What is the focus of Chapter 4 in Promotion and Advertising Management?
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Perspectives on Consumer Behavior.
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What is the focus of Chapter 4 in Promotion and Advertising Management?
Perspectives on Consumer Behavior.
What is the focus of the Marketing and Promotions Process Model?
It outlines the steps involved in effectively promoting and advertising products.
What can prompt a change in a product's or brand's position?
Declining or stagnant sales and anticipated opportunities in other market positions.
Who is the target audience for Gatorade?
Active athletes of all ages and performance levels who love to compete.
What is the primary benefit of Gatorade?
It quenches thirst while replacing fluids and electrolytes lost through strenuous activity.
How do slogans differ from taglines?
Slogans can be longer than taglines.
What are complementers in the context of marketing?
Firms that benefit from other firms selling products, typically through complementary products.
What does a CONTEXT analysis provide an overview of?
The general environment, industry, and marketplace.
What is the structure of a positioning statement?
Among [target market], [x] is the brand of [frame of reference] that [point of difference] because [reason to believe].
What does a slogan encompass?
A company's mission, what it stands for, and how it helps customers.
What is Evernote?
A free downloadable app for computers and smartphones that allows synchronization of notes and files.
What is the role of collaborators in marketing?
They help the firm market products.
What is the purpose of a positioning statement in marketing?
It serves as the messaging cornerstone to an integrated marketing campaign.
What does a value proposition encapsulate?
The position a company wishes to take compared with competitors.
What are some elements to consider in a CONTEXT analysis?
Trends, dynamics, problems, and opportunities.
What is included at the bottom of Evernote's advertising page?
A call to action.
What is Rule 1 in marketing warfare?
Be familiar with the terrain.
What is the focus of the Marketing and Promotions Process Model?
It outlines the steps involved in effectively promoting and advertising products or services.
What does the formula V A - P A > V B - P B represent?
It indicates that the value and price of option A must be greater than that of option B for a persuasive value proposition.
What is the first step in the Strategic Marketing Process?
5Cs.
Who are considered collaborators in marketing?
Suppliers, distributors, retailers, and key influencers.
What follows the 5Cs in the Strategic Marketing Process?
4Ps.
Give an example of a well-known slogan.
There are some things money can't buy. For everything else, there's MasterCard.
What does the two-word headline in Evernote's advertising communicate?
The product's benefit.
What is the slogan of M&M'S®?
'Melts in Your Mouth, Not in Your Hands.'
What specific benefits can customers expect from the Value Proposition?
The specific benefits that customers can expect from the product.
Who is the author of the Promotion and Advertising Management material?
Joseph C. Salvacruz.
Who is the author of the Marketing and Promotions Process Model?
Joseph C. Salvacruz.
What is important to understand about marketplace segmentation?
How the marketplace is segmented.
What does IMC stand for?
Integrated Marketing Communications.
What mission does M&M'S® promote?
Championing the power of fun to create a world where everyone feels they belong.
When was the framework for Marketing Strategy Formation published?
June 30, 2014.
Provide an example of a positioning statement.
Among snackers, Snickers is the brand of candy bar that satisfies your hunger because it is packed with peanuts.
What does a value proposition clearly articulate?
Why someone would want to buy your offering.
Why is consistency important in IMC?
It builds brand trust and recognition among consumers.
What is meant by 'reason to believe' in a positioning statement?
It provides justification or evidence for the brand's claims.
How do slogans differ from taglines?
Slogans can be longer than taglines.
What must marketers be knowledgeable about to develop an effective marketing mix?
The issues and options of each element of the mix.
What should a value proposition explain about the offering?
Why it is unique and different.
What is the core of your competitive advantage?
Your value proposition.
What should marketers analyze to develop their marketing strategy and mix?
The market and use the data.
What is the effect of the color scheme used in Evernote's advertising?
It is calming to the eye.
What is essential to establish why your product is superior?
Adopting the Competitive Positioning framework.
What are key considerations regarding market size?
Market size, growth rate, and market potential.
What is the goal of positioning a product or service?
To make it unique within the marketplace.
What type of advertising is used in PUSH strategies?
