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11 Cards in this Set
- Front
- Back
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Lec 7: Slide 13+ (what are the reasons for the growth/importance of IMC?)
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Changes in marketplace: Mass production/mass marketing/mass advertising paradigm obsolete. Changes in organisational structure: Convergence of industries and technologies. Changes in consumers: Empowered online. Changes in communication: Free media channels with world-wide reach eg YouTube
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Lec 7: Slide 23 (what are the barriers to IMC?)
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Lack of support of top management. Lack of database development. Lack of measurement tools.
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Lec 7: Slide 27 (what is advertising?)
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Advertising is a paid, mediated form of communication from an identifiable source, designed to persuade the receiver to take some action, now or in the future.
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Lec 7: Slide 32 (what is the role of advertising?)
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Makes the prospect familiar with the product. Educates current and prospective consumers re the product and its benefits Reminds the prospect about the product. Brings news of new products. Adds values not intrinsic to the product. Reassures and helps retain customers. Increases the enthusiasm of those marketing the product.
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Lec 9: Slide 2 (what is Corporate Social Responsibility, CSR?)
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actions that further some social good, beyond the interests of the firm and that which is required by law
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Lec 9: Slide 32 (why do consumers shop online?)
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Convenience. Choice. Customisation. Communication. Cost. Control
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Lec 10: Slide 5, 6+ (what are the 3 product levels?)
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Core Product: what is the problem being solved. Actual product: Quality level, features, styling, brand and packaging. Augmented Product: Looks at the buyers total consupmtion system
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Lec 10: Slide 19 (why do products fail?)
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* Insignificant point of difference * Incomplete and market and product definition before product development starts (can be avoided with good Product Protocol Statement) * Too little market attractiveness * Poor execution of the marketing mix * Name and Package, Price, Place, Promotion * Poor product quality or insensitivity to customer needs on critical factors * Bad timing * No economical access to buyers
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Lec 11b: Slide 11 (what are the product qualities that affect ease of evaluation?)
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Search qualities – the attributes of colour, shape, price, fit (can be determined pre-purchase) Experience qualities – can only be discerned after purchase or during consumption - as with taste, wearability, ease of handling, quietness and personal treatment. Credence qualities – characteristics that customers find hard or impossible to evaluate, even after consumption … for example, surgery or technical repairs that are not visible.
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Capacity Management:
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Integrating the service component of the marketing mix with efforts to influence consumer demand.
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Yield Management:
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Like price discrimination. Examples include airline ticket pricing and hotel room pricing. Also known as revenue management. This may result in peak and off-peak pricing.
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