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Strategic Marketing Fundamentals

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Marketing Strategy, Approach, Tactics, Marketing Mix, Channel Marketing, Vision, Mission, Values, Brand, Campaigns, Marketing Funnel

Marketing Strategy, Approach, Tactics, Marketing Mix, Channel Marketing, Vision, Mission, Values, Brand, Campaigns, Marketing Funnel


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  • 1) To get into customers’ imaginations as well as their wallets.2) It’s the values that the product or organization stands by.3) Who are you? What do you represent? How do I relate to you?4) Who are we talking to? (‘Audience’) – What should we tell them? (‘Strategy statement’)?
  • Strategic Beliefs -Groundwork for strategic premises.Strategic Enablers -Tools to deliver our mission and goals.Strategic Norms -Policies and strategic priorities in line with mission.Strategic Initiatives -Specific actions in our current strategy.
  • The marketing mix is often crucial when determining a product or brand's offer, and is often synonymous with the four Ps: price, product, promotion, and place; in service marketing, however, the four Ps have been expanded to the Seven Ps or eight Ps to address the different nature of services.In recent times, the concept of four Cs has been introduced as a more customer-driven replacement of four Ps.[1] And there are two four Cs theories today. One is Lauterborn's four Cs (consumer, cost, communication, convenience), another is Shimizu's four Cs (commodity, cost, communication, channel).
  • Transcript

