HAHAHA
1.ENGLISH FOR MARKETING AND ADVERTISING
INNOVATION
Innovation means a new way of doing something. It implies changes in thinking products, organization or processes. It’s considerate a major driver business. Innovation is linked to competitive positioning (differentiating your offer and create value for your costumers). However, there are risks and costs involved.
INTRODUCING NEW PRODUCTS
Usually products fail because companies are often enamored of their new product that they fail to do their research or they ignore what the research tells them. Sometimes the pricing or the distribution channels are wrong. Some times the advertising doesn’t communicate in a good way to seduce the costumers to buy the new product.
MARKETING AND ADVERTISING ACTIVITIES
We find two major tasks: the ones done in a company (showing visitors around the company, offering giveaways, presenting at a trade affair…) and the ones that are outsourced (drawing up marketing plans, creating advertisements…)
MARKET RESEARCH
Market research is any organized effort to gather information about markets or costumers using statistics and analytical methods and techniques of applied social sciences to gain insight or support decision making. It’s very important component of business strategy and it provides information to identify the market needs, the size and the competition. It’s the best way to know what people want, need and believe.
1. Qualitative market research is opinion-based and it can be used to uncover what people think about your product and identifying trends. Some methods are:
-Open-ended interviews: Questions that cannot be answered with a simple yes or no. This interview gives a lot of info but it takes a long time to answer it.
-Focus group they are lead by professional and formed by groups from 6 to 12 people that discuss some questions from specific to general aspects. Usually, focus groups sessions last for at least an hour. Since they ‘ve lead by a professional it is a very expensive form of market research.
2. Quantitative market research involves statistical analysis and mathematics. It should be used whenever you need to identify a numerical output and it could be appropriate to calculate market sizes.
-Surveys take longer to develop but are generally, easier to administrate than other types of market research
COLLECTING EXISTING DATA
–Sales and purchasing statistics (by studying your sales records)
–Geographical statistics
–Panel surveys: A longitudinal study in which variables are measured on the same unites over time
COLLECTING NEW DATA
Street interviews, postal survey by mail, email surveys, telephone surveys, feedback forms (forms to know about your company performance) , social events, trade journals
ANALYSING THE ENVIRONMENT
The environment can be divided in legal, technological, social and economic environment.
ANALYSING THE COMPETITION
Steps to follow: 1-Positioning of the competition 2- the costumer profile, prices, supplies
ANALYSING THE COSTUMER
Who buys, what is attractive of your product for the client, Where, when, how do they buy an what’s our client behavior.
KEY CONCEPTS
Strategic alignment- To be strategically aligned is when a company fits its internal strategies with the external market conditions , which may be extreme by difficult we have found that 91% of companies are unaligned so they soffer from “trashing” (lots of work with little productivity gains).
Strategy– The allocation of people time and money
Phases of market research
1-Market segmentation: divide the whole target market in subsets of buyers who share common needs
2-Account segmentation: who will offer the highest revenue in the shortest period of time.
3-Buyer segmentation: understand how group buyers make purchase decisions
4-User segmentation:Understand the market to offer the best answer
Blackberry is the best example because in a short period of time
smartphones appeared and they didn’t remove the keyboard
THE MARKETING PLAN
Marketing are all the activities a company does to satisfy the consumers needs in order to get a profit. It is a critical business process that is responsible for attracting , retaining and growing costumers. Goods and high-quality products are not sold if there is not a good marketing plan behind the scenes which make the product known and deservable . To make a product successful quality is not enough, we also need to know for example when and where the costumers need it.
Drawing up marketing plan
-SWOT analysis –Fixing objectives and sales projections –Selecting strategies (focused on the marketing mix) –Budget – Follow up
SWOT: A structured planning method used to evaluate the strengths, weaknesses, opportunities and threats involved in a project or in a business venture. It involves specifying the objective of the business venture or project and identifying the internal and external factors that are favorable and unfavorable to achieving the objective
MARKETING MIX
1.Product- We have to know the features that maje the product different and better from the others. There are different products like consumer, industrial goods and services. The product portfolios is composed by all the products a company commercializes.
2.Pricing model- We can find different pricing models.Captive product pricing, economy product pricing (cheap as possible), geographical pricing (according to the area that are sold) , penetration pricing freemium (pricing goods at a very low price to encourage people to buy them) , premium pricing (keeping price artificially high to encourage favorable perceptions among buyers)
3.Place- Kind of stores where the product will be commercialized. Some stores are: outlets, franchises, high-street shops, chain stores, hypermarkets, mail-order amd convenience stores. Distribution– the channels of distribution are broadly divided into three types: producer-customer, producer-retailer-customer, product-wholesaler-retailer
4.Promotion- The way you reach costumers by means of three kind of agencies: PR agencies, creative agencies and media agencies.
A PR agency sets the brand name of the product , promotes the brand positioning , drives the press release, creates a webpage, the slogan, the logo, the giveaway and the socializing acts.
The brand name is the name that identifies the product or the company. There are different brand strategies:
-Corporate brand strategy: using an only mane for all its products
-Unique brand strategy: giving an specific brand for each product
-Private brand strategy: a large distribution buys from a manufacturer in a bulk and put its own name
The slogan is a memorable phrase used in a commercial context as a repetitive expression of an idea or purpose. Slogans are often used in conjuction with company logos in advertising campaigns. Some tips for a good slogan are:
-make it memorable –keep it simple –be honest –key benefits –rhythm and rhyme
The logo is a symbolic mark that conveys origin, identity or ownership. The main function is to be recognized everywhere. A thought provoking logo design gives you psychological advantage over your competition. There are three basic types of logos:
-Iconic/symbolic- icons are uncomplicated images that are emblematic of a company
-Logotype/word mark- it incorporates your brand name into a uniquely styled type font treatment.
-Letter form- you use the main letters of your company
-Combination marks: you combinate and image with the name of the business
You can organize social events social events for clients and business partners and assist to trade fairs to search new clients and meet business partners.
The creative agency has to design the ads thinking if they will be shown in traditional media or new media. To create an ad you have to come up with a catchy slogan, find good marketing techniques and know your costumer.
When creating an ad, you have to follow the AIDA model which consist in:
-Catch the audiences ATTENTION
-Make the audience INTERESTED
-Create DESIRE
-State the ACTION
Advertisements should be in some way sad, surprising, impressive, funny, short, catchy, slogan…
The media agency decides where to show the ads