Week 4 Quiz Flashcards
The 4 Ps of Marketing
Product, Place, Price, Promotion
The 3 Additional Ps of Marketing
People, Planet, Profit
How do advertisers promote a product?
Through broadcast media, print media, internet, brochures
How do public relations promote?
Community relations, media interviews, sponsorships, events
What years was the research era?
1950s
What was the research era known for?
Professional organisations established
Research techniques adopted
Use of interviews, focus groups
What years was the accountability era?
1980s
What was the accountability era known for?
Effective ads leads to sales
Emphasis on research, testing and evaluation
Computers enabled data capture and storage
Saw the rise of direct marketing/mail, customer relationship management software
What decade was the integrated marketing communications era
1990s
What was the Integrated Marketing Communications era known for?
Recognition of communication complexity
Integrating promotional activity is more effective
Interactive era years
21st century
Interactive era key points
Consumers select, comment on, make own advertising
Web 2.0, then web 3.0 (real time communication, integrated content and communication)
Then the addition of the anytime, anywhere access of The Cloud (Web 4.0)
Marketing Plan Components
Set marketing objectives
Selecting target marks
Developing marketing mix strategies
SWOT Analysis
Strengths, Weaknesses, Opportunities, Threats. Internal Factors: Strengths, Weaknesses External Factors: Opportunities, Threats Favourable: Strengths, Opportunities Unfavourable: weaknesses, threats
PESTL analysis
Political, Environmental, Societal, Technological, Legal
PESTL analysis is keeping up to date with what is happening in the external environment of society.