Trade advertising, aimed at motivating wholesalers and retailers to purchase products for resale.
What is the third step in creating a value proposition?
Differentiate & position yourself.
What does 'size and growth' refer to in market segment evaluation?
Market size, growth rate, and market potential.
What is essential for a persuasive value proposition?
Offering superior points of difference that are relevant to customers.
Who is the author of the Marketing and Promotions Process Model?
Joseph C. Salvacruz.
Why is defining a target market important in a value proposition?
It ensures the offering is well-defined for the intended audience.
What is the final focus in the Strategic Marketing Process?
Relationships.
What is essential for combining elements in a marketing program?
Knowing how to combine the elements effectively.
Who authored the framework for Marketing Strategy Formation?
Robert J. Dolan.
What are the two basic principles of marketing warfare?
Position and Differentiate.
What does 'structural attractiveness' in market segments refer to?
Number of companies, ease of entry, substitutes, and competitive position.
How does IMC contribute to the marketing process?
By integrating various promotional tools to create a unified strategy.
What does a strategic marketing plan guide?
The allocation of an organization's resources.
What is Rule 2 in marketing warfare?
Know your enemies.
How do slogans differ from taglines?
Slogans can focus on the product or company, while taglines focus on the essence of the company.
What are the goals of PULL strategies?
To create demand among consumers and encourage them to request the product from retailers.
What is a perceptual map used for in marketing?
To visualize the positioning of different products in relation to consumer perceptions.
What factors should be considered when comparing competitor products?
What products competitors sell and how they compare to your products.
Who is the author of the Marketing and Promotions Process Model?
Joseph C. Salvacruz.
What does a slogan encompass?
A company's mission, what it stands for, and how it helps customers.
What do the three images in Evernote's advertising represent?
Examples of what the product can do.
What factors are evaluated for target marketing purposes?
Size and growth, structural attractiveness, company objectives and resources.
What is Gatorade's positioning statement focused on?
Athletic performance and hydration for competitive athletes.
What macro-environmental factors should be considered in a CONTEXT analysis?
Factors that will affect the organization.
What does a slogan encompass?
A company's mission, what it stands for, and how it's helping customers.
What is the focus of PULL promotional strategies?
Spending on advertising and sales promotions directed toward the ultimate consumer.
What is the purpose of a tagline?
To evoke an image of the brand in the minds of customers and enable lighthearted associations.
Can slogans be longer than taglines?
Yes, slogans can be longer than taglines.
How does market segmentation contribute to an IMC program?
It allows for tailored messaging and strategies to meet the needs of different consumer groups.
What is the focus of Promotion and Advertising Management?
The strategies and techniques used to promote products and services.
What makes repositioning a product or brand difficult?
Entrenched perceptions and attitudes toward the product or brand.
What is a key characteristic of a strong value proposition?
It has a very clear offering and benefit.
How do we define our marketplace?
By identifying the characteristics and boundaries of the market.
What is the focus of the Marketing and Promotions Process Model?
It outlines the steps involved in marketing and promotional activities.
What does the Value Proposition explain?
How your product solves problems and improves situations.
What unique endorsement does Gatorade have?
It is the only brand endorsed by all major US pro sports.
How do complementers contribute to a firm's success?
By enhancing the value of the firm's products through complementary offerings.
How do Ries and Trout define positioning?
Positioning is what you do to the mind of the prospect.
Give an example of a slogan that is NOT a Value Proposition.
L’Oréal: 'Because we’re worth it.'
What should a company assess to ensure a good fit with a market segment?
Company objectives, resources, capabilities, and competencies.
What is a competitive strategy according to Porter?
Strategies such as low cost (cost leadership), unique differentiation, and niche (focus).
What is cost leadership?
A competitive strategy focused on being the lowest cost producer in the industry.
What does unique differentiation refer to?
A competitive strategy that focuses on offering unique products or services.
What should companies consider regarding their objectives and resources when evaluating market segments?
Company fit, capabilities, and competencies.
What is competitive analysis?
Analyzing the competition in the marketplace and searching for a competitive advantage.
What are some examples of competitive advantages?
Better quality products, superior customer service, low production costs and lower prices, dominating channels of distribution, and effective advertising.
