Cultural Marketing: Definitions & Concepts

Cultural Marketing - Introduction

• Focus is on product vs consumer orientation, and marketing within companies.

Definition of Marketing

• There are various definitions.
• Kotler defines marketing as the profitable satisfaction of needs, acting on consumer understanding.
• The American Marketing Associations defines marketing as creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society.
• Seth Godin defines marketing as helping someone solve a problem and helping others become who they seek to be.
• Steve Jobs says “Marketing is about values".
• Marketing affects consumer goods like toothpaste, services, cultural assets, politics, retail, restaurants Walmart and Amazon show business, information, investments, non-profits, and real estate.
• Marketing isn't just sales, advertising, or commercial activity; it is more than pushing unwanted items to customers. Communication is a marketing tool.

ESG Marketing

• Stands for Environmental, Social, Governance strategy.
• Companies use this strategy to improve environmental and social impact and align with consumer values by improving a business's approach to those topics.
• In Environment section the items considered: production process, packaging, ingredient sourcing, product disposal.
• In Social the items considered are fair salary, safety, Inclusivity and work/life balance.
• In Governance they consider turnover, margin, and typical business KPIs (key performance indicator).
• Social balance sheets focus on social and human capital aspects within organizations
• Greenwashing is when a company pretends to be environmentally friendly, but isn't in practice

Marketing Types

• Non-profit organizations compete to gain citizen attention.
• Generates awareness, funds, and position on issues.
• Political marketing is another type of marketing.
• Politicians compete for attention from voters, often using compelling subjects, achievements, and effective communication.

Sports Marketing

• Focuses on promoting sports, events, teams, athletes, products, and services, a market valued at over $487 billion.
• Two primary types are marketing of sports (major events, teams/players, leagues) and marketing through sports (leveraging athletes/teams to promote a brand).

Strategic Marketing

• Involves a long-term vision to differentiate an organization by focusing on strengths to provide better customer service and value.

Operational Marketing

• Includes actions to achieve short and medium-term results, primarily through tactics.

Demarketing

• Is designed to reduce product or service demand through production scarcity, promoting alternatives, social responsibility, or maintaining brand exclusivity.

Production vs Consumer orientation

• Production-oriented companies (like Henry Ford) focus on production and making products available and cheap, while consumer-oriented companies focus on accessing new products and market growth, aiming to "keep up with the Joneses."

Product-oriented Companies

• Focus on product innovations and differentiation.

Sales-oriented companies

• Push for high sales volumes at lower prices, focusing on sales and promotion.

Marketing-oriented Companies

• Focus on consumer needs and market research to meet those needs, offering new possibilities and keeping customers loyal. Sales are seller-based, while marketing is consumer-based.

Brand Manager

• Responsible for brand performance, manages marketing tools, monitors competition, maintains quality, audits consumers.

Succeeding in Marketing

• Requires answering consumer needs by being better, sooner, cheaper, more convenient, quicker, reliable, lasting, and having a better image, specially in markets where all firms have access to the same customer data

Criticism of Marketing

• Centered on pushing unnecessary purchases, overpromising benefits, exploiting vulnerabilities, and planning product obsolescence.

Additional Opinion

• Marketing is a consequence of competition, regulated by laws, and not inherently evil,

Lesson 2

• Discussion is focused on markets, consumers, competition, segmentation, and research.

Evaluating Market Share

• Important for defining market share, assessing growth potential, understanding consumer needs, positioning, and gaining inspiration
• Market share is calculated as total product sales divided by total market sales and is a key performance indicator.

Key Market Metrics

• Includes analysis of volume market share vs value market share

Share of Stomach measures

• How much of a consumer's food intake a company's products account for and share of wallet measures how much of a consumer's spending a company captures.

Marketing is about

• Differentiation between consumers, which leads to target consumer groups.
• Segmenting buyers based on demographics, behavior, and needs. Lifestyle Segmentation is achieved through cluster analysis.

Marketing Personas

• Depict typical target consumers but risk stereotyping. Need to evaluate based on context and demographics.

Consumer decisions

• Are influenced by economic trends, political stability, safety, future optimism, and geopolitical stability.

Qualitative vs. Quantitative research

• Qualitative research provides understanding through small samples and in-depth interviews, while quantitative research uses larger, statistically reliable samples to measure attitudes.

Market Research Bias

• Skews come from people not being available/honest, tending to please interviewers, being unaware of needs, or having wrong objectives.

Lesson 3

• The topics included: mktng mix, product management, definition of brand and innovation

Brand Manager

• Is responsible for brand performance, manages marketing tools, and understands consumer needs. Marketing tools include product, price, place (distribution), and promotion (Philip Kotler).

Key Definitions

• Brand, Fast Moving Consumer Goods (FMCG), commodities, private labels, durable products, and cultural assets. Understanding them is very important.
• Shrinkflation is reducing product size without changing the price.

Product lifecycle Strategies

• In the intro phase you need to: test the market, fine tune the product target, and leveraging its novelty.
• In growth the strategies are: communication, adv, public relations, generate trial and maintain the product awareness.
• In maturity you need to turn non users in users.
• For the decline disinvest and lower prices.

Product Innovation

• Can be done via Acquisition or creating a product development.
• Should follow the steps: Conception (idea generation/ idea evaliaation) -> Implementation (prototype)-> Market launch.

Rules for new products

• New products must do not cause the products to canibalizate and generate profit.

