This document provides guidance on creating an effective marketing plan, with a focus on guerrilla marketing strategies. It discusses conducting market research to understand customer needs and pinpoint target markets. Relationship marketing and customer relationship management are emphasized to build loyalty. Additional topics covered include the marketing mix, product life cycle stages, distribution channels, and using the internet and speed in marketing. The overall goal is to stand out from larger competitors through unconventional, low-cost creative techniques.
March Issue of STOrai featuring a contributory article from Caroline PapadatosABC India
ย
Turning Retail Footfalls into Retail Gains: This article by Caroline Papadatos in the latest edition of STOrai, highlights how data is a retailerโs key for turning footfalls into financial gains. Caroline outlines that the marketer's journey still begins with the traditional measures of brand consideration - building retail awareness, building a positive attitude to brands, and incentivising trial.
March Issue of STOrai featuring a contributory article from Caroline PapadatosABC India
ย
Turning Retail Footfalls into Retail Gains: This article by Caroline Papadatos in the latest edition of STOrai, highlights how data is a retailerโs key for turning footfalls into financial gains. Caroline outlines that the marketer's journey still begins with the traditional measures of brand consideration - building retail awareness, building a positive attitude to brands, and incentivising trial.
Delivering on the one-to-one promise is not a one-time exercise. It's an ongoing pursuit that is continuously measured and refined. Learn the ten critical success factors to cultivating profitable customer relationships. We share these with you as key benchmarks to any successful loyalty marketing program.
More CRM and Loyalty Marketing Resources
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Systematic New Loyalty Program Development: http://www.customerinsightgroup.com/systematic-new-loyalty-program
Pinterest: http://pinterest.com/engagekeepgrow/
Who is Customer Insight Group?
Customer Insight Group, Inc. leads the way in the evolution of how companies engage their customers, positively motivate them and earn their long-term loyalty. Our extensive client work is testimony to our depth of knowledge and ability to apply strategic insight and solutions to a wide variety of business objectives. Our teamโs client experience includes: NHFA, Thomasville Furniture, The Maxim Group Carpet Franchise, Ashro, A&P, The Bon Ton, Crate & Barrel, Dickโs Sporting Goods, Edwin Watts Golf, GE Consumer Finance, Monroe and Main, Swiss Colony, Midnight Velvet, MySwingle.com, The Great Indoors, G.H. Bass, Golf Galaxy, Helzberg Diamonds, HSBC, Kohlโs, La-z-boy Furniture Franchise, MCI, Payless ShoeSource, Pier 1 Imports, Petco, Proflowers.com, Regis University, Ruby Tuesday, S&K Menswear, Sierra Trading Post, Stein Mart, Tommy Hilfiger, Ulta, as well as various other leading companies.
Achieving Dialogue In The Age Of The Omni-Channel CustomerG3 Communications
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"Blast" marketing strategies of the past are no longer sufficient to engage today's customers and foster loyalty. Typical campaign response rates have plummeted while customer opt-out rates have ascended, limiting your ability to converse with even your most valuable customers. New automated dialogue strategies can help retailers create a seamless experience across all channels and engage with each of their customers as individuals, connecting every customer communication - outbound, inbound, marketing, sales or service - into an ongoing dialogue where customer insight and understanding forms the basis for each and every interaction.
Big Data, Bigger Campaigns: Using IBMโs Unica and Netezza Platforms to Increa...graemeknows
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Is your organization challenged by the explosion of data and increasing expectations for results? Unica Campaign Management and IBM Netezza appliances can provide capabilities to address and overcome them. This presentation offers customer case histories and performance studies that provide insights in today's world where digital and traditional channels are increasingly intertwined.
PR Congress 2011 | Plenary 5 - Have They Come Back for Seconds?prcongress2011
ย
Plenary 5 of the 18th National PR Congress last 22 to 23 September dealt with Customer Relationship Management. Customer service has now evolved from merely addressing customer queries to maintaining relationships with them. It is not just a matter of acquiring customers, but more importantly, it is about retaining them.
The session underscored the importance of trust-based discussions and sharing mutually-beneficial objectives in customer relationship management. Panelistsโ inputs revolved around strategies, obstacles, and imperatives in building customer trust.
