Summary
Summary Content Marketing
- Course
- Institution
class content marketing + some notes KUL Campus Brussels - Bridging year
[Show more]
Seller
Follow
boc1
Content preview
MARKETINGTABLE OF CONTENTS
Session 1 – Intro + Market Analysis .................................................................................................................. 3
Course overview ........................................................................................................................................... 3
What is marketing? (sl22) ............................................................................................................................. 3
I. Market analysis ......................................................................................................................................... 5
I.I. Micro environment .................................................................................................................................. 5
I.II. Meso environment .................................................................................................................................. 6
I.III. Macro environment ................................................................................................................................ 7
Session 2 – Market Strategy Implementation ................................................................................................... 8
I. Recap of Market analysis ........................................................................................................................... 8
II. Strategy formulation / Market strategy (sl9) ............................................................................................ 8
III. Tactical decisions ................................................................................................................................... 11
III.I. Marketing mix ........................................................................................................................................ 11
IV. Marketing control ................................................................................................................................. 15
IV.I. Marketing metrics ................................................................................................................................. 15
Session 3 – BAV guest lecture (add here) ....................................................................................................... 16
V. Branding ................................................................................................................................................. 16
Session 4 – From GDL to SDL .......................................................................................................................... 25
I. Differences between goods and service marketing (From G-DL to S-DL) ................................................. 25
I.I. Service ...................................................................................................................................................... 25
I.II. Why service marketing? .......................................................................................................................... 26
I.III. Toward a new marketing logic ............................................................................................................... 28
Session 6: The service encounter.................................................................................................................... 35
II. Service encounters & Service quality ...................................................................................................... 35
II.I. The role of customers in service encounters........................................................................................ 37
II.II. The role of employees in service encounters ........................................................................................ 40
II.III. The role of technology in service encounters ....................................................................................... 45
Session 7 – Service Quality and Service Failure .............................................................................................. 48
II.IV. Service quality ....................................................................................................................................... 48
II.V. Standardization of service delivery processes ....................................................................................... 54
III. Service failures & recovery .................................................................................................................. 58
Session 8 - Digital marketing ......................................................................................................................... 71
I.I. General digital marketing ......................................................................................................................... 72
I.II. eWOM ..................................................................................................................................................... 75
1
, I.III. Social media ........................................................................................................................................... 77
I.IV. Mobile marketing ................................................................................................................................... 81
Session 9 – Robots, AI and Blockchain in Marketing ....................................................................................... 84
II. The role of Artificial Intelligence & robotics in marketing ....................................................................... 84
II.I What is it? ................................................................................................................................................ 84
II.II. Applications in business ......................................................................................................................... 88
II.III. Concerns ................................................................................................................................................ 90
III. Platforms as online markets .................................................................................................................. 92
III.I Platforms as online markets .................................................................................................................... 92
III.II. Sharing economy ................................................................................................................................... 97
Guest lecture – Socially responsible marketing (Tine De Bock) ..................................................................... 105
I. Marketing .............................................................................................................................................. 105
II. Social responsibility .............................................................................................................................. 106
III. Socially responsible marketing ( more than sustainable marketing ) ................................................... 106
Exam information – Marketing..................................................................................................................... 107
2
,SESSION 1 – INTRO + MARKET ANALYSIS
COURSE OVERVIEW
WHAT IS MARKETING? (SL22)
➢ Marketing is the activity, set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners, and society at large
(American marketing association, 2013)
➢ The achievement of corporate goals through meeting and exceeding customer needs better than the
competition (foundations of marketing, Fahy & Jobber, 2019)
➢ The process by which companies create value for customers and build strong customer relationships in
order to capture value from customers in return (Kotler, 2017)
➢ The aim of marketing is to make selling unnecessary (Drucker, 2009)
• Create & Capture value Building relationships
• Corporate goals = Value? (not always profit, can also be information ect.)
• Customer needs
• Avoid selling
• Activity & Processes
Key take-away
- No one definition!
- Building a relationship between organization and customer
- From creating and accommodating value to co-creating value
- 𝑐𝑢𝑠𝑡𝑜𝑚𝑒𝑟 𝑝𝑒𝑟𝑐𝑒𝑖𝑣𝑒𝑑 𝑣𝑎𝑙𝑢𝑒 = 𝑃𝑒𝑟𝑐𝑒𝑖𝑣𝑒𝑑 𝑏𝑒𝑛𝑒𝑓𝑖𝑡𝑠
P𝑒𝑟𝑐𝑒𝑖𝑣𝑒𝑑 𝑠𝑎𝑐𝑟𝑖𝑓𝑖𝑐𝑒
- Listen (also context!) -> be meaningful -> care for customers
- Marketing is not only promotion – it is the whole journey!
What can you market?
3
, - Products
- Retailers
- Services
- People
- Sport and entertainment
Translating the idea to reality
- How to build and co-create this value?
- What to take into account, how to listen to the customer and their context?
- When do you know it is successful?
- How to plan this as a future chief marketing officer?
➔International Marketing Plan
4
, MODULE 1: TRADITIONAL MARKETING
I. MARKET ANALYSIS
Market analysis = micro environment + meso environment + macro environment
I.I. MICRO ENVIRONMENT
- The internal analysis – dynamics and processes that take place within the organization itself.
Evaluation of the current marketing process.
- Analysis of the organization’s potential to go international
→Identifying potential barriers and stimuli
- Evaluation of your own organization
o Current strategy
o How are we utilizing our marketing mix
o Who are our stakeholders
o How is our organizational structure and is it still efficient?
o Who are we targeting and how?
