Marketing & Social Media
FHNW- BITMr. Flad
FHNW- BITMr. Flad
Fichier Détails
| Cartes-fiches | 402 |
|---|---|
| Langue | English |
| Catégorie | Marketing |
| Niveau | Université |
| Crée / Actualisé | 15.09.2020 / 23.11.2024 |
| Lien de web |
https://card2brain.ch/box/20200915_marketing_social_media
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What is Customer equity?
- Total combined customer lifetime values of all of the company’s current and potential customers !
- Helps to measure the future value of the company’s customer base !
- Increases when the loyalty of the firm’s profitable customers increases !
- Better measure of a firm’s performance than current sales or market share
What is partner relationship management?
Working closely with partners both inside and outside the company to jointly bring more value to customers
- Partners inside the firm - cross-functional teams
- Partners outside the firm - suppliers, channel partners
What do you know about customer-engagement marketing?
Customer-engagement marketing involves fostering direct and continuous customer involvement in shaping brand conversations, experiences, and community.
- Customer-managed relationships are important as customers are empowered and marketing is made a two-way affair.
- Reach customers directly, personally, and interactively.
- Greater consumer empowerment means that companies should rely on marketing by attraction.
- The key is to find ways to enter consumers’ conversations with engaging and relevant brand messages.
What do you know about customer-generated marketing?
Brand exchanges created by consumers
- Consumers play an increasing role in shaping their own brand experiences and those of other consumers.
Occurs through:
- Uninvited consumer-to-consumer exchanges
- Invitation of consumers by companies
- Asking for new product and service ideas
- Asking to play an active role in shaping ads
Customer-managed relationships are important as customers are empowered and marketing is made a two-way affair.
What are the summary forms of marketing
What are the important components of "from customer processes to tool strategy"
- Broadly defined, customer relationship management is the process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction.
- The actual purchase decision is part of a much larger buying process – starting with need recognition through how you feel after making the purchase. Therefore, marketers must focus on the entire buying process, not just the purchase decision.
- Companies want to not only acquire profitable customers but also build relationships that will keep them and grow the “share of wallet”.
- Customer-engagement marketing aims to make a brand a meaningful part of consumers’ conversations and lives through direct and continuous customer involvement in shaping brand conversations, experiences, and community.
- The digital age has created new ways to learn about and relate to individual customers. Online, social media, and mobile marketing offer new opportunities to target customers more selectively and engage them more deeply. The key is to blend the new digital approaches with traditional marketing to create a smoothly integrated marketing strategy and mix.
What is Marketing Mix?
Set of marketing tools the firm uses to implement its marketing strategy, Product, Price, Place, Promotion Each tool should be blended into a comprehensive integrated marketing program.
What are marketing tools of the marketing mix?
What are customer values of the marketing mix?
What questions do you need to be able to answer when setting a product strategy?
- What are the characteristics of products and how can they be classified?
- How can companies use packaging, labeling, warranties and guarantees as marketing tools?
- How can companies differentiate products?
- How can companies build and manage its product mix and product lines?
Concept of the product life cycle, marketing strategies at each stage
What do you need to know in the development process of a new product?
- Know how companies find and develop new product ideas
- Know the main stages in developing new products and how to best set up the new product development process
- Concept of diffusion and consumer adoption process for newly launched products
What do you need to understand when creating a branding strategy?
- What is a brand and how does branding work?
- What is brand equity?
- What kind of branding strategies exist?
Out of which goals does marketing-mix derive of?
Marketing mix is derived from the company's objectives and marketing strategy
Can you sketch a marketing-mix for market segment model which shows marketing opportunities as choices
What are products of the market mix?
- Physical goods
- Services
- Experiences
- Events
- Persons
- Places
- Properties
- Organizations
- Information
- Ideas
What is the difference between consumer and industrial products?
Consumer products are bought by final consumers for personal consumption. Industrial products are bought by individuals and organizations for further processing or for use in conducting a business.
– Materials and parts, capital items, and supplies and services
What are different types of consumer products. Describe the customer buying behaviour, price, distribution, promotion and give examples to each product type
Define Product
Anything offered to a market for attention, acquisition, use or consumption that might satisfy a need or want.
