Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Marketing Management > Session 6 > Flashcards

Session 6 Flashcards

1
Q

What should brands use new media for?

A
  1. Communicating a clear promise to the customer
  2. Deliver in that promise to build trust
  3. Keep improving on your promise
  4. Innovate beyond the familiar
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What are the strategies of social media brand building

A
  1. Stick to your brand promise and let it guide your decisions
  2. SM should be mostly used for gaining insight into customer needs and preferences
  3. SM messages should be authentic and relevant first – funny second
  4. Companies must comply with the unwritten SM rules
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How do successful companies operate in the new media age

A

By exploiting opportunities generated by social media while keeping an eye on their brand promise.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Why should companies focus on apps, not adds

A

Over 80% of time on phones is spent on apps, ads are ineffective

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How do brands succeed in conquering that limited space

A
  1. Add convenience:
  2. Offer unique value
  3. Provide social value
  4. Offer incentives
  5. Entertain
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

How can apps add convenience and what are the constraints?

A

By providing customers with access to information/services more quickly than through browser. Constraints:
1. Ineffective customer acquisition
2. More viable for larger brands
3. Increasing difficulty to differentiate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How do apps provide social value?

A

They can provide features that improve connections between friends.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How can neuroscience aid marketing?

A
  1. Identifying mechanisms
  2. Measuring implicit processes
  3. Dissociating between psychological processes
  4. Understanding individual differences
  5. Improving predictions of behavior
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Challenges of neuroscience

A
  1. Only informs about understanding of brain patterns and not about consumer behavior
  2. Mostly uses backward inference to identify psychological processes
  3. Small sample sizes makes studies less reliable
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What is backward-inference

A

Scientists reason backward from brain activation to what caused parts of the brain to activate.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are the common goals of promotion?

A
  1. Make offering attractive
  2. Create product awareness
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are the three layers of promotion?

A
  1. Commercials
  2. Advertising
  3. Marketing communications
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What is a creative brief?

A

Document including background info on brand, prduct, category, segment etc.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What is the process of creating a marketing campaign?

A
  1. Manufacturer creates positioning statement
  2. Creative brief is created by account manager of ad agency
  3. Creative team proposes campaign
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are the key elements of effective market communication?

A
  1. Time horizon (planning period)
  2. Target (who to reach)
  3. Communication task (message)
  4. Effect wanted (desired change)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What is the marketing communication mix?

A
  1. Advertising: ads, billboards, packaging, product placement etc.
  2. Consumer promotions: samples, gifts, couons, games
  3. Events And experiences
  4. Public relations (image and associations with brand)
17
Q

Describe the customer purchase funnel/journey?

A
  1. Awareness of product/need
  2. consideration
  3. preference
  4. purchase
  5. loyalty
  6. advocate
18
Q

What are common advertising objectives?

A
  1. Increase awareness of product/need
  2. Consideration phase through comparison and differentiation. More competition means more important
  3. Remind (repeat) for mature product to keep associations alive
19
Q

What are common marketing communication goals?

A
  1. Transmit information
  2. Achieve image goal (improve and create associations)
  3. Influence consumer behavior
20
Q

What is product placement?

A

Ad is placed in other form of entertainment/communication

21
Q

What is native advertising?

A

This type of advertising seems to come from an objective source, but this source is often being paid to advertise

22
Q

Why does self=reports have limitations about reporting on metal states and processes

A
  1. Inability to identify mental states and processes
  2. People don’t want to report mental states
  3. People can’t predict own future behavior
  4. Mental state questions themselves influence behavior
23
Q

What are the limitations of behavioral observations?

A
  1. Behavior could arise from different mental processes
  2. Different behaviors may arise from similar processes

Neuroscience gives insight into those mental processes

24
Q

What is the consumer neuroscience?

A

Study of consumer behavior via neuroscientific methods

25
Q

What is neuromarketing?

A

Commercial use of neuroscience to better understand customer responses to marketing efforts

26
Q

What is temporal resolution

A

Changes in brain activity over time

27
Q

What is spatial resolution?

A

Image of which parts of the brain respond to which stimuli

Marketing Management (6 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions