COMM 200 Chapter Notes - Chapter 11: Brand Awareness, Marketing Mix, Customer Engagement
24 Dec 2016
School
Department
Course
Professor
Document Summary
Marketing mix: an organization"s strategic and tactical decisions relating to its product/service offerings, pricing, distribution, and marketing communication efforts and approaches. The four p"s of marketing are product, price, place, and promotion. Assuming that our marketing research, segmentation, and target marketing analysis is accurate, an effective marketing mix effort should result in achieving a definitive fit between our product/ service offering and the needs of our potential customers. The product strategy essentially becomes the overall experience that the customer has with the product and the organization offering it. Viewing product strategies as the development of value proposition attributes shifts the marketing team"s focus from simply building a better mouse trap to creating positive performance gaps between the company and its competitors. The total customer experience consists of: brand leveraging, cost advantages, behaviour linkage, point-of-sale and post-purchase services and benefits, financial incentives and benefits, tangible product attributes, psychological and social benefits.
