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59 Cards in this Set
- Front
- Back
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What are the 3 levels of Product?
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1.Core, Benefit or Service.
2. Tangible Product. 3. Augmented Product. |
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Draw the product diagram, homey!
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What are some Tangible Product characteristics?
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Customers acquire products for what they can do for them, so the first step is to identify the needs being satisfied. Ie need to socialise, to be entertained, intellectually stimulated etc
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What are 5 specific Tangible Product characteristics?
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Features- such as a conductor or performer.
Styling- distinctive look or feel Quality Packaging Branding |
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What is a service?
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Any activity or benefit that can be offered that is intangible and does not result in ownership of anything
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What are some characteristics of Service?
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Intangibility.
Inseparability- from the source that provides. Variability- quality/content varies Perishability- cannot be stored Customer Involvement- customer integral part |
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In a service, due to the lack of concrete product, consumers....
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Look to other indicators to evaluate quality, such as atmospherics, cleanliness, behaviour of staff, associated product like beverages, level of comfortablilty.
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In manufacturing, the product is generally concrete. In service...
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It is intangible
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In manufacturing, the product ownership is transferred when a purchase is made. In service....
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No ownership can generally be transferred.
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In manufacturing, the product can be resold. In service...
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the product cannot be resold
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In manufacturing, the product can be demonstrated. In service..
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cannot be usually be effectively demonstrated (as it doesn't exist)
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In manufacturing, the product can be stored. In service...
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the product cannot be stored.
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In manufacturing, the product consumption is preceded by production. In service...
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production and consumption generally coincide.
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In manufacturing, production, selling and consumption are locally differentiated. In service...
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they are spatially united.
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In manufacturing, the product can be transported. In service...
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the product cannot be transported.
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In manufacturing, the seller produces. In services...
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the buyer take part directly in the production.
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In manufacturing, indirect contact is possible between company and client. In services...
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In most cases direct contact is necessary.
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Promotion is a...
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planned and coordinated process
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Promotion uses...
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a carefully defined strategy, special messages, specifically designed materials and selected media.
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Promotion is to....
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inform targeted markets about an organisation, its products and its benefits
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What are the 5 categories of Promotion?
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Publicity
Public Relations Advertising Sales Promotion Personal Selling |
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What is Publicity?
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Any non paid coverage in print or electronic media
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What is Public Relations?
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A planned long term program of action that aims to make segments of the public aware of, understand and support an organisation
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What is Advertising?
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Any paid form of non-personal presentation and promotion by an identified sponsor
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What is a Sales Promotion?
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A short term incentive to increase demand for an organisation's goods, services or products
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What is Personal Selling?
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Oral presentation to one or more people to increase demand for a product or build goodwill for an organisation.
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What is Consumer Decision Process?
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1. Awareness
2. Knowledge 3. Liking 4. Preference 5. Conviction 6. Action/Purchase |
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What are some characteristics of Advertising?
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Public presentation.
Pervaisiveness. Amplified Expressiveness. Impersonality. |
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What are some characteristics of Personal Selling?
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Personal Interaction.
Cultivation of relationships. Response. |
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What are some characteristics of Sales Promotion?
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Communication.
Incentive. Invitation. |
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What are some characteristics of Public Relations/Publicity?
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Highly credible.
Dramatic Appeal. |
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What are some examples of advertising?
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Print & broadcast ads, packaging, mailings, catalogues, newsletters, brochures, posters, directories, billboards, display signs, point of purchase displays, audiovisual materials, symbols and logos, email, internet, cinema.
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What are some examples of sales promotions?
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Contests, sweepstakes, lotteries, games, premiums and gifts, samples, exhibits, demonstrations, coupons, rebates, installment payments, entertaining, exchange privileges, tie-ins
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What are some examples of Public Relations?
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Press kits, speeches, seminars, annual reports, sponsorships, publications, community relations, lobbying, media relations
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What are some examples of personal selling?
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Sales presentations, telemarketing, incentive programs, special sales events
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What are some strengths of television advertising?
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High impact.
Audience Selective. Schedule when needed. Fast awareness. Sponsorship availability. Merchandising possible |
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What are some weaknesses of TV advertising?
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$$$
Uneven delivery to market Up-front commitments required |
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What are some strengths of radio advertising?
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Low cost per contact.
Audience selectivity. Schedule when needed. Length can vary. Personalities available. Tailor weight to market. |
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What are some weaknesses of radio advertising?
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Non-intrusive.
Audience per spot small. No visual impact. High cost for good reach. Cluttered |
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What are some strengths of magazine advertising?
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Audience selective.
Editorial association Long life. Large audience per insert. Excellent colour. Minimal waste. Merch possible. |
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What are some weaknesses of magazine advertising?
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Long lead time needed.
Readership accumulates slowly. Uneven delivery by market. Cost premiums for regional or special editions. |
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What are some strengths of newspaper advertising?
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Large audience.
Immediate reach. Short lead time. Market flexibility. Good upscale coverage. |
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What are some weaknesses of newspaper advertising?
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Difficult to target narrowly.
Highest waste. High cost for multiple use. Minimum positioning control Cluttered |
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What are some strengths of poster/billboard advertising?
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High reach.
High frequency of exposure. Minimal waste. Can localise. Immediate registration. Flexible scheduling |
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What are some weaknesses of poster/billboard advertising?
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No depth of message.
High cost for broad use. Best positions already taken No audience selectivity Poor coverage in some areas Minimum one-month purchase. |
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What is the perceived cost?
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Monetary, physical or psychic expected negative consequences of a proposed behaviour
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What are some pricing objectives?
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Surplus maximisation.
Cost recovery. Market size maximisation. Social equity (accessibility) Market disincentivisation |
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What are some pricing strategies?
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Cost oriented pricing.
Value Oriented Pricing. Competition Oriented Pricing |
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What does Place involve?
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Inventory, warehousing, transportation, intermediaries, point of sale
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In the arts, Place also involves:
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Ticket access
Venue Timing |
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What are the 4 types of distribution channels?
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Direct Channel.
Short Channel. Long Channel. Ultralong Channel. |
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Draw the distribution channel types?
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A service combines...
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Factory, retail and point of consumption into one
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Because of this, a service has to manage:
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Production, retail/service personnel and consumption behaviour
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Since a service is inseparable from the environment in which it is produced, there is a need to focus on...
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Atmospherics.
Appearance and behaviour of service providers. Price. Tying goods to services. Supply and demand syncronisation |
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Draw the marketing management system map
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What are the different types of research?
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Quantitative eg survey research.
Qualitative eg focus groups, interviews. Experimentation. Observation. Secondary Research. |
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What methods minimise research costs?
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Convenience sampling.
Snowball sampling. Piggy-backing. Volunteer field workers. Student projects. Board members. |
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What is backward marketing research?
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