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77 Cards in this Set
- Front
- Back
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What is marketing?
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Getting the right goods to the right customer at the right place at the right time at the right price with the right communication and promotion
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What is marketing again?
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The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy individual and organisational goals.
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What are four conditions for exchange?
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1. There must be at least 2 parties
2. Each can offer something the other perceives as a benefit 3. Each is capable of communication and delivery 4. Each is free to accept or reject the offer |
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What are the different demand states?
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Negative- exists but not wanted.
None. Latent. Falling. Irregular. Full. Overfull. Unwholesome. |
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What is the production concept?
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That consumers will favour those products that are available and affordable. The major task of management is therefore to improve the efficiency of both production and distribution.
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What are some examples of production concept?
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Government departments, Henry Ford, suits demand where potential demand outstrips supply, Taylorism
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What are the negatives to production concept?
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Due to investment, requires consumer needs won't change. Adversion to variation.
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What is a product concept?
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Assumes consumers will favour products that offer the most quality for the price, and therefore the organisation should devote energy to improving product quality.
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What are some product concept features
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Very little customer input.
Marketing myopia, a love affair with the product without thinking about the consumers needs. |
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What are some product concept examples?
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Sony Walkman
Apple Iphone Arts organisations unwilling to compromise artistic integrity for consumer satisfaction. Bugatti Veyron |
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What is a selling concept?
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Assumes consumers will either not buy, or not buy enough of the orgs products unless a substantial effort is made to stimulate their interest
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What are some selling concept features?
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Message becomes more aggressive depending on how unsought the products are.
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What are the negative points to selling concept?
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Presumes customer will like the product. If they don't presumes customer will buy product again. Getting message out is very expensive, often beyond budget of arts companies, therefore campaign is not applied wholly, effectiveness is compromised.
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What is a marketing orientation?
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Assumes the key to achieving organisational goals is determining the needs and wants of target market and adapt itself to satisfy these more effectively and efficiently
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Give some examples of marketing orientation?
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Gardening instead of hunting.
Selling focuses on the needs of the seller, marketing focuses on the needs of the buyer. |
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What are the three behavioural components of a market orientation?
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Customer orientation
Competitor orientation Interfunctional co-ordination |
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What are some characteristics of a market orientation?
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Customer Philosophy
Integrated marketing org Adequate information Strategic orientation Operational efficiency |
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Give some examples of an organisation centred view?
OCMMBOA |
1. Offer is seen as inherently desirable.
2.Customer ignorance and lack of motivation seen as barriers to success. 3. Minor role given to consumer research. 4. Marketing defined as promotion. 5. Best marketers seen as those knowledgeable about the offering and communications. 6. One good strategy is seen as all that is needed. 7. There is assumed no generic competition |
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Criticisms of marketing?
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Unethical, irrelevant, wastes money, intrusive, manipulative
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What are marketing activities?
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Planning, R&D, Test marketing, advertising, PR, Promo, Sales, Merch, Distribution, Pricing, Financial Planning
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Customer Loyalty?
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What are limitations to marketing the arts?
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Resources, increased competition from less expensive options, limited market size, short offer period, new products with small market, audience needs information to consume, multiple stakeholders
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What is an internal analysis?
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Mission, objectives, goals, culture, SWot
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What is an external analysis?
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Publics to be served, swOT, PEST
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After internal/external environmental scanning, what next?
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Set marketing mission, objectives and goals.
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After setting marketing mission, objs and goals, what next?
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Set core marketing strategy- target market, competitive positioning, marketing mix.
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A mission can be defined by..
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What is our business and what should it be?
Who are our customers and who should they be? Where are we heading? What major competitive advantages do we have? In what areas of competence do we excel? |
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Give some examples of organisational objectives?
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Market standing
Innovation Productivity Physical Resources Financial Results Environmental Behaviour Corporate Culture |
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What are the 4 main publics of an organisation?
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Input
Internal Intermediary Consuming |
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What are Input Publics?
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Donors, suppliers, regulators
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What are Internal Publics?
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Management, Board, Staff, Volunteers
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What are Intermediary Publics?
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Merchants, Agents, Contractors, Facilitators, Marketing firms
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What are Consuming Publics?
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Clients, Local Activist, General, Media
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What are the 4 levels of entertainment options?
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Desire, Generic, Service Form, Enterprise
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What is desire level?