Topic Presenter:
Ms. Ichay Bulaong, CRM Head, ABS-CBN
Moderator:
Ms. Angelica Esguerra-Petterson, Executive Director, Australia New Zealand Chamber of Commerce Philippines
Topic Discussants:
Ms. Sandra Puno, Director for Communications, Nestle Philippines
Dr. Francisco Tranquilino, Advisor to the Ethic Committee, Pharmaceutical and Healthcare Association of the Philippines
Path To Revolutionary Merchandising And Marketing DecisionsG3 Communications
ย
Retailers are under pressure from all sides today, from the empowered consumer to increased competition. Leading retailers have joined the revolution to harness the power of their data assets to improve their merchandising and marketing actions that drive real business value.
Hear DemandTec, an IBM Company and a recognized Retailer discuss the revolution that is driving superior decisions across price, promotion, and assortment by introducing science to put the shopper at the center of each decision.
In this webinar you will learn the value of integrating your merchandising and marketing decisions, and effectively collaborating within your organization and with your manufacturer trading partners. We will discuss how to
Use shopper insights to make better merchandising decisions
Localize your assortment through optimization and collaboration
Deliver relevant, targeted promotions
Make pricing decisions that drive category and customer goals
Partner with your manufacturing partners across all your activities
October 20, 2010 Santa Clara University Leavey School of Business speaker slides for the Mktg 551 MBA course, presented for discussion with Professor Ravi Shanmugam's class.
9 ways how cause marketing can help you achieve your marketing objectives.Ritvvij Parrikh
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Effective Cause Marketing coupled with technology can help businesses to differentiate brand, improve customer engagement and increase sales through the power of charity.
This information outlines what it takes to make a World Class sales force by understanding the types of
salespeople and how to measure their specific sales โDNAโ to optimize performance.
Delivering on the one-to-one promise is not a one-time exercise. It's an ongoing pursuit that is continuously measured and refined. Learn the ten critical success factors to cultivating profitable customer relationships. We share these with you as key benchmarks to any successful loyalty marketing program.
More CRM and Loyalty Marketing Resources
Loyalty Blog: http://www.customerinsightgroup.com/loyaltyblog/
eBooks: http://www.customerinsightgroup.com/white-papers
Loyalty Workshops: http://www.customerinsightgroup.com/custom-loyalty-workshops
Systematic New Loyalty Program Development: http://www.customerinsightgroup.com/systematic-new-loyalty-program
Pinterest: http://pinterest.com/engagekeepgrow/
Who is Customer Insight Group?
Customer Insight Group, Inc. leads the way in the evolution of how companies engage their customers, positively motivate them and earn their long-term loyalty. Our extensive client work is testimony to our depth of knowledge and ability to apply strategic insight and solutions to a wide variety of business objectives. Our teamโs client experience includes: NHFA, Thomasville Furniture, The Maxim Group Carpet Franchise, Ashro, A&P, The Bon Ton, Crate & Barrel, Dickโs Sporting Goods, Edwin Watts Golf, GE Consumer Finance, Monroe and Main, Swiss Colony, Midnight Velvet, MySwingle.com, The Great Indoors, G.H. Bass, Golf Galaxy, Helzberg Diamonds, HSBC, Kohlโs, La-z-boy Furniture Franchise, MCI, Payless ShoeSource, Pier 1 Imports, Petco, Proflowers.com, Regis University, Ruby Tuesday, S&K Menswear, Sierra Trading Post, Stein Mart, Tommy Hilfiger, Ulta, as well as various other leading companies.
Achieving Dialogue In The Age Of The Omni-Channel CustomerG3 Communications
ย
"Blast" marketing strategies of the past are no longer sufficient to engage today's customers and foster loyalty. Typical campaign response rates have plummeted while customer opt-out rates have ascended, limiting your ability to converse with even your most valuable customers. New automated dialogue strategies can help retailers create a seamless experience across all channels and engage with each of their customers as individuals, connecting every customer communication - outbound, inbound, marketing, sales or service - into an ongoing dialogue where customer insight and understanding forms the basis for each and every interaction.
Big Data, Bigger Campaigns: Using IBMโs Unica and Netezza Platforms to Increa...graemeknows
ย
Is your organization challenged by the explosion of data and increasing expectations for results? Unica Campaign Management and IBM Netezza appliances can provide capabilities to address and overcome them. This presentation offers customer case histories and performance studies that provide insights in today's world where digital and traditional channels are increasingly intertwined.
