Introduction to marketing for business link - John Taylerson

An introduction to marketing

John Taylerson, CM, DipM, MBA

CIM South West Food & Drink Ambassador

www.taylerson.co.uk www.malmesburysyrups.co.uk

an introduction to marketing

What is marketing?

Marketing is ‘the management process responsible

for identifying, anticipating and satisfying customer requirements profitably’

Customer demand management-The future of the business bit-


What questions should I be asking myself about my business?

• What business am I in? (the real competition)

• Who are my customers?

• Who should be my customers?

• Who are my competitors, are they better than me,

and, if so, why?

• Do I know where I am going? If not, how will I

know if, and when, I get there?


A different perception of ‘marketing’

Marketing is often seen by small businesses as equivalent to selling and marketing communications (brochures, promotional activity, advertising, PR, website)

Marketing is about ensuring you have demand for your products and services now and in the future- and that you can match the demand- profitably!


How can marketing help my business?

• Help you understand your customers• Help you win new customers• Help you understand your competitors• Help you find opportunities and grow your

business• Tell you the ‘direction’ that the market (customers)

is taking


Where do I start?

Consider:• Customer satisfaction

– Goals and objectives– Marketing audit– Resources – 7 Ps



Goals and objectives

Goal• What type of company are you and where do you want your

business to be in five years time?Objectives• What do you want to achieve? Try to make yours SMART

objectives– Specific– Measurable– Achievable– Relevant– Timely


1 Product

• What do customers want to buy?• Can you deliver the right product or service to

meet your customers’ needs?• Can you deliver the right quality of service?• Does your product or service provide value for the

customer?

Its not about selling what you make- its about making what people want to buy


How to make your products and services work for you

• Quality• Prices• Service• Delivery• Quantity• What benefits does your

product/service offer

Different- are you?


2 Price

• Price is often the definer of market position- where does your product or service sit within

• Value- what does it ‘feel’ like• Too cheap might be worse than too expensive• Differentiate the offer- get off the issue of price

– Provenance – ‘add-on’s’ – Size etc.


volume

Value High

Low


What customers will pay- v-

what it costs to produce• Gross margin• Product costs• Net margins

Do you know the difference between the following costs..– Sunk– Fixed– Variable


Value for you, the supplier Which customers are profitable?

Price obtained vs;

• Cost of acquisition – how long before the ‘return’

• Cost of retention – keeping them

• Cost of servicing – are they profitable?


3 Place

• The place where customers buy a product and the means of distributing your product to that place must be appropriate and convenient for the customer

• The product must be available in:– The right place– At the right time – In the right quantity

• Restock- replenish – merchandising etc.


4 Promotion

• Communicate what you do and what you can offer to your customers

• It is designed to:– Gain attention– Be appealing– Tell a consistent message (branding)– Explain the benefits – Be a two-way communication


5 People

• Anyone in your company/organisation who comes into contact with your customers will make an impression, and they can have a profound effect – positive or negative – on customer satisfaction

• The reputation of your brand rests in your people’s hands

• They must be appropriately trained, well motivated and have the right attitude


6 Process• Process underpins service• Process is the first experience of a company that

many customers have (handling an enquiry, obtaining a quote, quality of the follow-up etc)

• This ‘P’ could be a great source of competitive advantage if used wisely (check out how well your main competitor performs so you have a benchmark against which to judge your own capabilities)

Customers only notice process when its not there!


7 Physical evidence• A service needs to be experienced• Help potential customers to ‘see’ what they are

buying• Offer case studies and customer testimonials• Let new or potential customers see your facilities

(if appropriate) e.g. invite them to your offices, show room, factory. Let them meet key contacts so they know who they speak to when ordering

Did the product get delivered!


How to beat your competitors

• Who is/are your main competitor/s?• What do they do that is different from you?• Do you share customers or are they different. If

so why?• Is your product/service affected by changes in the

political or general environment?Marketing provides simple models that test the thinking

and keep you wise to customers and competitors


• For more useful advice for small businesses wanting to build on their marketing knowledgewww.cim.co.uk/sme

• For more information about our

Small-Business Community

visit www.cim.co.uk/sbc • Register at cim.co.uk for

market interest groups and local meetings

Find out more


To find out more contact your regional director or ambassador

South West

Regional DirectorChristine [email protected]

Regional ambassadorRichard [email protected]

Bristol & West Branch chairJane [email protected]

South West

Regional Food & Drink AmbassadorJohn Taylersonswfood&[email protected]

www.taylerson.co.uk

www.malmesburysyrups.co.uk