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"Indifference" versus "Satisfaction" Marketing Strategy
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"Indifference" versus "Satisfaction" Marketing Strategy

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Some say the two most challenging markets to compete in are the "Indifference" versus "Satisfied" market......hence many companies avoid these spaces like the plague. In this presentation I show how ...

Some say the two most challenging markets to compete in are the "Indifference" versus "Satisfied" market......hence many companies avoid these spaces like the plague. In this presentation I show how these spaces are penetrable and tactics you can use to succeed in them.

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"Indifference" versus "Satisfaction" Marketing Strategy Presentation Transcript

  • 1. “Indifference” versus “Satisfaction” as a Strategy Ideas for Today and Tomorrow Presented By: Andre’ D. Harrell
  • 2. “Marketing” is not only about the most creative “Branding”, “Core Messaging”, or “Value Proposition”……sometimes it’s about “COGNITIVE DISSONANCE”! Indifference Satisfaction
  • 3. Some will say that the most difficult “Cognitive Dissonance” to overcome is “INDIFFERENCE” especially going into a market with a new product/service. I DISAGREE, while the customer maybe distant in their behavior….breaking through that is a huge PAYOFF!
  • 4. Others say that the most difficult “Cognitive Dissonance” to overcome is “SATISFACTION”, and will often say “Why bother going into that market…the customer is satisfied with their current product/service”. With all due respect, DUMB LOGIC and recipe for failure!
  • 5. I’ll concede both “Market Behaviors” are difficult to overcome, however, there are strategies one can take to succeed through the two “cognitive dissonant” barriers and in the next few slides I’ll provide you some ideas!
  • 6. “Disruption” “Leadership” “Business Competency”
  • 7. “DISRUPTION” Determine what’s “UNIQUE” about your product/service…can we “Exploit” that? “FREQUENCY in EDUCATION”, prioritizing time/resources devoted to educating the public. Notice I’m saying “Educating” versus “Selling” 1st. ESTABLISH an impenetrable message platform
  • 8. “LEADERSHIP” Develop “PRODUCT/SERVICE CHAMPIONS”, external customers who will endorse your product/service to their peers (“Grassroots Marketing”) Build a team of “KEY OPINION LEADERS” who are respected in the industry and can provide “favorable impression” and expertise Prove “LONGEVITY”, your commitment to the customer that you’ll be there
  • 9. “BUSINESS COMPETENCY” Develop infrastructure “TRAINING/COMPETENCY MODEL” so that there’s a culture of development and succession planning Ongoing “Customer/Competition Segmentation”, building a platform that consistently connects you to customer behaviors and competitor movements Develop internal/external “ADVISORY BOARDS” that will assist in uncovering business intelligence and help with strategy
  • 10. “DISRUPT”: Perceived Market Indifference/Satisfaction “LEADERSHIP”: Through Presence & Product Quality “BUSINESS COMPETENCY” Through Raising Our Business Intelligence Exploit “Uniqueness” Consistent “Education” Establish “Message Platform” Develop “Product Champions” Build KOL’s Team Demonstrate “Longevity” Build “Training/Competency Model” Ongoing “Customer”/”Competition” Segmentation Develop “Advisory Boards” Competing and Defeating “Indifference” versus “Satisfaction”
  • 11. “Indifference” versus “Satisfaction” as a Strategy Building A Winning “Value Proposition”
  • 12. Now that we have a few ways of penetrating markets that are perceived “Indifferent” versus “Satisfied”, how do you sustain dominance in those market places? What is the “WIFTC” (“What in it for the customer”) when it comes to your product? What’s Your “VALUE PROPOSITION”?
  • 13. In creating a “Differentiable” value proposition for your product/service so that it breaks through “Indifference”/”Satisfaction”, it has to encompass strategic thinking in 3 areas: 1) 2) 3) “INNOVATION” “UNSURPASSED CUSTOMER BENEFITS” “THOUGHT LEADER SUPPORT”
