Peer Review

The digital consumer and the rise of a new paradigm for marketing

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Reviewed:: Nov 12, 2018 by Business

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Ratings

Overall Rating:

Content Quality:

Effectiveness:

Ease of Use:

Overview:

Don Tapscott is the CEO of the Tapscott Group.

The material is a three-minute video. The focus is on digital and the first-generation digital natives as consumers. The author suggests the 4Ps is obsolete and replaced by ABCDE. Place is replaced by anyplace (A) Brands (B) can build longer-lasting relationships. Traditional promotion still exists, but now we want to engage and collaborate © with consumers. Consumers are now prosumers, for example, Doritos had its consumers design its Super Bowl ad. Think of customers as “inside your business network.” Price is replaced by discovery (D), where price is not dictated by sellers. Consumers have power and knowledge and use it to influence price. Product is replaced by experience (E).

Type of Material:

Presentation

Recommended Uses:

Due to the short length of this video, about 3 1/2 minutes, this would serve as a lecture launcher, or as part of a discussion on the 4 P's.

This could be used in-class as a introduction for class discussion. It could also be used as a homework assignment.

Technical Requirements:

Browser must be compatible with Youtube video format

Identify Major Learning Goals:

Learning goals are not specifically identified, but it is implied that the objective is to help marketers understand the marketing mix from a new paradigm. The speaker makes the case that the original 4P's no longer apply.

Identify the changes in today's consumer's perspective of marketing.

To discuss and review the changes marketers must addres with today's consumer.

To identify how the traditional 4Ps of marketing must be adapted to the current business environment.

Target Student Population:

College Upper Division, Graduate School

Prerequisite Knowledge or Skills:

A basic understanding of the traditional 4Ps of marketing.

Content Quality

Rating:

Strengths:

The students can read about the 4 P's in their book and then be asked to think about how those Ps might be different based on today's digital consumers. Rather than the 4 P's, the speaker proposes an ABCDE paradigm. He also discusses "prosumers" where the consumers are also producers of advertising in social media, using Doritos as an example.

This is a nice, short, and self-contained video. It covers the traditional 4Ps perspective of marketing, and how today's environment and consumers have changed.

The video was well shot, but the content is very limited.

Concerns:

Digital consumers come in all ages, but the focus is on "digital natives" or the consumers who were born with technology. It may be hard for the younger generation to imagine what marketing was like before the internet in order to make comparisons. The instructor may need to help the younger students visualize the world of marketing pre-internet. It would have been nice if the video ended on a strong point, or a question for further thought.

There are no learning objectives or learning activties associated with the video, so instructors must develop the necessary background and support materials to use the video effectively.

Potential Effectiveness as a Teaching Tool

Rating:

Strengths:

This is a nice quality video. Furthermore, the length about 3.5 minutes makes the application and use versatile.

The speaker is from a reputable company so he is credible.

Could be used as a supplement for a discussion question (traditional classroom and online).

Concerns:

As just the video, there is no supporting documentation for instructors; this will need to be instructor-developed.

The speaker challenges the original notion of the 4 Ps. He makes some broad based generalizations that consumers no longer want products, but rather experiences. There is some truth to that, but not all products involve an experience and provide great functionality, for example, a door knob.

Ease of Use for Both Students and Faculty

Rating:

Strengths:

The content is "bite sized" which is appealing today's students with shorter attention spans. The content can be viewed on any electronic device.

The video is clear and clean, works well and consistently.

Concerns:

I gave this section a 3 rating, simply because there are NO instructions for use.

Other Issues and Comments:: Instructors need to review the material before assigning it, or using it in class, so background and supporting information can be provided to students.
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