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MARKETING CIM’s Global Coverage The Chartered Institute of Marketing • • • • • • World’s largest body of professional marketers Over 35,000 members Learning Networking Career development www.cim.co.uk CIM’s Global Coverage Bob Hogg Past career • Former employers: Beecham, Unilever • Prontaprint franchisee 1980-1997 • Regional Director, UK Marketing Director Current • Pointer Marketing (sole trader) • Partner, Marketing Ability LLP • Level Senior Examiner, CIM MARKETING = ? CIM’s Global Coverage Definition “ Future sales “ Responsibility of whole company The management process responsible for identifying, anticipating and satisfying customer requirements profitably. Understanding what they value Now Needs Sustainable The Chartered Institute of Marketing, 2010 CIM’s Global Coverage A three word definition S atisfying C ustomers P rofitably CIM’s Global Coverage Understanding customers CIM’s Global Coverage Putting together the customer offer CIM’s Global Coverage Communicating with customers CIM’s Global Coverage Jargon 7 Ps AIDA Boston Consulting Group matrix Brand positioning map Customer Lifetime Value Ansoff growth strategy matrix Loyalty ladder PESTLE Porter’s Five Forces Product Life Cycle Segmentation, Targeting and Positioning SOSTIC (Situation, Objectives, Strategy, Tactics, Implementation, Control) USP CIM’s Global Coverage Marketing Planning CIM’s Global Coverage Marketing Planning CIM’s Global Coverage Marketing Planning CIM’s Global Coverage Marketing Planning CIM’s Global Coverage Marketing Planning DO WE KNOW OUR CUSTOMERS? CIM’s Global Coverage Decision making process Individual influences Psychological factors: Group influences Recognition of problem • Motivation • Reference groups: • Attitudes • Learning • Social class • Family groups • Beliefs • Perceptions • Cultural groups Search for information Membership Aspirant Dissociative • D.M.U’s Evaluation of alternatives Environmental influences Purchase decision Marketing Mix influences • Social/cultural • Product • Technological • Place • Economic • Price • Ecological • Political • Legal • Ethical Post-purchase evaluation • Promotion + • People • Process • Physical evidence CIM’s Global Coverage Customers Are all customers the same? Are they all looking for the same thing? CIM’s Global Coverage Segmentation Segmentation is the process of breaking the market into smaller groups of people who exhibit similar needs. CIM’s Global Coverage Why segment? 1. Better matching of customer needs 2. Targeted communications 3. Retention of customers 4. Enhanced opportunities for growth 5. Enhanced profits CIM’s Global Coverage Bases for segmentation 1. Geographic 2. Demographic 3. Geo-demographic 4. Psychographic (Lifestyle; AIO analysis) 5. Behaviour (esp. benefits sought) CIM’s Global Coverage Behavioural segmentation Instead of focusing purely on customer characteristics, considers the relationship between customer and product using variables such as: 1. 2. 3. 4. Usage rate of product End use of product Loyalty towards product Benefits sought from product CIM’s Global Coverage Segmentation Think about the “benefits sought” as the problem the customer has that leads them to think about ordering print... CIM’s Global Coverage Who are your customers ? • • • • Get to know your customers Gather data Analyse your findings Profile your customers into groups CIM’s Global Coverage The 5 Ls Model CIM’s Global Coverage Products / Customers Customers / Markets Existing New Products / Services Existing New CIM’s Global Coverage Products / Customers Product Customers Existing Same Similar Sideways Existing Tweaked Twisted Twinkle CIM’s Global Coverage Products / Customers Product Existing Tweaked Customers Existing 1 2 3 Same Similar Sideways A B C D Twisted Twinkle DO WE HAVE THE RIGHT OFFERING? CIM’s Global Coverage The customer offering • 7 Ps Product Place Price Process People Physical evidence Promotion CIM’s Global Coverage Anatomy of a product CIM’s Global Coverage Place How easy is it for your customer to access your product/service? CIM’s Global Coverage Price £0.20 £0.31 £0.38 £0.53 What can you add to your offering that the customer values more than it costs you? £0.61 CIM’s Global Coverage Process Order processes Sales service After sales service Regular communication Complaint handling Think about the “customer journey” CIM’s Global Coverage People Do ALL of your people reflect the quality of your service offering? CIM’s Global Coverage Physical evidence Does everything the customer sees about you reflect the image you are trying to present? CIM’s Global Coverage Promotion Advertising Public relations Sales promotion Direct marketing Personal selling …it’s all about communication CIM’s Global Coverage The communication process Noise Encoding Sender Message Decoding Medium Noise Noise Feedback Receiver CIM’s Global Coverage Building your promotion mix • Which segment are you targeting? • What message do you want to convey? • How should you phrase it so that they understand? • Which media are relevant for your target audience? • How can you build in feedback? CIM’s Global Coverage Three questions to leave you with… • Do you REALLY understand your customers? • Does your offering solve their REAL problem? • Do you communicate in language that they REALLY understand? CIM’s Global Coverage Because getting real… …creates real competitive advantage