Kaarten: MARKETING ICHEC BILINGUE | Quizlet

MICRO MARKETING strat

"one to one marketing" (Ultimate level of segmentation)

Innocent

Retain/renew faith (cocacola)

To make good marketing decisions company should take into consideration

1)desire of consumers

2) its own imperatives

3)Long-term well being of customers and general welfare of population

SOCIETAL MARKETING PERSPECTIVE

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5 questions do define the mission

1) who are we ?

2) What are the cost. ?

3) what's our philosophy ?

4) what are our core competencies ?

5) what are our responsibilities ?

Cost leadership strategy

aims to be the lowest-cost producer in the industry

Blue Ocean Strategy

create a new strategic space

avoid competition

create/conquer new demand

break free from tradeoff

align all the company's activities by removing internal obstacles

Trademark

sign used to distinguish the product

Production is the heart of the company's policy

Production oriented approach

product mix/portfolio

Set of all products lines that a company sells

Number of versions of each product

Depth

Selling price

amount needed to obtain

Cost based pricing strategy

Design, determine cost, set price based on cost, convince buyers

Functions of distribution

Transport

Storage/availability

Demand aggregation

Assortment

Communication

Financing

Cust. service

Channel intermediaries

Producer

Wholesaler (sell for people who resale)

Retailer (sells directly to cust.)

Consumer

Channel level

Layer of intermediaries that brings the product to the buyer

(The number of intermediary levels indicate the length of a channel)

Producer to consumer

Direct marketing channel

3 objectives of communication

1- Drive awareness

2- Drive engagement

3- Generate actions

Above the line promo

(tv, radio, internet

Disruption

Surprise to get attention

Marketing

Means of actions that organisations uses to influence the behavior of the audiences on whom they depend in their favor

marketing aims to

create economic value for a company by generating Perceived value among consumers

Value

depends on the context, consumption occasion, packaging...

Marketing increase

the value of a product beyond his tangible value

Market

Where supply meet demand in the purpose of an exchange

5 majors factors

1Clients

2Producers

3Distributors

4Influencers

5Institutions

Strategy of influences

1) Reciprocity

2) Principle of consistency

3) Social proof

4) Likability

5) Authority

6) Scarcity

Needs

elements necessary for survival (food)

Desires

Specific way of fulfilling a need (fast food)

Luxury

Scarcity/value ---) give birth to desire

Marketing applies to different markets (5)

1) Consumer market

2) Business-to-business market

3) International market

4) Public market

5) Non profit market

produit de grande consommation

FMCG fast moving consumer good

consumer selects products based on price/availability

production perspective

consumer doesn't buy enough --) purchase need to be stimulated

Sale perspective

OBJ : Generate a sufficient volume of sales

efficiency of a company lies to it's ability to provide value to it's customers

Marketing perspective

OBJ ; customer satisfaction

digital marketing

all marketings efforts that use an electronic device/internet

temporary, deleted when user close browser

session cookies

they remain on the computer, even after closing the browser

they have a specified lifespan

persistant cookies

marketing 1.0

offre - vendre

Marketing 2.0

consommateur - engager

marketing 3.0

experience - satisfaire

marketing 4.0

data - anticiper

Key characteristics of marketing 4.0

1) customer-centric (deep understanding of customers needs through data analyses)

2) Data utilization (exploit data trough analyses, IA,.. to make better decisions)

3) Social media engagement (used to interact, get feedback, build a community)

4) Quality content (creating relevant, high quality to capture attention)

5) Automated marketing (integrate automatic tools to optimize campaigns, manage workflows, measure performances)

Consumer behavior study

aims to analyze how individuals, groups and org. choose, purchase and use goods, services, ideas or experiences to satisfy their needs and desires

psychological variables

NEEDS, MOTIVATIONS, ATTITUDES

personnel sociological cultural variables

family, gender, age occupation

social group

social classes

lifestyle

culture

Strategy

define realistic guidelines to achieve.

In face of designated adversaires

policy

set of decisions adopted in advance to achieve objectives

plan

list of specific actions w/ dates, ressources and descriptions of means required

Corporate level

highest level of corporate strategy

- concern the entire group

- Determine in which activities to be involved and what strategy of development to adopt

business unit

-take the form of a group/company. w/ own objectives/ressources

-decisions align w/ the overall group

-On which market to be present ?

competitive advantage

decisive and durable competence

- enhance the competitive position and leads to higher profitability

Product definition v/s Market definition

ex : We sell coffee and snack v/s

We inspire and nurture the human spirit

Bottom up

ensuring that the objectives sets contribute to the mission

Strategic vision

is a clear set of actions to achieve medium/LT goals in face of competitors

Porters forces (5)

1) New entrants : low entry barriers --) more competitors, to reduce, entry barriers/market share defense

2) substitutes : (high speed train v/s plane, car,...)

