Ch.11 Marketing

Question 1

Marketing

Answer 1

Activities, institutions, processes
Communicating, delivering, exchanging offerings
Value for customers, clients, society at large

Question 2

Holistic Marketing

Answer 2

Everything matters in marketing for the 21st Century

Question 3

Regis McKenna on marketing and the purpose of business.

Answer 3

“Marketing today is not a function; it is a way of doing business”

“…the critical dimensions of the company – including all the attributes that together define how the company does business – are ultimately the functions of marketing.”

“Marketing’s ultimate assignment is to serve customer’s real needs”

Question 4

Marketing v2

Answer 4

Marketing is much broader than just advertising. Marketing is “the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 5

Advertising

Answer 5

Advertising, the most visible part of marketing is a form of marketing communication used to encourage, persuade, or manipulate an audience to take or continue to take some action. Most commonly, the desired result I to drive consumer behavior.

Question 6

Brand

Answer 6

…the “name, term, design, symbol, or any other feature that identifies one seller’s product distinct from those of other sellers.” Brands are used in business, marketing, and advertising. Initially, livestock branding was adopted to differentiate one person’s cattle from another’s by means of a distinctive symbol burned into the animal’s skin with a hot branding iron. A modern example of a brand is Coca-Cola which belongs to the Coca-Cola Company.

Question 7

What is the topic of Naomi Klein’s chapter?

Answer 7

The rise of
Branding

Question 8

What is her claim?

Answer 8

Modern Western corporations have moved from their primary focus on production to marketing (creation of image), increasingly invading private and public space.

Question 9

So the role of advertising changed from delivering product news bulletins to building an image around a particular brand-name version of the product.

Answer 9

So the role of advertising changed from delivering product news bulletins to building an image around a particular brand-name version of the product.

Question 10

By the end of the 1940s, there was a burgeoning awareness that a brand wasn’t just a mascot or a catchphrase or a picture printed on the label of a company’s product; the company as a whole could have a brand identity or a “corporate consciousnesses”…

Answer 10

By the end of the 1940s, there was a burgeoning awareness that a brand wasn’t just a mascot or a catchphrase or a picture printed on the label of a company’s product; the company as a whole could have a brand identity or a “corporate consciousnesses”…

Question 11

It took several decades for the manufacturing world to adjust to this shift. It clung to the idea that its core business was still production and that branding was an important add-on.

Answer 11

It took several decades for the manufacturing world to adjust to this shift. It clung to the idea that its core business was still production and that branding was an important add-on.

Question 12

Positioning

Answer 12

Good positioning builds a strong brand, and brands are strong when they own (not literally) a certain concept

Conventional wisdom says you accept your strengths and work on improving your weaknesses. In other words, run ads telling the prospects about the great service, friendly tellers, etc

Conventional wisdom is not positioning thinking. Positioning theory says you must start with what the prospect is already willing to give you.
.

Mercedes owns the word “prestige”;Volvo, “safety”; BMW, “handling”; and Honda ”economy.”

Question 13

Purpose Tree (five roots):

Answer 13

1. Behavioural Change
2. Winning internal support
3. Measuring Performance
4. Securing Partnerships
5. Driving Systemic Change

Question 14

1. Behavioural Change

Answer 14

Aim to change behaviour for social good. Helpful questions:

What behaviour will promote both the brand and social good?
What is the best way to promote them?
Can we measure progress?
Do we work with or against existing public initiatives?
Do we have social license (consumer/stakeholder trust?)
Do we have resources and leadership support?

Question 15

2. Winning internal support

Answer 15

Social marketing initiatives are risky—they require internal support (Management, HR, Communications, finances…)

Be upfront about risks and benefits
Frame as investment (differentiation, future markets, recruit new talent, new capabilities, creating public good)
Crucial: attracting and retaining new talent key (HR ally)

Question 16

3. Measuring Performance

Answer 16

Track on three levels:

Brand Level:
Are the measures building brand equity, differentiate, increase intent to purchase, boosting sales and margins or increase market penetration?

Organizational Level:
Are they engaging employees, attract talent, increase motivation, organizational support and funding?

Public Level:
Are the efforts gaining favourable public recognition (NGOs, government, community and media) as well as from customers and investors?

Question 17

4. Securing Partnerships

Answer 17

Transformational change at scale is hard to do alone. Organizations need partners (NGSs, public sector, private sector and even competitors) to provide complementary skills, expertise, resources, and networks (must ensure good fit)

Question 18

5. Driving Systemic Change

Answer 18

Long-term shifts in behaviour require groundswell of public support going beyond individual campaigns. Brand Advocacy: key characteristics:

Promotes positive vision for the future
Speaks to peoples sense of justice and sense of shared humanity
Uses symbols that resonate
Calls for specific repeatable actions
Gives people agency (empowers to act)
Brings people together on shared platforms through organizational partnerships