Task 2 Digital Presentation A List of Concept Examples
Task 2 Digital Presentation A List of Concept Examples 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 of marketing. In a single chapter or lecture we cover numerous concepts! The following are some example of the many concepts you could find applicable to your presentation.PLEASE NOTE: These are just some examples. This list is to helpshow you how a concept can be connected or applied to your marketing highlight. However, there are numerous concepts that could be applicable and you do not have to use examples from this listand 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. Look for concepts that are relevant to your marketing highlight. For example, if the marketing highlight is ethical or sustainable in nature, look for sustainable marketing concepts. If the marketing highlight is a piece of marketing communication, use at least one marketing communication concept. Just make sure you select relevant conceptsthat you can apply to your marketing highlight and discuss with sufficient depth. Example Concept Potential Discussion Points Within that Concept Target Market and Segmentation You could discuss how your marketing highlight segments its target market using the four segmentation variables. Branding You could discussthe brand equity or brand personality of your marketing highlight or make references to concepts such as co-branding if appropriate. The Three Product Layers If appropriate, you could define, identify, and discuss the three product layers of your marketing highlight. Price You could discuss the pricing strategy or psychological pricing technique and why it is appropriate or other factors that might influence the price (e.g. competition, economy). Consumer Decision Making Process You could discuss the consumer decision making process in relation to your marketing highlight with reference to high/low involvement. Factors Influencing Consumer Behaviour You could draw connections to cultural, social, personal, psychological, and situational influences on consumer behaviour. 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 or theexecution strategy used, and why it was appropriate and effective. The Three Types of Innovation You could provide a definition of innovation and discuss how your marketing highlight fits this definition and which type of innovation it is. 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 andhow the product lifecycle influences the marketing strategy that support your highlight. Societal Marketing If appropriate, you could discuss the type of societal marketing strategy your marketing highlight reflects.