What are the difference Product Level of the customer value hierarchy by Armstrong, Kotler
In planning a market offering, the marketer needs to address all three product levels! Of Rayban sunglasses and outline the firm‘s three product levels for its product. Explain the three levels and show what they constitute. Why is this model important?
Core customer values
- Attractive Optic
- Sun protection
Actual product
- High quality materials
- Recognizable design
- Famous brand
- Exclusiveness
Augmented product
- Warranty: 2 years against crash
- Design / personalize / customize sunglasses (choose type, materials)
- Free shipping
- Easy returns
By what is packaging influenced?
Packaging has been influenced by
- self-service
- Consumer affluence
- Company/brand image
- Innovation opportunity
What are the different functions of packaging labels?
- Identifies
- Grades
- Describes
- Promotes
- Protects
- Transports
The packed product. Packaging is a differentiation tool
What product and service decisions need to be fallen?
- Individual product decisions
- Product attributes
- Branding
- Packaging
- Labeling
- Product support services
- Product line decision
- Product mix decisions (product assortment)
What is a product line decision?
- A product line is closely related products that:
- Have similar functions and customer groups
- Are sold through similar outlets or fall withing given price ranges
- Product line length is the number of items in the product line.
- Product line filling
- Product line stretching
What is a product mix decision?
Product mix decisions (product assortment)
- Product mix, portfolio, category, range, assortment = a group of diverse but related items that function in a compatible manner.
- A product mix has a certain:
- Breadth or width: number of product lines (e.g. unclever producing cooking oil, toilet soap, cosmetic, ice cream etc. )
- Length: total number of products in one product line
- Depth: number of variants of each product offered (stock keeping units)
- Consistency: relationship between different product lines regarding end use, production requirements, distribution channels, or some other
What is a product line extension?
A product line extension is the use of an established product brand name for a new item in the same product category.
Line Extensions occur when a company introduces additional items in the same product category under the same brand name such as new flavors, forms, colors, added ingredients, package sizes.
Sketch a mega-niche longtail model
What are the five-phases of the product life-cycle model
Draft the option-path in saturation stage
How do you show a graphic of performance gaps
Compare the old and the new way of changing view in the product line
What is included in the product portfolio?
The Product Portfolio:
- The complete collection of products marketed by a firm or business unit
Managing the Product Portfolio: The portfolio should be thought of and managed as an integrated whole, rather than as individual products.
The Firm must balance its portfolio across several dimensions:
- Old products versus new products
- Cash generation and cash use
- Growth and profit
- Short term and long term
Approaches to Portfolio Balancing:
- Financial analysis
- Portfolio analysis
How do you close performance gaps
Implications: To meet close performance gaps and attain performance objectives requires investment…and choices among investment alternatives
Choices: Which Products and Markets?
- Further market penetration
- New markets and segments
- New products
- New businesses
Key Question: Which opportunities do we target with which products? Key Problem: How to choose which opportunities to pursue and manage the product portfolio.
What are the steps of developing new products?
- Idea generation - to capture new ideas
- Idea distillation - to screen out those ideas not worth taking forward
- Concept definition - to consider specifications such as technical feasibility and market potential
- Strategic analysis - to ensure your ideas fit into your business' strategic plans
- Concept development- to create a prototype product or pilot service
- Test marketing- to ensure your product can be modified according to customer, manufacturer ad support organizations' feedback.
- Product launch - determine how to sell, promote and support your product
What are the functions of a brand?
What is a brand steering wheel?
What is a brand?
A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Role of brands is to:
- Identify the maker
- Offer legal protection
- Create barriers to entry
- Signify quality
- Provide competitive advantage
- Secure price premium
What is brand equity?
Brand equity is the positive differential effect that knowing the brand name has on customer response to the product or the service.
Why are brands important?
Brands embody a core promise of values and benefits consistently delivered. Brands provide clarity and guidance for choices made by companies, consumers, investors and other stakeholders.
What are the typical brand strategy decisions?
- Brand positioning
- Powerful brand positioning builds around strong consumer beliefs and values
- Brand name
- Based on product benefits, target market, and marketing strategies
- Brand sponsorship
- Launch a national brand (or manufacturer's brand)
- Sell to resellers that use a private brand (store brand)
- Licensing
- Co-branding
- Brand development
- Line extensions
- Brand extensions
- Multibrands
- New brands
