five Types Of Experiential Marketing Experiences

The Structural, Strategic and Organizational Issues of Experiential Marketing

Book Presentation: Experiential Marketing by Bernd Schmitt

Book Abstract

MAIN IDEA

Experiential marketing is a new way to look at the goal of marketing.

Traditional marketing is features-and-benefits oriented – that is, consumers are assumed to be rational decision makers who seek to maximize the number of benefits they derive by comparing different products that offer different sets of features. In this context, branding is used to create awareness and attention.

Experiential marketing, by contrast, suggests that consumers want to be stimulated, entertained, educated and challenged by the products or services they buy. Thus, they are looking for brands that provide them with memorable experiences. The central activity of experiential marketing is to develop efficient ways to create and deliver experiences.

As business leaves the last century and enters the new, many companies have reengineered and acquired new assets, new strengths and new competencies. At the same time, the information revolution is creating additional opportunities for organizations to grow, expand and evolve. Experiential marketing – which has at its heart the ability of a company to create and deliver a desirable customer experience – holds the key to leveraging those new assets, strengths and competencies to achieve growth.

About the Author

BERND SCHMITT is a professor, founder and director of Columbia Business School’s Center on Global Brand Management. Professor Schmitt holds a Ph.D. from Cornell University and has consulted and given lectures and seminars in more than twenty different countries. He is also a frequent speaker at marketing and management conferences, and has appeared on CNN, CNBC and the BBC. Professor Schmitt’s Web site on experiential marketing is located at http://www.exmarketing.com.

Important Note About This Ebook

This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.

Summary of Experiential Marketing (Bernd Schmitt)

The Experiential Marketing Revolution

Main Idea

Today’s consumer wants to buy products and services that dazzle their senses, touch their hearts or stimulate their minds. They respond best to marketing that delivers an experience they enjoy rather than simply provides a shopping list of features and benefits.

Supporting Ideas

Three business trends are combining to form a fertile environment in which experiential marketing will flourish:

Information technology is becoming wide reaching.Everything is becoming branded.Two-way communication is becoming globally available.

These three trends also serve as an early sign that traditional marketing will not be as effective in the next millennium as it has been in the past. Why?

Today’s consumers automatically assume whatever they buy will be of high quality and has the features they need. Therefore, they want something more – consumers want to be dazzled, to have their hearts touched or their minds stimulated through the products and services they buy.