    • 1. FINANCIAL SERVICES MARKETING – BUILDING A NETWORK OF PARTNERS, CAMPAIGNS AND THOUGHT LEADERSHIP Martina Macpherson, Managing Partner, Sustainable Investment Partners
    • 2. CONTENT • Introducing Marketing • Defining Marketing • Building a Brand • Vision, Mission, Values -… • …Strategy • Approach • Old versus New • Tactics • Measuring Success (ROI) • From Theory… • …To Success • Further Reading
    • 3. INTRODUCING MARKETING • How do you Describe the DNA of Successful Businesses: • Innovative. • Nimble. • Obsessively focused on customers. • Great story tellers. • And What about Marketing ???
    • 4. DEFINING MARKETING 1st: What Type of… Marketing? 2nd: And How to Get Started…?
    • 5. BUILDING A BRAND What’s a Successful Brand? • Successful brands don’t just sell a product – They also sell an identity. • Brand is the identity that an organisation or product presents to the world - It goes beyond just a logo. • From a consumer’s perspective, brands are about personality - Who? What? How? • A successful brand promise meets its target audience(s) – Who? (‘Audience’) – What? (‘Strategy statement’)?
    • 6. VISION, MISSION, VALUES - … How Do you Get Everyone Involved – And on Board? • Mission – Goals and core purpose in the organization‟s „domain. • Vision - Aspiration for the business - in serving the mission. • Values - Significant contributors to the mission & vision (= „organization‟s culture‟). • Strategic Beliefs – Premises • Strategic Enablers - Tools • Strategic Norms - Policies • Strategic Initiatives - Actions STRATEGY
    • 7. …STRATEGY • What are Marketing Strategies about? • Marketing Plans – • Filling market needs and reach marketing objectives. • Multi-year plans, with a tactical plan detailing specific actions & tested for measurable results. • Internal and External Environments – • Internal = „Marketing Mix‟ to determine the marketing budget and how to allocate across the „Mix‟, plus performance analysis and strategic constraints. • External = customer analysis, competitor analysis, target market analysis. • A company's overarching Mission Statement.
    • 8. APPROACH • Marketing Planning – What are the First Steps? • Situation Analysis – understand your customers • (SWOT) Analysis / Marketing Audit - where are we now? • Objectives - Create sustainable Objectives: where do we want to go? • Strategy: Segmentation - segment your customer base • Strategy: Positioning - target new customers & position the business • Tactics and Action – create the marketing action plan • Control – monitor, manage and improve MARKETING MIX
    • 9. OLD VS NEW Rethinking the ‘Marketing Funnel’• Marketing – A ‘Hierarchy of Effects’? • Awareness (of the „Product Category‟) • Consideration (of a future „Purchase‟) • Preference (for a model or „Brand‟) • Action (making the „Purchase‟). • As the importance of customer retention became better understood, a fifth stage has been added: Loyalty. • Today, engaged customers take on the role of brand ambassadors and spread their own positive messages online: Advocacy.
    • 10. TACTICS What are ‘Successful Tactics’? • Strategic Partners & Networks - across sectors, geographies & segments • (Online) Campaigns & Events – including Brand, Sales, Product and Thematic Campaigns • Thought Leadership & PR – to establish, communicate and maintain a strong message • Don’t forget… Strong Visuals – „a picture speaks more than a 1000 words‟…
    • 11. MEASURING SUCCESS (ROI) How Can We Measure Success? • Although cross-channel attribution is a nascent market, Forrester* has identified providers that support it: • Adobe, ClearSaleing, Convertro, GroupM, and Visual IQ • In addition, some providers offer (free) online analytics stats: • Google Analytics • LinkedIn Analytics • Topsy (Social Media Analytics) Stats, Stats, Stats… *The Forrester Wave™: Interactive Attribution Vendors, Q2 2012 Report
    • 12. FROM THEORY… Who, What, Where, How… Some Marketing Theories: 1. Value Innovation and The Value Curve – how to innovate change. 2. Porter's Five Forces of Competition Framework – market entry strategy. 3. Market-Oriented Ethnography – observing consumer behaviour. 4. Brand Personality Dimensions Framework – measuring brand personality. 5. Hierarchy of Effects Models – the effect of ads on consumers. 6. Service Mapping – how to improve customer service. 7. Brand Relationship Spectrum – how to manage branding strategies. 8. Change Equation - changing the culture to match the brand promise. 9. Doyle's Five Criteria for Segmentation - criteria for market segmentation. 10. Conjoint Analysis – what attributes & factors are most important.
    • 13. …TO SUCCESS So how can we Define ‘Successful Marketing’? • ACCESS - be faster, be easier, be everywhere, be always on. • ENGAGE - become a source of valued content. • CUSTOMIZE - make your offering adaptable to your customers' needs. • CONNECT - become a part of your customers' conversations. • COLLABORATE - involve your customers at every stage of your enterprise. • Last but not least, PAY ATTENTION – to build a sustainable, impactful and long-term marketing strategy.
    • 14. FURTHER READING STRATEGIC NETWORKS. CAMPAIGNS. THOUGHT LEADERSHIP. • David L. Rogers, The Network Is Your Customer: Five Strategies to Thrive in a Digital Age, 1st edition, Yale University Press, 2011 • Eric Worre, Go Pro - 7 Steps to Becoming a Network Marketing Professional, Network Marketing Pro Inc., 1st edition (May 1, 2013) • David Meerman Scott, The New Rules of Marketing & PR: How to Use Social Media, Online Video, Mobile Applications, Blogs, News Releases, and Viral Marketing to Reach Buyers Directly, Wiley; 4 edition (July 1, 2013) • Jay Conrad Levinson, Guerilla Marketing: Easy and Inexpensive Strategies for Making Big Profits from Your Small Business, Houghton Mifflin, 4th Upd Exp edition (May 22, 2007) • Al Ries and Jack Trout, Positioning: The Battle For Your Mind, McGraw-Hill; 1st edition (December 13, 2000) • Michael E. Porter, Competitive Strategy: Techniques for Analyzing Industries and Competitors, Free Press; 1 edition (June 1, 1998) • Sean Platt and Johnny B. Truant, Write. Publish. Repeat. (The No-Luck-Required Guide to Self-Publishing Success), Sterling & Stone (January 1, 2014) • Philip Kotler and Kevin Keller, Framework for Marketing Management, Prentice Hall; 5th edition (March 3, 2011)
    • 15. “ ” BUSINESS HAS ONLY TWO FUNCTIONS – MARKETING AND INNOVATION. MILAN KUNDERA. MARKETING IS THE ART OF GETTING PEOPLE TO CHANGE THEIR MINDS. JAY CONRAD LEVINSON. Thank you – for further information, please contact martina.macpherson@gmail.com