Transcript Working with American Express

MARKETING
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The Chartered Institute of Marketing
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World’s largest body of professional marketers
Over 35,000 members
Learning
Networking
Career development
www.cim.co.uk
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Bob Hogg
Past career
• Former employers: Beecham, Unilever
• Prontaprint franchisee 1980-1997
• Regional Director, UK Marketing Director
Current
• Pointer Marketing (sole trader)
• Partner, Marketing Ability LLP
• Level Senior Examiner, CIM
MARKETING = ?
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Definition
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Future sales
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Responsibility of
whole company
The management process responsible for
identifying, anticipating and satisfying
customer requirements profitably.
Understanding
what they value
Now
Needs
Sustainable
The Chartered Institute of Marketing, 2010
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A three word definition
S atisfying
C ustomers
P rofitably
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Understanding customers
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Putting together the customer offer
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Communicating with customers
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Jargon
7 Ps
AIDA
Boston Consulting Group matrix
Brand positioning map
Customer Lifetime Value
Ansoff growth strategy matrix
Loyalty ladder
PESTLE
Porter’s Five Forces
Product Life Cycle
Segmentation, Targeting and Positioning
SOSTIC (Situation, Objectives, Strategy, Tactics, Implementation, Control)
USP
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Marketing Planning
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Marketing Planning
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Marketing Planning
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Marketing Planning
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Marketing Planning
DO WE KNOW OUR
CUSTOMERS?
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Decision making process
Individual influences
Psychological
factors:
Group influences
Recognition of problem
• Motivation
• Reference groups:
• Attitudes
• Learning
• Social class
• Family groups
• Beliefs
• Perceptions
• Cultural groups
Search for information
Membership
Aspirant
Dissociative
• D.M.U’s
Evaluation of alternatives
Environmental
influences
Purchase decision
Marketing Mix
influences
• Social/cultural
• Product
• Technological
• Place
• Economic
• Price
• Ecological
• Political
• Legal
• Ethical
Post-purchase evaluation
• Promotion
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• People
• Process
• Physical evidence
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Customers
Are all customers the same?
Are they all looking for the same thing?
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Segmentation
Segmentation is the process of breaking the market into
smaller groups of people who exhibit similar needs.
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Why segment?
1. Better matching of customer needs
2. Targeted communications
3. Retention of customers
4. Enhanced opportunities for growth
5. Enhanced profits
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Bases for segmentation
1. Geographic
2. Demographic
3. Geo-demographic
4. Psychographic (Lifestyle; AIO analysis)
5. Behaviour (esp. benefits sought)
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Behavioural segmentation
Instead of focusing purely on customer characteristics,
considers the relationship between customer and product
using variables such as:
1.
2.
3.
4.
Usage rate of product
End use of product
Loyalty towards product
Benefits sought from product
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Segmentation
Think about the “benefits sought” as the
problem the customer has that leads them to
think about ordering print...
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Who are your customers ?
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Get to know your customers
Gather data
Analyse your findings
Profile your customers into groups
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The 5 Ls Model
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Products / Customers
Customers / Markets
Existing
New
Products / Services
Existing
New
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Products / Customers
Product
Customers
Existing
Same
Similar
Sideways
Existing
Tweaked
Twisted
Twinkle
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Products / Customers
Product
Existing
Tweaked
Customers
Existing
1
2
3
Same
Similar
Sideways
A
B
C
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D
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Twisted
Twinkle
DO WE HAVE THE RIGHT
OFFERING?
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The customer offering
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7 Ps
Product
Place
Price
Process
People
Physical evidence
Promotion
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Anatomy of a product
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Place
How easy is it for your
customer to access your
product/service?
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Price
£0.20
£0.31
£0.38
£0.53
What can you add to your offering that the
customer values more than it costs you?
£0.61
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Process
Order processes
Sales service
After sales service
Regular communication
Complaint handling
Think about the “customer journey”
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People
Do ALL of your people reflect the
quality of your service offering?
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Physical evidence
Does everything the customer
sees about you reflect the
image you are trying to
present?
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Promotion
Advertising
Public relations
Sales promotion
Direct marketing
Personal selling
…it’s all about communication
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The communication process
Noise
Encoding
Sender
Message
Decoding
Medium
Noise
Noise
Feedback
Receiver
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Building your promotion mix
• Which segment are you targeting?
• What message do you want to
convey?
• How should you phrase it so that
they understand?
• Which media are relevant for your
target audience?
• How can you build in feedback?
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Three questions to leave you with…
• Do you REALLY understand your customers?
• Does your offering solve their REAL problem?
• Do you communicate in language that they REALLY
understand?
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Because getting real…
…creates real competitive advantage