E-Marketing has changed research and development in ways. The presentation below displays the effect it has on research and development.
Rachel Tam’s Presentation
If using idea blogs, reading reviews, or social media is too much of a hassle to get ideas, what other ways can research and developers use to gather information and data? The answer is simply the Internet. For many small businesses, because they lack the budget to do big scale market research, the Internet is a good place to gather those data and Google is the perfect tool for that job.
The Internet has simplified the process of collecting and generating data. To be successful in today’s market, conducting research is a must. With the information they gathered, businesses could adjust their strategies to be in line with the current market. According to small business blogs, there are 5 approaches businesses can take and all five steps can be done with Google.
The first approach is to research secondary data, which are information that has been collected from another party, such as journals and articles conducted by other businesses. The second approach is to use Google Adwords Keyword Tool, which helps measure keyword usage and monitor social media sites and other blogs that mentioned the company’s name. The third approach is to look at competitors’ site and see what they are doing and what other people are saying about them. That way companies get an idea of the type of products and services they are offering. The forth approach is to use Google Analytics to measure the flow of traffic to measure their presence in the market. It is a way to keep track on where the clicks are coming from.
The fifth and final approach is to conduct online survey. Online survey is very different from the traditional survey because anyone can do it without getting off his or her chairs, and it may also be the cheapest way to do this. Sites such as Survey Monkey and Question Form are free survey generators. Companies can also use Google docs to create and distribute the survey. The results are live and are then inputed and organized into a spreadsheet. Companies can use their online focus groups and invite a few individuals to participate.
Google is a great tool for a lot of people and it is especially helpful in e-marketing. Without Google’s tools, tracking the number of clicks would be disorganized and difficult. Before Google’s time, research and development was done through the traditional way of mailing out surveys and approaching people who walks by, but according to Burns, author of Marketing Research, the responses rate is as low as 4%.
For the longest time, businesses relied heavily on their research and development team to physically go and collect ideas and data from the public to improve their existing products or creating new products. Then analyze the data collected to forecast the public’s appreciation for the idea. Today, companies are getting product and improvement ideas from the public just by using the internet. Their main focus is no longer the R&D team, they can cut cost by getting ideas from a large group of users on the internet; a term referred to crowdsourcing. Crowdsourcing is a great way for the public to share their ideas and opinions. More businesses are taking advantage of this opportunity.
In 2009, Google came out with the Google Idea Product Blog. This product blog allow users to post, discuss, and vote on others’ idea. The more votes an idea get, the higher chance it has of Google implementing the idea. So what happens when Google makes million from an idea you posted? As mentioned in Adam Frucci’s blog, you get nothing more than a shout out from Google. The Idea Product Blog has failed to mentioned what would happen if Google does take your idea.
Google is only ONE of the MANY company that utilizes the convenience of the internet. Starbucks launched an ‘idea blog’ of their own called MystarbucksIdea where Starbucks fans can share new drink, experience, and innovation ideas. Here is an example of gift cards that a customer created and was implemented by Starbucks, the Starbucks gift card multiple packs and mini card. However, according to Walter Adamson, only 0.03% of ideas are put to work. 75,000 ideas have been submitted and 25 ideas were implemented during the first year. That is an average of 3 ideas for every 10,000 submitted.
Dell also launched their IdeaStorm website which allow users to do the same similar things. Dell’s implementation rate is higher (at roughly 250) than Starbucks, but nonetheless, Dell is similar to Starbucks because only a small amount gets implemented. Dell’s focus is not the return on investment, but rather to create a dynamic and democratic culture for communication, innovation, and in the end sales. Dell realizes there are negative comments associated with the IdeaStorm, but in order to survive the change environment, all feedback are good feedback.
Crowdsourcing is becoming a big trend in E-marketing. Companies are using it as a way to engage their customers and to make them feel connected with big corporations. It makes them feel as if they have the power to change things for the better. With idea websites, it shortens the steps and combines research and development and customers relations all in 5 steps. The 5 steps mentioned in Ines Nadal’s blog are listen, monitor and understand, identify, predict, and take action. Not only do idea blogs help companies develop, it also helps with branding strategy, communication concept, and media planning. Highly active idea contributors have a higher chance to be picked by companies to test and give feedback about a product or service before they launch it to the general public.
In a way, Idea blogs can be seen as a ‘social networking’ site. It connects users to other users alike with similar innovation and passion, an interactive way to engage people to unleash their creativity. Agencies and clients can connect and may even recruit talent from all around the globe.
