John Camp's/Kant 4 "keys to being successful" - Have to be able to:
1. Market yourself
2. Sell yourself
3. Network (K-now ppl)
4. Maintain Contact (sustain long term relationships)
To be successful: you must have these 5 traits:
C.H.A.S.E.
1. Creative
2. Agressive
3. Enthusiastic
4. Smart
5. Honest/Trustworthy
Companies look for ___ and ____ as some of their core values.
Trust and Honesty
What do people think and do when they see or hear your name... How do you develop this? ___ ____ (how you sell yourself)
Personal Branding
What makes you likable?
- your ____ delivery, and
- your ____ delivery.
- Vocal delivery
- Visual delivery
Vocal delivery is ___% of your emotional impact. Tone, sound like you care. Try Pausing.
38%
Visual delivery is ___% of your emotional impact.
Facial Expressions, and your
____ look*
55%, Visual = "Default look
the emotional impact you have on somebody.
Likability
___ _____ are the #1 most critical part of Visual delivery
FACIAL EXPRESSIONS
Images can be created as quick as ___ of a second. And opinions can be formulated in only ____ seconds.
1/24th of a second.
Opinions in 10 seconds.
In sustaining your default look and dealing with others' facial reactions to you, its important to:
Maintain Poise!
The last 7% of your emotional impact (likability) is your *_____ ____ (or maybe ____ ___).
Verbal Arrangement/Physical Appearance
Kenneth Feinberg (who listened to 2000 ppl's appeal, only 2% appealed to next level) says most important skill in negotiating is ______.
Listening
#1 thing IV leagues look for are ___ and ____ skills
Interpersonal and Communication skills
2nd most critical skill: _____. Interact in a positive way even with differences.
Teamwork
#3 skill of importance
Honesty (ethical)
#4 characteristic:
Smart
3 types of presenters;
- Show runner
- Neophyte
- Artists
Sensational and Exceptional, can sell anything
show runner
nervous presenter, get it done, effective, MAJORITY of presenters.
Neophyte
a little different, extreme dress, diff. lifestyles and looks. This can bring a whole lot of VALUE.
Artist
Personal Brand formula:
___ + ___ + ____ X _____
Performance + Personality + (Visibility X Trust)
Performance =
your success
People have different ideas about what ____ is
credibility
what makes you BELIEVABLE", What we do to make people pay attention to us and to influence. Critical.
Credibility
What are the 3 elements that can improve your credibility?
1.
2. ___ (show you're skilled/competent)
2. ___ (style/swagger/that makes you look able)
1. Trust/Honesty (T.E.A.)
2. Expertise
3. Attractiveness
The 4 Marketing Management Philosophies (Orientations):
1. Production orientation
2. Sales orientation
3. Marketing orientation
4. Societal orientation.
Biggest flaw of ____ orientation: You can be the best at it but theres just no population or customer base to want it.
Production orientation
Satisfying
customers needs and wants providing them with product/serv. that they will use.
Marketing orientation
Marketing orientation is driven by ____ ____.
Customer
Satisfaction
Satisfying the customer's needs and wants providing them with product or service that they will use,
WHILE KEEPING THE ENVIRONMENT GREEN, CLEAN, AND SAFE.
(Marketing orientation + attention to environmental situations/
Sustainability
) ex. Tom's shoes.
Societal orientation
the whole revolution of Water thing, and McD's selling "cage free" eggs pertain to ____ _____.
Societal Orientation
the 3 Marketing Concepts:
1. Customer Value +
2. Customer Satisfaction =>
3. Develop Long Term Relationships
Value =
#NAME?
Lies at the foot of what marketing is all about.
Customer Satisfaction
Customers switch because of ____ ____ more than anything else. (this goes with C.Satisfaction)
Customer service.
___% of customers who have a bad experience will tell at least ONE person and embellish the story to make it sound more sensational.
77%
___% of people will change a purchase decision/go somewhere else just based on the indifference/ex. rudeness of one person.
63%
Only __% of people who have a bad experience will tell the actual service provider.
7%
the 2 types of disgruntled customers:
1. ____ one (yells)
2. ____ ___ customer (leave & blog)
1. Openly Angry
2. Remorseful/Silent Angry
When you don't get good service: __. Have to have a recovery system in place (failure and recovery).
