Transcript Marketing Management

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MARKETING MANAGEMENT
THE MARKETING PROCESS
Ron Padavich
Director
Strategic Marketing Services / University of Northern Iowa
Marketing Management
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What is Marketing Management?
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What Is Marketing Management?
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The process of planning and executing the
conception, pricing, promotion, and distribution of
ideas, goods, and services that satisfy individual and
organizational objectives.
It is the entire organization and a product or service
from conception to the end of its useful life!
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What is Marketing?
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The process of creating customers for your
product/service.
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How Do You Increase Market Size?
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Sell more to current customers
Sell new products/services to current customers
Find new customers for current offerings
Offer new products/services to new customers
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Today’s Discussion
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Marketing Management at SMS
Strategic Planning
Market Research
New Technology – Eye Tracking
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MARKETING MANAGEMENT
OF SMS
THE MARKETING PROCESS
Ron Padavich
Director
Strategic Marketing Services / University of Northern Iowa
Who We Are
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Self-supporting, Fee-based University enterprise
Started in 1990
Five professional market researchers
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What We Do
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Market Research
Marketing Strategies
Strategic Planning
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Who We Serve
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For Profit Businesses
 Entrepreneurs
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Fortune 500 Companies
Non-profit Organizations
Government Agencies
Economic Development Corporations
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Strategic Marketing Services
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Over 300 clients in diverse markets
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Alliant Energy
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Cummins/Onan
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Riverside Publishing
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Avery-Dennison
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Ecolab
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Siemens Industries
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American Tool
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John Deere
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Bausch & Lomb
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Johnson & Johnson
The Nature
Conservancy
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Cargill
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Kimball International
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Yellow Freight
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Century 21
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Lincoln Savings Bank
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CNS-BreatheRight®
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Maytag Appliances
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Wheaton Franciscan
Healthcare
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Mercury Marine
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Nissan Industrial
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Our Team
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Director – Over 20 Years
Senior Program Manager – Over 20 years
Program Managers (3) – 2, 14 & 15 years
Students
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Core Competencies
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Market Characterization, Segmentation &
Positioning
New Product/Service Development
Customer Satisfaction/Loyalty
Competitive Intelligence
Strategic Opportunity Assessments (Market penetration,
market development, product development, diversification)
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Strategic Planning
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Methodologies
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Surveys (Phone, Online, Mail)
Research Panels
Facilitated Planning Sessions/Discussion Groups
Focus Groups (Online or In-person)
In-depth Interviews
Eye Tracking Technology
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Types of Projects
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Attitudinal
Brand Awareness
Voice of the Customer
Concept Testing
Product Configuration
Competitive Intelligence
Pricing
Prototype Evaluations
Go-To-Market Advertising/Communications
Insight Generation, Ideation, Workshop Facilitation
Technology Adoption
Channel Evaluation
Strategic Thinking
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SMS MARKETING
HOW WE MANAGE THE PROCESS
What Makes Us Different
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Small Boutique Firm
Motivated by quality over quantity
 Performance over profit
 Full client pipeline – Pick and Choose
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Access to UNI Intellectual Capital
Higher Response Rates – University Affiliation
University Credibility
Student Opportunities
Access to Incentive Funds
Qualify for Grants (Iowa Energy Center, Power Fund, etc.)
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Our Challenges
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Small – Fill up fast
University Tie Perceptions
Free
 Student Program
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Competition
Name Brand Firms
 Global Players
 Low Price Providers
Client Personnel Changes
Long Sales Cycle
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Pricing Strategies
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Clients Outside Iowa: Cost +
Iowa Clients: Cost + Minus Incentive
Iowa Grants: Cost
Federal Grants: Cost and allowed overhead
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Marketing/Sales Strategy
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Past: Out-Bound - Sales
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Cold Phone Calls
Sales Trips
General Trade Shows
Advertising-Publications
Referrals
Trade Listings
Internet Non-existent
Present: In-Bound - Marketing
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Warm Phone Calls
No Sales Trips
Select Trade Shows
No Advertising
Referrals
Trade Listings
Internet Mktg. - HubSpot
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SMS MARKETING SALES
STRATEGY
Typical MR Sales Process
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Awareness- It exists
Education – What can it do?
Benefits
Convince of the need
Budget – Do they have one?
Get them to agree to spend the money
Keep them focused
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SMS Primary Target Market
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Large U.S. companies who do market research on a
regular basis, do so because they:
 Understand
it
 Value
it
 Know what to expect
 Know what it costs
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SMS Secondary Market
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Iowa Companies (Required)
 Hard
Sell
 No
MR experience
 Don’t want to spend money
 Prefer trial and error
 Difficult to get them from awareness stage to project
 Incentives have limited impact
 SMS spends lots of time for small return
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SMS Third Market
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Grants
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desired
 Time
investment to respond to RFP
 Competing against other non-profits
 Not profitable – pay low, expect a lot
 Long time-frame
 RFP does not reflect total expectations
 Reporting requirements
 Difficult to break even
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Things We Watch For
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Unsolicited RFPs/Inquiries
 Price
Shoppers
 Window Shoppers- DIY
 Keeping other supplier honest
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Qualifying the Prospect
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How did you find out about us?
Why did you choose to call us?
Have you done market research before?
 How
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often, with who, and why not using them now?
Do you have a budget allocated for the project?