5
, I.II. MESO ENVIRONMENT
= The industry, environment and markets in which a company operates.
Who is your customer?
- We used to see customers as one, market to the masses.
- Nowadays, we want to target specific groups based on specific characteristics
Example: horses -> old fashioned cars -> high technological cars
Customers – questions to ask.
- Where do they live
- How does their family look like
- Level of education
- Income levels
- Consumption patterns
- Big Five Personality Traits
- Cultural values of Hofstede
Customers - how to get this information?
- Surveys
- Client cards
- Focus groups
- Data and spyware => Hyper-personalization?
Customers – developing personas
- Resumé
Customers – questions to ask
- Where do they live
- How does their family look like
- Level of education
- Income levels
- Consumption patterns.
- Big Five Personality Traits.
- Cultural values of Hofstede.
Competitors
- Who are my competitors?
- What is their mission/vision?
- How do they communicate?
6
, - How will they react?
- What are their strengths and weaknesses?
- How Big of a competitor are they? How can they pose a threat?
- Porters’ Five Forces Model
I.III. MACRO ENVIRONMENT
= The larger societal forces that affect the micro and meso environment
DESTEP / PESTLE
= Helps us to identify macro developments in various domains
- Demographic
- Economic
- Social (socio-cultural)
- Technological
- Ecological
- Political
Recap of Market analysis
- Marketing is more than just promotion
- Build a relationship with your audience
- There is no one-size-fits all anymore.
- Understanding customer, competition and context is essential!
- International Marketing Plan as guiding tool
7
,SESSION 2 – MARKET STRATEGY IMPLEMENTATION
I. RECAP OF MARKET ANA LYSIS
- Micro analysis
o Internal analysis!
o Analysing current processes within the organization and re-evaluating the current marketing
processes
o Is there a possibility to expand (inter)nationally?
- Meso Analysis
- Macro analysis
o Influential factors on a societal level – affecting all actors
o DESTEP method
II. STRATEGY FORMULATION / MARKET STRATEGY (SL9)
STP-process → Segmentation Targeting Positioning
- Incorporating all the acquired knowledge to build a strategy towards your intended audience and
potential audience.
- Which customers will be serve and how will we create value for them – also, how are we going to be
different from the competitors (MESO)
SEGMENTATION
= Dividing the mass market into smaller parts with distinguished characteristics, needs or behaviours that might
require separate marketing strategies or mixes
- Geographic: Where do people live
- Demographic: Structure of population
- Behavioural
- Psychological/Psychographic
→Elements that we analysed in the MESO analysis!
8
, What to look for and how to make it effective? MASDA-principle
- Measurable
- Accessible
o Reach and serve your segment effectively? Evolving! Before: Bill board and spam mails.
Now: television, social media and cookies.
o
o Target = Supermarket: To track her purchases by her loyalty card, so Target segmented
her client. Target knew that the girl was pregnant, because of her purchase behaviour
before the girl knew
- Substantial
o Make sure it is large enough or profitable enough to serve: Is it profitable to invest your
money in specific groups. You can enlarge your target group if it is too specific
- Differentiable
o Between your segment, to personalise
- Actionable
o To what extend is it actionable. While you can have 6 segments that you want to focus on, if
you only have 2 people as marketing staff – you are strongly hindered: Is it worth to create
many segments.
Segmentation – CASE
>>>
How to segment your market in an ethical way? Using Facebook to get information, e.g. you are getting divorced,
if you are voting. How didn’t vote yet? So you can focus on those people, to create questionnaires such as in which
Hogwarts house do you belong? Then you know what kind of people they are and how to convice them to vote, to
purchase goods…
Facebook banned those personality questions
TARGETING
- Based on your segmentation you now determine the segment(s) that you want to target.
- Evaluating each market segment’s attractiveness and selecting one or more market segments to enter
- Target market – a set of buyers sharing common needs or characteristics that the company decides to
serve.
9
, Targeting – case
Whole Foods Market focuses on people with:
- Healthy lifestyle, above-average income, concerned about the environment.
- Families, college degrees – upscale sub-urban areas and large cities.
- Upcoming: young graduates with high education (millennials with money)
POSITIONING
= Arranging for a product occupy a clear, distinctive and desirable place relative to competing products in the
minds of target consumers.
Positioning built on meaningful differentiation, supported by appropriate strategy and implementation, can
help a company build competitive advantage (Kotler, 2018).
E.g.; AirBnb, they don’t market themselves. Exclusive experience, local…
E.g.; Tesla, exclusive car. High end card
POSITIONING AND DIFFERENTIATION
- Branding!
- Standardization OR adaptation of the marketing strategy?
o One size (does not) fits all
o E.g. KFC in China, they serve rice and not fries. So KFC adapts on the market
A. Standardization?
o Economies of scale: Producing as much as you can with low costs
o Global competition: Everyone around the world has the same product, not looking at the
different demographic etc.
o Competitors’ use of standardized concepts
o Converging consumer needs and tastes
o Small cultural differences
o Centralized management of international operations
Standardize your product or standardize your message?
B. Adaptation?
o Large differences in government and regulatory influences
o Local competition
o Competitors’ use of adapted concept
o Diverging consumer needs and tastes
o Large cultural differences
o Decentralized management
+ Read article: The “first principles” of marketing strategy
10
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through EFT, credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying this summary from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller boc1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy this summary for R204,94. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75323 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy summaries for 14 years now