Marketing

Question 1

Defn?

Answer 1

mix of

• branding
• building customer relations
• COO
• market research
• market planning

Question 2

7P

Answer 2

1. Place
2. Price
3. Promotion
4. People
5. Physical Environment
6. Process
7. Product

Question 3

Place

Answer 3

Retail
wholesale
mail order
internet
direct sales
peer to peer
multi channe

Question 4

Price

Answer 4

skimming
penetration
psychological 
cost plus
loss leader etc

Question 5

promotion

Answer 5

special offers
advertising
endorsements
user traits
direct mailing 
leaflet/posters
free gifts
competitions
joint ventures

Question 6

People

Answer 6

Employees
management
culture
customer service

Question 7

Process

Answer 7

How consumed?

Question 8

Physical Environment

Answer 8

smart
run-down
interface
comfort
facilities

Question 9

Product

Answer 9

design
tech
usefulness
convenience
value
quality
packaging
branding
accessories
warranties

Question 10

3 Brand P

s

Answer 10

brands are PROMISES which frame the POSITIONING in minds of stakeholders and which structure their expectations. Ideally these expectations match the promises which are realized and experiences through brand PERFORMANCES

Effective brands deliver consistently on their promise by meeting or exceeding expectations thereby reinforcing the positioning and the credibility of the promise.

Question 11

Brand Promises

Answer 11

famous grouse - Reminder ads ( character, music, story )

Tag lines like Lidl wines - Big on Quality, Lidl on price

Question 12

3BPs

Answer 12

Promises
Positioning
Performance

Question 13

Promises

Answer 13

what promises your brand makes to the customers

Question 14

Positioning

Answer 14

Current, how do you position your brand

Question 15

Performance

Answer 15

What performance can customers expect

Question 16

Brands?

Answer 16

-distinguished 
name
-&/or symbol
-intended to identify goods/services 
- purpose : for seller/differentiate from competitor ( Pepsi, coca cola)

Question 17

Brand functions/benefits

Answer 17

1. Identification
   ( aids buyer recognition and eases comparison)
2. Reduced level of perceived risk ( psychological reassurance, signify quality)
3. Signify brand personality ( coca - cola , if person patriotic , optimistic , family oriented and also encapsulates americal value system)

Question 18

Key brand concepts

Answer 18

1. Identity
2. Position
3. Image
4. Equity

Question 19

Identity

Answer 19

How marketers want the brand to be perceived

what the brand stands for

Question 20

Position

Answer 20

That part of identity and proposition that the marketers want to communicate.

Question 21

Image

Answer 21

how customer perceives brand

- user image, occasion image, personality, salience and product image)

Question 22

Equity

Answer 22

Assets and liability linked to brand

brand name, perceived quality, loyalty and associations

Question 23

Brand Identity Prism

Answer 23

Physique, Personality, Relationship, Culture, Reflection and self-image

Question 24

Physique

Answer 24

Main physical strength of the brand and core added values

Question 25

Personality

Answer 25

Human characters that best represent identity ( use of celebrities)

Question 26

CUlture

Answer 26

Set of values central to the brand

Question 27

Relationship

Answer 27

How brand behaves and acts towards others . It's relationship with consumers

Question 28

Customer reflection

Answer 28

the way consumer sees the brand

Question 29

Self-image

Answer 29

consumer uses brand for self reflection of these personality traits

Question 30

Digital Marketing

Answer 30

- Content , design and data - organisational culture - personalisation ( eg - Burberry )

Question 31

COO

Answer 31

origination | willingness to buy the product ( Scotch)

Question 32

COO effects

Answer 32

Can add or defract from brand image ( Scotch and Indian whisky) can be confusing tangible for evaluation ( german engineered, swedish made in china etc.) Laws against misleading ( Scotch whisky assoc.) Also strong association in the wine sector ( French wines ) Price is directly prop to COO

Question 33

Market Research

Answer 33

``` Customers? Their needs? Market env? Current trends? Future trends? level of customer satisfaction? future customer needs? how communicating? ```

Question 34

Marketing Metrics

Answer 34

- Sales ( value/vol) - gross margin - awareness - market share vol - no. of new products - relative price - customer satisfaction/dissatisfaction - availability/distribution - profit/profitability

Question 35

Performance measures

Answer 35

- customer satisfaction - customer loyalty - customer retention - new customer acquisition -Repeat purchasing frequency product quality - new product success