Marketing, a discipline that covers a wide range of career possibilities and makes many wonder about what it actually entails in a working environment and current trends. In March 2014, Polaris Family has invited speakers from NUS, P&G and Millward Brown to enlighten our audience on this subject.
Dr. Tuan Phan started off with an introduction of Big Data and Marketing Analytics. Nowadays, more and more data are produced, from social media, user-generated content, etc. which drive more competition and innovation in marketing. He highlighted the presence of search, targeting-intention ads, and in-store security camera tracking. Also are Velocity of data to provide instant feedback, and Variety through the sources of multimedia, social media, and videos. Big data pose challenges about privacy and its related laws and regulations.
Ms. Truong Thi Ngoc Anh then took the stage to share her journey in Brand Management at P&G, with three key lessons. First, marketers need to understand the audience (WHO), their tensions and aspirations. Second, they must find out how to design solutions (WHAT) that help them relieve these tensions and improve life quality and finally, to create a WOW factor that pleases the audience through the combination of various factors (product, pricing, promotion, etc.).
Lastly, Mr. Huynh Kim Phong shared his experience in marketing research at Millward Brown. According to him, marketers have to zoom in customers’ needs through information tracking and analysis, whose results will be used to help brands build better products. In order to succeed in this area, in addition to possessing traits such as being inquisitive, objective, structured, etc, marketers also need to cultivate their knowledge through readings, discussions and sharing with colleagues.
The panel discussion concluded the talk with burning questions from the audiences. Many were eager to explore further opportunities in the field, while some raised some common marketing challenges.