Marketing - The 5 Ways to Growth
•
4 recomendaciones•1,158 vistas
This presentation focuses on the creative application and careful integration of the key marketing fundamentals many companies (large and small) neglect in their strategic and tactical planning. As exciting new tactics such as Social Media take center stage, it is critical to carefully identify market segments, understand audience desires, and align differentiation strategies with resonating value propositions to increase lead generation and conversation rates, expand market share, and achieve maximum profit at minimum cost.
![Our Agenda For Today ,[object Object]](data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7)
Recomendados
Más contenido relacionado
Destacado
Destacado (17)
Último
Último (20)
Marketing - The 5 Ways to Growth
- 1. Marketing The 5 Ways To Growth Lawrence Kirsch Faculty Member Senior Consultant 1
- 5. Tactics2
- 6. What Is Marketing? Understanding the wants and needs of a target market developing and implementing a strategy to introduce, build awareness of, and promote the product or service to this target. 3
- 7. 5 Ways To Grow Increase the business you receive from past and current customers. 4
- 8. 5 Ways To Grow Increase the number of prospects within your current markets 5
- 9. 5 Ways To Grow Increase your conversation rate of prospects to paying customers. 6
- 10. 5 Ways To Grow Increase the product and service offerings to your current markets. 7
- 11. 5 Ways To Grow Increase your exposure to new and different markets. 8
- 14. Your Target Market 11
- 16. What are their needs and wants?
- 17. What do they look like?
- 18. Where are they typically located?
- 19. What other goods and services do they purchase?12
- 20. Differentiation The process of distinguishing the differences of a product or offering from others, to make it more attractive to a particular target market. This involves differentiating it from competitors' products as well as one's own product offerings. 13
- 21. Differentiation To communicate the product’s differentiation, companies turned to the Unique Selling Proposition or USP. 14
- 22. Differentiation To be successful in business – you must clearly differentiate your company from the competition. Otherwise…you’re just plain old WHITE RICE! 15
- 24. Differentiation - USP Toothpaste in 1955 17
- 25. Differentiation - USP Toothpaste in 1958 CompanyMarket SectorMarket Share ColgateCosmetic34.5% P&GCosmetic20.5% UnileverCosmetic11.2% P&G Therapeutic8.8% UnileverCosmetic3.4% 18
- 26. Differentiation - USP Toothpaste: By 1962 – Crest ended Colgate’s 19 year reign as the leader. Crest share – over 30%. In 1964 – The ADA seal was approved for the Crest package. By 1969 – Crest share was nearly 40%. 19
- 27. Your Unique Selling Proposition – USP How you differentiate your company is important! What you say & do must resonate with your target market! 20
- 28. Your Unique Selling Proposition – USP It Starts With A Tag-Line – But it’s more. It’s everything you say & do to support your key differentiating points. 21
- 29. Your Unique Selling Proposition – USP Starbucks “We’re everywhere you are.” “Purveyor of the finest coffee in the world” “A cool place to sit and be seen while you drink coffee.” 22
- 30. Your Unique Selling Proposition – USP Starbucks “We’re everywhere you are.” “Purveyor of the finest coffee in the world” “A cool place to sit and be seen while you drink coffee.” 23
- 31. Your Unique Selling Proposition – USP South Coast Medical – Training for Medical Professionals “The Leader in Medical Training ” “Quality Training - Affordable Prices” “Expert Instruction - Hands-On Training” 24
- 32. Your Unique Selling Proposition – USP South Coast Medical – Training for Medical Professionals C. “Expert Instruction - Hands-On Training” Research showed - Customers wanted plenty of hands-on training with an expert in the field. 25
- 33. Your Unique Selling Proposition – USP How To Develop Your USP! Survey owners & staff. Survey your past & current customers. Analyze your competition – what are they saying & doing? 26
- 34. Your Unique Selling Proposition – USP Conducting The Survey! Survey owners & staff. Handout: Sample Questions For Owners & Staff 27
- 35. Your Unique Selling Proposition – USP Conducting The Survey! Survey past & current customers. Handout: Sample Questions For Customers 28
- 36. Your Unique Selling Proposition – USP Analyze Your Competition! Website – Look For Positioning Words & Ways They Differentiate. Review Advertisements. Call The Companies. Call Their Customers. 29
- 37. Your Unique Selling Proposition – USP Analyze Your Market(s)! Where are the voids in the Marketplace – Elements that are important to your customers but not being promoted by anyone! 30
- 38. Your Unique Selling Proposition – USP Pulling It All Together! It Must Differentiate Your Products & Services! It Must Resonate With Your Audience! It Must Be Doable By You! 31
- 39. Your Unique Selling Proposition – USP Pulling It All Together! Handout: Sample Unique Selling Propositions 32
- 40. Your Unique Selling Proposition – USP Handout: Your Unique Selling Proposition 3 things your company does well! 3 reasons why your customers buy from you! 3 areas where your company could imp This is a start! Do the research! 33
