FINAL EXAM

Question 1

Overall topic and theme of this unit is

Answer 1

segmentaiton, targeting and positioning

Question 2

The 3 step process (in order)

Answer 2

1. Segmentation - dividing huge markets into meaningful consumer or business groups
2. Targeting - choose which consumer or business groups to serve
3. Positioning - position benefits in the minds of chosen target

Question 3

Market segmentation

Answer 3

breaking down large, diverse markets into more manageable submarkets or segments

Question 4

Market segmentation exmaples

Answer 4

General motors - chevy, buick, GMC, Cadillac

Estee lauder - mac, aveda, bobby brown, clinique

VF corporation - timberland, lee, vans, north face

(Jean advertisement - Lee = man spreading and comfort, wrangler = work jeans, r&r = edgy or sexy)

Question 5

5 basics for effective segmentation

Answer 5

1. Identifiable - different attributes must be measurable for identificaiton
2. Accessible - reachable through communication/distribution channel
3. Substantial - large enough to justify resources required to target
4. Distinctive need - must respind different to different marketing efforts
5. Durable - must be realitively stable to minimize

Question 6

4 ways to segment the market

Answer 6

Geographic - country, city, density, language, climate, area, population (ex. surf shops, marijuana, snow blowers, eating habits, bbq, sports, entertainment/activities)

Demographic - age, gender, income, educaiton, social status, family, life stage, occupaiton (marketers start here to get rid of large amounts of people) ex. new borns, new parents, scrubs, graduation gowns, life insurance, coffins

Psychographics - lifestyle, acticities, interests, opinions, concerns, personality, values, attitudes (engage with people here. buyers personal black box ex. senior living, biking, music)

Behavorial - benefits sought, purchases, usage, intent, occasion, buyer stage, user status, life cycle stage, engagement

Question 7

Segmentation by usage categories

Answer 7

most categories have a gradual but constant influx of first-time buyers (ex. soda)

1. non users - offer the lowest level of opportunity of growth unless its the emergent consumer
2. light users - measured different spending on product/service, occasional use, seasonal and habitual (ex. rainboots in seattle, drinking soda with alcohol)
3. moderate users - consistent users of a brand or product, can be counted on to be consistent
4. Switchers - expensive segment to try and keep becuase they respind to behavior stimuli, always going elsewhere and have limited loyaty (ex. uber, jeans, grocery stores)
5. heavy users - majority of brand sales and easiest groups to focus marketing efforts, smallest margin for growth, nearly impossible to convert (ex. airlines, car brands, spotify/music services)

Question 8

Which segmentation by usage categories offer the most growth

Answer 8

moderate and switchers

Question 9

5 Segmentation ways for Business Buyers

Answer 9

• follows along the lines of consumers and human segmentation
  1. georgaphical - access (sporting kc and local sod)
  2. price point - biggest influencer
  3. volume - dell computers
  4. psychogrpahics - human segmentation by values
  5. size of company

Question 10

Targeting

Answer 10

Choose which consumer or business groups to serve

Question 11

If you have _____ well, deciding on a ______ is not as difficult

Answer 11

segmented, target audience

Question 12

Primary target

Answer 12

your ideal customer who you build your messaging around

Question 13

Secondary target

Answer 13

users that you may hit but not your primary concern (ex. pedialyte as hangover cures and doctor offices)

Question 14

Tertiary target

Answer 14

the bottom of the totem pole as far as audience concerns (pedialyte as a mixer)

Question 15

When targeting you need to ______ by whether they are _____ or _____

Answer 15

benefits, functional, emotional

Question 16

It’s important to _____ what youre doing from _____ so you shouldnt go after the same _____ in order to be better

Answer 16

differentiate, the competition, target audience

Question 17

8 steps to creating a marketing plan

Answer 17

1. write down your purpose
2. situation analysis
3. research
4. define goals
5. define objectives
6. stratgies
7. tacits
8. measurement

Question 18

Writing down a purpose

Answer 18

• first step in marketing plan
  1. a brief explanation for why your proposing an action
  2. suggest what mau be done with the information in the proposal
  3. inward facing document
  ex. barbie closing the deram gap - change how barbie is through about, some social input, encourage people who will buy barbie its more than just a doll

Question 19

Situation analysis

Answer 19

• second step in marketing plan, which takes a companies history, culture, and competition into account
  1. establish the need or problem to be solves - why action should be taken now, and show where there is a need to take action
  2. evalaution where the organization is today
  3. isolate which factors have the greatest influence and why - culture is the biggest influencer
  4. Do not recomment of explain rationales

Question 20

Research

Answer 20

• third step in marketing plan

1. primary and secondary using databases, social listening, focus groups, ethnogrpahy

Question 21

Goals

Answer 21

• fourth step in marketing plan
  1. qualitative, broad statements of what the organizations wants to acgieve short or long term
  2. positioning goals can be difficult to measure (ex. barbie and mintel, to position as inclusive, to show comparison between wendys and mcdonalds)

Question 22

Objectives

Answer 22

• fifth step in marketing plan
  1. need to be SMART

s - specific

m - measurable

a - actionable

r - realistic

t - time bound

2. acitonable and quantatative, needs numbers and dates to help meet the goal
3. objectives are more specific and come after the over all goal

Question 23

Strategies

Answer 23

• sixth step in the marketing plan and often where it can go wrong
  1. It creates a unifying narrative
  2. its a major approach or method for attaining objectives and resolving specific issues
  3. its simple - its not a business plan, sales piece, of tatcics
  4. ITS A STORY YOU TELL ABOUT YOURSELF when youre creating messages
  ex. mumbai train track crossing.