  • 14. 7 Steps Building A Winning “VP” 6. Start with your product/service “Core Competencies” Know your customers Competencies = Character Research the competition Look at trends in your industry Articulate effectively product vision 7. Validate the “VALUE” 1. 2. 3. 4. 5.
  • 15. 1 Start With Core Competencies • What are you really good at? • A value proposition has to be what you do and who you are. It can’t just be what you want to be and what you say you are. To Do Make a list of the following: what you brought to market first, what you offer as the only provider to the market, and what makes your offering clearly superior to any alternative. You are looking for what makes your product unique. These are good differentiators and will help the process.
  • 16. 2 Know Your Customers • Who are your top customers? • What problems do you solve for them? • What problems do they want solved (that NO ONE else can fix) • Is there a new trend in any of your customer segments?
  • 17. 3 Competencies = Character • Ask yourself why someone should buy from you instead of your competitor? • Using the language of your customers define your core competencies….as values • If your answer is “it works”, “it’s new” or “it’s less expensive” your potential success may be limited. These qualities do not make a product unique.
  • 18. 4 Research the Competition • Choose 3 or 4 competitors and study how they market their company and products • What is their value proposition? • Can they defend it? • Ask yourself why someone should buy from you instead of your competitor? Map their core competencies versus yours
  • 19. 5 Market Trends • Are things changing? • Can you take advantage of a trend and grab an exciting position in the market? Examples: – – – – “Quality of Life” “Cognitive Mobility” “Excellent Safety Profile” “Cost Benefit”
  • 20. Articulate Effectively Product Vision 6 Examples: • Product Leadership – Unique pharmacokinetic profile – State-of-the-art features/benefits – Innovative solutions • Customer Relationship – Quality relationships with customers – Offer “complete” solutions • Refine your value proposition until you can articulate it in one sentence.
  • 21. Articulate Effectively Product Vision 6 Examples: • Product Leadership – Unique pharmacokinetic profile – State-of-the-art features/benefits – Innovative solutions • Customer Relationship – Quality relationships with customers – Offer “complete” solutions • Refine your value proposition until you can articulate it in one sentence.
  • 22. 7 Validate the “Value” Examples: • Test the final value proposition with customers to see whether it resonates. – – – – – – – Key Opinion Focus Groups Hospital Customer Interviews Mock P&T Meetings (KOL Driven) Specialty Advisory Boards Hospital In-service programs Conventions-White Paper Discussion Regulatory/Legal
  • 23. In creating a “Differentiable” value proposition for your product/service so that it breaks through “Indifference”/”Satisfaction”, it has to encompass strategic thinking in 3 areas: 1) 2) 3) “INNOVATION” “UNSURPASSED CUSTOMER BENEFITS” “THOUGHT LEADER SUPPORT”
  • 24. “CLOSING” “To successfully penetrate markets that are “INDIFFERENT” versus “SATISFACTION” strategic thinking around “Disruption”, “Leadership”, and “Business Competency” has to be considered. A strong “Value Proposition” is a must to grow and sustain dominance in markets that are heavily competitive!
  • 25. Indifference vs. Satisfaction “The cornerstone of our strategy”
  • 26. Checkout my “Global Sales-Marketing Business Plan” for the Pharma/Med Device Industry featuring Pain Management. http://www.slideshare.net/aharrell2000/example-global-sales-marketingbusiness-plan You can also checkout my background/work by clicking on the following links: http://www.slideshare.net/aharrell2000 www.linkedin.com/pub/andre-d-harrell/5/13/382/ http://thesalesprofessionalnetwork.blogspot.com/ www.ah2andbeyond.com https://www.facebook.com/pages/Sales-Marketing-ManagementConsulting/267898536570725
  • 27. Andre’ Harrell AH2 & Beyond Consulting www.ah2andbeyond.com 267-221-8529