Building a Guerrilla Marketing Plan By: Amanda Nieves Laurie Salmerón Rhaiza Casiano Alexandra Cruz
ON TARGET Summary Marketing Guerrilla Marketing Market Diversity: Pinpointing the Target Market Blane Nordahl One-size-fits all approach Determining Customer Needs and Wants Through Market Research
ON TARGET Summary How to Conduct Market Research One-to-one marketing Activity #1 Guerrilla marketing strategies The Marketing Mix Final Activity Questions
ON TARGET Marketing Marketing- is everything you do to promote your business, from the moment you conceive of it to the point at which customers buy your product or service and begin to patronize your business on a regular basis.
ON TARGET Marketing The key of success: Understand target customers, needs, demands, and wants before competitors can Offer them products and services to satisfy those needs, demands, and wants Provide customers with quality, service, convenience, and value so they will keep coming back.
ON TARGET Guerrilla Marketing The term "guerrilla Guerilla Marketing marketing" was first Strategies- is a used by Jay Conrad marketing method Levinson in his described as: popular 1984 book, Guerrilla Marketing. unconventional, lo w cost, creative techniques.
ON TARGET Jay Conrad Levinson The father of Guerrilla Marketing The author of the “Guerrilla Marketing” series of books. Was born in Detroit and raised in Chicago Graduated from the University of Colorado. He created and taught guerrilla marketing for ten years in the University of California in Berkeley.
ON TARGET Guerrilla Marketing A guerrilla marketing plan should accomplish four objectives: Pinpoint the target markets the small company will serve Determine customer needs, wants, and characteristics through market research Analyze a company’s competitive advantages and build and effective, cost-efficient marketing around them. Create a marketing mix that meets customer needs and wants.
ON TARGET Market Diversity: Pinpointing the Target Market One of the first steps in building a marketing plan is identifying a small company’s target market which is the group of customers at whom the company aims its products and services. The more a business learns from market research about its local markets, its customers, and their buying habits and preferences, the more precisely it can focus its marketing efforts on the group(s) of prospective and existing customers who are most likely to buy its products or services.
ON TARGET Blane Nordahl One of the most successful cat burglars ever Specialized in stealing only the finest sterling silver Meticulous market research allowed him to target exactly the right homes to rob Research tools he used where: * local libraries *publications such as the duPont Registry and Sotheby’s Previews to identify and learn about upscale neighborhoods Worked for more than 15 years
ON TARGET Blane Nordahl Although Nordahl used a creative marketing approach to achieve illegal gain, small businesses can use a similar approach to make their marketing strategies more successful. Unfortunately, most marketing experts contend that the greatest marketing mistake that small businesses make is failing to define clearly the target market they will serve. Failing to pinpoint their target markets is especially ironic because small firms are ideally suited to reaching market segments that their larger rivals overlook or consider too small to be profitable.
ON TARGET Determining Customer Needs and Wants Through Market Research Market research is the vehicle for gathering the information that serves as the foundation for the marketing plan. It involves systematically collecting, analyzing, and interpreting data pertaining to the small company’s market, customers, and competitors.
Market research allows entrepreneurs to answerON TARGET questions such as: Who are my customers and potential customers? To which age group(s) do they belong? What is their income level? Where do they live? Do they rent or own their own homes? What features are they looking for in the products or services I sell? How often do they buy these products or services? What models, styles, colors, or flavors do they prefer?
ON TARGET Market research allows entrepreneurs to answer questions such as: Simulation – Nothing To Wear What radio stations do they listen to? Which Web sites do they visit? What factors are most important to their buying decisions? How do the strengths of my product or service serve their needs and wants? What hours do they prefer to shop? How do they perceive my business? Which advertising media are most likely to reach them? How do customers perceive my business versus others?
ON TARGET Market Research Market research for a small business can be informal; it does not have to be time consuming, complex, or expensive to be valuable. Many entrepreneurs are discovering the speed, the convenience, and the low cost of conducting market research over the Web. Online surveys, customer opinion polls, and other research projects are easy to conduct, cost virtually nothing, produce quick responses, and help companies connect with their customers.
ON TARGET How to Conduct Market Research The marketing approach that companies of all sizes strive to achieve is individualized (or one-to-one) marketing This system consists on gathering data on individual customers and then developing a marketing plan designed specifically to appeal to their needs, tastes, and preferences. Its goal is not only to attract customers but also to keep them and to increase their purchases. One-to-one marketing gives a business a competitive advantage, the goal is to treat each customer as an individual.
ON TARGET Market Research Primary Research: Secondary Research: Customer surveys and Business directories questionnaires Direct mail lists Social media Demographic data Focus groups Census data Daily transactions Forecasts Others Market research Articles Local data The Web
ON TARGET Place Method of distribution For consumer goods: Manufacturer to consumer Manufacturer to retailer to consumer Manufacturer to wholesaler to retailer to consumer. Manufacturer to wholesaler to wholesaler to retailer to consumer. For Industrial goods: Manufacturer to industrial user. Manufacturer to wholesaler to industrial user.
ON TARGET Price The right price for a product or service depends on three factors: A small company’s cost structure An assessment of what the market will bear The desired image the company wants to create in its customers’ minds.
ON TARGET Promotion Involves advertising and personal selling The goals are to create: Brand image To persuade customers to buy Develop brand loyalty