Principles of Marketing Text by Cengage's Southwestern Publishing
The American standard song, “Getting to Know You” wisely says:
It’s a very ancient saying,
But a true and honest thought,
That if you become a teacher,
By your pupils you’ll be taught.
As a teacher I’ve been learning –
You’ll forgive me if I boast –
And I’ve now become an expert,
On the subject I like most.
Getting to know you.
Over eight years of teaching Principles Marketing to sophomores at University of Notre Dame, these words have proven their wisdom.
Early on, I realized students today are not younger versions of my 1974-self. I cringe now to think of the mistakes I made. My approach was Powerpoint-heavy and textbook-focused. I treated them like corporate executives at an off-site seminar. Students were bored. I was frustrated. My class evaluations were humbling. Actually, that is an understatement. I was flattened for days after I read my first student evaluations.
How things have changed! Over the past 8 years, my teaching approach has become increasingly “Millennial-friendly”.
I still have a lot to learn but three weeks into what is charmingly referred to as “Spring Semester” at Notre Dame (Jan-May), I am tentatively thinking to myself, ‘By George, I think she’s got it!’ Here are some of the principles that are making Principles of Marketing a joy for both me and the students. (Below I’ll tell you how I think they apply to Marketing to Millennials.)
1. The right text.
Millennials are visually literate. It’s not just about the words, it’s about the way the words LOOK on the page. A poor, uninviting design is a turnoff, regardless of how inspired the content. This year I am using a text from Cengage Learning’s Southwest Publishing Group. This Principles of Marketing text is the best I’ve used yet for one reason: the students actually will read it.
The book is softcover, costs just $55 (including online resources), and is colorful and graphic. It looks like a magazine. Yet the content has not been compromised, just condensed. Extra material has been moved online. There are flash cards, practice quizzes, cases and podcasts online as well. The text is not the only content, just a starting point.
2. Bite-sized learning.
In the past, my syllabus outlined two exams and a semester-long project, each about one fourth to a third of the total grade. Now I know better; Millennials need more frequent assignments and feedback to keep them focused.There is a lot of competition for their attention. Like the rest of us, they sometimes have trouble managing their time.
Weekly case assignments, environmental scans, frequent quizzes, and tests help to keep them on track. No assignment or test is more than 10% of their grade. I even build in extra credit and ‘bye’ weeks. This contributes to continous, rather than sporadic learning, and helps me keep a pulse on what’s working.
3. Participatory Class Time
The worst criticism I heard was that ‘class time was a waste of time, just read the book’. In an era when the best college lectures are often available online and in podcasts, professors have to work very hard to make class time matter. I ask myself when preparing for each class, ‘what can be uniquely delivered in person that can’t be provided any other way’? The answer is interaction.
Nearly every 75-minute class includes break out time and heavy doses of discussion. Four entire class periods are devoted to student reports. Getting sophomores to talk isn’t always easy – they prefer to remain quiet. But weekly homework ensures they have something of value to share and ups participation.
4. Multi-media.
At Notre Dame, we are blessed with high-tech enabled classrooms and courseware. I incorporate DVD video material and Youtube videos into each class session. We maintain a class blog and make use of a protected class web site. A library investigation project familiarizes students with the wealth of ‘non-Google-able’ material available through the library databases. Students are encouraged to use web-based team collaboration tools to complete their group assignments.
5. Relevance
Students need to see that what they are doing relates to their ‘real lives’. I work to incorporate discussions of real marketing dilemmas and innovations. Already we have discussed the Pepsi Refresh project, iPad, Microsoft, MTV, Cirque Du Soleil, MTV, Netflix, SuperBowl XLIV, Method, McDonalds and more. I have invited a panel of former students who work at Target, LL Bean, IBM, Snapple and other brand marketing firms to form a panel discussion group later this semester.
Teaching and marketing have a lot in common. Marketers must understand your target, have clear objectives and strategies for engagement, and a measurable outcome. My insights about what works in the classroom can be translated to marketing:
1. The Right Text: Is your story text-heavy or is visual design a cornerstone of your marketing approach?
2. Bite-Sized Learning: Are you serving the right message at the right time? What are the key take-aways? What feedback can you provide?
3. Participatory: What mechanisms are in place to engage your audience in a conversation?
4. Multi-Media: Are you using all the channels available to get your message across?
5. Relevance: Is your message current? Does your Gen Y target see how it is applicable to their world?
Whether you target them in the classroom, social media or some other venue, it’s critical to tailor your approach to Gen Y’s unique ways of learning and processing information. Getting to know you definitely pays off.
