Topic 1 Flashcards
marketing classification according to the exchange relationship
- commercial marketing
- non-profit marketing
- public marketing & of public services
types of non-profit marketing
- SOCIAL MARKETING (NGOs, public social programs)
- MUTUALISTS (sports club, professional association)
- POLITICAL & ELECTORAL MARKETING
- SIMILAR REGIME TO COMPANY (university/hospital)
characteristics of services VS goods
SERVICES
intangibility
expiration
inseparability of use - consumption
GOODS
tangibility
storage capacity
standardization
Recently, there has been a shift from
product to customer centricity
Technological improvements have
reduced the life cycle of products so it became hard to maintain a competitive advantage to product innovation only.
Moreover, it has empowered considerably customers & firms that can access to real data & better target customers.
model “one to many”
called Campaign business
model “many to many”
called Conversion Business
Context marketing (definition 1)
ability to deliver the right content or experience to the right person, in the right place, & at the right time based on the sum total of that person’s past brand interactions & current needs
brand redefinition
Brands are being redefined depending on how they relate & engage their clients, how relevant they are & if they take their clients into account.
Marketing 360
Online
Offline
Mobile
All the time
Content is king
- Marketing as conversations
- Content curation
- Death of the “campaign gamification”
Entertainers
“communities marketing”
not families
not individuals
transparency
From mad men to math men
- ROI is king
- Analytics
- Big data
definition of communication
process of sending & receiving messages through verbal or nonverbal means including:
- speech / oral communication
- writing / written communication
- signs, signals & behavior
more simply, communication is said to be
the creation & exchange of meaning
Communication Process (linear model)
Sender→Message→Channel medium→Receiver
definition of marketing communications
process through which an organisation attempts to engage with its various audiences, by conveying messages that are of significant value
Audiences are encouraged to offer attitudinal and behavioural responses.
Integrated marketing communications
the elements of the communications mix are integrated into a coherent whole