Week 8-11: Execution (Communications) Flashcards
What are the 7ps of marketing
Product, price, place, promotion, people, process and physical evidence
Stages do consumer go through in adopting a NEW product.
Awareness - Interest - Evaluation - Trail - Adoption
Name three things associated with product
- core: understand the core customer need
- actual: identify what kinds of product attributes and features are critical to deliver on the core need
- augmented: determine what are the non-essential things that would add extra value to your offering
4 elements of service
- intangible
- inseparable
- perishable
- variable
Three main roles of price?
- To communicate value
- To support the brand
- To deliver financial results
Name the 4 pricing strategies
- customer value based pricing
- cost based pricing
- competitor based pricing
- price adjustment
What are the two broad strategies for pricing new products?
- market skimming
- market penetration
Provide examples of place
- online
- vending machines
- convenience stores
- supermarkets
- omni channel
- door to door
- referral marketing
What are the stages in the consumer decision making process?
Relevant consumer psychological processes
Clement talks communication. Please explain:
What users are most effect for agency
- light & media users consume more
State the loyalty loop
- total addressable market (TAM) how many people sell to, share of the market, where do we actually have somewhere to sell
- below the line - activation, experience, test drive
- owned, paid, shared, earned media (how brand is communicate)
state the same promotion options
advertising, PR, sales promotion (coupons), personal selling, digital tools
Constructing your promotion mix
What are the 3E’s framework
- Expression - vision - employee centric
- Experience - customer journey
- Enablement - interactions/transaction
How is marketing dynamic
- traditional marketing
- digital marketing
- ecommerce
- customer experience
Explain the customer touch point
- Awareness (events i.e black fri, media)
- Consideration (social i.e. insta/FB, reviews)
- Conversion (SEM, affilates)
- Loyalty (APP, email, rewards)
- Advocacy (NPS, UCG)
Explain: Ecommerce is not an industry; ecommerce is a tactic.
- Customer centric approach: Begin with the customer, the channel (channel is the output) & Prioritize understanding your audience.
- Data driven decision making.
- Customer tailored content
- 3 clicks max more =NPS
- Streamline the user experience & personalisation
Marketing is knowing what to do with data
- Email Marketing and Automated Journeys
- Referral Marketing
- Offers and Discounts
- Sticky Customer Engagement
- A/B Testing
- SMS Marketing
· Reach customer through text messaging.
· Use SMS for timely promotion and updates.
Paid vs Organic
Organic marketing focuses on attracting traffic for free while paid marketing involves paying for traffic.
What is sticky customer?
consumer uses business for many avenues - helps build relationships
Sales & marketing
sale side: our brand vs
customer, category, shopper
consumer - unique selling, primary target
shopper - might not be same as consumer ie. buy meds for parents
customer - i.e. woolies has business objectives - align brand with customer
differentiate marketing, sales and suppy
marketing: understand consumer and shopper
sales: what products to sell to which customer
supply: shipping in time and enough stock
