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What is Marketing?
AMA Definition:Marketing is the activity, insight, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
What Does That Mean?Insights, strategies and tactics to understand what people and companies need and get them to buy it again and again!
8 Key Marketing Concepts
• Product/Service Offering
• Segmentation
• Value Proposition
• Marketing Plan & Metrics
• Social Networks
• Marketing is Warfare
• Pricing
• Branding
Across Value Chain
Aware Educate Engage Renew
Trade press/PR
Referral
Analyst sites
Complementary
site links
Advertising
Trade shows
Web
Message Boards
Webinars
Conferences
Social Media
Case Studies
Case studies
New Applications
Technology demos
Emails/ newsletters
RSS feeds
Promotions
New products
New partners
New applications
Referrals
Balancing Strategic and Tactical Programs
Strategic
Brand Development Product Portfolio Management
Market Strategy and Planning
Market
Assessment
Competitive
Positioning
Priority Planning
Channel Strategy
Partnerships
Acquisitions
Brand
Development
Brand Architecture
Brand Imagery
Tag Lines
Associations
Eco-System
Voice of the
customer
Product Strategy
Service Strategy
New Product
Development
Product
Management
Different Levels of Marketing• A goal is a broad primary outcome.• A strategy is the approach you take to achieve a goal.• An objective is a measurable step you take to achieve a strategy.• A tactic is a tool you use in pursuing an objective associated with a strategy.
Example for Intel’s line of Core processors:
Goal: Make our Core PC microprocessors a category leader in sales revenue by year X.Strategy: Persuade buyers that our Core processors are the best on the market by associating with large, well-established PC manufacturers.Objective: Retain 70 percent or more of the active worldwide PC microprocessor market, according to Passmark’s CPU benchmark report.Tactic: Through creative that underlies our messaging, leverage hardware partner brand awareness to include key messages about the Intel Inside program.
Measurement TemplateOrganization Department Goal Owner (A) Email
Telephone
Objective Typically two or three paragraphs long. What is trying to be accomplished. References – to specific
marketing plan element
Comments – additional information about the objective including Call to Action.
_______________________________________________________________________________________________________________________
Specific Tasks Start Completion Status R/Y/G
Metric name for Balanced
Scorecard or Executive
Dashboard
Metric Description – description of the measure, include
its intent, data source, and organization responsible for
providing measure data. This will appear in the pop-up
window when you mouse over the measure in the
Balanced Scorecard.
Data Source: how to get data
Metric Target
Metric Result
R/Y/G Corrective Action
Minimum Value ROMI (if applicable
Scorecard Perspective Name
Date
Confidential and Proprietary- for disribution only by consent of author
Marketing is Like WarfareConcept Military Model Marketing Model
Target Competitors =Enemies Customers are Friends Enemies = Competition
Purpose Destroy TargetCapture Terrain
Appeal to TargetDestroy CompetitionCapture Market Share
Strategy Flanking, Confront, Surprise, Offensive,Defensive, Positioning
Flanking, Confront, Surprise, Offensive,Defensive, Positioning
Tools Supply/LogisticsLoyal SoldiersExploit Weaknesses of Enemy
Demand/Supply ChainLoyal FansExploit Weaknesses of Competition
Attitude War/ Hatred Peace/Love
Weapons Ships, troops, missiles, drones, bombs
The Marketing Mix (7Ps)
What is Pricing?
Definition: What you think a product is worth to that customer at that time
• The amount you charge is based on several factors –uniqueness of product, available supply, demand, profit requirements, substitute products• Some pricing is negotiable while other pricing is fixed.• Pricing can be seasonal or time based (Christmas ornaments)• Pricing can be variable (Airlines)• Pricing can be temporary (rebates, incentives)• Pricing can be based to business model• Pricing can be tied to business cycles
4C’s of Pricing
What is the highest price I can charge and still make the sale?• Customers• Competitors
Am I willing to sell at that price?• Costs • Constraints
Once You Have a Brand
You need a process (marketing) to raise your profile and showcase your talents to
a wider audience
Exercise 2 - Marketing Your Brand
List 5 things you are going to do to generate more awareness, preference & promotion for
your personal brand?
1. _______________________________
2. _______________________________
3. __________________________________
4. __________________________________
5. __________________________________
What To Do Now!
• Build your personal brand and marketing plan.• Leverage your military experience through stories -personal and
SAR stories. Write them down, collect data, etc.• Many employers are vet-friendly. Take unfair advantage of their
open door.• Be passionate about what you want• Realize your competition are also strong leaders and managers, so
differentiate yourself in a more meaningful way• Invest in a well-written resume & cover letter• Begin to build your social networking profiles (starting with
LinkedIn)• Get comfortable with and start networking – friends, associates,
events, etc.• Enjoy the journey!