Intro Flashcards
Give points of marketing
- a state of mind and a professional practice
- consider the ‘value chain’
- deals primarily with customer communications
- guiding principle of how an organisation should operate
What does the marketing concept state
- Every aspect of a firms operation should be based on the importance of the customer
- Firm must make an adequate profit
- All parts of business must cooperate willingly and enthusiastically
What does the marketing concept emphasise
- Importance of customer
- Importance of proft
- Importance of management, good communications and an organisation wide approach
Marketing Orientation 3 main points
- The best way to manage a business is for it to face outwards
- Businesses must make what they can sell, not sell what they like making
- Successful operations are governed by the wants and needs of users
What are the 3 stages of Marketing
- Production/product orientation - potential for ‘marketing myopia’
- Sales orientation
- User orientation
(always remember: the product is what the consumer sees, hears, perceives and believes - user values are important
Key relationship drivers for relationship marketing
- Customer care, commitment and contact
- Value exchange
- Customer communications
- Persuasive product quality
This leads to successful practice, increased spend, loyalty, responsiveness, brand affinity and advocacy
Marketing strategy combination
- Product, including people, process and physical evidence
- Price
- Place
- Promotion
^ The marketing mix
Marketing strategy key points
- The nature of the product will influence the balance
- One element cant cover for problems with the rest
- Chosen strategy should see aims reached at minimum cost
- Strategy is not static and responds to environmental change
What is success in marketing judged by
- Anticipating customer needs and behaviour and achieving profitable sales
What is success in marketing dependant on
- Senior management encouraging and leading staff by example
- Dialogue (with staff and customers) linked to internal exchange, not isolation
What is Marketing Communications defined as?
1EXAMPLE
‘An audience centred activity, designed to engage audiences and promote conversation’. (Fill & Turnball)
What are marketing communication techniques
-Advertising
-Sponsorship
-Design/Packaging
-Sales Promotion
-P.R/Publicity
-Direct/Digital Marketing
-Word of Mouth
WORKS BEST TOGETHER^
Different media types
-Interactive/Social
-Press
-TV
-Outdoor
-Radio
-Cinema
-Ambient
Digital impacts all of these
Marketing Communications (books)
- Organisations communicate in many ways
- Image and impressions have a profound effect on success (The ‘Branson’ Factor)
- Who do they target? Interactional model of communications (Fill & Turnball 2016 pg49)
What does the marketing communications introduce
Opinion leaders, opinion formers (influencers) and listeners rather than the mass audience - also mass media, electronic sources, personal sources.
What does effective communication involve
sending a stimulus to the senses and gaining a response - a two way process
how are messages recieved
depends on the sender, the tone and the language
What does message persuasiveness affect
response
Where does response and understanding stem from
existing knowledge and attitude
Repositioning and reinforcement
repositioning - more difficult
reinforcement - more effective than conversion
Low credibility
marketers have low credibility as they are expected to be biased
Senders - Key issues:
- Credible information sources
- Understanding the advertising/communications process
- Determining the encoding process
The Message - Key issues:
- Content, creativity and interpretation
- Reaching the desired target
- Avoiding rejection or distortion i.e. selective perception
- Persuasiveness
- ‘Stickiness’ and ‘dwell time’
- Format and structure
Stimulus and Response
- Effective communications demand perception overlap to give a common basis for dialogue and understanding
- Take account of the receivers and level of involvement
- Stimuli should conform to experience and beliefs, match needs and avoid anxieties
Recievers - Key issues:
- How many, what kind and where (and their media habits)?
- Level of aggregation, awareness and knowledge
- Effectiveness depends on countervailing forces, e.g. competitors’ communications, reference groups, previous experience etc.
How communication work
- push-pull
- raising profile
- persuasion model
- recency model
- low involvement processing
a combination of all of these^^^^^
Name communication objectives
- building awareness, knowledge and understanding
- creating favourable attitudes
- generating trial
- maintaining loyalty
define drip
differentiating
reinforcing
informing
persuading
define how the communications models chain of processes must be initiated
- creating a cognitive structure (i.e. message considered and understood)
- creating a motivational (affective) structure (i.e. changes attitudes)
- creating a behavioural (cognitive) structure (i.e. brings about action)
complex, interrelated, sometimes incomplete or in a different order
what does the communication campaign superior communications involve
- intimate knowledge of customers, competitors and media habits
- clear, competitive, consistent, efficient, closely targeted, well branded, creative messages
- adequate funding / business capability
- teamwork and cooperation / planning
- measuring communication effectiveness
what does corporate image stem from
- products/services (including branding and heritage) - social responsibility / corporate citizenship - personal experience / impersonal contact - environments / performance - staff behaviour and appearance - communications
what are the promotional mix factors
- resources available
- promotional message / level of engagement
- complexity of product / service
- market type / size / location
- distribution
- marketing strategy / life-cycle stage
- state of buyer readiness
- competitors actions
what are the budget determinants
- affordability…do you have to buy in the skills?
- percentage of sales
- competitive parity
- objective tasks
integrated marketing communications
- deliver strong relationships/consistency
- reduce wastage / increase profits
- require long term, strategic outlook
- put customers first
- depend on an effective overall marketing mix
