Marketing Flashcards
Marketing Mix
Distribution Programme
Communication Programme
Product Programme
Pricing Programme
Marketing Objectives
S.M.A.R.T
Promotional Tools
Advertising
Public relations
Personal selling
Sales promotion
Direct Marketing
Push Strategy
Promotional strategy that uses the salesforce and trade promotions to push the product through marketing channel members who in turn promote it to final customers (outside advertising pushing customers to go to store and buy product)
Pull Strategy
Promotional strategy in which the producer directs its marketing activities (primarily advertising and consumer promotion) toward the final consumers to induce them to buy the product. (push product onto consumers when they are in the store)
Types of Advertising Objectives
Inform
Persuade
Remind
Guerilla marketing
A way to drive publicity and as a result brand awareness by promoting using unconventional methods designed to evoke surprise
Campaign Strategies
Continuity - Evenly space out your advertising
Flighting - When there are gaps in the budget you only pay for certain times
Pulsing - A continuum amount of money but then you spend more money in some places
Types of Distribution
Intensive distribution
Exclusive distribution
Selective distribution
Macro Environmental Analysis
Economic
Demographic
Cultural
Political
Natural
Technological
Types of Service Marketing
Internal marketing (keeping employees happy)
External marketing (company keeping customers happy)
Interactive marketing (employees interacting with customers)
Marketing Skimming
High price to a new product to skim maximum revenue - fewer sales but sales are more profitable
Marketing Penetration
Setting a low price to attract a large number of customers and a large market share
Value added pricing
rather than cutting prices, attaching value-added features
Cost based pricing
set price based on cost –> convince buyers that they should buy it
