Core Marketing Strategy, Mix (4Ps), and Consumer Behavior Fundamentals
Marketing Foundations: Definitions & Mix (4Ps)
- Marketing: Process of creating, communicating, delivering, and exchanging offerings that have value.
- Needs vs. Wants: Needs are basic requirements; Wants are specific desires shaped by culture and marketing.
- Exchange: Buyer/seller trade that satisfies both parties.
- Marketing Plan: Document outlining situational analysis, mission/objectives, strategy, tactics, and evaluation.
- CRM (Customer Relationship Management): Building and maintaining profitable
Essential Marketing Concepts and Strategic Frameworks
Defining Marketing
The aim of marketing is to know and understand the customer so well the product or service fits them and sells itself. Marketing is a contest for people’s attention; it is what you do, not what you say.
The Marketing Mix (4 P’s)
The traditional Marketing Mix consists of:
- Product
- Price
- Promotion
- Placement
Evolution: The strategic combination now emphasizes Client Service and Client Orientation.
Neuromarketing and Branding
Neuromarketing is based on brain functions:
- New Brain (Thinks)
- Mid Brain
Essential Concepts and Metrics in Advertising Media Planning
The Core Function of Media Planning in Advertising
Media planning involves determining the most effective way to deliver advertising messages to the right audience through the right media channels.
Key Functions of Media Planning
- Identifying target audience based on demographic, psychographic, and behavioral factors.
- Selecting appropriate media channels such as TV, print, digital, or outdoor.
- Deciding on timing and frequency to maximize impact.
- Allocating budget effectively across media platforms.
- Maximizing
Consumer Behavior: Definitions, Attention, and Data Ethics
Definitions of Consumer Behavior
Consumer behavior is defined in various ways by social scientists and marketers:
- Definition 1: It is the study of individuals, groups, or organizations and all the activities associated with the purchase, use, and disposal of goods and services, and how consumers’ emotions, attitudes, and preferences affect buying behavior.
- Definition 2: It is the study of the processes involved when individuals or groups select, purchase, use, or dispose of products, services, ideas,
Facebook and Twitter: Facts, Features, and Marketing Strategies
Facebook: Key Facts and History
Foundation Date: Cambridge, Massachusetts, 2004
Headquarters: Menlo Park, California
Founders: Mark Zuckerberg, Eduardo Saverin, Andrew McCollum, Chris Hughes, Dustin Moskovitz
Employees (March 2013): 4,900
Users (March 2013): 1.11 billion
Available: Multilingual (70 languages)
History
In February 2004, five students from Harvard University created the first Facebook platform as a way to connect with other students. The project became so popular that in a couple of months
Read MoreStrategic Global Marketing & PR: Industry Insights
Global Marketing & Business Fundamentals
Company Growth & Market Advantage
As companies recognize and embrace new concepts, their market advantage generally increases.
Promotional Mix Elements
Advertising, public relations, and other forms of communication are key components of the Promotion mix.
Global Company Marketing Advantage
A global company possesses a critical marketing advantage due to its extensive reach and scale.
Leading Product Category & Brand Example
An example of a leading product