Experiential marketing uses brand relevant experiences to engage key audiences while creating a forum where these audiences interact with a brand. It involves high levels of interactivity and sensory impact and seeks to elicit an emotional response the target through a more personal level of engagement than other media. After economic reforms, marketing has changed the entire consumer behavior; it has intensified more competition in brands. Now we are in net revolution. We have left behind traditional marketing concepts. Earlier we were using product, feature based brands to induce consumers. Now we have new differentiator in marketing. This is called Experimental Marketing. This new marketing mix is trying to bring brands to life through experience. Experiential marketing is to stimulate in active manner, to engage consumer in a personal life experience, to allow them to be receptive with the brand in a personalized environment. Experiential marketing is to create and add the value of life; they are to be involved in the product development process. We have seen lots of marketers doing these experiments like Indica, Pepsodent, NIIT, Pepsi, Dishnet. Experiential marketing is also about choosing customers, selling your dreams. Here a dream is not a product it is about experience. Take the case of PEPSI; they are in the business of creating experiences for consumers through events, placement of visicoolers, etc. Experience marketing is has a mind shift approach in its delivery system. It also has creative rules and a frame work. It has to be viewed scientifically.
[...] Experiential marketing, however, brings your brand promise to life in a totally unique moment in the customer lifecycle. It increases a potential customer's consideration of a product or service at a deeper emotional level. By making data part of the equation, and borrowing principles from one-to-one and database marketing, experiential marketing presents some truly innovative opportunities to activate brand strategies. “Experiential marketing” is a promotions tactic designed to create direct sales and/or highly qualified sales leads by enhancing market awareness and education, in a unique manner and selling environment. [...]
[...] Customer focus Many companies today have a customer orientation (also called customer focus). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach. In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. [...]
[...] agree that customer experience is the next big battleground. What is Experiential Marketing? Quite simply it means creating a live, interactive experience between the consumer and the product or brand instead of just telling them about it. It's a new way of thinking about marketing. What's the benefit? The customer connects in a much deeper way; the company builds a unique connection with customers, gains valuable information about them, and provides more personalized communications. As an added bonus, the customer shares the experience with friends, providing viral marketing for the company. [...]
[...] EXPERIENTIAL MARKETING- BUILDING CUSTOMER ASSOCIATION CHAPTER- 4 DATA ANALYSIS & INTERPRETATION. Experiential marketing has one of the most effective ROI's of all marketing strategies. Here is some research of Gen Y say they are influenced by experiential marketing; of all women say experiential marketing is the medium most likely to move them to purchase a product or service quickly; and of all men say they are influenced by experiential marketing. CBS, Newsweek, Better Homes & Gardens, Modern Maturity, and Soap Opera Digest use event marketing in the form of value added programs. [...]
[...] This will often be 'flying by the seat of the pants', or 'gut-reaction'; where the overall strategy, coupled with the knowledge of the customer which has been absorbed almost by a process of osmosis, will determine the quality of the marketing employed! This, almost instinctive management, is what is sometimes called 'coarse marketing'; to distinguish it from the refined, aesthetically pleasing, form favored by the theorists. It is often relatively crude and would, if given in answer to a business school examination, be judged a failure of marketing. [...]
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