BUS502: Strategic Marketing

Read this chapter, which introduces key concepts for the course. The chapter includes a definition of a marketing plan, the steps in the marketing process model based on the work of marketing expert Philip Kotler, and an outline of a comprehensive marketing plan. The marketing mix (product, price, place, and promotion or the 4 Ps), marketing research, and marketing strategies are discussed. As you read the chapter, think about the importance of a marketing plan for an organization and the significant planning process. You will learn more about the marketing planning process during the course.

Read this section to understand the development of the marketing strategy with a focus on the 4 Ps, where the identified target market is an influential factor. The chart on the last page of this section summarizes the marketing planning process with recognition of the connections between the corporate mission, corporate strategy, and marketing strategy. You may want to examine the chart again as you learn more about the topics.

Read this section to understand the SWOT analysis. SWOT is an acronym for strengths, weaknesses, opportunities, and threats. An organization's strengths and weaknesses are internal factors, and opportunities and threats are external factors. A SWOT analysis provides meaningful information about the current status of an organization and is among the information that supports the strategic planning process. This section includes a SWOT analysis of a fictional college. Describe the SWOT factors for the college which are within its control and could lead to strategic recommendations.

Read this section with additional information about the SWOT analysis. Organizational and individual examples of strengths, weaknesses, opportunities, and threats are provided. The analysis benefits an organization, but some potential risks are identified. Think about a major brand you are familiar with, such as Coca-Cola. How would you define the SWOT factors for this brand?

Watch this short video to learn about the PESTEL analysis, which may also be referred to as PESTLE analysis. PESTEL is political, economic, social, technological, environmental, and legal. This analysis identifies the broader environmental factors that affect or may affect an organization. Much like the SWOT analysis, the PESTEL analysis supports planning and strategic decision-making in an organization, including specific to marketing. What are the major PESTEL factors for Coca-Cola?

This chapter will reinforce what has been learned about the PESTEL analysis. More details and examples are provided about each aspect of PESTEL. What are the benefits of conducting SWOT and PESTEL analyses?

Read this chapter to learn the basics of the marketing mix. Examples are provided for each "P" of the marketing mix – product, price, promotion, and place. A marketer must define each P while determining the best combination of all 4 Ps to effectively reach a target market and ultimately create value for the customer and the company. Apply the 4 Ps to the Apple iPhone.

1. Product – How does the product address the needs and wants of a customer? What is unique about the product?
2. Price – How would you characterize the price? Are discounts available?
3. Place – Where can the customer buy the product? Would most customers be able to readily buy the iPhone when needed?
4. Promotion – How does the company communicate with customers about the product and its features and benefits? Does the customer communicate with the company and others about the product?

Watch this short video. The content reinforces what you know about the marketing mix through definitions and examples. Selected strategies and pitfalls are discussed. The speaker used an example of advising a client to increase only the price of a product, which led to increased sales for the company and no loss in customers. When would you determine that a company should change only one element of the marketing mix, such as price, without adjusting the other Ps?

Watch this video that includes definitions and examples of segmentation, targeting, and positioning with recognition of differentiation. Segmentation, targeting, and positioning (STP) is a marketing model used to:

1. Divide consumers into logical segments based on certain characteristics
2. Determine the target segment for an organization – the segment to which the organization can effectively appeal, meet its wants and needs, and profitably serve
3. Determine how the product or service should be positioned relative to similar products or services and in the minds of consumers.
4. The position may also be called a niche. Differentiation (D) builds upon positioning by distinguishing the product or service from competitive products based on product attributes or benefits. STP + D influence the 4 Ps and are among the key activities in strategic marketing planning. For the iPhone, how would you classify influential factors in market segmentation?

This chapter includes a definition of market segmentation and general strategies for segmentation and selecting a target market. An example of market segmentation is included based on the family life stage. How would you answer these questions if you were developing a marketing strategy for a new line of disposable diapers? Who should I be marketing to? Why them? How can I reach them most effectively?

Read this chapter to learn about common market segmentation options: geographic, demographic, psychographic, behavioral, and decision-maker. Examples are used to reinforce your understanding of each approach to segmentation. Segmentation begins with identifying all potential buyers of a product or service. This large group is then divided into segments based on one of the segmentation approaches. For any product or service, what are the disadvantages of a broadly defined segment, such as people 35 years and older who earn at least US$40,000 per year?

This chapter includes guidelines for market segmentation and target market selection. It is recognized that a company may use a concentration strategy, focusing on only one market segment, or a multi-segment strategy, focusing on two or more market segments. There is an example of family life stage segments with leisure activity information. Which one of the five segments most accurately describes you?

This chapter gives additional information about market segmentation and target markets. You should research to assess the market opportunity and the competitive environment. What should you do if there are limited potential customers or significant competitors?

