Marketing – The Bigger Picture
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Marketing is not merely advertsing, strategy is not merely marketing. Take a look at the birdseye view of marketing your organisation and the factors involved when doing this. This presentation was developed to educate business owners in the management process of marketing and the information required to create and develop a marketing strategy for their business.
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Marketing – The Bigger Picture
- 1. MARKETING – The Bigger Picture By Alex Beardsley – MCIM Chartered Marketer. The City Hub, Bradford. Tuesday 17th September 2013
- 2. Session Aim ‚To introduce you to the concept of marketing as a business process and provide you with key information to help you to develop your marketing strategies and plans.‛
- 3. Objectives By the end of today’s session I would like every learner to: • To know the difference between marketing and strategy. • Understand the standard principles of marketing. • Know the 4 questions of marketing strategy. • Be aware of the marketing planning process. • Know what makes up the ‘marketing environment’. • Complete a SWOT Analysis on their individual businesses. • Have a planning framework to build upon and
- 4. Getting to know you…. In pairs spend 5 minutes talking to each other and find out the answers to the following questions: • Name • Business • Background • What do they want to take away from today’s session?
- 5. Getting to know me… • Name – Alex Beardsley • Business – Talk Direct Marketing – Marketing Management Company for SME’s across the Yorkshire Region • Background – Chartered Marketer with a 1st Class Degree in Marketing – Worked for national and local businesses plus a full service marketing agency in Manchester – I have Two children 11yrs & 2yrs and a long suffering fiancé that I am marrying next year! • What do I want to take away from today’s session? – I want to meet the aims of the session and hope all learners take something relevant
- 6. Introductions In pairs spend 5 minutes talking to each other and find out the answers to the following questions: • Name • Business • Background • What do they want to take away from today’s session?
- 7. What is Marketing? Advertisi ng Sales PR Promotio ns Expensive
- 8. Marketing is… ‚Marketing is the management process responsible for identifying, anticipating and satisfying CUSTOMER requirements profitably.‛ – Chartered Institute of Marketing Definition
- 9. The way your company communicates what it does and how good it is. A product or service is only worth as much as your customers are prepared to pay for it. Where customers buy your product. Right place, right time…Shop versus Internet? The tangibles that create trust and certainty when delivering a service. Anyone that comes into contact with your customers will make an impression – Good or Find out what the customer wants and develop a product/service for Are your sales, customer service and service / product delivery processes customer focused? THE CUSTOMER
- 10. Strategy is…
- 11. Marketing strategy is… Marketing strategy is defined by David Aaker as a process that can allow an organization to concentrate its resources on the optimal opportunities with the goals of increasing sales and achieving a sustainable competitive advantage
- 14. Are we there yet? Where are we going? How will we get there? Where are we now?
- 15. Objectives • S • M • A • R • T Mission Corporate Objectives Marketing Objectives Grow revenue by 15% year on year over next 5 years Increase Yorkshire market share to 17% by 2015 Grow average customer spend by 5% by 2014 Work alongside Managing Directors to put the customer at the heart of every business and make their SME’s more profitable by doing so!
- 18. How will we get there?
- 19. What can we learn from the red and blue car?
- 20. Are we there yet?
