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Marketing management ppt-(rev2)

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  • 1. MARKETING MANAGEMENT Attract and Keep Customers for Life Instructor: <<Instructor Name>> <<Designations>>
  • 2. PRE-COURSE EVALUATION M arketing C ompetency A ssessment
  • 3. PRIORITIES
    • 1    
    • 2   
    • 3 
    MY PRIORITIES FOR THIS COURSE:
  • 4. LEARNING OBJECTIVES
    • Assess effectiveness of current marketing plan and the degree to which agents’ marketing efforts are aligned with the plan.
    • Understand the customer in order to know how to achieve the best return on the marketing investment.
    • Select target markets to focus the marketing effort.
    • Create a company specific value proposition.
    • Understand how to differentiate the organization in order to gain or maintain a competitive advantage.
  • 5. LEARNING OBJECTIVES
    • Understand and incorporate activities that influence buyers and sellers (marketing mix).
    • Identify ways to enhance brand awareness.
    • Develop ways to align the company’s marketing efforts with those of individual agents.
    • Examine outstanding marketing efforts in the field of real estate.
    • Integrate specific planning template tools to direct development of a company marketing plan.
  • 6. THE MARKETING MANAGEMENT PROCESS Research Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Implementation Control
  • 7. MODULE 1: RESEARCH & SEGMENTATION Research Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Implementation Control
  • 8. TARGET MARKET VARIABLES Geographic Location Demographic Statistics Psycho-graphic Attitudes Interests Behavioralistic Actions
  • 9. MARKETING PLAN: PART 1 CUSTOMER PROFILE INDIVIDUAL
  • 10. CUSTOMER RELATIONSHIP INDEX Weak & Immature Strong & Mature Awareness Identity Connection Community Advocacy
  • 11. MARKETING PLAN: PART 1 CUSTOMER RELATIONSHIP QUESTIONS INDIVIDUAL
  • 12. THE CONSUMER
    • CHARACTERISTICS OF HOME BUYERS:
    • The typical home buyer is 41 years old.
    • Among first-time buyers, the median age is 32 .
    • 61% are married.
    • For repeat buyers, the most important reason for their purchase is a desire for a larger home .
  • 13. THE CONSUMER
    • CHARACTERISTICS OF HOME SELLERS:
    • The typical home seller owned their previous home for 6 years.
    • Among sellers at least 65 years old, the most frequently cited reason for selling was a desire to move closer to family and friends .
    • The task that sellers most often do themselves without assistance was determining the listing price (24%).
  • 14. MODULE 2: TARGET MARKETS Research Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Implementation Control
  • 15. PRODUCTS & SERVICES CORE PRODUCTS Concierge Products Ancillary Products
  • 16. FOCUS & CLARITY SWEET SPOT Good At Passion Make Money
  • 17. TARGET MARKET SELECTION
    • ATTRACTIVENESS
    • Ability to draw measurable attention to company.
    • SUITABILITY
    • A good fit between the segment & firm’s products, resources & capabilities.
    What factors make a market segment attractive? What factors make a market segment suitable?
  • 18. ADAPTING
    • What products and services need to stay?
    • What products and services should go?
    • What products and services need to be added?
  • 19. MARKETING PLAN: PART 2 TARGET MARKET INDIVIDUAL
  • 20. TARGET MARKET STRATEGIES SINGLE SEGMENT P3 X P2 P1 S3 S2 S1
  • 21. TARGET MARKET STRATEGIES SELECTIVE SPECIALIZATION X P3 X P2 X P1 S3 S2 S1
  • 22. TARGET MARKET STRATEGIES PRODUCT SPECIALIZATION P3 X X X P2 P1 S3 S2 S1
  • 23. TARGET MARKET STRATEGIES MARKET SPECIALIZATION X P3 X P2 X P1 S3 S2 S1
  • 24. TARGET MARKET STRATEGIES FULL MARKET COVERAGE X X X P3 X X X P2 X X X P1 S3 S2 S1
  • 25. ELEMENTS OF VALUE VALUE QUALITY RELIABILITY ECONOMY SATISFACTION
  • 26. BROAD POSITION Product Leader Customer Intimacy Operational Excellence
  • 27. MARKET LEADERS
    • The best at one of the three value disciplines
    • Achieve adequate performance in the other two
    • Keep improving their position in the chosen discipline
    • Become more adequate in the other two
  • 28. MARKETING PLAN: PART 2 BROAD POSITION INDIVIDUAL
  • 29. PRICE POSITION
    • More for More
    • More for the Same
    • The Same for Less
    • Less for Much Less
    • More for Less
  • 30. MARKETING PLAN: PART 2 PRICE POSITION INDIVIDUAL
  • 31. SPECIFIC POSITION
    • Best
    • Most
    • Least
    • Biggest
    • First
    • _____est
    SUPERLATIVE POSITIONING
  • 32. SPECIFIC POSITION
    • Attribute
    • Benefit
    • User
    • Competitor
    • Category
    SOURCE POSITIONING
  • 33.