Read this chapter about the relationship between targeting strategies and elements of the marketing mix. Key targeting strategies are defined:

• mass marketing (undifferentiated marketing);
• differentiated marketing;
• niche marketing; and
• micromarketing, which includes individual marketing and local marketing.
• An example demonstrates the connection between a targeting strategy and the marketing mix. The chapter uses Rolex as an example of niche or concentrated marketing. How would you justify the niche targeting strategy for Rolex watches? What product attributes and other factors validate this approach?

Read this chapter for definitions of and additional information about positioning and differentiation. Positioning is the process of determining the place of a product or service in the marketplace and in the minds of consumers when compared to alternative products or services. Differentiation builds upon positioning by defining product attributes and benefits to further distinguish a product or service from others and make it more appealing to the target segment. Think about a retail chain with which you are familiar. How does the retail chain's positioning and differentiation strategies compare to the 3 retail chains analyzed in the chapter, specifically Walmart, Target, and HBC?

Read this chapter for definitions of and additional information about positioning and differentiation. Positioning is the process of determining the place of a product or service in the marketplace and the minds of consumers when compared to alternative products or services. Differentiation builds upon positioning by defining product attributes and benefits to further distinguish a product or service from others and make it more appealing to the target segment. Think about a retail chain with which you are familiar. How do the retail chain's positioning and differentiation strategies compare to the three retail chains analyzed in the chapter: Walmart, Target, and HBC?

Read about implementing a positioning strategy for the marketing mix. There must be alignment between the positioning strategy and elements of the marketing mix to effectively reach the target segment and meet business goals. It is important to measure the impact of a positioning strategy. You may need a repositioning strategy if goals are not met. How would you categorize factors that indicate a positioning strategy is effective?

This chapter reinforces what has been learned about differentiation, a strategy that builds upon positioning. The concept of differentiation is defined, and examples are used to highlight key points. The advantages and disadvantages of a differentiation strategy are discussed. As you read this chapter, reflect on STP + D. If a fellow marketer asked you about the benefits of these activities, what would you say? Are there any challenges that you would share?

Read this chapter for an overview of the importance of ethics and social responsibility with two examples. Ethics and social responsibility are important in any field and organizational function, including marketing. They are important in marketing planning and must be apparent in all marketing activities. Marketers must recognize their ethical obligations to consumers regarding marketing research, consumer information, communications, products, and more. Doing the right thing creates value for the organization and the consumer. Think about how brands' ethics and social responsibility affect your purchasing decisions.

Read this chapter about common ethical issues associated with the marketing mix. Identified areas of concern include market research, market audience, advertising and promotion, delivery channels, and anti-competitive practices. Ethical marketing policies should guide activities. Marketing ethics can be an effective marketing tactic. What are your predictions about the results of unethical marketing practices?

This section summarizes major ethical concerns in marketing in 1985 compared to concerns in 2019. It is summarized that in 1985, bribery, fairness, honesty, and pricing were among the leading concerns. In 2019, the leading concerns were: deception; client data, storage, and privacy; product safety and sustainability; and market research. An environmental factor, technology, contributed to some concerns in 2019. There have been technological advancements over the years and notable growth in the number of digital marketing tools. Data collection, analysis, and storage more readily occur to support marketing efforts while presenting potential risks. Have you been notified that your customer information with a company may have been hacked? If so, how has that notice and any negative actions with your information affected your perception of the company? Has your product or service relationship with the organization changed?

Read this article about ethical matters in online data collection and advertising. The regulatory environment and marketing practices are examined. There is a discussion about the benefits and concerns of collecting and using consumer information. Think about your online activities. Do you know what information is collected about you and how it is used for marketing and other purposes?

This chapter is about social responsibility and how it relates to marketing planning. Coca-Cola is used as an example. Social responsibility is examined as part of Coca-Cola's corporate-level strategy and its marketing-specific strategy. To address a broader societal concern about childhood obesity, the company committed to well-being strategies to help fight obesity. These strategies affected the marketing mix, particularly product and promotion. Consider the analysis of Coca-Cola's commitment to CSR and socially responsible marketing presented in this chapter. Are there other strategies to consider, given current societal concerns?

Watch this video from 5:34 to 37:38. Sustainability has become a critical aspect of CSR. Strong brands are believed to be based on socially responsible values that benefit stakeholders, including consumers. LEGO, Ben and Jerry's, Glossier, and Lush are examples of brands that value CSR. What common characteristics among these and other brands reflect social responsibility in marketing?

Read this chapter to reinforce learning about socially responsible marketing. It is noted that socially responsible marketing responds to questionable marketing practices that adversely affect society. Economic criticisms of marketing are summarized in the article, specifically practices that result in higher prices for consumers and environmental concerns. Sustainable marketing principles are briefly summarized, including consumer-oriented marketing, customer-value marketing, innovative marketing, sense-of-mission marketing, and societal marketing. Think of an example of a product or service you purchase because of its socially responsible marketing.