Before internet-marketing became a huge trend, it was almost impossible for people to voice their opinions and thoughts. Now, if others favor an opinion, the concept may actually become a reality. Even though the implementation rate is low, it is the idea that customers can contribute and be proactive with the company. Internet marketing has encouraged people from all over the world to share their views and by empowering their voice.
In the current economy, it is difficult for businesses to rise to the top and make a profit. Businesses are in a constant competition with other businesses in the same genre. To make an impression on customers, companies need to put forth their best marketing effort and convey to customers’ on why they are better than their competitors. When making a decision, customers look to see what gives them the most bang out of their buck.
Sustainability is becoming a huge topic and more people are focusing on being more sustainable. Sandwich shops tend to give customers the impression they are healthier and greener compared to regular fast food restaurants. Subway is one of sandwich shops’ biggest competitor. They are widely known throughout the US and around the world. How do Quizno’s compare when the two are are being compared….?
Both sandwich shops can be found worldwide, but the number of sites Subway has significantly outnumbers Quizno’s. Subway was founded in 1965 and they currently have 36,352 restaurants in 98 countries. That is a average rate of opening 773 restaurants a year! Quizno’s was founded in 1981 and currently have about 3500, an average of 113 restaurants. In terms of market presence and convenient locations, Subway wins this round because of their fast growing number in locations and convenience.
Compared to other sandwich shops, Subways offer a variety choice of meat, sauce, toppings, and bread. There are hundreds different choices for a sandwich. However, when compared to its competitors, the sandwiches seem typical and similar in taste, the sandwich relies heavily on the sauce you put on your sandwich. Quizno’s on the other hand depends on the meat, toppings, and sauce to bring out the flavor and a variety of original sandwiches that cannot be found in other shops.
When Subway launched its $5 footlong, it became a huge hit and it is still continuing to make an impact on the sandwich industry. For a regular sandwich at Quizno’s, it can range from $6-$8 depending on the kind. Knowing this, Quizno’s tried to compete with Subway by launching their $4 Torpedo. Nancy Luna, a fast food critic, compared the two sandwiches side by side in her blog post Quiznos’ $4 Torpedo vs. Subway’s $5 footlong. In length, the Torpedo was an inch longer compared to the footlong, but the Subway sandwich was loaded with toppings. In terms of value, it would be in the customers’ best interest to get a better tasting and loaded sandwich for an extra dollar.
Bottom Line: It really depends on what one looks for in a sandwich shop. Sometimes it is great to switch it up and try different sandwiches. Subway and Quiznos both have their advantages and disadvantages. For this comparison, Subway is the winner in both convenience and value. If you are tired of constantly eating Subway, it is always nice to try something different such as Quizno’s. Quizno’s may not have the best value nor best location, but it does have original recipes that cannot be found in other sandwich shops.
For the month of December, Subway is doing a special promotion where a 6 inch sandwich is only 2 dollars. Of course, this only applies to two kinds, the Meatball Marinara and the Cold Cut Sandwich. With both being so delicious, it obviously comes with consequences. According the official Subway nutrition information website, the 6″ Meatball Marinara for example has 303 g calories and 950 mg of sodium. That is ONLY the meatball and the meatball sauce alone. Of course, we all like to add extra on top of that, such as cheese, mayo, mustard, and the shakers. With all that added on, the calories in that sandwich is well over 400 calories. The healthiest 6″ sandwich is BLT sandwich, which only has 151 g calories with nothing else added. It does not seem Subway is as healthy as the way they advertised it to be on TV.
The famous spokesperson for Subway, Jared Fogle, claimed he lost a significant amount of weight due to his “healthy” diet of Subway. With what I mentioned above, it makes me wonder which sandwich he was eating. The only way this diet would work is if he ate the veggie sandwich everyday, three meals a day, AND exercised on top of that. As human, who can actually eat the same meal for more than twice? We will get tired of it before we can see the effects of the diet.
Since Subway has been advertising this for a couple of years, they really want to deliver the message that Subway sandwiches are healthy. However, this could be considered as misleading advertising and marketing. Maybe if Subway went into details on his daily diet and routines, it will enforce their claims. There are some marketing techniques that I find questionable with business. However, the general public believe claims that businesses make. As a marketing major, I always question the claims and advertising businesses make.