Download Marketing Management

1
MARKETING MANAGEMENT
THE MARKETING PROCESS
Ron Padavich
Director
Strategic Marketing Services / University of Northern Iowa
Marketing Management
2
What is Marketing Management?
Proprietary to Strategic Marketing Services
What Is Marketing Management?
3
The process of planning and executing the
conception, pricing, promotion, and distribution of
ideas, goods, and services that satisfy individual and
organizational objectives.
It is the entire organization and a product or service
from conception to the end of its useful life!
Proprietary to Strategic Marketing Services
What is Marketing?
4
The process of creating customers for your
product/service.
Proprietary to Strategic Marketing Services
How Do You Increase Market Size?
5




Sell more to current customers
Sell new products/services to current customers
Find new customers for current offerings
Offer new products/services to new customers
Proprietary to Strategic Marketing Services
Today’s Discussion
6
1.
2.
3.
4.
Marketing Management at SMS
Strategic Planning
Market Research
New Technology – Eye Tracking
Proprietary to Strategic Marketing Services
7
MARKETING MANAGEMENT
OF SMS
THE MARKETING PROCESS
Ron Padavich
Director
Strategic Marketing Services / University of Northern Iowa
Who We Are
8



Self-supporting, Fee-based University enterprise
Started in 1990
Five professional market researchers
Proprietary to Strategic Marketing Services
What We Do
9



Market Research
Marketing Strategies
Strategic Planning
Proprietary to Strategic Marketing Services
Who We Serve
10

For Profit Businesses
 Entrepreneurs



Fortune 500 Companies
Non-profit Organizations
Government Agencies
Economic Development Corporations
Proprietary to Strategic Marketing Services
Strategic Marketing Services
11
Over 300 clients in diverse markets
•
Alliant Energy
•
Cummins/Onan
•
Riverside Publishing
•
Avery-Dennison
•
Ecolab
•
Siemens Industries
•
American Tool
•
John Deere
•
•
Bausch & Lomb
•
Johnson & Johnson
The Nature
Conservancy
•
Cargill
•
Kimball International
•
Yellow Freight
•
Century 21
•
Lincoln Savings Bank
•
CNS-BreatheRight®
•
Maytag Appliances
•
Wheaton Franciscan
Healthcare
•
Mercury Marine
•
Nissan Industrial
Proprietary to Strategic Marketing Services
Our Team
12




Director – Over 20 Years
Senior Program Manager – Over 20 years
Program Managers (3) – 2, 14 & 15 years
Students
Proprietary to Strategic Marketing Services
Core Competencies
13





Market Characterization, Segmentation &
Positioning
New Product/Service Development
Customer Satisfaction/Loyalty
Competitive Intelligence
Strategic Opportunity Assessments (Market penetration,
market development, product development, diversification)

Strategic Planning
Proprietary to Strategic Marketing Services
Methodologies
14






Surveys (Phone, Online, Mail)
Research Panels
Facilitated Planning Sessions/Discussion Groups
Focus Groups (Online or In-person)
In-depth Interviews
Eye Tracking Technology
Proprietary to Strategic Marketing Services
Types of Projects
15













Attitudinal
Brand Awareness
Voice of the Customer
Concept Testing
Product Configuration
Competitive Intelligence
Pricing
Prototype Evaluations
Go-To-Market Advertising/Communications
Insight Generation, Ideation, Workshop Facilitation
Technology Adoption
Channel Evaluation
Strategic Thinking
Proprietary to Strategic Marketing Services
16
SMS MARKETING
HOW WE MANAGE THE PROCESS
What Makes Us Different
17

Small Boutique Firm
Motivated by quality over quantity
 Performance over profit
 Full client pipeline – Pick and Choose







Access to UNI Intellectual Capital
Higher Response Rates – University Affiliation
University Credibility
Student Opportunities
Access to Incentive Funds
Qualify for Grants (Iowa Energy Center, Power Fund, etc.)
Proprietary to Strategic Marketing Services
Our Challenges
18


Small – Fill up fast
University Tie Perceptions
Free
 Student Program


Competition
Name Brand Firms
 Global Players
 Low Price Providers
Client Personnel Changes
Long Sales Cycle



Proprietary to Strategic Marketing Services
Pricing Strategies
19




Clients Outside Iowa: Cost +
Iowa Clients: Cost + Minus Incentive
Iowa Grants: Cost
Federal Grants: Cost and allowed overhead
Proprietary to Strategic Marketing Services
Marketing/Sales Strategy
20
Past: Out-Bound - Sales