Read this chapter to reinforce learning about socially responsible marketing. It is noted that socially responsible marketing responds to questionable marketing practices that adversely affect society. Economic criticisms of marketing are summarized in the article, specifically practices that result in higher prices for consumers and environmental concerns. Sustainable marketing principles are briefly summarized, including consumer-oriented marketing, customer-value marketing, innovative marketing, sense-of-mission marketing, and societal marketing. Think of an example of a product or service you purchase because of its socially responsible marketing.

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 1 Assessment.

This chapter describes the strategic importance of marketing information and research. Marketing information is available through many internal and external sources. A structured and objective marketing research process results in valuable information to support strategic marketing decisions. The more details an organization knows about consumers and markets, the more effective an organization can be in reaching target segments. Consumers and environmental factors change, so there must be a commitment to periodic marketing research and assessment of information to guide strategic decision-making. Explain why investing the essential time and money in acquiring marketing information is important.

Read this chapter to learn about the types of marketing information. Marketers use:

• internal data, including customer information;
• competitive information; and
• marketing research about customers, products, and markets.

Marketing research should identify a problem to address or an opportunity to explore. We should define the essential information to address research questions and the processes for collecting, analyzing, and reporting the information. In the chapter, the retail chain Target is an example of an organization that used marketing research to reposition the brand and identify new target segment opportunities after multiple factors negatively affected sales and the corporate image. Can you determine the likely information sources and marketing research focus at Target?

Watch this video that includes a general overview of marketing research. Additional information about research types is included later in this unit. Think about the four primary pursuits of marketing research:

1. Identifying pathways
2. Finding the RIGHT pathway
3. Considering if we really took the right path
4. Determining how to take the right path in the future

How would you summarize the common themes among these primary pursuits?

Read this chapter to learn about the steps in the marketing research process and relevant factors. This process applies to other research projects; "marketing" before the term "research process" simply provides an indicator of the research focus. The research process is often defined as 4-6 steps or sometimes more with varying details about essential activities in each step. The 5-step process is discussed in the chapter. A systematic research approach is emphasized in this chapter. Can you provide examples of any professional, academic, or personal research you have conducted that followed this 5-step research process?

Watch this video to reinforce your understanding of the marketing research process and provide guidelines on properly identifying research questions. The research question or questions must be clear and specific, so the research design and results lead to relevant and actionable information. In this video, the research process is defined as four steps and then as 11 steps that include more details about essential activities within the initial four steps. The speaker described the Iceberg Principle when determining good research questions. How would you explain this principle about symptoms and causes to your marketing team?

Read this chapter to learn about secondary marketing research. This type of research is a meaningful initial activity to discover relevant, available information and identify gaps in information to be addressed by primary research. Secondary research includes a review of existing information from an organization's internal data, such as customer information; government sources, such as the United States Census; industry and professional associations and publications; commercial data sources, such as Nielsen, a company that collects, analyzes, and sells marketing information; and internet search results. There are advantages and disadvantages to secondary research. What would be your most significant concern with secondary data?

Read this chapter to learn about selected specific sources of secondary data and the types of information available through the sources. The list is by no means comprehensive. To fully benefit from secondary research, there must be existing or acquired knowledge about the most relevant secondary data sources for a specific research project. Why should marketers regularly scan the environment for new information and new sources of marketing information?

Watch this video that includes an overview of secondary research and information for marketing purposes. The distinction between secondary data and primary data is discussed. Information is provided about the types of secondary data, how you can use them, and how to determine if data quality is acceptable for the research project. Why is it beneficial to initially collect and review secondary data in the marketing research process?

Watch this video to learn more about internal secondary data within an organization. Secondary data appears in customer relationship management systems (CRM), payment systems, website analytics, and other internal sources. Internal and external secondary data are important in the research process with limited costs and less acquisition time compared to primary research. What do you think are the limitations of internal secondary data?

Watch this video to learn more about external secondary data available from various external sources such as the government, industry and trade associations, publications, syndicated research sources, and more. What do you think are the advantages of external secondary data?

This chapter provides information about an internal secondary data source, the customer relationship management (CRM) system. CRM systems are software systems that support marketing, sales, and account management functions. The systems are used for multiple purposes, including capturing and centralizing data about customers and customer interactions, conducting data analysis to gain insights about better meeting target segments' needs, and determining the best marketing mix for target segments. Think about an email you received with a discount code for a new product related to a prior purchase from a company.

Read this chapter to learn about the role of artificial intelligence (AI) in marketing research. AI is the simulation of human intelligence in machines such as computers. AI is becoming important in marketing, including marketing research, where it can be used for data collection, market analysis, and understanding the customer. For example, consumer intelligence is acquired when connected devices such as a smart watch, smart appliances, or digital assistants (like Siri or Alexa) are used. Useful data about consumers and their activities may affect strategic marketing decisions. Can you provide examples of the connected devices you use and other digital means through which organizations acquire information about you as a consumer?

