Marketing Strategies Flashcards
Recall the template for:
“market segmentation, product/service differentiation and positioning”
Types of market segmentation include:
- Demographic
- Geographic
- Psychographic
- Behavioural
Methods that a business differentiates its product or service include:
- Value for Money
- Customer service
- Environmental concerns
- Convenience
- Social and ethical issues
Customers preach ethical consumerism
Relate to Dawn
Made from soybeans not beeswax
Recall the template for:
“products – goods and/or services”
Total Product Concept
Features of Product
- Quality
- Packaging/labelling
- Design
- Brand name
- Exclusive feature
- Branding
- Packaging
Relate to Dawn
Quality products
Recall the template for:
“branding”
Branding (consumer POV):
- identify the specific products that they like
- creates a sense of quality
- reduce their level of perceived risk of purchase
- gain a psychological reward
Branding (business POV):
- gain repeat sale
- introduce new products
- encourage customer loyalty
- charge more
Trademark
Types of Logos include:
- Brandmark Logo
- Wordmark Logo
- Lettermark Logo
Types of Branding Strategies include:
- Manufacturer’s brand or national brand
- Private or house brand
- Generic brand
Relate to Dawn
Dawn has a manufacturer’s band which is associated with quality and consistency
High geographic spread
Short term is ineffective in foreign markets
Recall the template for:
“packaging”
Packaging:
- preserves the product
- protects the product from damage or tampering
- attracts consumers’ attention
- divides the product into convenient units
- assists with the display of the product
- makes transportation and storage easier
Label contains information about ingredients, operating procedures, shelf life, package size or country of origin
Relate to Dawn
The packaging can be redesigned to protect the product from the transportation issues
Recall the template for:
“price including pricing methods – cost, market, competition-based”
Pricing methods
- Cost-based
- Market-based
- Competition-based
Price Leader
Relate to Dawn
Dawn is not a price leader in foreign markets
Recall the template for:
“pricing strategies – skimming, penetration, loss leaders, price points”
Pricing strategies:
- Bundle Pricing
- Price Skimming
- Price Penetration
- Loss Leader
- Price Points
Relate to Dawn
Price skimming or penetration are most effective but all are and it depends on Dawn’s priorities
Recall the template for:
“price and quality interaction”
High prices correlates with high quality
Stronger correlation in luxury items
Relate to Dawn
Dawn can reinforce the quality of the product with a high price
Recall the template for:
“promotion”
Types of Promotion
- Personal selling
- Relationship marketing
- Sales promotion
- Publicity
- Public relations
- Advertising
Advertising Media
- Print publications
- Television advertising
- Radio advertising
- Outdoor advertising
- Direct mail
- Window display
- Internet advertising
- Telemarketing
Relate to Dawn
Dawn can spread the knowledge of the business through promotion
Recall the template for:
“elements of the promotion mix – advertising, personal selling and relationship marketing, sales promotions, publicity and public relations”
Types of Promotion
- Personal selling
- Relationship marketing
- Sales promotion
- Publicity
- Public relations (PR)
- Advertising
Relate to Dawn
Dawn can spread the knowledge of the business through promotion
Recall the template for:
“the communication process – opinion leaders, word of mouth”
Advertising Media
- Print publications
- Television advertising
- Radio advertising
- Outdoor advertising
- Direct mail
- Window display
- Internet advertising
- Telemarketing
Terminology:
- Channel
- Noise
- Opinion Leader
- Word-of-mouth Communication
The values and reputation of the opinion leaders reflected on the business
Relate to Dawn
Dawn can communicate to a large audience its values and products through an opinion leader
Recall the template for:
“place/distribution”
- Distribution Channels
- Channel Choice
- Physical distribution issues
Relate to Dawn
Dawn suffer from physical distribution issues
Recall the template for:
“distribution channels”
Types of Distribution Channels
- Producer to customer
- Producer to retailer to customer
- Producer to wholesaler to retailer to customer
- Producer to agent to wholesaler to retailer to customer
- Electronic-commerce (E-commerce)
- Mobile-commerce (M-commerce)
Relate to Dawn
As Dawn is a producer, it can take multiple distribution channels
Recall the template for:
“channel choice – intensive, selective, exclusive”
Intensities of Market Coverage :
- Intensive distribution
- Selective distribution
- Exclusive distribution
Relate to Dawn
The market coverage for Dawn is unknown
Recall the template for:
“physical distribution issues – transport, warehousing, inventory”
Physical distribution issues include:
- transport
- warehousing
- inventory
Modes of Transport:
- Air
- Sea
- Rail
- Road
Relate to Dawn
As Dawn faces frequent breakage during transportation, the business could change mode of transport
