BED-2117 The experience economy and social media marketing - 15 ECTS
The Experience Economy (10 ECTS credits):
- Experiences: definitions, examples
- Authenticity: pros and cons
- Perspectives on quality tourism experiences, social construction of experiences
- Marketing in the experience economy
Social Media Marketing (5 ECTS credits)
- The characteristics of social media
- The contexts of online relationships
- Consumers decision-making and decision-making conflict
- Social influence scoring models
- Influence models
- Influence marketing efforts
- Social media metrics
This course consists of two modules. While the first module offers the student knowledge and skills of value in the experience economy (10 ECTS credits), the second module takes an in-depth look at social networks, social media platforms and new perspectives on influence marketing (5 ECTS credits).
Consumers are increasingly more engaged in experiences, people search for experiences as part of their daily lives as well as when on travel. Module 1 (the experience economy) addresses this change in society by recognizing experiences as an economic offering that is the essence of what consumers want and as giving potential to future economic growth. Experiences are crucial in tourism and in marketing but also relates to nature, goods, sports activities or culture. Co ¿creation of experiences is essential, where the provider, consumer and the setting together are part of forming the experience. Creating value in the experience is also a central aspect of what this course is about. Having finished this module, the students will have an historic overview of the economic shifts from the Industrial Economy to the Service Economy and lately from the Service Economy to the Experience Economy. Students should also have knowledge about the lifestyle, identity, values and culture of the final users, and understand which commercial, cultural and emotional values are important in creating experiences. The students should know how to encourage customer engagement and participation in the experience development, and have an insight into the effective competitive business and marketing strategies in the era of the experience economy.
Businesses worldwide also face a fundamental change in the ways that consumers interact with each other, and consumers now have a louder voice than they used to. Their attitudes and recommendations give them considerable power over marketers and brands, and organizations therefore need to pay attention to their influence. Module 2 (social media marketing) will equip students with the relevant knowledge and perspectives to understand whom the key influencers online are, and how organizations can manage the influence paths that lead consumers to buy. It offers an overview of how marketing has (and has not) changed due to the rise of social media, and emphasizes consumer' social interactions, the role of influencers, and how to identify and leverage influencers in social media marketing.
There will be a compulsory group work consisting of a written part and an oral presentation in class. The assignment must be approved before the students qualify for the exam.
A 4-hour individual written school exam. The exam is graded by one internal examiner and one external examiner using a grading system ranging from A-F, where F is failure to pass the exam.
It is given the opportunity to re-sit the exam for the students who do not pass last regular arranged examination.
The exam will take place at Campus Harstad.
The Experience Economy:
Pine, B. J., & Gilmore, J. H. (2011). The Experience Economy. Boston, Massachusetts: Harvard Business Review Press.
Additional articles will be announced after the program start
Social Media Marketing:
Ryan, D. (2015). Understanding Social Media: How to create a plan for your business that works. London: Kogan Page (ISBN: 978-0-7494-7356-3)
Ofek, E.& Wagonfeld, A.B. (2012). Sephora Direct: Investing in Social Media, Video and Mobile. Boston, Massachusetts: Harvard Business School
Additional articles will be announced after the program start.