howard Flashcards
marketing process def
Marketing process by which companies engage customers, build strong customer relationships, and create customer value.
audit marketing process
The Audit, understanding the brand’s current position and the market environment. analyzing market scenarios, including internal analysis (such as a SWOT helps assess the brand’s current situation). The strategic fit is also evaluated to determine how well the marketing strategies align with the brand’s overall goals and vision.
strategy marketing process
The Strategy phase defines future goals and how the brand should position itself in the market. (STP) model is applied to identify the right market segments, target audiences, and the best positioning
translation marketing process
The Translation involves executing the action plan through marketing mix—product, price, place, promotion—and a contingency (back up) plan
evaluation marketing process
Evaluation measures the success of the marketing efforts. KPIs, such as sales growth, social media engagement rates, and customer feedback, are tracked.
Possible corrective actions is necessary ex increasing ad spend or adjusting the campaign message
stp and y
Segmentation (divide markets into groups of customers)
Targeting (select most attractive segments to focus marketing on)
Position (determine how to position your product for each target segment)
Y segment? Marketers can’t sell to every1 (too large, costly), decide consumers in the segment most attractive.
market segmentation
Demographics:age gender income occupation ethnic religion state of life
Geographic: religion country differences
Psychographics: personality lifestyles interest, how they spend leisure time
Behavior: brand loyalty, benefits desired, purchasing habits,
Webographics: characteristics of users, sites visited, how access the internet
Targeting types
Undifferentiated marketing (mass marketing, entire is the target customer like water gas)
differentiated (segmented marketing, certain is target market)
concentrated (smaller specific subset of the larger market is targeted)
micro ( individual of specific location is targeted)
Strategies to attract buyers
window n in store display. strategic product grouping, promotion, in-store advertisements.
Types of channels fashion brands use to reach consumers.
Advertising: Tv, print, radio, outdoor and online
PR: media relations, press, events (Work with fashion editors and journalists to get features in magazines / websites. social media, pop ups, events, parties, charities, red carpets. using some1/ something other people’s validation to make the brand appear better)
Direct marketing: email marketing, direct mail and apps( targeted messages directly to consumers,personalized to encourage action.y no more direct marketing? Such as print adverts like flyersetc. because of social media’s existence, more cost to do and sustainability) to target potential and existing customers.Y? To collect personal data, interest, purchasing and repeat purchasing behavior
Experimental: events, pop ups, guerilla marketing
Sales promotions: coupons, discounts, contests, loyalty programs (short-term incentives to encourage purchases. Ex, Limited-time offers Buy-one-get-one-free, Loyalty programs, Discounts and coupons)
Digital: websites, email, social media, influencers, e-commerce Platforms: Amazon, own online store)
in-store/personal selling (retail workers build relationships w clients and recommend products)
endorsement,
cat/tradeshows. larger market, costly, quick and easy to reach right buyers,
Offline Marketing Channels: Brick-and-Mortar, Pop-Up & Events, Print Advertising, Collaboration.
Customer Engagement Channels: Loyalty Programs, UGC (encourages customers to create share brand and product related content to generate word of mouth), Community Building
4C’s of communication:
communications (ability to deliver personal message and reach large audience)
credibility (given by target audience),
cost (wastage, cost),
control (ability to target particular audiences).
IMC (integrated marketing communications)
strategy of integrating all marketing communication tools, channels, and messages to deliver a consistent and unified brand message to the target audience.
4C’s of IMC
Coherence (message must be connected across channels)
Consistency (consistent design, messaging, reinforces brand identity)
Continuity (message must be connected throughout time, flow from 1 message to the next),
Complementary (message should complement one another).
atl, btl, ttl
Above the line marketing is widespread brand building advertising,
below is highly targeted direct marketing,
through is integrated ATL and BTL marketing
aida
Attention (Grabbing the audience’s interest), Interest (Engaging the audience), Desire (Making consumers want it), Action (Encouraging purchase)
- Awareness via advertising, online PR, social media, celebrity endorsement
- Interest: Drive in store / online to find out more, product placement, sponsorship, social media
- Desire: Style the look / Collaborator information, direct marketing. sales promotion
- Action: Become a member, get 10% off / Free delivery, sales promotion, direct marketing, personal selling
Prada launches a visually striking window display featuring limited-edition items, drawing them into the store. Interest: host in-store events with renowned fashion influencers and offer exclusive previews of upcoming collections. Desire: leverage its reputation for luxury and craftsmanship: personalised shopping experiences (custom fittings, stylist). Action: call to action will include limited-lime offers and promotions for in store purchases.
