Transcript chap11_ver2

11
The Marketing and Sales Plan
Successful salesmanship is 90 percent preparation and
10 percent presentation.
Bertrand R. Canfield
Summary
What is the best way to attract, serve,
and retain customers?
Any new firm needs to build a marketing plan
that describes how it will attract, serve, and
retain the customers targeted for its
products.
Chapter 11: Summary
Technology Ventures: From Idea to Enterprise
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Acceptance & recognition in the target market (How to gain? – in
sequence)
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Describe the product offering
Describe the target customer
State the marketing objectives
Gather information through market research
Create a marketing plan
Create a sales plan
Build marketing and sales staff
Marketing vs. sales…
Marketing is everything that you do to reach and persuade prospects. The sales process is
everything that you do to close the sale and get a signed agreement or contract
marketing is :
1. Discovering what product, service or idea customers want.
2. Producing a product with the appropriate features and quality.
3. Pricing the product correctly.
4. Promoting the product; spreading the word about why customers should buy it.
5. Selling and delivering the product into the hands of the customer.
Selling is one activity of the entire marketing process.
Selling is the act of persuading or influencing a customer to buy (actually exchange something of value for) a
product or service.
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The Marketing and Sales Plan
Marketing is a set of activities with the objective
of securing, serving, and retaining customers for
the firm’s product offerings.
The purpose of the marketing plan is to describe the steps required to achieve marketing objectives.
Implementation thru the marketing programme.
Chapter 11: Marketing
Technology Ventures: From Idea to Enterprise
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The Six Elements of the Marketing Plan
•Marketing Objectives
•Customer Target Segments
•Product Offering Description
•Marketing Research and Strategy
•Marketing Mix ( - Price, Product, Promotion, and Place
(channels)). - the 4 Ps
•Customer Relationship Management
Chapter 11: Table 11.1
Technology Ventures: From Idea to Enterprise
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The Marketing and Sales Plan
Building A Marketing
Plan and a Sales Plan
Opportunity
Mission & Strategy
Business Model
The Marketing objectives statement is a
clear description of the key objectives of the
marketing programme.
*quantifiable
*given time period
Target Market & Customer
Marketing Objectives
Marketing Research
Marketing Plan
Sales Plan
Chapter 11: Figure 11.2
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The Marketing and Sales Plan
A market segment consists of a group with
similar needs or wants and may include
geographical location, purchasing power, and
buying attitudes.
market segmentation divides market into
segmentations that have different buying needs,
wants, and habits. Different segments will require
different marketing strategies.
Psychographic – lifestyle &
personality that influence
customer’s wants and needs.
Chapter 11: Market segment
Geographic – city, region, “urban”
Demographics – age, income,
gender, social class…
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The Marketing and Sales Plan
Four crucial questions to ask about target markets
(Mullins, 2006)
A best customer is one who values your brand, buys it regularly whether your
product is on sale or not, tell his or her friends about your product, and will not readily
switch to a competitor.
Chapter 11: Table 11.2 – Crucial questions to ask about target markets
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The Marketing and Sales Plan
Positioning is the act of designing the product
offering and image to occupy a distinctive place in
the target customer’s mind.
Positioning Map
Why “positioning”?
•Product can be differentiated to some extend by
communicating the most highly valuable benefit to
the buyer.
•Enables the firm to differentiate the product in
mind, of the prospect.
e.g. Volvo connotes on Safety, FedEx – “overnight”
Chapter 11: Positioning
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The Marketing and Sales Plan
A positioning map
for personal
computers
showing the
position of a new
product, EasyPC.
High
X Dell
X EasyPC
X HP
Performance
Price
X Apple Mac
Medium
*relative to competitors
X Gateway
Low
Low
Medium
High
Ease of Use
Chapter 11: Figure 11.3 - Positioning Map
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The Marketing and Sales Plan
A product offering communicates the key values of
the product and describes the benefits to customers.
The unique selling proposition is a statement
of the key customer benefit of a product that
differentiates it from its competition.
Hence, the suitable USP for the “hypothetical” EasyPC is?
Chapter 11: Unique selling proposition
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The Marketing and Sales Plan
Create a positioning map for the airline industry
and describe the position of a new product that
provides regional service using a jet with 72
seats. Describe its unique selling proposition.
Chapter 11: Exercise
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The Marketing and Sales Plan
The positioning statement describes the
customer, the need, the product, the key benefit
and the product differentiation.
