Marketing Plans

Question 1

Marketing is a process for

Answer 1

Defining markets
Quantifying the needs of the customer groups (segments) within these markets.
Determining the physical and digital value propositions and revenue models to meet these needs
Communicating these value propositions to all those people in the organization responsible for delivering them and getting their buy-in to their role.
Playing an appropriate part in delivering these value propositions and communicating them by selecting relevant media investments
Monitoring the value delivered to customers and the organization.

Question 2

The marketing concept (central idea)

Answer 2

The central idea of marketing is of a matching between a company’s capabilities and the wants of customers in order to achieve the objectives of both parties.

Question 3

Paid media

Answer 3

a marketing strategy that involves paying to promote a company’s message on external platforms.

Question 4

Owned media

Answer 4

Any online property that a company or brand owns and controls, such as a website, blog, or social media channels. It’s a way for companies to create content to engage their audience and increase brand awareness.

Question 5

Earned media

Answer 5

publicity or exposure that a company gains through non-paid means, such as word of mouth, social media mentions, or media coverage. It’s also known as free media or word of mouth marketing.