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Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
Chapter 8
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Chapter 8

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  • 1. CHAPTER 8 DISCUSSION QUESTIONS1) Define marketing.2) What % of small business owners say that their companies do not need marketing because their products/servicessell themselves?3) Define guerrilla marketing strategies.4) What 4 objectives should a guerrilla marketing plan accomplish?5) Define target market.6) What do most marketing experts contend is the greatest marketing mistake most small businesses make?7) To be customer-driven, an effective marketing strategy must be based on what?8) What is the vehicle for gathering the information that serves as the foundation for the marketing plan?9) Why cant small companies afford to make marketing mistakes?10) What are the 4 steps to successful market research?11) Define individualized (1-to-1) marketing.12) State the 12 guerrilla marketing principles.13) What is any commercial news covered by the media that boosts sales but for which a small company does notpay?14) What is a marketing concept designed to draw customers into a store by creating a kaleidoscope of sights,smells, & activities to entertain?15) What is a key customer benefit of a product/service that sets it apart from the competition?16) More than half of Facebook users are over what age?17) What is a frequently updated online personal journal that contains a writers ideas on a multitude of topics?18) Systematically creating the optimum experience for the customers every time they interact with the companyis known as what?19) What is the philosophy of producing a high quality product/service & achieving quality in every aspect of thebusiness & its relationship with the customer?20) What are the 4 Ps of marketing?21) As described in Figure 8.2, what are the 5 characteristics of a great product?
  • 2. SHOULD A BRAND APPEAL TO EVERY TYPE OFCONSUMER?
  • 3. TO BE SUCCESSFUL, SHOULD A BRAND APPEAL TO EVERYBODY?•85% OF BEER SOLD INAMERICA IS LIGHT LAGER.•BUDWEISER IS A 5% ABV &11 IBU LIGHT AMERICAN-STYLE LAGER.•IT IS MADE WITH UP TO 30%RICE.•$5.99/6 PACK CANS.•BEST SELLING BEER IS 60MINUTE IPA.•6% ABV & 60 IBU.•$8.99/6 PACK BOTTLES.
  • 4. IT DEPENDS ON HOW YOU DEFINE “SUCCESS.”-BUDWEISER, & MOST BIG BREWERIES, IS SUCCESSFUL IN SALES BUT THEYARE NOT SUCCESSFUL IN CREATING A QUALITY PRODUCT.-DOGFISH HEAD, & MOST CRAFT BREWERIES, IS SUCCESSFUL IN CREATING AQUALITY PRODUCT BUT COMPARED TO BUDWEISER NOT IN SALES.-A SMALL BUSINESS SHOULD BE MORE CONCERNED WITH PROVIDING AQUALITY PRODUCT/SERVICE & STAYING TRUE TO THAT PRODUCT/SERVICE.-CREATE THE PERCEPTION THAT THERE IS NO OTHER COMPANY/PRODUCTON THE MARKET LIKE YOURS.
  • 5. BRANDING-THE EFFORTS INTENDED TO IDENTIFY THE GOODS & SERVICES OF ONE SELLER & TODIFFERENTIATE THEM FROM THOSE OF OTHER SELLERS.-IT’S ABOUT GETTING PROSPECTIVE CONSUMERS TO SEE YOU AS THE ONLY ONE THATPROVIDES A SOLUTION TO THEIR PROBLEM.-SIMILAR TO BRANDING ON THE RANCH.-USED TO DIFFERENTIATE YOUR COMPANY (COW) FROM ALL OTHER COMPANIES (CATTLE).-USED BY CORPORATIONS TO CREATE UNIQUE & ATTRACTIVE PERSONALITIES FORTHEMSLEVES.-CORPORATIONS’ BRAND IDENTITIES ARE PERSONIFICATIONS OF WHO THEY ARE & WHERETHEY’VE COME FROM.-IT IS ABOUT CREATING & EVOLVING CUSTOMER PERCEPTIONS OF THEMSELVES.-ENABLES THEM TO CREATE INTELLECTUAL & EMOTIONAL BONDS WITH THE GROUPS THATTHEY DEPEND ON:-CUSTOMERSS & EMPLOYEES
  • 6. BRAND DRIVERS-SLOGANS, LOGOS, SYMBOLS, MACOTS, CELEBRITYENDORSEMENTS, ETC. TO REINFORCE “HUMANQUALITIES.”