Read this chapter with information about primary marketing research methods. Since secondary research is based on existing information, it may not fully address the data needs for a research project. As such, primary research can address gaps in information. Primary research involves collecting data to specifically address the research question. It often requires more significant financial and time investments when compared to secondary research. The chapter includes descriptions of common primary research methods and a distinction between qualitative and quantitative research and data. What would be your most significant concern about primary marketing research?

Watch this video, which includes definitions of primary data sources and examples. Carefully review the chart in the segment about commonly collected data. All types of data collected tie into consumer behavior.

Read this chapter with descriptions of the three types of research design: exploratory, descriptive, and causal (experiments). Definitions are provided for each research design with examples of applications. Exploratory research design is a means to explore a situation. Descriptive research design describes the market or characteristics of research participants. Causal research design, also known as experimental research design, is a means for examining cause and effect. It is important to select a research design that will result in answers to the research question or questions. If you wanted to better understand customer satisfaction, which research design would be associated with the research project?

Watch this video for more information about exploratory, descriptive, and causal research designs. Definitions and purposes are provided for each design. There is also discussion about what each design tells and doesn't tell you and how to apply the design in marketing. How would you generalize situations for using a causal research design?

Read this brief article which summarizes six steps in the marketing research process and provides insights into how to prepare and analyze the data collected. It is recognized that data must be carefully processed and verified in preparation for relevant data analysis you might use statistical tools for. Biases must be avoided when interpreting data. What are the possible outcomes with personal perspectives influencing data interpretation?

Watch this video about evaluating secondary data and research. Examples demonstrate how to assess the quality and usefulness of secondary data using 2 of 5 guiding questions. It is important to assess marketing research data carefully for validity and usefulness while avoiding any potential biases or other concerns. Take note of the five guiding questions for evaluating the quality of secondary data summarized near the beginning of the video. We will cover the remaining guiding questions in the next video. What initial criteria would you use to assess secondary data and why?

Watch this video, which includes additional information about evaluating secondary data and research. The last 3 of 5 guiding questions about research quality are discussed with examples to highlight points. What are the concerns if the secondary data is inconsistent with other available information?

This chapter includes guidelines for using marketing information and research results to adjust marketing strategies and the marketing mix. Two examples include Proctor and Gamble launching Pampers in China and a fast food chain that modified its marketing strategy for a core product. Once an organization has new marketing information and research, it is important to thoroughly assess this information as it relates to target segments and the marketing mix. Review the questions to explore as marketers determine how marketing information and research translate into strategic changes. Can you provide three reasons why it is important to fully address these questions?

This short chapter covers preparing a report about marketing research results and presenting the information to decision-makers. You should document an entire marketing research project in a written report. The report should:

• outline the research questions;
• provide details about the research design and approach;
• summarize data collection and analysis procedures; and
• summarize results, including major findings that can affect strategic decision-making.

A formal presentation of results to key decision-makers is recommended. How would you justify sharing research results in both written and oral reports?

This chapter includes examples of how primary and secondary research results were used at Bookends to clearly define target markets and adjust the marketing mix. Evaluate how these examples use primary and secondary research to define marketing goals and adjust the marketing mix to appeal to 3 target segments. "Place" was the only P that did not change, but an online store was mentioned as a future possibility. How could you convince decision-makers that other marketing mix elements may need to change if they open an online store?

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 2 Assessment.

Read this article excerpt for a definition of consumer behavior and the history of the concept. Recognize that wants and needs drive consumer behavior. In this unit, you will explore the complex factors that affect consumer behavior when the buying process is approached, and various influences result in satisfying wants and needs. An understanding of consumer behavior has an impact on the marketing planning process, including determining the optimal marketing mix. Consider a point from Unit 2: research supports efforts to better understand consumer behavior.

Read this chapter about the importance of consumer behavior. Marketers must understand the influences on consumer behavior to reach customers effectively. An example of a new consumer highlights the marketing he is exposed to from a young age and likely influences his buying behavior. Can you explain how a specific marketing organization has influenced your buying behavior?

Watch this video about the importance of consumer behavior in the marketing planning process. The connections between the 3 Cs (customer, company, and competition), STP, and the 4 Ps are discussed. Carefully review the chart Consumer Behavior in the Marketing Process Framework. If asked by a marketing team, how would you explain the role of consumer behavior within this framework?

Read this chapter about the exchange process between the buyer and the seller of products and services. Carefully review the chart The Exchange Process and note that the exchange presents value for the buyer and the seller. Also, recognize that both parties have needs, wants, and trade-offs. In this chapter, there are introductions to selected models to describe consumer behavior. Carefully review Figure 1, which summarizes the Black Box Model. Later in this unit, you will explore selected internal and external factors listed in the figure.

Watch this video, which includes a summary of the five stages in the consumer decision-making process. A consumer follows this process when deciding to purchase a product or service. The level of involvement in the process can vary depending on the relative level of importance of the purchase. In some situations, the consumer may abandon the process at any stage. Compare your decision-making process to the process defined in the video.

