chapter 1

Question 1

WHAT IS MARKETING?

Answer 1

Marketing is a process that includes planning and performing the conception, pricing, promotion, and distribution of ideas, products, and services to create value

Question 2

The product consists of 3 layers:

Answer 2

1. Core product- the basic need and value
2. Actual/tangible product- features of the product that you can see and touch (color, quality, design)
3. Augmented product- non-physical part of the product. This the added value to the product

Question 2

Marketing tools can be divided into 4 categories:

Answer 2

• Product (customer need)
  -Pricing (price for the customer)
  -Place (convenience)
  -Promotion (communication

Question 3

EXPLAIN the layers with bike example

Answer 3

• Core product- providing mobility, transportation, and exercising
  -Tangible product- wheels, frame, brakes, color and design, company of the bike
  -Augmented product- app for cycling club, insurance, customer support

Question 4

Marketing communications…

Answer 4

… is a process during which the organizations and the audiences engage with each other

Question 5

The main goal of the marketing communications:

Answer 5

is to encourage the target audience’s cognitive, attitudinal, and behavioural responses

Question 6

TOOLS:

Answer 6

1. Advertising
2. Brand Activation
3. Sales promotion
4. Point of purchase
5. Direct marketing
6. Sponsorship
7. Public relations
8. Exhibitions
9. Personal selling

Question 7

ADVERTISING

Answer 7

MASS MEDIA

Question 8

BRAND ACTIVATION

Answer 8

INTERACTION WITH TARGET AUDIENCES (TEST DRIVE)

Question 9

EXHIBITIONS and TRADE FAIRS

Answer 9

Usually- B2B and Industrial markets contact prospects users and purchasers

Question 10

POINT OF PURCHASE

Answer 10

Displayed advertising within a shop,merchandising

Question 11

DIRECT MARKETING

Answer 11

Personalized brochures

Question 12

PUBLIC RELATIONS

Answer 12

a company’s use of tactics and strategies that generate brand equity, build a positive image, highlight product and service launches and updates and ultimately boost sales and revenue. Social media is a perfect example of both public relations and marketing, because it is typically part of any successful communications strategy.

Question 13

Personal selling

Answer 13

representative going to the company to sell their product

Question 14

Sponsorship

Answer 14

Provides goods and funds- for example during basketball game on the players t-shirt

Question 15

Sales promotion

Answer 15

Loyalty programmes

Question 16

PERSONAL COMMUNICATIONS

Answer 16

Message transfer directed to certain known and individually addressed people

Question 17

MASS COMMUNICATIONS

Answer 17

Directed to a number of receivers who cannot be identified using mass media to reach broad audience

Question 18

MASS VS PERSONAL

Answer 18

MASS: costs lower, process is faster, attention value is low, selective perception high, direction is one- way- no feedback, measuring effectiveness- difficult

PERSONAL: costs are higher, process is longer, attention value is higher, selective perception lower, directetion is two-way- yes for feedback, measuring effectiveness- easier

Question 19

IMAGE OR THEME COMMUNICATION

Answer 19

The advertiser tries to sell the target group something about the brand or product and services offered. The goal is to improve relations with target groups and increase customer satisfaction, or reinforce brand awareness.

Question 20

ACTION COMMUNICATIONS

Answer 20

Seek to influence the buying behaviour of target groups and to persuade the consumer to purchase the product

Question 21

+ communications instruments that were usually separated are now combined that a synergetic effect is reached and the resulting communications effort becomes seamless of homogeneous

Question 22

Two principles that are important when designing and implementing an integrated marketing communication mix

Answer 22

Consistency and synergy- instruments working in the same direction and not conflicting

Question 23

Successful marketing communications depend on a well:

Answer 23

Integrated, synergetic and interactive marketing mix

Question 24

CULTURE

Answer 24

Collective programming of the mind which distinguishes members of one group or category of people from those of another. Different cultures will respond differently to marketing communications

Question 25

What the company should consider?

Answer 25

The company should consider the major question- to what extent should it localise (adapt) or globalize (standardise or integrate) its marketing communications across different cultures?

Question 26

SELF- REFERENCE CRITERION-

Answer 26

our unconscious tendency to refer everything to our own cultural values
People often expect that foreigners have the same values, same interests as they do themselves and if this us not the case they consider their own habits values to be superior

Question 27

STANDARDISATION

Answer 27

Standardised campaign- is run in different countries, using the same concept, setting, theme, appeal and message

Question 28

S Pros

Answer 28

-The lower price for production, research, development, and advertisement
-Global brand identity and trust- people all around the world recognize the same brand
- Companies can enter new markets more quickly because there is no need to tailor each product to individual markets

Question 29

S Cons

Answer 29

-Does not guarantee that the same advertisement can be effective in different countries
- Local competitors may have better aspects and can outperform global brands
-Standardized products may not go well with local laws

Question 30

ADAPTATION

Answer 30

elements of the campaign are adapted to local circumstances

Question 31

A Pros

Answer 31

-Adaptation allows marketers to tailor their products and messages to suit local cultural norms, consumer preferences, and expectations.
-Local competitors often have a deep understanding of the market. By adapting products and marketing strategies to align with local needs, global brands can effectively compete with local businesses and create a strong market presence.

Question 32

A Cons

Answer 32

-Developing different marketing campaigns, products, and advertising materials for each market increases operational costs.
-Managing multiple, customized marketing strategies and products adds complexity to a company’s operation

Question 33

Glocalization

Answer 33

is a mix of two helps to reach the right compromise and use the best of both techniques
A creative idea can work globally with few adaptations in order to respect the different mindsets and values globalised campaigns combine global elements with local ones
Products that can be sold only using image appeals and media content are better for global communications

Question 34

THINK GLOBAL BUT ACT LOCAL

Answer 34

Globalised advertising campaigns often combine global elements such as global brand name and positioning with local elements such as wording or a local celebrity endorser