quiz 3 foundations of marketing

General objectives

Create response, encourage purchases

Crowdsourcing

audience functions as employees it is two way engagement, e.g vegemite name change from competition

Electronic messaging

• less wasteful

• highest percentage

• better bargain

• effective in generating watermark buzz

• viral marketing

Internal mail lists

house list comes from feedback from promotions, registrations and compiles customer contact information

External mail list

other companies house list that are paid for

Franchise building long term

this includes mastercard programs like colse and it increases brand loyalty

non-franchise building short term

special discounts incentives no real opportunity to increase loyalty

Push strategy

Focuses on "pushing" products through the distribution channel by promoting them to retailers and wholesalers, encouraging them to stock and sell the product, rather than directly targeting consumers. Gain trade support and increase inventory

Pull strategy

focuses on increasing consumer demand for a product, thereby "pulling" customers to retailers who then stock the product consumer focused

Experiential marketing

involves giving the opportunity to try the product used in conjunction with sales promotion and sampling

proximity marketing

identifies possible targets

Sweepstakes

random drawing of winners

contest

consumers must perform a specific task or is skill based

game

used to generate repeat purchases

Overlay program

use two or more sales promotion techniques

Tie in promotions

simultaneous promotion of multiple brands in a single promotional effort

Sale spike metrics

sale, market share, return on investment

Elements of sales promotion

• free gifts

• sampling

• discounts

• joint promotions

• vouchers and coupons

• buy one get one free

• customer loyalty

Advantages of direct marketing

• measurable results

• targeted audience reach

• cost effectiveness

Disadvantages of direct marketing

• Perception of Intrusiveness

• Limited reach compared to brand marketing

• resource intensive