Marketing 101 Watershed Institute

March 24, 2015 Prof. Matthew Weber

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Workshop Agenda

• Introductions

• Overview of Marketing, Advertising, Branding

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• Basics of a Marketing Plan

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• Tactics and Marketing in Practice

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Objectives

• To get you thinking about ways you can improve your marketing efforts

• To provide you with a deeper understanding of the importance of marketing planning, and to provide you with an overview of how you can develop marketing plans

• To provide you with easy-to-use tactics to improve your specific marketing campaigns

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OVERVIEW

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What is media?

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21st Century Marketing & Advertising

• Rise of targeted media – 21st century invention or evolving pattern?

• Newspapers?

• Radio?

• TV?

– Shift to small-scale marketing opportunities • Social media

• Word-of-mouth

• Guerilla-style marketing

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touchpoints

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What is a brand?

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What is a brand?

“a name, term, sign symbol, or design,

or a combination of them, intended to

identify the goods or services of one

seller or group of collers and to

differentiate them from those of

competitors.” (AMA, 2008)

Six levels of meaning

attributes

benefits

values

culture

personality

user

What is marketing?

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What is marketing?

• Traditional Approach

– Selling & Advertising (one part)

– What else? • Product

• Place

• Promotion

• Price

• Customer Satisfaction

– What do you think it means for non-profits?

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The Product Element

• What is the product? – Where are you in your product lifecycle?

• Marketers… – Position

– Differentiate

– Brand

• Name

• Words

• Symbols

• Design

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Common marketing problems

• How can we identify and choose profitable market segments?

• How can differentiate our offer from our competition?

• How should we react to competitors? (should we react?)

• How can we satisfy our customers and build brand loyalty?

• How can we measure the effectiveness of an ad campaign, of Public Relations, of a promotion, etc…?

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Strategy vs. Tactics

• Strategy is means to accomplish goal, e.g., awareness goal will be met by advertising

• Tactics pertains to the implementation, e.g., media schedule, agency, message, etc. – how to, by whom, by when, with what resources

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What is advertising?

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#FirstWorldProblems

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Monitors & Controls

• 74% of consumer product firms have explicit sales promotion tactics – Only 36% monitor

• 69% of industrial firms have explicit sales tactics – Only 46 % monitor

• Only 1 in 4 firms has a contingency plan – Both good and bad events (e.g., competitor merges or leaves)

– What ifs and appropriate trigger points

29 Source: Conference Board

BASICS OF MARKETING PLANNING

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Why do a marketing plan?

• Develop a strategic document that can guide your marketing for 2 – 5 years – Insures consistency even in the case of turnover / disruptions

– Helps to build a strong brand

• Makes a case for funding – Avoids the “one-off” problem

• Communicates marketing across the organization – Shift from “marketing as a cost center” to “marketing as a organization wide

initiative”

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The Marketing Plan

• Where are we now?

• Where do we want to be?

• How do we get there?

• Contains: – Executive Summary

– Situation Analysis

– Marketing Objectives

– Strategy and Tactics

– Monitors and Controls

– Financial Documents

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Marketing Plans 101

• Table of Contents – Executive Summary

– Situation analysis

– Market Analysis & Strategies

– Tactical Plans

– Appendices

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Situation Analysis (the 5C’s)

• Review of Status and Future Outlook – Not just data, but implications

– Brevity, prioritization of information

– Diagnostic, not descriptive

• 5C’s – Customer

– Company

– Context

– Collaborators

– Competitors

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Market analysis and strategies

• STP – Segmentation

– Targeting

– Positioning

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Tactical Plans

• The 4Ps – Product

– Price

– Place

– Promotion

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Appendices

• Include your backup data

• Include summaries of research – Primary – focus groups, surveys, etc.

– Secondary – industry reports, trends

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MARKETING IN PRACTICE

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Stages of Market Research

• Problem Definition (analyze)

• Approach to Problem

• Research Design

• Field Work

• Data Preparation & Analysis

• Report Preparation & Presentation

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Conducting Marketing Research

• Online surveys – Basic survey elements and pitfalls

• Avoid open ended questions

• Avoid overlapping categories

• Avoid double-barrel questions

• Have someone test your survey!

– Use a free online survey

• Qualtrics.com and surveymonkey.com

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Tactics

• Create an impactful brand image – Consider using freelance services

• 99designs.com

• Search – Purchasing keywords and placing ads

– Google Adwords (adwords.google.com)

• Digital – Determine how tactics match strategy

– Only invest time if you can sustain the commitment

• Social – Engage and advertise

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Driving Website Relevance

• Consider an online design resource – Moonfruit.com

– Squarspace.com

• Increase search presence – Keywords on websites

– Linking to others, and having others link to you

• Leverage networks

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Thank You!

Matthew Weber

Assistant Professor, Department of Communication

Rutgers University

matthew.weber@rutgers.edu

848-932-8718

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