Service Failure
good
Employee
satisfaction leads to good ____ ____
customer satisfaction
The first part of the Profit Chain is service, starting with good ____ satisfaction.
EMPLOYEE
Profit Chain: Employee ___ leads to good Customer Service, creates customer ___, then if you can create customer ___ then you are able to create customer ___. its a cycle.
Employee Satisfaction -->Service --> Value --> Customer Satisfaction --> Loyalty = Profits
Delta Airlines spent $1 billion to train their employees in better ___ ____.
customer Service
What did you learn from "United breaks guitars"?
- Customer service is important
- Social Media has huge impacts
Who monitored social media to find out what customers See, Hear, and Say? ex. looked at tweets and posts for complaints and then addressed customers immediately to recover greatly. Some fail on purpose to make a mark from their correction procedures.
Citi Bank
one way of researching. these people pose as a customer, use their services and evaluate everything you do in order to see what the competition does to spark new, innovative ideas. Point is to try to find a source of __ __.
Mystery Shoppers.
- Prospect Theory
Learning to develop and maintain long term relationships leads to __ __. Ex. giving christmas presents.
brand loyalty
Good customer Satisfaction yields the following:
1. ability to _________________.
2. ____
3. ____
4. You sell more!
1. Charge Premium prices
2. Less selling effort
3. Referrals
What you do to make sure you can keep things moving in a nice direction, recycling, and being good to environment. ex. Patagonia -tires
Sustainability
Primary reasons customers switch:
1.
2. _____ ___ ___ (lack of knowledge;people dealt w/no good,links *2nd primary concern of marketing)
3.
4. ___ (
NOT
'location')
5.
6. Failure to respond to failure
7. ______ behavior
1. Core service failure
2. Service Encounter* Failure
3. Price
4. Inconvenience (not rly "location")
5. Attraction from competition
6. Failure to respond to failure
7. Unethical behavior
A huge part of 3rd Marketing concept (Developing long term relationships) = _______
Appreciation!
Stronger relations when you keep overcoming failure.
3 parts of developing long term relationships:
1. Customer Relations
2. Media Relationships
3. Community Relations
Tyrann Mathieu: "What questions are they going to ask me?" in NYC photo shoot:
The worst ones. Media will trick you. Want them to write good stories about our brand, thats why we give free seats in stadium.
2 most important Types of relationships to develop:
1. Media
2. Community
An example of Community Relationships: Yoplait breast cancer awareness lids. This represents a ____ ___ ___.
Cause Related Market.
What role did John Hancock Insurance co. play in giving back to the COMMUNITY by saving the Boston Marathon?
Gave their money, resources, etc. and said they would put little tags on shoes or shirts and take pictures at the finish line.
The 3 Levels of the Marketing Strategy Framework:
1. Market Analysis
2. Strategy Development
3. Implementation
4 Components of Market Analysis (The 4 C's):
Company
Competition
Customer
Conditions
Pertaining to "Competition" of the Market Analysis: Who is Nike's biggest competitor today? What is the new population they are targeting?
Sketcher's.
"Athleizure
Customer analysis focuses on _____.
Demographics
Demographics (customer) include:
1. __ (Nurse homes vs. "asst. living")
2. __ *Uggs for men
3. ___ Bilingual products @ H Depot
4. __ can tell by dress/WSJ ads.
5. ___ 6. ___ identify, do not offend!*most dangerous!
7. __NSWE,Politics&MachineofMktg
1. Age
2. Gender
3. Race
4. Income
5. Education
6. Religion
7. Geographical
looking at the Conditions in a market analysis includes 3 factors and means analyzing the "_____ _____" and everything that changes in it.
External Environment
3 factors of Conditions analysis:
Social Factors,
Technology Factors,
Legal & Political factors
Social factors value ____
Lifestyles
*** (Social): 3 factors that affect Lifestyles
1. Activities
2. Interests
3. Opinions
* key Technology in transportation: ____. This is __ to customers. People willing to pay extra to know.
Tracking. VALUABLE
Examples are UPS-stamps idea, FedEx Air, SPEED SPEED SPEED, ability to create machines and be more productive and efficient.
