week 9

Question 1

why toys r us was under bankruptcy?

Answer 1

-too expensive
-consumers r moving into online
-technological advances. ipad>toys
-online is cheaper & more convenient

Question 2

a company/ brand prospers when…?

Answer 2

it can attract and keep customers

Question 3

brand vs brand name

Answer 3

a brand is like the whole personality of a company, including how it looks, what people feel about it, and what it stands for. the brand name is just the name of the company, like Apple or Nike.

so, while the brand is about everything that makes a company unique, the brand name is just one part of it. companies choose names that are easy to remember and fit what they do, but it’s all part of making people recognize and like the company.

Question 4

jennifer aaker

Answer 4

-invented concept of brand personality
-brend -> affects internal & external factors of the company
-maintain consistency across all factors

Question 5

brand personality ≠ tone of adevrtising

Answer 5

yay

Question 6

brand personality

Answer 6

-set of human characteristics attributed to a brand.
-helps a company shape the way people feel about its product
-elicits an emotional response, with the intention of inciting positive actions that benefit the firm

-!People love brands who have similar character to them, or one that we want to have

Question 7

5 brand personalities:

Answer 7

sincerity, excitement, competence, sophistication, ruggedness

Question 8

situation analysis

Answer 8

Analytic tool to assess the ______current______ status of the company and its brand to determine ______next steps__________

Question 9

4ps of marketing

Answer 9

price, place, product, promotion

Question 10

marketing mix

Answer 10

You can change the type of message you are sending out about your product/service by mixing different elements of each of the P’s

Question 11

The Marketing Mix: Product

Answer 11

-want to be seen as a unique brand– create unique image of products with limited selection.
-offering limited editions with luxury brands ->collaboration
-refers to the benefits of buying a product(quality, features, design)
-dependent on consumer needs/wants

Question 12

The Marketing Mix: Price

Answer 12

-Marketing is responsible for establishing the price of their service/product[Must consider the costs of all the inputs (materials, labour, etc)]

Question 13

mark-up price?

Answer 13

How much profit do you want to make on every - product/customer?

Question 14

advantages of direct distribution

Answer 14

-Direct relationship with the customer–Image building -> full profits goes to the brand
-Employees work for you – Control->have better knowledge on their products
-More profits
-Can offer special services
-Faster communication

Question 15

advantages of indirect distribution

Answer 15

-Broad network – More options (but, more competition) [convenience for customers- only have to visit 1 store]
-Established Channel (new brand)[consumers with no preference can scout to look for somth that interest them]
-easy access to potential customers[exposed to various brands to get the best option][compare prices across all brands]

Question 16

The Marketing Mix: Promotion. pull vs push?

Answer 16

pull:direct to customer
push:direct to dealers

Question 17

SWOT Analysis internal factors?

Answer 17

strengths and weaknesses

Question 18

The goal is to find that particular
____ ___ in the market where
the advertiser’s product or services
will ________

Answer 18

niche, fit

Question 19

to understand ur niche

Answer 19

-Put shared characteristic into categories (demographic, geographic, behavioristic, purchase behavior, psychographic_
-Identify people who are likely to be most responsive
-Develop rich descriptions of them to better understand and reach them with meaningful communication messages

Question 20

type of demographics?

Answer 20

Gender.
Age.
Race/ethnicity.
Education level.
Household characteristics. Employment status.
(similar demographics may have similar tastes/characteristics)

Question 21

types of psychographics?

Answer 21

-Personality traits.
-Personal values.
-Attitudes/opinions.
-Behaviors.
-Decision-making processes.

Question 22

why did people boycott the new coke?

Answer 22

ppl are afraid of changes. have emotional attachment to old coke.

Question 23

what is coca colas stregth and weakness?

Answer 23

consumer loyalty. change became their weakness as they neglected consumers loyalty.