M1 Topic 4 Marketing Strategies Part 3 : People, processes, physical evidence, emarketing, global marketing Flashcards
how are people considered in extended marketing mix
businesses consider the quality of interaction between customer and those within the business who deliver service
how are people strategies achieved
recruit and train the best staff to create a good impression on customers
what does process refer to in the extended marketing mix
flow of activities a business will follow in delivering service
how are process strategies achieved (3)
- employees more customer friendly,
- employees more efficient in satisfy peoples needs
= in order to increase sales and reputation
what does physical evidence refer to in the marketing mix
the location where service is provided and materials needed to carry out service are located
how is the physical evidence strategy achieved
by using high quality physical evidence to create a image of value
what is E-Marketing
using the internet to perform marketing activities
what is social media advertising
the use social media platforms to deliver targeted commercial messages to customers
advantages of social media advertising (3)
Cheaper than traditional forms
Easy use + monitor
Large audience
disadvantages of social media advertising (2)
Can’t control what is said about product
Can’t accurately measure reach + frequency
what is global marketing
marketing on a world scale
how does market research help global marketing
helps the business to understand a country’s cultural, economic, political + social features
advantages to using global branding (2)
- Only need one advertisement for many locations
- Creates a worldwide image and brand
types of global marketing strategies (4)
Standardisation
Customisation
Global Pricing
Competitive positioning
what is standardisation
assumes the product used and needs are the same all over the world
what are the advantages of standardisation (2)
- Achieve Economies of scale
- Low cost of research and development
what is customisation
way product used and needs it satisfies are different between countries
how is global marketing customisation achieved
by changing the marketing plan dependant on a countries economic, political, and sociocultural features
what is global pricing
how a business coordinate pricing policy across different countries
list ways of global pricing methods (3)
Customised pricing
Market-customised pricing
Standardised pricing
what is customised pricing
how business coordinate pricing policy across different countries
how is market customised pricing achieved
when prices are set according local market conditions
how is standardised pricing achieved
by setting the same price for the product anywhere in the world
what is competitive positioning
how a business will differentiate products
what are he advantages of competitive positioning (2)
promotes:
- Product leadership
- Positive customer relationships