    • For buyers and sellers at every stage of their lives, we represent the most desirable properties in the most sought-after locations in the city and suburbs.
    Expertise
  • 34.
    • With an insider’s view of the market, we know where to find properties that match your wish list and lifestyle.
    Expertise
  • 35.
    • “ Constantly reassess your target market… not just what the company wants to be, but what the real client profile is.”
  • 36. Client Audit
    • Where does your client get information about real estate?
    • What type of property does you client like?
    • What do your clients do in their spare time – hobbies, interests, etc.?
    • If your clients donate to a not-for-profit, what kind of an organization is it – environmental, art, education, etc.?
    • If we were to hire a celebrity spokesperson for our company, whom should it be and why?
  • 37. Client Audit Results
    • The clients of the firm are a mirror of the agents – of who they are, in terms of age, interests, etc.
    • Because Rubloff has agents of all ages, the actual client profile is everything from first-time buyers to multi-million dollar buyers. This is not the same as their “target customers.”
  • 38. Parallel Marketing
  • 39. Parallel Marketing
  • 40. Parallel Marketing
  • 41. Differentiation
    • You would expect the most professional real estate company in Chicago to have the area’s most experienced and productive sales team.
  • 42.
    • Contact: Jim Kinney, President
    • Website: www.rubloff.com
    • Phone: 312 386 5300
  • 43. MARKETING PLAN: PART 2 SEGMENT VALUE POSITION STATEMENTS INDIVIDUAL
  • 44. MODULE 3: POSITIONING Research Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Implementation Control
  • 45. COMPETITIVE ANALYSIS
    • PRODUCTS
    • PEOPLE
    • PROCESSES
    • PROFITS
  • 46. MARKETING PLAN: PART 3 COMPETITIVE ANALYSIS INDIVIDUAL
  • 47. COMPETITIVE INFORMATION
    • Recorded Data
    • Observable Data
    • Opportunistic Data
    • Media Scanning
  • 48. THE CONSUMER
    • 22% of recent home buyers purchased a new home.
    • 78% of recent home buyers purchased a previously owned home.
    • 55% of buyers purchased a home in a suburb/subdivision.
    • First-time buyers are more likely to purchase a home in an urban area/central city.
    CHARACTERISTICS OF HOMES PURCHASED:
  • 49. THE CONSUMER
    • Neighborhood Choice
    • 5 Convenient to shopping (28%)
    • 4 Design of neighborhood (28%)
    • 2 Convenient to job (48%)
    • 3 Convenient to family/friends (36%)
    • 1 Quality of neighborhood (63%)
    • 6 Quality of school district (27%)
    CHARACTERISTICS OF HOMES PURCHASED:
  • 50. THE CONSUMER
    • Factors Frequently Compromised
    • 2 Price of home/planned expenditures (17%)
    • 1 Size of home (19%)
    • 5 Style of home (14%)
    • 6 Distance from job (13%)
    • 3 Condition of home (15%)
    • 4 Lot size (14%)
    CHARACTERISTICS OF HOMES PURCHASED:
  • 51. VALUE PROPOSITIONS
    • A strong value proposition delivers tangible results.
    • A meaningful value proposition is written in the customer’s language.
    • A sincere value proposition is easily understood by everyone in the organization and they know when it’s not being delivered.
    • A unique value proposition makes a statement that no other competitor can claim.
  • 52. THE GOOD
    • We successfully combines customer-oriented, &quot;high touch&quot; service with a new level of information technology.
    • Clients can expect creative, custom marketing plans for sellers; innovative house-hunting methods for buyers, and technology that enables our associates to exceed client expectations.
  • 53. THE BAD
    • Your best source for real estate from the area’s largest real estate firm.
    • The oldest real estate firm with the most experience agents with a commitment to exceptional customer service.
  • 54. THE UGLY
    • We sell more homes to more people than anyone in the Tri-State area.
