Marketing in a nutshell

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What is marketing?What are the marketing objectives ?What are the marketing activities ?

Text of Marketing in a nutshell

  • Marketing In a nutshell r echnica T l t Marketing WalkFom T l ak o
  • Agenda What is Marketing ? Marketing Activities Competitive Analysis Market ResearchFrom Technical Talk to Marketing Walk
  • What is Marketing ?From Technical Talk to Marketing Walk
  • What is Marketing ?"Next to doing the right thing the most important thing is to let people know you are doing the right thing." John D. Rockefeller Simply stated marketing is everything you do to place your product or service in the hands of potential customers From Technical Talk to Marketing Walk
  • Marketing Objectives Regardless of product, the marketing objective isto reach the targeted customerwith the appropriate messages that answer its needs From Technical Talk to Marketing Walk
  • Marketing Position in an Organization Bridging The Gap From Technical Talk to Marketing Walk
  • Marketing Position in an Organization The Human Body Metaphor The Heart is connected to all human organs It is responsible for supplying the body with oxygenated blood through blood vessels In a similar way the marketing is connected to the entire company pumping information and materials and feeding from marketing inputs Development Product definition and monitoring Sales Marketing communications, training, assisting and getting feedbacks Management Market & product strategic view From Technical Talk to Marketing Walk
  • Marketing Types Offline (traditional) Marketing Offline marketing refers to the strategies that are used to market a product or service offline such as Printed material, Ads, commercials and more Word of mouth - one of the most powerful forms of advertising on the planet. The best word of mouth comes from satisfied customers Online (Internet) Marketing Internet marketing refers to the strategies that are used to market a product or service online such as, web site & search engine optimization, online promotions, direct emails, blogs and more Social Networks marketing refers to engaging with customers and gaining attention and traffic through the various social network platforms such as facebook, twitter etc. From Technical Talk to Marketing Walk
  • Marketing ActivitiesFrom Technical Talk to Marketing Walk
  • Marketing Activities Marketing activities are numerous and variedbecause they basically include everything needed to get a product off the drawing board and into the hands of the customer From Technical Talk to Marketing Walk
  • Marketing Activities In A Nut Shell Knowing the market/customer Developing a marketing/product strategy Defining the product so it will be desirable to customers Creating marketing material Promoting the product so potential customers will know about it Marketing can vary significantly based on business size, corporate culture, industry context etc. From Technical Talk to Marketing Walk
  • Marketing Activities Knowing the Market/CustomerMarketing is all about understanding your customers needs and developing a plan that surrounds those needs From Technical Talk to Marketing Walk
  • Marketing Activities Knowing the Market/Customer What is the need answered by the product ? What is the target market ? Size, growth, seasonality, profitability, threats, opportunities What are the environmental factors ? Political, economical, regulatory, social, timing Who are the target customers ? Location, segments, preferences Who is the competition ? . From Technical Talk to Marketing Walk
  • Marketing Activities Developing a Marketing Strategy Marketing strategy one of the biggest factors which determines the success or failure of your business Identifies the company marketing goals, and explains how they will be achieved within a stated timeframe. The result is a marketing plan A Written plan, which determines the choice of target market segment, positioning, marketing mix, and allocation of resources Combines product development, promotion, distribution and pricing approach From Technical Talk to Marketing Walk
  • Marketing Activities Marketing Plan Marketing plan should include at least the following topics: Market Segmentation division of the market into consumer groups (based on application, location ) Positioning - a clear, unique, and advantageous position in the consumers mind Value proposition for the customer - The unique value that is offered to the customers. Its why he will want to do business with you Differentiation from competitors- Drawing attention to distinct, unique features, aspects and qualities that distinguish one from competitors. Targeting how do we target the particular segments Placement - Distribution Channels to the targeted customers Promotion - Marketing communication plan: Trade shows, Web site, Public Relations, brochures, advertising, White papers Pricing list price, discounts, bundling , special offers From Technical Talk to Marketing Walk
  • Marketing Activities Defining the product Product definition is a critical starting point in the development of any new product Translating customer needs into a technical set of product requirements that can be acted upon by Engineering Functionality - technical characteristics, performance requirements Life cycle costs Look & Feel ergonomics, styling and aesthetics, dimensions, packaging, ease of use Operating environment or conditions of use Reliability and servicing Robustness ... From Technical Talk to Marketing Walk
  • Marketing Activities Creating Marketing Collaterals First step: Messaging Defining market, company & product messages to be implemented in all marketing collateral Differentiators & value proposition per every application/market segment Setting a consistent and coherent basis for all marketing collateral Next step: implementation setting your footprint in the market Company profile, brochures & datasheets Marketing documents - Case studies, white papers, presentations Web site Flash / Videos Posters & advertisement From Technical Talk to Marketing Walk
  • Marketing Activities Promoting the Product Letting potential customers know about your product through Marketing Communications (MARCOM) Branding - The marketing practice of creating a name, symbol or image that identifies and differentiates a product, service or a company PR - public relations using the media (traditional and Internet based) for press releases, articles, advertisements etc. Opinion leaders consultants, analysts Personal mailings Exhibitions Conferences Customer events, road shows From Technical Talk to Marketing Walk
  • Competitive AnalysisFrom Technical Talk to Marketing Walk
  • If you are ignorant of both your enemy and yourself, then you are a fool and certain to be defeated in every battle. If you know yourself, but not your enemy, for every battle won, you will suffer a loss.If you know your enemy and yourself, you will win every battle. Sun Tzu (the great Chinese military strategist) - Art of War - ~500 BC From Technical Talk to Marketing Walk
  • Knowing the Market Competitive AnalysisAn assessment of the strengths and weaknesses of current and potential competitors From Technical Talk to Marketing Walk
  • Competitive Analysis Who are the competitors? Competitor strengths and weaknesses How do their prices compare to yours? How do you plan to compete ? From Technical Talk to Marketing Walk
  • Competitive Analysis Who are your competitors? How are they doing overall? Financial status Market share What are their competitive product ? What is their positioning ? What are their sales channels ? From Technical Talk