Practices for Enhancing Your Small Retail Business

Module 6: Experiential Marketing

मॉड्यूल 6 के हिंदी अनुवाद के लिए यहाँ क्लिक करें

To become familiar with experiential marketing, including its benefits, central features, impact, and 4E strategies. Application of consumer impact goals of experiential marketing to the operator’s business practices.

MODULE GOAL

Ann Marie Fiore, ISU

Linda Niehm, ISU

Sushil Raturi, NIFT-Mumbai

FACULTY WHO DEVELOPED THIS MODULE

Module Description

The module begins with the difference between traditional marketing and experiential marketing. An explanation of the benefits provided to consumers or needs met via experiential marketing is given. Examples of experiential marketing and what they have in common are explained. The impact on, prevalence of, and competitive advantage of experiential marketing for businesses and/or consumers provide justification for incorporating experiential marketing. The six key features of successful experiential marketing are outlined and are related to a major brand’s experiential marketing campaign:

Multi-sensory (e.g., sight, smell, sound) experiences
Repetition of brand elements
Customers physically interact with the brand
Customers (and brand) learn something new or unexpected
Personally connected and relevant to the customer
Emotionally arousing.

The six features can be summarized as “dazzling senses, touching hearts, and stimulating minds” (Lenderman, 2007). The module continues with an introduction to Pine and Gilmore’s (2011) 4Es, which are located in relationship to two axes: active — passive involvement and absorption — immersion. The 4Es are entertainment, educational, esthetic, and escapist experiences. Definitions and examples of each are provided. The module continues with an introduction to consumer impact goals of experiential marketing to be considered when setting up an experiential marketing event. The module closes with an exercise and tips for small business operators when developing plans for experiential marketing venues.

Resources

Cho, E., Fiore, A.M. & Russell, D.W. (2015). Validation of a fashion brand image scale capturing cognitive, sensory, and affective associations: Testing its role in an extended brand equity model. Psychology and Marketing, 32(1), 28-48. Eggers, F., O’Dwyer, M.,
Kraus, S., Vallaster, C., & Güldenberg, S. (2013). The impact of brand authenticity on brand trust and SME growth: A CEO perspective. Journal of World Business, 48(3), 340-348.
Fiore, A. M. (2007). The shopping experience. In Schifferstein, H. N. J. & Hekkert, P. (Eds.), Product Experience (p. 629-648). Amsterdam: Elsevier Press.
Lamba, B. & Raheja, S. (2014). Rural India: Innovative marketing strategies. International Journal of Marketing and Technology, 4(5), 110-117.
Lenderman, M. (2007), Experience the Message: How experiential marketing is changing the brand world. New York, NY: Carroll and Graf Publishers.
McNickel, D. (2004). Hands on brands: feel them. Do them. Be them (Cover story: experiential marketing). New Zealand Marketing Magazine. Retrieved from https://business.highbeam.com/6504/article-1G1-117182235/hands-brands-feel-themdo-them-them
Padney, S. & Darji, P. (2011). Indian consumers and experiential marketing - The retail way. PRIMA: Practices and Research in Marketing, 1(2), 27-32.
Pine, B. J., & Gilmore, J. H. (2008). The eight principles of strategic authenticity. Strategy & Leadership, 36(3), 35-40.
Schmitt, B.H. (2011). Experiential marketing: How to get customers to sense, feel, think, act, and relate to your company and brands. New York, NY: Free Press.
Stallard, S. (2017, January). 17 Experiential Marketing Stats for 2017. Pop2Life. Retrieved from http://blog.pop2life.com/blog/17-experiential-marketing-stats-for-2017.
Tripathi, A. K. (2012, December). Rural marketing in India—Challenges, opportunities, and strategies. Voice of Research, 1(3), 42-45.
Warnaby, G., Kharakhorkina, V., Shi, C. & Corniani, M. (2015). Pop-up retailing: Integrating objectives and activity stereotypes. Journal of Global Fashion Marketing, 6(4), 303-316.