Technology factors (Conditional analysis)
Who tried manipulating people saying they were making green cars when really weren't?
(hence Honesty and Trust issues)
Volkswagon CEO
2nd Level of Marketing Strategy Framework
Strategy Development
3 Components of Strategy Development:
1. Segmentation
2. Targeting
3. Positioning
4 Criteria of Segmentation:
- know characteristics of pop.
- Can you Communicate and Distribute to them?
- can they respond to their need or want to purchase it?
- is the population big enough? (LSU to target hispanics too small, but Houston would do)
- Identification
- Accessibility
- Responsive
- Substantial
(IARS)
3 Strategies in Targeting the market:
1. __ (Undifferentiated, Water, BC)
2. __ (various targets, Walmart)
3. __ (one specialty, and do it well)
1. Mass marketing
2. Multi-Segmented
3. Niche
3 unique populations at Wal-Mart:
(a Multi-Segmented targeter)
- Low incomes living day to day
- People who like name brands
- Rich people wanting household goods
3rd component of Strategy Development:
(1. Segmenting 2. Targeting 3. ____)
Positioning your product
Tom Baudette was a carpenter, and almost richest man, Introduced new Econolodge cheap stays segment of Motel 6 and sold a bunch to rebrand so didn't seem so cheap. Put together ____ ___.
Focus groups
Terms to know about Motel 6 on Test: (3)
Rebranded, Affiliation, Personality
(Motel 6)
____: positioned where travelers making a living could stay, appealed to the frugal travelers (wanted to spend their $ on something else).
Rebranded
(Motel 6)
____: wanted customers to see that nice people also stay there.
Affiliation
(Motel 6)
_____: like insurance co.'s (Flo, Aflac)
- Went and found Tom Baudette for this in Alaska, all they used was his voice but successful.
Personality
(Tom B was their personality)
IF ANY ANSWER ON THE TEST IS "IT DEPENDS" the answer will be:
IT DEPENDS!
3rd level of Marketing Strategy Framework: (deals with the Marketing Mix - 4 P's)
Implementation
4 P's of Implementation's Marketing Mix:
Product
Price
Placement
Promotions
______ of the 4 P's looks at the categories of the product because there is a different strategy for each category
Product
Categories of Product:
1. Convenience*
2. Shopping
3. Specialty
4. Unsought
Products of ________:
- Inexpensive
- Minimal risk
- Basic needs
Convenience
Shopping products that are a bit more expensive than convenient require more time and _____*
Involvement
____ products have both a Higher price, and Higher Risk and lots of time and involvement. Ex. Jewelry store. should be easy to find.
Specialty products
____ products like health and life insurance that you didn't know you had to have until you had to get it. should also be easy to find.
Unsought
4 components of Product:
1. Packaging
2. Warranty
3. Service after sale
4. Brand
Purposes of Product PACKAGING
1. _ (against theft) 2. Facilitate ____. 3. __ tells ingredients/info/persuad
4. ____ powerade blue vs. gator orange 5. ____ red bull 6. ___ selling mints altoids can 7. ___ relate 82% to partic. time 8. _ (clicks lipstick)
1. Pertain/Protect
2. Recycling 3. Labeling
4. Color
5. Shape(RedBull/coke)
6. Size
7. Smell
8. Sound
2 Labeling Purposes:
Informational and Persuasive
______ Labeling components:
- Instructions
- Construction
- Communicate to consumer
- Nutrition*
- *Reduce Cognitive Dissonance
Informational
*Nutrition - Campbells is losing to Progresso soups bc they took out sodium and labeled it with emphasis
self doubt you have following a purchase
Cognitive dissonance
(Persuasive type Labeling technique) What magic word do we love when we buy something?
MADE IN USA
serves as a source identifier
Color
Article about _____ talks about segmentation, target market, demographics, lifestyles, etc. READ
Cigarettes
____ warranties. can help you differentiate yourself from competition. auto, laptops
written
How do you take the K-car (cheap, will get you to work and back reliable everyday for the blue - collar worker)? (a SEGMENT of ppl who just need that simple a-b car)
a Warranty!!
ex. 100k miles or 10 yrs all while offering bumper to bumper protection.
