Marketing PART 1
Social Media Marketing
Blogging is also a major aspect of social media websites.
Product Message
In promotion, marketer should now determine the means of communicating the ----- or a certain message about the product or service that the company wants to communicate to its customers.
Innovator
Marketers are tasked with researching the kind of product customers need and ensure that the product developed not only meets customers' expectations but also exceeds them.
Instigator
Marketers serve as strategists who analyze current market trends to guide the actions of the company.
Social Media Marketing
Marketers take advantage of the site's popularity among millions of users who share ideas, photos, blogs, videos, and even advertisements every day.
Specific Measurable Attainable Relevant Time Bound
SMART
Marketing Philosophies
Starting in the 1950s, Traditional marketing followed five major approaches which are known as _.
Digital Marketing
Telecommunication companies also maximize the use of SMS as an advertising tool.
Innovator
The marketer also ensures that their products have an edge over
Instigator
This requires them to "think outside the box" and come up with creative ways to change the status quo and gain an advantage over the competition.
Blue Ocean strategy
This strategy encourages businesses to expand their market base and acquire new customers by creating new value which will give rise to new demand.
Underpromise and overdeliver
This strategy is often employed in businesses and services that rely on quick delivery of products and services.
Outdoor Promotion
This type of marketing has been increasingly influenced by digital technology.
E Marketing or Online Marketing
This usually takes the form of company websites where promotional materials, which are usually interactive, are placed.
Price
With the right product, finding the right price is another challenge.
Pricing
affordable to the customers
Goals
are aspirations that every company would like to pursue or the general direction that it wants to take
Objectives
are the specific goals that can be measured in the short term or long term
E Marketing or Online Marketing
companies have already incorporated some online store features to complement their physical stores by providing online reservation, payment, browsing, and even customization services to customers.
Kotler and Armstrong
describe marketing as "managing the customers profitably."
Traditional marketing
followed five major approaches which are known as marketing philosophies.
Long term
goals more than one years
Short term
goals that are one year or less
Telemarketing
involves the promotion of products telephone calls to identified potential customers.
Digital Marketing
involves the use of digital technologies in presenting the product or service offerings of a company.
Sachet marketing
is also done by selling the product at a reduced price for a certain period, such as cellphone load promos or hotel accommodation promos.
Customization
is another means of creating customer value by ensuring that products or services are personalized to meet a customer's specific wants and needs.
Marketing
is comprised of four basic marketing mix elements referred to as the 4Ps namely, product, price, place, and promotion.
Marketing
is the action or business of promoting or selling products or services to specific groups of consumers.
Marketing
is the activity, set of instructions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
Marketing
is the process of conceptualizing, creating, developing, promoting, and sustaining products and services by a company, focusing on the needs and preferences of the customer.
Marketing short sightedness
known as Marketing Myopia.
Customer centric approach
known as Marketing Orientation.
Digital Marketing
large screen monitors that display ads are placed in strategic places where there is heavy commuter traffic.
Social Media Marketing
makes specific use of social networking websites and relevant applications in promoting a company's products and services.
Promotion
marketer should now determine the means of communicating the product message, or a certain message about the product or service that the company wants to communicate to its customers.
Goals
serve as the main purpose of the company and are usually attained in the long term
Old generation customers
tend to be loyal to traditional products and it would take time for them to adopt new products associated with technology.
Communicating
that will capture the attention of customers
new generation customers
are younger and more open to new products and technologies.
Products
can be in the form of goods, services, or ideas.
Events Marketing
car companies host car shows to introduce new car models and clothing companies host fashion shows to showcase their new clothing line.
E Marketing or Online Marketing
online stores have become alternatives to physical stores (also known as "brick- and-mortar" stores) in terms of providing customers access to products and services.
1945
people started to have increased income and thus, had the means to become more selective with the products they buy.
Green Product
product of Societal Marketing Orientation.
Customer Expectations
refer to the perceived benefits and results a customer expects when buying and using a product or availing of a service.
Perceived value
refers to a customers's assessment of the benefits gained from buying and using a product compared to its cost as well as the competing offers on the market.
