2023 Marketing Operations Name University Discuss the six steps in the Hierarchy of Effects Model The first step is making customer | Assignments Online

 

 

 

 

 

 

 

 

Marketing Operations

 

(Name)

 

(University)

 

 

 

 

 

 

 

 

Discuss the six steps in the Hierarchy of Effects Model.

The first step is making customer aware of products in the market through promotional activities (Lamb, 2011). It involves using advrrtisement on different platforms. The second phase place information available to make customer gain knowledge about the product. Such information is availed to customers by having comprehensive advertising. The third step is making product likable by having attractive features. Use attractive things like unique packaging. Fourth activity is making product stand from rival products by influencing preference. Use high raw quality material that gives high quality products that give an edge to competitors. The fifth phase is putting purchase desire in the customer by testing product. If it is a car allow a test drive. The sixth step is making payment means easy to allow the easy and convenient purchase. Have many payment platforms to offer customer convinience of paying for goods. It can allow cash, mobile cash and electronic means.

Explain the use of SMART objectives in a Marketing Communications Plan. Provide an example of a SMART goal.

According to Blick (2011), the marketing plan should be specific by focusing on one goal at a time for effectiveness. Increase in market share is a goal among many that could be adopted. Plans need to me measurable by quantifying them. Planning to evaluate market size of market in terms of sales volume.Plans should be achievable by having attainable goals. Like using marketing and sales employees to do a market survey. Realistic plans are those that are within reach of firm’s resources. Internal research should be adpoted where resources cannot pay external researchers. Goals should be timed by having a timeline for goals. An example would be increasing sales to 50 percent in a year by employing digital marketing.

What is customer relationship management (CRM) and show how database marketing enhances CRM?

Pulizzi (2014) says that CRM are technologies, strategies and practices that firm employ in their betterment if interaction with customers. It allows for compiling data at the point of interaction between business and customer. Point of interaction can be a sales point, registration of products bought or on social platforms like Facebook, Whatsapp and Twitter. Database marketing captures customer data and analyses it to strategic decisions. The data captured is analysed into different decision products like grap and report representation. The moderls tailor decision to fit the firm. Customer needs and wants are identified and decision on how to best present a project is made. The decision helps improve customer relationship as well as retain customers. The decisions are used to set sales growth strategies.

Explain the difference between brand equity, brand awareness, and brand image. Choose one product and discuss how each of the terms relates to that brand.

According to Lamb (2011), brand image is the consumers’ viewpoint about a product. Brand awareness is extended of customer familiarity with a product. Brand equity is that product value that emanates from goodwill. An iPhone is charged high price due to brand equity. The phones have earned that additional value for customers consider them unique for they use a different features from other smartphones.  The phone is bought by the rich in society due to brand image. The phones are considered for the rich for they are highly placed hence the rich perceive them as of high quality as opposed to all smartphines in the market. The rich have used previous products like iPods and are aware of the brand. Apple company has been known to produce high quality product thus people have been aware of the company before it started producing phones.

Explain how Marketing Communications is different from Marketing. What is Integrated Marketing Communication (IMC)?

Blick (2011) says that marketing starts with conceptualization and development of products which is based on researched customer needs and expectations. It is inclusive of packaging, pricing and distribution. Marketing covers all those things from end of production to even after consumption of goods by clients. It covers the customer side of the supply chain. Marketing communication creates awareness, remind and persuade customers about products. The aim is to retain existing customers and attract new potential customers by presenting products in an appealing way. ICM is a process of meeting goals of a marketing campaign by using intertwined different promotion steps which complement each other. Use of personal selling, bronchures, advertising and digital marketing among other methods at the same time to present goods to the market goods.

List and explain the steps in the Brand Adoption Process.

The first step is creating product awareness by providing adequate information (Pulizzi, 2014). That involves using different promotional activities to reach the customer and tell them availability of products. The second activity is creating interest in customers to want more information about products. Tell customers of distinct features that will create interest in them to want to try to the product. The third phase is allowing customers evaluate benefits to be derived from the product. If it is a car give a test drive in the car to illustrate performance. The fourth step is trial by purchase to determine the usefulness of the product. That involves telling them of the durability to establish useful time of a good. The fifth step is adoption of the product if it meets customer needs and expectations. Customer makes a buy or decline if it meets their wants or not.

Explain the four components to a SWOT analysis and provide an example of each.

Lamb (2011) says that strengths are the advantageous characteristics of a firm like having competent and experienced workers. It is what gives a firm a competitive edge over rivals for it makes it more acceptable by customers. Weaknesses are those disadvantageous features in a business like having inefficient distribution. It is what makes a firm at a disadvantage from rival firms. Opportunities are components that a company can use to its benefit like implementing digital marketing. It is things that a firm can exploit in both internal and external encironment for benefit over its rival firms. Threats are aspects that can cause trouble in a business like new products by rival companies. Threats are things in the environment that may make the firm at verge of failure if they persist without action to eliminate them by the firm.

Explain the reasons why a product might need to be re-positioned. Provide an example for each.

Customer need changes like the necessity of a new software call for the production of a new mobile phone (Blick, 2011). Customers have become diversified and their needs and wants change over time. New products by rivals have seen Apple respond by releasing new devices like Samsung. A firm wants to reposition itself by presenting new products that increase its line of products. New market target sees Samsung make mini phones of a new version. Firms always want to penetrate new markets thus they reposition them self to move to new markets. Changes in the macro environment saw Samsung hedge Nokia out of smartphones business for it saw the need for Android phones. Firms change to take advantage of technological advancement. Improving products are the order of the day in Samsung phones. Firms improve their existing products to benefit from a boost in its brand value and image.

What are the three methods to determine a marketing communications budget? Explain each method.

According to Pulizzi (2014), reviewing previous year budget is one way of determining marketing communications budget. That involves altering last year budget depending on prevailing economic aspects like changes in prices of goods. Refer to last year sales volume to determine a portion to go to the budget. That portion is a percentage of a sales volume. That involves setting a certain percentage say two percentage of the sales volume realised in the previous year. A blank page budgeting that develops it from scratch by allocating values to each item. Items should be listed and totaled to give the lump sum figure. A blank page budget allows for creativity for it allows a firm to deviate from normal way of doing things.

Explain the four main ways marketing communication professionals use to determine a target market.

The first method is determining the demographics which focus on the age, profession and gender (Lamb, 2011). That shows distribution of the target population and things that a firm should focus to increase sales. The second aspect is establishing an economic endowment regarding income distribution and spending habits. That helps in determining the pricing models, group to focus due to income availability and goods o produce thag meet customer spending tastes and preference. The third aspect is determining behaviors regarding digital media they frequently use. That will help determine ways to promote goods and if its the youth use Facebook, Whatsapp and Twitter. The last point is by use of psychographic aspects like their attitudes, values and interests. It involves research and development to get idea of the thoughts of customers needs and wants in order to satisfy them.

 

 

 

References

Blick, D. (2011). The ultimate small business marketing book. Surrey: Filament Publishing

Lamb, C. W., Hair, J. F., & MacDaniel, C. (2011). Marketing. Mason, Ohio: South-Western Cengage Learning.

 

Pulizzi, J. (2014). Epic content marketing: How to tell a different story, break through the clutter, and win more customers by marketing less