Session 1-3 Flashcards
(39 cards)
What are the 4 p’s?
Product, price, place and promotion
What involves marketing as a philosophy?
Putting the customer at the centre of everything you do
Are marketing and strategy different?
No, not when companies are bundles of processes designed to deliver customer value. Because marketing is related to everything in the company
What are the 5 c’s in market forces?
Customers
Competitors
Company
Collaborators
Context
Product orientation belongs to which year?
1960’s
What is consumer orientated marketing?
Satisfying the consumer wants and needs with a profit.
What marketing are we moving towards?
Shared value
What 3 things should a mission statement involve?
Purpose to the company
Identity to the brand
Act as a catalyst for innovation at all levels
From what does financial performance not benefit?
Social responsibility
What belongs to the mindset of a sustainable marketeer?
Wants are influenced by a lot pf things like, culture and marketing
Resources are finite
We can’t pollute unlimited
What is demarketing?
Demand reduction
What is social marketing?
Marketing to change behaviour positively
What does csv stand for?
Shared value creation
What are the 3 keyways for companies to create shared value opportunities?
By reconceiving products and markets
By redefining productivity in the value chain
Enabling local cluster devleopment
What are 5 characteristics of regulation that enhance csv?
Set clear and measurable social goals
Set performance standards
Define phase in periods for meeting standards
Use universal measurement and performance reporting systems
Efficient and timely reporting of results
What are bad regulations to encourage csv?
Forces compliance with particular methods
Mandates a particular approach to meeting a standard
What are the 4 principles of change management?
Be market driven
Be market driving
Anticipate reactions
Match external change with internal change
What is boiling frog syndrome?
Slow change that is not noticed
What does it mean to be market driven?
Track and respond to changes in te market
What does it mean to be market driving?
Keep tight control of the change process
What does horizontal resource allocation involve?
Across brands in the portfolio
What does vertical resource allocation involve?
The allocation within brands in the portfolio, like distribution and communication
What is the difference between the branded house and the house of brands?
Branded house = 1 brand name used everywhere
House of brands = a lot of different brands under 1 identical name
Why do consumers like brands?
They know what kind of quality they are going to get
