Week 6 Marketing Communication in Not-For-Profit Organizations Flashcards
What is Business Marketing (Industrial/ B2B) ?
Marketing of goods and services to individuals and organisations for purposes other personal consumption.
An example of B2B?
Sale of pc to a college/uni
What are Business products for?
- Used to manufacture other products
- Facilitate an organisation’s purpose
- Resold to other customers
What are Consumer products?
Bought to satisfy an individual’s personal wants or needs.
What is the key characteristic distinguishing business products from consumer products?
Intended use and not physical form
What are the ways in which B2B firms use the internet?
- Company website to facilitate communication and orders
- Digital marketing to increase brand awareness and to position their businesses as thought leaders so as to generate sales leads.
Benefits of new applications?
- Provide additional info about customers
- Help lower costs
- increase supply chain efficiency
- Enhance customer retention, loyalty and trust.
Define Content Marketing.
Strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content.
Define Goal.
To attract and retain a clearly defined audience and drive profitable customer action.
What is the key to social media-based content marketing?
Creating compelling and useful content for customers
What are the metrics that are useful for increasing the success of a social media campaign?
- Awareness
- Engagement
- Conversion
Define Awareness.
Attention that social media attracts.
Define Engagement.
Interactions between brands and audience through comments, retweets, shares, and searches.
Define Conversion.
Occurs when action is taken.
Why has Relationship Marketing become important?
- Customers have become more demanding
- Competition has become more intense
- Business suppliers use social networking sites to advertise themselves to businesses
How to gain repeat business?
Steady dialogue between the supplier and the customer needs to be maintained
List the types of Strategic Alliance.
- Licensing or distribution agreements
- Joint ventures
- Research and development consortia
- Partnerships
What is essential for an alliance to succeed?
commitment and trust
Define Relationship commitment.
Means that a firm believes an ongoing relationship with some other firms is so important that it warrants maximum efforts at maintaining indefinitely.
Define Trust.
Exists when one party has confidence in an exchange partner’s reliability and integrity.
Define Keiretsu.
Network of interlocking corporate affiliates.
What are the Major Categories of Business Customers?
- Producers
- Resellers
- Governments
- Institutions
Define producers.
Construction, manufacturing, transportation, finance, real estate, and food service firms
Define resellers.
Wholesalers and retailers
Define Governments.
Federal, state, and local buying units
Define Institutions.
Educational institutions, hospitals, churches, labor unions, fraternal organisations, civic clubs, foundations, and other nonbusiness organisations.
List the nature of demand in business.
- Derived
- Inelastic
- Joint
- Fluctuating
Define Derived.
Demand for business products results from demand for consumer products.
Define Inelastic.
Demand for product not significantly affected by change in price.
Define Joint.
Demand for multiple items used together in final product.
Define Fluctuating.
Demand for business products is more volatile than for consumer products.
Business vs. Consumer Markets.
Refer to Lecture Slides
List the types of Major Business Products.
- Major equipment
- Accessory equipment
- Raw materials
- Component parts
- Processed materials
- Supplies
- Business services
Define Major equipment.
Capital goods such as large or expensive machines, mainframe computers, airplanes, and buildings.
Characteristics of Major equipment.
- Depreciates over time and often custom-designed.
- Personal selling is an impt marketing strategy.
Define Accessory equipment.
Less expensive and shorter-lived than major equipment.
Characteristics of Accessory equipment.
- Portable drills, power tools, microcomputers, and computer software
- Advertising is an important promotional tool
Define Raw Materials.
Unprocessed extractive or agricultural products, such as mineral one, lumber, wheat, corn, fruits, vegetables, and fish.
Characteristics of Raw Materials.
-Promotion is almost always via personal selling, and distribution channels are usually direct from producer to business user.
Define Component parts.
Either finished items ready for assembly or that need very little processing.
Characteristics of Component parts.
There are 2 important markets for many component parts: the OEM market and the replacement market.
Define Processed materials.
Used directly in manufacturing other products and do not retain their identity in final products.
-Sheet metals, chemicals and lumber.
Define Supplies.
Consumable items that do not become part of the final product.
-Fall into categories of maintenance, repair, or operating supplies (MRO)
Define Business services.
Expense items that do not become part of the final product.
-Includes janitorial, advertising, management consulting, marketing research, maintenance, and other services.
List the aspects of business buying behaviour.
- Buying centres
- Evaluative criteria
- Buying situations
- Business ethics
- Customer service
Who are the buying centres?
People in an organisation who become involved in the purchase decision.
What are the roles in buying centres?
- Initiator
- Influencer/evaluator
- Gatekeeper
- Decider
- Purchaser
- User
Define initiator.
suggest making a purchasing first
Define influencer/evaluator.
helps define specifications and provide info for evaluating options.
Define gatekeeper.
member of group members that regulates the flow of info.
Define decider.
Person who has the formal or informal power to choose or approve the selection of the supplier or brand.
Define purchaser.
Person who negotiates the purchase.
Define user.
Member of the organisation that will actually use the product.
What are the 3 evaluative criterias?
- Quality - technical suitability
- Service - prepurchase, postsale, and dependability of supply
- Price - business buyers want to buy at low prices
What are the 3 buying situations?
- New buy - purchase of a product for the first time
- Modified rebuy - purchase involving some change in the og good or service
- Straight rebuy - purchase of the same goods or services without looking for new info or investigating other supplies
To ensure superior customer service, firms must:
- Divide customers into groups based on their value
- Create policies that govern how service will be allocated among groups
Define chaos scenario.
A mass exodus from the traditional broadcast media due to:
- audience fragmentation
- consumer’s desire to control their information environment
- availability of ad-avoidance technology (pop-up blockers; netflix type subscription models)
Refer the lecture slides
for everything else.
