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CMMP Exam Study Guide - Certified Marketing Management Professional23 chapters | 146 lessons | 17 flashcard sets
Savannah has over eight years of hotel management experience and has a master's degree in leadership.
Technology and social media has made it easier for companies to market to their consumer in some ways. However, these marketing tactics lack the connection and interaction that makes a lasting impression on a consumer.
Think about how many advertisements you see when surfing the Internet, billboards when you are driving, and commercials when you are watching television. How many of those advertisements could you recall right now? Chances are you probably cannot recall very many due to the amount of advertisements and lack of interaction.
Experiential marketing is marketing strategy that engages the consumer and creates real-life experience that will be remembered. This type of marketing focuses on getting the consumer to experience the brand.
For example, Jim's company sells EnergyX energy drinks. In order to get consumers to experience the product, they go to sporting events with a bright-colored truck and outgoing sales reps that hand out free EnergyX to the consumers leaving a sporting event. They also hand out coupons in order to entice the consumer to purchase the product in the future. This type of marketing allows the consumer to directly try the product and builds an experience that they will not forget.
We will now look at why experiential marketing is important for companies. We'll also explore strategies and another example.
There are so many products and services out there that companies need to market in a way that will grab consumers' attention and stick in their minds. Experiential marketing provides a personal connection that allows consumers to remember the product or service. Experiential marketing is more than a billboard or advertisement. It appeals to the emotional side of the consumer.
Also, experiential marketing is typically a real-life event that the consumer can participate in. In the example of Jim's EnergyX, the consumer is able to experience the product. This type of marketing also appeals to the consumer on multiple levels and is very different from traditional marketing.
When Jim's team is handing out the energy drink, for example, the customer can see what it looks like, how it feels, and how it tastes. A commercial or billboard does not have this level of engagement. Lastly, consumers who experience a product or service are likely to share that experience on social media.
How can your company implement experiential marketing? Here are some strategies for using experiential marketing.
How many times have attended a festival and seen booths for companies? For example, sunscreen companies attend outdoor festivals and set up booths. They might have a wheel that consumers can spin and win different prizes, which happen to be the products the company sells. They might also include logo items, such as pens, lip balms, or trial sizes of sunscreen. This is a great example of making a connection with consumers and getting them to try the product.
Experiential marketing is a way for companies to have their brand stand out in a competitive marketplace. Strategies for experiential marketing include making marketing memorable, creating a personal connection, appealing to all senses and using technology. Additionally, experiential marketing should be a real-life experience that grabs the attention of consumers and makes them want to purchase the product or service as well as share their experiences.
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CMMP Exam Study Guide - Certified Marketing Management Professional23 chapters | 146 lessons | 17 flashcard sets