Transcript Document
Demonstrate connections between
company actions and results.
• What results do you want?
• What steps will you take?
• How long before you know if you were
successful? (A week, a month, six-months, a
year, 2 years, etc.)
• How will you gage your success? (Increased
sales from existing customers, new customers,
customer retention, etc.)
Discuss motivational theories that
impact buying behavior.
• What motivates your
customers?
– See Maslow’s Hierarchy of
Needs
• physiological needs, safety
needs, social needs, esteem
needs, self-actualization needs
• When one need is satisfied, it
will stop being a motivator and
the person will then try to
satisfy the next most important
need.
Discuss motivational theories that
impact buying behavior.
Discuss motivational theories that
impact buying behavior.
• Motivational Levels-- Depending on how important a purchase is to an individual,
his motivational levels may vary from low to high. Influences include familiarity
with the purchase, status factors and overall expense and value.
– Where fulfillment rewards are low, as with groceries, motivation levels are also relatively
low and involve little decision-making behavior.
– Conversely, with a complex, risky and emotionally-charged process such as buying a new
house, the drive to achieve the "right" result is high.
• Motivational Behavior--The behavioral aspect of consumer motivation concerns
the actions someone takes before purchasing and consuming goods or services. A
person might do a lot of research--evaluating alternatives, testing and sampling-before making a selection. She might decide to buy something based on which
goods or services most closely meet and satisfy motivational wants and needs.
– Marketers aim to gain the most impact and eventual sales by linking their products and
services to clearly defined consumer needs and by understanding what motivates
people to buy.
Read more: Definition of Consumer Motivation | eHow.com
http://www.ehow.com/about_6572429_definition-consumermotivation.html#ixzz1jMvIj2u2
Discuss motivational theories that
impact buying behavior.
• Motivational Influences--Motivational levels differ greatly between
individuals and are influenced by many external variables.
– These include the social value of making the "right" decision, beliefs about
brands and alignment of brand values and personal values.
– If other people are involved in the decision, their motivation also affects the
behavior of the primary consumer.
• Accessing Motivation--Companies and marketers use a number of
different tools to help them understand consumer motivation in relation
to their products and services.
– This may help them orient their markets according to different buyer
motivation.
– Marketers use pre-purchase and post-purchase focus groups, one-to-one
interviews and online or postal surveys to develop their understanding of
consumers' motivational drivers.
Read more: Definition of Consumer Motivation | eHow.com
http://www.ehow.com/about_6572429_definition-consumermotivation.html#ixzz1jMvIj2u2
Explain the concept of market and
market identification.
• Definition of market - A place where buyers and
sellers make transactions , directly or via
intermediaries.
• Marketing Concept – A management philosophy to
which a firm's goals can be best achieved through
identification and satisfaction of the customers’
stated and unstated needs and wants.
Explain the concept of market and
market identification
2 Methods to Identify your Target Market
• 1.) Identifying The Solution Your Product Offers:
Meaning every product out there is a solution to a
problem, so you need to find what solution your
product offers.
– For example, if your marketing a juice that helps you lose
weight, well then your target market would be people that
exercise, are health conscious, and more often than not,
go bonkers for anything organic. Boom!
• 2.) Research Your Competition: Remember that old
saying “Keep your friends close, and your enemies
closer!” ? Well the same holds true for your business.
Explain the role of promotion as a
marketing function.
• Promotion consists of several methods of communicating with and
influencing customers.
• Promotion provides information that will assist customers in making a
decision to purchase a product or service.
• The role of promotion is critical to the success or failure of products
coming on to the market.
• A business total marketing communications program is called the
promotional mix and consists of a blend of:
–
–
–
–
–
advertising
personal selling
Direct marketing
sales promotion
public relations
• Promotion will be different depending on what the marketers are trying
to achieve such as greater sales volume or competitive advantage etc.
Identify product’s/service’s
competitive advantage.
• Business gain a competitive advantage through the use
of various strategies.
– Differentiation: Charging a premium price for a higher quality
product than your competitors. Mercedes cars have more
features than your average Ford/Chevy cars so it costs more
to make them. It also costs more to buy them (premium
price).
– Differentiation Focus: Focuses on smaller number of target
market segments. Must determine customers have the
needs/wants for the product and competitors are not
satisfying them. (Examples; successful Niche Retailers such as
a bicycle shop as opposed to a sporting goods store, or
specialist holiday operator like Halloween City)
Identify product’s/service’s
competitive advantage.
• Business gain a competitive advantage through the
use of various strategies.
– Cost Leadership: Attempting to lower production cost
and keep the sale price equal or near the average for the
market. If successful companies may lower the price of
a product if they have a significant production cost
advantage over the competition. In doing so, it can
further increase it’s Market Share.
– Cost focus: Business seek a lower-cost advantage in a
small number of the market segments. Product will be
similar to those of the higher-priced market leaders but
sufficient. (store-brand or Dollar Tree toilet paper vs.
Charmin)
Identify product opportunities.
