Download Advanced Marketing for Micro

Advanced Marketing
for Micro-Businesses
What is ‘marketing’?
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Sales !!
Advertising !!
PR !!
Er… that’s it !!
• “Business has only two functions marketing and innovation.” Peter Drucker
Marketing is:
• The process of planning and executing the
conception, pricing, promotion, and distribution
of goods, services, and ideas to create
exchanges that satisfy individual and
organisation objectives.
In English
• Providing goods and services to satisfy
customer’s perceived needs, at a profit.
• First and every time.
The Four P’s
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Product
Price
Promotion
Place
Number 5: People
Product Breakdown
Guarantee
Augmented
Product
Branding
Actual
product
Core
product
Features
After sales
Core
Product
Price
• The price to be charged for products and
services should be determined in the light
of the prospect's likely cost-benefit ratio
and the financial ability to pay according to
the payment terms.
Promotion
• ‘Promotion’ is the toughest section in any
marketing strategy, given the information
explosion and the reduced time purchasers have
to consider any documentation.
• Segmentation is important to avoid a ‘scatter
gun’ approach
Place
• ‘Place’ deals with the distribution channels
by which your prospects will be able to buy
and receive your products and services.
Perceptual (positioning) maps
• Defining your target market
• Determines types of promotion
• Determines where to promote
Perceptual Map:
Daily newspapers
In-depth analysis
Low quality
Mass market
The Times
High quality
Up market
The Star
General comment and headlines
Segmentation
• The process of dividing the total market
for a product or service into smaller,
more manageable subsets or groups
of customers.
• www.healthadvantage-hmo.com
Considerations
• Measurable
– Can the buyers be identified
• Substantial
– Are there sufficient numbers to target
• Accessible
– Can this segment be contacted
• Relevant
– Is the product relevant to this segment
Targeting
• Using demographics and related
information in a customer database to
select the most appropriate recipients for a
specific campaign
• www.isoft.com
SWOT
• Strengths
• Weaknesses
• Opportunities
• Threats
Process
• Where are we now
• Where do we want to be
• How might we get there
• How will we know we have got there
Buyer’s Behaviour
• Who buys (the decision maker)
• How do they buy?
• When do they buy?
• Where do they buy?
• Why do they buy?
• The challenge is to understand how customers might
respond to the different elements of the marketing mix
that are presented to them.
Five Stage Buying Process
1.
2.
3.
4.
5.
Recognition of a need
Gather information
Evaluate the alternatives
Purchase
Post purchase evaluation
Marketing Communications
• Informing potential customers of your
organisation’s marketing using a number
of different methods know as the
marketing communications mix
Marketing Communications Mix
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Press
Radio
TV
Direct mail
WOM
Promotion
Branding
Advertising
Key Decisions
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Burst activity or continuity
Balance and combination of activity
Balance and combination of media
Evaluation
Direct Mail
• Mail shots
• Must have the right list (usually
quantitative research based)
• Use a broker or buy direct
• Make your own list
• www.royalmail.com
Word of Mouth
• Advertising that occurs when people share
information about products or promotions
with friends.
• How can the marketer control WOM?
• Influence key decision makers
• Create a ‘niche’ must have product
• Appeal to a particular group (green issues)
Say what you mean
Branding
A name, term, sign, symbol or design,
or a combination of these, intended to
identify the goods or services of the
seller or group of sellers, and to
differentiate them from a competitor.
E- marketing
• Marketing via the Internet.
• Entry cost barriers are lowered.
• National borders are removed.
Internet
• Email
• Web presence
• Maintenance
Email
• [email protected]
• [email protected]
Web presence
• Design (message) not an IT function
• Message strategy – what do you want to
say to them
• Targeting the audience – whom are you
trying to reach?
• Search engine optimisation
Maintenance
• Regular updating.
• Be careful not to leave out of date
information on your web site.
• Layout can become dated very quickly.
www.centa.co.uk