Catalog / Marketing Concepts Cheat Sheet

Marketing Concepts Cheat Sheet

A comprehensive cheat sheet covering essential marketing concepts, frameworks, and strategies for effective marketing and branding.

Core Marketing Concepts

The Marketing Mix (4Ps)

Product

Features, benefits, quality, design, branding, packaging, services. Focuses on what you are selling.

Example: A smartphone’s features, operating system, and included accessories.

Price

Pricing strategy, discounts, payment methods, credit terms. Focuses on how much you are selling it for.

Example: The retail price of a software subscription.

Place

Distribution channels, logistics, retail locations, online presence. Focuses on where you are selling.

Example: Selling products through a company’s website and retail stores.

Promotion

Advertising, public relations, sales promotions, content marketing, social media. Focuses on how to promote a product or service.

Example: Running a social media campaign for a new product launch.

Segmentation, Targeting, and Positioning (STP)

Segmentation: Dividing the market into distinct groups of customers with different needs, characteristics, or behaviors.

Example: Segmenting the market based on demographics (age, gender, income), psychographics (lifestyle, values), or behavior (usage rate, loyalty).

Targeting: Evaluating each segment’s attractiveness and selecting one or more segments to enter.

Example: Targeting young professionals with a premium coffee brand.

Positioning: Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.

Example: Positioning a car as the safest option for families.

Customer Lifetime Value (CLV)

Predicting the net profit attributed to the entire future relationship with a customer.

Formula: CLV = (Annual Profit Contribution per Customer * Average Number of Years as a Customer) - Customer Acquisition Cost

Example: A customer who spends $100 per year for 5 years, with a customer acquisition cost of $50, has a CLV of $450.

Branding Concepts

Brand Equity

The added value endowed on products and services, which may be reflected in the way consumers think, feel, and act with respect to the brand.

Components: Brand awareness, brand loyalty, perceived quality, brand associations.

Example: Apple’s brand equity allows them to charge premium prices due to strong brand loyalty and perceived quality.

Brand Positioning

Value Proposition

The set of benefits or values a company promises to deliver to consumers to satisfy their needs.

Example: Volvo’s value proposition centers on safety and reliability.

Points-of-Parity (POPs)

Associations that are not necessarily unique to the brand but may be shared with other brands.

Example: A bank offering online banking services, a common feature among banks.

Points-of-Difference (PODs)

Associations that are unique to the brand and strongly held in consumers’ minds.

Example: Tesla’s unique POD is its focus on electric vehicles and innovative technology.

Brand Architecture

The structure of brands within an organizational entity.

Types:

  • House of Brands: Independent brands with separate identities (e.g., P&G).
  • Branded House: One master brand with sub-brands (e.g., Virgin).
  • Hybrid: Combination of both (e.g., Marriott).

Example: P&G uses a House of Brands strategy with brands like Pampers, Tide, and Gillette operating independently.

Marketing Strategies

Inbound Marketing

Attracting customers through relevant and helpful content and adding value at every stage of the customer’s buying journey.

Key Components: Content marketing, SEO, social media, email marketing, automation.

Example: Creating blog posts, ebooks, and webinars that address customer pain points and provide valuable information.

Outbound Marketing

Reaching out to potential customers through traditional advertising and sales tactics.

Key Components: TV advertising, print advertising, cold calling, direct mail.

Example: Running a TV commercial during a popular show or sending out brochures through direct mail.

Digital Marketing

Search Engine Optimization (SEO)

Optimizing website content to rank higher in search engine results pages (SERPs).

Example: Using relevant keywords, building backlinks, and improving website speed to improve search rankings.

Social Media Marketing (SMM)

Using social media platforms to build brand awareness, engage with customers, and drive website traffic.

Example: Creating engaging content, running targeted ads, and interacting with followers on platforms like Facebook, Instagram, and Twitter.

Email Marketing

Sending targeted emails to prospects and customers to nurture leads, promote products, and build relationships.

Example: Sending welcome emails, newsletters, and promotional offers to subscribers.

Marketing Frameworks

SWOT Analysis

Evaluating a company’s Strengths, Weaknesses, Opportunities, and Threats to develop strategic plans.

Example: A company identifying its strong brand reputation as a strength, outdated technology as a weakness, expanding into new markets as an opportunity, and increased competition as a threat.

PESTLE Analysis

Analyzing the Political, Economic, Social, Technological, Legal, and Environmental factors that can affect a company’s operations.

Example: A company assessing the impact of new environmental regulations (environmental), changes in consumer spending (economic), and advancements in artificial intelligence (technological) on its business.

Porter's Five Forces

Analyzing the competitive intensity and attractiveness of an industry.

Forces:

  • Threat of new entrants
  • Bargaining power of suppliers
  • Bargaining power of buyers
  • Threat of substitute products or services
  • Rivalry among existing competitors

Example: Analyzing the threat of new entrants in the smartphone industry, considering factors like high capital requirements and brand loyalty.