Transcript Power Point Presentation

Famous McGraw Hill Ad
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“I don’t know who you are.”
“I don’t know your company”
“I don’t know your company’s products”
“I don’t know what your company stands for”
“I don’t know your company’s customers”
“I don’t know your company’s record”
“I don’t know your company’s reputation”
“Now what was it you wanted to sell me”
“Balance Circle”
Family Spiritual
Work
Intimacy
The Marketing Plan Process Workshop
Business Mission
Statement
Objectives
Situation or
SWOT Analysis
Marketing Strategy
Target Market
Strategy
Marketing Mix
Product
Distribution
Promotion
Price
Courses of Action
Implementation
Evaluation
Control
Marketing Strategy Document
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COVER PAGE – COMPANY NAME, PRODUCT/SERVICE
EXECUTIVE SUMMARY – 1 PAGE SYNOPSIS OF MSD
MISSION STATEMENT
MARKETING OBJECTIVES
SWOT ANALYSIS – Including Competitive analysis
TARGET MARKET STRATEGY
MARKETING MIX
COURSES OF ACTION
WEB STRATEGY
IMPLEMENTATION- Specific details of what courses of action
you have chosen.
• APPENDIX (INCLUDE CHARTS, TABLES)
Basis for written plan will be completed
during the workshop.
Company Name
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KISS
Describe the business
Easy to Pronounce
Be creative
Check it out with friends and family
Get suggestions
Check the state registry
Differentiate from competitors
Can You Identify These Brand
Names?
1.
2.
8.
13.
3.
9.
14.
15.
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5.
10.
16.
20.
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11.
17.
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Can you identify these slogans?
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Taste Great Less Filling
Eatin’ good in the neighborhood
1-800-588-2300
Good to the last drop
You can be sure if it’s?
99 and 44/100 % Pure
You’re in good hands
The Quicker Picker Upper
The breakfast of champions
That was Easy
You can do it… we can help
Let’s build something together
Mission Statement
• What business are we in and where are we going?
• Should be based on benefits sought by present and potential
customers.
• What is the company’s long term vision?
• Avoid Marketing Myopia (Short Sightedness)
• Statement too narrow
• Too short termed
• Focus on markets served rather than good or service
• Avoid being too broad.
• Examples – A T & T supplies long distance services or in the
communications business.
• Frito Lay in the Corn Chip business or in the snack food business.
• Amtrak in the business of running a railroad or transportation.
Class Exercise Mission Statement
Marketing Objectives
• Building on your mission statement your plan now needs
to focus on what are your goals.
• What do you intend to accomplish?
• Below are the key points, which could help determine
marketing objectives.
– A marketing objective is a statement of what is to be
accomplished through Marketing activities.
– Marketing objectives should be:
• Realistic
• Measurable – If you can’t measure it you can’t manage it
• Time specific – This helps with implementation and measurement.
– Objectives communicate marketing management philosophies,
provide direction, serve as motivators, are a basis for control,
and force business owners and managers to clarify their
thinking.
Marketing Objectives Exercise
SWOT Analysis
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Also called Situation Analysis
Checks the pulse of the company
Examines based on objectives
Strengths and Weaknesses are Internal
Opportunities and Threats are External
See example
SWOT Exercise
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Examine
Competitors
Internet: The Internet is a powerful tool for finding information on a variety of
topics.
Personal visits: If possible, visit your competitors' locations. Observe how
employees interact with customers. What do their premises look like? How
are their products displayed and priced?
Talk to customers: Your sales staff is in regular contact with customers and
prospects, as is your competition. Learn what your customers and
prospects are saying about your competitors.
Competitors' ads: Analyze competitors' ads to learn about their target
audience, market position, product features, benefits, prices, etc.
Speeches or presentations: Attend speeches or presentations made by
representatives of your competitors.
Trade show displays: View your competitor's display from a potential
customer's point of view. What does their display say about the company?
Observing which specific trade shows or industry events competitors attend
provides information on their marketing strategy and target market.
Written sources: Use general business publications, marketing and
advertising publications, local newspapers and business journals, industry
and trade association publications, industry research and surveys, and
computer databases (available at many public libraries).
Competitor Exercise
Marketing Mix – 4 P’s
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Product
Price
Place – Distribution – Supply Chain
Promotion
Product Video
Product
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More than the physical item itself
Feature Function Benefit
Competitive Advantage
Value the features add
Product Life Cycles
INTRODUCTION
Sales
Product
Strategy
Limited models
Frequent
changes
GROWTH
More models
Frequent
changes.
Distribution
Strategy
Limited
Expanded
Wholesale/
dealers. Longretail distributors term relations
Promotion
Strategy
Awareness.