Brand: overall shop difference between the two stores (Walmart and Target?) was ____%
1-2% difference
**preserving the brand example: ___ ___: cheap, sold tons, discontinued wasn't good for Elite brand that should stay special.
Tiffany's bracelet
Identification
Repeated sales, then
Introduce new products
Objective of Branding
____ Identifying: stir emotions in sports and business. ___ Identification ex: McD's Taco Bell bell, SportsCenter
Color,
Audio
whenever the name of the product is the category by which the product is in. ex. Kleenex, Q-Tips, ET and M&Ms examples
Master brand
Product LifeCycle, The 5 phases:
5 is optional depending on outcome of 4th phase (could become obsolete or flourish)
1. Introduction
2. Growth
3. Maturity
4. Decline
5. Extension (optional)
Marketing Mix =
Product + Price + Place + Promotion
What two parts of the marketing mix are used throughout all the decision making of the product lifecycle?
Price and Promotion
3 Pricing Strategies:
1. Skimming
2. Penetration
3. Status quo
Pricing strategy where you price it as low as you can in order to get consumers to use and try it and hopefully like it.
Penetration
pricing Strategy involving Price Matching the competition. You find out what the market will bear and you just equal that market price. Hope that it doesn't negatively affect.
Status quo pricing
pricing Strategy where you start out pricing as high as you can for as long as possible before competition catches up. Ex. Audi, BMW
Skimming
dollar store pricing/dollar menu, (specific area of store with one price only)
Single pricing tactic
lawyers and dentists' pricing tactic
Professional
Odd/Even aka "_________" pricing tactic. Odd numbers note a _____.
Psychological" (odd/even)
- odd = bargain. $499.99, $900, $100
- Expensive restaurants use single digits $8, $9, $10 to make look fancy but bargain.
In negotiation, use _____ numbers. It indicates you put more thought into the worth of your product. This is the Precise/Rounding price tactic.
Precise.
Pricing Tactic: When regular companies like Coke price their name brand lower than you've seen it, but then they surround you with other items - chips/dip/whiskey that they'll make their money on.
Loss Leader
Rebates were coined in _____.
1974
Airline tickets are an example of _____ pricing. Best day of the week to buy a ticket is Tuesday.
Flexible
pricing that is effective if one key premium product is in the mix. ex. telephones, computers.
Bundling
if it depends, then
IT DEPENDS!
What was wrong with Karam's convenience store idea?
Place.
The location should've been on the opposite corner where everyone goes out and all the traffic is moving, people can get weekend beer etc. Not at pile up spot.
the way we communicate with the customer. (4th part of marketing mix)
Promotion
4 parts of the Promotional Mix:
- Advertising
- Public Relations
- Sales Promotions
- Personal Selling
2 types of most effective advertising:
1. Product advertising
2. Institutional (Apple, enhancing the brand as whole)
promotion by maintaining or acquiring a
positive image
on company brand, or changing a negative image. ex. LSU S.Car. game
Public Relations promotions
*
Dealing with integrity with a variety of mediums to create positivity.
*
Public Relations promotions
any way of promoting that gets them into your store. Contests, discounts, etc.
Sales Promotions
type of promotion where the person/individual goes out and does the work their self.
it depends
Personal Selling
5 Steps of Consumer Decision Making Process:
1. Need Recognition
2. Information Search
3. Evaluate Alternatives
4. Purchase
5. Post-Purchase Behaviors.
finding an unfulfilled need and grabbing customers attention deals with
Need recognition
the more convenient information search is = __ __
less risk
3 Types of External Information (ways we get our info):
1. Family/Friends
2. Commercial
3. Public
92% of consumers get info from ____. The MOST TRUSTED info source. (Opinion leaders, Celebrities, and Word of Mouth)
Friends.
Friend info: Opinion Leaders are NOT ____.
Celebrities.
Why do we use Celebrities?
1. Drive sales
2. Change perception of product.
Word of Mouth is also known as "_____". People talk. Frozen movie, everyone talked about it.
Sneezing
this info spreading technique puts product in hands of opinion leaders for free "hoping" that they'll spread a good word of mouth. Ethical and Non-Ethical way. Cant tell them to.