Question 24

Mumbai Train Track Crossing

Answer 24

GOAL - to break the overconfidence of trespassers

OBJECTIVE - to decrease the number of injuriies and fataltiies due to tresspassing by 75-80 percent

STRATEGY - to promote crossing more safely (what the railroad wants to tell about itself, everything comes back to this)

TACTIC - redesign singage, redesign train horns

Question 25

Tactics

Answer 25

- seventh step in marketing plan 1. tactics are definitions for the straegies 2. the specific ways you do thing to execute the strategies and accomplish objectives 3. If there isn't a verb it isn't a tactic 4. tactics are actionable and concrete by nature ex. creating a brand and store with payless shoes and inviting influencers

Question 26

measurement

Answer 26

- final step in marketing plan 1. reach - how mnay people are potentials to see your content (vs. impressions) 2. frequency - how frequent and how often they hear it and the rate at which they see it 3. awareness metrics (impressions - number of times the post is displayed, reach - total number of unique people, new followers - total audience change) 4. Engagement metrics (likes - vanity metrics, comments, shares, repost, retweet) 5. Web traffics metrics 6. lead generations

Question 27

Marketing plans examples

Answer 27

1. WAR GOAL - win the war OBJECTIVE - complete the campaign before the first snow STRATEGY - divide and conquer (or bomb the shit out of 'em) TACTICS - cia spies gather intelligence, navy seal knock out enemy communications etc 2. KU FOOD INSECURITY Short term goal - to raise money to help stock pantries Objectives - Boost number of ready good items in campus cupboard by 20 percent between thanksgiving break and the end of finals week

Question 28

Example of primary secondary and teriary target audiences with KU

Answer 28

Primary target - prospective students (then parents) Secondary target - prospective employees (then donors) Tertiary target - already have them, current students, newly admitted students

Question 29

To Identitify the consumer insight....

Answer 29

require research and deciding how youre going to talk to your audience

Question 30

Consumer insight

Answer 30

insights translate raw datat into concise and compelling findings surrounding consumer motivations 1. Identify a given situatation that arises everyday or often though 2. describe the dilemma people face and articulate why this is a fristration in life 3. protrays consumers' desired end state and ideal situation, the tangible result they'll get from the service ex- ford with kick lift gate

Question 31

Positioning

Answer 31

Where are we and where do you want to be in the mind of our targeted consumers? Where do we want to be on the perceptual map? Usually, the position of a product, line or brand is displayed relative to competition

Question 32

Perceptual map

Answer 32

a graphics technique used by marketers that visually displays consumer preceptions. can have any number of dimensions, but usually graphed on two dimensions for clarity and simplicity ex. soft drinks strong caffiene vs no caffiene high sugar vs no sugar

Question 33

Construction of positioning relies on

Answer 33

quantitative research studies, often called image student rate competeing products' attributes on some form of numerical scale ex. coke # of men who drink vs # of women Uses two determinant attributes known to you through other research such as social istening, interviews, or market share data, not as reliable and is constructed quickly

Question 34

Why is perceptual mapping used?

Answer 34

1. to help understand what consumers think about your brand 2. help you understand what consumers think about your comepetitors brand 3. help build an effective strategy and messaging 4. identify the white space you could occupy and create a unique posiiton among competitors in the consumers mind

Question 35

Basic positioning themes

Answer 35

1. benefit position - functional positioning is focused on the beneficial aspects of the products or services that fulfill consumers' needs or desires ex. lift gate for ford, phones servies and more data 2. user positioning - symbolic positioning is based on the characteristics of the brand that fulfills customers' self-esteem - experiential positioning is based on the characteristics of the brands that stimulate the sensory or emotional connection iwth the customers (ex. tarte all their makeup is vegan) 3. Competitive positioning

Question 36

Exmaples of gym advertisements with different positioning approaches

Answer 36

1. Genesis health club - benefit positioning - highlighted in features in the gym and people doing exercises were benefiting, convience factor - target audience = people unhappy with their current gym 2. YMCA - user positioning - experiential going with other people (emotional) 3. Crossfit - user positioning experiential - dad with him all the way to him grown up

Question 37

Experiential positioning is based on

Answer 37

sensory or emotions

Question 38

Types of User Positioning

Answer 38

1. Symbolic positioning | 2. experiential positioning

Question 39

Symbolic positioning is based on

Answer 39

characteristics of the brand that fulfills customers' self-esteem

Question 40

Types of benefit positioning

Answer 40

1. functional positioning

Question 41

Functional positioning is based on

Answer 41

the beneficial aspects of the products or services

Question 42

If a company carefully segmented the market and selected its target a positioning statement should _____

Answer 42

occur organically

Question 43

Positioning strategy statemtn

Answer 43

[X] is the brand of [CATEGORY] for the [TARGET MARKET} that [BENEFIT] because of [SUPPORT]

Question 44

5 Concise Steps of a marketing plan

Answer 44

1. Situaiton analysis - whats going on in the past and right now? who are we? 2. Goal and objectives - where are we going? to whom do we want to talk with and why? 3. Strategies and tactics - how do we want to do it? 4. Measurement - how well are we doing it? how do we jusitfy it? 5. Execitive summary - who, what, why in a nutshell for rapid consumption.