1.
Evaluate the current market:
1.
2.
Identify the problems:
1.
3.
Research is an essential first step. Albert Einstein said, “If we knew what it was we
were doing, it would not be called research, would it?” Let’s consider Jet Blue’s path.
The airline found traditional air travel focused on profitable business travelers that
sought to get from point a to point b. These customers were currently being served
by airlines like Delta, so Jet Blue had to take a different approach and capture a new
audience if they wanted to break through.
After you have examined the broad scope of the market, it’s time to identify any
under-served customer needs. “Knowing the market’s needs and how it is currently
serviced provides you with key information that is essential in developing your
product/service and marketing plan,” writes VA-Interactive. For Jet Blue, their team
understood that appealing to the profitable business traveler was already done by
Delta. The new airline took several steps back and saw there was a demographic not
being served: the casual, young, urban flier. But how could Jet Blue capture this
demographic?
Determine how you can solve them:
1.
At this the point you are beginning to hone-in on your market opportunity. The
research and analysis has been done, now it’s time to stretch your creative thinking
to solve the current market problems. “A business has to be involving, it has to be
fun,” says billionaire Richard Branson, “and it has to exercise your creative instincts.”
This is exactly what Jet Blue did.
Describe factors used by marketers to
position products/services
• Market Position: The unique image of a product/service in a
consumer’s mind relative to similar competitive offerings.
• Ways to Position
– Attribute: Highlight a product feature.
– Price & Quality: Stress high price as a sign of quality or emphasize
low price as an indication of value
– Use or Application: Stress unique use or applications can be
effective means of positioning a product.
– Product User: Encourages use of a product/service by associating
a type of user with the product.
– Product Classification: Associate the product with a particular
category of products. (Pork the other White Meat)
– Competitor: Demonstrate how you are positioned against
competitors that hold a strong market position.
Coordinate activities in the
promotional mix
• Promotional Mix
– Advertising: TV, Radio, Flyers, Newspaper Ads, etc.
– Sales Promotion: Coupons, sweepstakes, contests,
free samples, rebates. Gives them an incentive
– Personal Selling: Sales Reps, salesperson, personto-person communications
– Publicity: Nonpaid communication, News stories,
goodwill stories (publicity can also HURT you)
– Direct Marketing: Email, telemarketing, direct mail
Choose appropriate media vehicles for
sport/event
• How are you going to get your message out to the
target market?
• Some means are appropriate in one situation but not
in another:
–
–
–
–
–
–
–
–
Newspaper Ads
Email
Text messages to existing customers
Website
Radio
TV
Direct Mail
Billboards
Communicate core values of
product/service
• The driving force of the product/service
– Apple-Innovation
– Starbucks-Consistent Quality
– Seventh Generation (makes non-toxic, environmental
friendly cleaning supplies)-Environmentally Safe
• Other core values companies may have
– Efficiency
– Reliability
– Accountability
– Commitment
-Community
-Empowerment
-Safety
-Service Excellence
Describe factors used by businesses to
position corporate brands
• A brand is more than a logo or tag line. It is a
relationship that organizations have with everyone they
touch, including employees, customers, suppliers, end
users, etc.
• Possible Factors
– Brand Attributes: What the brand delivers through features
and benefits to consumers.
– Consumer Expectations: What consumers expect to receive
from the brand.
– Competitor attributes: What the other brands in the market
offer through features and benefits to consumers.
– Price: An easily quantifiable factor – Your prices vs. your
competitors’ prices.
– Consumer perceptions: The perceived quality and value of
your brand in consumer’s minds
Describe marketing functions and
related activities
• 7 Functions of Marketing
– Financing
– Pricing
– Promotion
– Product/Service Management
– Distribution
– Selling
– Marketing-Information Management
Describe marketing functions and
related activities
• 7 Functions of Marketing
– Financing-Budgeting for marketing activities
– Pricing-Establishing and communicating value of the product
to customers
– Promotion-Communicating information to customers
– Product/Service Management-Assisting in the design and
development of products that will meet customer
needs/wants
– Distribution-Best methods for customers to locate, obtain
and use product/services
– Selling-Direct, personal communications with prospective
customers
– Marketing Information Management-Obtaining, managing,
and using market info
Describe the use of technology in the
product/service management function
• What technology (printers, computers, software, etc.) is
necessary in creating existing or new products?
• Will online resources be used?
• Will we have to outsource (get someone else to do part
of the work) to create new products/services?
• Do our current employees need additional training in
these technologies?
• Look at Minute Man Press and see what they are
offering
– http://www.londonky.minutemanpress.com/servicecenter/p
roducts_services.html
Develop positioning concept for a new
product idea
• The concept that will direct all the marketing required
to achieve the business goal.
• Ways to Position
– Attribute: Highlight a product feature.
– Price & Quality: Stress high price as a sign of quality or
emphasize low price as an indication of value
– Use or Application: Stress unique use or applications can be
effective means of positioning a product.
