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Entrepreneurial mind sets
By Hany Sewilam AbdelHamidBy Hany Sewilam AbdelHamid | Dubai Media City @2017
The Marketing Mix
Overview of marketing
No matter how much you might love your idea,
there’s no point in taking it any further if
nobody else is going to love it.
That’s where good old marketing comes in.
Overview of marketing
Here are just a few of the questions that you’re
going to need to answer:
•Would your “target market” actually want this?
•What is your Unique Selling Point?
•Where will they buy from me?
•Have you thought about the price or fee you can
charge?
•Is it going to be worth your while?
•What type of marketing will work best for you?
•Where and when and how are you going to
market it?
What is marketing?
Identifying and satisfying your customers’ needs at a profit
Selling
Marketing Mix (4 Ps)
Market Research
MARKETINGPROCESS
Marketing mix - The four P’s of Marketing
Goods or services provided by a businessPRODUCT
PRICE
PROMOTION
PLACE
Where customers can buy products/services or
how products/services are distributed
Amount charged for products and services
How a business creates awareness in the market
Market planning is about getting the right balance
between the four marketing Ps. Different marketing
mixes can be used for different target customers.
Products and services must appeal to potential
customers. You have to ensure there is demand for
your product and state what is unique about it.
Factors to consider:
• Customer needs and wants
•Product mix / portfolio
•Features and benefits
•Quality
•Appearance
•Market position
•Costs
•Profit margin
•Product shelf life
PRODUCT
Features Benefits
Greek yogurt is nutritious and packed
with protein
Choosing Greek yogurt makes you
healthies and more satisfied
This phone case is made with layers of
carbon fibres and reinforced plastic
With this case your phone could survive
any fall
Just add to only add water, stir and cook Requires minimal kitchen time and labour
Free shipping Saves you money
Wig – made from real hair More durable
The features are great ways to define what a product is, but the
benefits speak right to the people buying your product, and
communicate how the product makes their lives better.
PRODUCT
USPs
The ‘Unique Selling Points’ of a product/service
states clearly the features and benefits that make
your product or service different from your
competitors. For example, is it made of better quality
materials? Is it more prestigious? Or the only one of
its kind on the market? Your product may share
certain features with similar items, for example, all
fruit drinks include fruit and are drinkable. The
unique benefit of your product may be that it’s
proven to improve your skin. This would be your USP
if it’s the only fruit drink on the market that can do
this.
PRODUCT
Examples of USPs:
•Unique function or feature
•Higher specification
•Unique design
•Technical feature
•Better quality
•Locally sourced materials
PRODUCT
Find your niche
The creative, digital and performing arts
industry has plenty of businesses offering
similar or the same product and it can be
especially hard for consumers to
differentiate between all the options.
The truth is, no matter how talented you
are and no matter how awe-inspiring your
art may be, some consumers may not be
able to tell the difference, and when faced
with a choice, they will almost always
choose the most convenient option.
PRODUCT
What niche?
Find your niche
This is why you need to find a niche product/service, something
that others aren’t offering, something that will make you and
your business unique and recognisable – make is stand out from
the crowd!
Maybe that means focusing on portraits if you are an
accomplished painter, or 3D designs if you are a graphic artist.
No matter what the niche is, you should try to find one. That
doesn’t mean you can’t include your other art in your business,
but you may find a much more passionate customer base if you
specialise in one type of art and become known for your ability
to create that one type of art.
PRODUCT
PLACE
Where will customers buy your work?
There are now many different options for you to sell your
products as a designer or maker. You can sell direct to the
public through markets, pop-ups and online shops, or you
can sell through established retailers, boutiques and
galleries.
Show & Sell - Ways of selling your creative products:
• Work from home
• Porta cabin
• Directly at specific events -
exhibitions, open studios, pop-
up shops, markets and catwalk
shows
• Online marketplace i.e. Etsy,
eBay, Not on the High Street
• E-commerce website
• Shop
• Wholesale via galleries, shops
or at trade shows
• Van / mobile sales
• Through re-sellers
• Rented workshop space i.e. for
workshops
• Directly to private collectors or
through commission
• Customer’s premises
• Innovation/start up hub
• Unit at a Local Enterprise
Agency
• Unit at an industrial park
PLACE
Factors to consider
•Cost
•Reliability of distribution channel
•Customer location
•Convenience
PLACE
Factors to consider
•Cost
•Reliability of distribution channel
•Customer location
•Convenience
PLACE
PRICE
It is vital that you understand the relationship between
price, cost and profit. This is outlined below:
PRICE PROFIT
What is costs to make
including time, materials
and overheads
What you can charge in
the market place
based on value and
cost
= Price - cost
PRICE
Things to consider:
•Competition - what competitors charge for similar
products or services
•Cost to produce it
•Set at a level that the market will accept
•Is it a luxury or mass market item?