    • Home of the city’s most popular real estate agents.
  • 55. THE GREAT
    • “Realizing your dream for living is the heart of everything we do.”
            • The Corcoran Group
    • “Our company is about people and homes. About brining the two together so harmoniously that life becomes more pleasurable, more secure, more graceful.”
    • John Daugherty Realtors
  • 56. MARKETING PLAN: PART 3 VALUE PROPOSITIONS INDIVIDUAL
  • 57. MODULE 4: MARKETING MIX Research Marketing Mix Strategic Tactical Positioning Target Markets Segmentation Implementation Control
  • 58. MARKETING MIX
    • A Marketing Mix means
    • activities that can influence
    • the prospect, buyer or seller.
  • 59. THE CONSUMER
    • The typical home buyer searched for a home 8 weeks.
    • The top 5 most used information sources.
      • Real Estate Agent (85%)
      • Internet (80%)
      • Yard Sign (63%)
      • Print Newspaper Ad (55%)
      • Open House (47%)
    CONVENIENCE & COMMUNICATION:
  • 60. THE CONSUMER
    • The top 5 most useful information sources.
      • Internet (73%)
      • Real Estate Agent (69%)
      • Yard Sign (31%)
      • Open House (22%)
      • Print Newspaper Ad (20%)
    • Internet used frequently in home search
    • Ages 18-24: 69% Ages 25-44: 69%
    • Ages 45-64 49 % Ages 65 +: 21%
    CONVENIENCE & COMMUNICATION:
  • 61. THE CONSUMER
    • Action taken after gathering information.
      • Drove by or viewed home (74%)
      • Walked through a home viewed online (61%)
      • Found the agent used to search/buy (23%)
      • Request more information (22%)
      • Contacted builder/developer (11%)
    • Where buyers found the home they purchased.
    • 15% Yard Sign 24% Internet 36% Agent
    CONVENIENCE & COMMUNICATION:
  • 62. THE CONSUMER
    • The top 3 things buyers are looking for online:
      • 1 – Properties for Sale (96%)
      • 2 – General information about an area (21%)
      • 3 – Real Estate Company/Agent (3%)
    CONVENIENCE & COMMUNICATION:
  • 63. THE CONSUMER CONVENIENCE & COMMUNICATION:
    • Internet searchers other sources of information:
    5 Home Book/Magazine (35%) 1 Real Estate Agent (87%) 2 Yard Sign (64%) 7 Television (11%) 4 Open House (49%) 3 Print Newspaper Ad (57%) 8 Billboard (8%) 6 Home Builder (25%)
  • 64.
    • Matthew Ferrara & Company has
    • spent the last two decades
    • helping real estate businesses
    • maximize their training, their
    • tech support and stimulating
    • new ideas for how to use
    • technology to improve their
    • business results.
  • 65. The Importance of Technology
    • The Consumer lives and dies by technology – REGARDLESS OF AGE!
    • The average seller is 47 years old and uses technology in every facet of their lives
    • Real estate agents must use the same technology as their clients
    • Top performing agents are as modern as the latest technology
  • 66. Myths About Technology
    • There is a gap between age groups and their level of technology use.
    • Technology is too expensive
    • The seller wants the agent to run newspaper ads
    • Technology doesn’t last 20 years like your Maytag.
  • 67. Become Tech Savvy
    • It’s an awareness problem
    • There are no “silver bullets”
    • Use all the technology you currently have
    • Your laptop must have a wireless card
    • Use a Blackberry
  • 68. Resources
  • 69.