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SMS SUMMARY
SMS Mission Statement
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SMS is a boutique market research firm that employs
a small staff of highly skilled, dedicated researchers
who expertly serves the needs of a select group of
forward looking clients. We value quality over
quantity. For us, nothing is more invigorating than
seeing our clients use the market intelligence we
provide in successful ways.
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Our Approach
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What is the client trying to achieve?
What information do they need?
Who has the information?
What is the best methodology to get the
information?
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MARKETING
Marketing
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The primary purpose of a business is to sell a product
or service!
All types and sizes of businesses share one thing in
common – the need to secure ready, willing and able
customers!
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Marketing Vs. Selling
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Marketing – Focuses on the buyer. What needs do
you have and how can I help you?
Selling – Focuses on the seller. I have a product you
need to buy.
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My Experience
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Most companies are reactionary.
They do not manage marketing well.
They do not take action until sales decline and
cause significant pain.
They prefer to do business as usual.
They fail when they do not understand the changing
market, customer expectations, and the need to
provide competitive value.
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What is Needed?
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Comprehensive Strategic Plan
Where are you going, how will you get there, when
will you arrive?
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Market Research
Why will people buy what you have to sell?
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Marketing Strategy
How will you tell people about what you have
to offer and convince them to buy?
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STRATEGIC PLANNING
What Is Strategic Planning?
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Strategic Planning Is A Systematic Way to Manage
Change and Create the Best Possible Future
 Optimizes
potential
 Takes
all the pieces of the organization and puts them in one
common direction.
 Focuses
resources to support desired results
 Identifies
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and commits the resources necessary to succeed.
People, money, equipment, etc.
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Strategic Planning Process
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Addresses the following:
 Who
you are
 What you do
 Who you serve
 Where you want to go
 When you want to arrive
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Strategic Vs. Tactical
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Strategic – Long-term, process oriented
Tactical – Short-term, day-to-day
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Strategic Plan
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Considers:
 Customers
 Competitors
 Investors
 Employees
 Internal
& External Environments
 Regulations
 Operations
 Markets
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Strategic Plan - Vision
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Vision Statement
 Long-term
view
 A verbal picture of the future
 Should be realistic and achievable
“If you can imagine it you can achieve it”
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Sample - Vision Statements
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Anheuser-Busch
“ Be the world’s beer company”
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Avon
“Be the company that best understands and satisfies the
product, service and self-fulfillment needs of women –
globally”
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Mission Statement
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What you are about:
 Corporate
Commitment
 Employees
 Customers
 Vendors
 Community
 Environment
 Technology
How you run your business on a day-to-day basis
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Sample - Mission Statement
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Bristol-Myers Squibb
“To discover, develop, and deliver innovative
medicines that help patients prevail over serious
diseases.”
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Step - Where We Are Today
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Finances
Profitability
Customer Assessment
Competition
Technology Assessment
Supplier Issues
Employee Issues
Production Issues
Regulations
Economy
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2nd Step- SWOT Analysis
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Strengths (Competitive advantage)
Weaknesses
Opportunities
Threats
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Goals
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Define the day-to-day focus of the business:
 Sales
& Profitability
 Motivated employees
 Satisfied customers & suppliers
 Efficiency
 Quality
 Innovation
 Production
These are the things that make the business operate
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Objectives
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Support Goals
 Specific
 Measurable
 Achievable
 Results
oriented
 Time specific
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Action Plans
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Actions that achieve objectives and ultimately goals
 Specific
logical sequence of steps that will be taken
 Assigned responsibility
 Date for completion
 Resources Allocated
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Results of Strategic Planning
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Strategic Alignment
 Control
destiny
 Forecast problems and solutions
 Better understand all aspects of your business
 Make better decisions
 Align resources
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Strategic Plan Outline
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Vision
Mission
Goals
Objectives
Actions steps
Responsibility
Time frames
Budget
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MARKET RESEARCH
What is Market Research?
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Market Research is the process of collecting and
analyzing information to answer specific questions.
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Business Success
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 MR
is an essential ingredient in developing an effective
marketing strategy and a thorough understanding of
consumers’ needs and wants.
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Why Do MR?
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Understand the market/customer
 Needs
 Motivation
 Willingness
to pay
 Barriers
 Competition
 Identify
opportunities
 Identify what is not working
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Two Types of MR
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Business – to – Business
Business – to – Consumer
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Applying The 4 P’s
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Product/Service Related Issues
 Desirability
of Specific Features
 Purchase Decisions
 Motivations
 How
often
 Competitive
Comparisons
 Substitution Comparisons
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Applying The 4 P’s
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Pricing Related Issues
 Acceptable
price points
 Price sensitivity
 Competitive pricing
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Applying The 4 P’s
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Place (Distribution)
 Best
methods
 Competitor distribution methods
 New/alternative distribution methods
 Cost comparisons
 Supply chain
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Applying The 4 P’s
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Promotion
 Logo
Development Testing
 Effective Advertising Media
 Advertising Testing
 Competitor Advertising
 Packaging Considerations
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Why?
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Marketing Research helps you make better
informed and less risky decisions
 Marketing
research helps execute your strategic plan
 Marketing research helps drive decision-making
 Marketing research helps to reduce risk
 Marketing research helps to develop a competitive
strategy and win customers
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MR Methodologies
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Quantitative Research
 FAX
Surveys
 Mail Surveys
 Mail Panels
 Telephone Surveys
 Personal Interviews
 Web-based Surveys
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Qualitative Research
 In-Depth
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Interviews
Telephone
Face-to-Face
 Intercept
Interviews
 Focus Groups
 Observation
 Experimental
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THANK YOU