Marketing in a nutshell
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Marketing in a nutshell

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What is marketing?...

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

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  • 1. Marketing In a nutshell … r echnica T l t Marketing WalkFom T l ak o
  • 2. Agenda What is Marketing ? Marketing Activities Competitive Analysis Market ResearchFrom Technical Talk to Marketing Walk
  • 3. What is Marketing ?From Technical Talk to Marketing Walk
  • 4. 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
  • 5. 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
  • 6. Marketing Position in an Organization Bridging The Gap From Technical Talk to Marketing Walk
  • 7. 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
  • 8. 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
  • 9. Marketing ActivitiesFrom Technical Talk to Marketing Walk
  • 10. 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
  • 11. 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
  • 12. 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
  • 13. 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
  • 14. 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
  • 15. 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
  • 16. 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
  • 17. 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
  • 18. 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
  • 19. Competitive AnalysisFrom Technical Talk to Marketing Walk
  • 20. “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
  • 21. Knowing the Market Competitive AnalysisAn assessment of the strengths and weaknesses of current and potential competitors From Technical Talk to Marketing Walk
  • 22. 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
  • 23. 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 to Marketing Walk
  • 24. Competitive Analysis Competitor strengths and weaknesses What are the similarities and differences between the competitor products/services and yours? What are the competitor’s strengths and weaknesses ? From Technical Talk to Marketing Walk
  • 25. Competitive Analysis Pricing What is their price structure ? How do their prices compare to yours? From Technical Talk to Marketing Walk
  • 26. Competitive Analysis How do you plan to compete? How are you uniquely suited to compete with them?  Offer better quality services?  Lower prices? More support?  Easier access to services? How do you take advantage over their weaknesses? How do you tackle your weaknesses ? From Technical Talk to Marketing Walk
  • 27. Competitive Analysis Collecting Competitive Data Website Press Releases Blogs Customer feedbacks Sales force ... From Technical Talk to Marketing Walk
  • 28. Market AnalysisFrom Technical Talk to Marketing Walk
  • 29. Market Analysis is a thorough examination of your target market :the one you intend to sell your products or services to From Technical Talk to Marketing Walk
  • 30. Market analysis Why ? Businesses need information  Information about customer requirements, market demand, competition, distribution channels etc.  This information needs to be updated regularly because businesses operate in a dynamic environment  Changes in technology  Changes in consumer tastes  Changes in the competitors products  Changes in economic conditions From Technical Talk to Marketing Walk
  • 31. Market Analysis The Goal The goals of market analysis is  to determine the attractiveness of the market  to understand its evolving opportunities & threats to realize the strengths & weaknesses of your business From Technical Talk to Marketing Walk
  • 32. Market Analysis #1 Tool for Business Decisions Objective description of business and marketing environment is the most important tool for getting informed business decisions  To determine if there is a market for your products or services  To gain a more detailed understanding of consumers’ needs  To forecast future trends  To ascertain the best marketing and sales strategy for selling your products or services Investing in market analysis is worthwhile …  Saves time and money  Enables better competitive advantage  Reduce the risk of product/business failure From Technical Talk to Marketing Walk
  • 33. Market Analysis What do I need to know ? Mapping the Customer behavior and needs  What defined market am I trying to reach?  What is the need I am answering ?  Is there a need for my product or service?  What do customers expect from this type of product or service?  What core competencies must the product or service have?  How much will customers be willing to pay for this type of product or service?  … From Technical Talk to Marketing Walk
  • 34. Market Analysis What do I need to know ? Mapping and analyzing the target market entrance borders and risks  What is the size of the market?  Is it a growing market?  Is the industry stable, volatile, growing or trendy?  Is the market saturated or wide open? If so, why?  Profitability  Trends  … From Technical Talk to Marketing Walk
  • 35. Market Analysis What do I need to know ? Mapping the Competition  What specific companies are servicing this market?  What are the products ?  What is their market share?  What is my competitive advantage?  How do my competitors reach the market?  … Mapping and analyzing the marking channels  What is the most effectives way to get to the market ?  … From Technical Talk to Marketing Walk
  • 36. Market Analysis Sources Market analysts Market research Statistical research Internet Interview target customers Trade shows … From Technical Talk to Marketing Walk
  • 37. Summary (1) Marketing is all about  Knowing your customer Understanding your market Realizing your competition and …From Technical Talk to Marketing Walk
  • 38. Summary (2) …and making informed business decisions: Developing a coherent marketing/product strategy  Defining a customer oriented product  Creating focused marketing material  Promoting the product From Technical Talk to Marketing Walk
  • 39. r echnica T l t Marketing WalkFom T l ak o