The Concept of Events and Experiences in Modern Marketing

825 Words3 Pages
Marketing Communication Events and Experiences The Concept of Events and Experiences in Modern Marketing In principle, the event-based and experiential marketing of consumer products and services is based on the fundamental distinction between consumption and experience. 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
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