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Business Marketing > Quiz 2 > Flashcards

Quiz 2 Flashcards

1
Q

Positioning

A

place your company occupies in customer mind

Sets foundation for marketing strategy

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2
Q

Crescent Pure Case Positioning

A

Third Positioning Option healthy and Organic Beverage

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3
Q

Value Proposition

A 
Pain alleviating
Multiside marketing
2 side marketing
2 distinct groups
Sell ads, cost covered by advertisers
eg Uber, driver(make the most of your time and business) is customer and
 rider (call the shots on every ride) is a customer too
Primary and secondary market
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4
Q

Bouncin’ Babies Family and Fertility Clinic Positioning Statement

A

Women and Men between ages 25 - 50 fighting infertility. Bouncin’ Babies is the only brand among all fertility clinics that help create a family and care the family because we offer comprehensive services by a team of highly qualified professionals that specialize in natural and traditional fertility remedies as well as health team comprising of Radiologist, Pediatrician and Family Practice MD.

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5
Q

Marketing Key Messages

A

Empower families in deciding a customized fertility plan by offering traditional and natural fertility methods

Revive hope to couples who are desperate to create a family by
testimonials success rate, fertility education and financial flexibility

Provide comprehensive care for the families we create by
offering Pediatric, Radiology and Family Practice MD

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6
Q

Market Research Examples

A 
Direct Observation
Experiment
Purchase data
Survey Research
Focus group
Lapsed customer interview
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7
Q

Marketing Objectives

A 
Tied to Business Objectives, budget
gives purpose, sets direction, provides road map for marketing efforts and spending
Launch
Awareness level, Consideration, Trial
Self setting goals
Specific, measurable, time bound goals
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8
Q

Marketing Strategy

A

How achieve objectives

Approach to achieve goals

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9
Q

Marketing Tactic

A

Action to execute strategy

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10
Q

Marketing Objective example

A

Sell 50% more fertility packs than last year

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11
Q

Marketing Strategy example

A

Team up with social media, editors, bloggers, provide info about packs and success rates and how they help families fighting infertility

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12
Q

Marketing Tactics example

A

Identify top fertility blogger, editors
Develop pitch and value proposition
Send free samples, ideas

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13
Q

Distribution Strategy

A 
Direct sales
 education
 live seminars, workshops
Partnership
Retail
  brochures, pamphlets reception area of medical facility
and non-competitive clinics
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14
Q

Price ceiling

A

willingness to pay

what will market bear

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15
Q

Price floor

A

what are our cost

don’t charge below

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16
Q

Factors affecting, influencing price

A 
Competition price
Customer characteristic
Credit terms and purchase discounts
Customer expectation
Market forces
Product or Service cost
Sales volume
Company image
Seasonal fluctuations
Customer price sensitivity
Substitute products
17
Q

Pricing Innovation

A

Out perform competitors
Powerful source of competitive edge
Builds company profits, customer satisfaction
Different lifestyle and purchasing patterns of consumers

18
Q

Pricing Innovation Examples

A

Value creation and Value Capture
Value based pricing = what is the value pple are willing to pay
Auctioning = What is highest bidder eg. amazon
Name your own price =
Pay whatever you want =
Demand driven pricing = search pricing
Bundling and unbundling = own your own home insurance
Whole pricing

19
Q

Pricing Matrix

A

Don’t allow price to exceed value

High price/ high value

20
Q

Pricing Strategy

A

Costs
Competition
Demand
Brand Image

21
Q

Forces affecting Industry Distribution Channels

factor that influence distribution strategy

A 
Goal is spot gaps and opportunities
Customer wants and needs
    what do customer buy
    how do they buy
    why do they buy
Channel capabilities and costs
   speed of delivery
   service warranty
   costs and margins evolved
Channel Power and Influence
   how has power shifted among manufacturer, distributor, retailer, vendors
  who has gained and lost power and why
Competitive Postures and Actions
  Who is the dominant player
  The most profitable
  what are their channel strategy
22
Q

Inbound Marketing

A

Generate qualified leads and convert them into sales

aka permission marketing, pull interested customer to you by providing relevant content online

23
Q

Inbound marketing process

A

attract - strangers interested with your content
convert - they read interesting relevant blog, webinar, viral video, instructional video
close - follow up with email, specials
delight - marketing automation, smart content they become promoters by sharing with others

Business Marketing (2 decks)

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