MARK432 Study Guide - Winter 2018, Comprehensive Midterm Notes - Canada, Facebook, Direct Marketing
12 Oct 2018
School
Department
Course
Professor
MARK432
MIDTERM EXAM
STUDY GUIDE
Fall 2018
Topic 1 - INTEGRATED MARKETING COMMUNICATIONS INTRODUCTION
Marketing
advertising
brand exposure
bridge between supply and demand
effecting consumer behaviour
adding value to process of buying for consumers
the process of conceiving, pricing, promoting, and distributing ideas, goods, and services to
create exchanges that benefit consumers and organizations.
communicating and delivering value to consumers
Who Defines Value?
marketers may think they are delivering good value, but consumers may see it differently
e.g. Foxtons (short term lets in London) - “we embrace change and are constantly challenging
tradition because we have a strong desire to improve the way our industry operates. We do
business differently to give you the edge”
want to change the way their industry operates, but took 5 days to get to a response. Does not
get what the consumer is up against in terms of urgency needed to rent in London
Foxtons think they are delivering value - but from the consumer perspective a big component of
value was responding promptly and personalized
The customer is the one that defines value
customer here also includes prospects
marketing battles are fought inside the mind. inside you own mind and inside the mind of your
prospects, every day of the week
What Influences Customer Perceptions?
recommendations from a friend/ family member/ known acquaintance - 81%
tv ads - 65%
online reviews from someone in their social media circle from people they know and people that
they don’t know - this factor has gone up exponentially since the data was collected
81% buy based on recommendations from friends
60 - 70% (or more) buy based on recommendations from strangers
although this exists - still need marketing to get to the point where people are aware of the
brand or product
Marketing’s Impact?
make us know that the store exists, getting us into the store, the layout of the store affects what
draws the eye, psychological pressures from social media, etc
find more resources at oneclass.com
find more resources at oneclass.com
Typical Marketing Decisions
allowance - e.g. coupon promotion, manufacture may give them a trade allowance and have a
budget of X you are allowed to honour
discount - suggested retail price and price you sell it to the store at
questions to consider when making decisions
need to know what is going on in the marketplace
what is happening in the consumers mind - who is the consumer?
how are you going to position self in the market?
What is Marketing Communication?
the messages that we send out that lead the behaviour of the intended consumers
messages that influence opinion, choice, attitudes, and ultimately behaviour
creates and strengthens brand equity
every point of communication - billboard to phone call with customer service
could be intended or not
Brand Identity vs. Brand Equity
Apple
have a very strong brand identity - we all recognize the logo and the slogan
the streamlined design is consistent with the products they develop
suffering a bit because so much of their brand identity was tied up with Steve Jobs
Product Decisions
Price Decisions
Distribution Decisions
product type
price level
channel type
features or attributes/ benefits
price policy
channel policy
corporate name/ identification
discounts
type of intermediary or reseller
brand name/ identification
allowance
type of location/ store
package decision
flexibility
service level
find more resources at oneclass.com
find more resources at oneclass.com