PR Congress 2011 | Plenary 5 - Have They Come Back for Seconds?prcongress2011
ย
Plenary 5 of the 18th National PR Congress last 22 to 23 September dealt with Customer Relationship Management. Customer service has now evolved from merely addressing customer queries to maintaining relationships with them. It is not just a matter of acquiring customers, but more importantly, it is about retaining them.
The session underscored the importance of trust-based discussions and sharing mutually-beneficial objectives in customer relationship management. Panelistsโ inputs revolved around strategies, obstacles, and imperatives in building customer trust.
Topic Presenter:
Ms. Ichay Bulaong, CRM Head, ABS-CBN
Moderator:
Ms. Angelica Esguerra-Petterson, Executive Director, Australia New Zealand Chamber of Commerce Philippines
Topic Discussants:
Ms. Sandra Puno, Director for Communications, Nestle Philippines
Dr. Francisco Tranquilino, Advisor to the Ethic Committee, Pharmaceutical and Healthcare Association of the Philippines
Path To Revolutionary Merchandising And Marketing DecisionsG3 Communications
ย
Retailers are under pressure from all sides today, from the empowered consumer to increased competition. Leading retailers have joined the revolution to harness the power of their data assets to improve their merchandising and marketing actions that drive real business value.
Hear DemandTec, an IBM Company and a recognized Retailer discuss the revolution that is driving superior decisions across price, promotion, and assortment by introducing science to put the shopper at the center of each decision.
In this webinar you will learn the value of integrating your merchandising and marketing decisions, and effectively collaborating within your organization and with your manufacturer trading partners. We will discuss how to
Use shopper insights to make better merchandising decisions
Localize your assortment through optimization and collaboration
Deliver relevant, targeted promotions
Make pricing decisions that drive category and customer goals
Partner with your manufacturing partners across all your activities
October 20, 2010 Santa Clara University Leavey School of Business speaker slides for the Mktg 551 MBA course, presented for discussion with Professor Ravi Shanmugam's class.
9 ways how cause marketing can help you achieve your marketing objectives.Ritvvij Parrikh
ย
Effective Cause Marketing coupled with technology can help businesses to differentiate brand, improve customer engagement and increase sales through the power of charity.
This information outlines what it takes to make a World Class sales force by understanding the types of
salespeople and how to measure their specific sales โDNAโ to optimize performance.
10 Actions To Help Ensure Your Business Succeeds | BBH StockholmAlexander Nilรฉhn
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A BBH briefing on how to ensure your business succeeds in the time of COVID-19: How brands stay relevant, stay useful and emerge strong.
Please steal and share.
This folder introduces customer insight expert emnos, an international consultancy which helps retailers and consumer businesses across the world make better commercial decisions.
emnos offers a unique combination of data analytics, consulting, solutions and services that enable its clients to effectively use, and benefit from, customer insight. With this, clients are able to optimise communications, pricing, promotions, ranging and store layout and make marketing communication relevant and integrated across multiple channels.
More information: www.emnos.com
Affordable Stationery Printing Services in Jaipur | Navpack n PrintNavpack & Print
ย
Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
"๐ฉ๐ฌ๐ฎ๐ผ๐ต ๐พ๐ฐ๐ป๐ฏ ๐ป๐ฑ ๐ฐ๐บ ๐ฏ๐จ๐ณ๐ญ ๐ซ๐ถ๐ต๐ฌ"
๐๐ ๐๐จ๐ฆ๐ฌ (๐๐ ๐๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
๐๐ ๐๐จ๐ฆ๐ฌ provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
โญ ๐ ๐๐๐ญ๐ฎ๐ซ๐๐ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐ฌ:
โข 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
โข SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
โขFreenBecky 1st Fan Meeting in Vietnam
โขCHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
โข WOW K-Music Festival 2023
โข Winner [CROSS] Tour in HCM
โข Super Show 9 in HCM with Super Junior
โข HCMC - Gyeongsangbuk-do Culture and Tourism Festival
โข Korean Vietnam Partnership - Fair with LG
โข Korean President visits Samsung Electronics R&D Center
โข Vietnam Food Expo with Lotte Wellfood
"๐๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ง๐ญ ๐ข๐ฌ ๐ ๐ฌ๐ญ๐จ๐ซ๐ฒ, ๐ ๐ฌ๐ฉ๐๐๐ข๐๐ฅ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ. ๐๐ ๐๐ฅ๐ฐ๐๐ฒ๐ฌ ๐๐๐ฅ๐ข๐๐ฏ๐ ๐ญ๐ก๐๐ญ ๐ฌ๐ก๐จ๐ซ๐ญ๐ฅ๐ฒ ๐ฒ๐จ๐ฎ ๐ฐ๐ข๐ฅ๐ฅ ๐๐ ๐ ๐ฉ๐๐ซ๐ญ ๐จ๐ ๐จ๐ฎ๐ซ ๐ฌ๐ญ๐จ๐ซ๐ข๐๐ฌ."