3) suppliers : can increase price and dictate terms to cust.

4) customers : can exerce pressure, comp depend of them

5) competitors : can put pressure, affect the entire market

differentiation strategy

offering unique/distinctive product (justify a increase of price)

Focus strategy

Become an expert in a specific market/segment

Red ocean strategy

act in existing strategic environment

win over comp

exploit current:existing dmd

accept trade offs

align all the company's activities W/ differenciation or leadership

Control process (3 steps)

Defining forecast/key indicators

comparing actual situation w/ forecast

taking measures to correct actions

STP marketing

SEGMENTATION dividing market into groups of buyers (xx!!oo)

TARGETING evaluating each market segment's attractiveness (!!)

POSITIONING arranging for the product to occupy a clear, distinctive and desirable place

How to segment ? (5 critères)

-Geographical (location, population, density)

-Demographic (age, gender, income)

-phychographic (lifestyle, activities,interests,opinions)

-Behavioral (status, loyalty, quantity consumed,...)

-desired benefit

Targeting

evaluating each market segment's attractiveness and selecting

Target market

buyers who share common needs/characteristics

MASS MARKETING strat

firm ignore segment differences, make 1 offer for the whole market

SEGMENTED MARKETING strat

Firm select a subset of all the possible segments

Positioning

Strategic choice of positioning in its market/mind of cust.

A brand

Name and set of signs that indicate the origin of the offer

Create value for the company

Brand signage

signs that enable cust. to recognize the brand

Brand emblems

logo, name, graphisme, packaging, design

Name qualities

1 short, easy to remember

2 without undesirable connotation

3 International, easy to pronounce

4 Available, legally protectable

5 facilitate the brand's positioning

Name (IMPORTANT de les reconnaître)

1 Patronymic (LV, H&M)

2 Acronym (SNCB, OXFAM)

3 Generic (Microsoft)

4 Promise (easy-jet, hello fresh)

5 fantasy (google, twitter)

Type of brands (based on offer covered)

1- Separate family brand names ; brand different prodcuts w/ different names (sprite,coca,fuzetea -) same org)

2- Corporate umbrella ; use brand for the entire range of products (samsung)

3- Sub-brands ; combine two or more of the corporate brands name ( nestle/nesquick , lu/prince)

Types of brands based on property

1- Private label (decathlon, lidl, créent des produits)

2- A-Brand (coca-cola, barilla(pates)

3- Licensing (buy royalties to use image (tictac x minions)

4- Co-branding (collaboration entre 2 brands (coca x tictac)

Brand archepotypes

Metaphor that help identify the role the brand plays in people life's

Creator

craft smthg new (apple)

Caregiver

care of others (Volvo)

Ruler

Exert control (microsoft)

Jester

Have a good time (m&ms)

Regular guy

be ok just as they are (gap)

Lover

Find/give love (Chanel)

Hero

Act courageously (Nike)

Outlaw

break the rules (harley-dav)

Magician

affect transformation (disney)

Explorer

maintain independence (Levi's)

Sage

Understand their world (CNN)

Operational marekting

Solution -) Accès -) Value -) Education Engagement Experience Emotion -) Solution -) ...

A product can be

Tangible, Intangible, a combinaison of product/service

Product

Anything that can be offered in the market to be acquired, consumed and satisfy a need

Focus on the product as it is perceived

Marketing oriented approach

Utilitarian value

Functional dimension

Symbolic value

What it represent to the eyes of the cust. (rarity)

Product line

Group of products, closely related sold the same customer group, have a similar price range

number of diff products

Width

Totel number of items the companies carries

Length

How related the products are W/ end use

consistency

Surge

Increased demand

Price multiplier

User notifications

Incentivizing drivers

Dynamic/temporary

Freemium

Attracting users

Upgrading to premium

Revenue genration

Value added premium features

LT cuit relations

Sales revenues

= Number of units sold x Average price

Value based pricing strategy

Asses cust need and value perception, Set target price, Determine cost, Design procduct