logging in or signing up Marketing Plan aSGuest55623 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 618 Category: Entertainment License: All Rights Reserved Like it (1) Dislike it (0) Added: July 20, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: urlookinggood (7 month(s) ago) Thanks, very good Saving..... Post Reply Close Saving..... Edit Comment Close By: DiaaDh (12 month(s) ago) very nice Saving..... Post Reply Close Saving..... Edit Comment Close By: earladrian (19 month(s) ago) can you provide me a copy of this presentation I really need this presentation. thank you so much. Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Slide 1: Building a Powerful Marketing Plan Slide 2: Building a Guerrilla Marketing Plan Marketing The process of creating and delivering desired goods and services to customers. Involves all of the activities associated with winning and retaining loyal customers. D&B Study Just 1 in 5 small companies creates a strategic marketing plan. Most common sales method: Walk-in traffic. Slide 3: Building a Guerrilla Marketing Plan Guerrilla marketing strategies Unconventional, low-cost creative marketing techniques that allow a small company to wring more bang from its marketing bucks than do larger rivals. Do not have to spend large amounts of money to be effective. Example: Greg Norton Carpet cleaning and Kimmel athletics Slide 4: A Guerrilla Marketing Plan Pinpoints the specific target markets the company will serve. Determines customer needs and wants through market research. Analyzes a firm’s competitive advantages and builds a marketing strategy around them. Creates a marketing mix that meets customer needs and wants. Slide 5: Pinpointing the Target Market One objective of market research: Pinpoint the company's target market, the specific group of customers at whom the company aims its products or services. Marketing strategy must be built on clear definition of a company’s target customers. Mass marketing techniques no longer work. Slide 6: Pinpointing the Target Market Target customer must permeate the entire business – merchandise sold, background music, layout, décor, and other features. Without a clear image of its target market, a small company tries to reach almost everyone and ends up appealing to almost no one! Slide 7: Market Research Market research is the vehicle for gathering the information that serves as the foundation for the marketing plan. Never assume that a market exists for your company’s product or service; prove it! Market research does not have to be time consuming, complex, or expensive to be useful. Web-based market research – online surveys Trend-tracking Slide 8: Market Research Market research is the vehicle for gathering the information that serves as the foundation for the marketing plan. Never assume that a market exists for your company’s product or service; prove it! Market research does not have to be time consuming, complex, or expensive to be useful. Web-based market research – online surveys Trend-tracking Slide 9: Relationship Marketing(Customer Relationship Management) Involves developing and maintaining long-term relationships with customers so that they will keep coming back to make repeat purchases. Esamples: The Continental Bistro (before they closed) Slide 10: Relationship Marketing(Customer Relationship Management) Steps: Collect meaningful customer information and compile it in a database. Mine the database to identify “best” customers. Use the information to develop lasting relationships with “best” customers. Attract more customers who fit the “best” customer profile. Stay in contact with customers between sales. Slide 11: Four Levels of Customer Sensitivity Level 1: Customer Awareness. Prevailing attitude: “There’s a customer out there.”Managers and employees know little about their customers and view them only in themost general terms. No one really understands the benefit of close customer relationships. Level 2: Customer Sensitivity. A wall stands between the company and its customers.Employees know a little about their customers but don’t share this information withothers in the company. The company does not solicit feedback from customers. Level 3: Customer Alignment. Managers and employees understand the customer’s central role in the business. They spend considerable time talking about and withcustomers, and they seek feedback through surveys, focus groups, customer visits, andother techniques. Level 4: Customer Partnership. The company has embraced a customer service attitudeas an all-encompassing part of its culture. Customers are part of all major decisions. Employees throughout the company routinely use data mining reports to identify the best customers and to serve them better. The focus is on building lasting relationshipswith the company’s best customers. Slide 12: Unique Selling Proposition A key customer benefit of a product that sets it apart from its competition. Answers key customer question: “What’s in it for me?” Consider intangible or psychological benefits as well as tangible ones. Communicate your USP to your customers often. Slide 13: Building a Brand High Low Low High Differentiation Relevance “Antes” Features that are important to customers but all competitors provide them Every company in the market must “ante up” on these features. “Drivers” Features that are both important to customers and are highly differentiated from those of competitors These are the attributes on which a company must focus to build its brand. “Fool’s Gold” Features that are unique to your company but do not drive customers’ loyalty to your product and services Don’t make the mistake of trying to build a brand on these features! “Neutrals” Features that are irrelevant to customers These features are useless when it comes to branding. Slide 14: Guerrilla Marketing Strategies Find a niche and fill it. Don’t just sell; entertain. Strive to be unique. Create an identity for your business. Connect with customers on an emotional level. Slide 15: Guerrilla Marketing Strategies(continued) Focus on the customer. Devotion to quality. Attention to convenience. Concentration on innovation. Dedication to service and customer satisfaction. Emphasis on speed. Slide 16: Focus on the Customer 67 percent of customers who stop patronizing a business do so because an indifferent employee treated them poorly. 