Cold Phone Calls
Sales Trips
General Trade Shows
Advertising-Publications
Referrals
Trade Listings
Internet Non-existent
Present: In-Bound - Marketing







Warm Phone Calls
No Sales Trips
Select Trade Shows
No Advertising
Referrals
Trade Listings
Internet Mktg. - HubSpot
Proprietary to Strategic Marketing Services
21
SMS MARKETING SALES
STRATEGY
Typical MR Sales Process
22







Awareness- It exists
Education – What can it do?
Benefits
Convince of the need
Budget – Do they have one?
Get them to agree to spend the money
Keep them focused
Proprietary to Strategic Marketing Services
SMS Primary Target Market
23

Large U.S. companies who do market research on a
regular basis, do so because they:
 Understand
it
 Value
it
 Know what to expect
 Know what it costs
Proprietary to Strategic Marketing Services
SMS Secondary Market
24

Iowa Companies (Required)
 Hard
Sell
 No
MR experience
 Don’t want to spend money
 Prefer trial and error
 Difficult to get them from awareness stage to project
 Incentives have limited impact
 SMS spends lots of time for small return
Proprietary to Strategic Marketing Services
SMS Third Market
25

Grants
 Seldom
desired
 Time
investment to respond to RFP
 Competing against other non-profits
 Not profitable – pay low, expect a lot
 Long time-frame
 RFP does not reflect total expectations
 Reporting requirements
 Difficult to break even
Proprietary to Strategic Marketing Services
Things We Watch For
26

Unsolicited RFPs/Inquiries
 Price
Shoppers
 Window Shoppers- DIY
 Keeping other supplier honest
Proprietary to Strategic Marketing Services
Qualifying the Prospect
27



How did you find out about us?
Why did you choose to call us?
Have you done market research before?
 How

often, with who, and why not using them now?
Do you have a budget allocated for the project?
Proprietary to Strategic Marketing Services
28
SMS SUMMARY
SMS Mission Statement
29
SMS is a boutique market research firm that employs
a small staff of highly skilled, dedicated researchers
who expertly serves the needs of a select group of
forward looking clients. We value quality over
quantity. For us, nothing is more invigorating than
seeing our clients use the market intelligence we
provide in successful ways.
Proprietary to Strategic Marketing Services
Our Approach
30




What is the client trying to achieve?
What information do they need?
Who has the information?
What is the best methodology to get the
information?
Proprietary to Strategic Marketing Services
31
MARKETING
Marketing
32
The primary purpose of a business is to sell a product
or service!
All types and sizes of businesses share one thing in
common – the need to secure ready, willing and able
customers!
Proprietary to Strategic Marketing Services
Marketing Vs. Selling
33


Marketing – Focuses on the buyer. What needs do
you have and how can I help you?
Selling – Focuses on the seller. I have a product you
need to buy.
Proprietary to Strategic Marketing Services
My Experience
34





Most companies are reactionary.
They do not manage marketing well.
They do not take action until sales decline and
cause significant pain.
They prefer to do business as usual.
They fail when they do not understand the changing
market, customer expectations, and the need to
provide competitive value.
Proprietary to Strategic Marketing Services
What is Needed?
35
1.
Comprehensive Strategic Plan
Where are you going, how will you get there, when
will you arrive?
2.
Market Research
Why will people buy what you have to sell?
3.
Marketing Strategy
How will you tell people about what you have
to offer and convince them to buy?
Proprietary to Strategic Marketing Services
36
STRATEGIC PLANNING
What Is Strategic Planning?
37

Strategic Planning Is A Systematic Way to Manage
Change and Create the Best Possible Future
 Optimizes
potential
 Takes
all the pieces of the organization and puts them in one
common direction.
 Focuses
resources to support desired results
 Identifies

and commits the resources necessary to succeed.
People, money, equipment, etc.
Proprietary to Strategic Marketing Services
Strategic Planning Process
38

Addresses the following:
 Who
you are
 What you do
 Who you serve
 Where you want to go
 When you want to arrive
Proprietary to Strategic Marketing Services
Strategic Vs. Tactical
39


Strategic – Long-term, process oriented
Tactical – Short-term, day-to-day
Proprietary to Strategic Marketing Services
Strategic Plan
40

Considers:
 Customers
 Competitors
 Investors
 Employees
 Internal
& External Environments
 Regulations
 Operations
 Markets
Proprietary to Strategic Marketing Services
Strategic Plan - Vision
41

