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What is marketing in practical business

To those who wonder: what is marketing, exactly.
Presenter: Giang Nguyen, cofounder @SLIDE FACTORY.
Special thank to Mr Thuan Doan, Strategy, Innovation & Marketing Expert; Managing Director @StrategyM that have shared with me this knowledge.
To those who want to join us: http://bit.ly/SFmarketer.

What is marketing in practical business

  1. 1. What is “Marketing” MentorPresenter Mr. Giang Nguyen Cofounder @SLIDE FACTORY Mr. Thuan Doan Strategy, Innovation & Marketing Expert; Managing Director @StrategyM
  2. 2. Imagine, this is your company Your company
  3. 3. Your company creates a service or a product Product/ Service Your company Imagine, this is your company
  4. 4. Product/ Service Your company Your may/ or may not know who your customers are Customer Your company creates a service or a product Imagine, this is your company
  5. 5. Product/ Service Your company Customer (*)Some founders start their business based on customers assumption, some others start with the solution/ product they've already had. There is not a single right principle to start a business. Your may/ or may not know who your customers are, yet. Your company creates a service or a product Imagine, this is your company
  6. 6. Product/ Service Your company Customer Now let’s come back to the product/ service element
  7. 7. You somehow know the price you want to charge. CustomerYour company Product/ Service Price Now let’s come back to the product/ service element
  8. 8. CustomerYour company Product/ Service Price You know where to sell/ how to deliver the service/ product Place/ distribution You somehow know the price you want to charge. Now let’s come back to the product/ service element
  9. 9. CustomerYour company Product/ Service Price Place/ distribution You come up with a promotion plan using social network, advertising campaign,… Promotion You know where to sell/ how to deliver the service/ product You somehow know the price you want to charge. Now let’s come back to the product/ service element
  10. 10. CustomerYour company Product/ Service Price Place/ distribution Promotion Many people think “this is marketing.” Because it involves a lot of tools, techniques and communication strategy. But I don’t think so
  11. 11. CustomerYour company Product/ Service Price Place/ distribution Promotion For me, this is marketing. Marketing is a lot more than just promotion campaign or what you do on your Facebook page and your website. MARKETING
  12. 12. CustomerYour company Product/ Service Price Place/ distribution Promotion You may wonder: why there are so many white spaces there? Because there are much more elements to fill into this page. We will keep the elements we've already written down, and start over again. ? ? ? ? MARKETING
  13. 13. CustomerYour company Product/ Service Price Place/ distribution Promotion So you have a company.
  14. 14. CustomerYour company Product/ Service Price Place/ distribution Promotion To start a company, you should have at least 2 (two) things: Vision Aspiration A vision: what your company will become in the next 10 years? An aspiration/ a mission: why do you want to start this business? So you have a company.
  15. 15. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Having vision and aspiration is not enough There are two more things you should acknowledge before starting a business.
  16. 16. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Having vision and aspiration is not enough Your customers: You have to define who your customers are, who are willing to pay you/ who you want to make money from. There are two more things you should acknowledge before starting a business.
  17. 17. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Having vision and aspiration is not enough Your competitors: You must identify know who you are going to compete with in the future. Your customers: You have to define who your customers are, who are willing to pay you/ who you want to make money from. There are two more things you should acknowledge before starting a business.
  18. 18. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors We may call this phase “analyzing context” – analyzing all the external influences on a business. In this case, I only state out three elements to simplify the presentation: + Competitors + Company + Customer Context
  19. 19. CustomerYour Company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors May be you have heard of it as 3C’s model in marketing. (*)Please google for more information about 3C’s model (**)There are other models/ framework to analyze the context. For example, PESTLE Analysis framework. P – Political E – Economic S – Social T – Technological L – Legal E – Environmental Context
  20. 20. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition After analyzing the context, you don't jump to the product creation phase yet. You have to define your value proposition in order to create a service/ product Context What is the value you deliver to your customers? What is the value/ benefit your customers will be acquired? What problem are you solving for the customer? (…)
  21. 21. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition If you want the customer buy your product instead of your competitors', you must analyze your product’s strength and weakness to develop competitive strategies. In this case we use S.W.O.T analysis model. From that, you should be able to develop a branding proposition for your product. S.W.O.T analysis Branding proposition Context
  22. 22. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition S.W.O.T analysis Branding proposition Context Strategic planning I call this phase “Strategic planning”
  23. 23. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition S.W.O.T analysis Branding proposition By the way, this phase should be where the innovation flourishes Innovation Context Strategic planning I call this phase “Strategic planning”
  24. 24. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition S.W.O.T analysis Branding proposition Context Strategic planning Entering the market After all of the planning and analysis, we shall finally Entering the market (Phase 3) with our product/ service.
  25. 25. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition S.W.O.T analysis Branding proposition Context Strategic planning Entering the market That take a lot of planning, right Gandalf? After all of the planning and analysis, we shall finally Entering the market (Phase 3) with our product/ service.
  26. 26. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Value proposition S.W.O.T analysis Branding proposition Context Strategic planning Entering the market This time, you may recognize model "4Ps of marketing” - Product - Price - Place - Promotion
  27. 27. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Context Value proposition S.W.O.T analysis Branding proposition Strategic planning Go to market For me, all of these are the work of marketing. In my definition, marketing is all about creating and capturing customer value. And you need all of these elements to do that. Marketing
  28. 28. Thank you for your attention Before I end this presentation, just one more thing…
  29. 29. CustomerYour company Product/ Service Price Place/ distribution Promotion Vision Aspiration Competitors Context Value proposition S.W.O.T analysis Branding proposition Strategic planning Go to market Marketing If you agree with me on this definition of ”marketing”. And you want to do all these things…
  30. 30. With amazing, talented and out-of-earth teammates A COMPANY SHOULD LIMIT ITS GROWTH BASED ON ITS ABILITY TO ATTRACT ENOUGH OF THE RIGHT PEOPLE Jim Collins “ ”
  31. 31. To CHANGE THE WORLD, one slide at a time Retailing Food and Beverages Household Fashion … Technology Information and Technology Telecommunication Artificial Intelligent … Finance Finance and Banking Insurance Stock trading … Manufacture Industrial equipment Car manufacturing Mechanic …
  32. 32. Email: hr@slidefactory.vn Hotline: 0242.346.6555 Then we’re waiting for you http://bit.ly/SFmarketer

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