Assurance
the ability to convey trust and confidence through expert knowledge and courteous service
Reliability
the ability to provide the expected benefits and results consistently.
Empathy
the care and attention given to each customer.
Implementer
the marketer helps facilitate the production and selling processes and ensures that the members of the department perform their assigned roles.
Place
the next address is the distribution or the place.
Tangibles
the quality of physical facilities, personnel and communication services
Responsiveness
the willingness to provide prompt service and assistance
Outdoor Promotion
traditional billboards are video walls. The technology
Creating
useful and attractive features for the customers
Mobile Promotion
uses signs and ads mounted atop taxicabs, product on the sides of buses or vans, or logos painted product stickers attached to vehicles.
E Marketing or Online Marketing
utilizes the Internet to boost promotional and marketing efforts.
Marketing Myopia
when a company manufactures only one product in large quantities and fails to identity the number of customers who are willing to buy them, the company ends up with surplus products.
Generic effect
when brand name becomes the generic name of the product
1930s
when mass production became commonplace and the number of companies producing the same products increased, that the relationship between producers and consumers was highlighted.
Distributing
where customers can conveniently buy the product
Green Marketing
also called as Societal Marketing Orientation.
Marketing Orientation
In this approach, the customers' preference what they want, how much they are willing to pay, what form and feature they prefer, etc. are prioritized.
Events Marketing
Marketers use live entertainment to induce customer traffic and showcase products or services.
E Marketing or Online Marketing
Most online stores have also utilized social media networks to bolster their advertising campaigns. Some known online stores are Lazada, Zalora, OLX, AyosDito, and Pinoydvd among others.
Social Media Marketing
One popular medium for social media marketing is Facebook.
Social Media Marketing
Other social media sites like Twitter, YouTube, and LinkedIn also provide similar services that enable people to connect, express, and share content.
Implementer
The marketer ensures that the marketing strategy for the developed product is in place and implemented effectively.
Implementer
The marketer makes sure that the strategy and production process are integrated, and all customer insights are considered.
Integrator
The marketer mediates between the interests of the company and the needs of the consumers, ensuring that they are integrated into the development of the product.
Product
The marketing process starts with creating a product that satisfies the needs and preferences of customers.
Sachet marketing
The products are repacked in smaller sizes and re-priced at more affordable values.
4ps
These marketing elements are product, price, place and promotion which are known as __.
Integrator
They communicate customer insights and opinions to the company and make sure that this information reaches the concerned departments, such as the sales department and R&D (research and development) department, in order to aid product development.
E Marketing or Online Marketing
This also involves automated emailing of product information to customers.
Product Orientation
This approach focuses on the product and its innovation to attract customers
Selling Orientation
This approach relies on the strength of the company's sales force in convincing the customers to buy the product even if they do not need it.
Production Orientation
This approach requires a company to embark on mass production and distribution.
Product Orientation
This approach was considered a solution to the limitations of the production orientation.
Production Orientation
This approach was perfected by Ford Motor Company.
Societal Marketing Orientation
This is similar to marketing orientation except that concern for society's well being and the environment's sustainability is prioritized as much as the customers' preference.
Sachet marketing
This is usually done for products such as coffee, shampoo, toothpaste, and detergent.
Production Orientation
This means that the company produces a large quantity of a product and makes it available to all potential customers.
Comstock Gulati and Liguori
identified the four roles of a marketer in a company.
Marketing
involves creating the right product, offering it at the right price,
Outdoor Promotion
involves displaying promotional materials for products and services outdoors.
Events Marketing
involves the hosting of a themed event that is especially tailored for the product.
Marketing
is a daily experience of an individual as a consumer or user of products,.services, and ideas.
Sachet Marketing
is adopted to appeal to consumers who are cost-conscious and cannot afford to buy products in large quantities.
Mobile Promotion
marketers are able to advertise their products to passengers who have very little time to consume advertisements in other forms of media.
Telemarketing
marketers are outsourcing this task to call center agents who contact and inform customers of promotions for a new product or service on behalf of the company. This is done to increase the reach of the company in the market.
Customization
means matching specific wants of every customer with a certain product offering of the company, creating value and ensuring customer satisfaction.