Flashcards
Marketing Final 2016
Cards in this deck (37)
- 1Marketing Analysis What are the 5Cs?- Customers
- Company
- Competitors
- Collaborators
- Context - 2What is the process for Value Proposition?Segmentation -> Targeting -> Positioning
- 3Value Proposition is what part of the Marketing Process?Create
- 4Value Process is also known asBrand
- 5The 5Cs are part ofMarket Analysis
- 6Market Analysis is which part of the Market ProcessIdentify
- 7The 4PsProduct/Service
Place/Channel
Promotion
Price - 84Ps are what part of Marketing ProcessMarketing Mix/ Deliver/Capture
- 9EVC stands foreconomic value to customer
- 10Examples of market benefits to customers???
- 11How to measure customers- demand analysis
- needs (conjoint analysis)
- DMP (Funnel analysis) - 12Strategic marketing planlays out firm's target markets and value propositions, based on the best market opportunities
- 13tactical marketing planspecific the marketing tactics, including product features, promotion, pricing, and service
- 14Marketing Process - Summary- analyze marketing opportunities (5Cs)
- select target markets (STP)
- design marketing strategies (STP)
- develop marketing programs (4Ps)
- implement and manage the marketing effort (4Ps) - 15What is brand equity?- the additional long-term revenues from sales of products under the brand. compare to revenues from selling exact same no-name products.
- the value is stored in consumer perceptions
- depends on context
- psychological factors
- changes in equity can la behind action - 16Brand value comes from- greater willingness to try
-greater likelihood that the product is purchased
- willingness to pay a price premium
- less sensitive to price increases
- less inducement to try a competitive offer - 17STP: SegmentationMap out the world
- why segment the market?
- how to segment the market? - 18STP: TargetingSelect portion(s) of the map to go after
- how to pick?
- what criteria to use? - 19STP: PositioningPlace our brand on the map
- how to map perceptions?
- positioning strategies?
- how to write a positioning statement? - 20Evaluating Segmentation- measurable: size, purchasing power
- substantial: some must be large
- accessible: some can be effect served
- actionable: must be able to attract and serve segments
- differential response: segments respond differently to different marketing mix - 21target marketing selectionmust look at 2 main factors:
1) segment's overall attractiveness
2) company's objectives and resouces - 22Positioning statementFor _______________, (Target audience) ____________ (Product/Brand name)
is ________________
(Points of difference/benefits)
because__________________.
(Reason to believe) - 23CPMcost per mille - cost per 1,000 impressions
- 24CPCcosts per click
- 25cannibalization ratethe rate at which your new product cannibalizes the old one
- 26Break even cannibalization ratethe largest cannibalization rate at which you can still make money. Basically an upper bound. If you have a higher BCR, you have a higher threshold. Calculate by dividing the new and old margins. If new margin is half of the old one, you have to sell twice as many to break even
- 27Vertical positioningOne firm at high end, one firm at low end
- Well defined objective quality benefit where more of is better
-Consumers differ in willingness to pay for quality improvement
-Segmentation based on tradeoff between quality and willingness to pay - 28Horizontal positioning- one firm offers attribute A, one firm offers attribute B
- More is not necessarily better for
everyone
-Heterogeneity in tastes, attitudes - 29Promotion: 6Ms- Mission - consumer decision making process
- Market - target selection
- Message - utilitarian vs hedonic vs low involvement
- Media: ad spending, online vs tv
- Money: setting the budget
- Measurement: A reliable method: experiments (A/B testing) - 30Utilitarian messageRational evaluation of alternatives: trade offs Choice heuristic: ‘Buy the Best’
- 31Hedonic/Emotional MessageEmotional evaluation: feelings
Choice heuristic: ‘Buy What I Like’ - 32Low InvolvementNo evaluation of alternatives: confirmation Choice heuristic: ‘Buy the Familiar’; ‘Buy the
Cheapest’ - 33PlaceChannel Conflicts: Manufacturer vs Retailer A, B, and C
- Manufacturer -> Intermediary (Retailer, Wholesaler etc) -> Consumer market - 34PricePrice ceiling vs price floor
- value based price vs cost based price - 35Digital Marketing and Social Media Marketing: Paidprint, TV, radio, magazines, film, outdoor, banners, direct mail, SEM/paid search, in store media
--> directed at strangers - 36Digital Marketing and Social Media Marketing: Ownedbrochure, retail stores, company website, microsite, community, facebook fanpage, mobile apps
Directed at: customers - 37Digital Marketing and Social Media Marketing: Earnedword of mouth, facebook, twitter, digg, youtube, flickr, blogs, forums
directed at: fans
Information
- Description
- Flashcards on Marketing Final 2016, created by Tess Peppers on 10/12/2016.
- Created by
- Tess Peppers
- Views
- 0
- Rating