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Marketing - Simplified



Distilled From One Of Al Ries’ & Jack Trout Books
                       by
               Rajes...
Disclaimer & Notes
 This is not my original presentation. I thank the authors for their wonderful insights
 I prepared the...
What Is Marketing?
 Marketing is:
 ◦ “Simply figuring out what you have to do
   to sell your product or service for a pro...
How Much To Spend On
Marketing?
 Spend enough to do the job
 Ground Rules to spend:
 ◦ Prepare marketing plans that presen...
Rules Of Distribution Channel
 The more direct the channel, the more
 control
 Don’t compete with your customers
 Always ‘...
How to Brand?
 Figure out a simple brand name that
 explains product benefit
 Figure out and communicate product
 differen...
How Should One Develop
Product Strategy?
 Product should always be either #1 or
 #2 or something new
 Something new means
...
Pricing Guidelines
 Always stay in the ballpark of competition
 People will pay a little higher for perceived
 value
 High...
Market Research
 Remember that most customers ‘talk
 and act differently’ and ‘buy what
 others buy’
 ◦ So, its pointless ...
What Is Good Advertising?
 Should dramatize a product’s point of
 difference. It should supply a reason a
 buy
 Avoid mean...
How to Pick The Right Medium
for Advertising?
 Media with ‘sound’ is more powerful than without
 sound
 Use the following
...
What about product logo?
 Design a logo around the product
 name
 A product name is more powerful than
 a symbol
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Marketing Simplified

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Marketing Simplified

  1. 1. Marketing - Simplified Distilled From One Of Al Ries’ & Jack Trout Books by Rajesh Sengamedu 13 Mar 2010
  2. 2. Disclaimer & Notes This is not my original presentation. I thank the authors for their wonderful insights I prepared the presentation from my notes taken while reading the book (unfortunately forgot to write down the name of the book) I found the simplicity of ideas expressed as the most compelling value proposition of the book. Our own experiences* in the startup, reaffirms some of the key points especially with ◦ Branding for product ◦ Distribution ◦ Pricing ◦ Promo tactics ◦ Market Research I think the book underplays the importance of Internet and considers it useful only as a promotional media, which I strongly disagree. ◦ Internet is not only a good promotional vehicle, but is also the most important and cheapest method of reaching a large consumer base spread across multiple geographies – both for selling products and services *: Any one interested to learn more drop me an email: rajesh dot sengamedu at gmail dot com. Would help if you can explain the real world difficulties /dilemmas that you are facing wrt your marketing strategy for me to provide you with a better response.
  3. 3. What Is Marketing? Marketing is: ◦ “Simply figuring out what you have to do to sell your product or service for a profit” ◦ Like a Movie with the product as the star. Everyone and everything in the movie is part of telling a simple story about why my product is different and it should be bought instead of other products
  4. 4. How Much To Spend On Marketing? Spend enough to do the job Ground Rules to spend: ◦ Prepare marketing plans that present each product in terms of its marketing life cycle ( Is it a new market, what is competition doing, what is differentiation etc) ◦ Rank product opportunities (can we get premium pricing?, is it a new idea that can establish leadership?, Is it commodity business?, Is the competition already established?) ◦ Assign advertising tasks ◦ Stop when you are out of money
  5. 5. Rules Of Distribution Channel The more direct the channel, the more control Don’t compete with your customers Always ‘show the money’ to your distribution channel
  6. 6. How to Brand? Figure out a simple brand name that explains product benefit Figure out and communicate product differentiation
  7. 7. How Should One Develop Product Strategy? Product should always be either #1 or #2 or something new Something new means ◦ Offering to a new sub-category (can be done if you segment the market well enough) Avoid line extensions as it dilutes the brand
  8. 8. Pricing Guidelines Always stay in the ballpark of competition People will pay a little higher for perceived value High quality products should be more expensive High priced products should offer prestige High prices & high profits attracts competition Its hard to win with low price Prices can go down
  9. 9. Market Research Remember that most customers ‘talk and act differently’ and ‘buy what others buy’ ◦ So, its pointless to research what customers want! Best way of spending money on market research: ◦ Figuring out differentiators as it exists in a customers’ mind for a particular category
  10. 10. What Is Good Advertising? Should dramatize a product’s point of difference. It should supply a reason a buy Avoid meaningless slogans Judge how well the ad dramatizes the product difference Judge how honest the message is, how simply the message is presented and whether or not there is some interesting news for the customer that translates into a benefit
  11. 11. How to Pick The Right Medium for Advertising? Media with ‘sound’ is more powerful than without sound Use the following ◦ PR: To launch the idea, give it credibility, create a buzz ◦ Advertising: To build the awareness rapidly for the idea ◦ Trade Shows: Generate excitement among industry insiders or distribution channels for the idea ◦ Internet: Offer more info on the idea (I disagree here) ◦ Direct Mail: Present the idea to a list of best or biggest customers ◦ Promotions: Generate trials for your new idea
  12. 12. What about product logo? Design a logo around the product name A product name is more powerful than a symbol

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