Vision Statement
 Long-term
view
 A verbal picture of the future
 Should be realistic and achievable
“If you can imagine it you can achieve it”
Proprietary to Strategic Marketing Services
Sample - Vision Statements
42

Anheuser-Busch
“ Be the world’s beer company”

Avon
“Be the company that best understands and satisfies the
product, service and self-fulfillment needs of women –
globally”
Proprietary to Strategic Marketing Services
Mission Statement
43

What you are about:
 Corporate
Commitment
 Employees
 Customers
 Vendors
 Community
 Environment
 Technology
How you run your business on a day-to-day basis
Proprietary to Strategic Marketing Services
Sample - Mission Statement
44

Bristol-Myers Squibb
“To discover, develop, and deliver innovative
medicines that help patients prevail over serious
diseases.”
Proprietary to Strategic Marketing Services
st
1
Step - Where We Are Today
45










Finances
Profitability
Customer Assessment
Competition
Technology Assessment
Supplier Issues
Employee Issues
Production Issues
Regulations
Economy
Proprietary to Strategic Marketing Services
2nd Step- SWOT Analysis
46




Strengths (Competitive advantage)
Weaknesses
Opportunities
Threats
Proprietary to Strategic Marketing Services
Goals
47

Define the day-to-day focus of the business:
 Sales
& Profitability
 Motivated employees
 Satisfied customers & suppliers
 Efficiency
 Quality
 Innovation
 Production
These are the things that make the business operate
Proprietary to Strategic Marketing Services
Objectives
48

Support Goals
 Specific
 Measurable
 Achievable
 Results
oriented
 Time specific
Proprietary to Strategic Marketing Services
Action Plans
49

Actions that achieve objectives and ultimately goals
 Specific
logical sequence of steps that will be taken
 Assigned responsibility
 Date for completion
 Resources Allocated
Proprietary to Strategic Marketing Services
Results of Strategic Planning
50

Strategic Alignment
 Control
destiny
 Forecast problems and solutions
 Better understand all aspects of your business
 Make better decisions
 Align resources
Proprietary to Strategic Marketing Services
Strategic Plan Outline
51








Vision
Mission
Goals
Objectives
Actions steps
Responsibility
Time frames
Budget
Proprietary to Strategic Marketing Services
52
MARKET RESEARCH
What is Market Research?
53
Market Research is the process of collecting and
analyzing information to answer specific questions.
Proprietary to Strategic Marketing Services
Business Success
54
 MR
is an essential ingredient in developing an effective
marketing strategy and a thorough understanding of
consumers’ needs and wants.
Proprietary to Strategic Marketing Services
Why Do MR?
55

Understand the market/customer
 Needs
 Motivation
 Willingness
to pay
 Barriers
 Competition
 Identify
opportunities
 Identify what is not working
Proprietary to Strategic Marketing Services
Two Types of MR
56


Business – to – Business
Business – to – Consumer
Proprietary to Strategic Marketing Services
Applying The 4 P’s
57

Product/Service Related Issues
 Desirability
of Specific Features
 Purchase Decisions
 Motivations
 How
often
 Competitive
Comparisons
 Substitution Comparisons
Proprietary to Strategic Marketing Services
Applying The 4 P’s
58

Pricing Related Issues
 Acceptable
price points
 Price sensitivity
 Competitive pricing
Proprietary to Strategic Marketing Services
Applying The 4 P’s
59

Place (Distribution)
 Best
methods
 Competitor distribution methods
 New/alternative distribution methods
 Cost comparisons
 Supply chain
Proprietary to Strategic Marketing Services
Applying The 4 P’s
60

Promotion
 Logo
Development Testing
 Effective Advertising Media
 Advertising Testing
 Competitor Advertising
 Packaging Considerations
Proprietary to Strategic Marketing Services
Why?
61

Marketing Research helps you make better
informed and less risky decisions
 Marketing
research helps execute your strategic plan
 Marketing research helps drive decision-making
 Marketing research helps to reduce risk
 Marketing research helps to develop a competitive
strategy and win customers
Proprietary to Strategic Marketing Services
MR Methodologies
62

Quantitative Research
 FAX
Surveys
 Mail Surveys
 Mail Panels
 Telephone Surveys
 Personal Interviews
 Web-based Surveys

Qualitative Research
 In-Depth


Interviews
Telephone
Face-to-Face
 Intercept
Interviews
 Focus Groups
 Observation
 Experimental
Proprietary to Strategic Marketing Services
63
THANK YOU