- 21. Marketing is...... Market Researc h PlanPromoti on Intern al Extern al Metho ds Purpo se Tren ds Law Custom er Groups Competit ion SWOT PEST Tec h Secondary Websites, News, Accounts, Govt Stats, Trade Press Primary Surveys, Focus groups, Sampling, Interviews The 4 M’s Men Money Machines Material s Market Intellig ence Objectiv es Vision Purpo se Long Term Short Term Missi on Value s Goals S.M.A.R. T Operatio nal Profi t (£) Volu me Mark et Shar e? Who? What ? Why? Wher e? How Much? Custom er groups Produ cts Servic es Benefit s Added Value? Onli ne Retai l Outl et Whole sale Budg et Brand ing Databa se Advertis ing PR Sales Promot ion Persona l Selling Online Network ingPrint Pricin g © Alex Beardsley Talk Direct Marketing 2012
- 23. Credits and Copyright Thanks to for use of images and information: http://www.youngwebbuilder.com/what-is-swot-analysis/ http://skukre1.wordpress.com/2010/06/22/framework- %E2%80%93-growth%C2%A0strategies/ http://www.leadformix.com/blog/2012/08/marketing- budget-martoons/
- 24. Contact me....I love to chat, especially about all things marketing! Tweet me: @Alextalksdirect Follow me on Facebook: Search: talk direct marketing Search: Alex Beardsley
Notas do Editor
- Every one has their own individual perceptions of marketing.This is often based on past experiences – both positive and negative.Previous client that thought marketing was ‘BullShit’ in his words and when asked why….His answer was ‘Because I have spent £15,000 on adverts in the last year and none of them have worked’.Interesting…Let’s see what you have written on your post it’s – Has anyone had any positive or negative experiences with marketing.
- Marketing is a MANAGEMENT PROCESS – NOT an ACTION! You don’t ‘do’ marketing you develop it by:CUSTOMER is at the heart of operations – Understand their wants, needs and develop your products and services to satisfy those in order to make a profit.
- PROPER, PRIOR, PLANNING, PREVENTS, PISS, POOR, PERFORMANCE!PRODUCT: No point developing a product or services that no one wants but many businesses decide what to offer first and hope to find a market afterwards. Successful businesses find out what customer wants and tailor products / services to fit. – THINK JML full of products no one wants!PRICE: Must be competitive but not always the cheapest – Adding extra services to increase value to the customer allows you to increase prices i.e. Free monthly marketing review, 24 hour support…121 consultations, face to face - PRICING MUST PROVIDE A PROFIT – Only element that generates revenue – everything else is a COST to the business…Got to get this right. PRICE = POSITIONING = PERCEPTION! Lots of p’s PLACE: Customer surveys show that delivery performance is one of the criteria used when choosing a supplier – Look at ASOS and Next…Delivery before 9PM Same day…Talk about adding value to the customer and speeding up sales opportunities.PROMOTION: Good communication is two way…Communicate Consumer Benefits not just product features.PEOPLE: Affect customer satisfaction…PROCESSES: waiting times, information given to customers throughout the ‘Customer journey’ – Could create great competitive advantage.PHYSICAL EVIDENCE: A service can't be experience before it is delivered so how do consumer know to trust in order to pay the money? What are your clients buying? Testimonials, Case studies, Qualifications, What are we trying to achieve – Chocolate or Victoria SpongeWhat ingredients do we need?What proportion of those ingredients do we need to complete the job?ALWAYS START WITH THE CUSTOMER.No one element of the marketing mix should be done in isolation – This process is called marketing planning!
- WARMarketing Strategy – WIN the loyalty of customersOver the opposition of our competitorsIn an ever changing external environment
- .[1] Marketing strategy includes all basic and long-term activities in the field of marketing that deal with the analysis of the strategic initial situation of a company and the formulation, evaluation and selection of market-oriented strategies and therefore contribute to the goals of the company and its marketing objectives.[2]
- Sun Tzu – The Art of War written some 400BCKnow your enemy and know yourself and you can fight a hundred battles without disaster.Opportunities multiply as they are seized.Sun Tzu Read more at http://www.brainyquote.com/quotes/authors/s/sun_tzu.html#CJIESKqK2ZI5tYAI.99
- TO SIMPLIFY WE ASK OF OUR BUSINESS THE FOLLOWING QUESTIONS…Think of it like a journey….We need to understand our starting position and where we want to go in order to understand which route to take and how to get there…Like anything there are a number of options available think of the AA route planner you get the shortest, mid and longest routes, the ones without traffic, avoiding motorways etc. etc….I order to know which routes are best for us we need to set some perimeters and these are our objectives!
