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
‘Marketing communications’ is a more contemporary term for
‘Promotion’
Elements of marketing communications
- SET OF TOOLS: advertising, sales promotions
- MEDIA: TV, radio, internet, press and others
- MESSAGES: directed to target audiences
- DEVICES: desktop, smartphones, tablets, & others
Communication tools
- Advertising
- Public relations
- Sales Promotions
- Direct Marketing
- Personal Selling
Types of media
TV Print Digital In-Store Other
Devices
Desktop
Smartphone
Tablets
Others
Core types of messages
- Informational message
- Emotional message
- Branded content
- User-generated content
Buyer decision process (customer journey)
- PROBLEM RECOGNITION
- RESEARCH STAGE
- EVALUATION AND SEEKING ALTERNATIVES
- PURCHASE STAGE
- POST-PURCHASE STAGE
in the problem recognition stage
customer works out a need for something
for example, i need a pair of sneakers
in the research stage
customer goes online to research on different sneakers
they look for information on search engines and social media sites
in the evaluation and seeking alternatives stage
customer brainstorms on whether to get alternative shoes like boots. when they’ve decided, they seek out the best deals available depending on the budget
in the purchase stage
customer purchases product based on reviews, experience or research
on the post-purchase stage
customer reviews the product. did it deliver as promised?
if product delivers as promised, they become your brand ambassador.
if not, their negative comments deter other buyers from purchasing from you
A customer journey is
the story of a customer’s experience with a brand from initial contact through engagement at different touch points, a purchase, and finally a loyal long-term relationship.
Data collected comes from
the different interactions your customers have with your brand while they are moving along their journey.
Today’s customers use multiple devices, so it is important to
provide seamless experience with your brand across all devices
Customer journey phase VS Customer need
- phase: Awareness VS need: customers search for product they want
- phase: Desire & Choice reduction VS need: customers want information on stock availability and returning policy
- phase: Buying VS need: customers want delivery information
- phase: Returning VS need: customers appreciate the on-site and offline experience
- phase: Promoting VS customers expect over-delivery
in terms of interest & awareness (concepts)
social/search advertising email/text marketing loyalty programs youtube/video ads television billboard online display advertising newspaper/magazine radio word of mouth
in terms of search (concepts)
[types of search]
organic search PPC apps "near me" GPS
in terms of research (concepts)
Where do you research?
blogs & articles
reviews
social media
word of mouth
in terms of purchase (concepts)
website online booking purchase via app in-store purchase salesperson
in terms of experience (concepts)
post-purchase expectations VS reality social post write a review blog word of mouth
A customer journey map is
an important tool that gives you a comprehensive picture of the customer experience, leading to a full view of the different ways customers interact with your brand
What Components Does a Journey Map Include?
- PERSONAS: main characteristics that illustrate the needs, goals, thoughts, feelings, opinions, expectations, and pain points of the user;
- TIMELINE: a finite amount of time (e.g. 1 week or 1 year) or variable phases (e.g. awareness, decision-making, purchase, renewal);
- EMOTIONS OF CONSUMER
- TOUCHPOINTS: customer actions & interactions with the organization. This is the WHAT the customer is doing;
- CHANNELS: where interaction takes place & the context of use (e.g. website, native app, call center, in-store). This is the WHERE they are interacting.
Conventional (traditional/”push”) marketing
Traditional is a one-sided conversation:
- Continuous bombardment of marketing messages
- Can be disruptive if overused or used incorrectly
Examples of traditional media:
- TV ads
- Billboards
- Online ads in search results
- Direct mail
- Radio spots
- Flyers
- Cold-calling (telemarketing)
Successful brands (“inbound” marketing)
engage & listen to customers, & then respond in kind with appropriate & timely content.
They create relevant content that attracts customers, rather than just announcing sales or new products
Some common ways to use pull, or inbound marketing:
YouTube blogs forums eBooks online presentations on sites such as SlideShare Social networks
The key drivers that transform commercial communication in the digital environment are:
- INTERACTIVITY: engaging users, motivate them to co-create content, ads, messages, liking, sharing.
- INTEGRATION: blurring the lines of journalistic or entertainment content and commercial messages
- PERSONALIZATION: addressing individual consumer by using one-to-one marketing and behavioral targeting based on all forms of data available.
Empowered consumers hold the upper hand when it comes to making purchasing decisions
- MORE INFORMED. Can read honest reviews before making purchase decisions.
- MORE CONNECTED, with friends, family and brands by social networks and Instant messaging
- HAVE THE WORLD AT THEIR FINGERTIPS, literally. Technology has opened up a global marketplace for consumers.
- HAVE MORE CHOICES. Small businesses have been able to reach consumers by websites inexpensive to set up and social media
content marketing (definition 2)
When content meets or exceeds customer expectations, when it solves an issue or teaches the audience something new, when it’s adapted to what the consumer is looking for – we can speak of context marketing.
