Marketing communications Flashcards
What is Marketing Communication?
Marketing communication refers to using different marketing channels and tools in combination to deliver a marketing message to the target audience.
What planning models are used for marketing communications?
SOSTAC
APIC
MOST
RACE
PASTA
PESO/NICE
Robostic planning model
Marketing communications planning framework (MCPF)
What does distribution mean?
Distribution relates to processes, people and interrelations between other organisations to connect the production of products and services to their end-users.
It is a chain of elements that, when connected, provides a smooth flow of orders and fulfilment. Like a chain it is as strong as the weakest link and it can be long and distributed or short and concise.
What criteria would you use to analyse buyer behaviour of a particular customer type?
- Homogeneous or heterogeneous purchasing
- Brand visibility
- Discretionary vs. essential purchases
- Frequency – how often are the products or services purchased?
What is a homogeneous product?
Two things that are alike. When trying to decide on a homogeneous product, price will be a big factor in your decision.
What is a heterogeneous product?
Heterogeneous products can be quite different and require considerations other than price.
What is supply side marketing?
E.g. Supermarket self space
You have to persuade the supermarket
to stock your product on their limited and valuable shelf space.
Why should they replace existing products with your products?
What is demand side marketing?
Persuade the end consumers to try your product
compared to the other brands on the shelf.
Without the demand you’ll find it hard to persuade the supermarket to stock your products – particularly with a product that is competing with other well-known brands
What is FUD and how can affect your brand/product?
Fear Uncertainty and doubt
The consumer will want to stick to a comfortable known brand and the supermarkets know this and won’t want to offer a brand that has a lot of brand resistance – unless of course you offer them a deal they can’t refuse!
What is discretionary purchases?
Nonessential spending
High value added, marketing focused around awareness and demand generation and largely directed to the end consumer.
What time of marketing is used for essential/frequent purchases?
Require marketing to maintain customer interest in the product and is usually focused on ensuring the distribution channels are supporting, positioning
and promoting your product so marketing is primarily supply-side marketing or ‘defensive’ customer marketing.
What are the key factors that differentiate B2B AND B2C marketing/distribution?
- Volume
- Value
- Margin
- Customer numbers
- Complexity
What is a forward contract?
these are agreements between two parties to
exchange at some fixed future date a given quantity of a commodity for a price defined today. The fixed price today is known as the forward price
What is a futures contract?
essentially, a futures contract is a standardised forward
contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. This type of contract has been in place since the 17th Century
though its use took hold in the USA in the 19th Century
How does volume effect the value of B2B products?
Many B2B transactions are relatively high volume. This is particularly true of commodity products and component products.
For most items in high volume B2B transactions there is little core value that can be added by intermediaries. Where value is added in these sectors, it tends to be in the areas of trading, particularly in supply and futures trading.