Implicitly or explicitly all competing businesses employ a strategy to select a mix
of marketing resources. Formulating such competitive strategies fundamentally
involves recognizing relationships between elements of the marketing mix (e.g.,
price and product quality), as well as assessing competitive and market conditions
(i.e., industry structure in the language of economics).
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
ย
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Discover the innovative and creative projects that highlight my journey throu...dylandmeas
ย
Discover the innovative and creative projects that highlight my journey throughย Full Sail University. Below, youโll find a collection of my work showcasing my skills and expertise in digital marketing, event planning, and media production.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
ย
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Putting the SPARK into Virtual Training.pptxCynthia Clay
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This 60-minute webinar, sponsored by Adobe, was delivered for the Training Mag Network. It explored the five elements of SPARK: Storytelling, Purpose, Action, Relationships, and Kudos. Knowing how to tell a well-structured story is key to building long-term memory. Stating a clear purpose that doesn't take away from the discovery learning process is critical. Ensuring that people move from theory to practical application is imperative. Creating strong social learning is the key to commitment and engagement. Validating and affirming participants' comments is the way to create a positive learning environment.
Business Valuation Principles for EntrepreneursBen Wann
ย
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
1. Creating a
Creating a
Powerful
Powerful
Marketing Plan
Marketing Plan
1
2. This fishing lure manufacturer I know had all these
flashy green and purple lures.
I asked, โDo fish take these?โ
โCharlie,โ he said, โI donโt sell these lures to fish.โ
- Charles Munger
2
3. Building a Guerrilla Marketing Plan
Marketing
The process of creating and delivering
desired goods and services to customers.
Involves all of the activities associated with
winning and retaining loyal customers.
Guerrilla marketing strategies
Unconventional, low-cost, creative marketing
techniques that allow a small company to
wring more bang from its marketing bucks
than do larger rivals.
3
4. A Guerrilla
Marketing Plan
1. Pinpoints the specific target markets the
company will serve.
2. Determines customer needs and wants
through market research.
3. Analyzes a firm's competitive advantages and
builds a marketing strategy around them.
4. Creates a marketing mix that meets customer
needs and wants.
4
5. MARKETING MIX
Product Price Place Promotion
Channel
Functionality List price members Advertising
Channel Personal
Appearance Discounts motivation selling
Market Public
Quality Allowances coverage relations
Packaging Financing Locations Message
Leasing
Brand options Logistics Media
Warranty Service levels Budget
5
6. Pinpointing the Target Market
One objective of market research
is to pinpoint the company's target
market, the specific group of
customers at whom the company
aims its products or services.
Without a clear image of its target
market, a small company tries to
reach almost everyone and ends up
appealing to almost no one!
6
7. Market Research
Market research is the vehicle for gathering the
information that serves as the foundation for
the marketing plan.
Never assume that a market exists for your
companyโs product or service; prove it!
Market research does not have to be time
consuming, complex, or expensive to be useful.
7
8. Market Research
(continued)
How to Conduct Market Research:
Define the objective.
Collect the data.
Individualized (one-to-one) marketing
8
9. How to Become an Effective One-to-One Marketer.
Enhance your products and
Identify your best customers,
services by giving customers
never passing up the
information about them and how
opportunity to get their names.
to use them.
See customer complaints
Collect information on these for what they are - a
customers, linking their chance to improve
identities to their transactions. your service and
quality. Encourage
Successful complaints and then
One-to-One fix them!
Marketing
Calculate the long-term value Make sure your companyโs
of customers so you know product and service quality
which ones are most desirable will astonish your customers.
(and most profitable).
Know what your customersโ
buying cycle is and time your
marketing efforts to coincide
with it - โjust-in-time marketing.โ
10. Market Research
(continued)
How to Conduct Market Research:
Define the problem.