What factors should be considered regarding the size of the marketplace?
The size of the marketplace and its growth rate.
What does Gatorade's formula enhance?
Performance.
What is a 'booster' in the context of a value proposition?
An additional element that enhances the value proposition.
What aspect of customers' behavior should be described?
The behavior of customers/buyers.
What is the primary role of IMC in marketing?
To ensure a consistent message across all marketing channels.
What is the relationship between value proposition and marketing mix?
The marketing mix is developed from the value proposition.
What is a key purpose of conducting a CONTEXT analysis?
To demonstrate a need or gap in the marketplace.
What is the primary goal of PUSH promotional strategies?
To push the product through distribution channels by selling and promoting it.
What is the second step in creating a value proposition?
Link benefits to value offering.
What prevailing conditions should be analyzed in a CONTEXT analysis?
Economic conditions affecting the nation or world.
What is an important cost consideration when targeting a market segment?
Cost of reaching the segment.
What factors contribute to the structural attractiveness of a market segment?
Number of companies, ease of entry, substitutes, and competitive position.
What is target marketing?
The process of identifying and focusing on specific groups of consumers.
What is a core competency?
A defining capability or advantage that distinguishes a company from its competitors.
Why do consumers purchase the products of competitors?
Due to various factors including product quality, price, and customer service.
What is NOT considered a Value Proposition?
A slogan or a tagline.
What does a business model describe?
How the company makes money, including components, product/service offerings, costs, prices, revenues, and margins.
What does the 'point of difference' in a positioning statement refer to?
It highlights what makes the brand unique compared to competitors.
What is the key focus in marketing according to the text?
Positioning.
What is a perceptual map used for in target marketing?
To visualize the positioning of different market segments.
What regulatory aspects should be examined in a CONTEXT analysis?
Regulatory philosophies, trends, and legislation affecting society.
What technological influences should be considered in strategic decision making?
Technological forces likely to influence decisions.
What should be made clear in a value proposition?
Who your target customer is, what you offer to them, and how you are different.
What marketing-mix decisions influence advertising and promotional strategy?
Decisions related to product, price, place, and promotion.
What does positioning refer to in marketing?
The place that a product occupies in a customer's mind.
What is the first step in creating a value proposition?
Identify customer benefits.
What are the components of a business model?
Components/structures, product/service offerings, costs/expenses, prices/revenues/margins.
What is one approach to positioning that focuses on the consumer?
Linking the product with the benefits the consumer will derive.
What is the competitive approach to positioning?
Positioning the product by comparing the benefits it offers versus the competition.
What does positioning equal in marketing terms?
Differentiation.
What is a niche strategy?
A competitive strategy that targets a specific market segment.
What is an example of a positioning statement that is NOT a Value Proposition?
'The #1 retargeting platform' (AdRoll).
What are the key factors to evaluate market segments for target marketing?
Size and growth, structural attractiveness, company objectives and resources.
What should you list when creating a value proposition?
All benefits your product offers to customers.
What does a strategic marketing plan guide besides resource allocation?
Specific marketing programs and policies.
What kind of associations do taglines create?
Lighthearted associations with the business.
What does NBTC stand for in lifestyle segmentation?
National Brand Targeting Classification (assumed based on context).
What is the significance of understanding relative market shares?
It helps in assessing the competitive landscape and positioning within the market.
From what does a strategic marketing plan evolve?
An organization's overall corporate strategy.
What understanding does a strategic marketing plan provide?
Market opportunities, competition, and market segments.
What is the role of advertising and promotion in an organization's integrated marketing program?
To effectively communicate the value of products and services to target audiences.
What is the significance of 'cost of reaching the segment' in market evaluation?
It impacts the feasibility and effectiveness of targeting that segment.
What are positioning and repositioning strategies?
Techniques used to establish a brand's identity in the minds of consumers and adjust it as needed.
Why is it important to identify major players in the industry?
To understand the nature of competition and the alternatives customers can choose.
What should you identify regarding your products in a value proposition?
What value your products bring to the customer.
What is competitive advantage?
The attributes that allow a company to outperform its competitors.
What is a competitive advantage?
Attributes that give a firm an edge over competitors.
