Marketing…
The goal is not to be something to everyone, the goal is to be everything to
someone.
Agenda
• What Marketing Is• Neanderthal Marketing• Basic Structure of a Marketing Plan• Discussion
Marketing Is …
… the art of finding, developing and profiting from opportunities.
Tradtionally…P’s - Price, Product, Promotion, and PlaceC’s - Customer solution, Customer cost, Convenience, Communication
Philip Kotler, Kellogg School of Management
Marketing Is …In order to be effective at marketing, an organization needs to understand:• Primary target (Customers)• Others who want your target (Competition)• Where your targets ‘shop’ (Marketplace)
Neanderthal Marketing• Equating marketing with selling
• Emphasizing customer acquisition rather than customer care
• Trying to make a profit on each transaction rather than trying to profit by managing customer lifetime value
• Pricing based on marking up cost rather than target pricing
• Planning each communication tool separately rather than integrating marketing communication tools
• Selling the product rather than trying to understand and meet the customer’s real need
The Marketing Plan • Overview• Vision or Mission• Marketing Objectives• Market Segments/Segmentation
Strategy/Discussion of Needs• Product Definition• Communications Strategy• Distribution Channels• Competitive Analysis• Tactical Plan • Budget• Marketing Resources• Measurement
The Marketing Plan • Overview• Vision or Mission• Marketing Objectives• Market Segments/Segmentation
Strategy/Discussion of Needs• Product Definition• Communications Strategy• Distribution Channels• Competitive Analysis• Tactical Plan • Budget• Marketing Resources• Measurement
The Marketing Plan
• Marketing Objectives• Market Segments/Segmentation Strategy/Discussion of Needs• Communications Strategy• Tactical Plan • Budget• Measurement
The Marketing Plan •Marketing Objectives– What are you going to accomplish?
• Market Segments/Segmentation Strategy/Discussion of Needs– Break down your market into segments and address each segment’s need
• Communications Strategy (advertising, PR, direct marketing)– What will you tell people to attract them?– How will you tell them?
• Tactical Plan – What are the activities you will conduct to “close the deal”?
• Budget– How will you effectively use your funds?•Measurement– How will you judge success?