Marketing Strategies Final

:)

Marketing Information Management

• Collecting and analyzing data about customers, competitors, and trends

Product/Service Management

• Designing, developing, branding, and packaging products or services

Pricing

• Deciding how much to charge based on costs, competition, and customer value

Promotion

• Communicating with customers to persuade and inform

Selling

• Building relationships and closing sales

Distribution / Channel Management

• How products move from producer to consumer

Market Planning

Identifying who the ideal customer is and how to develop a marketing mix to meet their needs and wants.

Demographics

• Measurable characteristics

  • Age, gender, income, education, occupation

Psychographics

• Attitudes and lifestyles

  • Values, interests, opinions, personality, lifestyle

Form Utility

• Turning raw materials into finished products

Information Utility

• Helping customers understand features, prices, or choices

Time Utility

• Making products available when customers want them

Place Utility

• Making products available where customers want them

Possession Utility

• Making it easy to buy or pay (payment options, delivery)

Task Utility

• Saving customers time or effort (ordering ahead, curbside pickup)

Marketing Mix (The 4 Ps)

• Decisions about what is offered (features, options, packaging)

• Decisions about cost and value (pricing, discounts, bundles)

• Decisions about how customers are reached (ads, social media, promotions)

• Decisions about how customers access the product (store, online, delivery)

Brand Awareness

• Customer recognizes the brand

Brand Preference

• Customer usually chooses the brand but may switch

Brand Insistence

• Customer refuses substitutes

Brand Ambassador

• Customer actively promotes the brand

Brand Rejection

• Customer actively avoids the brand

Brand Positioning

• How a brand is perceived compared to competitors

Perceptual Maps

•  Visual tools showing customer perceptions (often based on surveys)

Repositioning can happen by:

• Changing who the brand appeals to (target market or messaging)

• Changing the product itself

Advertising

•  Paid, non-personal communication (social media ads, commercials)

Sales Promotion

• Short-term incentives (coupons, BOGO, discounts)

Personal Selling

• Direct interaction with customers

Public Relations

• Managing brand image and reputation

Digital Marketing

• Social media, PPC ads, websites, influencers

Traditional / In-Person Marketing

• Events, posters, pop-ups, print materials

Integrated Marketing

• One channel drives the other (QR codes, social → in-store)

Influencer Marketing

• Using trusted individuals to promote brands

User-Generated Content (UGC)

•  Customers creating and sharing content

Cause Marketing

• Supporting a social cause connected to the brand

Pay-Per-Click (PPC)

• Paid ads where businesses pay per click

Experiential / Pop-Up Marketing

• In-person experiences and events

Steps of Selling Process

• Pre-Approach (research)

• Determining Needs (questioning)

• Presentation

• Handling Objections (price, time, need, authority)

• Closing

• Follow-Up

Key Performance Indicators (KPIs)

Measurable values tied to goals

• Examples: website traffic, conversions, sign-ups, sales by time of day

Conversion Rate

Customers who take action after clicking