Communication Media and Customer Value Quiz
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Questions and Answers

Which communication media option would most likely provide the most sensory cues?

  • E-mail
  • Telephone
  • 360° video ad (correct)
  • Newspaper ad

    • What is the main focus for organizations when selecting appropriate communication media?

  • Reducing marketing costs
  • Enhancing brand recognition
  • Increasing employee satisfaction
  • Achieving specific objectives (correct)

    • In characterizing communication media, which of the following is classified as impersonal?

  • Video-conferencing
  • Face-to-face communication
  • Television ad (correct)
  • Telephone call

    • Which of the following communication media is the least personal?

    <p>Television ad</p> Signup and view all the answers

    Which option best describes the sensory cues present in a hologram compared to a newspaper ad?

    <p>More personal with many sensory cues</p> Signup and view all the answers

    What is the purpose of utilizing mixed reality in communication?

    <p>To engage users through many sensory cues</p> Signup and view all the answers

    In the context of relationship building, which communication medium is most effective?

    <p>Face-to-face communication</p> Signup and view all the answers

    What is meant by 'Customer Value' in the context of pricing?

    <p>The benefits a customer receives minus the costs incurred for a product.</p> Signup and view all the answers

    Which term refers to a value element where both suppliers' offerings provide similar benefits or costs?

    <p>Point of parity</p> Signup and view all the answers

    What is included in the process of building a Customer Value Model as the first step?

    <p>List all value and price elements for the offering.</p> Signup and view all the answers

    Which aspect of a value-based pricing approach focuses on customer's application of a product?

    <p>Monetary worth of benefits</p> Signup and view all the answers

    What does the 'Point of contention' signify in assessing value elements?

    <p>Both suppliers have equal claims of superiority without evidence.</p> Signup and view all the answers

    What is a defining characteristic of social media in terms of user interaction?

    <p>Users generate and exchange content.</p> Signup and view all the answers

    Which factor is likely to influence the cost/impact per contact for communication media?

    <p>The personal nature and sensory cues of the media.</p> Signup and view all the answers

    What is a key consideration for organizations when choosing communication media?

    <p>What the organization aims to achieve.</p> Signup and view all the answers

    In what way do social networks typically present users to their connections?

    <p>With user profile pages that may have limited visibility.</p> Signup and view all the answers

    Which phase comes first in the inbound marketing process?

    <p>Creating different types of content.</p> Signup and view all the answers

    What type of connections can users make in social networks?

    <p>Connections based on interests and friendships.</p> Signup and view all the answers

    When assessing communication media, what is the general trend observed?

    <p>Progressing from impersonal to personal and few to many sensory cues.</p> Signup and view all the answers

    In the context of communication objectives, which group is primarily targeted for generating awareness?

    <p>Potential customers.</p> Signup and view all the answers

    What does user-generated content (UGC) primarily involve?

    <p>Content generated and exchanged by users themselves.</p> Signup and view all the answers

    Which emotions are predominantly represented in viral campaigns according to Plutchik's wheel?

    <p>Amazement and Interest</p> Signup and view all the answers

    What is the least commonly found type of emotion in highly shared content?

    <p>Negative Emotions</p> Signup and view all the answers

    What is the primary importance of generating traffic to the company website?

    <p>To track potential customer activity</p> Signup and view all the answers

    Which of these strategies is described as moving from impersonal to personal communication?

    <p>Social media advertising</p> Signup and view all the answers

    According to the content, which emotion is most commonly associated with viral content?

    <p>Surprise</p> Signup and view all the answers

    What happens to the cost/impact per contact as the communication media becomes more personal?

    <p>It generally increases</p> Signup and view all the answers

    What role do emotions of admiration and joy play in viral campaigns?

    <p>They enhance sharing</p> Signup and view all the answers

    What is the general sequence of communication media characteristics as described?

    <p>Impersonal to Personal</p> Signup and view all the answers

    Which elements are typically involved in generating customer awareness and interest?

    <p>A range of communication strategies</p> Signup and view all the answers

    What is a key component that allows tracking of customer interest on a website?

    <p>Real-time analytics tools</p> Signup and view all the answers

    Which aspect of TelePresence primarily enhances the immersive experience for users?

    <p>True life-size representation of participants</p> Signup and view all the answers

    What need does TelePresence primarily address in professional settings?

    <p>Eliminating the need for physical meetings</p> Signup and view all the answers

    How does Cisco's TelePresence differ from traditional video conferencing?

    <p>It offers a more immersive, life-size meeting experience.</p> Signup and view all the answers

    What is the primary function of a medium in marketing communication?

    <p>To communicate information to consumers</p> Signup and view all the answers

    Which of the following is a key feature of channels in marketing?