- 41. Perceived Value It is not what the organization feels is valuable or important, but what the Prospect or Customer thinks or feels. 34
- 42. Perceived Value How To Increase Perceived Value? Packaging 35
- 43. Perceived Value How To Increase Perceived Value? Be Exclusive 36
- 44. Perceived Value How To Increase Perceived Value? Raise Prices 37
- 45. Perceived Value How To Increase Perceived Value? Make it Bigger 38
- 46. Perceived Value How To Increase Perceived Value? Bundled Products 39
- 47. Market Segmentation The process of splitting customers, or potential customers, in a market into different groups, or segments, within which customers share a similar level of interest in the same or comparable set of needs satisfied by a distinct marketing proposition. 40
- 48. Market Segmentation Proctor & Gamble – Laundry Detergent They Segment & Position Each Product 41
- 49. Market Segmentation Proctor & Gamble – Laundry Detergent Cheer® helps protect against fading, color transfer and fabric wear in powder or liquid, with or without bleach. 42
- 50. Market Segmentation Proctor & Gamble – Laundry Detergent Dreft® is a specially formulated detergent that rinses out thoroughly, leaving clothes soft next to a baby's skin. Dreft has been the No. 1 choice of pediatricians for years. 43
- 51. Market Segmentation Proctor & Gamble – Laundry Detergent 44 Era® is a powerful laundry detergent that is tough on stains.
- 52. Market Segmentation Proctor & Gamble – Laundry Detergent Gain® laundry detergent and fabric softener provide excellent cleaning power and a smell that says clean. 45
- 53. Market Segmentation Proctor & Gamble – Laundry Detergent Ivory Snow® - Mild cleansing benefits for a gentle, pure and simple clean. 46
- 54. Market Segmentation Proctor & Gamble – Laundry Detergent Tide® - Fabric cleaning and care at its best. 47
- 56. Marketing Tactics Identify Tactics that will support your grow in all 5 ways. The selection of Tactics depends on… Where you want to grow? The Target Audience The Message to be delivered The Budget available 49
- 57. 5 Ways To Grow Increase the business you receive from past and current customers. Increase the number of prospects within your current markets. Increase your conversation rate of prospects to paying customers. Increase the product and service offerings to your current markets. Increase your exposure to new and different markets. 50
- 58. Marketing Tactics Advertising – Some Rules Pay attention to both the Message & the Media used Use the “Big Idea” – the key benefits sought by the Target Audience Create a memorable advertisement Often used to “Build Awareness!” 51
- 59. Marketing Tactics Advertising - Television Attention getting High market coverage Great at demonstrating products Can target specific markets Also – Expensive / short viewing / poor at communicating a lot of information. 52
- 60. Marketing Tactics Advertising - Newspapers Has a relatively long shelf-life (at least a day) Can target specific markets Reasonable level of coverage Also – static (not good for demo) / Potential for poor reproduction / Ad can be lost in a sea of ads 53
- 61. Marketing Tactics Advertising - Newspapers 54
- 62. Marketing Tactics Advertising - Radio Mass use – in cars Strong geographic / demographic reach Can target with selected programs Also – audio communication only/ short shelf span / low attention levels versus TV 55
- 63. Marketing Tactics Advertising - Magazines High quality reproduction – color Can target with specific publications Has a long shelf life (weeks / months) Can be passed on to others Also - static (not good for demo) / no control of placement in magazine / long lead times 56
- 64. Marketing Tactics Advertising - Outdoor High repeat exposure to advertisement Relatively low cost Minimal competition (low clutter) Also – limited audience / not easy to target / static / difficult to measure / potential damage – weather, etc. 57
- 65. Marketing Tactics Direct Mail Can target specific audience Easy to track response rates Can test promotions prior to full commitment (response rates) Also – considered “junk mail” / lots of direct mail / relatively high cost per contact / difficult to obtain accurate mailing list 58
- 66. Marketing Tactics Email Marketing Relatively easy to do Can be created fast Easy to store the information Cost effective for ongoing communications with your prospects & customers Also – impersonal / can be over used / can be lost in the noise of other emails 59
- 67. Marketing Tactics Trade Shows Extend brand awareness Network with peers, customers, prospects Launch products with a splash Capture leads – make sales Also – expensive / may be poorly promoted and not well attended 60
- 68. Marketing Tactics Publicity Provides instant credibility - implied third party endorsement It is Free - you don’t pay for the placement of your piece Also – Have no control over placement / may not be as positive as you hoped 61
- 70. Maintaining…
- 71. Enhancing……customer relationships Focus on the goal of winning continued patronage and loyalty. 62