Read this chapter, which will reinforce your knowledge about the consumer decision-making process when purchasing a product or service. Carefully review the consumer decision-making process. What can you infer about key activities during each stage of the process?

Read this chapter to understand how a consumer may be involved in the buying process, ranging from low to high. Two situations are presented to support points about the levels of involvement. What can you infer about a high-involvement decision as it relates to elements of the marketing mix?

This chapter will reinforce your understanding of consumer involvement levels in the buying process. Low, high, and limited involvement levels are discussed. Review the table, which includes examples of low- and high-involvement products, marketing mix factors, and consumer activities in the buying process. Selected strategies are recommended for increasing consumer involvement with supporting examples. After reviewing information about the buying process, think about your approach to buying key products and services. How would you categorize your level of involvement in buying these products and services (low, limited, or high) and why?

Read this brief chapter about influences on consumer decisions, including some situational, personal, psychological, and social factors.

Read this chapter, which covers key factors that influence consumers' buying behavior. The social situation, time, reason for the purchase, and lifestyle are among the multiple factors covered. Evaluate the most influential factors on your buying behavior.

Watch this video to learn how cultural, psychological, social, and personal factors influence consumer behavior. The factors are applied to many people's daily decisions to consume coffee. As the speaker asks at the end of the video, which factors influence you when buying a morning coffee? If you are not a coffee drinker, think about tea, juice, or another beverage of choice.

Read this chapter for general information about situational factors influencing the buying process. Situational factors include:

• consumer involvement in the buying process;
• familiarity with a product or brand; and
• the extent to which products and brands are available.

An example is used of purchasing a smartphone. Compare the example and questions in this section to your purchase process for a smartphone.

Read this chapter about the in-store shopping experience and how characteristics of the store influence buying decisions. Review the table with store atmospheric variables that impact shopping outcomes. Are all of these variables relevant to your in-store shopping experiences? Determine the factors that would impact your shopping outcomes for an online shopping experience.

Read this chapter for information about social factors that influence consumer behavior. The influences of culture, subculture, social class, and family are reviewed with selected examples. What are the possible outcomes when marketers are sensitive to the social influences on consumers?

Read this chapter for a definition of culture, the key characteristics of a culture, and the relevance of culture to marketing. Culture is recognized as a combination of beliefs, values, and customs that govern certain people's behavior. Practices and beliefs are among the factors that differentiate cultures. Marketers must understand the cultural influences of specific groups to properly target them. What are key characteristics of your culture that will influence your behavior as a consumer?

Read this chapter to learn about the influence of subcultures on consumer behavior. Each person can belong to one or more subcultures based on beliefs, languages, race, ethnicity, or other factors. Review the chart of American/Western sub-cultures from 1900 to 2010. Select one of the subcultures with which you are familiar. What are the subculture's key characteristics, and how do those factors influence consumer behavior?

Read this chapter about Consumer Culture Theory. Four areas of research about Consumer Culture Theory are consumer identity projects, marketplace cultures, socio-historical patterning of consumption, and consumers' interpretative strategies. What are the possible outcomes of reviewing results from these research approaches for the marketer?

Read this chapter for information about personal factors that influence consumer behavior. The influences of demographics, life stage, lifestyle, and personality are reviewed. List three reasons the marketing team should assess the relative significance of personal factors when determining marketing strategies.

Review this chart which includes classifications of Western generations. Certain characteristics and behaviors are associated with each category. This information is important to marketers as they determine optimal strategies for reaching specific generations. What is the description for your generation? What values, beliefs, practices, and more are apparent in your generation? How do these factors affect consumer behavior?

Read this article about Generation Z and associated consumer behavior. This notable consumer group is composed of digital consumers. They are receptive to buying products and services online. In addition, they rely on technology, such as smartphones or tablets, to support multiple steps in the buying process: information search, identification and evaluation of alternatives, and purchase decision. What information would you use to prioritize Generation Z among target segments for a new, innovative technology product?

Read this chapter about marketing implications concerning lifestyle and psychographics. Lifestyle factors include activities, interests, and opinions. Psychographic factors include motivations, values, interests, and other personal factors. How would you justify to a marketing team the importance of consumer lifestyles and psychographics in the marketing planning process?

Read this chapter to learn about the influences of needs, wants, and goals on consumer behavior. A need is an essential item, while a want is a personal preference for how to fulfill the need. Needs are classified as utilitarian and hedonic, essentially practical and luxurious. A goal is defined as the desired state. Motivation has an impact on a goal. Review the table that lists sample items for utilitarian/hedonic needs to understand the application of the concepts to product categories. Also, review the lists of sample products to address prevention and promotion orientations relative to goals. What are the potential outcomes when the marketing mix is modified to address different needs?

