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MKTG3307 Contemporary Marketing Issues > Week 6 Marketing Communication in Not-For-Profit Organizations > Flashcards

Week 6 Marketing Communication in Not-For-Profit Organizations Flashcards

1
Q

What is Business Marketing (Industrial/ B2B) ?

A

Marketing of goods and services to individuals and organisations for purposes other personal consumption.

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2
Q

An example of B2B?

A

Sale of pc to a college/uni

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3
Q

What are Business products for?

A
  1. Used to manufacture other products
  2. Facilitate an organisation’s purpose
  3. Resold to other customers
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4
Q

What are Consumer products?

A

Bought to satisfy an individual’s personal wants or needs.

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5
Q

What is the key characteristic distinguishing business products from consumer products?

A

Intended use and not physical form

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6
Q

What are the ways in which B2B firms use the internet?

A
  • 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.
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7
Q

Benefits of new applications?

A
  • Provide additional info about customers
  • Help lower costs
  • increase supply chain efficiency
  • Enhance customer retention, loyalty and trust.
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8
Q

Define Content Marketing.

A

Strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content.

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9
Q

Define Goal.

A

To attract and retain a clearly defined audience and drive profitable customer action.

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10
Q

What is the key to social media-based content marketing?

A

Creating compelling and useful content for customers

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11
Q

What are the metrics that are useful for increasing the success of a social media campaign?

A
  • Awareness
  • Engagement
  • Conversion
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12
Q

Define Awareness.

A

Attention that social media attracts.

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13
Q

Define Engagement.

A

Interactions between brands and audience through comments, retweets, shares, and searches.

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14
Q

Define Conversion.

A

Occurs when action is taken.

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15
Q

Why has Relationship Marketing become important?

A
  1. Customers have become more demanding
  2. Competition has become more intense
  3. Business suppliers use social networking sites to advertise themselves to businesses
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16
Q

How to gain repeat business?

A

Steady dialogue between the supplier and the customer needs to be maintained

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17
Q

List the types of Strategic Alliance.

A
  1. Licensing or distribution agreements
  2. Joint ventures
  3. Research and development consortia
  4. Partnerships
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18
Q

What is essential for an alliance to succeed?

A

commitment and trust

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19
Q

Define Relationship commitment.

A

Means that a firm believes an ongoing relationship with some other firms is so important that it warrants maximum efforts at maintaining indefinitely.

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20
Q

Define Trust.

A

Exists when one party has confidence in an exchange partner’s reliability and integrity.

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21
Q

Define Keiretsu.

A

Network of interlocking corporate affiliates.

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22
Q

What are the Major Categories of Business Customers?

A
  1. Producers
  2. Resellers
  3. Governments
  4. Institutions
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23
Q

Define producers.

A

Construction, manufacturing, transportation, finance, real estate, and food service firms

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24
Q

Define resellers.

A

Wholesalers and retailers

25
Q

Define Governments.

A

Federal, state, and local buying units

26
Q

Define Institutions.

A

Educational institutions, hospitals, churches, labor unions, fraternal organisations, civic clubs, foundations, and other nonbusiness organisations.

27
Q

List the nature of demand in business.

A
  1. Derived
  2. Inelastic
  3. Joint
  4. Fluctuating
28
Q

Define Derived.

A

Demand for business products results from demand for consumer products.

29
Q

Define Inelastic.

A

Demand for product not significantly affected by change in price.

30
Q

Define Joint.

A

Demand for multiple items used together in final product.

31
Q

Define Fluctuating.

A

Demand for business products is more volatile than for consumer products.

32
Q

Business vs. Consumer Markets.

A

Refer to Lecture Slides

33
Q

List the types of Major Business Products.

A
  1. Major equipment
  2. Accessory equipment
  3. Raw materials
  4. Component parts
  5. Processed materials
  6. Supplies
  7. Business services
34
Q

Define Major equipment.

A

Capital goods such as large or expensive machines, mainframe computers, airplanes, and buildings.

35
Q

Characteristics of Major equipment.

A
  • Depreciates over time and often custom-designed.

- Personal selling is an impt marketing strategy.

36
Q

Define Accessory equipment.

A

Less expensive and shorter-lived than major equipment.

37
Q

Characteristics of Accessory equipment.

A
  • Portable drills, power tools, microcomputers, and computer software
  • Advertising is an important promotional tool
38
Q

Define Raw Materials.

A

Unprocessed extractive or agricultural products, such as mineral one, lumber, wheat, corn, fruits, vegetables, and fish.

39
Q

Characteristics of Raw Materials.

A

-Promotion is almost always via personal selling, and distribution channels are usually direct from producer to business user.

40
Q

Define Component parts.

A

Either finished items ready for assembly or that need very little processing.

41
Q

Characteristics of Component parts.

A

There are 2 important markets for many component parts: the OEM market and the replacement market.

42
Q

Define Processed materials.

A

Used directly in manufacturing other products and do not retain their identity in final products.

-Sheet metals, chemicals and lumber.

43
Q

Define Supplies.

A

Consumable items that do not become part of the final product.

-Fall into categories of maintenance, repair, or operating supplies (MRO)

44
Q

Define Business services.

A

Expense items that do not become part of the final product.

-Includes janitorial, advertising, management consulting, marketing research, maintenance, and other services.

45
Q

List the aspects of business buying behaviour.

A
  1. Buying centres
  2. Evaluative criteria
  3. Buying situations
  4. Business ethics
  5. Customer service
46
Q

Who are the buying centres?

A

People in an organisation who become involved in the purchase decision.

47
Q

What are the roles in buying centres?

A
  1. Initiator
  2. Influencer/evaluator
  3. Gatekeeper
  4. Decider
  5. Purchaser
  6. User
48
Q

Define initiator.

A

suggest making a purchasing first

49
Q

Define influencer/evaluator.

A

helps define specifications and provide info for evaluating options.

50
Q

Define gatekeeper.

A

member of group members that regulates the flow of info.

51
Q

Define decider.

A

Person who has the formal or informal power to choose or approve the selection of the supplier or brand.

52
Q

Define purchaser.

A

Person who negotiates the purchase.

53
Q

Define user.

A

Member of the organisation that will actually use the product.

54
Q

What are the 3 evaluative criterias?

A
  1. Quality - technical suitability
  2. Service - prepurchase, postsale, and dependability of supply
  3. Price - business buyers want to buy at low prices
55
Q

What are the 3 buying situations?

A
  1. New buy - purchase of a product for the first time
  2. Modified rebuy - purchase involving some change in the og good or service
  3. Straight rebuy - purchase of the same goods or services without looking for new info or investigating other supplies
56
Q

To ensure superior customer service, firms must:

A
  • Divide customers into groups based on their value

- Create policies that govern how service will be allocated among groups

57
Q

Define chaos scenario.

A

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)
58
Q

Refer the lecture slides

A

for everything else.

MKTG3307 Contemporary Marketing Issues (9 decks)

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