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Core Competency Training Marketing Module Linda Rossi, Vermont Greg Gould, Maine November 8, 2011 Wentworth by the Sea, NH

Core comps 2011_marketing_module 2 for attendees

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Page 1: Core comps 2011_marketing_module 2 for attendees

Core Competency TrainingMarketing Module

Linda Rossi, VermontGreg Gould, Maine

November 8, 2011Wentworth by the Sea, NH

Page 2: Core comps 2011_marketing_module 2 for attendees

Agenda

Welcome, Introductions, and ExpectationsMarketing Part I:

Overview and FundamentalsCase Study, Group Work, Discussion

LUNCH BREAKMarketing Part II:

More Topics Case Study, Group Work, Discussion

WRAP UP

Page 3: Core comps 2011_marketing_module 2 for attendees

Overview

Lots of talent – in this room!Best Practices – We have some.

You have some. Let’s share!

Insights/Challenges Marketing is a “BIG” topic SBDC organization relevance

Page 4: Core comps 2011_marketing_module 2 for attendees

Share

Marketing Insights

Marketing Challenges

Page 5: Core comps 2011_marketing_module 2 for attendees

Marketing – a big topic Product Development Marketing Strategy

Sales Public Relations Social MediaAdvertising Web Marketing Pricing

Supply Chain & Distribution Mobile MarketingBranding Services Marketing

Market Research Customer LoyaltyPromotion The Global Marketplace

Buyer Behavior E-Commerce Product Life CycleCompetitive Analysis Personal selling

Direct Marketing ?

Page 6: Core comps 2011_marketing_module 2 for attendees

Two Words, really…..

DIFFERENTIATION

CREATIVITY

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Differentiation, Creativity

Page 8: Core comps 2011_marketing_module 2 for attendees

Activity

Group – product brainstorming!

Think of some products that CREATIVELY solve problems, or provide a meaningful new twist to current market offerings.

Think of some ad campaigns that offer unique, memorable messages, tag lines, slogans, etc.

Page 9: Core comps 2011_marketing_module 2 for attendees

Fundamentals and Highlights

• Research: Sizing up the Market, Trends• Customer Needs and Wants• Pinpointing the Target Market• Power of the Brand: Positioning for

Competitive Advantage• Marketing Mix – 4 P’s “plus”• Life Cycle Implications• Online Strategies

Page 10: Core comps 2011_marketing_module 2 for attendees

CustomersWho are they?

Demographic, Psychographic elementsWhere are they?

Are there ENOUGH of them?Why will they buy from YOU?

Differentiation & CreativityHow will you reach them?

Promotional Mix, Schedule

Page 11: Core comps 2011_marketing_module 2 for attendees

Branding

What is it?Name, phrase, design, symbols…to identify products/services and distinguish you from others The promise to deliver!

Why do you need it?It’s a crowded marketplace. If you don’t, there’s a risk that others will do it for you!

GOOD BRANDING = CUSTOMER LOYALTY

Page 12: Core comps 2011_marketing_module 2 for attendees

Positioning

Choosing the “right” competitive advantage

Be number ONE on that attribute or benefit and STICK TO IT

Page 13: Core comps 2011_marketing_module 2 for attendees

Pricing

Where do you fall in the pricing continuum?Product qualityParticular expertiseLevel of service

What pitfalls do you often see with clients?

Page 14: Core comps 2011_marketing_module 2 for attendees

Competition

It is possible that you cannot compete with certain competitors in certain areas. You may not be able to compete with Wal

Mart on price.

However, there are always ways around that. Comprehensive knowledge of your

competitors will provide strategic insights.

Page 15: Core comps 2011_marketing_module 2 for attendees

Case Study – Start up

• Key Marketing Principles at “Start Up”• Profile - Handout – Group work• Task – Formulate Questions, Areas for

Advising• Group Feedback• Resources for your use with Clients

Page 16: Core comps 2011_marketing_module 2 for attendees

Four P’s “plus” PRODUCT PLACE PRICE PROMOTION

PACKAGING POSITIONING PEOPLE PROCESS PLACEMENT PARTNERS……………

Page 17: Core comps 2011_marketing_module 2 for attendees

LUNCH BREAK!

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Share

Resources, Books, Websites, Social Media groups, Blogs, Courses, and more…….

Peter Drucker

“The aim of marketing is to make selling superfluous”.

Page 19: Core comps 2011_marketing_module 2 for attendees

Life Cycle Implications

What’s different about the MARKETING conversation for someone……

IN business?

Page 20: Core comps 2011_marketing_module 2 for attendees

Online Strategies

Are the advertising goals different between conventional and electronic media?

Yes…why? No…why not?

Page 21: Core comps 2011_marketing_module 2 for attendees

Online Strategies

How are your customers reaching you?Stationary or mobile device?

Page 22: Core comps 2011_marketing_module 2 for attendees

Online Strategies

How are your customers finding you?

Google Places

Maps

Directions on website

Page 23: Core comps 2011_marketing_module 2 for attendees

Social Media Are your customers using Facebook, Twitter,

Blogs, YouTube, LinkedIn, etc.?

Why? Why Not?

Have a strategy! “Because everyone else is doing it…” is not a

strategy.

Page 24: Core comps 2011_marketing_module 2 for attendees

Facebook

Why are companies directing traffic to Facebook instead of their own website?

What demographic is experiencing the largest growth on Facebook?

How can you convert Facebook ‘Likes’ into sales?

Does Facebook foster customer loyalty?

Page 25: Core comps 2011_marketing_module 2 for attendees

Facebookwww.Facebook.com/Honda

Page 26: Core comps 2011_marketing_module 2 for attendees

TwitterWhat’s the strategy?

Page 27: Core comps 2011_marketing_module 2 for attendees

Blogs

Illustrates expertise Best tool for SEO

Let’s listen to an expert…

http://www.youtube.com/watch?v=3gPWC4B2rSk

Page 28: Core comps 2011_marketing_module 2 for attendees

YouTube

World’s 3rd most popular website Many people go here for instructions and

product reviews. Title your videos “How to…” Use competitor’s name in title.

“Why droid is better than iPhone” Link video to website. Embed video in

website.

Page 29: Core comps 2011_marketing_module 2 for attendees

QR Codes

What are they? App. is needed, but it’s free. Do not

Simply send people to your website. For that, just give them your URL.

Do Link to videos, ads, coupons…

Be creative Customers want QR codes to add value to the

experience. Make it fun!

Page 30: Core comps 2011_marketing_module 2 for attendees

Case Study – Established

• Key Marketing Principles at “Growth, Revitalization”

• Profile - Handout – Group work• Task – Formulate Questions, Areas for

Advising• Group Feedback• Resources for your use with Clients

Page 31: Core comps 2011_marketing_module 2 for attendees

Marketing Plans Preparing Your Clients -

One size DOESN’T fit all!

• Planning Tool• Operational Guide• Major Component of the Business Plan• Pitch to Investors

What are your experiences ?

Page 32: Core comps 2011_marketing_module 2 for attendees

Putting it Together

Integrated Marketing Strategies – Continuity, Clarity, Consistency, 24/7

Marketing is a “state of mind” Lifetime Customer Value

Page 33: Core comps 2011_marketing_module 2 for attendees

Wrap up

• Common themes – for your clients, your SBDC• Take-a-ways

Evaluations please……Thank You!

Contact Info: [email protected] [email protected]