Read this chapter to learn about psychological influences on consumer behavior. Motivation, learning and socialization, and attitudes and beliefs are covered. Review the chart and related discussion about Maslow's Hierarchy of Needs. Provide the marketing team with three reasons for assessing the psychological influences on consumers as marketing strategies are determined.

Watch this short video about Maslow's Hierarchy of Needs, a major motivation theory. As discussed in the video, Abraham Maslow believed that there are five levels of needs that individuals try to fulfill:

1. Basic needs (physiological needs)
2. Safety and security (psychological needs)
3. Belonging and love (psychological needs)
4. Esteem (a psychological need)
5. Self-actualization (a self-fulfillment need).

Evaluate the potential marketing implications of each level of need.

Read this chapter about selected theories of personality that have an impact on consumer behavior. Review the section on Sigmund Freud's personality theory with definitions of the id, ego, and superego, which influence motivations and other behaviors. Also, review the sections about the personality theories of Erik Erikson and Carl Jung. What are the key similarities and differences among the three personality theories?

Watch this short video with additional information about the personality theory of Sigmund Freud. The speaker explains Id (the unconscious mind), Superego (the preconscious mind), and Ego (the conscious mind). How would you relate Freud's personality theory to marketing?

Watch the noted sections of this video with audio and slides for more information about Maslow's Hierarchy of Needs and an introduction to Herzberg's Two-Factor Theory, another motivation theory. Play the video from the beginning through the comparison of Maslow and Herzberg, which ends at 5:57. How does Maslow's Hierarchy of Needs relate to Herzberg's Two-Factor Theory?

Read this article, which applies the motivational theories of Maslow's Hierarchy of Needs and Herzberg's Two-Factor Theory to consumer behavior and expected consumption patterns in China before, during, and after the COVID-19 pandemic. How would you apply the theories to your behaviors and consumption during the pandemic? Based on what you learned about the research process in Unit 2, what do you think about the research approach described in the article?

Read this chapter with an example of a consumer buying decision, specifically buying a pet. The process is assessed from the consumer's and marketer's perspectives, with consumer behavior and marketing concepts applied to the situation. Review the consumer decision-making process and relate the steps to the example. Do you agree that this high-involvement decision required a methodical approach? If yes, why?

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 3 Assessment.

Read this chapter, which will reinforce a brand's definition, history, and importance. It is recognized that brands create market perceptions, experiences, and value. In terms of perceptions, there are summaries of the meanings a brand can convey: attributes, benefits, values, culture, personality, and users. The six factors are applied to the brand Mercedes-Benz. Based on the information provided, how would you generalize the characteristics of a Mercedes-Benz buyer?

Read this chapter to learn more about a brand's strategic significance and strategies that can lead to brand loyalty. How would you summarize the importance of brand loyalty?

Read this chapter to learn about the types of brands. Brands can relate to organizations, people, events, and more. The brands help to identify things and allow consumers to associate the brands with various attributes and experiences. Based on what you have learned about brands, would you consider Facebook a media brand? Think about how you would explain your response.

Read this chapter about selecting a brand name. Determining a brand name is an important strategic marketing decision. This name creates a distinct identity for a company, product, or service. In the chapter, naming strategies are summarized, and eight steps are discussed for developing and selecting a name brand. How would you explain the importance of legal checks, various name checks, and consumer testing?

Watch this video to learn about important steps to creating a meaningful brand name. The speaker reviews these steps:

1. Selecting the type of name (seven categories of brand names are described).
2. Deciding what the name should communicate.
3. Making sure that the name is available for use.

Multiple examples are provided of great brand names and their meanings. For a descriptive brand name, American Airlines is used as an example. What does this brand name communicate to you? Consider if another type of brand name would have been more appropriate, and if so, why.

Read this chapter about creating appropriate packaging for a product. Like a brand name, the packaging is an important strategic marketing decision. The packaging protects, promotes, and communicates details about the product. It is noted that the packaging plays a primary role relative to the product. Nine roles are summarized in the chapter: quality, safety, instruction, legal compliance, distinction, convenience, aesthetic beauty, improved utility, and sustainability. Can you describe three products with packaging that address at least three of the roles described in the chapter?

Review this article about the importance of brands. Details are included about a research study conducted to examine the effect of brands on buying behaviors and product quality assessments for mobile phones. How would you summarize the results to convince a marketing team that brand matters?

Read this chapter about brand equity, which is the value of a brand based on consumer perceptions. Brand equity impacts buying decisions which, in turn, affect a brand's profitability. Selected models for assessing brand equity are reviewed. Brand equity can lead to brand loyalty. How would you describe factors contributing to significant brand equity, such as the Apple brand?

Read this article about brand equity and selected models for evaluating it. Table 1 summarizes definitions of brand equity over time. The article also includes information about multiple models for measuring brand equity. Can you provide a marketing team with at least three reasons for assessing brand equity?

