L7: Communication Channel Strategy Flashcards
What is a marketing channel?
A set of interdependent organizations that help make a product or service available for use or consumption for the consumers by the business owner
What is an indirect marketing channel?
A marketing channel that contains one or more intermediary levels
What is a direct marketing channel?
A marketing channel without intermediary levels
What are the different functions of marketing channels?
- Creating utility
- Exchange efficiency
- Alleviating discrepancies through sorting
- Standardizing transactions
What is a channel conflict?
Disagreements among marketing channel members on goalsm roles and rewards –> this disrupts the value
What are vertical marketing systems?
Producers, retailers and wholesalers work together to help the customers, instead of working as seperate organizations.
A channel structure in which producers, wholesalers and retailers act as a unified system. One channel member owns the others, has contracts with them or has so much power that they all cooperate
What is a conventional distribution channel?
A channel that consists of more independent producers/wholesalers/retailers each as a seperate business seaking to maximixe its own profits
What are multichannel distribution channels?
A distribution system in whcih a single firm sets up two or more marketing channels to reach one or more customer segments
What is supply chain management?
Managing upstream and downstream alue-added flows or materials, final goods and related information from points of origin to point if consumption to meet customer requirements at a profit
What is the marketing funnel?
- Awareness
- Interest
- Evaluation
- Trial
- Adaption
What is a promotional mix?
A mix of different promotion tools to promote a product.
An example is a notification on a phone, it consist of different promotion tools.
What are some examples of promotion tools?
- Advertising
- Personal selling
- Public relations
- Direct and digital marketing
- Sales promotion
What is a push strategy?
A push strategy is a promotion strategy that uses the sales force and promotion to push the product through channels.
Producer -> Retailer/wholesailer -> consumer
What is a pull-strategy?
A promotion strategy that calls for spending a lot in consumer advertising and promotion to induce final customers to buy the product, creating a demand vacuum, that pulls the product through the channel.
Consumer - ask for demand -> retailers/wholesailers - ask for demand -> producer
What are the pros and cons of traditional marketing communication tools?
Pros: - Impactful - Permanent - Memorable Cons: - Hard to measure - expensive - constantly evolving
What are exmaples of traditional marketing communication tools?
Newspaper
Phone calls
Television adds
billboards
What are examples of modern marketing tools?
- Instagram (and social media)
- Online ads
- Tiktok
- Cookies
What is digital marketing?
the use of modern (digital) channels to promote products and services to consumers/businesses
What are the pros and cons of digital marketing tools?
Pros;
- Engagement
- Measurable
- Targeted
Cons:
- Potentially annoying
- less permanent
- contstantly envovling
What is the RACE apporach to diital marketing?
Reach -> Increase brand awareness
Acquire -> Increase brand interaction -
Convert -> get leads and build new connections to drive sales and psrtnerships
Engage -> Build brand loyalty, advocay and delight customer
What is search enging marketing (SEM)?
Gaining listings in search engine results pages of search engines (google, yahoo etc.)
This includes advertising on third-party publisher sites, which are part of the search display
What is the difference between SEM and SEO?
SEM describes how SEO is implemented
SEM dictates how the company would return its SEO
SEO is required for every online firm
What is online PR?
Uses influencer outreach to maximize favorable mentions of a compnay, brand or website.
This is crucial for managing reputation
Uses own media and news blogs
Leverages third-party bloggers and content creators
What are online partnerships?
Create and manage long-term arrangements to promote online services on third-party websites or trhough email coomunication
(co-marketing, affiliate branding, Aggregators (price comparing websites))
What is social media marketing?
Social media marketing includes the organic social media marketing, but also the paid ads and sposnoring. It is a form of electronig word of mouth
What is opt-in email?
A permission-based email system. The emails are sent to prospective or existing customers.
These emails contain new feutures or special offers.
What is interactive display?
- Usually in the form of banners and videos ads on publisher and social network websites
- Encourages click-through go a target website
- Also connected to SEM
