What are the 4 marketing mix?
How do you create value to your product?
What are the 6 different ways to price?
What are the 6 different distribution Theory?
Global trading theory
What is the goal of logistics?
Customer service transportation process
ordering, taking packaging process
2 different types of promotion
What are the class communication mode?
Source -> Encoding -> Message->Medium->Transmission->Receiver->Decoding->Feedback
What is the hook click theory of persuasion?
The sender (marketer)
The Job of the marketer ( break through hook)
What are the 7 things affecting price?
product life cycle
internet and extranets
demand of large customers
price and quality relationships
What does price need to do?
Profitability, acceptance, positioning, fits in with marketing mix
What are the Sensitive Price Points?
Substitute Price Points -six pack of Coke costs $2.99, six pack of Pepsi costs $2.89 shoppers who are
indifferent switch big time. Perceptual Price Points - e.g. 99 cents, $19,995. Sometimes effective
is the strategy of establishing a high initial price for a product with a view to skimming the cream off
the market at the upper end of the demand curve.
Prestige products are used in social settings and are conspicuously consumed.
Enter low to establish economies of scale and awareness.
--Brand management 10
What are the 12 laws to brand management?
The Law of Expansion
The power of the brand is inversely proportional to its scope
In the long run expanding a brand may diminish its power and weaken its image
The Law of Contraction
A brand becomes stronger when you narrow its focus
Stock in depth
Dominate the category
The Law of Publicity
The birth of a brand is achieved with publicity, not advertising.
What others say is more powerful than what you say.
It is better to be first than to be better, because being first generates publicity.
The Law of Advertising
Once born, a brand needs advertising to stay healthy.
Advertising dollars keep you from losing share to competitors, because it makes it difficult for
them to pay the price of competing with you.
Advertise brand leadership not quality
For consumers, leadership = quality
For example, Coca-Cola The Law of the Word
A brand should strive to own a word in the mind of the consumer.
e.g., Kraft Dinner, Q-tips
The Law of Credentials
The crucial ingredient in the success of any brand is in its claim to authenticity
Coke the real thing
If not the leading brand in a category, then create a category: eg. Polaroid
The Law of Quality
Quality is important, but brands are not built by quality alone.
Almost no correlation between success in the marketplace and comparative testing of products
Quality resides in the mind of the buyer
Follow the laws of branding to build that perception: contraction = specialist = quality
The Law of Extensions
The easiest way to destroy a brand is to put its name on everything.
Line extensions can erode core brands
Building brands versus milking brands
The Law of Fellowship
In order to build the category, a brand should welcome other brands.
Two major brands is ideal makes consumers more conscious of the category
Similar Businesses Locate Together
The Law of Siblings
There is a time and a place to launch a second brand.