96 percent of dissatisfied customers never complain about rude or discourteous service, but... 91 percent will not buy from that business again. 100 percent will tell their “horror stories” to at least nine other people. 13 percent of those unhappy customers will tell their stories to at least 20 other people. Slide 17: Focus on the Customer Companies that are successful at retaining their customers constantly ask themselves (and their customers) four questions: 1. What are we doing right? 2. How can we do that even better? 3. What have we done wrong? 4. What can we do in the future? Slide 18: Devotion to Quality Study: 60 percent of customers who change suppliers do so because of problems with a company’s products or services. World-class companies treat quality as a strategic objective, an integral part of the company culture. The philosophy of Total Quality Management (TQM): Quality in the product or service itself. Quality in every aspect of the business and its relationship with the customer. Continuous improvement in quality. Slide 19: How Do Americans Define Quality in a Product? Reliability (average time between breakdowns) Durability (how long an item lasts) Ease of use Known or trusted brand name Low price Quality Slide 20: How Do Americans Define Quality in a Service? Tangibles (equipment, facilities, people) Reliability (doing what you say you will do) Responsiveness (promptness in helping customers) Assurance and empathy (conveying a caring attitude) Slide 21: Attention to Convenience Is your business conveniently located near customers? Are your business hours suitable to your customers? Would customers appreciate pickup and delivery services? Do you make it easy for customers to buy on credit or with credit cards? Slide 22: Attention to Convenience Are your employees trained to handle business transactions quickly, efficiently, and politely? Does your company offer “extras” that would make customers’ lives easier? Can you bundle existing products to make it easier for customers to use them? Can you adapt existing products to make them more convenient for customers? Does your company handle telephone calls quickly and efficiently? Slide 23: Concentration on Innovation Innovation The key to future success. One of the greatest strengths of entrepreneurs. It shows up in the new products, techniques, and unusual approaches they introduce. Entrepreneurs often create new products and services by focusing their efforts on one area and by using their size and flexibility to their advantage. Slide 24: Dedication to Service Listen to customers. Define “superior service.” Set standards and measure performance. Examine your company’s service cycle. Hire the right employees. Train employees to deliver superior service. Goal: to achieve customer astonishment! Slide 25: Dedication to Service Empower employees to offer superior service. Treat employees with respect and show them how valuable they are. Use technology to provide improved service. Reward superior service. Get top managers’ support. View customer service as an investment, not an expense. Goal: to achieve customer astonishment! (continued) Slide 26: Emphasis on Speed Use principles of time compression management (TCM): Speed new products to market Shorten customer response time in manufacturing and delivery Reduce the administrative time required to fill an order. Study: Most businesses waste 85 to 99 percent of the time required to produce products or services! Slide 27: Emphasis on Speed Re-engineer the process rather than try to do the same thing - only faster. Create cross-functional teams of workers and empower them to attack and solve problems. Set aggressive goals for production and stick to the schedule. Slide 28: Emphasis on Speed Rethink the supply chain. Instill speed in the company culture. Use technology to find shortcuts wherever possible. Put the Internet to work for you. Slide 29: The Marketing Mix Product Place Price Promotion Slide 30: Stages in the Product Life Cycle Introductory stage Slide 31: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Slide 32: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Maturity and competition stage Slide 33: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Maturity and competition stage Market saturation stage Slide 34: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Maturity and competition stage Market saturation stage Product decline stage High Costs Profits Peak Sales Peak Sales & Profits Fall Slide 35: Channels of DistributionConsumer Goods Manufacturer Manufacturer Consumer Retailer Consumer Manufacturer Retailer Consumer Wholesaler Wholesaler Manufacturer Retailer Consumer Wholesaler Slide 36: Channels of DistributionIndustrial Goods Manufacturer Industrial User Manufacturer Wholesaler Industrial User You do not have the permission to view this presentation. 