  • 7. EFFECTIVE BRANDING WILL:-DELIVE A CLEAR MESSAGE.-CONFIRM YOUR CREDIBILITY.-CONNECT YOUR TARGET PROSPECTS EMOTIONALLY.-MOTIVATE THE BUYER.
  • 8. WHO IS CURRENTLY THE BEST-PERCEIVED BEER BRANDAMONG U.S. ADULTS (21+) NATIONWIDE?
  • 9. KEY INGREDIENTS TO CRAFT BEER SUCCESS
  • 10. AN AUTHENTIC STORY-CRAFT BEER BRANDS HAVE AN AUTHENTIC STORY AT THEROOT OF THEIR COMMUNICATION.-MORE IMPORTANTLY, THEY LIVE IT.-EMPLOYEES AREN’T JUST EMPLOYEES, THEYREPRESENT THE BRAND.
  • 11. TAKE ADVANTAGE OF YOUR HOME BASE-SUCCESSFUL CRAFT BEER BRANDS FOCUS THEIR EFFORTS AROUNDTHEIR BREWERY WHERE THEIR STORY IS MORE MEANINGFUL TOCONSUMERS.-IT’S EASIER TO ACTIVATE A BRAND’S STORY IN A HOME MARKET:-IT’S REPEATED MORE OFTEN (BY BREWERY EMPLOYEES).-IT IS REINFORCED BY BREWERY TOURS.-CRAFT BREWERS ARE MORE PROFITABLE IF THEY SELL A HIGHER %OF THEIR BEER IN THEIR HOME MARKET.-EXPANSION IS NOT MADE UNTIL THERE IS SUFFICIENT CONSUMERDEMAND IN ADJACENT MARKETS.
  • 12. KEY INGREDIENTS TO CRAFT BEER SUCCESS
  • 13. CREATE CONVERSATION OPPORTUNITIES-CRAFT BEER BRANDS ARE BUILT ON CONVERSATIONS. ONECONSUMER AT A TIME.-THE STORY & THE PASSION IN WHICH IT IS PRESENTED IS CRITICAL.-CRAFT BEER CONSUMERS RESPOND TO BRANDS THAT HAVE A DEEPPASSION FOR THEIR BUSINESS.-CONSUMER INTERACTIONS ARE BEST WHEN THEY ARE WITH THEBRAND’S “RELIGIOUS ZEALOT.”-JIM KOCH: SAM ADAMS-SAM CALIGIONE: DOGFISH HEAD-CONVERSATION OPPORTUNITIES:-BEER FESTIVALS-ON-PREMISE PROMOTIONS-OFF -PREMISE HAND-SELLS-SOCIAL MEDIA
  • 14. HAVE FEET ON THE STREET-CRAFT BEER BRANDS NEED PEOPLE IN THE MARKET TOBUILD DISTRIBUTION & INTERACT WITH CONSUMERS.-REPRESENTATION IN THE MARKET ADDS TO BRANDAUTHENTICITY.-THE “FEET ON THE STREET” ARE THERE FOR SALES &MARKETING EXECUTION.