Aggressive ads.
Stimulate
Stimulate
demand.Sampling
demand
Pricing
Strategy
High to recoup
development
costs
Fall as result of
competition &
efficient production.
Time
MATURITY
DECLINE
Large number
Eliminate
of models.
unprofitable
models
Extensive.
Margins drop.
Shelf space
Advertise.
Promote
heavily
Prices fall
(usually).
Phase out
unprofitable
outlets
Phase out
promotion
Prices
stabilize at
low level.
Product Worksheet Exercise
Price Video
Value Price Model
Negative
Differential
Value
Positive
Differential
Value
Reference
Value
Total
Economic
Value
How to determine customer value
• The best way to construct this model is by conducting a
needs analysis with the customer.
• Listen and Learn – Your customer will respond and tell
you his wants and needs. This will allow you to develop
a solution that will add value to your product/service.
• Ask Open ended questions, not those that require yes
or no answers.
• You can also use your Product Worksheet as a basis for
developing your pricing.
• Remember! Know what the decision maker needs see
example sheet.
Pricing Tactics
Value Price Exercise
Place Video
Channels for Consumer Products
Direct
Channel
Retailer
Channel
Wholesaler
Channel
Agent/Broker
Channel
Producer
Producer
Producer
Producer
Agents or
Brokers
Consumers
Wholesalers
Wholesalers
Retailers
Retailers
Retailers
Consumers
Consumers
Consumers
Channels for Business Products
Direct
Channel
Direct
Channel
Producer
Producer
Industrial Agent/Broker Agent/Broker
Distributor
Channel
Industrial
Channel
Producer
Producer
Producer
Agents or
Brokers
Agents or
Brokers
Industrial
Distributor
Industrial
Distributor
Industrial
User
Govt.
Buyer
Industrial
User
Industrial
User
Industrial
User
The Supply Chain Process
Place
• Location
– Physical Location
• Hours
• How is the location arranged
6 P’s
Distribution Strategy Exercise
• Determine how you are going to market
• Where would you fit into your customer’s
Supply Chain
• Determine the 5th and 6th P – Presentation
and Personnel
The Role of Promotion in the Marketing Mix
Overall Marketing
Objectives
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Marketing Mix
Product
Place
Promotion
Price
Target Market
Promotional Mix
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Advertising
Public Relations
Sales Promotion
Personal Selling
Promotion Plan
Goals and Tasks of Promotion
Informing
Reminding
Target
Audience
Persuading
The AIDA Concept
Action
Desire
Interest
Attention
Conative (doing)
Affective (feeling)
Cognitive (thinking)
Online
Additional Advertising References
Subject
Link
Advertising and Public Relations
http://www.sba.gov/smallbusinessplanner/manage/mark
etandprice/SERV_ADNPUBLICREL.html
Advertising Primer
http://www.sba.gov/smallbusinessplanner/manage/mark
etandprice/SERV_ADPRIMER.html
Promotion Tips
http://www.sba.gov/smallbusinessplanner/manage/mark
etandprice/SERV_15IDEAS.html
Quick Promotional Plans
http://www.sba.gov/smallbusinessplanner/manage/mark
etandprice/SERV_HIGHIMPACT.html
The Persuaders – PBS Special
http://www.pbs.org/wgbh/pages/frontline/shows/persuad
ers/
Half the money I spend on advertising is
wasted; the trouble is I don’t know which half.
John Wanamaker
Advertising Appeals
Profit
Product saves, makes, or protects money
Health
Appeals to body-conscious or health seekers
Love or romance
Used in selling cosmetics and perfumes
Fear
Social embarrassment, old age, losing health
Admiration
Reason for use of celebrity spokespeople
Convenience
Used for fast foods and microwave foods
Fun and pleasure
Key to advertising vacations, beer, parks
Vanity and egotism
Environmental
Consciousness
Used for expensive or conspicuous items
Centers around environmental protection
Remember – Sell the Sizzle not
the Steak!
