Famous McGraw Hill Ad

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Famous McGraw Hill Ad

• I dont know who you are.
• I dont know your company
• I dont know your companys products
• I dont know what your company stands for
• I dont know your companys customers
• I dont know your companys record
• I dont know your companys reputation
• Now what was it you wanted to sell me

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(No Transcript)
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Balance Circle
Family
Spiritual
Work
Intimacy
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The Marketing Plan Process Workshop
Courses of Action ImplementationEvaluationContro
l
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Marketing Strategy Document

• 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.
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Company Name

• 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

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Can You Identify These Brand Names?
1.
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10.
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Can you identify these slogans?

• Taste Great Less Filling
• Eatin good in the neighborhood
• 1-800-588-2300
• Good to the last drop
• You can be sure if its?
• 99 and 44/100 Pure
• Youre in good hands
• The Quicker Picker Upper
• The breakfast of champions
• That was Easy
• You can do it we can help
• Lets build something together

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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 companys 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.

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Class Exercise Mission Statement
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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 cant measure it you cant
  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.

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Marketing Objectives Exercise
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SWOT Analysis

• 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

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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).

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Competitor Exercise
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Marketing Mix 4 Ps

• Product
• Price
• Place Distribution Supply Chain
• Promotion

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Product Video
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Product

• More than the physical item itself
• Feature Function Benefit
• Competitive Advantage
• Value the features add

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Product Life Cycles
Time
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Product Worksheet Exercise
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Price Video
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Value Price Model
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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.

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Pricing Tactics
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Value Price Exercise
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Place Video
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Channels for Consumer Products
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Channels for Business Products
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The Supply Chain Process
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Place

• Location
• Physical Location
• Hours
• How is the location arranged

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6 Ps
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Distribution Strategy Exercise

• Determine how you are going to market
• Where would you fit into your customers Supply
  Chain
• Determine the 5th and 6th P Presentation and
  Personnel

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The Role of Promotion in the Marketing Mix
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Goals and Tasks of Promotion
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The AIDA Concept
Online
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Additional Advertising References
Subject Link
Advertising and Public Relations http//www.sba.gov/smallbusinessplanner/manage/marketandprice/SERV_ADNPUBLICREL.html
Advertising Primer http//www.sba.gov/smallbusinessplanner/manage/marketandprice/SERV_ADPRIMER.html
Promotion Tips http//www.sba.gov/smallbusinessplanner/manage/marketandprice/SERV_15IDEAS.html
Quick Promotional Plans http//www.sba.gov/smallbusinessplanner/manage/marketandprice/SERV_HIGHIMPACT.html
The Persuaders PBS Special http//www.pbs.org/wgbh/pages/frontline/shows/persuaders/
Half the money I spend on advertising is wasted
the trouble is I dont know which half. John
Wanamaker
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Advertising Appeals
Remember Sell the Sizzle not the Steak!
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Major Advertising Media
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Alternative Media and Promotions
Shopping Carts
Floor Ads
Personal Selling
Subway Tunnel Ads
DVDs
Video Game Ads
Interactive Kiosks
Cell Phone Ads
Movie Ads/Product Integration
Church Bulletin
Condo Newsletter
Local News Editions
Word of Mouth
Referral Fees/Loyalty Prgorams
Partnerships
Chamber of Commerce
Co-op Money
Coupons
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Public Relations Tools
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Promotion Example
Front
Back
Obtain Leads fromwww.mcaepa.org and
www.sjmca.org
Select Target
Design Mailer
Convert leads to a spreadsheet
Use Mail Merge and send out mailer
Initial Results 1 out of 252 response
.003300,000 in businessResidual Results Door
Opener for 20 new opportunities 8
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Press Release Example
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Promotion Exercise

• Determine your Promotion Mix
• Start to write a press release

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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.

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Target Market Examples
Useful Research Web Sites
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Bases for Segmenting Consumer Markets
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Bases for Segmenting Business Markets

• Geographic location
• Type of company
• User/Producer
• OEM
• Government
• Institutional

• Company size
• Volume of purchase
• Product use

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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

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Web Strategy
ChannelPlace
Promotion
AdvertisingPersonal SellingCustomer
ServiceCRMCouponsBrand AwarenessImage
TransactionsStore DisplayNavigationReduced
InventoryReduced Expenses
Web
Product
Product DevelopmentResearchAdded Value
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Web Limited Barriers to EntryPlus Economical
Benefits
Cost
Benefits

• Domain Name 10.00/yr
• Web Hosting 60 to 180/yr
• Web Hosting E-Commerce 120 to 600/yr

• Instant messages
• Enhance revenue Stream
• Unlimited changes
• Info 24/7
• Feedback
• Communications

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Building Site Traffic

• Free Offers
• Opt-in mailing list
• Loyalty Programs
• Whats 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

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Advertising

• 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 TIPSShow URL EverywhereCheck competitors
key wordsUse Page description TitleUse Alt
Image Tags
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Selling on the Web

• Shopping Cart
• Paypal Alternative
• Merchant Account
• Papal alternative
• EBAY, Amazon, Google, ETSY, Craigs List
• Social Marketing
• LinkedIn, My Space, Facebook, Twitter
• 101 Ways to Promote your Web Site

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Web Exercise

• Determine your Web Strategy

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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

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Courses of Action Exercise
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Implementation RemindersBe Specific and
Descriptive
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Implementation
Dos
Donts

• 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

• 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
Poor-PerformanceGeneral Nathaniel Ross Thompson
III
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Complete ImplementationThen prepare Executive
Summary
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Questions?????