Review this article for information about brand awareness. The concept relates to a consumer's ability to recognize or recall a brand. Brand awareness consists of brand recall (unaided recall) and brand recognition (aided recall). Brand awareness has a notable influence on brands. As such, it is important for marketers to effectively build awareness of a brand. Can you provide the marketing team with three reasons for building brand awareness?

Watch this video, which reinforces information about brand awareness. The speaker comments that brand awareness means being recognized and remembered. Brand awareness is built on online and offline visibility and appropriate content. Can you identify at least three visibility and content factors for Coca-Cola that have resulted in notable brand awareness?

Watch this video about brand loyalty from 2:27 to 21:49. The benefits of brand loyalty are emphasized with examples of specific brands. The results of a recent study are discussed, including the impact of the pandemic on brand loyalty. First-party data (information companies collect directly from consumers and own) is critical for building a brand. Can you explain how Starbucks has built brand loyalty?

Read this chapter about brand positioning and alignment. Strategies for building a strong brand through the brand platform, promise, core values, voice and personality, and positioning statement are covered. Review the Brand, Messaging, and Marketing Alignment chart near the end of the chapter. Can you provide the marketing team with three reasons for consistency in all brand-related activities?

Read this chapter about brand development strategies. It is recognized that organizations can use various strategies for establishing and building strong brands, which adds to their value for stakeholders. Options include brand and line extensions, co-branding, licensing, and more. How would you describe the risks of at least 2 of the options covered in the chapter?

Watch this video about brand positioning from 6:47 to 15:07. Then, watch from 19:36 to 42:05 for information about the impact of brands, brand architecture, and best practices for brand positioning with examples. What is a brand you feel connected to personally? Why? How has that brand met or exceeded your expectations?

Read this chapter about brand building and watch the videos. How do the announcements of REI and MEC change your perceptions of their target market, outdoor enthusiasts? How would each announcement affect your perception of the brand?

Read this chapter about branding. A brief discussion about brand power includes lists of the most valuable brands in 2019 and the most powerful brands in 2018. The Lego brand is used as an example of effective brand-building strategies. Review The LEGO Brand Framework chart. Can you name three factors that have contributed to the brand's success?

Read this chapter about stages of the product life cycle. Organizations must effectively manage products through various environmental and other conditions. Products go through a life cycle, as illustrated in the chapter:

1. Product development
2. Market introduction
3. Growth
4. Maturity
5. Decline

Review the characteristics listed for each stage of the product life cycle. You should modify marketing strategies at each stage. How would you apply the characteristics of the growth stage to marketing strategies for a product?

Read this chapter about marketing through the product life cycle. Common issues and marketing strategies are covered for each stage. How would you present the product life cycle information to a marketing team, so key factors are considered in strategic planning? List three reasons why you must assess the life cycle of a brand.

Review this section with a summary of common strategies for marketing objectives and the 4 Ps related to each stage of the product life cycle. How would you characterize marketing objectives throughout the product life cycle?

Review this chapter about challenges in the product life cycle. Examples are used of the iPod, smartphones, and digital cameras. Can you give two reasons why a product introduction may affect the product life cycle of another product within the brand category or in another product category?

Watch this video about losing control of a brand's reputation. The speaker acknowledged that there could be limited control over the reputations of brands, companies, and people. He recognized that this loss of control is not always a negative matter. Examples are provided of brands and companies that have faced reputation challenges. Can you describe two strategies for a company to best manage the reputation of its brand, particularly given the many online forums for sharing information?

Read this article about branding and risk management. The possibilities and consequences associated with a brand are recognized. There is a call to action to manage brand risk with questions to assess risk and recommended strategies to manage brand risks. Review the following sections: Every light has its shadow, brand reputation risk, the Martha Stewart Living Omnimedia example, and from Figure 2 to the end of the article. Can you provide decision-makers with three strategies for managing the brand's reputation?

Review this video about seven mistakes that could hurt a business and its brand. The speaker covers mistakes such as making false claims or promises, ignoring negative feedback, and misusing social media. Think of a branded product or service where false claims or promises appeared in the news. What was the likely effect on the brand when the false information became publicly known?

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 4 Assessment.

Watch this video about digital marketing and how to use it to grow a business. We will introduce you to digital marketing and strategies for effectively using it and measuring results. Can you provide three examples of how you have been exposed to the brand through digital marketing efforts?

Read this chapter with an introduction to digital marketing. The concept is defined, and its global importance is reviewed. The POEM framework of digital marketing is explained. POEM is an acronym that means paid, owned, and earned media. Can you create a list of media assets for an organization you are familiar with and categorize them as paid, owned, and earned?

Read this brief chapter with a list of internet marketing options and a brief explanation for each one. Based on your online experiences, can you explain why banner ads are effective digital marketing tools?

Read this chapter that includes general information about digital marketing. In addition, multiple digital marketing tools are described with tips and recommendations for using them. Websites, content marketing, search engine optimization (SEO), and social media marketing are covered. A marketer must determine the most effective communications strategies to reach consumers, including digital tools. How would you describe the value of a website as part of a digital communications strategy?