- Corporate Objectives come out of the Mission– The Raison Detre – The reason for being – Why the business exists at all and what business are we in…. What who howVision – BHAG the future is bright, the future is Orange…A world where everyone’s mobile hone is on the Orange network.A mission statement is a statement of the purpose of a company, organization or person, its reason for existing.The mission statement should guide the actions of the organization, spell out its overall goal, provide a path, and guide decision-making. It provides "the framework or context within which the company's strategies are formulated." It's like a goal for what the company wants to do for the world. [1]Specific It should be succinct, and absolutely clear what must be achieved.Measurable It should identify a means by which success/the KPIs can be measured, monitored and evaluated.So if, for example, your objective is in store traffic, you must have a target in store traffic figure to beat, by a set number or percentage, in a specified time period.Achievable (Actionable and Aspirational).It needs to provide some direction, a focus to the proposed action and be sufficiently changing to motivate staff/your agency/other suppliers.Realistic (Relevant and Responsible)It must be possible to achieve what you're asking to be achieved in the time AND with the budget that available.If there is any concern about this then raise it now, not when the campaign has finished, and has unsurprisingly not achieved its objective.Time period specific (and Targeted)The objective must be specific about the time period within which it should be achieved.
- Internal and External AnalysisCorporate Appraisal5 years hence…What will the market be like, what technology will be available, how will our customers have changed?How we can apply this to our business…Describe the company's current products or services.What are your annual sales? (value and volume)What is each product's share of the market?How does this market share compare to the competition?Describe important external conditions and/or trends impacting on your industry: Social, technological, economic, legal/regulatory, competitive, and institutional.Is the size of the market of your product category increasing or decreasing, and how fast? Why has the market remained stable or changed?Do these conditions create opportunities for your product/service?Do these conditions pose threats to your product/service?Look at technology now from 30 years ago…What affect has this had on businesses?NO ANALYSIS FOR PARALYSIS
- This helps to decide upon the competitive advantage that you will use in the marketplace.We have:Internal: Obviously this is anything that is to do with inside the business, such as employees, shareholders, partners, products etc..External: Competitors, business partnerships.Both can be good, and both can be bad. SWOT analysis is helpful to identify opportunities and negativities that may help/hamper your business.Literally, all we do is this:Internal:Strengths: We have a very nice and friendly team, we have years of computer experienceWeaknesses: None of the team are particularly good with finances. External:Opportunities: There is funding available from my bankThreats: There’s a guy down the road who is also offering computer repair, he is also cheaper, don’t ask me how, but imp not sure if I can compete with his low prices. I need to find a way of beating him without having to drop the price. As a result of our SWOT analysis, we can see that we need to find a way of attracting customers without dropping the price, or find a way of improving our business’s finances. We should invest in accounting software to help with our finances.“Everyday we are faced with a number of opportunities but it is our individual choice whether we act upon them or let them pass us by”. Alex Beardsley 2010
- Which way is best? – Strategic ChoiceThis is the Game PLAN in The Art of War – Accountants View when it comes to how to grow or increase profits – Sell more or cut costs…A marketers is much more agile…What you will do to get the largest growth/profits with the lowest risk.Options are:Market Penetration – Increased profits by increasing market share amongst current customers i.e. 2 for 1 promotions and incentives, market penetration – Coca-Cola – Share a cokeMarket Development – INCREASE NEW CUSTOMERS New customers to existing product lines. – New ways to use existing products I.e. Baking Soda – Many usesOR Target New Markets – McDonalds growth overseasProduct Development – Apple’s iPad, ipod, iphone 4, 5 etcetc Chargers changed…Everyone has the docking station now consumers have to go and buy a new one…What effect does this have on the brand…Any Apple Jumpers to Android?Diversification – Develops new products and pushes into new markets – Highest risk – Richard Branson – Always Diversifies. – Full research 1 32 4Based upon
- What can we learn from the red car and the blue car?Marketing strategy is a race…a race to the consumer and profiability…Understanding your goals and strengths and taking the right paths when the opportunity arises…ahead of the competition.
- Are you there yet?
- We have learnt a lot today and there is a lot to take in….Here is the marketing planning process outlining the individual areas and identifying some of the key questions and models you should use and when.To recap and go through the stages