Study Cases Midterm Flash Cards

 
Pile Management Card
Cases Midterm

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ingredient branding
branding a product as an ingredient in another product (ex: Intel Pentium Processor and DuPont's Stainmaster)
product branding
branding specific products and services
corporate branding
umbrella over all company products and services, under company name
push-pull advertising
pushes brand/products/services at manufacturers while consumers pull the information they demand for their needs
characteristics of trade media
-smaller world with fewer reporters and editors
-very focused content and targeted audience
-rich editorial calendars
-longer lead times
lobbying
public affairs sector with primary intentions to influence public policy and regulations

-mostly collecting info rather than actually influencing decisions
-becoming increasingly regulated yet is still legal and accepted
goal of issues management
to reduce risk, preserve markets, create opportunities and manage image for stakeholders and the organization as a whole
issues management
public affairs sector that focuses on anticipation/evaluation/response of public policy issues through early issue ID and the development of a strategic response
public affairs
builds and maintains government relations and local community relations

goal = to create an environment that allows the organization to achieve its goals
investor relations characteristics
-specialized
-purpose: to enhance value of stock and reduce cost of capital
-two-way communication increases shareholder confidence
-greatly impacts stock prices
-rule of thumb: you tell one, you must tell all and at the same time
-smaller audience
Three main benefits of community relations
1. philanthropy ties back to company
2. free publicity and financial benefits
3. lower turnover rate
Three levels of community relations
proactive
reactive
maintenance
old vs. new view of community relations
old = an extension of employee relations

new = much more involvement from organization
community
a social organism made up of interactions between residents and organizations
community relations
planned, active and continuing participation in a community in the attempt to maintain and enhance the environment (mutually beneficial)
audience segmentation
identify and prioritize audiences to determine which group will be most beneficial to target

mostly segmented by geographic location and income level
Seven principles of creating a brand (think creative leverage)
1. start from scratch
2. simple definition of problem
3. discovering proprietary emotion
4. focus on idea, not budget
5. take a strategic risk
6. collaboration
7. listen to customer
media vs. creative leverage
media leverage: money buying up time and space

creative leverage: outsmart rather than outspend
-strategic thinking and based on research
-actionable and accountable for changing behavior
platform idea
marketing idea that becomes a part of the company (ex: Citibank case - "live richly")
exterior factors
trends
consumers
media
competitors
government
interior factors
culture
interior actions and policies
existing communications
structural organization
time and budget
definition of situational analysis
-expands on problem/opportunity
-puts together all that is known (history, forces, stakeholders) and is the basis for SWOT analysis
Seven parts of the situational analysis
research
history/background
overview of situation
interior/exterior factors
stakeholders
target audience
problem statement
problem statement
-specific and measurable
-concisely summarizes situation from research
-written in present tense
-doesn't imply a solution
Three brand valuation approaches
research-based
cost-driven
comparable
diffusion
the spreading of ideas throughout a community and among a social system (aka: "road to acceptance")
What are companies most valued by: tangible or intangible assets?
intangible assets
tangible vs. intangible assets
Tangible = land, money, investment, buildings

Intangible = technology, patents, employees, BRAND (most important)
What makes a brand great?
compelling idea
core purpose
central principal
differentiation
competition
consistency
superior products/services
distinctive positioning
interior/exterior commitment
relevancy
Six brand management guidelines
1. protect your brand
2. honor your stakeholders
3. treat it as an investment
4. exploit financial potential
5. understand that it's complex
6. consistency
What is NOT a brand?
logo
jingle
product itself
tagline
positioning in the market
Three components of branding
valuable asset
needs protection
long-term competitive advantage
Three parts that make up a brand
vision = management
culture = employees
image = outside world
What makes an ad good?
tells benefits
accuracy
thorough
images
well-organized
memorable
persuasive
unique selling point
advertising
-single component where info is placed in the media by an identified sponsor
-pay for time & space
-highly controlled
-usually one-way communication
public relations
-management function that builds relationships through two-way communication
-usually not paid advertising
-mix of several tactics
-oftentimes have less control but is seen as more credible
-often linked to news
marketing
-management function that identifies a demand and offers products and services
-causes a transaction
-variety of business activities
-price, product, promotion, packaging & distribution
Five components of a case study
situational analysis
identifying audience/stakeholders
opportunities/challenges
options/strategy (specific actions)
solutions/outcomes
Six types of research
primary
secondary
qualitative
quantitative
formal
informal
Four Step Process
1. Define problem/opportunity
-Research and situational analysis
2. Planning/programming
-Devise and package a strategy
3. Execution
-Specific actions and frame message
4. Evaluation
-Assessment of results and measurement
barriers to communication
jargon, cultures & values, credibility, censorship, ethics, unreliable media, new media, gatekeepers, time, education, emotion, static
Three purposes of communication
to inform
to persuade
to entertain
Five basic communication components
sender
message
channel
receiver
feedback
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