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BUS105 Marketing Essentials

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Question:

What is a concept A concept is a general idea that encapsulates an abstract notion. Your marketing textbook is entirely written to focus on the many concepts that contribute to a basic understanding marketing. In a single chapter or lecture we cover numerous concepts!

The following are some example some of the many concepts you could find applicable to your presentation. PLEASE NOTE: These are just some examples. This list serves to provide clarity to your thinking of how a concept can be connected or applied to your marketing highlight. There are numerous concepts that could be applicable to your marketing highlight topic, you do not have to use example from this list. I encourage you to look beyond this short list of examples. There are also many more points that could be discussed and applied within each one of the examples provided below.

Example Concept

Potential example points to discuss with within that concept

Target Audience

Discuss how your marketing highlight segments it target audience

Branding

You could discuss the type of brand your highlight focuses on; the attributes of your brand and how that relates to the target audience; brand equity

Price

You could discuss the pricing objective and why it is appropriate; other factors that might be influencing the price (e.g. competition, economy)

Consumer behaviour

You could discuss the consumer decision making process in relation to your marketing highlight; high/low involvement; draw connections to internal, social and situation influences

Integration marketing communication (IMC)

You could discuss the IMC mix used and why it is appropriate for the target audience; the functions the IMC mix uses to accomplish communication objectives; creative appeal

Innovation

You could provide a definition of innovation and discuss how your marketing highlight reflects the definition

Differentiation

You could discuss the concept of differentiation, why it is important and how your marketing highlight differentiates itself from the competition

Product lifecycle

You could discuss what point in the product lifecycle your marketing highlight may reflect; how the product lifecycle influences the marketing strategy that support your highlights

Societal marketing

If fitting, you could discuss the type of societal marketing strategy your marketing highlights reflects.

 

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