Module 1

50問 • 1年前

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are decisions to be made about the product or service a company wants to sell. These decisions are vital to creating a successful marketing mix to meet the company's objectives.

Product Decision

While making Product Decisions, marketers consider:

• The Core Benefit • The Nature of the Product and Service • Augmented Features

The item up for sale

Product

is a basic formula for identifying and working with the essential elements of your marketing strategy.

4Ps of Marketing Mix

is the key and is the root of all things marketing.

Product

will determine the supply, demand and marketing strategy.

Price

Marketing is all about putting the right product/services at the right place at the right time making it critical to research and evaluate which locations are ideal for turning leads into prospects into customers.

Place

is how you will let the world know that your product/services exists. This refers to all the marketing communication that is done in order to show the benefits of your product/service within the market. This includes how you increase sales.

Promotions

- are the characteristics and defining features of a product.

Product Attributes Decisions

Three individual product decisions

Product Quality Decisions Product Feature Decisions Product Design Decisions

The quality of a product is crucial for its marketing. It plays a key role in positioning as products can be positioned based on their high quality.

Product quality decisions

are crucial for differentiation. Adding additional features makes a product stand out from similar products offered by competitors.

Product Features Decisions

Similarly to product features, product design can help marketers differentiate their offerings from competitors.

Product Design Decisions

refer to decisions marketers must make about one particular product or service.

Individual Product Decisions

not only refers to the physical thing that can be sold on hand. In wide analysis of marketing, it also refers to the satisfaction or the benefits that your customer was looking for. This is the meaning which must be accepted in a marketing sense, so that you become `consumer-oriented'.

Product

The process of making a product stand out from similar ones in the market by highlighting unique features, benefits, or qualities through distinct packaging, branding, and marketing strategies.

Product Differentiation

One way to differentiate a product is by its unique features or attributes.

Features and Attributes

Elements of Product Differentiation

Features and Attributes Quality Design and Packaging Branding and Image Customer Service and Support

is essentially how a company presents its product to consumers in a way that distinguishes it from competitors and appeals to specific desires or needs.

Product Positioning

several strategies to improve product positioning:

Understand Your Target Audience Identify Unique Selling Proposition (USP) Segmentation and Targeting Craft Compelling Messaging Create Emotional Connections

It is a consumer item that is widely available and purchased frequently with minimal effort.

Convenience Goods

consumer goods that are usually purchased only after the customer has compared price, quality, and style in more than one store

Shopping Goods

These are goods which are 'durable' or which last for some time. Examples of such goods would be electric irons, refrigerators, television sets, etc. This type of product requires more selling effort from the salesman.

Durable Goods

These are the goods which is used immediately for consumption by the consumer.

Non- Durable Goods/Servicez

Allows a good or service used by an organization in producing other goods or services in carrying out its operation.

Industrial Product

are generally subject to greater standardization, as against certain consumer products which require frequent changes in fashion and style.

Industrial Products

normally is an important promotional tool for consumer products but may not be so in the case of industrial products.

Advertising

is generally more important to find industrial products.

Personal Selling and After sales service

generally involve high value purchases and involve competitive bidding based on price competition. Selling is done on the basis of quality or tangible attributes. As against this, consumer products are very often sold for psychological satisfaction.

Industrial Products

require elaborate channels of distribution, but industrial products are sold through fewer outlets and often directly by the organization itself.

Consumer Products

is not just one single strategy, but rather a combination of different marketing techniques. It depends entirely on how your customers spend their time.

Marketing

Types of Marketing Strategy:

Word-of-Mouth Marketing Search Engine Optimization (Seo) Social Media Marketing Print Marketing Email Marketing Direct Marketing Marketing Channels

If your customers are talking about a brand without any hesitation, that brand market presence, reputation and customer base, skyrockets. These customers openly recommend a brand to their friends, families, or even strangers online. This is incredibly helpful to any company trying to reach more people organically.

Word-of-Mouth Marketing

Is the process of optimizing the content on a website so that it appears on search engine results. Marketers use it to attract people who perform searches that imply they’re interested in learning about a particular industry or product.

Search Engine Optimization SEO

Refers to the use of social networks to create impressions on their audience over time.

Social Media Marketing

As newspapers and magazines get better at understanding who subscribes to their print material, businesses start to sponsor articles and advertisements in publications their customers are interested in.

Print Marketing

Is one of the most profitable and effective techniques in terms of return. Naturally, here you are sending emails to your email list but make sure to define your segments well in order to be effective.

Email Marketing

Consists of any marketing that relies on your direct communication or distribution to individuals rather than through a third-party such as mass media.

Direct Marketing

Marketers used a variety of different channels to reach their target audiences. From traditional channels like billboards and radio advertisements to digital channels like social media and user reviews, the flexibility that marketers have now is more than ever before.

Marketing Channels

The perception of your business in the minds of your customers.

Positioning

the online face of your company. It’s your storefront – even if you’re not physically selling a product or service through it.

Website Foundation

is a grouping of technologies that marketers leverage to conduct and improve their marketing activities

Technology Stack

This software exists to keep your company’s Sales efforts organized and make your team as efficient as possible on the business development front.

CRM (Customer Relationship Management)

Allows you to automate and measure marketing activities. It also allows you to score and segment leads based not only on demographic or firmographic data points but also on their level of engagement on your website and the types of content they’re viewing.

• MAP (Marketing Automation Platform)

The third and final foundational piece of your Technology Stack is your web analytics software. Unlike with CRMs and marketing automation platforms, where you could reasonably choose from many.

Web Analytics

A strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience — and, ultimately, to drive profitable customer action.” - Joe Pulizzi (Author and Founder of the Content Marketing Institute). The most important word in Joe Pulizzi’s definition of content marketing is “valuable”.

Content Strategy

Is a marketing strategy that looks at consumer need, and the product you're offering, and then finding the perfect way to bring awareness to that product in a way that will hopefully later translate to promising leads.

Demand Generation

three ways to approach Core Element number five – demand generation.

1. Organic channels 2. Outbound channels 3. Paid media channels

the practice of gathering and analyzing data, from various digital sources, to gain actionable insights into a company's digital marketing strategies

Data Analysis

4Ps of Marketing Mix

Product Price Place Promotions

Module 6 UTS

Angel Holivelle Carasco · 32問 · 1年前

Module 6 UTS