Don’t undervalue
your product or your
time
PRICE
The dynamics of the creative sector do not necessarily
always operate in the same way as for businesses in other
sectors in the economy. The creative sector is based on
‘symbolic goods’ (films, plays, music) where value is
essentially dependent on the audience/consumer finding
value in their meanings – so value is dependent on audience
perception as much as creative content, which may or may
not translate into a commercial return.
Think profit!
The price of your product or service must include both the
costs to produce it and the additional costs associated with
selling it.
PROMOTION
If your business is invisible, it
can't progress, so letting your
target market know about what
your business does and how it
can benefit them is one of the
most important keys to success.
The internet is making it more
and more possible and,
importantly, less expensive, to
reach customers directly. And
there are many effective 'offline'
methods which can provide a
very valuable complement to
your online activities.
Marketing
Communications
Mix
Advertising
Sales
Promotion
Events &
Experiences
PR &
Publicity
Direct
Marketing
Interactive
Marketing
Personal
Selling
PROMOTION
Offline Promotional Methods
•Personal selling i.e. networking
•Free samples
•Word of mouth
•Signage
•Demonstrations
•Sales promotion i.e. BOGOF
•Advertising i.e. business cards
•Stationary i.e. Invoices, letter heads
•Publicity i.e. press releases, competitions
PROMOTION
Online Promotional Methods
•Social media i.e. Facebook, Twitter, Instagram and Pinterest
•Facebook competitions and promotions
•Blogs
•Videos
•Website (include gallery to showcase images of your work)
•Email marketing i.e. Mailchimp (free and easy to use)
The balance of a promotional mix will depend on the
marketing objectives, business type, target market and
promotional budget.
PROMOTION
Choosing a promotion method
Choosing the right method of promotion for a
business can be difficult. There are many factors to
consider such as:
•the target audience
•effectiveness
•message
•budgets and costs
•methods available
•timing
•legal issues
•graphic design ability
What? How? When? Costs?
PROMOTIONAL PLAN
PROMOTION
Choosing a promotion method
Be clear about the purpose of the promotion
method e.g. to create an awareness of a product
or service. Consider how competitors promote
their businesses and look for best practice
methods.
Monitor the impact of a promotional method
carefully. This can be done by asking customers
how they heard about the business and calculating
the number of sales generated by a promotional
method. promotional activity should be planned
carefully.
PROMOTION
Factor Some issues to consider
Branding Logos, colours, trademarks
Appearance Graphics, colour, images, print finish
Message Text, font, grammar, slogans, USPs
Printing Specifications, paper quality, quantity
Costs Printing, graphic designer
Legal Intellectual property, advertising regulations
AIDA Attention, Interest, Desire, Action
Social Media
Creative entrepreneurs can benefit from
using social networking systems such as
Flickr, YouTube, Facebook, Twitter,
Instagram and Pinterest. They are the
equivalent of the ‘small talk’ which happens
in face to face business networking and
meetings.
It is these snippets of information which help
people to bond, like each other and build
trust between them. The message must be
right for the medium and so in contrast with
business websites, the information on social
networking sites is more personal, the
atmosphere is more ‘laid back’, and the
etiquette more informal.
Social Media
• Pinterest
• Instragam
• Facebook
• Snapchat
• Twitter
• YouTube
• Flickr
• Google+
• LinkedIn
Top tips - Social Media
Social media will come naturally to young, creative
people, so use this to network and reach out to
people online.
As an artist, you can use Facebook to keep up with
other creative people and to follow mentors and
creative groups. Twitter is really useful: not for
direct selling, necessarily, but just to make contact
with people in the creative, performing and digital
arts industry.
As a designer or artist products are visual by nature.
Instagram and Pinterest are a perfect fit to display
your work and visual inspiration.
Top tips - Social Media
For many people, image-focused social media channels
are less time and energy draining than Twitter and
Facebook.
Social networks like Twitter, Facebook, Pinterest,
YouTube, Blogs and Instagram are cheap and potentially
effective tools to promote your work and establish a
voice as an artist. They are also a great way of keeping
people up-to-date about your projects.
Keep your personal life separate from your business
contacts i.e. create a Facebook business page for your
new creative enterprise. This allows you to post on
Facebook and interact with other users without giving
them access to your personal Facebook account.
Top tips
Website
A website can serve as a virtual portfolio of your work.
Add some personal information so that customers can
relate to you and become impressed by your
accomplishments.
Videos and blogging are also great ways to promote a
creative enterprise.
Build up a contact list to stay in touch with previous
clients and other creatives.
Top tips
Talk to people - Go out and talk to anybody, you never
know where help may come from.
Having a website, blog and online shop is so easy now
that you don’t have to invest lots of money to get
something out there.