This chapter explains the marketing practice of search engine optimization (SEO). The concept is described, its importance is explained, and basic information is provided on how it works. The marketing team has asked you to explain SEO briefly. What would you say?

Read this chapter with additional information about search engine optimization (SEO). There is a discussion about on-site and off-site SEO and strategies for influencing search outcomes. How would you describe the key differences between on-site and off-site SEO?

This brief chapter includes a summary of mobile marketing options, including text messages, multimedia messages, and QR codes. Can you provide two reasons why mobile marketing can be effective?

Read this chapter, which will supplement what has been learned about mobile marketing. Guidelines are provided for developing a mobile marketing strategy with multiple options for communicating with consumers. What are two mobile content options that will support a marketing communications strategy?

This brief chapter contains a list of social media marketing options and short explanations for selected social network options. Can you explain why a blog is among the effective marketing communications options?

Read this chapter, which includes a history of social media marketing. Ten social websites of value for business are listed. There is a discussion about the benefits of social media with some success tips. Review the list of the ten social websites. Which ones have you accessed to look specifically for marketing communications?

Read this chapter for additional information about the use of social media as a marketing tool and the benefits of its use. Carefully review the table with traditional media compared to social media. Based on this information, what are the top 3 benefits of social media marketing and why?

Read this chapter about social media. The use of social media is justified, and a framework is provided for developing any social media marketing strategy. Selected social media platforms are listed with the pros and cons of the sites. Carefully review the Engagement Pyramid. Although a limited percentage of consumers will become advocates/brand promoters, why is it important to use social media marketing?

Read this chapter to learn about selected social media sites and information about their users. Hashtags and a list of other digital content options are included. It is noted that internet users have short attention spans. Can you list three types of content that could be short yet effective in communicating with consumers?

Read this chapter for additional information about using social platforms for marketing communications and user data for the leading seven social network sites. Provide an example of effective marketing communications that you have seen on one of these sites.

Read this chapter about the connection between social media and content. Recommendations are made for locating and creating appropriate content. What criteria would you use to assess the various formats for content such as photos, live or recorded videos, articles, or other options?

Watch this video about content marketing. A definition is provided of content marketing. The speaker explains his six recommendations for building a content marketing strategy. What format of marketing content has the most significant impact on you?

This chapter includes information for developing an effective content marketing strategy. Carefully review the image with content categories by stage of the customer journey – the customer's experience with a brand. Strategic recommendations are made for developing appropriate content. Can you justify the suggestion that 65% of content should be curated?

Review this infographic with a brief history of content marketing. Notice some of the changes in content type and platform over time. How would you categorize current strategies with content type and platform?

Read this chapter about email marketing to learn the importance of this approach to strategic marketing communications and how to create an effective email campaign. What arguments would you use to convince the marketing team that email marketing is a good strategic option for marketing communications?

Watch this video with a definition of email marketing and examples from selected businesses as to how it is used. Can you describe recent email marketing communications that you received from an organization?

Read this chapter to learn about measuring the effectiveness of marketing communications. Multiple measures are identified and explained. Key performance indicators (KPIs) are related to business objectives and the marketing activity/tool. Can you describe at least three metrics for measuring marketing communications effectiveness?

Review this chapter, which details metrics for assessing digital marketing activities. Can you describe at least three marketing KPIs and their purpose?

Review this graphical representation of A/B testing, also known as split testing. How would you describe the benefits of using this approach to analyze a digital marketing communications campaign?

Read this chapter for a summary of multiple cultural factors that impact marketing on a global level. How would you apply this information to digital marketing communications?

Read this chapter for an overview of factors that are concerns when marketing across cultures. Explain to the marketing team the relevance of The Onion Metaphor of Culture to cross-cultural marketing.

Read this chapter with an overview of ethical and legal considerations for online and other marketing. Email marketing matters, such as the CAN-SPAM Act, are covered along with U.S. privacy laws, warranties, and promises. From a marketer's perspective, explain the importance of warranties and promises made to a consumer.

Review this short video with information about relevant regulations for email marketing. If the marketing team was preparing an email marketing campaign, how would you present this information to them with at least three specific guidelines to follow?

This document about the CAN-SPAM Act reinforces content in the video you watched about email marketing compliance. How would the marketing team demonstrate compliance with the act?

Watch this video about the General Data Protection Regulation (GDPR) passed by the European Union but can have a broader impact, including on organizations engaged in digital marketing. Why is it important to apply these guidelines to a digital marketing communications plan regardless of the company's home country?

Watch this as you work through the unit and prepare to take the final exam.

You can also download the presentation slides so you can make notes.

We also recommend that you review this Study Guide before taking the Unit 5 Assessment.

Watch this as you prepare to take the final exam.

You can also download the presentation slides so you can make notes.

Watch this as you prepare to take the final exam.

You can also download the presentation slides so you can make notes.