Chapter 11: Positioning statement
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The Marketing and Sales Plan
Positioning Statement
• For (target customer)
• who (statement of need or opportunity)
• that (statement of benefit)
Differentiation
• Unlike (primary competitive alternative)
• our product (statement of primary differentiation
Chapter 11: Figure 11.4 (a)
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Chapter 11: Figure 11.4 (b)
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The Marketing and Sales Plan
Market research is the process of gathering the
information that serves as the basis for a sound
marketing plan.
Objectives of marketing research – learn how to:
Attract customers
Chapter 11: Market Research
Retain customers
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The Marketing and Sales Plan
The Market Research Process
1. Define the product and its unique selling proposition. Identify the
customer segment. Develop a set of questions that will provide the
necessary data on customer preferences and behavior.
2. Collect the data using surveys, published sources, focus groups,
interviews, and other means to secure it. (PRIMARY or secondary sources)
3. Analyze and interpret the data to determine if the product meets the
needs or wants of the customers and determine whether they will pay the
price you seek.
4. Draw conclusions on the customer and their needs, preferences and
behavior.
Chapter 11: Table 11.3 – Market research process
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The Marketing and Sales Plan
An important use of market research is to estimate the market potential for
maximum sales under expected conditions. Therefore, the sales forecast can be
estimated.
Customer development process – the process of discovery, validation,
and creation of customers leading to company building.
Chapter 11: Figure 11.5 – customer development process
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BRAND EQUITY.
• What is a “brand”?
A brand is a combination of name, sign, or symbols that identify
the goods sold by a firm.
• A brand is something that resides in the minds of customers. It adds
value to the product.
• “Brand Equity” is the perceived worthiness of the brand in the mind of
the customer and may be portrayed as the sum of the Four dimensions
as shown below:
Brand awareness or familiarity.
Four dimensions:
Perceived quality and vitality of the product.
Brand associations: connects the customer with the brands.
Brand loyalty: a bond or tie to the product.
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The Marketing and Sales Plan
The Four Elements of the Marketing Mix
Product
Product Variety
Quality
Design
Features
Brand Name
Packaging
Warranties
Returns Policy
Promotion
Public Relations
Advertising
Sales Force
Direct Messages
Chapter 11: Table 11.4
Price
List Price
Discounts
Credit Terms
Payment Period
Place
Channels
Locations
Inventory
Fulfillment
The marketing plan describes the key methods
of differentiating the product.
•Advertising is the art of delivering a sales
proposition and positioning the product
uniquely in the customer’s mind.
•Word-of-mouth – viral marketing
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Customer relationship management (CRM) consists of a
set of conversations with the customer.
“Conversations” consist of
Economic exchanges
The space in which the exchange takes place
The product offerings which is the subject of the exchange
The context of the exchange
Chapter 11: Customer Relationship Mgmt.
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The Customer
Search
Acquire
*Create a customer database
Use
Maintain
Dispose
Conversations
Design
Build
Sell
Service
The Firm
The Customer-Firm Relationship as Conversation
Chapter 11: Figure 11.7
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Diffusion of technology and
Innovations
Chapter 11: Table 11.8
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The Chasm Model
13.5%
34%
CHASM
2.5%
34%
16%
The large gaps between visionaries and pragmatists
Chapter 11: Figure 11.10
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The Marketing and Sales Plan
Identify the market
Make initial contact and
establish a relationship
Determine customer
problems & needs
Selling is the transfer of products from one person
or entity to another through an exchange
mechanism.
Create a solution for the
problem
Present the solution
Ask for the order
Confirm the order
The solution selling process.
Chapter 11: Selling
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The Marketing and Sales Plan
A sound marketing plan enables a new firm to
identify the target customer, set its marketing
objectives, and implement the steps necessary to
sell the product and build solid customer
relationships.
Chapter 11: Principle
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The Marketing and Sales Plan
Describe a marketing mix for the regional jet
airline designed earlier.
Chapter 11: Exercise
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The Marketing and Sales Plan
VENTURE CHALLENGE
1) Describe the customer and the target segment you have identified.
2) Develop a positioning statement using the template in Figure 11.4.
3) Using the format of Table 11.3, describe the market research plan.
4) Briefly describe the marketing mix for your product.
5) How will your venture sell its product and develop customer
relationships?
6) Research an industry and determine the length of the sales cycle in
that industry.
Chapter 11: Venture Challenge
Technology Ventures: From Idea to Enterprise
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The Marketing and Sales Plan
DVD Video
“Passion and the Customer”
Vic Verma (Savi Technology)
“Seed the Clouds and Watch the Sales Grow”
Guy Kawasaki (Garage Technology Ventures)
Chapter 11: DVD Videos
Technology Ventures: From Idea to Enterprise