The Concept of Events and Experiences in Modern Marketing

825 Words Feb 7th, 2018 3 Pages
In that regard, consumption represents the value to the advertiser of providing prospective customers with the opportunity to try out (i.e. consume) their product first-hand, in which case the value of the marketing vehicle is measured one-dimensionally by the degree to which the consumer enjoys the product. By contrast, the events-and-experience approach to marketing provides an opportunity to exploit the so-called "Seven I's" of Involvement, Interaction, Immersion, Intensity, Individuality, Innovation, and Integrity in connection with the product. Generally, events-and-experience-based marketing would incorporate marketing events such as incentive or reward program (such as through product launches and exclusive open days); conferences providing product sampling in conjunction with publicity and branding messages; created events (such as road shows and press conferences); contests and competitions (including exhibition presentations and corporate entertainment vehicles); and trade show or charitable activities, such as fundraisers. Typically, benchmarking provides an empirical objective method of tracking the effectiveness of marketing efforts. Kudler will primarily employ the mechanism of…