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+- advertising
Advantages of advertising: reaches a large audience with one message
Disadvantages: ability to deliver a personalized message is low, less opportunity to interact directly, Audiences know that it is paid = credibility, expensive.
For an effective communication, at least 2 must be present: Power ( influence others), credibility, relevance
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advertising appeals
how to connect to the audience. brand message aims to evokes a response from the target audience. Tone of the message, can be rational, emotional, fearful, humorous, sexual, etc
rationale emotionale appeal
Rationale appeals focus on consumer functional needs ex convenience, economy, features, health, price. Demonstrated w scientific evidence, educational appeals, product features or popular aspects.
Emotional appeals focus on connecting brand consumers’ psychological needs and are useful when it’s difficult to differentiate brands. Fear, sex, humour
drip
differentiate product (positioning, often informed by 4/7ps),
reinforce brand message
inform or make people aware of brand (educate),
persuade (encourage product related activity such as visit website, go in store, read more)
race model
Reach: building awareness through various channels like social media, advertising, and content marketing.
Act: (prompt interactions) encourage engagement.
Convert achieves sales, turn potential customers into actual buyers.
Engage: (encourage repeat business) creating long-term relationships with customers. email marketing, loyalty programs, personalized content, and encouraging repeat purchases.
crm and rfm
CRM (Customer Relationship Management) practices business uses to analyze customer data
RFM model analyze customer (how recent they shop) frequency (how often), monetary value (how much they spend)
push
Push Advertising (paid)
Push ppl to the content and brand (forced) actively promote products to get them in front of consumers .
(Pop-up stores, Direct selling, Trade shows and events, Celebrity endorsements, Billboards and TV ads, fashion week )
Make products available everywhere so customers can see and buy them. Department store stocking product (push) Own app (push or pull)
pull
pull(organic)
ex window display but push if paid like in harrods
pulling” customers toward the product by creating desire and interest, encouraging them to seek it out.
(Get potential customers to want your products before they come in-store (ex, educating potential customers, spreading the word about sales and discounts).
Influencers , Discounts and offers Social media adds n campaigns, (UGC), Loyalty programs, Word-of-mouth
profile
Profile
Building profile, builds and maintains its image and reputation, shape how brand is perceived by the public
Celeb, locations, Iconic designs, Pop up. to get people excited. consistent messaging and strategic positioning.
Lack of Target Audience Understanding
Failing to understand the preferences, behaviors, and values of the target audience can result in a campaign that doesn’t resonate:
Cultural Insensitivity, Weak Brand Messaging,Overemphasis on Trends, Poor Timing, Lack of Digital Strategy, Budget Mismanagement, Creative Missteps (Uninspiring/confusing visuals and storytelling)
Messaging, 7 major elements of communication process;
Sender / Source:
Encoding:source puts together abstract idea to communicable messages
channel: channels to deliver
Receiver: audience to the message:
Decoding: receiver interpret message
Noise: Anything that disrupts the communication (Physical (tangible obstacles ex, poor infrastructure), Semantic (misinterpretations of language, symbols, or phrases.), Physiological (what is going on in the human world that may affect), Psychological (attitudes and assumptions, can’t force everyone to have same attitudes), Cultural noise, Technical noise (disruptions caused by technical issues), Organisational noise (within the organization))
Executional styles
Straightforward/straight sell. Factual basic message of brand w out tricks or feelings
Testimonial, entails a person w product experience providing positive report on brand
Demonstration, show actual working of the product
scientific or technical evidence, provides proofs to believe
Slice of life, everyday issue solved using product
Dramatisation, where product as main focus, more dramatic slice of life
Fantasy
Personality symbol personality linked to the brand
Animation,
Comparison, compare itself to competitors
5 main promotion mix
Pr, Sales promotion, Direct marketing, Personal selling, Advertising
Micro and macro environment: SWOT , PESTEL, Current performance, competitor, Target market (STP)
(GAADA) Marketing mix, Product, Price, Place, People, Process, physical evidence,
promotion mix (Pr, Sales promotion, Direct marketing, Personal selling, Advertising)
The creative strategy: AIDA and DRIP, USP &ESP, PUSH PULL PROFILE
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