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Good campaign - Marketing > Marketing Tactics > Flashcards

Marketing Tactics Flashcards

1
Q

Marketing tactics

A

4PS:

  • Product
  • Place
  • Promotion
  • Price
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2
Q

Product

A

Creating value by satisfying need or solving a problem.

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3
Q

Product levels

A
  • Core benefit: benefit the customer is really buying
  • Basic product: elements that deliver the benefit
  • Expected product: attributes normally expected from this product
  • Augmented product: attributes that exceed expectations
  • Potential product: possible upgrades the product might undergo
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4
Q

Types of products

A
  • Nondurable goods
  • Durable goods
  • Services
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5
Q

Promotion

A

Communicating with customers to influence their behavior.

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6
Q

Types of promotion

A
  • In-store
  • Contextual
  • Digital
  • Advertising
  • Direct
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7
Q

In-store promotion

A
  • Promotions
  • Placement (POS)
  • Promoters
  • Sampling
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8
Q

Contextual promotion

A
  • Events
  • Sponsorships
  • High-traffic areas
  • Sampling
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9
Q

Digital promotion

A
  • Display
  • Search
  • Social media
  • Email
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10
Q

Advertising promotion

A
  • TV
  • Radio
  • Print
  • Billboard
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11
Q

Direct promotion

A
  • Mailing list
  • Catalogue
  • Telemarketing
  • Personal selling
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12
Q

Consumer communication modes

A
  • Advertising (company-led): low credibility, high cost, high control
  • PR (media-led): medium credibility, medium cost, medium control
  • Word of mouth (consumer-led): high credibility, low cost, low control
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13
Q

Planning a communications campaign

A

6Ms:

  • Mission: what is the objective?
  • Market: to whom is it adressed?
  • Message: what are the specific points to be communicated?
  • Media: which vehicles will be used?
  • Money: how much will be spent?
  • Measurement: how will impact be assessed?
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14
Q

Place

A

Creating a pathway from producers to consumers

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15
Q

Push strategy

A

Uses producer’s sales force, trade promotion money, or other means to induce intermediaries to carry, promote and sell product to consumers.

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16
Q

Pull strategy

A

Uses advertising, promotion, and other forms of communication to persuade consumers to demand the product from intermediaries, thus inducing the intermediaries to order it

17
Q

Distribution modes

A
  • Exclusive: severely limits number of outlets
  • Selective: relies on only some of the willing outlets
  • Intensive: places the product in as many outlets as possible
18
Q

Multichannel marketing

A

Use of two or more marketing channels to reach customer segments in one market area, targeting either different segments or different need states within one segment.

19
Q

Integrated marketing channel system

A

Consistent selling strategies and tactics across multiple channels.

20
Q

Omnichannel marketing

A

Multiple channels work seamlessly together and match each target customer’s preferred ways of doing business (e.g. online and offline).

21
Q

Price

A

Capturing a part of the value created for customers.

22
Q

How to capture value?

A
  • Sell goods
  • Sell services
  • Sell subscriptions
  • Charge commission/transaction fees
  • License technology/brands
  • Leverage advertisement
  • Leverage sponsorships/donations
  • Hybrids (e.g. freemium)
  • …
23
Q

How to set prices?

A
  1. Princing objective
  2. Customer perspective
  3. Company perspective
  4. Competitor perspective
  5. Feasible price range
  6. Pricing method
  7. Price adaptation
24
Q

Pricing step 1

A

Pricing objective:

  • Maximum current price
  • Maximum market share
  • Maximum market skimming
  • Positioning statement
  • Survival
  • …
25
Q

Pricing step 2

A

Customer perspective:

  • Reference prices
  • Price endings
  • Price-quality
  • Demand elasticity
26
Q

Pricing step 3

A

Company perspective:

  • Fit to marketing strategy and tactics
  • Cost structure
27
Q

Pricing step 4

A

Competitor perspective:

  • Identify competitors and substitutes
  • Gather competition’s costs, prices, offers
  • Arrange in comparable form
  • Predict possible reactions
28
Q

Pricing step 5

A

Feasible price range: high price > ceiling price > customer’s assessment of unique features > orienting point > competitors’ substitutes ‘prices > costs > floor price > low price

29
Q

Pricing step 6

A

Pricing method:

  • Mark-up pricing (cost-based)
  • Value-based (perceived or actual)
  • Positioning-based (premium, lowest…)
  • Going-rate (market-based)
  • Auction-type
  • …

Good campaign - Marketing (5 decks)

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