Marketing Experimentation

It is one of the buzzwords, that are being used to describe marketing techniques designed to test a consumer market segment with new branding, products, or services before launching a more widespread campaign plan. And social networking is the current means to do that testing or market experimentation because of its immediacy of results- both success and acceptance or failure in message and approach.

The last few years have been difficult financially for a large portion of consumers, therefore, before buying anything considered as a discretionary or even a necessary purchase, many are looking for, not only the best price possible but also value for the money spent. So in turn companies have also had to meet the challenge by using all the tried and true media marketing channels, along with a large dose of social media marketing.

Some companies have, unfortunately, succumbed to the economic downturn and for survivors it has been the opportunity to capture a greater market share. With this shift in economics, marketers have also had to make some significant changes in product lines, improved customer relationship management, and how to convey this message to their customers. Social networking has proved its worth in sharing word-of-mouth testimonials that generates overall brand trust and loyalty.

Consumers are empowered like never before with endless avenues to research not only purchases but the reputation of a company. Many people want to know where the products they are buying are sourced and if the products they buy are supporting quality of life for the people and lands they come from. Online technologies allow marketers to broadcast their good works and helps them find customers and stay in touch with them over long periods of time. Nevertheless, social media tools represent just part of the new tool set. Advances in advertising are increasing relevancy and improving purchasing power, while analytical developments allow marketers to measure success like never before.