CCT322H5 Quiz: Review - Midterm 1

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Source: http://www.witiger.com/universityoftoronto/CCT322.htm (course website)
4 P's
o Product
o Price
o Promotion
o Place (location)
4 e-P's
o Permission
o Privacy
o Profiling
o Personalization.
4 P's/C's
o Customer Solutions not products
o Customer Cost not price
o Convenience not place
o Communication not promotion
4P’s:
1. Product = the physical features of the product, or the intangible aspects of the service. Things
you do to make product more attractive. Includes branding. Ex. Convenient packaging, like
Mcdonald’s and Tim’s coffee cup lids.
2. Place = decisions about where to sell the product, concerns about where customers are (how to
get them). Includes channel of distribution (the dif middlemen used to get product to customers).
Ex. Online context, could be domain name.
3. Promotion = Telling customers about product. Sub-catergories include:
a. Mass selling – Advertising (paid for), Publicity (free). Ex. Viral Marketing
campaign.
b. Sales Promotion – Stuff done to product in store. Ex. Positioning product,
contests, coupons, free samples, etc.
c. Personal Selling – Direct P2P contact with potential customer. Sometimes for
large industrial sales or higher quality products. Ex. Cars.
4. Price = Sell at high price for lots of profit in short term. Sell at low price to beat
competition and stay in long term.
Tapscott’s 5 Principles of marketing to Net Generation (argument against 4P’s):
1. Collaboration
2. Openness
3. Sharing
4. Interdependence
5. Integrity
Argued that (WITIGER disagrees)…
1. Product = Consumer Experience
2. Place = Anyplace
3. Price = Discovery Mechanism for price
4. Promotion = Engagement
FAB = Features, Advantages, Benefits
4 e-P’s for Email Marketing:
the combination of permission, privacy, profiling and personalization will keep end users “hooked”
on your company, your products and services, your messages and your future success.
1. Permission = If you don’t have explicit permission to send an email to a recipient you are
SPAMMING them. Results in lawmakers creating stricter regulations. Also consumers get tired of too
many emails and won’t takw email seriously (aka “email fatigue”).
2. Privacy = What email marketers do with personal information once they receive it/how they keep it
private. With identity theft increasing and the average person more concerned about privacy issues,
those organizations that consistently take the privacy high road will endear themselves to customers.
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Source: http://www.witiger.com/universityoftoronto/CCT322.htm (course website)
3. Profiling = Keeping profiles simple. Who they are, what they want, how/how often to
contact, end-user access to view and update profiles. Use contests, questionnaires, polls to
collect info then combine with data from sales history, web logs, etc. to create powerful
customer and prospect profiles.
4. Personalization = Not “one size fits all”. Each person gets “personal” treatment from your
organization. Tend to have better open and response rates and easier time keeping the end user’s
permission.
4 P’s/C’s
Weaknesses of the 4 P’s include,,,
oomit or underemphasize some important marketing activities. Ex. Services not
mentioned, just products.
oFocused on seller’s view of market, should be buyer’s view.
Can be replaced by 4C’s:
1. Customer Solutions not Products
a. Customers want to buy value or a solution to their problems
b. EX. Customer wants GPS signal inside a building.
2. Customer Cost not Price
a. Customers want to know the total cost of acquiring, using and disposing of a
product.
b. EX. Customer wants to know how much toner cartridges will cost over lifetime of
printer.
3. Convenience not Place
a. Customers want products and services to be as convenient to purchase as
possible.
4. Communication not Promotion
a. Customers want two-way communication with the companies that make the
product.
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Source: http://www.witiger.com/universityoftoronto/CCT322.htm (course website)
The 6 Environments
o Competitive
o Economic
o Geographic
o Political / Legal / Regulatory
o Sociocultural
o Technological
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