    <p>They allow transaction completion.</p> Signup and view all the answers

    What is one of the challenges associated with conventional flying mentioned in relation to TelePresence?

    <p>Nuisances such as delays and discomforts</p> Signup and view all the answers

    What type of product is Cisco's TelePresence categorized as?

    <p>High-end video conferencing solution</p> Signup and view all the answers

    Which of the following best represents the relationship between supplier and customer firms?

    <p>Supplier firms facilitate communication with customer firms.</p> Signup and view all the answers

    How does social media impact the distinction between medium and channel?

    <p>It blurs the lines between communication and transaction.</p> Signup and view all the answers

    What is a significant benefit of TelePresence for organizations?

    <p>It minimizes travel time and associated costs.</p> Signup and view all the answers

    Study Notes

    Promotion/Communication

    • The HEC Liège Management School, Liège University, offers a promotion/communication curriculum.

    Communication

    • Point 1: Understanding the characteristics of communication media and how to classify them.
    • Point 2: Organizations need to determine their communication objectives and select appropriate media.

    Characterizing Communication Media

    • A model is presented showing communication media along two axes: impersonal/personal and few/many sensory cues.
    • Examples of impersonal media with few sensory cues: newspaper/radio ads.
    • Examples of impersonal media with many sensory cues: television ads, 360° video ads.
    • Examples of personal media with few sensory cues: telephone, e-mail.
    • Examples of personal media with many sensory cues: video-conferencing, face-to-face interactions, holograms.

    Impersonal, Few Sensory Cues

    • This section highlights examples of classified ads.
    • The ads cover various categories like help wanted, rentals, sales, computers, and trades.
    • Specific classified ad examples are provided within the section.

    Impersonal, Many Sensory Cues

    • This section involves large images of billboards designed to stimulate senses through smells.
    • The ads are for McDonald's French fries, emphasizing smell as a branding aspect.

    This section shows communication media through the lens of the corona crisis:

    • Audi created virtual backgrounds for improved video conferencing.

    Characterizing Social Media?

    • A model is shown depicting social media along two axes: impersonal/personal and few/many sensory cues.

    Social Media Features

    • Social media can have open or closed access.
    • Users connect via online social networks: family ties, friendships, acquaintances, interest groups, professional networks, companies/brands, celebrities, influencers, peer-to-peer connections.
    • Social networks show connection details to users.
    • User-generated content (UGC) is common.
    • Social media interactions rely on applications and services.
    • The presentation discusses the TheFacebook (now Facebook) as an online network used in colleges.

    Price

    • Traditional pricing approaches include cost-plus pricing and competition-based pricing.
    • Cost-plus pricing relies on known costs and doesn't adjust to dynamic pricing, raising the question of how that affects customer cost.
    • Competition-based pricing involves ceding critical price control aspects to competitors, presenting issues like price leadership, follow-up pricing, and discrepancies between declared and actual prices customers pay.

    Value Creation-Capture

    • Value-based pricing is presented as a method to assess how the value a customer gets from a product or service surpasses the cost and the price.
    • Different selling points like one-stop shop, breaking bulk, holding inventory, brokering information, and offering financial services are mentioned as factors for value creation.
    • The difference in profit and added value between the manufacturer, wholesaler, and retailer is shown.

    Product Trial: Cisco

    • Cisco's TelePresence product, high-end video conferencing.
    • The model attempts to replace face-to-face meetings and transportation costs.
    • A simulation of a 'boarding pass' is used for an event trial.

    Place/Channel

    • This section is dedicated to channels and their characteristics.

    Distribution Intensity

    • The different types of distribution include maximal intensity, selective intensity, exclusive distribution (only one type of retailer), geography, and ecommerce.

    Channel Conflict

    • There are descriptions of channel conflicts.
    • Cases such as the conflict between Intermarché and Coca-Cola.

    Price Level

    • This section compares different company prices to a standard.

    Third approach: Value-based pricing

    • Some examples are given that show how value-based pricing works.

    Customer Value

    • Customer value involves financial estimation of the economic, technical, service, and social benefit from a product or service, as well as the costs for an offering.

    Building a Customer Value Model

    • A systematic method of building customer value models is shown, outlining steps like listing value and price elements, evaluating points of parity, contention, and difference, creating a word equation for each relevant price/value element, creating a value model spreadsheet.

    Value models across segments

    • Models to compare value among different segments are presented.

    Value proposition (cf. Positioning)

    • The concept of a value proposition is shown in a graphic model.

    This is a broad summary of several sections from the presentation notes. Each section has subtopics which are not mentioned here, as they are part of the overall context of the presentation.

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    Description

    Test your understanding of communication media and the concept of customer value in pricing. This quiz explores various mediums of communication, their sensory cues, and their role in building relationships within organizations. Additionally, discover how to develop a customer value model and the implications of pricing strategies.

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