Metabical case study

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Segmentation Can Be Done by
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demography (age), geography (location), psychography (people who want to look like movie stars) and behavior (choose drugs, like certain brands, etc.)
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Primary target
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patients
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secondary target
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doctors
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4 components of the communication model
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source, message, medium, and receiver
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5 major promotion tools
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advertising, sales promotion, personal selling, pr, direct and digital marketing
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promotion mix strategy used
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push strategy (calls for using the sales force and trade promotion to push the product through channels, the producer promotes the product to channel members which in turn promote it to final consumers
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marketing mix four ps
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product (drug), price (list price and discounts or allowances), place (channels, coverage, locations, inventory, transportation and logistics) and promotion (advertising, pr, sales promotion, direct marketing and digital marketing)
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marketing communication draws from 4 different consumer phases
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awareness, interest, desire, and action
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marketing funnel pulls through old and new ways of consumer purchase path
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awareness, consideration, preference, action, loyalty, advocacy and ZMOT
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types of media that are important to media marketing
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paid, owned, shared and earned
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sales promotion options
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you can promote sales for consumers (think coupons or samples), trades (think discounts or allowances) or businesses (think car shows or event marketing)
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steps in developing a sales promotion program
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determine the size of incentive, set of conditions for participation, how to spread the word about the promotion, length of program and evaluate
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social marketing
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Identify behavior you want to change and the audience you want to target > do some research on why the problem exists/why they perform the behavior you're trying to eliminate > develop your program > test the message and concept > try the program out (pilot) > revise and launch > monitor and evaluate
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Customer Driven Marketing Strategy
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involves market segmentation, market targeting, differentiation and positioning
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Modern marketing system
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suppliers, company and competitors, marketing intermediaries and final consumers
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Marketing Process
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1. understand the marketplace and customer needs and wants 2. design a customer driven marketing strategy (customers to serve, value proposition, marketing management orientations, etc) 3. construct an integrated marketing program that delivers superior values (SOCIAL MARKETING CONCEPT) 4. build profitable relationships and create consumer delight (Customer Relationship Management) 5. capture value from customers to create profits and customer equity (Create customer loyalty and retention)
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competitive advantage
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SWOT analysis
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3 basic competitive strategies
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cost leadership, differentiation and focus
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red ocean
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fighting over existing things bloody, finite market space very competitive
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blue ocean
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expanding new markets, creating new markets low costs and greater value through differentiation
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porter five forces
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threat of new entrants, threat of substitutes, buyer power, supplier power and competitive rivalry (industry structure drive completion and profitability)
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factors of competition
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industry growth rate, technology and innovation, government and complementary products or services
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marketing strategy
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who are we going to serve them and how are we going to serve them? (SEGMENTATION AND TARGETING) and decide on value proposition (DIFFERENTIATION AND POSITIONING)
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Marketing strategy to 4ps
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design a customer driven marketing strategy flows to an integrated marketing program that developers superior value (INCLUDES FOUR PS, PRODUCT, PRICING, PLACE AND PROMOTION (ADVERTISING, PERSONAL SELLING, PR AND DIRECT AND DIGITAL MARKETING)
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