A Tale of Two Word Videos

For his current effort (editor's note: is album the appropriate word here?), Weird Al Yankovic posted eight videos in eight days. Two of these posts covered word use, but only one seems to have resonated with viewers.

In Word Crimes, which uses Blurred Lines for its notes, Yankovic reviews several grammar mistakes. Stan Carey, among other bloggers, responded with criticisms of the grammar mistakes mentioned in the video. According to YouTube, the Word Crimes video has been seen 12.5 million times.

In Mission Statement, which probably uses a Crosby, Stills, and Nash song for its notes, Yankovic roughly sings a song comprised of nothing more than corporate jargon, clichés, and other nonsense. This song appears far more powerful in pointing out the ever-increasing amount of empty phrases included by, well, nearly everyone. This video, not surprisingly, has garnered only 712,000 views.

At least two explanations could exist for the disparity in views. One, copy editors, journalists, and writers are more likely on Twitter. These people pushed the video on other social media platforms. Nearly two weeks since Word Crimes was posted, the hashtag reached 91,075 unique Twitter accounts. This reach remains impressive. Conversely, Mission Statement lacked an associated hashtag.

Two, most people use at least one of those phrases derided and dismissed in Mission Statement. People, as a general rule, do not appreciate even gently teasing of their integration of corporate speak into general vocabulary.

It is too bad that Mission Statement failed to garner more views because it marks a more creative effort in terms of both words and image.

[embedplusvideo height="315" width="565" editlink="http://bit.ly/1pAF7oS" standard="http://www.youtube.com/v/GyV_UG60dD4?fs=1" vars="ytid=GyV_UG60dD4&width=565&height=315&start=&stop=&rs=w&hd=0&autoplay=0&react=1&chapters=¬es=" id="ep4294" /]

Mission Statement video

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Word Crimes video

Starting Careers in Retail

Despite the steady drumbeat of retail chains closing outlets, retail remains a growth segment. From this NRF blog post, retailers are trying several new approaches including:

  • Social media - LinkedIn remains a must for any job seeker including those looking for a career in retail. Also, retailers are posting openings on their respective LinkedIn pages.
  • blogs - Similarly, retailers post openings on their blogs.
  • Virtual career fairs - A new entry in the job hunt strategy. NRF hosted its first one in 2013 and plans to host a second one on Apr. 2.

Beyond this list, check retailer's websites. Also, learn what different positions require for each retailer. For example, a store manager at Target is a very different position than a store manager at Express.

Needed, Suggested Financials for Location Analysis Project

For the location analysis project, groups need to develop several financial measures. Some measures are required and some measures are good ideas to discuss.

  • Required
    • Discounted Cash Flow - Several YouTube videos and website exist on how to calculate and interpret discounted cash flow.
    • Traffic count - Many websites provide an explanation of how to conduct a count study for a Poisson distribution.
    • Pro Forma - A sensitivity analysis with optimistic, pessimistic, and realistic scenarios round out the financials associated with this project. The textbook offers some solid examples and discussion.
  • Good Ideas
    • The ratios from class on Mar. 10
    • The associated ratios from SPM

Through in-class examples and the House case, we have discussed and applied many financial aspects to retail management. Beyond course activities, websites and YouTube videos provide additional discussion, and applications.

More Pecha Kucka Examples

Besides looking through this blog for content related to Pecha Kuckas, students should look at these examplars. [embedplusvideo height="315" width="420" editlink="http://bit.ly/1fYdBjP" standard="http://www.youtube.com/v/jJ2yepIaAtE?fs=1" vars="ytid=jJ2yepIaAtE&width=420&height=315&start=&stop=&rs=w&hd=0&autoplay=0&react=1&chapters=¬es=" id="ep8916" /]

[embedplusvideo height="315" width="560" editlink="http://bit.ly/1fYdSmW" standard="http://www.youtube.com/v/u9P_FoLFKXw?fs=1" vars="ytid=u9P_FoLFKXw&width=560&height=315&start=&stop=&rs=w&hd=0&autoplay=0&react=1&chapters=¬es=" id="ep9180" /]

For a Twist on a Customer Acquisition Model

In several courses, I have introduced and discussed the idea of (a) a logic model, and (b) a twist on the attribution model. I am still working through this idea, but feel it is formed enough to warrant a post. The logic model offers a simple and graphical approach to showing behavior because the marketing manager can move the customer through a purchasing process where the outcome requires some sort of measurable value. These outcomes could include:

  • Purchase
  • Completing a form
  • Downloading an app
  • Reading a white paper
  • Watching a demonstration vidcast
  • Participating in a webinar

These outcomes should provide some measurable value. As to the exact value - except purchase - I am leaving for a different entry and discussion. For now, I am focusing on purchase.