- 72. Customer Service: Why do customers leave? 4 %Really don’t know why they left. 5 %Left due to friendships with people at other companies. 9 %Left because we were outsold (lower price / better program) by the competition. 14 %Left because they were dissatisfied with product or performance. 68 % Left due to the indifference of employees. Relationship Marketing 63
- 73. The Nature of People We want to do business with people we… Know Like Trust 64
- 75. Blogs
- 76. Microblogging
- 77. Video / Photo Sharing
- 78. Message Boards
- 79. Social Gaming
- 80. Podcasts
- 81. Real Simple Syndication (RSS)65
- 82. Three Main Sites 66
- 83. Blog Is The Centerpiece 67
- 84. Blogging Facts Search Engine Friendly (SEO) Dialogue with your Customers Hear Customer Feedback Communicate with blogging community Allows for distribution via RSS Facilitates both Push & Pull content interaction 68
- 85. Social Media Examples 69
- 86. Social Media Examples 70
- 87. Social Media Examples 71
- 88. Social Media Examples 72
- 89. Social Media Examples 73
- 90. Social Media Examples 74
- 91. Social Media Roadmap First Step – Know Your Audience Create A Strategy – Integrate With Marketing Commit Resources & Time Don’t Be Afraid 75
- 94. The 4 P’s of Marketing
- 95. Differentiation
- 96. Perceived Value
- 99. Social Media
- 101. 77 Companies that apply the fundamentals of marketing will communicate more effectively to the right audiences, build loyalty, and outdistance the competition
Notas del editor
- Understanding the Basics of Marketing
- The Fundamentals of MarketingDefine MarketingMarket ResearchThe 4 P’s of MarketingDifferentiationPerceived ValuePositioningMarket SegmentationChannel of DistributionPricing Marketing TacticsSocial MediaRelationship MarketingLife Cycles
- What is marketing?It is about understanding the wants and needs of a target market and developing and implementing a strategy to introduce, build awareness of, and promote the product or service to this target.
- The 4 P’s of Marketing – or the Marketing Mix.The “C” stands for Customer. All elements of the marketing mix revolve around the customer and must be “customer centric.”And your customer is considered to be your Target Market.
- What is a target market? It is the market that is “most likely” to purchase your goods and services.You need to understand what your target market wants and needs. You need to build out a profile of them. So you know who they are and what they look like – eventually, you will be looking for more of them.
- To build out a profile of your target market, you need to answer a number of questions. When you know what they look like, it will make it easier to find them.
- From Wikipedia.org - Differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of your product and create a sense of value. Differentiation is a source of competitive advantage. However, for the differentiation to matter, it must resonate with the target market. This is Key.Differentiation ties into Positioning.
- From Wikipedia.org. In the early 1940s, Ted Bates & Company carried out extensive market research on successful advertising campaigns. In particular they identified two desirable attributes: the penetration and the usage pull.A common mistake is to use price reduction as a USP. This is probably the easiest and possibly the costliest of approaches.A USP must do the following:Each advertisement must make a proposition to the consumer. Not just words, not just product puffery, not just show-window advertising. Each advertisement must say to each reader: "Buy this product, and you will get this specific benefit." The proposition must be one that the competition either cannot, or does not, offer. It must be unique—either a uniqueness of the brand or a claim not otherwise made in that particular field of advertising. The proposition must be so strong that it can pull over new customers to your product.
- Crest is Procter & Gamble's popular toothpaste that was first introduced to consumers in 1955. It was positioned as a Therapeutic brand – not a cosmetic brand – as the other toothpastes were. Crest was the first fluoride toothpaste clinically proven to be effective in preventing cavities and tooth decay.
- During the mid 1950s, Crest struggled to hold on to less than 10% market share. All other toothpastes were marketed as a cosmetic product. But not Crest – they had promising clinical results showing some therapeutic benefit – fighting cavities.(Harvard Business School - Working Knowledge)
- In 1960, Crest would dominate toothpaste sales for thirty years. What changed? P&G spent big to make Crest a therapeutic as well as a cosmetic product, and the endorsement of the American Dental Association shot Crest into orbit. The endorsement: Crest is an "effective decay-preventive dentifrice that can be of significant value."In 1960 Crest was given a "category B" endorsement by the ADA, indicating a reasonable level of effectiveness in preventing tooth decay. This was enough to set it apart from all other toothpastes on the market and to convince many consumers that its therapeutic claims were genuine. Within two years, Crest's market share had leapt to over 30 percent, making it the new market leader. By 1969 – their market share was nearly 40%.
