Marketing Strategy Components: Audits to Control
C2: Marketing Audits
Internal Audit
Examine resources and capabilities, current offerings, past results, business relationships, and key issues that affect marketing and performance.
External Audit
Assess PESTLE factors, competitive factors, differentiation (product, service, brand image), cost (unit, transaction, marketing expenses), and marketing advantage (market share, brand awareness, distribution).
C3: Consumer and Business Markets
Market Definitions:
- Potential Market: All customers who may need,
Strategic Marketing Fundamentals and Business Growth
Branding: Concept and Significance
Meaning and Concept
Branding is the process of creating a unique name, symbol, design, or identity for a product or company that distinguishes it from competitors and builds a lasting image in the minds of consumers.
Importance and Significance
- Product Identification: Helps consumers easily identify and differentiate a product from similar offerings in the market.
- Customer Loyalty: Strong brands encourage repeat purchases and develop customer loyalty.
- Premium Pricing:
Core Marketing Concepts and Tourism Terminology
Core Marketing Concepts
Marketing: The process of creating, communicating, and delivering value to satisfy customer needs profitably.
Fundamental Needs and Desires
- Needs: Basic human requirements such as rest, safety, or belonging.
- Wants: Shaped by culture and personality; how people choose to satisfy their needs.
- Demand: Wants backed by purchasing power and willingness to pay.
Customer Relationship Metrics
- Customer Value: The difference between perceived benefits and total costs.
- Customer Satisfaction:
Strategic Brand Impact: P&G, Burger King, and KFC Cases
1. P&G – “The Look” Campaign Analysis
This campaign is not trying to sell a product. It’s trying to change how people think and feel. That means it fits under institutional advertising, advocacy advertising, and cause marketing. It deals with brand image, emotion-based positioning, and public relations, even though it’s structured like a paid ad.
What makes this ad powerful is that it uses emotional appeal (especially empathy and discomfort) to engage viewers. It doesn’t have a slogan
Read MoreDigital Media Strategies: Content, Ethics & Sustainability
Introduction to Digital Media
Digital media refers to any form of content that is created, shared, or consumed using digital technology. Examples and platforms include: Starbucks, ISB, Instagram, Facebook, IKEA, and Spotify.
Content Marketing
Content marketing involves creating and sharing online material (such as videos, blogs, and social media posts) that does not explicitly promote a brand but is intended to stimulate interest in its products and services. Because content marketing is all about
Read MoreMarket Segmentation: Requirements, Methods, and Positioning Strategy
Understanding Market Segmentation
Market segmentation is defined as the process of dividing a heterogeneous market into homogeneous groups based on several common characteristics. This division allows for the application of a differentiated commercial strategy tailored to each group. The final aim of segmentation is to identify homogeneous groups within a large, heterogeneous market.
Key Dimensions of Segmentation
- A Process: It develops through a series of sequenced tasks and actions.
- Division into