Collect the data.
Individualized (one-to-one) marketing
Data mining
Analyze the data and interpret the
results.
Draw conclusions and act.
10
11. DATAMINING
Data mining is a process in which computer
software that uses statistical analysis, database
technology, and artificial intelligence finds
hidden patterns, trends, and connections in
data so that business owners can make better
marketing decisions and predictions about
customersโ behavior.
11
12. RESEARCH TECHNIQUES
PRIMARY SECONDARY
Customer Surveys Business Directories
Focus Groups Direct-mail lists
Daily transactions Census Data
Other Ideas Forecasts
Articles
12
13. Relationship Marketing
(Customer Relationship Management)
Involves developing and maintaining long-term
relationships with customers so that they will
keep coming back to make repeat purchases.
Small companies have an advantage over their
larger rivals at relationship marketing.
Requires a company to make customer service
an all-encompassing part of its culture.
Customers are part of all major issues the
company faces.
13
14. The Relationship Marketing Process
If you have done Analyze
everything else correctly,
this step is relatively easy. Sell,
Superb customer service is
the best way to retain your Service, Conduct detailed customer intelligence to
most valuable customers. and Satisfy pinpoint most valuable customers and to learn
all you can about them, including their lifetime
value (LTV) to the company.
Build Connect
Relationships &
Collect
Based on what you have
learned, contact customers Make contact with most valuable customers
with an offer designed for Learn and begin building a customer database using
them. Make customers feel data mining and data warehousing techniques.
special and valued.
Learn from your customers by encouraging
feedback from them; develop a thorough
customer profile and constantly refine it.
14
15. Steps in CRM
Collect meaningful information on existing
customers and compile it in a database.
Mine the database to identify the companyโs
best and most profitable customers and their
buying habits.
Use the information to establish lasting
relationships with these customers.
Attract more customers who fit the profile of
the companyโs best customers.
15
16. Four Levels of Customer Sensitivity
Level 4: Customer Partnership. The company has embraced a customer service attitude
as an all-encompassing part of its culture. Customers are part of all major decisions.
Employees throughout the company routinely use data mining reports to identify the
best customers and to serve them better. The focus is on building lasting relationships
with the companyโs best customers.
Level 3: Customer Alignment. Managers and employees understand the customersโ
central role in the business. They spend considerable time talking about and with
customers, and they seek feedback through surveys, focus groups, customer visits, and
other techniques.
Level 2: Customer Sensitivity. A wall stands between the company and its customers.
Employees know a little about their customers but donโt share this information with
others in the company. The company does not solicit feedback from customers.
Level 1: Customer Awareness. Prevailing attitude: โThereโs a customer out there.โ
Managers and employees know little about their customers and view them only in the
most general terms. No one really understands the benefit of close customer
relationships.
16
17. Guerrilla Marketing Strategies
Find a niche and fill it.
Donโt just sell; entertain.
Strive to be unique.
Create an identity for your
business.
Connect with customers on an
emotional level.
17
18. Guerrilla Marketing Strategies
(continued)
Focus on the customer.
Devotion to quality.
Attention to convenience.
Concentration on
innovation.
Dedication to service and
customer satisfaction.
Emphasis on speed.
18
19. Focus on the Customer
67% of customers who stop patronizing a
business do so because an indifferent employee
treated them poorly.
96% of dissatisfied customers never complain
about rude or discourteous service, but...
91% will not buy from that business again.
100% will tell their โhorror storiesโ to at
least nine other people.
13% of those unhappy customers will tell
their stories to at least 20 other people.
19
20. Focus on the Customer
(continued)
Treating customers indifferently or poorly costs the
average company from 15% to 30% of gross sales!
Replacing lost customers is expensive; it costs five
times as much to attract a new customer as it does
to sell to an existing one!
About 70% of a companyโs sales come from
existing customers.
Because 20% of a typical companyโs customers
account for about 80% of its sales, no business can
afford to alienate its best and most profitable
customers and survive!
20
21. Focus on the Customer
(continued)
Companies that are successful at retaining
their customers constantly ask themselves
(and their customers) four questions:
1. What are we doing right?
2. How can we do that even better?
3. What have we done wrong?
4. What can we do in the future?
21
22. Devotion to Quality
Quality-more than just a slogan on the
company bulletin board.