- Perceived Value – It is the perception of Value held by the Prospect or Customer. What marketers do is to elevate the perceived value of the target market for the product.There a many ways to do this.
- Packaging – PerfumeOn the left - Caron's Poivre: $2,000 (2oz) To the right - Hermès' 24 Faubourg: $1,500 (1oz)
- Limit the quantity available. Make the product a status symbol. The desire for status is one of the key emotional sales triggers.
- Local Bakery made delicious tasting, beautiful Wedding Cakes. Bakery didn’t sell as many wedding cakes as they felt they should.They did research – they found their price was about 25% less then the surrounding competition. In the Wedding business – customers expect to spend money – an lots of it: The Wedding Gown, Photographer, Hall, Invitations, Caterer, Cake, Gifts, etc.People would come in to sample the wedding cakes - Looks great, tastes great, low price??? – what’s wrong with this picture?If your product’s value goes against their beliefs, they won’t buy it.So, the bakery raised their prices – to match what people expected – “a high price.” Unit sales increased by about 30 %.
- We use to get small muffins for a $1.00.Now they are huge and sell for $2.00 – or more.
- Apple ran a promotion from May 28, 2009 to September 8, 2009. College students, as well as faculty and education staff, could get a free iPod Touch with the purchase of a new Mac. By bundling, you increase the perceived value of the overall purchase.A hamburger, French fries and a drink – the classic fast food bundle.
- Market Segmentation definition.From: http://www.marketsegmentation.co.uk/segmentation_tmsc.htmNote: A “Niche” is a more narrowly defined group – typically a small market whose needs are not well served. Kotler, 2000.
- Proctor & Gamble has developed and marketed detergents with specific characteristics to meet the needs of unique market segments.
- Cheer® helps protect against fading, color transfer and fabric wear in powder or liquid, with or without bleach.
- Dreft® is a specially formulated detergent that rinses out thoroughly, leaving clothes soft next to a baby's skin. Dreft has been the No. 1 choice of pediatricians for years.
- Era® is a powerful laundry detergent that is tough on stains.
- Gain® laundry detergent and fabric softener provide excellent cleaning power and a smell that says clean.
- Ivory Snow® - Mild cleansing benefits for a gentle, pure and simple clean.
- Tide® - Fabric cleaning and care at its best.
- Marketing TacticsTelevision, Radio, Trade Shows, Trade Publications, Newspapers, Online Advertising, Social Media, Email Marketing, Publicity, Outdoor billboards, etc.
- Marketing TacticsThe selection of your tactics is determined by a number of elements:The Target Audience(s)The message to be deliveredThe budget available to the marketing department.
- Advertising:To develop an advertising strategy, consideration must be made to both the message and the media used.With emphasis on creating memorable advertising.Source: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Advertising - Television:Strengths:Dynamic attention getting media, combining visual, sound and animated stimulus Strong potential Impact & High market coverage Good at demonstrating products Enabling targeting through selection of viewing channels and slots between specific programsWeaknesses:High level of initial expenditure required ‘Now you see it, Now you don’t’ media, in that commercials are on the screen and gone within seconds Poor at communicating lengthy technical information Source: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Advertising-Newspapers:Strengths:The coffee table effect – ad can be referred back to several times Targeting is possible through profiling readership Good level of market coverage Weaknesses:Static media, not suitable for product demonstration Potential for poor reproduction, sometimes limited to black and white print Possibility of an individual ad being lost on a page of many adsShort-life span, i.e. todays newspapers become tomorrows trashSource: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Advertising-Newspapers:Sample black and white ad – static / not great qualityWith a discount, tie the advertisement with a promotional element (to motivate purchase).Source: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Advertising-Radio:Strengths:Mass use of radio by audience, particularly in cars on the way to work and home High geographic and demographic reach Targeting is possible through selection of channel and programsWeaknesses:Audio communication only Now you hear it, Now you don’t Lower attention levels than television from the audience Source: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Advertising-Magazines:Strengths:High quality reproduction, of color images Targeting is possible through specialist publications Coffee table effect – advert can be referred back to Good pass on readershipWeaknesses:Static media, not suitable for product demonstration Control of the positioning of adverts is often under the control of magazine editor, rather than the sponsor Lengthy lead-time between advert being placed and magazine being published Source: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Advertising-Outdoor:Strengths:High repeat exposure to as Relatively low cost Low levels of competition, in terms of advertising clutter Weaknesses:Limited audience selectivity / targeting possible Static media, not suitable for product demonstrations Difficult to monitor effectiveness Potential for damage, via weather and graffiti Source: www.Examstutor.comhttp://www.examstutor.com/business/resources/studyroom/marketing/advertising/3-advertisingstrategy.php?style=
