Transcript Australian Marketing Institute

Marketing in Tough Times
Roger James FAMI CPM
Chairman
Australian Marketing Institute
Today:

What does the GFC mean to you?

How can businesses respond from a marketing point of
view?
The Role of Marketing

Inclusive view of marketing

Marketing orientation as well as marketing function

Source of value creation

An investment not a cost
Re-visiting some marketing fundamentals
Marketing information critical

Markets

Customers

Products – as seen by customers

Price – in the eye of the customer

Channels

Advertising and promotion
Markets

Examine markets/customer base – macro level

Analyse segment profitability

Competition – marketing response to competitive activity
Customers

Review customer base – micro level

Retain current customers vs. acquiring new customers

High value/low value customers
Products – goods and services
Your product in the mind of your customer

A staple?

A luxury good?

A discretionary purchase?
Price
Role of pricing in addressing a downturn

Price reduction can stimulate sales but has risks

Alternatives may be available – bonuses, incentives
Channels

Review channel costs

Close contact with any distributors, wholesalers

Support programs?
Advertising and Promotion

Often the first cut – Why?

Evaluate efficiency of different marketing modes

Evaluate ROI of different marketing modes
Advertising and Promotion

PIMS (Profit Impact of Market Strategy)
Practical implications – Advertising and Promotion

Understand your brand, its values and qualities

Does your marketing express these qualities clearly?

Communicate consistently
Practical implications – Advertising and Promotion

What do I need to know to keep my present customers and to
increase sales to them? How can I collect, store and use the
information I need to do this?

Who and where are my future customers; how can I reach them with
an arresting communication about my value proposition?

What are the critical differences between my offering and those of
my competitors? How can I ensure my point of difference is
communicated to my markets?
Practical implications – Advertising and Promotion

Internal marketing – the start of any effective marketing
communications strategy

Low cost/high impact channels such as word of mouth, referrals,
recommendations

Sampling, buzz marketing

Marketing training for front-line sales – turn order-takers into
marketers
In Summary

Information critical – if you can’t measure it you can’t
manage it

Marketing measurement should be across the marketing
mix

Marketing should be the solution – not the problem
Thank you
[email protected]