Transcript Marketing: Product, Price, Place and Promotion

Training and Development Team
What is Marketing?
Debra Kurtz
Kurtz Consulting Inc
Training and Development Team
Definition Marketing: by local
experts
Marketing's goal is to find the perfect
marriage between customers' deep needs
and the what the company can deliver
(called: value proposition)...
And then put together the right set of
programs to move customer behavior
(messages, channels, incentives, etc.)...
So that both the customer and the company
are better off.
Training and Development Team
Definition Marketing: by local
experts
Marketing is the SCIENCE of understanding your
customer, your competition, and your company. It is
the ART of combining this understanding with vision
and persuasion to create opportunities and solutions
that satisfy the emotional needs of your customer
and the revenue needs of your company.
A bit academic, don’t you think?
Training and Development Team
So I asked a kid… Marketing is:
"Getting people to buy s#&t they
don't need."
Training and Development Team
Debra’s Definition of Marketing
Figuring out what people want,
getting it to them,
and telling them about it.
Training and Development Team
Sometimes Called “The 4 P’s of
Marketing”
Product = Figuring out what products/services to offer
Price = Figure out how to price the product or service
Place = How/where to sell to customers
Promotion = Tell customers about it
Training and Development Team
What’s the difference between
Sales & Marketing?
Selling is the ability to motivate the
customer to want what you have…
Marketing is the ability to have what the
customer wants…
Taken together they fulfill the promise of
providing superior customer satisfaction.”
Case Study:
Getting the Right Product
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Business Opportunity: Summit is
the dominant player in the x-ray
industry. The product line was
mature, requiring a new plan for
Summit’s future growth.
Solution: Kurtz Consulting helped
Summit develop the business case to
pursue new digital technology which
jumpstarted sales.
Results: Summit Industries
launched several new digital products
within 12 months and increased sales
by over 20% that year.
“Debra Kurtz helped our
company set a new
strategic direction. At the
same time, she helped
our company finance
this initiative through
additional sales of our
existing products. She is
a strategic thinker who
knows how to produce
results.”
Joe Flies, President
Summit Industries Inc
Case Study:
Setting Pricing
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Business Opportunity: Baby
products company had new product
which was superior to competitors.
Solution: Kurtz helped company
establish premium pricing, based not
on competitor’s prices, but on the
price of an alternative consumer
choice.
Results: Company sales grew over
20%. Product achieved over 50%
market share.
Case Study:
Setting Pricing
$1,200
$1,000
$800
$600
$400
Product
Achieved
50%
Market
share
$200
$Other Retail Products
New Product
Substitue
Don’t think you have to price like your competitors. If you have a really good
product, you can charge more. Consider what customers would have to pay if
they don’t use your product—that’s the real upper limit to pricing.
Case Study: Placing your products
– where/how to sell them
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Business Opportunity: Medical products company
had 80% market share selling to hospitals. But
patients also needed the products at home.
Solution: Developed new sales channels for
company including Retail and Direct to Consumer
Results: Generated 25% of sales increase to
company and 50% market share within the retail
channel
Training and Development Team
Review of Marketing
Product = Figuring out what
products/services to offer
Price = Figure out how to price the
product or service
Place = How/where to sell to customers
Promotion = Tell customers about it
Coming next
Debra Kurtz
Training and Development Team
Kurtz Consulting Inc
224.715.1538
www.debrakurtz.com