Lecture 2 Flashcards
what is the marketing cycle
marketing analysis -> marketing strategy -> marketing actions ->…
what is marketing analysis
market research
what is marketing strategy
resource allocation, portfolio, segmenation, targeting, positioning
what is marketing actions
the 4ps
2 dimensions of resource allocation
horizontal/vertical
what is horizontal resource allocation
deciding between different things at the firm (portfolio management)
what is vertical resource allocation
the 4 p’s
what is a branded house
putting your brand on everything you do
what are advantages of a branded house
cheap, brand recognition
what are disadvantages of a branded house
reputation damages, brand dilution
what is a house of brands
subbrands named differently
what are advantages of a house of brands
no risk contaminating other brands, brands have their own identities
what is a disadvantage of a house of brands
more expensive
what are advantages of a growth share matrix
easy to perform
quick overview
good starting point for later analysis
everyone knows it, clients expect it
what are disadvantages of the growth share matrix
reducing everything to 2 dimensions (no profits included)
what about brands on the boundaries
no dynamic info
defend the cash cow
what is the brand renewal matrix
identify portfolio -> assess brand contributions -> assess market position -> sort by strategic imperative -> brand portfolio plan
what to keep in mind when identifying portfolio
don’t neglect older/struggling/underexploited etc brands
what are brand contributions
profits
what to keep in mind when assessing the contributions (profits)
hidden benefits and costs
what are 2 dimensions in assessing brand contributions
static and dynamic
what are the 2 things to consider when assessing the market position
brand traction / brand momentum
what is brand traction
how strong is a brand today (awareness, loyalty, purchase intentions)
what is brand momentum
dynamic, where is the brand headed
what is the generic purchasing funnel
awareness -> consideration set -> purchase intentions -> availability -> sales
