Marketing & Social Media
FHNW- BITMr. Flad
FHNW- BITMr. Flad
Kartei Details
| Karten | 402 |
|---|---|
| Sprache | English |
| Kategorie | Marketing |
| Stufe | Universität |
| Erstellt / Aktualisiert | 15.09.2020 / 23.11.2024 |
| Weblink |
https://card2brain.ch/box/20200915_marketing_social_media
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| Einbinden |
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How would you define marketing?
"Marketing is the performance of business activities that direct the flow of goods and services from producers to consumers."
"Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return"
"Marketing is the process of planning and execution the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual and organizational objectives."
What are the goals of marketing?
"marketing is to find out what people like and do more of it. Marketing is to find out what people don't like and do less of it."
Why do we need marketing?
The Consumer needs something and the suppliers provides goods and services- so marketing gives the information of the supplier to the consumer and the consumer gives money to the supplier.
Old times the consumers needs were only provided by one supplier. It was a simple decision making. The supplier market decided (shortage society) Today it is different, consumer demand marked (affluent society) consumers have multiple suppliers to choose from and make a complex decision about goods and services and where to buy it.
What is the principal of reward? Which rewards exist for the market partners?
Consumer: convenience fllfilled, happy, phychological relieve, accessability
Supplier: Revenue provitability, new customer, loyalty, dominance in area
What is the principal of capacity? Which resources do the market partners need?
Consumers: space, capital, human resource
Supplier: human resource, capital, suppliers, good decision making, smart invesments
What was the marketing evolution from the 1950ies to 2000s?
1950 Production orientation (sellers market) produce as much as you can
1960 Sales orientation (increasing competition, saturation) sell as much as you can
1970 Marketing orientation (buyers market) produce what you can sell
1980 Competitive orientation. How do we differentiate ourselves from competition?
1990 Environmental orientation , how do we recognize relevant trends and react effectively?
2000 Network orientation, how do we interact in networks and with customers and other market partners?
What are factors impacting marketing?
- Customer collaboarion and influence
- Growth of channel and device choices
- Social media
- Roi accountability
- Decreasing brand loyalty
- Data explosion
- Shifting consumer demographics
- Regulatory considerations
- Growth market oppotunities
- Financial constraints
- Corporate transparency
- Privacy considerations
- Global outsourcing
Sorte the factors that impact marketing by impact.
- Privacy considerations
- Shifting consumer demographics
- Social media
- Roi accountability
- Corporate transparency
- Global outsourcing
- Customer collaboarion and influence
- Regulatory considerations
- Data explosion
- Growth of channel and device choices
- Decreasing brand loyalty
- Growth market oppotunities
- Financial constraints
- 67% Customer collaboarion and influence
- 61% Growth of channel and device choices
- 57% Social media
- 45% ROI accountability
- 42% Decreasing brand loyalty
- 39% Data explosion
- 37% Shifting consumer demographics
- 33% Regulatory considerations
- 31% Growth market oppotunities
- 30% Financial constraints
- 21% Corporate transparency
- 10% Privacy considerations
- 9% Global outsourcing
Identifiy unerlying needs of tesla in the upside down maslow pyramid.
Self actualization, esteem, social, safety, transportation
What is market oriented management
It takes customer orientation plus competitor orientation and equals the building up, extensions and conservation of competitive advantages of a corporation. Marketing is market-oriented and market-driven business management and decision making.
Draft a marketplace and customer needs and the role of marketing
What is marketing as a dual management concept ?
Compare the old view of organizations to the new way of organisations
What is a seamless hospitality organization drawing?
What is maslow's hierarchy of needs?
Define: Need, Want and Demand
Need- a state of feld deprivation of some basic satisfaction e.g. food, clothing ,safety, belonging. Needs Are states of feld deprivation
want- desire for specific satisfiers of these needs. E.g.g burger, mercedes benz, and LV Bag etc. different for different socio-cultural structures. Wants Are the form human needs take as they are shaped by culture and individual personality.
demand- wants backed by ability and willingness to buy. E.g. * of people who want a Merc and can buy it. Demands Are human wants that are backed by buying power
What are Market offerings and marketing myopia?
Market offerings are some combination of products, services, information, or experiences offered to a market to satisfy a need or want.
Marketing myopia is focusing only on existing wants and losing sight of unerlying consumer needs.
What does marketing actions try to create?
Exchange is the act of obtaining a desired object from someone by offering something in return. Marketing actions try to create, maintain, and grow desirable exchange relationships.
What is a market?
