Recently Gmark hosted its first annual “Brand Management in Chicago” at the Innovation Center on campus. The panel consisted of 8 professionals representing a broad array of companies within the consumer goods industry. Conversations were moderated by UIC’s very own Professor Jelena Spanjol leading to a night of intriguing topics and current events surrounding the marketing industry. The night was kicked off with appetizers and wine as a social atmosphere was set. The most intriguing portion of the night for me was centered on the aspect of social media. Each panelist touched on the issue of effectively reaching consumers. While newspapers, commercials and print have typically been the traditional ways of reaching consumers, the industry has seen immense changes with the presence of social media. Products like TIVO and online subscriptions have limited the ability to reach consumers requiring new mediums to be pursued. While social media is now the up and coming medium, there are many issues surrounding advertising in the digital world. ROI is not easily assessed making it difficult to persuade top level executives to increase the overall marketing budget to allocate additional capital towards social media. However while the digital world provides many unknowns, it is clear that traditional marketing is losing the ability to connect with target consumers.
Overall the event was a great night for faculty, students and marketing professionals to engage in a marketing dialogue leaving them with better understanding of the challenges that companies face today. I know I walked away from the panel feeling motivated that not only has UIC provided me with a great marketing foundation but that school’s message of“ Where theory meets practice” holds true.
Check out the GMARK Brand Management Panel Photos by Nick Tornabene:
Liautaud Student Organization, Marketing, MBA