Major Advertising Media
Newspapers
Magazines
Radio
Television
Outdoor Media
Yellow Pages
Internet
Alternative Media and Promotions
Shopping Carts
Floor Ads
Personal Selling
Subway Tunnel Ads
DVDs
Video
Video Game
Game Ads
Ads
Interactive Kiosks
Cell
Cell Phone
Phone Ads
Ads
Movie Ads/Product Integration
Church Bulletin
Condo Newsletter
Local News Editions
Lawn Sign
Word of Mouth
Guerilla Advertising
Referral Fees/Loyalty Prgorams
Newsletters
Trade Shows/Home Shows
Partnerships
Chamber of Commerce
Co-op Money
Coupons
Public Relations Tools
New product publicity
Product placement
Consumer education
Event sponsorship
Issue sponsorship
Internet Web sites
Promotion Example
Front
Back
Select Target
Obtain Leads from:
www.mcaepa.org
and
www.sjmca.org
Convert leads to a
spreadsheet
Design Mailer
Initial Results: 1 out of 252 response = .003%
$300,000 in business
Residual Results: Door Opener for 20 new opportunities
= 8%
Use Mail Merge
and send out mailer
Press Release Example
Promotion Exercise
• Determine your Promotion Mix
• Start to write a press release
Target Market Definition
A group of people or organizations for
which an organization designs,
implements, and maintains a marketing
mix intended to meet the needs of that
group, resulting in mutually satisfying
exchanges.
Target Market Examples
Useful Research Web Sites
Bases for Segmenting Consumer
Markets
Geography
• Region
• Market size
• Market
density
• Climate
Demographics
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Age
Gender
Income
Race/ethnicity
Family life
cycle
Psychographics
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Personality
Motives
Lifestyle
Geodemographics
Benefits
• Benefits
sought
Usage Rate
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Former
Potential
1st time
Light or
irregular
• Medium
• Heavy
Bases for Segmenting Business
Markets
• Geographic location
• Type of company
– User/Producer
– OEM
– Government
– Institutional
• Company size
• Volume of purchase
• Product use
Target Market Exercise
• Select a market that you will take your
Marketing Mix to
• Utilize everything you learned in the
previous exercises to complete this portion
of the plan
Web Strategy
Channel
Place
Transactions
Store Display
Navigation
Reduced Inventory
Reduced Expenses
Promotion
Advertising
Personal Selling
Customer Service
CRM
Coupons
Brand Awareness
Image
Web
24/7
Web
Product Development
Research
Added Value
Product
Web= Limited Barriers to Entry
Plus Economical Benefits
Cost
• Domain Name
$10.00/yr
• Web Hosting $60 to
$180/yr
• Web Hosting +
E-Commerce $120 to
$600/yr
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Benefits
Instant messages
Enhance revenue
Stream
Unlimited changes
Info 24/7
Feedback
Communications
Building Site Traffic
• Free Offers
– Opt-in mailing list
• Loyalty Programs
• What’s new portion to
create re-visits
• Change Home Page
frequently
• Use “E” Coupons
• Create useful links
• Tip of the day (Product of
the month)
• Newsgroups/Blogs
• You Tube Video Links
• State your privacy policy
and live by it
• State and live by your
privacy policy
• Do not bombard
customers
• Use a signature file on
emails
• Use a call to action
• Use alternate addresses
• Google Analytics
• Constant Contact.com
Advertising
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Google Ad Words
Google Ad Sense
Banner advertising
Submit to Search
Engines
• Web Friendly
• Web Search Position
• Affiliate Programs
• Drive more traffic to
your site
• Get a revenue stream
• Constantly try to
improve your position
in searches
• Seek reciprocal links
• Web Blast
WEB TIPS
Show URL Everywhere
Check competitors key words
Use Page description Title
Use Alt Image Tags
Selling on the Web
• Shopping Cart
– Paypal Alternative
• Merchant Account
– Papal alternative
• EBAY, Amazon, Google, ETSY, Craig’s List
• Social Marketing
– LinkedIn, My Space, Facebook, Twitter
• 101 Ways to Promote your Web Site
Web Exercise
• Determine your Web Strategy
Potential Courses of Action and
Outcomes
• Based on everything you have developed
so far you can now determine some things
that you can do
• Examine the Course of Action in both
positive and negative terms
• This will be a basis for the Implementation
Portion of your plan
Courses of Action Exercise
Implementation Reminders
Be Specific and Descriptive
Place
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Location
Physical Size
Color
Personnel
Appearance
• Climate
Product
Promotion
• Physical
description
• Product Depth
• Product Width
• Advertising
Details
• Public
Relations
Details
• Press Release
schedule
• Co-op
Price
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Value Pricing
ROI Pricing
Cost Plus
Functional
Pricing
Target Customers
• Customer List
• Potential
Customer List
• Demographics
• Geographics
Implementation
Do’s
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Each Course of action
should be twice the
description volume
Show painstaking
details
List action assignments
Realistic
Measurable
Time Specific
Timelines
Include Budgets
Communicate to the
entire organization
Don’t’s
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Indicate course by
saying #2 above
Take this section for
granted
Be inflexible
This is where many organizations fail. Remember
Proper-Prior-Planning-Prevents-Piss PoorPerformance
General Nathaniel Ross Thompson III
Complete Implementation
Then prepare Executive Summary
Questions?????