How We Manage: Contemporary Marketing Jeffery T. Wack, Ph.D. www.jtwack.com

Key Drivers of Market Demand Demographics + Economics + Social Forces + Government Policy + Competition External, Uncontrollable Manageable + The nature of the offering relative to alternatives

Demographics

+ Economics

+ Social Forces

+ Government Policy

+ Competition

Overview What marketing is NOT What M arketing is Big Marketing concepts Organizing Items for the Head’s agenda

What marketing is NOT

What M arketing is

Big Marketing concepts

Organizing

Items for the Head’s agenda

Contemporary Marketing is a Core (not tangential) Competency He doesn’t know Marketing. What I don’t know can’t be important.

Lay Barriers to Adoption of Marketing Not knowing what it is. Whatever it is, you don’t do it, and don’t want to do it. Thinking one knows what it is, and being wrong.

Not knowing what it is.

Whatever it is, you don’t do it, and don’t want to do it.

Thinking one knows what it is, and being wrong.

What Marketing Is Not

www.wikipedia.com The Lay Understanding of the Discipline of Marketing

What Marketing IS (Marketing with a capital ‘M’)

Short Definitions What is Marketing?  The ONLY business discipline focused on attracting resources Wack’s 5 Rs Reputation Recruits Retention Relationships Revenues

What is Marketing?

 The ONLY business discipline focused on attracting resources

Wack’s 5 Rs

Reputation

Recruits

Retention

Relationships

Revenues

A Taste of Marketing Questions Is the market growing? What are competitors doing? How can we stand out? Are program & pronouncements in line? How can we boost inquiries/yield? What is the impact of a common app? Can we package these disparate programs? , What factors predict choice? Offer merit scholarships? How can we better use parents/alumni? How can we attract teaching talent? How can the program be made stronger? Reorganize for new generation of parents?

Is the market growing?

What are competitors doing?

How can we stand out?

Are program & pronouncements in line?

How can we boost inquiries/yield?

What is the impact of a common app?

Can we package these disparate programs?

What factors predict choice?

Offer merit scholarships?

How can we better use parents/alumni?

How can we attract teaching talent?

How can the program be made stronger?

Reorganize for new generation of parents?

Is our tough grading hurting us with colleges? What is the message for an event? Are families pleased with the College Counseling? Should Development have its own communications office? How can we broaden faculty understanding of their roles? What characteristics of students predict giving as alumni? What programs are attractive to alumni? What is our image in the community? Among feeder schools? Consultants? How is the website being used? Do faculty know how to write recommendations? What are customers saying? Everyone On the Same Page

Is our tough grading hurting us with colleges?

What is the message for an event?

Are families pleased with the College Counseling?

Should Development have its own communications office?

How can we broaden faculty understanding of their roles?

What characteristics of students predict giving as alumni?

What programs are attractive to alumni?

What is our image in the community? Among feeder schools? Consultants?

How is the website being used?

Do faculty know how to write recommendations?

What are customers saying?

Cornerstone Marketing Principles

Principle: Marketing Mix The 4 P s (+1) of the Marketing Mix Demand is affected by how the offer to the market is configured and delivered. DEMAND P roduct/Program P romotion/ Communications P rice P eople P lace/Access/ Policies

ANALYSIS EXECUTION PLANNING Demographics Statistics Research Brochure Web Scripts Objectives Choices Design Assess! The Market Principle: Marketing is Strategic Vs Fire! Fire! Fire!

Demographics

Statistics

Research

Brochure

Web

Scripts

Objectives

Choices

Design

7 Foundation Concepts School Leaders Should Grasp

Squares A and B are the same shade

Principle: Ability to View from the Customer Perspective Mission versus Market Driven? Inside-out versus Outside-in

Mission versus Market Driven?

Inside-out versus Outside-in

Consider: How do Prospective Buyers Learn the Price? Recommended Read: Made to Stick, by Heath and Heath

Principle: Customers and Segments Other Segments School Current Families Alumni Prospects Colleges Strong Relationships = Stronger Networks Colleges Prospects Alumni School

Perceived Benefits Perceived Costs Value = Principle: Perceived Value The higher the perceived value, the higher the probability of purchase. How does “affordability” limit our thinking about demand?

Delivering Attracting Recruiting Soliciting Cultivating Referring Satisfaction Relationships Retaining Retention Loyalty Principle: Attention throughout the Customer Lifespan

Delivering

Recruiting

Soliciting

Cultivating

Referring

Satisfaction

Relationships

Retention

Loyalty

Draw a model of your organization

Faciliti Alumni Personnel/HR Development Business Office Facilities Faculty Touchpoints MARKETING Admissions Principle: Marketing is in Everyone’s Job Colleges Student Parents College Counseling Others

Parent/board WOM School fairs Visit website Reply to inquiry Post inquiry prompts Tour, interview Reply to application Accepts and Denies Second Visit day Post-accept recruiting Visits to school Phone contacts School profile Student’s application Recommendations Student’s interviews College fairs Feedback re: alumni performance Principle: Intentionality at Touch Points Inquiries/Applicants Colleges

Parent/board WOM

School fairs

Visit website

Reply to inquiry

Post inquiry prompts

Tour, interview

Reply to application

Accepts and Denies

Second Visit day

Post-accept recruiting

Visits to school

Phone contacts

School profile

Student’s application

Recommendations

Student’s interviews

College fairs

Feedback re: alumni performance

Tappers and Listeners

What is the meaning to parents at --lower school level? --upper school level? “ We are rigorous” “ We are nurturing” “ Freedom to take risks”

“ We are rigorous”

“ We are nurturing”

“ Freedom to take risks”

Principle: The Curse of Knowledge vs Vision Psychological Distance Related Expertise Renaissance Tendencies Zero-Gravity Thinkers From Innovation Killer, Rabe 2006

Organizing for More Effective Marketing Integrated Marketing, or Advancement Model

Consultation & Coordination Across the Vertically Silo-ed Organizational Structure Development : Annual fund Parents Association : Fundraiser Business Office : Tuition payment Athletics : Team uniform Communications : Bulletin subscription Admissions : Volunteer time Who’s asking parents for what, & when? “ Managing the Horizontal”

The 4 th Dimension of Integrated Marketing Prospect Alumnus Development Student Parent Bridge Ownership Gaps in the Customer-School Relationship Grade-to- Grade Within Grade Deans Admissions “ Managing the Longitudinal”

META-VIEW OF MARKETING DECISION-MAKING INFORMATION ACTIONS Authority Resources Ability to Execute Expertise DECISION UNIT

Case Example for Discussion Head Business Office Development Admissions Communications Marketing Parent Relations Events IT - Web Writing & Editorial Publications Production Old Title: Director of Communications

New Title: Director of Strategic Marketing and Communications Convenes monthly meeting of “advancement team” that includes: D of Admissions D of Development D of College Counseling Faculty representation Agenda and accountability built around “blueprint” Head Business Office Development Admissions Communications Writing & Editorial Publications Production Events Parents Relations Web Communication Coordination

Convenes monthly meeting of “advancement team” that includes:

D of Admissions

D of Development

D of College Counseling

Faculty representation

Agenda and accountability built around “blueprint”