A market is set of actual and potential buyers. Consumers market when they: - search for products.
- interact with companies to obtain information
Make purchases
What questions do you need to ask when designing a customer value -driven marketing strategy?
Marketing management is the art and science of choosing target markets and builing profitable realtionships with them.
- what customers will we serve (target market)?
How can we best serve these customers (value proposition)?
A brand's value proposition is the set of benefits or values it promises to deliver to customers to satisfy theri needs.
Name some characteristics of marketing
marketing is the combination of:
- market segmentation
- behavioral orientation
- marketing-mix
- middle to long-term orientation
- branding
- innovation
- market research
- customer orientation
What are the building bloks of developing a marketing concept?
What is an information analysis of Macroenvironment with the PESTEL-Framework
What do you need to analyse when you look for trends in the macroenvironment?.
environment= political, ecological, economic, technological
You need to analyze, social development, megatrends, demand trends, opportunities /threats
What does PESTEL mean?
Political
Economic
Social
Technological
Enviromental
----
Legal
What are the forces in a company's macroenviroment?
Policical and social environment
ecological environment
economic environment
technological environment
Describe the macroenvironment forces of politial and social environment
- Political stability
- Legislation
- Cultural values
- Social problems
- Changing age and family structures
- Geographic population shifts
- Population diversity
- Educational characteristics
- Ecological oreintation
Describe the macroenvironment forces of ecological environment
- Shortages of raw materials
- Increase pollution
- Agricultural potential
- Topography
- Climate change
- Risk of natural disasters
- Increased foverment interventions
Describe the macroenvironment forces of economic environment
- Changes in income and spending
- Consumer spending patterns
- Inflation rates
- Rates of interest
- Sasving rates
- Unemployment
- Availability of infrastructure
- Income distribution
Describe the macroenvironment forces of technological environment
- Product innovation
- Process innovation
- Convergence of technologies
- Internet of things
- Big data
- Biotechnology
- Nanotechnology
What types of trends are there? Draw a graph with familarity and time
What are examples of megatrends in the macroenvironment
- New technologies
- Social and economic liberalization
- Individualization and search for identityincreasing diversity and polarization of society
- Demographic change and ageing of western industrial nations
- Climate change and scarcity of natural resources
- Multi-optionalization
What are the importat steps to analyzing a company's macroenvironment with the PESTEL-Framework?
- Understand PESTE Factors.
- Identify the major trends in the firm's Political, Economic, Socia-cultural, Technological and Ecological environment
- Identify opportunities and Threats
- Describe how these environmental forces might positively or negatively affect the company's ability to serve ist customers
- Take action
- Define measrues that allow marketers to take advantage of new opportunities as well as to combat threats.
What is Porter's Five Forces Model of Competition?
What is importatn to understand in an industry analysis and a competition analysis?
Industry Analysis (demand view)
Understand the structure of competition and the power of marketplace
Competition Analysis (product view) understand the product and services of relevant signle direct competitors
What is the bargaining power of buyers in the five forces model?
A buyer group is powerful if
- there are few buyers
- it purchases large volumes relative to seller sales
- the industry’s products are standardized or undifferentiated
- buyers face few switching costs in changing vendors
- it is price sensitive
- buyers can credibly threaten to integrate backward
- the industry’s product is unimportant to the quality of the buyer’s product or services
What is the bargaining power of suppliersin the five forces model?
A supplier group is powerful if
- it is dominated by a few companies
- it is more concentrated than the industry it sells to
- the industry is not an important customer of the supplier group
- its product is an important input to the buyer’s business
- there is no substitute for what the supplier group provides
- suppliers offer products that are differentiated
- it has built up switching costs for the buyer
- the supplier group can credibly threaten to integrate forward into the industry
Describe the rivalry among existing firms in the five forces model
The intensity of rivalry is greatest if:
- competitors are numerous or roughly equal in size and power
- industry growth is slow
- exit barriers are high
- fixed costs are high
- capacity must be expanded in large increments to be efficient ] risk of overcapacity
- the product is perishable
- products or services are nearly identical and there are few switching costs for buyers
Describe the threat of new entrants in the five forces model
High entry barriers lead to low threat of new entries
- Economies of scale
- Product differentiation
- Capital requirements
- Customer switching costs
- Unequal access to distribution channels
- Restrictive government policy
- Cost disadvantages independent of scale
Describe the threat of substitutes in the five forces model
The threat of a substitute is high if
- it offers an attractive price-performance trade-off to the industry’s product.
- the buyer’s cost of switching to the substitute is low.