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Marketing Plan aSGuest55623 Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 618 Category: Entertainment License: All Rights Reserved Like it (1) Dislike it (0) Added: July 20, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: urlookinggood (7 month(s) ago) Thanks, very good Saving..... Post Reply Close Saving..... Edit Comment Close By: DiaaDh (12 month(s) ago) very nice Saving..... Post Reply Close Saving..... Edit Comment Close By: earladrian (19 month(s) ago) can you provide me a copy of this presentation I really need this presentation. thank you so much. Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Slide 1: Building a Powerful Marketing Plan Slide 2: Building a Guerrilla Marketing Plan Marketing The process of creating and delivering desired goods and services to customers. Involves all of the activities associated with winning and retaining loyal customers. D&B Study Just 1 in 5 small companies creates a strategic marketing plan. Most common sales method: Walk-in traffic. Slide 3: Building a Guerrilla Marketing Plan Guerrilla marketing strategies Unconventional, low-cost creative marketing techniques that allow a small company to wring more bang from its marketing bucks than do larger rivals. Do not have to spend large amounts of money to be effective. Example: Greg Norton Carpet cleaning and Kimmel athletics Slide 4: A Guerrilla Marketing Plan Pinpoints the specific target markets the company will serve. Determines customer needs and wants through market research. Analyzes a firm’s competitive advantages and builds a marketing strategy around them. Creates a marketing mix that meets customer needs and wants. Slide 5: Pinpointing the Target Market One objective of market research: Pinpoint the company's target market, the specific group of customers at whom the company aims its products or services. Marketing strategy must be built on clear definition of a company’s target customers. Mass marketing techniques no longer work. Slide 6: Pinpointing the Target Market Target customer must permeate the entire business – merchandise sold, background music, layout, décor, and other features. Without a clear image of its target market, a small company tries to reach almost everyone and ends up appealing to almost no one! Slide 7: Market Research Market research is the vehicle for gathering the information that serves as the foundation for the marketing plan. Never assume that a market exists for your company’s product or service; prove it! Market research does not have to be time consuming, complex, or expensive to be useful. Web-based market research – online surveys Trend-tracking Slide 8: Market Research Market research is the vehicle for gathering the information that serves as the foundation for the marketing plan. Never assume that a market exists for your company’s product or service; prove it! Market research does not have to be time consuming, complex, or expensive to be useful. Web-based market research – online surveys Trend-tracking Slide 9: Relationship Marketing(Customer Relationship Management) Involves developing and maintaining long-term relationships with customers so that they will keep coming back to make repeat purchases. Esamples: The Continental Bistro (before they closed) Slide 10: Relationship Marketing(Customer Relationship Management) Steps: Collect meaningful customer information and compile it in a database. Mine the database to identify “best” customers. Use the information to develop lasting relationships with “best” customers. Attract more customers who fit the “best” customer profile. Stay in contact with customers between sales. Slide 11: Four Levels of Customer Sensitivity Level 1: Customer Awareness. Prevailing attitude: “There’s a customer out there.”Managers and employees know little about their customers and view them only in themost general terms. No one really understands the benefit of close customer relationships. Level 2: Customer Sensitivity. A wall stands between the company and its customers.Employees know a little about their customers but don’t share this information withothers in the company. The company does not solicit feedback from customers. Level 3: Customer Alignment. Managers and employees understand the customer’s central role in the business. They spend considerable time talking about and withcustomers, and they seek feedback through surveys, focus groups, customer visits, andother techniques. Level 4: Customer Partnership. The company has embraced a customer service attitudeas an all-encompassing part of its culture. Customers are part of all major decisions. Employees throughout the company routinely use data mining reports to identify the best customers and to serve them better. The focus is on building lasting relationshipswith the company’s best customers. Slide 12: Unique Selling Proposition A key customer benefit of a product that sets it apart from its competition. Answers key customer question: “What’s in it for me?” Consider intangible or psychological benefits as well as tangible ones. Communicate your USP to your customers often. Slide 13: Building a Brand High Low Low High Differentiation Relevance “Antes” Features that are important to customers but all competitors provide them Every company in the market must “ante up” on these features. “Drivers” Features that are both important to customers and are highly differentiated from those of competitors These are the attributes on which a company must focus to build its brand. “Fool’s Gold” Features that are unique to your company but do not drive customers’ loyalty to your product and services Don’t make the mistake of trying to build a brand on these features! “Neutrals” Features that are irrelevant to customers These features are useless when it comes to branding. Slide 14: Guerrilla Marketing Strategies Find a niche and fill it. Don’t just sell; entertain. Strive to be unique. Create an identity for your business. Connect with customers on an emotional level. Slide 15: Guerrilla Marketing Strategies(continued) Focus on the customer. Devotion to quality. Attention to convenience. Concentration on innovation. Dedication to service and customer satisfaction. Emphasis on speed. Slide 16: Focus on the Customer 67 percent of customers who stop patronizing a business do so because an indifferent employee treated them poorly. 