World-class companies treat quality as a
strategic objective, an integral part of the
company culture.
This is the philosophy of Total Quality
Management (TQM).
Quality in the product or service itself.
Quality in every aspect of the business and its
relationship with the customer.
Continuous improvement in quality.
22
23. How Do Customer Define Quality
in a Product?
Reliability (average time between breakdowns)
Durability (how long an item lasts)
Ease of use
Quality
Known or trusted brand name
Low price
23
24. How Do Customer Define Quality
in a Service?
Tangibles (equipment, facilities,
people)
Reliability (doing what you say you
will do) Quality
Responsiveness (promptness in
helping customers)
Assurance and empathy (conveying
a caring attitude)
24
25. Attention to Convenience
Is your business conveniently located near
customers?
Are your business hours suitable to your
customers?
Would customers appreciate pickup and
delivery services?
Do you make it easy for customers to buy
on credit or with credit cards?
25
26. Attention to Convenience
(continued)
Are your employees trained to handle
business transactions quickly, efficiently,
and politely?
Does your company offer โextrasโ that
would make customersโ visits easier?
Can you adapt existing products to make
them more convenient for customers?
Does your company handle telephone calls
quickly and efficiently?
26
27. Concentration on Innovation
Innovation
The key to future success.
One of the greatest strengths of
entrepreneurs. It shows up in the new
products, techniques, and unusual
approaches they introduce.
Entrepreneurs often create new products
and services by focusing their efforts on
one area and by using their size and
flexibility to their advantage.
27
28. Dedication to Service
Goal: to achieve customer astonishment!
Listen to customers.
Define โsuperior service.โ
Set standards and measure
performance.
Examine your companyโs service
cycle.
Hire the right employees.
Train employees to deliver superior
service.
28
29. Dedication to Service
(continued)
Goal: to achieve customer astonishment!
Empower employees to offer superior
service.
Use technology to provide improved
service.
Reward superior service.
Get top managersโ support.
View customer service as an
investment, not an expense.
29
30. Emphasis on Speed
Use principles of time compression
management (TCM):
Speed new products to market.
Shorten customer response time in manufacturing
and delivery.
Reduce the administrative time required to fill an
order.
Study: Most businesses waste 85 to 99% of the
time required to produce products or services!
30
31. Emphasis on Speed
(continued)
Re-engineer the process rather than try
to do the same thing - only faster.
Create cross-functional teams of workers
and empower them to attack and solve
problems.
Set aggressive goals for production and
stick to the schedule.
31
32. Emphasis on Speed
(continued)
Rethink the supply chain.
Instill speed in the company culture.
Use technology to find shortcuts
wherever possible.
Put the Internet to work for you.
32
33. Benefits of Marketing on the
World Wide Web
Even the smallest companies can
market their products and services
around the globe.
SBA study: 67% of small businesses
that established Web sites said their
sites brought in new customers.
The Web can be the โGreat
Equalizerโ in a small companyโs
marketing program.
33
34. Benefits of Marketing on the
World Wide Web
(continued)
Only 24% of small companies with
Web sites actually generate revenues
from online sales.
Web customers are demographically
attractive: They are young,
educated, and wealthy.
Average household income = $52,300
39% have college degrees
34
36. Stages in the Product Life Cycle
Introductory stage
High
Costs
36
37. Stages in the Product Life Cycle
Introductory stage
Growth and acceptance stage
High High
Sales
Costs Costs
Climb
37
38. Stages in the Product Life Cycle
Introductory stage
Growth and acceptance stage
Maturity and competition stage
High Sales Profits
Costs Climb Peak
38
39. Stages in the Product Life Cycle
Introductory stage
Growth and acceptance stage
Maturity and competition stage
Market saturation stage
High
High Sales Profits Sales
Profits Sales
Costs
Costs Climb Peak Peak
Peak Peak
39
40. Stages in the Product Life Cycle
Introductory stage
Growth and acceptance stage
Maturity and competition stage
Market saturation stage
Product decline stage
Sales &
Sales &
High Sales Profits
Profits Sales
Profits
Profits
Costs Climb Peak
Peak Peak
Fall
Fall
40
42. Channels of Distribution
Industrial Goods
Manufacturer
Manufacturer Industrial User
Industrial User
Manufacturer
Manufacturer Wholesaler Industrial User
Wholesaler Industrial User
42