- Direct Mail:Strengths:Can target specific audienceEasy to track response ratesCan test promotions prior to full commitmentPostcards are an cost-effective way to send direct mail Weaknesses:Can be considered “junk mail” Competing with lots of other direct mailrelatively high cost per contactdifficult to obtain accurate mailing listSource: http://www.websitemarketingplan.com/small_business/directmail.htm
- Direct Mail:Strengths:Relatively easy to doCan be created fastRelatively cheap to sendEasy to store the informationWeaknesses:Impersonalcan be over usedcan be lost in the noise of other emailsSource: http://www.mcfedries.com/Ramblings/email-pros-cons.asp
- Trade Shows / Conventions:Strengths:extend brand awarenessparticipate in networking with industry peers, customers and prospectsmake a bigger splash when launching new productscapture leads and, in some cases, close salesWeaknesses:Can be very expensive – booth rental / travel / hotel / mealsMay not be very well attended by the industry (poor promotion / targeting)Source: http://lyrishq.lyris.com/index.php/Blog/The-Pros-Cons-of-Trade-Show-Lead-Capture.html
- Publicity:Strengths:Providesinstant credibility because of the implied third party endorsementIt is Free (you don’t pay for the placement of your piece)Weaknesses:Don’t have any control over whether or not your piece will be includedThe press may not be as positive as you had hopedSource: http://www.articlesbase.com/advertising-articles/tv-publicity-the-pros-and-the-cons-433313.html
- Relationship Marketing.It is about…Attracting, Maintaining, and Enhancing customer relationships.The goal is to win continued patronage and loyalty.
- Relationship MarketingThis chart shows why customers leave a business.The lesson here is that 68% left due to the indifference of the employees.
- We do business with people that we Know, Like, and Trust. Social Media helps people to get to know you, and like you, and trust you. That is when they will buy from you, and talk favorably about the process and experience.
- Social media is revolutionizing the way businesses large and small communicate both internally and externally and how they market their services and build their brands.Source: Social Media Magic.
- The Top Three Social Media Sites – but positions change rapidly. Source: Social Media Magic.
- Your Blog is the centerpiece of your social media tactical strategy.
- Here are the fact about Blogging.Source???Definition:RSS – Really Simply Syndication
- Social media is revolutionizing the way businesses large and small communicate both internally and externally and how they market their services and build their brands.The Website has photos of people, access to social media account, telling a social story.One example of a small-business success story using social media is CoffeeGroundz Café, a Houston coffee shop that claims to have doubled its clientele since joining Twitter (@coffeegroundz). Customers sitting in CoffeeGroundzcan order food and drinks from their tables using Twitter, without going to the counter. Busy drivers can even place “to go” orders from the car on Twitter. CoffeeGroundz Café understands the power of social media to build community. Source: Social media's uses continue to grow in PR, marketingBy By Dave Hogan, APR AbileneBiz contributorThursday, October 22, 2009
- CoffeeGroundz Café – Houston, TX.On Twitter, people are talking about them. (@coffeegroundz) And CoffeeGroundz is responding to MickeyBryant.The café has hosted parties (called Tweetups) for its Twitter customers, and a recent one attracted nearly 100 people.
- CoffeeGroundz Café – Houston, TX.On Facebook. They have 1,243 fans.
- CoffeeGroundz Café – Houston, TX.Linkedin: Both the General Manager, and the Owner are on Linkedin.
- CoffeeGroundz Café – Houston, TX.On Youtube: They interview representatives of local charity groups and other interesting folks – and upload to Youtube.Skip Potts is interviewed at a Houston Coffee shop by J.R. Cohen and Sean Stoner. They talk about the Walk Across America.
- CoffeeGroundz Café – Houston, TX.Yelp -
- Begin with Knowing your audienceCreate a strategy that ties in with your marketing – your objectives and goals\\Be prepared to commit some time and resourcesTry not to be afraid – genuinely reach out reach out – you’ll be pleased with the results.Source: TopRank Online Marketing – 2009
- Let’s review today’s presentation:What is Marketing?Importance of ResearchThe 4 P’s of MarketingDifferentiationPerceived ValuePositioningMarket SegmentationChannel of DistributionPricing Marketing TacticsSocial MediaRelationship MarketingLife Cycles
- Source: TopRank Online Marketing