Buzz-Marketing
BIASED information from major media. Billboards, internet, tv, radio.
Commercial
More money is spent on ___ __ Commercial informing techniques than any other.
LARGE POPULATION and is
Pinpoint specific.
Direct mail
the Unbiased, neutral, consumer report sources we use for information. KBB, JP Power&Assoc.
Public
The Public info involves:
a. ____ (lots of choices)
b. _ (pull your product out amongst others*Volvo)
c. __ __ (final list of considerations)
a. Clutter
b. Unique Selling proposition
c. Evoked Set
*Toothpaste industry with whitening in our industry, resonated throughout. and Volvo Sleek and sales went down.
Unique selling proposition
looks at and bases on the benefits, price, quality, atmosphere, part of the country. Dept. at a certain university.
3. Evaluating the Alternatives
(Step 3 - Consumer Making Process)
Actual action step: signing for the contract, 4th/critical part of the consumer dec. making process.
4. Purchase.
these are from both Consumers AND Business's interests. Look at your purchase and analyze.
Post-Purchase Behaviors
the self doubt you have after a purchase
Cognitive dissonance
How do you alleviate cognitive dissonance?
1.
2.
3.
1. Seek approval from friend.
2. Search for that one benefit that validates your decision.
3. Always FOLLOW UP (for businesses, especially w/big purch.)
Implied and Written
2 types of the Warranty component of a product:
3 Branding strategies that Motel 6 used?
- Positioning
- Affiliation
- Personality
___% of millionaires are involved in volunteer/community events
74%
the way a company communicates with a customer
Promotions
Purpose of promotions:
-
-
-
- Inform
- Persuade
- Remind
rebate" since ____
1974
key factors to help enhance celebrity endorsements:
- Familiar to public
- High esteem w/public
- Proper fit
when is the TV network's peak ad sales season?
spring
What is TV's new approach using?
analytical data of heavy buyers of specific products and shopping habits. ex. burger lovers, yogurt buyers, movie tickets and car buying
online/digital has a lack of __
viewability
TV's chief advantage over the web:
ability to reach huge audiences
During airings of Family Guy ads were viewed ____ million times
709.7
Talk shows are radio's second most popular format, while _____ ___ is the 1st most popular
country music
radio talk shows still bring in numbers, big numbers, liberals and social media campaigns just scare adders away bc they don't want to take the risk of being associated with:
strong personalities like Limbaugh's, religion and politically charged, sensitive topics that may offend people so much that they talk bad about the station online, thus reducing the amount of listeners
A&E's #1 show was ____ ____, while Longmire was #2.
Duck Dynasty
Longmire was about a Wyoming ____
Sherriff
what problem did the Longmire show have?
whats this "cancelled you fav tv show" article about?
had the wrong audience and wrong owner,
- targeting the right audience; or
- Demographics
what are the two things TV wants that are part of the growing trends in the TV industry. they wanna sell to 18-49 and 25-54,
- Younger viewers and Ownership of the show, rather than having to pay outsiders and pay it off through ads
The median age of the entire network A&E is 48.
what was the median age of Longmire's viewers? (TOO OLD)
60
Museums use ____ as their crucial source of funding their exhibits, they make them more interactive but also more branded.
sponsorships
The best option is to have kids actually engaging as much as possible and actually playing with the brand, and having signs without logos, one grocery store used the same shade of red color that HEB uses in stores as a source identifier. Children gain ___
familiarity
In Boston, the ___ ___ puzzle was the most popular, and at another ___ ___ ___ were one of the most popular.
New Balance puzzle,
Krispy Kreme doughnuts
average NFL telecast devotes ___% more time to replays than the 11 minutes of action
56%
___% airtime is spent on players Between Snaps in the huddle and standing at L.O.S.
60% total field air time is between snaps
Just __% goes to coaches and referees
7% coaches & refs
injured players got ___ more seconds camera time than celebrating players
6 seconds
typical play only lasts ___ seconds
4 seconds
ratio of inaction to action in NFL is __ to __
10 to 1
the mortal sin of football:
missing a snap
at 24 minutes worth of replays, ESPN showed ______% more replays than average networks.
41%