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Marketing Strategy > Session 1-3 > Flashcards

Session 1-3 Flashcards

1
Q

What are the 4 p’s?

A

Product, price, place and promotion

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2
Q

What involves marketing as a philosophy?

A

Putting the customer at the centre of everything you do

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3
Q

Are marketing and strategy different?

A

No, not when companies are bundles of processes designed to deliver customer value. Because marketing is related to everything in the company

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4
Q

What are the 5 c’s in market forces?

A

Customers
Competitors
Company
Collaborators
Context

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5
Q

Product orientation belongs to which year?

A

1960’s

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6
Q

What is consumer orientated marketing?

A

Satisfying the consumer wants and needs with a profit.

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7
Q

What marketing are we moving towards?

A

Shared value

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8
Q

What 3 things should a mission statement involve?

A

Purpose to the company
Identity to the brand
Act as a catalyst for innovation at all levels

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9
Q

From what does financial performance not benefit?

A

Social responsibility

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10
Q

What belongs to the mindset of a sustainable marketeer?

A

Wants are influenced by a lot pf things like, culture and marketing
Resources are finite
We can’t pollute unlimited

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11
Q

What is demarketing?

A

Demand reduction

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12
Q

What is social marketing?

A

Marketing to change behaviour positively

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13
Q

What does csv stand for?

A

Shared value creation

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14
Q

What are the 3 keyways for companies to create shared value opportunities?

A

By reconceiving products and markets
By redefining productivity in the value chain
Enabling local cluster devleopment

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15
Q

What are 5 characteristics of regulation that enhance csv?

A

Set clear and measurable social goals
Set performance standards
Define phase in periods for meeting standards
Use universal measurement and performance reporting systems
Efficient and timely reporting of results

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16
Q

What are bad regulations to encourage csv?

A

Forces compliance with particular methods
Mandates a particular approach to meeting a standard

17
Q

What are the 4 principles of change management?

A

Be market driven
Be market driving
Anticipate reactions
Match external change with internal change

18
Q

What is boiling frog syndrome?

A

Slow change that is not noticed

19
Q

What does it mean to be market driven?

A

Track and respond to changes in te market

20
Q

What does it mean to be market driving?

A

Keep tight control of the change process

21
Q

What does horizontal resource allocation involve?

A

Across brands in the portfolio

22
Q

What does vertical resource allocation involve?

A

The allocation within brands in the portfolio, like distribution and communication

23
Q

What is the difference between the branded house and the house of brands?

A

Branded house = 1 brand name used everywhere
House of brands = a lot of different brands under 1 identical name

24
Q

Why do consumers like brands?

A

They know what kind of quality they are going to get

25
Q

In what parts of the bcg matrix do we invest?

A

Stars and questionmarks

26
Q

Why is de bcg not perfect?

A

It is an snapshot, does not reflect the whole picture.
Some brands need other brands to flourish

27
Q

What are 5 advantages of the bcg?

A

Easy to perform
Gives a quick overview
Good starting point
Everybody knows how it works
Clients expect it

28
Q

What are the 5 steps of the brand renewal matrix?

A

Identify brand portfolio
Assess brand contribution
Assess market position
Sort by strategic imperative
Make the brand portfolio plan

29
Q

Biggest problem with assesing brand contributions in the brm?

A

Some brands need other brands to flourish.

30
Q

What does brand traction mean?

A

How strong is the brand today

31
Q

What does brand momentum mean?

A

Where is the brand heading

32
Q

What are the strategic imperatives from the brm?

A

Power brand
Sleeper
Slider
Soldier
Rocket/ black hole
Wallflower
Discard

33
Q

What is a soldier brand

A

Everything is average, need a boost every few years

34
Q

What is a sleeper brand

A

Nothing wrong, only does not grow, push and promote the brand

35
Q

What are wallflower brands?

A

Not much to do with the brand, loyal customers. Keep pricing up

36
Q

What is the end goal of a cmo?

A

Profitable growth / comfortable growth

37
Q

What are financial performance benefits of shared value?

A

Enhances the firm value
Good for stakeholder endorsement
Risk mitigation
Improved innovative capacity

38
Q

What are externalities?

A

When firms create social costs that they do not have to bear.

39
Q

What are clusters?

A

Companies and infrastructure around it

Marketing Strategy (2 decks)

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