The Budweiser Dog and Ello: Am I part of their markets?
Happy Friday DMSers! I’m a little sad the rain has left us so quickly, but at least the clouds are still here. Makes it really seem like fall is coming.
Monday we’ll be diving into advertising. Nieslen did a global study of consumers’ trust in advertising in late 2013. I’ll be highlighting some aspects of this study.
You’ll need to decide if advertising is one source of money for your startup. In preparation for our chat, please contemplate the following questions and come to class with answers:
- Given your lifestyle, name three locations where you see most ads in any given day?
- Which ad techniques are a complete turn off to you? Bring example.
- Which ad techniques do you actually pay attention to? Bring example.
- What actually motivates you to purchase a product/service in the digital space?
One of my current favorite ads is this one from Budweiser. But, it does not motivate me to buy its products as I’m not within its market.
Finally, we have discussed the notion of a value proposition — what will your product offer that your competitors do not, Briggs page 261 — which is part of your business plan. I came across a great example of a value proposition within a startup’s mission statement this morning. Ello is a new social network, which some are calling the anti-Facebook. Check out its manifesto. I think it is pretty well crafted. And, it seems to be helping Ello expand its market given the news reports about the product trending online today.
Contemplate your VP while you’re analyzing how advertising affects you as a consumer.