Ch 0 - Intro to marketing comms Flashcards
What are the parts of the marketing mix? Where are we focusing?
product place price promotion
PROMOTION
What are the 5 essential goals for marketers?
1) communicate with customer + get them to interact
2) influence cistomer perceptions of brand and product
3) manage how form relationships (in order to get cust to EXCHANGE with org)
4) manage compayn image and corp reputation
5) stakehodler management
What are things that may impact company image?
- anyone or thing related to the biz can mess with how the whole org is seen (so choose your influencers wisely, etc.)
- bad press is still press = people are stupid and forget real shit, so they probably only remember the excitement around the brand name, not the actual negative event
How long did it take US household to adopt telephones? home computers? smartphones?
tele[hones: 50 years
comp: 20 years
smartphones: <10 years
What are the 4 quadrants related to the pace of technology substitution? examples of each?
- creative destruction = fast substituion bc few challenges for new tech and pportunities for old tech – inkjet printers vs dot matrix printers
- Robust coexistence = gradual substitution bc old tech fights back, so end up with lots of alternatives and changes – solid state vs magnetic storage - flash memory vs hard disk drives
- Illusion of resilience = stasis follwoed by rapid substitution bc few challenges to new tech but old tech held on for a while – mp3 files vs cds
- robust resilience = slowest substitution bc old tech fights back and new tech comes in slowly – electric cars vs gasoline
What is the two step theory of communications? How did it change over time?
two step = media comm received by opinion leaders then passed to other individuals
shifted to multistep = more steps/paths
shifted to now = info passed around so many different ways and sytems and etc
What is the diffusion of innovations model?
innovators = active info seekers
early adopters = opinion leaders
early majority = gather evidence before deciding
late majority = sceptical
laggards = suspicious of inventions and only adopt when have no choice
what are typical marketing decisions?
a) Product decisions (type of product, features, attributes & benefits, Corporate name/identity, Brand name, package decision)
b) Price decisions (pricing policy, price level, discounts, allowances, flexibility)
c) Distribution decisions (channel type, channel policy, type of intermediary/reseller, type of location/store, service level)
What are opinion leaders? Opinion formers?
leaders = informal experts who research and whose knowledge is valued amongst friends family etc
formers = pros, formal experts who work in the area and have specialist knowledge about the subject
How many messages from brands do consumers get daily? What marketers need to do with this info?
6-10k!
need see how can break through, be different, etc.
What are options related to communications about the product (topics to communicate)?
- Product Type
- Product Attributes/Benefits
- Brand Identity
- Brand Equity
What is the significance of an evoked set? What do to get there?
sig = your brand will come to mind when customers think of your industry/product type/something else related, which means they more likely to buy from you when they realize they have a need
gert there = persistence, multiple channels!
**marketing builds up, so start now and things like hood branding or jingles, etc will stick around~
What is the significance of communications about product attributes/benefits? what should marketers do?
products are just a bundle of benefits, so market the VALUE given, not just the basic factors/function of the product
purhcase is abour hte EMOTION (kill 99% of bacteria vs protect your family)
marketers need incorporate benefits, emotion into messaging
What is brand identity? What are 5 aspects? What should marketers do?
brand id = the cusomers perception of the brand and who they are as a result of their messaging and public presence
5 aspects:
- logos
- symbols
- taglines
- packaging
- fonts and colours
marketers should find a way to build a positive brand identiyy that aligns with the org values and goals, and use messaging to get that into customers evokede set
What does good brand identity help with? (3 things)
- recognition (duh)
- deciison simplicity bc with known brand, customers know what theyre getting, less unknowns
- brand can even become synonymoous with the product itself (kleenex, bandaid)
** can be a bad thing bc low qual non-kleenex given when kleenex asked, ppl thing dadmn ths is the worst kleenex ever