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What desire do I want to satisfy?
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What are some desire level examples?
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Work
Exercise Chores Entertainment |
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What is a Generic level?
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How do I want to be entertained?
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What are some generic level examples?
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TV at home
Movies Live Performance |
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What is a Service Form level?
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What FORM of performance would I like to see?
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What are some Service Form examples?
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Symphony
Night Club Rock Concert Play |
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What is Enterprise level?
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Which play do I want to go to?
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Draw it!
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What does Ansoff's Offer/Marketing Opportunity Matrix look like?
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What is 1. in Ansoffs Matrix?
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Market Penetration- increased sales for current product in current market
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What is 2. in Ansoff's Matrix?
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Market Development- Develop new market(s) for existing product. ie new territories, new features`
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What is 3. in Ansoff's Matrix?
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Product Development- Develop new products or improve existing products for current market
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What is 4. in Ansoff's Matrix?
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Diversification- new products for new market
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What are the two types of diversification?
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Concentric- add products that complement existing product line.
Conglomerate- add new products with no relationship to current products. High risk. |
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How do you market penetrate?
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Advertise other uses for the product.
Offer bonuses. Attract competition's clientele. Increase promotion. Use samples, bonuses Adjust price. |
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How do you Market Development? (current product, new market)
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Regional expansion.
International expansion, Develop different versions for different sectors. Penetrate other distribution channels. Advertise in other media. |
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Who do you Product Develop (new products in existing market)?
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Adapt
Modify Amplify Miniaturise Substitute Change the look. Invert. Combine.(put a clock in it) |
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How do you Diversify (new product, new market)?
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Any new product is earmarked for a new market.
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What areas should objectives list cover?
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1. Target audience.
2. A behaviour, or set of 3. The present state of those behaviours 4. Proposed state of behaviours |
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What are some alternative marketing objectives?
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Surplus, Revenue, Usage, Budget, Producer Satisfaction Maximisation.
Usage Targeting, Full Cost Recovery, Partial Cost recovery. |
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What does a marketing strategy involve?
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A selection of target market, choice of competitive position, development of an effective marketing mix.
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Draw the process of campaign marketing cyclical process?
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What is positioning?
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The act of designing the image and value offer so the customer understands and appreciates what the org stands for in relation to its competitors.
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What is image?
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The sum of beliefs, ideas and impressions that a person has of an object.
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What are the four competitive positions?
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1. Market Leader
2. Market Challenger 3. Market Follower 4. Market Nicher |
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What are some examples of brand focuses?
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Society/community orientation
Perceived quality Innovation Concern for customers Presence and success Local v Global |
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What are the 3 components of brand identity development?
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1. Who is the target market and what do they value in leisure time activities?
2. What are their other entertainment options and what benefits do they derive from these? 3. What are the unique benefits? |
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What are the various levels of market?
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Market.
Potential. Available. Qualified Available. Served. Penetrated. |
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What is Market Level?
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Actual and Potential consumers
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What is Potential Market?
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Set of consumers interested in market offer
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What is Available Market?
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Interested and have ability and access to transect market offer
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What is Qualified Available Market?
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Interested, have ability and access to transect and qualifications for the market offer.
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What is the Served Market?
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The part of the qualified available market the organisation attempts to attract and serve.
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What is the Penetrated Market?
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The set of qualified available consumers who are actually consuming the public.
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Draw a diagram of Levels of Market
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What is the process of segmentation?
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1. Identify bases for segmenting the market.
2. Develop profiles of each segment 3. Develop measures of segment attractiveness 4. Select target markets 5. Develop positioning 6. Develop marketing mix for the targets. |
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Draw the segmenting and targeting map!
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What are the characteristics of segmenting?
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Mutual exclusivity- ppl only in one segment.
Exhaustiveness- all potential target members are in a segment. Measurability- segments must contain aspects that can be measured. |
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What are the characteristics of segmenting continued?
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Reachability.
Sustainability. Differential Responsiveness |
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What are some bases for segmenting?
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Demographic.
Geographic. Psychographic Behaviour. |
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Give me 3 types of marketing?
Type one: |
1. Undifferentiated Marketing
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Give me 3 types of marketing?
Type two: |
2. Differentiated Marketing
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Give me 3 types of marketing?
Type three: |
3. Concentrated Marketing
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