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Overview
How do you define success? What business are you in? What are the features & benefits? Which customers do you care about? Devising appropriate marketing communications Setting sales & marketing
What is your motivation for starting a business? What skills & resources do you need? How do you define success?
When customers buy make-up they buy hope When customers buy pen & paper they buy communication
Benefit tempts the unwary & reminds them why they prefer to chocolate bourbons
Sustainable regular buyers, pay a price which enables a profit to you Accessible you can afford the cost of marketing to them Measurable you know when youve reached them
Design/fashion house Department store Independent retail Agent/intermediary Multiple retailer Specialist outlet International buyer
Independent Retailers in the UK offering a mix of well known brands and new designers with Subdivide each broad category a homogeneous X into focus on groups and
target each group separately
Take a stand at 40degrees In the course of the show make contact with X buyers, Y journalists and win B prize Follow up from the show with personalised letters to all people met and succeed in arranging 10 meetings
Customers Income Age Geographic distribution Depth of interest One off vs. long term customer
Customers with a history of interest in X, who buy regularly through preferred outlets and also attend invitation only functions
Do
Look at the world from customers perspectives List the benefits to the customer List the unique benefits Cherish the features that are important to you
Review
Your sort of customer Cost of new customers Not your sort of customer Patterns of success & rejection
Sustainable regular buyers, pay a price which enables a profit to you Accessible you can afford the cost of marketing to them Measurable you know when youve reached them
Adoption Curve
Lunch
Your Goals
S M A R T
Clearly defined Measurable Do-able in a few months Relevant to you and your customers That you have the time, money & resources to achieve
Next 3 years
an outline e.g. attend 3 international trade fairs detailed e.g. take stand at 100% Design using your network of contacts to make the next steps preparing for activities later in the year
Markets or Illusions?
Puff of smoke ghosts & other apparitions
Market fails to materialise technical, political, financial reasons
Inseparability
cant be separated from the service provider
Heterogeneity
variability in quality of delivery
Perishability
cant be stored
Ownership
no transfer of property
Product Lifecycles
Evaluating Results
How do you know your marketing is working? How could you build evaluation mechanisms into
Final checks
Your marketing map what have you learnt Highlight the areas of further work Action lists Final questions
A Reading List:
The Tipping Point, Malcolm Gladwell The marketing plan (a pictorial guide for managers), Malcolm McDonald
& Peter Morris
The Structure of Scientific Revolutions, Thomas Kuhn Sold (how to make it easy for people to buy from you), Martin
Colleran
&
Do your own PR, Milton NLP in 21 days, Alder & Heather Breaking Through, Vandermerwe