– Product User: Encourages use of a product/service by
associating a type of user with the product.
– Product Classification: Associate the product with a
particular category of products. (Pork the other White Meat)
– Competitor: Demonstrate how you are positioned against
competitors that hold a strong market position.
Discuss actions employees can take to
achieve company’s desired results
• Personal Selling
– More Information
– Gain Feedback from customers
– Persuasion by knowing needs of customer, salesperson
can match the qualities of the product to the customer
needs.
– Follow-up: By reaching previous customers, a
salesperson lets them know that our company cares.
Discuss actions employees can take to
achieve company’s desired results
• These are the
steps a customer
takes to a sale.
• How can your
employees get
you to the final
step by creating
the previous
steps?
Explain customer buying behavior
Explain customer/client/business
buying behavior
• Clients are teamed with your business
• Businesses often
Explain the nature and scope of the
product/service management function
Explain the nature of corporate
branding
Explain the nature of product/service
branding
Explain the role of customer service as
a component of selling relationships
• Customer service can make or break your
company.
• People are more likely to voice a BAD experience
than a GOOD one.
• If you are effective with your customer service
department, service reps can act as sales reps in
some capacity in fulfilling the customers’
needs/wants and closing a sale.
• Ineffective Customer Service—will run off
customers
Identify “out-of-the-box” sales
promotion ideas for sports/events
Identify the elements of the
promotional mix
– Advertising: TV, Radio, Flyers, Newspaper Ads, etc.
– Sales Promotion: Coupons, sweepstakes, contests,
free samples, rebates. Gives them an incentive
– Personal Selling: Sales Reps, salesperson, personto-person communications
– Publicity: Nonpaid communication, News stories,
goodwill stories (publicity can also HURT you)
– Direct Marketing: Email, telemarketing, direct mail
Participate in community outreach
activities
Discuss the nature of human resources
management
Explain possible advancement patterns
for jobs
• Possible example:
– Hostess (seat customers, minimum wage but little
tips)
– Waitress (minimum wage + tips)
– Assistant Manager (assist manager, directly in
charge of new employees)
– Restaurant manager at one of our restaurants.
• Research your TYPE of company in the role
play and find a job path
Explain the need for ongoing
education as a worker.
•
•
•
•
New laws/regulations
More competent in their field
Learn new techniques to improve productivity
Ability to advance in the career
Identify skills needed to enhance
career progression
• Consideration is given to waiters/waitresses with
additional education seeking progression.
• Restaurant managers generally have the following
characteristics
– Be reliable, show initiative, and have leadership
qualities
– Good problem-solving skills and the ability to
concentrate on details
– Must convey self-confidence and show respect in
dealing with the public
Orient new employees
• First priority is to explain why they are important to our company and
customers
• For a waiter/waitress
– Prepare tables for dining (clean/cover tables, set utensils and menus)
– Assist customers with food/beverage choices (Present menus, explain daily
specials, answer questions, offer appetizers)
– Transmit orders to kitchen or bar (be sure to announce any specialty diets such
as salt concerns)
– Serve orders to customers
– Maintain dining experience (refill glasses, ask if they need anything, be alert to
spills/drops/special needs)
– Concludes dining experience (invite them to return)
– Obtain dining revenues (take their cash or credit card and process promptly)
– Protects restaurant and diners(making sure everything is safe and sanitary)
– Improves waiter/waitress job knowledge (attend training sessions, read
technical publications)
– Contributes to food service and restaurant success (welcoming and
accommodating new or different requests, assisting co-workers)
Orient new employees
• For assistant manager or manager
Describe word-of-mouth channels used to
communicate with targeted audiences
• A profound effect on sales, brand loyalty and positive
word of mouth
• Targeting specific groups is best choice of word-ofmouth. (high schoolers, elderly, people that work at
CSX or a factory)
• Be sure you make a POSITIVE impression on your first
customer from this group and ask them to like you on
Facebook, tell their friends, tweet about it.
• Include a social media links on company webpage.
Offer incentives to get this particular group interested
if they LIKE your page.
Explain key factors in building a
clientele
Explain the concept of product mix
• Includes all the different products that a company
makes or sells.
– Product Line- Group of closely related products
– Product Width-Refers to the number of different
product lines a business manufactures or sells
– Product Depth-Refers to the number of a product
items offered within each line
• Question: Apple, Proctor and Gamble, Toyota,
McDonalds, Subway.
Explain the nature of a promotional plan
• A promotion plan outlines the promotional tools or
tactics you plan to use to accomplish your marketing
objectives.
• Promotional Mix
– Advertising: TV, Radio, Flyers, Newspaper Ads, etc.
– Sales Promotion: Coupons, sweepstakes, contests, free
samples, rebates. Gives them an incentive
– Personal Selling: Sales Reps, salesperson, person-to-person
communications
– Publicity: Nonpaid communication, News stories, goodwill
stories (publicity can also HURT you)
– Direct Marketing: Email, telemarketing, direct mail