Congratulations
You are now MARKETER
Hany Sewilam AbdelHamid - 2017Hany Sewilam AbdelHamid - 2017

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The Marketing Communication MIX | August 2017

  • 1. Entrepreneurial mind sets By Hany Sewilam AbdelHamidBy Hany Sewilam AbdelHamid | Dubai Media City @2017 The Marketing Mix
  • 2. Overview of marketing No matter how much you might love your idea, there’s no point in taking it any further if nobody else is going to love it. That’s where good old marketing comes in.
  • 3. Overview of marketing Here are just a few of the questions that you’re going to need to answer: •Would your “target market” actually want this? •What is your Unique Selling Point? •Where will they buy from me? •Have you thought about the price or fee you can charge? •Is it going to be worth your while? •What type of marketing will work best for you? •Where and when and how are you going to market it?
  • 4. What is marketing? Identifying and satisfying your customers’ needs at a profit Selling Marketing Mix (4 Ps) Market Research MARKETINGPROCESS
  • 5. Marketing mix - The four P’s of Marketing Goods or services provided by a businessPRODUCT PRICE PROMOTION PLACE Where customers can buy products/services or how products/services are distributed Amount charged for products and services How a business creates awareness in the market
  • 6. Market planning is about getting the right balance between the four marketing Ps. Different marketing mixes can be used for different target customers.
  • 7. Products and services must appeal to potential customers. You have to ensure there is demand for your product and state what is unique about it. Factors to consider: • Customer needs and wants •Product mix / portfolio •Features and benefits •Quality •Appearance •Market position •Costs •Profit margin •Product shelf life PRODUCT
  • 8. Features Benefits Greek yogurt is nutritious and packed with protein Choosing Greek yogurt makes you healthies and more satisfied This phone case is made with layers of carbon fibres and reinforced plastic With this case your phone could survive any fall Just add to only add water, stir and cook Requires minimal kitchen time and labour Free shipping Saves you money Wig – made from real hair More durable The features are great ways to define what a product is, but the benefits speak right to the people buying your product, and communicate how the product makes their lives better. PRODUCT
  • 9. USPs The ‘Unique Selling Points’ of a product/service states clearly the features and benefits that make your product or service different from your competitors. For example, is it made of better quality materials? Is it more prestigious? Or the only one of its kind on the market? Your product may share certain features with similar items, for example, all fruit drinks include fruit and are drinkable. The unique benefit of your product may be that it’s proven to improve your skin. This would be your USP if it’s the only fruit drink on the market that can do this. PRODUCT
  • 10. Examples of USPs: •Unique function or feature •Higher specification •Unique design •Technical feature •Better quality •Locally sourced materials PRODUCT
  • 11. Find your niche The creative, digital and performing arts industry has plenty of businesses offering similar or the same product and it can be especially hard for consumers to differentiate between all the options. The truth is, no matter how talented you are and no matter how awe-inspiring your art may be, some consumers may not be able to tell the difference, and when faced with a choice, they will almost always choose the most convenient option. PRODUCT What niche?
  • 12. Find your niche This is why you need to find a niche product/service, something that others aren’t offering, something that will make you and your business unique and recognisable – make is stand out from the crowd! Maybe that means focusing on portraits if you are an accomplished painter, or 3D designs if you are a graphic artist. No matter what the niche is, you should try to find one. That doesn’t mean you can’t include your other art in your business, but you may find a much more passionate customer base if you specialise in one type of art and become known for your ability to create that one type of art. PRODUCT
  • 13. PLACE Where will customers buy your work? There are now many different options for you to sell your products as a designer or maker. You can sell direct to the public through markets, pop-ups and online shops, or you can sell through established retailers, boutiques and galleries.
  • 14. Show & Sell - Ways of selling your creative products: • Work from home • Porta cabin • Directly at specific events - exhibitions, open studios, pop- up shops, markets and catwalk shows • Online marketplace i.e. Etsy, eBay, Not on the High Street • E-commerce website • Shop • Wholesale via galleries, shops or at trade shows • Van / mobile sales • Through re-sellers • Rented workshop space i.e. for workshops • Directly to private collectors or through commission • Customer’s premises • Innovation/start up hub • Unit at a Local Enterprise Agency • Unit at an industrial park PLACE
  • 15. Factors to consider •Cost •Reliability of distribution channel •Customer location •Convenience PLACE
  • 16. Factors to consider •Cost •Reliability of distribution channel •Customer location •Convenience PLACE
  • 17. PRICE It is vital that you understand the relationship between price, cost and profit. This is outlined below: PRICE PROFIT What is costs to make including time, materials and overheads What you can charge in the market place based on value and cost = Price - cost
  • 18. PRICE Things to consider: •Competition - what competitors charge for similar products or services •Cost to produce it •Set at a level that the market will accept •Is it a luxury or mass market item? Don’t undervalue your product or your time
  • 19. PRICE The dynamics of the creative sector do not necessarily always operate in the same way as for businesses in other sectors in the economy. The creative sector is based on ‘symbolic goods’ (films, plays, music) where value is essentially dependent on the audience/consumer finding value in their meanings – so value is dependent on audience perception as much as creative content, which may or may not translate into a commercial return. Think profit! The price of your product or service must include both the costs to produce it and the additional costs associated with selling it.
