Principle of online and off line marketing Flashcards
what are the 4 original marketing mix
product, price, place promotion
3 added marketing mix
people, process, physical evidence
product
this is your ‘offer’. Either goods or services depending on company. Businesses may use ‘product approach’
price
The amount a product costs. Covers discounts, special offers, and payment terms. Anything to do with how a customer purchases your product.
place
where and how customers purchases your product.
Promotion
How we tell the world about us and what we offer. Branding, advertising, social media, exhibitions, PR, corporate identity - all main factors.
people
‘people buy form people’. Customers should enjoy every interaction they have with staff and your previous customers.
Process
buying a product shouldn’t be stressful. Invest in people and systems for success.
Physical evidence
Ensuring you project the right impression to your customers, addressing any issues they may have. ‘seeing is believing’
Align
complement or help achieve in some way
Company Vision
what your company’s main purpose is. Often expressed as a mission statement.
SMART stand for
Specific, Measurable, Achievable, Realistic and Time-bound.
what’s a mission statement
A mission statement is created to explain why an organisation exists. Guides company priorities, activities and responsibilities.
Vision
Often we use a company due to the value they demonstrate and stand for. These are outlined in the company’s vison.
Value
Value proposition will explain how your products solves customer’ problems, delivers specific benefits and tells the customer why they should buy form you and not the competitor. The value will solve customer problems.
Collaboration
when two or more parties come together to achieve a shared objective.
What are the nine team roles
Resourceful investigator
Teamwork
Co-ordinator
Plant
Monitor evaluator
Specialists
Shaper
Implementer
Completer finisher
Resource investigator
Uses their inquisitive nature to find ideas to bring back to the team.
Strengths: outgoing, enthusiastic, explores opportunities and develops contacts.
Weaknesses: over-optimistic, loses interest once initial enthusiasm has passed.
May forget to follow up on leads.
Teamworker
Helps team to gel, using versatility to identify what needs to be completed
Strengths: co-operative, perceptive, diplomatic, listened and averts friction.
Weaknesses: indecisive, avoid confrontation
Hesitates to make unpopular decisions.
Co-ordinator
Needed to focus on the team’s objectives, draw out team members and delegate work appropriately. Strengths: mature, confident, identifies talent, clarifies goals.
Weaknesses: manipulative, offloads work onto others - over delegate leaving themselves little to do
Plant
Tends to be highly creative and good at solving problems in unconventional ways.
Strengths: creative, imaginative, free-thinking, generates ideas, solves difficult problems. Weaknesses: ignore incidentals, too preoccupied to communicate effectively.
can be absent-minded or forgetful.
Monitor evaluator
Provides a logical eye, making impartial judgement where required and weighs up the teams options and judges accurately.
Strengths: sover, strategic and discerning, sees all options and judges accurately.
Weaknesses: lacks drive and ability to inspire others, overly critical. - slow to come to decisions
Specialists
Brings in depth knowledge of a key area to the team. Strengths: single-minded, self starting and dedicated, provide specific knowledge and skills.
Weaknesses: contributes on a narrow font, dwells on technicalities. - overload you with information
Shaper
Provides necessary dive to ensure that the team keeps moving and does not lose focus or momentum. Strengths: challenging, dynamic, thrives on pressure, drives and courage to overcome obstacles. Weaknesses: provocation, offends people’s feelings. - risk becoming aggressive and bad humoured in their attempts to get things done.
Implementer
Needed to plan a workable strategy and carry it out as effectively as possible.
Strengths: practical, reliable, efficient, turns ideas into action and organises work that needs to be done.
Weaknesses: inflexible, slow to respond to new possibilities. - slow to relinquish plans in favour of positive change.
Completer finisher
Most effectively used at the end of the task to polish and scrutinise the work for errors, subjecting it to the highest standard of quality control.
Strengths: painstaking, conscientious, anxious, searches out errors, polish and perfect.
Weaknesses: worry unduly, reluctant to delegate. - taking their perfectionism to extreme.
Thought leader
Influencer
Professional influence: dentist adverts - someone who is a professional in the industry
Peer to peer influence: targeting those who post a positive message to social following - like an amazing stay somewhere in a hotel/ restaurants - don’t always know them, they are your peers on socials.
Buzz/ viral marketing is creating an event or experience that yields conversations about the product/brand. Viral marketing is the process of consumers marketing the product/brand on your behalf. Often through engaging content.
Interdisciplinary
Relating to more than one branch of knowledge. Don’t have to be unrelated e.g. two sciences (bio and chem)
Explanatory
serving to explain something
4 phases of negotiation:
preparation
propose
bargain
commit
Preparation
know what you want – may use the WIN analogy – Want to get (best result), Intend to get (what you think is achievable), Need to get (minimum). May refer to these as gold, silver and bronze targets.
Propose
Make the first proposal whenever you can (normally the successful negotiator proposes first) – keep the offer brief and aim high (gold). Be ready for a counter proposal.
Bargain
Begin the negotiation – try adding value to your offer – rather than removing price. Conditional offers (if you do this, I will do this…)
Commit
Essentially this phase is when a deal is struck. Thinking back to the WIN analogy – all three outcomes are positive.
What should Feedback
Immediate
Descriptive
Specific
Immediate
The immediate feedback makes learning more meaningful. In this way, the results are more efficient.
Descriptive
Defining well what they have done and how they have done it without evaluations or prejudice.
Specific
It has to be appropriate, adjusted to the task that the student is doing.
What is customer lifecycle
this is the various stages customers go through before, during and after they complete a transaction
What are the stages of a customer lifecycle
Awareness
Nurturing
Desire
Purchase
Support
Loyalty
Advocacy
Awareness
first stage getting customer interest, usually through standard marketing tools.
Nurturing
involves building relationships with potential customers. (signing up for mailing list/ following socials)
Desire
this means their in the buy sate. They are actively looking for a product/service.
Purchase
Purchase
