Marketing:  Doing it the entrepreneur’s way! A. H. Umwagarwa (2010)
This presentation:  ”Marketing – Doing it the entrepreneur’s way!  is protected by  copyright ©2010  EllenBliss . All righ...
We develop We train We consult We connect EllenBliss is a management consulting company with expertise in a wide range of ...
Defend Develop Devise Define Support, maintain, react to changes Unfolding, expanding, changing for growing Combination of...
Marketing:  Doing it the entrepreneur’s way! Defend Develop Devise Define
1. Write down five words that describe what you understand by the word ”marketing”  2. Write down five words that describe...
The 1 st  D Define  The 1 st  D Define
Define What’s Marketing? ” Marketing is about ensuring we provide fit for purpose products and services, to our customers,...
Define What’s Marketing? ” Marketing means solving customers’problems profitably”. (Randall G. Chapman) ? Customers Proble...
Define What’s Marketing? ” The aim of marketing is to know & understand the customer so well that the product or service f...
Define What’s Entrepreneurship ” Entrepreneurship results in the creation, enhancement, realisation and renewal of value n...
Define Pursue Opportunities Without Resources What’s Entrepreneurship ” Entrepreneurship is the process by which individua...
Define Marketing – The entrepreneur’s way! Customers Profit resources Opportunities Creation value Products Fit Sell Probl...
Stop &  Think Form at least three sentences that define entrepreneurial marketing using the words in the previous slide. N...
Define ” Pursuing opportunities  to  create  and  sell value  adding  products ;  fit  for  customers ’  problems ; with a...
Define Points to consider Know your customers’ needs, wants and demands Develop products & services with a purpose to sati...
The 2 nd  D Devise
Customers Devise
Devise Customers Attracting  customers Keeping &  growing customers Understanding customer needs Market segmentation Value...
Devise Attracting  customers The entrepreneur’s way Remember the objective is to grab opportunities without regard to reso...
Devise For what customers? What do they value? What are you offering? What benefits? Do customers have an alternative? How...
Devise Advertising Personal selling Sales promotion  Public relations  Direct marketing  Promotion – Different ways Rememb...
Devise Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keepin...
Devise Customer lifetime value Share of customer Customer equity Right relationships for the right customers Capturing cus...
Stop &  Think 1. List who your customers are. If you don’t have customers for the moment, come up with a fictional company...
Products Devise
Product development The  process Idea generation Idea screening Product concept development Marketing strategy development...
Product lifecycle The cycle Devise Introduce the product Grow its market Maintain the market Harvest the product
Stop &  Think <ul><li>Identify five uses of an air freshner. E.g. for toilet </li></ul><ul><li>For each use, decide differ...
Devise Competitors
Devise Competitor analysis Identifying competitors Assessing competitors Selecting competitors to attack and avoid Designi...
Devise Competitive strategy Porter classification: Treacy and Wiersema  classification: Overall cost leadership Differenti...
Devise Competitive position Market leader? Market challenger? Market follower? Market nicher? Competitors
Stop &  Think <ul><li>Take an industry of your choice </li></ul><ul><li>Write down three competitors in that industry </li...
The 3 rd  D Develop
Develop The aim is to make profits!
Develop The aim is to make profits! Effectiveness Profitable customers Profitable products Profitable businesses The aim i...
Efficiency Cost-benefit analysis Minimize overheads Maximize standards The aim is to make profits! Develop
Unfold, expand, learn, change Develop Master the trends today: It is all about that!!! Do-it-yourself business, Online bus...
What is particular about the following companies: Stop &  Think
The 4 th  D Defend
Defend Apply the rules of entrepreneurship:  <ul><li>Master your market, find a niche. </li></ul><ul><li>Know everything a...
Stop &  Think Case study: EasyJet
Summary Marketing the entrepreneur’s way! ” Pursuing opportunities to create and sell value adding products; fit for custo...
For more insights about ”Marketing – Doing it the entrepreneurial way!” You can order our  full article  and/or our  train...
Email:  [email_address] or [email_address]
 
Upcoming SlideShare
Loading in …5
×

Marketing Doing It The Entrepreneurs Way!

684 views

Published on

This presentation is offered to all professionals, managers, executives and leaders on linkedin.com, by EllenBliss Consulting

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
684
On SlideShare
0
From Embeds
0
Number of Embeds
7
Actions
Shares
0
Downloads
47
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Marketing Doing It The Entrepreneurs Way!