96 percent of dissatisfied customers never complain about rude or discourteous service, but... 91 percent will not buy from that business again. 100 percent will tell their “horror stories” to at least nine other people. 13 percent of those unhappy customers will tell their stories to at least 20 other people. Slide 17: Focus on the Customer Companies that are successful at retaining their customers constantly ask themselves (and their customers) four questions: 1. What are we doing right? 2. How can we do that even better? 3. What have we done wrong? 4. What can we do in the future? Slide 18: Devotion to Quality Study: 60 percent of customers who change suppliers do so because of problems with a company’s products or services. World-class companies treat quality as a strategic objective, an integral part of the company culture. The philosophy of Total Quality Management (TQM): Quality in the product or service itself. Quality in every aspect of the business and its relationship with the customer. Continuous improvement in quality. Slide 19: How Do Americans Define Quality in a Product? Reliability (average time between breakdowns) Durability (how long an item lasts) Ease of use Known or trusted brand name Low price Quality Slide 20: How Do Americans Define Quality in a Service? Tangibles (equipment, facilities, people) Reliability (doing what you say you will do) Responsiveness (promptness in helping customers) Assurance and empathy (conveying a caring attitude) Slide 21: Attention to Convenience Is your business conveniently located near customers? Are your business hours suitable to your customers? Would customers appreciate pickup and delivery services? Do you make it easy for customers to buy on credit or with credit cards? Slide 22: Attention to Convenience Are your employees trained to handle business transactions quickly, efficiently, and politely? Does your company offer “extras” that would make customers’ lives easier? Can you bundle existing products to make it easier for customers to use them? Can you adapt existing products to make them more convenient for customers? Does your company handle telephone calls quickly and efficiently? Slide 23: Concentration on Innovation Innovation The key to future success. One of the greatest strengths of entrepreneurs. It shows up in the new products, techniques, and unusual approaches they introduce. Entrepreneurs often create new products and services by focusing their efforts on one area and by using their size and flexibility to their advantage. Slide 24: Dedication to Service Listen to customers. Define “superior service.” Set standards and measure performance. Examine your company’s service cycle. Hire the right employees. Train employees to deliver superior service. Goal: to achieve customer astonishment! Slide 25: Dedication to Service Empower employees to offer superior service. Treat employees with respect and show them how valuable they are. Use technology to provide improved service. Reward superior service. Get top managers’ support. View customer service as an investment, not an expense. Goal: to achieve customer astonishment! (continued) Slide 26: Emphasis on Speed Use principles of time compression management (TCM): Speed new products to market Shorten customer response time in manufacturing and delivery Reduce the administrative time required to fill an order. Study: Most businesses waste 85 to 99 percent of the time required to produce products or services! Slide 27: Emphasis on Speed Re-engineer the process rather than try to do the same thing - only faster. Create cross-functional teams of workers and empower them to attack and solve problems. Set aggressive goals for production and stick to the schedule. Slide 28: Emphasis on Speed Rethink the supply chain. Instill speed in the company culture. Use technology to find shortcuts wherever possible. Put the Internet to work for you. Slide 29: The Marketing Mix Product Place Price Promotion Slide 30: Stages in the Product Life Cycle Introductory stage Slide 31: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Slide 32: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Maturity and competition stage Slide 33: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Maturity and competition stage Market saturation stage Slide 34: Stages in the Product Life Cycle Introductory stage Growth and acceptance stage Maturity and competition stage Market saturation stage Product decline stage High Costs Profits Peak Sales Peak Sales & Profits Fall Slide 35: Channels of DistributionConsumer Goods Manufacturer Manufacturer Consumer Retailer Consumer Manufacturer Retailer Consumer Wholesaler Wholesaler Manufacturer Retailer Consumer Wholesaler Slide 36: Channels of DistributionIndustrial Goods Manufacturer Industrial User Manufacturer Wholesaler Industrial User