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26.05.10 - 'Everything you wanted to know about marketing' workshop Speaker: John Taylerson CIM - Introduction to Marketing
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An introduction to marketing
John Taylerson, CM, DipM, MBA
CIM South West Food & Drink Ambassador
www.taylerson.co.uk www.malmesburysyrups.co.uk
an introduction to marketing
What is marketing?
Marketing is ‘the management process responsible
for identifying, anticipating and satisfying customer requirements profitably’
Customer demand management-The future of the business bit-
an introduction to marketing
What questions should I be asking myself about my business?
• What business am I in? (the real competition)
• Who are my customers?
• Who should be my customers?
• Who are my competitors, are they better than me,
and, if so, why?
• Do I know where I am going? If not, how will I
know if, and when, I get there?
an introduction to marketing
A different perception of ‘marketing’
Marketing is often seen by small businesses as equivalent to selling and marketing communications (brochures, promotional activity, advertising, PR, website)
Marketing is about ensuring you have demand for your products and services now and in the future- and that you can match the demand- profitably!
an introduction to marketing
How can marketing help my business?
• Help you understand your customers• Help you win new customers• Help you understand your competitors• Help you find opportunities and grow your
business• Tell you the ‘direction’ that the market (customers)
is taking
an introduction to marketing
Where do I start?
Consider:• Customer satisfaction
– Goals and objectives– Marketing audit– Resources – 7 Ps
an introduction to marketing
an introduction to marketing
Goals and objectives
Goal• What type of company are you and where do you want your
business to be in five years time?Objectives• What do you want to achieve? Try to make yours SMART
objectives– Specific– Measurable– Achievable– Relevant– Timely
an introduction to marketing
1 Product
• What do customers want to buy?• Can you deliver the right product or service to
meet your customers’ needs?• Can you deliver the right quality of service?• Does your product or service provide value for the
customer?
Its not about selling what you make- its about making what people want to buy
an introduction to marketing
How to make your products and services work for you
• Quality• Prices• Service• Delivery• Quantity• What benefits does your
product/service offer
Different- are you?
an introduction to marketing
2 Price
• Price is often the definer of market position- where does your product or service sit within
• Value- what does it ‘feel’ like• Too cheap might be worse than too expensive• Differentiate the offer- get off the issue of price
– Provenance – ‘add-on’s’ – Size etc.
an introduction to marketing
volume
Value High
Low
an introduction to marketing
What customers will pay- v-
what it costs to produce• Gross margin• Product costs• Net margins
Do you know the difference between the following costs..– Sunk– Fixed– Variable
an introduction to marketing
Value for you, the supplier Which customers are profitable?
Price obtained vs;
• Cost of acquisition – how long before the ‘return’
• Cost of retention – keeping them
• Cost of servicing – are they profitable?
an introduction to marketing
3 Place
• The place where customers buy a product and the means of distributing your product to that place must be appropriate and convenient for the customer
• The product must be available in:– The right place– At the right time – In the right quantity
• Restock- replenish – merchandising etc.
an introduction to marketing
4 Promotion
• Communicate what you do and what you can offer to your customers
• It is designed to:– Gain attention– Be appealing– Tell a consistent message (branding)– Explain the benefits – Be a two-way communication
an introduction to marketing
5 People
• Anyone in your company/organisation who comes into contact with your customers will make an impression, and they can have a profound effect – positive or negative – on customer satisfaction
• The reputation of your brand rests in your people’s hands
• They must be appropriately trained, well motivated and have the right attitude
an introduction to marketing
6 Process• Process underpins service• Process is the first experience of a company that
many customers have (handling an enquiry, obtaining a quote, quality of the follow-up etc)
• This ‘P’ could be a great source of competitive advantage if used wisely (check out how well your main competitor performs so you have a benchmark against which to judge your own capabilities)
Customers only notice process when its not there!
an introduction to marketing
7 Physical evidence• A service needs to be experienced• Help potential customers to ‘see’ what they are
buying• Offer case studies and customer testimonials• Let new or potential customers see your facilities
(if appropriate) e.g. invite them to your offices, show room, factory. Let them meet key contacts so they know who they speak to when ordering
Did the product get delivered!
an introduction to marketing
How to beat your competitors
• Who is/are your main competitor/s?• What do they do that is different from you?• Do you share customers or are they different. If
so why?• Is your product/service affected by changes in the
political or general environment?Marketing provides simple models that test the thinking
and keep you wise to customers and competitors
an introduction to marketing
• For more useful advice for small businesses wanting to build on their marketing knowledgewww.cim.co.uk/sme
• For more information about our
Small-Business Community
visit www.cim.co.uk/sbc • Register at cim.co.uk for
market interest groups and local meetings
Find out more
an introduction to marketing
To find out more contact your regional director or ambassador
South West
Regional DirectorChristine Boswell-Mundaycbm.daytwo@btopenworld.com
Regional ambassadorRichard Storeyswsbg@cim.co.uk
Bristol & West Branch chairJane Silkmarketing@maturetimes.co.uk
South West
Regional Food & Drink AmbassadorJohn Taylersonswfood&drink@cim.co.uk
www.taylerson.co.uk
www.malmesburysyrups.co.uk
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