Flashcards in Midterm Deck (41)
The situation analysis should be thought of as an unbiased assessment of what’s happening now. It is a fact-finding mission.
the philosophy that firms should analyze the needs of their customers and then make decisions to satisfy those needs, better than the competition
Product, Price, Place, Promotion
a specialized form of marketing research conducted to improve the efficiency of advertising
the scientific description of the customs of individual peoples and cultures
strengths, weaknesses, opportunities, threats
Info you construct yourself (surveys, focus groups, etc.)
Info that has been previously gathered by others. Always start with first to see if what you need is already available.
surface statements about your product. capabilities and explanation of what product does
how this product can help you and make your life better
integrated marketing communication
Tools: PR, Advertising, Sales Promotion, Direct Marketing, Interactive Marketing, Personal Selling
Speaking to the consumers with a consistent voice
age, gender, income, education, marital status, occupation
lifestyles, product usage, media usage
Broader, numerical info that is statistically reliable and projectable
In-depth, non-numeric info. Consumer's attitudes, feelings, beliefs. Attempts to find out why.
bridge from your situation analysis to your objectives and strategies.
elements of good objectives
measurable, realistic, timely
marketing communication strategy
the "promotion" part of the "marketing mix" or the "four Ps": price, place, promotion, and product. It can also refer to the strategy used by a company or individual to reach their target market through various types of communication
An effort to influence consumer perception of a brand or product relative to the perception of competing brands or products. Its objective is to occupy a clear, unique, and advantageous position in the consumer's mind.
Found a need and made a promise to consumers.
A brand is a collection of perceptions in the mind of the consumer.
the commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself
aimed marketing to target specific segments of an overall market using demographics and psychographics
a facet of customer relationship management (CRM) that focuses on customer loyalty and long-term customer engagement rather than shorter-term goals like customer acquisition and individual sales
reach, frequency, gross impressions, GRPs(Gross Rating Point) TRPs(Television rating point), etc.
Plan of attack, how to accomplish your objectives.
Actual executions, making the plan come to life.
explains how the advertising campaign will meet the advertising objectives of the business
strategic focal point
physical: something in each ad that leaves a similar impression (slogan, tagline, trade characters)
psychological: unify the way people think about their advertising (similar theme, image, tone or attitude)