    • Contact: Matthew Ferrara
    • Website: www.mfseminars.com
    • Phone: 800 253 2350
    • Blog: blog.matthewferrara.com
  • 70. THE FOUR Ps OF MARKETING P roduct P rice P lace P romotion
  • 71. PROMOTIONAL TOOLS
    • Advertising
    • Sales Promotion
    • Public Relations
    • Sales Force
    • Direct Marketing
  • 72. 3 TIERS OF MARKETING We know Them They know Us Introductions Referrals Networking We don’t know them They don’t know us Website Search Engin es Web Ads Print Ads Blogs TIER 1 TIER 2 Direct Mail e-Marketing Speaking Newsletters Home Shows We know Them They don’t know Us TIER 3
  • 73. MARKETING MIX ACTIVITIES Purpose: Create Awareness Make Contact Make a Transacti on Tell Others Introduce Us Frequency: Daily Weekly Monthly 24/7/365 Goals: Leads Appointments Contracts Referrals Introductions Segment: Consumer Grou p Cost: Single Event Recurring TIER 1 TIER 2 TIER 3 TIER 1 TIER 2 TIER 3
  • 74. MARKETING PLAN: PART 4 MARKETING MIX INDIVIDUAL
  • 75. BUILDING THE BRAND
    • A BRAND NAME
    • Be consistent with value positioning
    • Suggest product benefits
    • Suggest product qualities
    • Be easy to pronounce, recognize & remember
    • Be distinctive
  • 76. BRAND ASSOCIATION
    • Golden Arches
    • Big Mac
    • Ronald McDonald
    • High calories
    • Kids
    • Fun
    • Consistency
    • Paper Waste
    • Quality
    • Happy Meal
    • Value Meal
    • Charity
  • 77. BUILDING THE BRAND
    • POSITIVE ASSOCIATIONS
    • Trigger Attributes
    • Trigger Benefits
    • Connote company values
    • Exhibit personality traits
    • Suggest Users
    =
  • 78. STANDARDS OF USE
    • Trademarks & Logos
      • Colors
      • Identification
      • Copy
      • Artwork
      • Trademark Use
      • Templates
      • Approvals
  • 79. STANDARDS OF USE
    • Resources
    • Platforms
    • Protocol
  • 80. MARKETING DECISIONS Who will create it? How will it be distributed? What is the projected cost/expense? ACTION PLAN TIER 1 TIER 2 TIER 3
  • 81. MARKETING PLAN: PART 4 MARKETING MIX ALIGNMENT INDIVIDUAL
  • 82. MODULE 5: IMPLEMENTATION Research Implementation Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Control
  • 83. About Tucker
  • 84.
    • Joint Effort
    • Give Agents Latitude
    • Ask them to use good taste
    Company-Agent Marketing
  • 85.  
  • 86.  
  • 87.  
  • 88.
    • Put your requests in writing
    • Allow plenty of time for production and proofs
    • We’ll try to complete “just listed” projects in 1-2 days if possible; ads, 2-3 days; for other projects, we ask for 5-7 business days
    I Need it NOW!!
  • 89. Marketing Department
  • 90. Property Brochures
  • 91. Builder Projects
  • 92. Custom Postcards
  • 93. Personal Brochures
  • 94. Customized Announcements
  • 95.
    • Creativity within Company image
    • Work with the Marketing Department
    • Avoid “Gas Wars”
    Autonomy
  • 96.  
  • 97.
    • All custom work is created free of charge for agents
    • They can be printed on a high-speed office color printer for a reasonable price (first 100 free)
    • Or uploaded and printed via our vendor
    Discipline
  • 98. Results
  • 99. Contact: Jim Litten, President Website: www.fctucker.com Phone: 888 588 2573
  • 100. MARKETING CAMPAIGNS
    • The goal of a campaign to attract
    • new customers is LEADS .
    • The purpose of a campaign to attract
    • new customers is to move them
    • from AWARENESS to IDENTITY on the
    • Customer Relationship Scale.
  • 101. MARKETING CAMPAIGNS
    • The goal of a campaign to
    • existing customers is REFERRALS .
    • The purpose of a campaign for
    • existing customers is to move them
    • from CONNECTION to ADVOCACY on the
    • Customer Relationship Scale.
  • 102. MARKETING PLAN: PART 5 MAREKTING CAMPAIGNS INDIVIDUAL
  • 103. MODULE 6: CONTROLS Research Control Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Implementation
  • 104. ELEMENTS OF CONTROL
    • Results
    • Internal vs. External
    • Operations
  • 105. MEASURING PERFORMANCE LEADS NEW OPPORTUNITIES TRANSACTIONS REFERRALS REPEATS VS. HISTORICAL VS. MARKET
  • 106. MARKETING PLAN: PART 6 PERFORMANCE INDICATORS INDIVIDUAL
  • 107. APPLICATION Research Strategic Tactical Positioning Target Markets Segmentation Marketing Mix Implementation Control
  • 108. TREND SETTER
    • Select a marketing strategy or tactic that you will either start doing or keep doing when you return to your office.
    • Identify its appropriate place in the Marketing Management Process.
    • Why will it make your company a Trend Setter?
    • What action will you take to implement or enhance this strategy or tactic in the next 30 days?
  • 109. Thank you for attending! MARKETING MANAGEMENT Attract and Keep Customers for Life