Lesson 4

• Where demand and supply reach EQUILIBRIUM to have a perfect price for stocks, comomodities and real state.

• Price determination is very difficult and it varies depending on:

  • Category / Market
  • production cost
  • Distribution cost
  • Consumer behavior
  • Product uniqueness
  • Product life cycle
  • Competion
  • Volumes
  • Economic context

• In general consumer are not 100% relational and has a perception of prices, and the prices is not the only motivator to purchase.

• Price elasticity means %change in quantity / % change in price.

• Price promotion is giving a quantity discount.

Distribution Channels

• Involve making the product available, offering assistance, and gathering consumer info. E-commerce focuses on niche products. Flagship stores give a brand experience. Distribution channels include direct to consumer and partnerships. Retailers and producers have complex relationships.

Omnichannel Distributuion

• To Reach consumers through multiple touchpoints, must efficiently manage pricing and channel margins, integrate data, allocate resources, and plan interactions..

More Definitions

• Trade, Shooper, Customer, marketing, and Communication

Moment Of thruth

• The product experience from initial touch, purchase, and post-usage, plus the pre-purchase information gathering stage.

Lesson 5

• Main objetives for adv: inform, persuade and remind.
• Adv is a Marketing tool.
• To have effective add its important to have a brief with the information (market, product, business to build a better customer engagement. Its mandatory to know:
  • Background
  • Objetives
  • Target
  • Consumer Insight
  • Consumer benefit
  • Budget and Media
  • measurements
  • Timing

Lesson 6

• Trademarks are rootet object but become competitors

Factors to Recognize Creativity in Ads

• Relevance, simplicity, target appeal, connectivity to objectives, brand equity, and newness.
• Disruption means that brands has a very big communication.
• The best is when creativity gets products/price inovation

Integrated Communication

• Consistent and seamless messages across media.

Guerilla Marketing

• Uses low-cost, unconventional means to promote ideas/products.

Branded Content

• Establishes relationships with consumers without direct commercial content.

Product Placement

• Involves placing products in movies or series for commercial use.

Lesson 7

• Mktg plan must support the company mission. and must the approved and validated of all functions.

To write a good mission/plan

• Evaluate well the objective and market and the company plan

Objectives

• In the future roadmap

Bosten Consuting Matrix method

• Evaluate the product potential to each podruct/brand

Red vs. Blue Oceans

• Red Oceans face high competition - lower prices. Blue Oceans create an environment of low competition. and higher consumer loyatly.

People are the most important

• People are motivated than what the market objectives are.

Employer Branding

• Is a way to create a value in it employees.

Important Factors

• Economic and career treatment. and communication

Marketing Plan contains

• The platforms the brand will use to reach it targeted population.

Advertising

• Involves informing, persuading, and reminding which creates consumer awarenss.

Positioning

• In the consumers minds.

Kpi"s

• Help to measure the outcomes through the business goals.

Lesson 8

• Topics about tecnology, climate and demographics
• AI wil influence marketing on many key Areas that are:
  • Personalazing
  • Predictive analytics
  • Costumes sevice
  • Conten Creation
  • Automation
  • Enhanced Targeting
  • Sentimental analysis
  • Visual Recognition
  • and Volcee serch

All of this things

• Enhance the data and create a stong strategu of business.

AI

• Can generate contents that help the communication but has a lot risks also
  • Alact of plagiarism
  • Low creativity
  • Issues of crerating
• UE its trying to regulate the Al.

Clima Change

• Its trying to regulate the new sustainability.

Natives / inmigres

• Its have the best communictaion about the product

Metaphories

• Its tring to communitcate very well and easy.

Lisson9

• Diference marketing and consumer
• The key of making the product great its the people who serving customers.

Customer Vs proucmers

• Customer more like to producer.

More roles in marketing

• Motivation, involvment and training. Its about internal and external marketing

Key factor

• "Partner" and well in the naming.

Ryanair

• Has a less stricts rules

Llesson 10

• Service needs to reach well quality

And tip

• Always exceed you expectations

Delivers

• Tech Key tips is to do to well this points.

Service must

• All for Amazon

Amazon

• Have all the easy returns with transparenc and also its all the team by you side.

More key factors is to

• Image the all for the brand. advocate , consumers and staff.

More in service factor

• Its the 11 lessoning

Lesso 11

• Cuetrual procut

Art

• From abstrat to figurative

Culture represent value and icon

• In any area.

Steps on the product

• 1 Target / 2 what does the customer need?
• To have more additional service

More key aspects

• Transporter , wellcome and the set up.

Ck

• Easy and fun

Norman-servive

• Is the best way to manage

Lesso 12

• Key on price

Its base by

• Comnismits wayy

Peopel not 100% ratinal

• And it depend and if it like that service

Picing

• Can abarrier in the purchase

Lesso 13

• Taylor swift way to play

Lesoo 14 culture

• Mutuale relation beetuwn marketing and cullture

Ads is bias

• View in the wright time.

Subcuture

• Is a way that cretear a way of think

Punk

• Disruptic

Cultral ICONS

• IS THE WAS THAT REPRESANTTHE ICON

Explore cultural marketing through various definitions, including those from Kotler, the American Marketing Association, Seth Godin, and Steve Jobs. Understand its broad impact across consumer goods, services, cultural assets, and more. Marketing is more than sales; it's about communication and values.