Transcript Chapter 8 - Stephanie Larkin

Building a Powerful
Guerrilla Marketing
Plan
Chapter 8
Marketing
❖
the process of creating and delivering desired goods and
services to customers. Involves all of the activities
associated with winning and retaining loyal customers.
Guerrilla Marketing
Strategies
❖
Unconventional, low-cost, creative marketing strategies,
designed to give small companies an edge over their
larger, richer, more powerful rivals.
A Guerrilla Marketing Plan
should accomplish three
objectives:
❖
1. It should pinpoint the specific target markets the small
company will serve.
❖
2. It should determine customer needs and wants
through market research.
❖
3. It should analyze the firms’s competitive advantages
and build a guerrilla marketing strategy around them
Pinpointing the Target
Market
❖
One of the first steps in building a guerrilla marketing plan
is to identify a small company’s target market –the
specific group of customers at whom the company aims
its goods or services. The more a business knows about
its local markets and its customers and their buying
habits and preferences, the more precisely it can focus its
marketing efforts on the group(s) of customers who are
most likely to buy its products or services.
Determining Customer
Needs and Wants through
Market Research
❖
Market Research.. the vehicle for gathering the
information that serves in the foundation for the
marketing plan, it involves systematically collecting,
analyzing and interpreting data pertaining to a company’s
market, customers, and competitors.
❖
How to conduct Market
Research:
Step 1. Define the objective.
❖
Step 2. Collect the data
❖
Primary Research: Customer Surveys & Questionnaires, Focus Groups,
Social Media conversations & monitoring, Test Market, Daily Transactions,
Other Ideas
❖
Secondary Research: Business Directories, Direct mail Lists, Demographic
data, Census Data, Forecasts
❖
Step 3. Analyze and Interpret Data
❖
Step 4. Draw Conclusions and Act
Plotting a Guerrilla
Marketing Strategy
❖
Building a Competitive Edge
❖
Guerilla Marketing principles: The following 14 principles
can help business owners create powerful, effective
guerilla marketing strategies:
Guerilla Marketing
Principles p.1
❖
Find a Niche and Fill It.
❖
Use the Power of Publicity. Publicity is any commercial
news covered by the media that boosts sales but for
which a small company does not pay.
❖
Strive to be Unique.
Guerilla Marketing
Principles p.2
❖
Build a community with customers
❖
Connect with customers on an emotional level
❖
Create an identity for your business through branding.
❖
Embrace Social Marketing
Guerilla Marketing
Principles p.3
❖
Don’t just Sell, Entertain …Create Online Videos, Host a
Special Event
❖
Dedication to Service and Customer Satisfaction
❖
Retain Existing Customers
Guerilla Marketing
Principles p.4
❖
Be devoted to Quality
❖
Attention to Convenience.
❖
Concentration on Innovation
❖
Emphasis on Speed
Terms to Know
❖
Customer Experience Management – the process of
systematically creating the optimum experience for
customers every time they interact with the company.
❖
Total Quality Management (TQM) - The philosophy of
producing a high-quality product or service and achieving
quality in every aspect of the business and its relationship
with the customer, the focus is on continuous
improvement in the quality delivered to customers.
Terms to Know
❖
Time Compression Management (TCM) – A marketing
strategy that relies on three principles:
❖
Speeding Products to market
❖
Shortening Customer response time in manufacturing
and delivery
❖
Reducing the administrative time required to fill an order.