A logic model requires probabilities of outcome behaviors, or customer actions. The probabilities can be developed from prior efforts. For example, to develop probabilities for a an email campaign logic model, the marketing manager should examine ratios, or probabilities, from previous email campaign. From the prior effort, the probabilities for opening the email, clicking the link to the website, and making the purchase could be determined.

Next, I add a layer of complexity to the logic model by incorporating only direct revenue and costs of the campaign. I attribute the campaign cost only to those customers who purchase as a result of the campaign. I treat the remaining amount of campaign cost as residual, or waste in a pejorative sense of the word.

I calculate a net marketing contribution for the campaign by subtracting cost of goods sold, or cost of merchandise sold, and the attributable campaign cost from the attributable sales revenue. With this figure, I can determine the marketing ROS and the marketing ROI, or ROMI, for this campaign. These figures are preferable because I am only considering the customers who purchased and not the customers who exhibited all behaviors except purchase.

At this point, the effort remains incomplete. Instead of an exact amount for purchase, a better model would use a confidence interval. Similarly, a better model would report a power value to determine the probability of a type II error would occur. Hence, the model could be testable. That is, a research or analyst could compare expected to actual with a t-value.

AF&B Vending Update

An updated version of the AF&B Vending case is available. The update includes changes in verbiage intended to improve the flow of the case, and is available by clicking on the "Assignment" link under the MKTG4100 heading in the right menu. The numbers remain unchanged.

Final Assignments Posted

The final assignments for all courses are available by clicking the "Assignment" link under the respective course headings in the right menu. Specific assignments include:

  • MKTG2000 - Reflection essay and extra credit assignment. Please note, that there are two extra credit assignments.
  • MKTG3650 - Extra credit assignment.
  • MKTG4100 - Reflection essay and extra credit assignment.

All assignments are due on Friday, May 18.

Finally, your instructor will send a survey link to your Otterbein email accounts. MKTG4100 students please look for the link around 5 p.m. on Wednesday, May 16. MKTG2000 students please look for the link around 1 p.m. on Thursday, May 17.

MKTG4100 Schedule Changes

We need to change a few things for the remainder of the course. Please update your calendar or planners. Quizzes

  • Mar. 19 - No quiz
  • Mar. 26 - Quiz 7: chapters 10 and 11
  • Apr. 2 - Quiz 8: chapters 12 (p. 434 - 458) and 13
  • Apr. 9 - Quiz 9: chapters 12 (p. 458 - 472) and 14

Simulation

  • Mar. 19 - Read your student simulation packet, which is available by clicking on the "Entrepreneur" link.
  • Mar. 28 - Entrepreneur student simulation quiz
  • Apr. 13 - Marketing plan for Entrepreneur due at 5 p.m.
  • Arp. 18 - Critical Incidence is cancelled.

Location Analysis Project

  • Mar. 28 - Bring three copies of your location analysis project to class.
  • Apr. 4 - Location analysis draft due to your instructor at 5 p.m.
  • Apr. 18 - Tim Horton's pecha kucka due. Only one (1) pecha kucka per group; not two as originally assigned.

Sample Needed

Each course is working on various projects and assignments that need primary data. Given that all of you need respondents for surveys, with your help, I am creating a sample panel (i.e., a group of people who agree to take part in data collection activities). To create this panel, you need to (a) send two to four respondents who are working adults and (b) agree to be a respondent as well. To be considered a working adult, a person must (a) be at least 18 years old and (b) work at least 20 hours a week outside the home.

Each response will be kept confidential. The instructor (Dr. Michael Levin) is the only person who can match respondents' identities to respondents' completed surveys.

Participation is strictly voluntary. However, your participation points are based on the number of surveys you complete as well as the number of surveys completed by your respondents.

Prior to submitting email addresses for two to four working adults, please get their consent to take part.

You and/or your furnished respondents will be asked to take part in at least three surveys during the Spring 12 term. Each survey will need 5 to 15 minutes of their time.

Two furnished respondents' emails will be considered average; three above average; and, four excellent.

Finally, please send your two to four emails by Feb. 22 at 5 p.m. by sending an email to your instructor with the subject line, "panel respondents." Thank you.