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MKTG 187 > chapter 15 > Flashcards

chapter 15 Flashcards

1
Q

what does a good launch plan consist of?

A
  1. customer analysis
  2. competitive analysis
  3. company analysis (4 ps)
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2
Q

explain cost based pricing

A

price = cost to make the product + a bit of extra

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3
Q

explain performance based pricing

A

price depends on how much value the product gives to the customer

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4
Q

explain product line pricing

A

setting different prices for various products within the same line

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5
Q

explain perceived value pricing

A

price based on how good customers think your product is compared to competitors

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6
Q

explain freemium and premium

A

basic version is free but customers pay for extra features

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7
Q

explain complementary pricing

A

one product is cheap to get you to buy a related product thats more expensive

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8
Q

explain subscription pricing

A

customers pay regularly to use the product or service

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9
Q

3 types of selection of distribution

A
  1. direct
  2. indirect
  3. omnichannel
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10
Q

explain direct distribution

A

right to customer

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11
Q

pros of direct distribution

A

more control, higher margins

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12
Q

cons of direct distribution

A

higher marketing and transaction costs

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13
Q

explain indirect distribution

A

presence of middlemen like retailers and distributors to sell

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14
Q

pros of indirect distribution

A

lower marketing and transaction costs

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15
Q

cons of indirect distribution

A

less control

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16
Q

explain omnichannel distribution

A

mix of both direct and indirect methods

17
Q

what is assumption made in go to market testing

A

using search engine ads (ex, google ads) is the most cost-effective way to attract customers

18
Q

what does go to market testing test?

A

tests if you can do this without spending money on ads. looks at which test should be done first, cost based? increased engagement based?

19
Q

what type of selling is not scalable?

A

founder

20
Q

what should you do for scaling sales and marketing regarding sales strategy?

A

learn the founders sales process and turn it into a step by step guide (playbook) for future sales reps

21
Q

what should you do for scaling sales and marketing regarding CAC and customer relations?

A

keep CAC low and keep customer relations high

22
Q

examples of promotion

A
  1. paid ads
  2. physical signage
  3. blog
  4. social media influencer partnerships
  5. KPI metrics to track
23
Q

examples of KPIs

A
  1. CAC
  2. market share
  3. customer satisfaction
  4. conversion rates
  5. customer retention rate
  6. net promoter score
  7. revenue growth
24
Q

stages of test marketing

A
  1. product development
  2. testing phases
  3. market testing
  4. marketing plan integration
  5. final national launch
25
Q

explain product development

A

-product concept
-prototypes (R&D prototype vs production prototype)
-final product

26
Q

what is R&D prototype?

A

functionality based

27
Q

what is production prototype?

A

polished version

28
Q

what are the tests in the testing phase

A
  • concept test
  • product use test
  • marketing components test
29
Q

explain concept testing

A

checks if an idea appeals to audience

30
Q

explain product use test

A

ensures the product works and meets user needs

31
Q

explain market component testing

A

evaluates target audience, demand, competition, pricing, distribution, and trends to assess a product’s market viability.

  • ad copy, pricing, promo strategies
32
Q

explain market test

A

product + market tests to stimulate real world launch on a small scale

33
Q

explain marketing plan integration

A

aligns messaging, channels, and departments to deliver a cohesive strategy

  • audience, product positioning, price, promo, distribution, packaging
34
Q

give some examples of the pre launch activity of pre-announcements

A

press release, SM campaigns, leaks, previews, sales training

35
Q

what are some ways to launch a product?

A
  1. geographic rollout
  2. launch with little promo at a retail store to see how it does
  3. launch management system –> what would be a problem and how could others respond?
36
Q

what things could be done in a launch management review

A
  1. spot problems
  2. track ATAR and customer satisfaction
  3. prioritize a few problems
  4. contingency plans
  5. track and trigger points
  6. CAC
  7. awareness
  8. sales increases

MKTG 187 (9 decks)

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