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Wset D2 > 12. Devising The Marketing Strategy > Flashcards

12. Devising The Marketing Strategy Flashcards

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1
Q

What are 5ps?

A
  1. Product
  2. Price
  3. People
  4. Place
  5. Promotion
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2
Q

What is product ?

A
  1. The object, service or system being marketed.
  2. Substance, liquid, packaging, label design.
  3. Experience
  4. Market gap, point of difference, explain.
  5. Satisfying needs
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3
Q

What’s price?

A
  1. Inc. Products, delivery, discount.
  2. Balance pay, profit
  3. New products lower, competition, rapid market share.
  4. Unsuccessful raise, less value.
  5. Psychological, 9.99 <10
  6. Pleasure expensive
  7. Gift
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4
Q

What are people in devising marketing strategies.

A
  1. Attitude, behaviour customer.
  2. Deliver tailored made.
  3. Little success, not into social media
  4. Relationship, producer, employee, staff.
  5. Training, knowledge sufficient service.
  6. Distributor, public relationship deliver message image.
  7. Producer provide resource.
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5
Q

What considerations need to be done in terms of place?

A
  1. Where sold
    2.identify target market shop
  2. High involvement specialist…
  3. Low involvement supermarket
  4. Effective distribution channel
  5. Different taste different country
  6. Adjust flavour
  7. Low profit, sensitive
  8. Legislation, taxation
  9. Mature market less profit saturated
  10. Less mature, opportunity
  11. Higher risk, no easy route
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6
Q

What is promotion?

A

At point of of sales
1. Price promotion
2.competition
3. Limited edition, packaging/ presentation
4. Consumer tasting
5.staff incentive
6. Staff training
Away from point of sales
1. Advertising
2. Television
3. Radio
4. Press advertising
5. Billboards
6. Digital advertising
7. Social media
8. Website
9. Smartphone apps
10. Review and awards
11 wine tourism
12. Public relations
13. Sponsorship
14.event and festival
15 free merchandise

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7
Q

What are pros and cons of price promotion?

A

Pros
1. Increase value, volume of sales
2. Shifting stocks
3. Discontinued line
4. New production
5. Brand awareness, market share.

Cons.
1. No loyalty- buy cheaper instead
2. Damage image, think discounted items as correct value l, raise price damage the brand image.
3. Required to cover loss of revenue by large retailers

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8
Q

What does price promotion refer to? How price promotion is implemented.

A

Offer discount on specific volume of purchase
1. Bogof
2. Buy one got one 50% of
Limited time only
1. Chrismax
Link save, free delivery cause less damage, no direct price reduction

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9
Q

How Competition work in terms of promotions

A

Pros
1. Provide exclusive prospective to consumer
2. Win trip
3. Collect detail future promotion, if local law allows.

Cons
1. Cost
2. Advertising, print

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10
Q

Limited edition, packaging presentation.

A
  1. Create exclusive products especially for those prized by investors. Luxury images
  2. Create for special event or sponsor major sport events
  3. Introduction to new consumers to know the brand
    4.such as tennis or world cup.

Cons
1. Cost
2. Create fun factors to consumer, not effective for longer term promotion.

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11
Q

Consumer tasting

A

Pros.
1. Increase consumer confidence after tasting
2. Future purchase
3. Communication, relationship
4. Winemaker
5. New products
6. Buy something else if don’t like wine (supermarket)
7. Food pairing suggestion and pairing.
Cons
1.cost of wine
2. Set up venue cost. Decoration
3. Cost of travelling
4. Cost of staff training.

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12
Q

What are pros and cons in terms of staff training in promotion.

A
  1. Tasting wine
  2. Encouragement, better understanding
  3. Deliver the experience
  4. Provide service
  5. Communication, relations q
  6. Story telling
  7. Specialist, fine dinning restaurant.

Cons
1. Cost.
2. Not large retailer, due to lack of communicate in supermarkets
3. No monopoly

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13
Q

What are the pros and cons of using television as a promotion method?

A

Pros.
1. Reach wide range of segment.
2. Long term memory if the campaign is well planned and made.
Cons:
1. Very expensive
2. 30 s too short for wine that requires more detail text.
3. Restricted by languages, true meaning not delivered due to language barriers.
4. Laws, regulations.

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14
Q

What are pros and cons of using advertising on radio

A

Pros:
1 cheaper than TV
2. Reach relatively wide range.
Cons
1. Lack of image
2. Difficult to impress or deliver the true message

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15
Q

What are pros and cons of using national press as promotion campaign?

