Unit 2 Revision (Marketing Mix (Product: Quality, Image, Branding,…
Unit 2 Revision
Product: Quality, Image, Branding, Features, Variants, Mix, Support, Customer Service, Use Occasion, Availability, Warrenties
Promotion: Marketing Communications, Personal Promotion, Sales Promotion, PR, Branding, Direct Marketing
Price: Positioning, List, Discounts, Credit, Payment methods, Free or Value Added Elements
Place: Trade Channels, Sales Support, Channel number, segmented channels
People: Individuals on marketing activates, customer contact. Recruitment, Culture/image, Training and skills, remuneration.
Process: Customer Focus, Business-led, IT Supported, Design features, research and development
Physical Evidence: Sales/staff contact and experience of brand, Product Packaging, Online Experience
Basic Marketing Principles: Product, Place, Price, Promotion, People, Process, Physical Evidence / Packaging, Partnerships, Proximity / Accessibility.
Product: Type of product – service, mix or physical item
Is it targeting a gap in the market now?
Is your product or service superior to your competitors?
Is it right for the market?
Place: Where is product or service going to be sold?
Is this the best place? (e.g. Snow Chains in a warmer climate or Alcohol is Asia)
Where are you selling? Online, retail, your own stores, trade?
Does it require an expert to sell?
Promotion: How do you tell your customers about your product or service?
Do you advertise? If so, how?
What sort of headlines or tag lines do you use?
Packaging: What does the packaging look like?
Is it practical and stylish?
Consider a Nike shoe box or an Apple device box over a Clarkes shoe box or a Lenovo PC box
The packaging is the first thing people see when they pickup your product
Proximity: How are you ranked against your rivals?
Where are you found in the store or on the website?
Customers usually identify your brand with a term or phrase. E.g. ‘John Lewis have great service’
People: Who is selling or promoting your product?
What do they ‘look’ like?
What impression do they give off?
Price: How is your product or service priced?
Is it competitive and appropriate for your market place?
Do you include something in addition to the product? A free ‘ad-in’ for example?
E.g. Apple Student offer includes Beats headphones
Digital Marketing Strategy
Name the most popular music service
Name the most popular online Video service
Does Spotify offer streaming video?
Your marketing strategy must define key dependencies
Ability to deflect and budget for variation in financial situation
An example: Budget to spend on paid search
Producing a strategy
Build buyer persona
Identify end goal
Evaluate existing channels / content
Plan your own media
Identify gaps in existing market
Create a content creation plan and schedule
Bring it all together, create and publish
When communicating with a new client you will develop a brief
This brief should be finalised prior to product development
Only then can you go into production and manage expectations of the finished product
A client is likely to want ‘everything’ for ‘nothing’ and immediately
i.e. A fully functional e-commerce site with unlimited products, great images and 24/7 support and millions of customers
Customer Relationship Management (CRM) is a strategy for managing all your company's relationships and interactions with your customers and potential customers.
Sales Force have published figures that estimate:
Sales by up to 37%
Sales Productivity by up to 44%
Forecast accuracy by 48%
Benefits of CRM
Access to up to date stats relating to your customers
Can quickly see their spend, status and current / future issues
Embed social media activity – Likes, ratings, clicks etc…
Links between public platforms and private services (Start a conversion on a social network and pick it up on the phone later)
Focus on inputting data / managing data on CRM, not actual customers
Lots of data, little intelligence unless analysed appropriately
Only some platforms allow linking between online platforms and regular platforms (letters and phone calls)
Customer Life Cycle
Customer Life Cycle
The journey a customer takes as they research, try, purchase, maintain and review your products / services
The Sales Journey
The main stages of the customer journey are:
Existing customers are defined as:
A customer who has purchased or used an organisation’s product or service.
Customer Life Time Value
The estimated value (profit) of a customer for the length of their entire future relationship with the company
Can be worked out as:
value per month x contract period x number of years
Roles within a digital marketing team: VP of Marketing
Pay per click specialist
CRO focused designs (conversion rate optimisation)
How can you influence the team when working on a campaign?
Leading those above
Leading those on a parallel
Leading those below
Working Independently: Focus on your own work
Restricts number of resources / ideas you can share
Duplicate work may be completed – lack of communication
Building a cohesive team:Know what you want to work on together
Have the same end goal
Give feedback & ask for feedback
Celebrate success together
Real Time Data: Information that is delivered immediately – for example Google Analytics ‘Real Time’ view
Increase in website traffic: Scenario:
A user has typed "How often should I shave?" Into Google
Several articles and forum posts appear
One of them is written and hosted by Dollar Shave Club
The post is loaded and brings a known shaver to the site
The article later suggests a sharp razor is better for you skin...why not try ours?
The user starts a free / cheap trial and remains a subscriber
From one blog post appearing in a search the company now has a new subscriber worth $100s
CTR is the number of clicks that your ad receives divided by the number of times your ad is shown: clicks ÷ impressions = CTR. For example, if you had 5 clicks and 1000 impressions, then your CTR would be 0.5%.
CTR allows you to accurately see how much interaction your link / email is getting
Click through rates are usually measured using customer URLs or Tracking URLs
For example – www.wonga.com/TV10