MIMA: Marketing Mix Challenge Liveblogging

October 1, 2008 — Leave a comment

Marketing Mix Challenge
Read the archive: Click Here

MIMA Marketing Mix (10/01/2008)
11:04
Packed room here for the “Marketing Mix Challenge” session

11:05
Moderator is Jeffrey Gorder — we’ll spend next hour talking about formulating marketing mix to launch a new product

11:07
@edkohler would be hating these introductions (he hates introductions)
11:08
Lots of technical problems with pickle clicker this year
11:08
JG – “There is no right or wrong here today. Just panelists’ points of view”
11:08
Case: launch a new sports drink, 1 market, 3 months to prove it’s viable for a national rollout
11:09
Yogurt-based sports drink (VOMIT)
11:09
Market is MSP and you have $500k
11:10
Luba Smulka from General Mills kicks off her 7 minutes
11:11
Runs through Challenge, Target, Barrier to Act, Points of Influence
11:12
This target audience runs in packs — social group in social mindset — instant gratification
11:12
Barrier to Act: new product, never heard of this — give me a reason to buy this
11:13
At home a.m., at work, in store, personal brands

11:13
[Comment From Mitchell Hislop]
Will this be archived somewhere? Perfect?
11:14
@mitchellhislop, this will be archived at http://gregswan.net/2008/10/01/liveblogging-mima-marketing-mix/
11:14
60% online, 8 wks online banner with BOGOCouponing; customized by day part and context; geotarget – dma/zip based on IP
11:15
Wants to get product in their hands and prove that they’re using it.
11:15
30% print – hard to direct mail sample. instead do newspaperwraps
11:16
(really? marketing sports drinks via newspaper wraps? my grandma might see it, but not me)
11:16
12 wks in store sampling — milk carton stickering
11:16
10% broadcast – interactive
11:17
(this is very old school platform — a proven strategy that probably works)
11:17
(I’m late-20s and have never used a coupon — ever.)
11:18
Moving on to Eric Boyles, Global Director of eStrategy at Medtronic
11:18
@medtronic, this would’ve been a clinical trial of 3 years (laughter)
11:19
he’s running throgh assumptions and implications — no profit goal (hooray!)
11:20
Target Persona: bias toward female and healty-aware, not price sensitive
11:20
educated, impulse-buy POP, e-enabled, life-style centric. also resonates with children.
11:20
So what…minimize barriers to trial, sample experience and leverage social
11:21
oooh…graphs!
11:21
There is no way I can live-blog this graph
11:21
What are we looking at, Eric?
11:22
free e-trial with e-coupon
11:22
a search program within 3 mo. period; build a microsite
11:22
(what happens at the microsite though, building it is fine but why?)
11:23
Red box stuff — I’m confused at his graph
11:24
Moderator: how is leveraging social media leveraging work with ecouponing?
11:25
The panelists not speaking are asleep
11:25
[Comment From Mitchell Hislop]
The graph was a little much
11:25
lol — data is even better
11:26
Ron Corbinsier from Cadria is next
11:26
he lays out key objectives
11:26
build awareness of Edge-Y (product name) with “on the move” urban audience targets
11:26
didn’t restrict just to athletic or sports-centric, instead
11:27
(I think that’s smart)
11:27
just because you don’t have roi, doesn’t mean you get a free pass on metrics (yes!)
11:28
gather feedback on product marketing mixture performance
11:29
Key Tactics: Launch tie-in at major metro event, Mobile (Gem car) stores throughout metro, branded “Edge” card mobile money, Web site with mobile store locator and Edge card reloading, Twitter updates on mobile locations, guerrilla sampling and couponing, point of sale media at retail, out of home mobile media, multi-channel performance measurement and purchase
11:29
(he’s really pushing mobilization of the product, which I’m buying moreso than newspaper wrappers and sem buys)
11:31
budget: pos: 15%, Web site and seo: 8%, couponing/sampling: 10%, ooh:20%; mobile store: 34%
11:32
moderator asks about mobile handheld — what role cell phones play in launch
11:33
mobile is built in although not a big focus
11:33
(Who brought a buzzword bingo card?)
11:34
won’t give up the measurement numbers (i wouldn’t either)

11:34
Next up: Patty Henderson, Colle+McVoy
11:35
3 months, 3 slides, 3 different things
11:35
First is trial — 92% of consumers said they’d buy a new product if they tried and like the sample they received
11:35
(I love the old ladies at the grocery store with their little ovens)
11:36
Street teams in the mix to go where people are
11:36
Show up at daycares and gyms
11:36
(I wonder what yogurt does in your stomach when you really workout or run?)
11:37
#2: Incentive
11:37
30% more people are using coupons than ever before
11:38
(I know I’m not marketing to myself, but I hate coupons, never use them — feel like I’m being a cheapo when I use them)
11:39
COUPON via mobile txt with zip finder for retail
11:39
social media monitoring tool — listening to what people say and then react
11:39
drive them to events, listen for yogurt/breakfast tweets/posts
11:40
(I hate the word blog seeding)
11:40
get people on MNSpeak talking (hmmm…they will be snarky, though — are you prepared?)
11:41
“I’m out of money and out of time…but maybe add some radio promotion and out of home”
11:41
moderator: “How important is mom?”
11:42
this is why momtalk would be a blog we “go after”
11:42
do daycares really let you stand outside and sample? if so, how much? what are risks?
11:44
mobile couponing doesn’t require paper, storing, etc
11:44
but logistics still need to be worked out
11:44
(are retailers ready for ecoupons — scanning my phone?)
11:45
@mitchellhislop brings up lack of social media discussion — facebook ads are local — aversion or lack of social media
11:46
jeff gorder says social isn’t a bad thing, it’s more of 3 months is a very short amount of time. build real-world experience and build that out in real world
11:46
luba says she contemplated facebook page, build it and they won’t come — need engaging things
11:46
she didn’t want to commit to that in the trial
11:46
(Facebook Fan pages are FREEEEEE — not $250k)
11:48
[Comment From Mitchell Hislop]
I thought the same thing about the FB pages
11:48
find right mixture of social media is tough when you’re being cross-channel
11:49
(what they’re missing is social media can be affordable if you tap the right advocates — and leaving them out is missing out on a key influencer base)
11:50
Another person asks about lack of social media
11:50
Luba says, perhaps we do a phase 2 to interject more energy in core markets.
11:51
questions about budgets, if you had twice as much money, would you go this same route?
11:53
Patty says she would keep same broad strategies
11:53
Jeffrey says he would double the timeframe
11:53
Twitter wants to know about leveraging packaging plans
11:54
Luba says packaging is a given that it’s your main vehicle of communication

11:54
(it’s funny, because the heart-shaped bowl on cheerios doesn’t reinforce why it’s my favorite cereal)
11:54
more coupon talk
11:55
question: will economy affect marketing mix?
11:56
Eric says EVERYONE is leveraging coupons now
11:56
(do you say COO-pawn, or QUE-pin?)
11:56
among your plans, what would be different between NYC vs. MSP?
11:56
bigger budget, longer time is answer
11:57
Luba says people will ask if she just “bought the volume”
11:58
Patty is talking street teams in MSP but says in NYC she would target key influencers b/c they would carry into work or gym
11:58
(did you guys just hear screaming? seriously)
11:58
(i’m not being ironic, I just heard screaming in the hallway)
11:58
Panel wrapping
11:59

(Also, there’s a great summary from Lee Odden here)

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