  • 15. EXPLOIT THE POWER OF INFLUENCERS-THE ONLY CAFT BEER BRAND THAT ADVERTISES NATIONALLY IS SAMADAMS.-MOST CRAFT BEER BRANDS RELY ON SOCIAL MEDIA & WORD OF MOUTHTO ADVERTISE THEIR BRAND.-INFLUENCER CONSUMERS ARE VIEWED AMONGST FRIENDS & FAMILY ASKNOWING THE TRENDS, WHAT’S NEW & EXCITING, & CREDIBLE.-WAYS TO REACH INFLUENCERS:-SAMPLING.-PRODUCT/BRAND EXPERIENCES (TOURS, FOOD & BEERPAIRING DINNERS, ETC.)-MAKING THEM FEEL THEY HAVE A SAY IN THE BRAND (MUGCLUBS)
  • 16. ACTIVATE THE ICON-CRAFT BRANDS MUST BE CREATIVE & BRING THE SPIRITOF THE BRAND TO LIFE.-A GREAT WAY FOR CRAFT BEER BRANDS TO DO THIS ISTHROUGH BRANDED EVENT.
  • 17. BRANDING SUMMARY-TO SUCCEED IN BRANDING YOU MUST UNDERSTAND THE NEEDS & WANTSOF YOUR CUSTOMERS & PROSPECTS.-YOUR BRAND RESIDES IN THE HEART & MINDS OF YOUR CUSTOMERS &PROSPECTS.-IT IS THE SUM TOTAL OF THEIR EXPERIENCES & PERCEPTIONS (SOME YOUCAN INFLUENCE, BUT SOME YOU CAN’T).-A STRONG BRAND IS INVALUABLE AS THE COMPETITION FOR PROSPECTSINTENSIFIES.-BRANDING IS A FOUNDATIONAL PIECE IN YOUR MARKETINGCOMMUNICATION.
  • 18. WHAT IS MARKETING?
  • 19. MARKETING-THE ACTIVITY, SET OF INSTITUTIONS, & PROCESSES FOR CREATING,COMMUNICATING, DELIVERING, & EXCHANGING OFFERINGS THATHAVE VALUE FOR CUSTOMERS, CLIENTS, PARTNERS, & SOCIETY ATLARGE. (AMERICAN MARKETING ASSOCIATION)-IT IS ABOUT FIGURING OUT WAYS TO DRUM UP SALES.3 MAIN PURPOSES1) BUILD AWARENESS.2) BUILD ADOPTION.3) BUILD LOYALTY.
  • 20. BRAND LOYALTY-A CUSTOMER’S COMMITMENT TO REPURCHASE ACOMPANY’S PRODUCT/SERVICE.-ACQUIRING A NEW CUSTOMER COSTS 5X MORE THANKEEPING AN EXISTING CUSTOMER.FACTORS INFLUENCING BRAND LOYALTY1) PERCEIVED VALUE2) BRAND TRUST3) SATISFACTION
  • 21. MARKETING CONCEPT-ACHIEVING ORGANIZATIONAL GOALS DEPENDS ON KNOWING THE NEEDS & WANTS OF OF TARGET MARKETS ANDDELIVERING THE DESIRED SATISFACTIONS.TARGET MARKET-A GROUP OF CUSTOMERS WITH SIMILAR NEEDS THAT FORMS THE FOCUS OF A COMPANY’S MARKETING EFFORTS.-MARKETING EFFORTS MUST BE PRECISELY FOCUSED ON THE GROUP(S) OF EXISTING & PROSPECTIVE CUSTOMERS WHOARE MOST LIKELY TO BUY YOUR PRODUCTS/SERVICES.-IF YOU ATTEMPT TO REACH EVERYONE, YOU WILL END UP REACHING NO ONE.DEMOGRAPHICS-THE STATISTICAL CHARACTERISTICS OF HUMAN POPULATIONS USED TO IDENTIFY MARKETSEGMENTS.-AGE -INCOME-SEX -EDUCATION-RACE -EMPLOYMENTPSYCHOGRAPHICS-VARIABLES CLASSIFYING POPULATION GROUPS ACCORDING TO PSYCHOLOGICAL VARIABLES.-INTERESTS-VALUES-LIFESTYLE

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