  1. 1. Marketing: Doing it the entrepreneur’s way! A. H. Umwagarwa (2010)
  2. 2. This presentation: ”Marketing – Doing it the entrepreneur’s way! is protected by copyright ©2010 EllenBliss . All rights reserved . No part of this publication may be reproduced, stored or transmitted in any form or by any means without the prior permission in writing from the copyright holder. However, users may print, download, or email articles for individual use. Copyright
  3. 3. We develop We train We consult We connect EllenBliss is a management consulting company with expertise in a wide range of management focus areas. We work with different companies all over the world mostly in Europe and Africa. We consult We connect We train We consult We connect We develop We train We consult We connect
  4. 4. Defend Develop Devise Define Support, maintain, react to changes Unfolding, expanding, changing for growing Combination of ideas, new applications of principles, new scheme Problem analysis, cause-effect analysis, 5Ws Our style EllenBliss 4Ds Combination of ideas, new applications of principles, new scheme Problem analysis, cause-effect analysis, 5Ws Unfolding, expanding, changing for growing Combination of ideas, new applications of principles, new scheme Problem analysis, cause-effect analysis, 5Ws Support, maintain, react to changes Unfolding, expanding, changing for growing Combination of ideas, new applications of principles, new scheme Problem analysis, cause-effect analysis, 5Ws
  5. 5. Marketing: Doing it the entrepreneur’s way! Defend Develop Devise Define
  6. 6. 1. Write down five words that describe what you understand by the word ”marketing” 2. Write down five words that describe what you understand by the word ”entrepreneurship” 3. Link every word on the marketing list to a word on entrepreneurship list that is close to it in terms of meaning. 3. Discuss Session opener
  7. 7. The 1 st D Define The 1 st D Define
  8. 8. Define What’s Marketing? ” Marketing is about ensuring we provide fit for purpose products and services, to our customers, at a profit better than the competition.” (Harry Hellyer Associates) Products Customers Profit Competitors
  9. 9. Define What’s Marketing? ” Marketing means solving customers’problems profitably”. (Randall G. Chapman) ? Customers Problems Profitably ” Marketing means solving customers’problems profitably”. (Randall G. Chapman) Customers Problems Profitably
  10. 10. Define What’s Marketing? ” The aim of marketing is to know & understand the customer so well that the product or service fits…. And sells itself”. (Philip Kotler) Customers Products Fit sell
  11. 11. Define What’s Entrepreneurship ” Entrepreneurship results in the creation, enhancement, realisation and renewal of value not just for the owners but for all participants & stakeholders.” (Timmons & Spinelli) Creation Value Stakeholders What’s Entrepreneurship ” Entrepreneurship results in the creation, enhancement, realisation and renewal of value not just for the owners but for all participants & stakeholders.” (Timmons & Spinelli) Creation Value Stakeholders What’s Entrepreneurship ” Entrepreneurship results in the creation, enhancement, realisation and renewal of value not just for the owners but for all participants & stakeholders.” (Timmons & Spinelli)
  12. 12. Define Pursue Opportunities Without Resources What’s Entrepreneurship ” Entrepreneurship is the process by which individuals – either on their own or inside the organizations – pursue opportunities without regard to the resources they currently control.” (Stevenson & Jarillo) NO
  13. 13. Define Marketing – The entrepreneur’s way! Customers Profit resources Opportunities Creation value Products Fit Sell Problems Competitors Pursue Stakeholders
  14. 14. Stop & Think Form at least three sentences that define entrepreneurial marketing using the words in the previous slide. N.B.: You can add some words as connectors
  15. 15. Define ” Pursuing opportunities to create and sell value adding products ; fit for customers ’ problems ; with a purpose to earn more profit than competitors , without regard to resources available.” Products Customers Profits Opportunities Opportunities Opportunities Competitors Marketing – The entrepreneur’s way!
  16. 16. Define Points to consider Know your customers’ needs, wants and demands Develop products & services with a purpose to satisy your customers Know your competitors Make profits Keep adding value Grab opportunites
  17. 17. The 2 nd D Devise
  18. 18. Customers Devise
  19. 19. Devise Customers Attracting customers Keeping & growing customers Understanding customer needs Market segmentation Value proposition Promotion & Advertising Customer relationship management Capturing value from customers ?
  20. 20. Devise Attracting customers The entrepreneur’s way Remember the objective is to grab opportunities without regard to resources available Market research – can be done online! Understand your customers’ needs, wants and demands Master the market segments – Choose your target Attracting customers The entrepreneur’s way Attracting customers Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers Market research – can be done online! Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers Market research – can be done online! Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers
  21. 21. Devise For what customers? What do they value? What are you offering? What benefits? Do customers have an alternative? How are you going to prove that you do what you promise? Choosing a value proposition Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers The entrepreneur’s way Attracting customers The entrepreneur’s way Attracting customers Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers Choosing a value proposition Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers Choosing a value proposition Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers
