Traditional And Innovation Based Marketing

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Options, elements and steps required to form your business's marketing plan and an example of how systematic innovation can create victories in the market. Features tools and credits Blue Ocean Strategy by Kim and Mauborgne.

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Traditional And Innovation Based Marketing

  1. 1. Connect with Mike<br />HanberyMarketing.com<br />LinkedIn.com/in/MikeHanbery<br />Facebook.com/Denver.SocialMarketing<br />Twitter @MikeHanbery<br />
  2. 2. The Social Network Compass<br />Ebook<br />February, 2010<br />By<br />Mike Hanbery, MBA<br />Navigate your course through Internet Social Networks.<br />
  3. 3. A Market Without Competitors<br />Mike Hanbery, M.B.A.<br />Traditional and Innovative Approaches to Marketing your Business<br />HANBERY MARKETING<br />
  4. 4. Marketing Plan Components<br />Market Summary<br />SWOT Analysis*<br />Marketing Strategy<br />Financials<br />Controls<br />
  5. 5. Market Summary Components<br />Target Markets<br />Demographics, Geographics, Behaviors<br />Market Needs<br />Market Trends<br />
  6. 6. Other Critical Components<br />Financials<br /><ul><li>Break-Even Analysis
  7. 7. Sales Forecast
  8. 8. Expense Forecast</li></ul>Controls<br /><ul><li>Implementation (Milestones)
  9. 9. Organization (Accountability)
  10. 10. Contingency Planning</li></li></ul><li>Traditional Marketing Strategies<br />
  11. 11. Michael Porter<br />Five Forces<br />
  12. 12. Generic Strategies<br />Cost Leadership<br />Differentiation<br />Focus/Niche<br />
  13. 13. Strategic Alliances<br />Product/Service Alliances<br />Promotional Alliances<br />Logistics Alliances<br />Pricing Collaborations<br />
  14. 14. Innovation Marketing Strategy<br />
  15. 15. “New Growth Theory”<br />
  16. 16. Blue Ocean Strategy<br />2005 Publication<br />Kim & Mauborgne (INSEAD)<br />Pursues systematic innovation as marketing strategy<br />
  17. 17. B.O.S. Tools<br />Strategy Canvas + Value Curve<br />Example: US Wine Industry, Late 1990’s<br />High<br />Premium Wines<br />OFFERING LEVEL<br />Budget Wines<br />Low<br />Wine range<br />Above-the-line marketing<br />Vineyard prestige and legacy<br />Price<br />Use of enological terminology<br />Aging quality<br />Wine complexity<br />PRINCIPAL FACTORS<br />
  18. 18. B.O.S. Tools<br />Four Actions Framework<br />Reduce<br />Which factors should be reduced well below industry standards?<br />Create<br />Eliminate<br />Which factors should be created that the industry has never offered?<br />Which of the factors that the industry takes for granted should be eliminated?<br />A New Value Curve<br />Raise<br />Which factors should be raised well above the industry’s standard?<br />
  19. 19. B.O.S. Tools<br />Eliminate/Reduce/Raise/Create Grid<br />
  20. 20. B.O.S. Tools<br />Strategy Canvas + Value Curve:<br />[ yellow tail ]<br />High<br />Premium Wines<br />[ yellow tail ]<br />Budget Wines<br />OFFERING LEVEL<br />Low<br />Ease of Selection<br />Above-the-line marketing<br />Vineyard prestige and legacy<br />Wine range<br />Price<br />Use of enological terminology<br />Easy Drinking<br />Fun & Adventure<br />Aging quality<br />Wine complexity<br />PRINCIPAL FACTORS<br />
  21. 21. B.O.S. Tools<br />Strategy Canvas + Value Curve:<br />[ yellow tail ]<br />High<br />Premium Wines<br />[ yellow tail ]<br />Budget Wines<br />OFFERING LEVEL<br />Low<br />Ease of Selection<br />Above-the-line marketing<br />Vineyard prestige and legacy<br />Wine range<br />Price<br />Use of enological terminology<br />Easy Drinking<br />Fun & Adventure<br />Aging quality<br />Wine complexity<br />PRINCIPAL FACTORS<br />
  22. 22. References<br />Grant, R. M. (2008). Contemporary Strategy Analysis (6e). Carlton, Victoria, Austrailia: Blackwell Publishing.<br />Kim, W.C. & Mauborgne, R. (2005). Blue Ocean Strategy. Boston, MA: Harvard Business School Publishing Corp.<br />Kotler, P. & Keller, K.L. (2006). Marketing Management (12e). Upper Saddle River, NJ: Pearson Prentice Hall.<br />
  23. 23. The Social Network Compass<br />Ebook<br />February, 2010<br />By<br />Mike Hanbery, MBA<br />Navigate your course through Internet Social Networks.<br />
  24. 24. Connect with Mike<br />HanberyMarketing.com<br />LinkedIn.com/in/MikeHanbery<br />Facebook.com/Denver.SocialMarketing<br />Twitter @MikeHanbery<br />

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