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 (B)</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 (A)</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 (C)</p> Signup and view all the answers

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

<p>Face-to-face communication (B)</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. (D)</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 (C)</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. (D)</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 (A)</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. (A)</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. (A)</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. (B)</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. (B)</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. (D)</p> Signup and view all the answers

Which phase comes first in the inbound marketing process?

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

What type of connections can users make in social networks?

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

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

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

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

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

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

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

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

<p>Negative Emotions (C)</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 (D)</p> Signup and view all the answers

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

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

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

<p>Surprise (C)</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 (C)</p> Signup and view all the answers

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

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

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

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

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

<p>A range of communication strategies (D)</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 (C)</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 (C)</p> Signup and view all the answers

What need does TelePresence primarily address in professional settings?

<p>Eliminating the need for physical meetings (C)</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. (C)</p> Signup and view all the answers

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

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

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

<p>They allow transaction completion. (A)</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 (D)</p> Signup and view all the answers

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

<p>High-end video conferencing solution (B)</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. (A)</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. (A)</p> Signup and view all the answers

What is a significant benefit of TelePresence for organizations?

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

Flashcards

Impersonal Communication Media

Communication methods that allow interactions with multiple receivers at once, often through mass media channels like TV or radio ads, with limited personal engagement. These methods don't allow for direct feedback.

Personal Communication Media

Communication methods focused on direct, personal interactions between individuals, like face-to-face conversations, phone calls, or emails, enabling feedback and dialogue.

Sensory Cues

The amount of sensory information conveyed through a communication medium. For example, a print advertisement provides text and images, while a face-to-face interaction allows for seeing, hearing, and feeling.

Few Sensory Cues

Communication methods that rely minimally on sensory cues like sight, sound, or touch. Examples include print ads or simple text messages.

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Many Sensory Cues

Communication methods rich in sensory cues, offering diverse experiences. Examples include video conferencing, 360° video ads, and holograms.

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Mixed Reality

A communication medium that combines real and virtual elements, creating a simulated world where users can interact with digital content. An example is virtual reality technology.

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Social Media

A communication method that uses online platforms for communication, interaction, and content sharing, like Facebook, Twitter, or Instagram, allowing for user-generated content and dialogue.

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User-Generated Content (UGC)

Content created and shared by users on social media platforms, contributing to the platform's content.

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Inbound Marketing

The process of attracting customers through engaging content, creating value, and building relationships instead of traditional marketing.

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Content Hub

A central online hub where a company publishes all its content, including blog posts, videos, articles, and ebooks.

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Viral Campaigns

The process of creating and spreading content that people naturally share, leading to wider exposure and reach.

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Wheel of Emotions

A model that categorizes emotions based on their intensity and valence, helping to understand emotional responses.

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Emotions that make campaigns go viral

Emotions like amazement and interest that tend to be present in content that goes viral, leading to wider sharing.

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Awareness

The goal of making potential customers aware of a product or service, often achieved through mass advertising.

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Interest

The goal of sparking interest in potential customers, encouraging them to learn more about a product or service.

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Evaluation

The stage where potential customers evaluate a product or service, comparing it to alternatives.

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Trial

The opportunity for potential customers to experience a product or service firsthand, often through trials or demos.

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Customer Value

The value a product holds for a customer, considering the economic, technical, service, and social benefits they receive, minus any costs associated with acquiring, using, and disposing of the product.

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Value-based Pricing

A pricing strategy that focuses on the value a customer gets from a product, rather than just the cost of production. This pricing method considers the customer's specific needs and how the product solves their problems.

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Value Calculator

A tool used to evaluate the value of a product by considering both the benefits (what the customer gets) and the costs (what the customer pays) associated with it.

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Customer Value Model

A model that helps companies understand the value they offer customers. It involves creating a comprehensive list of benefits and costs, identifying points of difference between their product and alternatives, and crafting a clear value proposition.

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Point of Parity

A characteristic of a product or service that makes it similar to the competitor's offering, resulting in a level playing field.

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Product Trial

A type of communication that allows customers to experience a product or service first hand, helping them make informed decisions.

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Loyal Customer Base

This refers to a business's dedication toward building lasting relationships with customers. It's about fostering loyalty and encouraging repeat purchases.

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Media

These are the platforms and methods used to reach and communicate with potential customers. They could be anything from traditional media like print ads and TV commercials to digital channels like social media and email marketing.

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Channels

Channels are more than just communication; they enable transactions. They are the pathways that lead to purchase and product delivery.

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Customer Relationship Management (CRM)

The way in which a business interacts with customers, focusing on building connections and understanding their needs.

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Customization

The process of tailoring products and services to meet the specific needs and preferences of individual customers.

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Agility

The ability of a company to quickly identify and respond to changes in the market, adapting its products and services to meet evolving customer needs.

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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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