Quiz 2 Flashcards
Positioning
place your company occupies in customer mind
Sets foundation for marketing strategy
Crescent Pure Case Positioning
Third Positioning Option healthy and Organic Beverage
Value Proposition
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
Bouncin’ Babies Family and Fertility Clinic Positioning Statement
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.
Marketing Key Messages
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
Market Research Examples
Direct Observation Experiment Purchase data Survey Research Focus group Lapsed customer interview
Marketing Objectives
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
Marketing Strategy
How achieve objectives
Approach to achieve goals
Marketing Tactic
Action to execute strategy
Marketing Objective example
Sell 50% more fertility packs than last year
Marketing Strategy example
Team up with social media, editors, bloggers, provide info about packs and success rates and how they help families fighting infertility
Marketing Tactics example
Identify top fertility blogger, editors
Develop pitch and value proposition
Send free samples, ideas
Distribution Strategy
Direct sales education live seminars, workshops Partnership Retail brochures, pamphlets reception area of medical facility and non-competitive clinics
Price ceiling
willingness to pay
what will market bear
Price floor
what are our cost
don’t charge below
Factors affecting, influencing price
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
Pricing Innovation
Out perform competitors
Powerful source of competitive edge
Builds company profits, customer satisfaction
Different lifestyle and purchasing patterns of consumers
Pricing Innovation Examples
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
Pricing Matrix
Don’t allow price to exceed value
High price/ high value
Pricing Strategy
Costs
Competition
Demand
Brand Image
Forces affecting Industry Distribution Channels
factor that influence distribution strategy
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 strategyInbound Marketing
Generate qualified leads and convert them into sales
aka permission marketing, pull interested customer to you by providing relevant content online
Inbound marketing process
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
