Final Prep

Question 1

What are the 3 ways to increase profits through promotional strategy

Answer 1

1. Influence preference (make D inelastic)
2. Change behaviour (shift D and make inelastic)
3. Develop Awareness (shift D to right)

Question 2

What is the marketing communication TRIFECTA

Answer 2

Owned

Earned

Paid

Question 3

What is the purpose of integrated marketing communications (IMC)

Answer 3

Avoid confusion and deliver clear message amongst all possible communication channels

Question 4

What is Consumer Experience Markting (CX)

Answer 4

Improving customer experience on a journey level (on all points of contact)

Question 5

What are the 5 steps of customer journey map?

What is the promotional quality that aligns with the steps

Answer 5

1. Interest (Awareness)
2. Search (Findability)
3. Research (Reputation)
4. Purchase (conversion)
5. Experience (advocacy)

Question 6

What is content/inbound marketing?

Answer 6

Creating and distributing content that displays your company’s message to the correct audience

Question 7

What are the 6 elements of CONTENT VISION/strategy (owned marketing c

Answer 7

Vivid
Inspirational
Significant
Infectious
Out of ordinary
North Star (belief and position stays and is clear)

Question 8

What are the 4 different types of owned marketing websites? When are they best used

Answer 8

1. Marketing Website = uncommon purchases that require info = cars
2. E-commerce = easily converted products = retail
3. Brand community website = high brand community products = Harley Davidson
4. Email Marketing website = tldr

Question 9

What is earned marketing communications

Answer 9

Reputation and publicity through consumer experiences. Cannot be controlled by company.

Question 10

What is user generated content in earned marketing

Answer 10

Things like viral challenges that promoted by consumers

Question 11

What are some examples of traditional earned marketing communications

Answer 11

Articles written in magazines/ blogs

Lobbying

PR from Charity work