DMW | Direct is a communications and marketing agency based in Pennsylvania. Their “Millennial Tsunami” (click for pdf) Insight Report on their web site is one of the most comprehensive and well-written I have seen. 1. The campaign leverages the idea that Gen Y is likely to find their parents’ advice credible when making a major decision like insurance.
“The spots were aimed not only at recruiting new health care subscribers, but at rebranding the health insurer’s name and image for a younger, hipper market. Leveraging the fact that many younger people today respect the opinions of their parents, the spot makes the point that this is “the coverage trusted by your mom and dad.” The insurer knows that this younger audience should recognize the name and corporate logo and — as a result of rebranding efforts — presents an opportunity to relate them to a more innovative and flexible health care option.”
2. The effort tailored the product offering to meet Millennials’ specific needs.
“To help this young, healthy market realize that health coverage is both needed and affordable, the plan offered was designed specifically to be low-priced (about $66 per month) and to focus heavily on alternative medicine such as yoga, massage therapy, and acupuncture.”
3. The campaign spoke in a relevant voice that didn’t sound like Gen Y’s parents’ old fashioned insurance company.
“The language was carefully targeted to appeal to a younger audience; for instance, the monthly premium was compared to the price of concert tickets, and the word “bucks” was used instead of “dollars.” This carefully tailored offer naturally appeals to a younger audience, and alternative medicine can result in cost savings for the insurer — a win-win situation.”
4. The campaign leveraged visual cues and media appropriate to a younger, web-savvy target audience.
“The Blue’s Web address is prominent in the spot. To appeal to the younger prospect, too, the commercial strays from traditional Blue Cross Blue Shield formats. The music is upbeat with a Seinfeldlike tune, and the camera cuts are quick and frequent. The ultimate message is to call or visit the Website for additional information — a basic, but effective, lead generation effort. As is true in using television or free-standing inserts to target an older audience, targeting a younger group requires continual testing to determine a control position. The goal of using a broad-reaching medium is to have younger prospects cost-effectively self-select. Using this approach, it is possible to reach and influence a younger prospect for your product or service where leads have been traditionally difficult to reach.”
The results? This campaign is credited with growing Blue Cross Blue Shield’s subscriber base by 15 percent.
The case concludes that “Millennials are just beginning to make their mark. The case concludes with this advice: “Gaining a foothold in the Millennial market is not only smart business in the short term, it is a strategy that will hold a company in good stead as the lifetime value of these young consumers grows over the decades.”
There was an interesting discussion in my undergraduate marketing class today. A student was presenting a paper on Quiznos, when she admitted she actually has never visited one herself. When I queried the rest of the class, they unanimously agreed they prefer Panera Bread and Chipotle to other ‘fast food’ restaurants.
Within the restaurant industry, Panera and Chipotle are not strictly considered ‘fast food. They are part of a segment known as ‘fast casual’. They have some aspects of casual dining — the food is ordered and made just for you while you wait — but there is no table service (or tips). New research from Mintel confirms my students are part of an overall trend among young adults away from quick service. The fast casual segment is outperforming the restaurant industry as a whole and is poised for even more growth. Within this segment, Panera and Chipotle are the category leaders. Both are especially strong among adults 18-34.
In contrast, The Wall Street Journal reported today that Burger King is about to report two straight quarters of same-store sales declines as a result of both changing eating habits and the recession’s impact on young adult spending, BK’s core users. While McDonald’s has not fared as badly as BK due to its broader customer base, other young adult-dependent burger chains, such as Hardy’s and Carl’s Jr, have experienced similar declines.
Research confirms young adults are indeed eating less often at fast food chains in favor of fast casual restaurants.
The Journal reports market-research firm Sandelman & Associates data showing that, on average, 18- to 34-year-olds went to fast-food chains about 13 times per month from January to September 2009, down from almost 19 times per month in 2006. According to market research firm NPD, people 18 to 34 cut their consumption of fast-food meals from November 2006 to November 2009 while increasing the number of meals they ate at fast-casual chains.
The overall perception of fast casual as offering fresher, healthier fare appears to be driving at least some of the trading up. NPD’s Bonnie Rigg’s says “young people are looking for healthier options, or at least what they perceive as healthier options.”
“Jason Carpenter, 24, of Tinley Park, Ill., says he used to visit burger chains a few times a week until early last year. “I realized it was pointless to do all this exercising and then go and eat all these burgers,” says the benefits programmer for a consulting company. Now he cooks at home more, and when he does go out, he favors sandwich shops or fast-casual chains that he says offer healthier food. “On occasion, I’ll hit Wendy’s or McDonald’s,” he says, “but I try to stick with Subway or Panera.”