  • 20. PROMOTION If your business is invisible, it can't progress, so letting your target market know about what your business does and how it can benefit them is one of the most important keys to success. The internet is making it more and more possible and, importantly, less expensive, to reach customers directly. And there are many effective 'offline' methods which can provide a very valuable complement to your online activities. Marketing Communications Mix Advertising Sales Promotion Events & Experiences PR & Publicity Direct Marketing Interactive Marketing Personal Selling
  • 21. PROMOTION Offline Promotional Methods •Personal selling i.e. networking •Free samples •Word of mouth •Signage •Demonstrations •Sales promotion i.e. BOGOF •Advertising i.e. business cards •Stationary i.e. Invoices, letter heads •Publicity i.e. press releases, competitions
  • 22. PROMOTION Online Promotional Methods •Social media i.e. Facebook, Twitter, Instagram and Pinterest •Facebook competitions and promotions •Blogs •Videos •Website (include gallery to showcase images of your work) •Email marketing i.e. Mailchimp (free and easy to use) The balance of a promotional mix will depend on the marketing objectives, business type, target market and promotional budget.
  • 23. PROMOTION Choosing a promotion method Choosing the right method of promotion for a business can be difficult. There are many factors to consider such as: •the target audience •effectiveness •message •budgets and costs •methods available •timing •legal issues •graphic design ability What? How? When? Costs? PROMOTIONAL PLAN
  • 24. PROMOTION Choosing a promotion method Be clear about the purpose of the promotion method e.g. to create an awareness of a product or service. Consider how competitors promote their businesses and look for best practice methods. Monitor the impact of a promotional method carefully. This can be done by asking customers how they heard about the business and calculating the number of sales generated by a promotional method. promotional activity should be planned carefully.
  • 25. PROMOTION Factor Some issues to consider Branding Logos, colours, trademarks Appearance Graphics, colour, images, print finish Message Text, font, grammar, slogans, USPs Printing Specifications, paper quality, quantity Costs Printing, graphic designer Legal Intellectual property, advertising regulations AIDA Attention, Interest, Desire, Action
  • 26. Social Media Creative entrepreneurs can benefit from using social networking systems such as Flickr, YouTube, Facebook, Twitter, Instagram and Pinterest. They are the equivalent of the ‘small talk’ which happens in face to face business networking and meetings. It is these snippets of information which help people to bond, like each other and build trust between them. The message must be right for the medium and so in contrast with business websites, the information on social networking sites is more personal, the atmosphere is more ‘laid back’, and the etiquette more informal.
  • 27. Social Media • Pinterest • Instragam • Facebook • Snapchat • Twitter • YouTube • Flickr • Google+ • LinkedIn
  • 28. Top tips - Social Media Social media will come naturally to young, creative people, so use this to network and reach out to people online. As an artist, you can use Facebook to keep up with other creative people and to follow mentors and creative groups. Twitter is really useful: not for direct selling, necessarily, but just to make contact with people in the creative, performing and digital arts industry. As a designer or artist products are visual by nature. Instagram and Pinterest are a perfect fit to display your work and visual inspiration.
  • 29. Top tips - Social Media For many people, image-focused social media channels are less time and energy draining than Twitter and Facebook. Social networks like Twitter, Facebook, Pinterest, YouTube, Blogs and Instagram are cheap and potentially effective tools to promote your work and establish a voice as an artist. They are also a great way of keeping people up-to-date about your projects. Keep your personal life separate from your business contacts i.e. create a Facebook business page for your new creative enterprise. This allows you to post on Facebook and interact with other users without giving them access to your personal Facebook account.
  • 30. Top tips Website A website can serve as a virtual portfolio of your work. Add some personal information so that customers can relate to you and become impressed by your accomplishments. Videos and blogging are also great ways to promote a creative enterprise. Build up a contact list to stay in touch with previous clients and other creatives.
  • 31. Top tips Talk to people - Go out and talk to anybody, you never know where help may come from. Having a website, blog and online shop is so easy now that you don’t have to invest lots of money to get something out there.
  • 32. Congratulations You are now MARKETER Hany Sewilam AbdelHamid - 2017Hany Sewilam AbdelHamid - 2017