  22. 22. Devise Advertising Personal selling Sales promotion Public relations Direct marketing Promotion – Different ways Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers The entrepreneur’s way Attracting customers Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Attracting customers
  23. 23. Devise Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keeping customers Customer relationship management The entrepreneur’s way Keeping customers Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keeping customers Customer relationship management Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keeping customers Customer relationship management Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keeping customers Decide levels: Basic relationships vs full partnership Right relationships for the right customers – Pareto analysis Customer relationship management Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keeping customers
  24. 24. Devise Customer lifetime value Share of customer Customer equity Right relationships for the right customers Capturing customer value Remember the objective is to grab opportunities without regard to resources available The entrepreneur’s way Keeping customers
  25. 25. Stop & Think 1. List who your customers are. If you don’t have customers for the moment, come up with a fictional company and think about who would be your potential customers. 2. Identify at least three concrete ways you can take to attract your customers? 3. List them from the cheapest to the most expensive 4. Prepare scripts of your marketing communications 5. Discuss with others
  26. 26. Products Devise
  27. 27. Product development The process Idea generation Idea screening Product concept development Marketing strategy development Business analysis Product development Test marketing Devise
  28. 28. Product lifecycle The cycle Devise Introduce the product Grow its market Maintain the market Harvest the product
  29. 29. Stop & Think <ul><li>Identify five uses of an air freshner. E.g. for toilet </li></ul><ul><li>For each use, decide different five scents. E.g. Lemon aroma </li></ul><ul><li>Now you have 25 product ideas </li></ul><ul><li>3. For each air freshner (e.g, Toilet air freshner with lemon aroma), decide the shape of the container. E.g. cube </li></ul><ul><li>Now you have 125 product ideas </li></ul><ul><li>4. Merge your list with five other people to start a company producing air freshners – You have a pool of 625 product ideas </li></ul><ul><li>5. Screen your ideas, decide how you are going to earn money, decide production and marketing strategies. </li></ul><ul><li>6. Discuss </li></ul>
  30. 30. Devise Competitors
  31. 31. Devise Competitor analysis Identifying competitors Assessing competitors Selecting competitors to attack and avoid Designing a competitive intelligence system Competitors
  32. 32. Devise Competitive strategy Porter classification: Treacy and Wiersema classification: Overall cost leadership Differentiation Focus Operational excellence Customer intimacy Product leadership No one strategy fits for all companies Competitors
  33. 33. Devise Competitive position Market leader? Market challenger? Market follower? Market nicher? Competitors
  34. 34. Stop & Think <ul><li>Take an industry of your choice </li></ul><ul><li>Write down three competitors in that industry </li></ul><ul><li>Critically discuss their strategies </li></ul><ul><li>Share with your team </li></ul>
  35. 35. The 3 rd D Develop
  36. 36. Develop The aim is to make profits!
  37. 37. Develop The aim is to make profits! Effectiveness Profitable customers Profitable products Profitable businesses The aim is to make profits! Effectiveness Profitable customers Profitable products Profitable businesses The aim is to make profits! Effectiveness Profitable customers Profitable products Profitable businesses The aim is to make profits! Effectiveness Profitable customers Profitable products Profitable businesses The aim is to make profits! Effectiveness Develop The aim is to make profits! Develop Profitable customers Profitable products Profitable businesses The aim is to make profits! Develop Effectiveness Profitable customers Profitable products Profitable businesses The aim is to make profits! Develop
  38. 38. Efficiency Cost-benefit analysis Minimize overheads Maximize standards The aim is to make profits! Develop
  39. 39. Unfold, expand, learn, change Develop Master the trends today: It is all about that!!! Do-it-yourself business, Online business, Home-based business, Outsourcing, Mobile business
  40. 40. What is particular about the following companies: Stop & Think
  41. 41. The 4 th D Defend
  42. 42. Defend Apply the rules of entrepreneurship: <ul><li>Master your market, find a niche. </li></ul><ul><li>Know everything about your business </li></ul><ul><li>Offer high quality products and superior service </li></ul><ul><li>Be creative & innovative </li></ul><ul><li>Listen to your customers </li></ul>6. Know your competition and work to win 7. Plan for profits 8. Keep your overheads low and your standards high 9. Use technology as a tool for building your business 10. Ensure constant improvement
  43. 43. Stop & Think Case study: EasyJet
  44. 44. Summary Marketing the entrepreneur’s way! ” Pursuing opportunities to create and sell value adding products; fit for customers’ problems; with a purpose to earn more profit than competitors, without regard to resources available.” Points to consider: How to attract and keep customers?, how to develop value adding products and manage their life cycle?, how to manage competition? Grabing opportunities offered by the trends in markets Keeping overheads low with high standards and maximizing profits
  45. 45. For more insights about ”Marketing – Doing it the entrepreneurial way!” You can order our full article and/or our training video from EllenBliss Online Shop at www.ellenbliss.com
  46. 46. Email: [email_address] or [email_address]

×