A
  1. Full pages with limited text promote brand image.
  2. Detailed text is beneficial for wine industry that require story telling to increase brand awareness .
  3. Hire prized wine writer.
  4. Less expensive
  5. Target High involvement, food and wine Meg or newspaper.

Cons.
1. Less effective.
2. Target smaller segments.

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16
Q

What are the pros and cons of advertising on billboards?

A

Pros.
1. Various locations.
2. Using striking images
3. Pn site of road
4. Bus, train station can deliver the longer, more detail text for wine.
Cons
1. Less expressive, missing sign

17
Q

What are the pros and cons of digital advertising.

A

Pros
1. Easy and fast way to attract wide range of people.
2. Global
3. Only pay the cost when doing advertising on other website.

Cons:
1. Legal requirement, honest
2. Negative comments and reviews.
3. Costly, if personalised, easy, accessable Web is needed by It

18
Q

What are pros and cons of social media?

A

Pros
1. Cheap, fast
2. Cheaper to create
3. Communication, review. Easy
4. Update story, winery and vineyard.
5. Using other content news, article attract people.
6. Young people.

Cons
1. Inappropriate comment and review.
2. Young no face book
3. Bad review, explains difficult

19
Q

What’s are pros and cons of using Website

A

Pros
1. Great information, history, story, review.
2. General info for low involvement and technical sheet high and professional.
3. Online shops
4. Videos, photos
5. Detail event info.
6. Brand image

Cons
1. Expensive IT to keep website easy accessible
2.web site must be easy and accessible
3. Legal age depends on honesty.
4. Search engine optimisation to list on first pages, cost.

20
Q

What are the reasons for using a smartphone apps?

A
  1. Target high involvement
  2. Review, critics, other professional
  3. View stocks, commission to app developer.
21
Q

The pros and cons of sending wine to review

A
  1. Boost sales.
  2. Brand awareness
    3.stickers stand out in shelfs. Purchase stickers
  3. Target low involvement.
  4. Confident without tasting.
  5. Supermarket, online.

Cons
1. Reputable.
2. Cost of sending wine.
3. Fees to enter competition

22
Q

How is tourism a good method of promotion?

A
  1. Beneficial for new, up and coming producer, region
  2. Tasting, cellar door, sales.
  3. Tours winery, and vineyard. Experience.
  4. High involvement conversation to producer, low involvement recommended to friends
  5. Local tour company, food and wine experience.
  6. Using resources of local tourism council, free. Little cost.

Cons.
1. Staff shortage, long tours.
2. Decorating cellar door.
3. Staff training

23
Q

What is public relationship?

A
  1. Different than advertising.
    2.promote favourable brand image.
  2. Attending public event, press release, news letter, social media.
  3. Brand ambassador, social representations skills.
  4. Key opinion leaders in China.
  5. Word of mouth.
24
Q

How sponsorship works.

A
  1. Financially support the sporting culture event.
  2. Displaying logo, short image on TV program. Billboard.
    3.exclusjve right
  3. Brand awareness

Cons
1. Regulations, laws
2. Due to a form of advertisement

25
Q

Event and festivals

A
  1. Hold in urban area, no travelling
  2. Large population, winetasting, new consumers.
  3. Other attractions, food music
  4. Brand awareness, wine sales income

Cons:
1. Manage event order.
2. Can drink as much, right drink
3. Argument. Regrettable result.
4. Vouchers
5. Not main focus
6. Not long term sales.
7. Extra staff.
8. Travelling cost time.
9. Using stock

26
Q

Free merchandise

A
  1. Not need to reduce price.
  2. Less damage to brand image.
  3. National holiday, gift pack to friends.
  4. Brand awareness, not only for people using them but also others around them.
  5. Indirect sales
27
Q

How do people implement and monitor marketing strategy?

A
  1. Draw the strategy
  2. Put in practice
  3. Monitoring as it is a dynamic process. By looking sales figure, profit from balance sheet and the hits from Website.
  4. More comprehensive method is to implement the marketing research. By individual or group interview, consumer review.
  5. Eye tracking review on website, layout on the shelf and advertising.
  6. Viral marketing- specific communication throughout individual networking.
  7. Improvement
  8. Abandon of strategy.
28
Q

What marketing options available ?

A

Large companies
1. In house team
2. Full time
3 creating strategies and put in practice.

Medium
1. Out sourcing PR company and advertising company.
2. Cost

Small producers
1. Cannot afford the cost of professional marketing.
2. Part of employees work
3. Limited result.
4. Join industrial association VDP in Germay
5. AS a part of large profolio.
6. Way cheaper

Wset D2 (13 decks)

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