Marketing involves creating, communicating, delivering, and exchanging offerings that have value for customers and society. The 4 P's of marketing are product, place, price, and promotion. A successful marketing strategy is customer-driven and based on information gathered through market research about the target market. Branding, advertising, and personal selling are important promotional tools used to build awareness, adoption, and loyalty among customers.

1. CHAPTER 8 DISCUSSION QUESTIONS
1) Define marketing.
2) What % of small business owners say that their companies do not need marketing because their products/services
sell themselves?
3) Define guerrilla marketing strategies.
4) What 4 objectives should a guerrilla marketing plan accomplish?
5) Define target market.
6) What do most marketing experts contend is the greatest marketing mistake most small businesses make?
7) To be customer-driven, an effective marketing strategy must be based on what?
8) What is the vehicle for gathering the information that serves as the foundation for the marketing plan?
9) Why can't small companies afford to make marketing mistakes?
10) What are the 4 steps to successful market research?
11) Define individualized (1-to-1) marketing.
12) State the 12 guerrilla marketing principles.
13) What is any commercial news covered by the media that boosts sales but for which a small company does not
pay?
14) What is a marketing concept designed to draw customers into a store by creating a kaleidoscope of sights,
smells, & activities to entertain?
15) What is a key customer benefit of a product/service that sets it apart from the competition?
16) More than half of Facebook users are over what age?
17) What is a frequently updated online personal journal that contains a writer's ideas on a multitude of topics?
18) Systematically creating the optimum experience for the customers every time they interact with the company
is known as what?
19) What is the philosophy of producing a high quality product/service & achieving quality in every aspect of the
business & its relationship with the customer?
20) What are the 4 P's of marketing?
21) As described in Figure 8.2, what are the 5 characteristics of a great product?

2. SHOULD A BRAND APPEAL TO EVERY TYPE OF
CONSUMER?

5. TO BE SUCCESSFUL, SHOULD A BRAND APPEAL TO EVERYBODY?
•85% OF BEER SOLD IN
AMERICA IS LIGHT LAGER.
•BEST SELLING BEER IS 60
•BUDWEISER IS A 5% ABV &
MINUTE IPA.
11 IBU LIGHT AMERICAN-
STYLE LAGER. •6% ABV & 60 IBU.
•IT IS MADE WITH UP TO 30% •$8.99/6 PACK BOTTLES.
RICE.
•$5.99/6 PACK CANS.

6. IT DEPENDS ON HOW YOU DEFINE “SUCCESS.”
-BUDWEISER, & MOST BIG BREWERIES, IS SUCCESSFUL IN SALES BUT THEY
ARE NOT SUCCESSFUL IN CREATING A QUALITY PRODUCT.
-DOGFISH HEAD, & MOST CRAFT BREWERIES, IS SUCCESSFUL IN CREATING A
QUALITY PRODUCT BUT COMPARED TO BUDWEISER NOT IN SALES.
-A SMALL BUSINESS SHOULD BE MORE CONCERNED WITH PROVIDING A
QUALITY PRODUCT/SERVICE & STAYING TRUE TO THAT PRODUCT/SERVICE.
-CREATE THE PERCEPTION THAT THERE IS NO OTHER COMPANY/PRODUCT
ON THE MARKET LIKE YOURS.

7. BRANDING
-THE EFFORTS INTENDED TO IDENTIFY THE GOODS & SERVICES OF ONE SELLER & TO
DIFFERENTIATE THEM FROM THOSE OF OTHER SELLERS.
-IT’S ABOUT GETTING PROSPECTIVE CONSUMERS TO SEE YOU AS THE ONLY ONE THAT
PROVIDES A SOLUTION TO THEIR PROBLEM.
-SIMILAR TO BRANDING ON THE RANCH.
-USED TO DIFFERENTIATE YOUR COMPANY (COW) FROM ALL OTHER COMPANIES (CATTLE).
-USED BY CORPORATIONS TO CREATE UNIQUE & ATTRACTIVE PERSONALITIES FOR
THEMSLEVES.
-CORPORATIONS’ BRAND IDENTITIES ARE PERSONIFICATIONS OF WHO THEY ARE & WHERE
THEY’VE COME FROM.
-IT IS ABOUT CREATING & EVOLVING CUSTOMER PERCEPTIONS OF THEMSELVES.
-ENABLES THEM TO CREATE INTELLECTUAL & EMOTIONAL BONDS WITH THE GROUPS THAT
THEY DEPEND ON:
-CUSTOMERSS & EMPLOYEES

8. BRAND DRIVERS
-SLOGANS, LOGOS, SYMBOLS, MACOTS, CELEBRITY
ENDORSEMENTS, ETC. TO REINFORCE “HUMAN
QUALITIES.”

9. EFFECTIVE BRANDING WILL:
-DELIVE A CLEAR MESSAGE.
-CONFIRM YOUR CREDIBILITY.
-CONNECT YOUR TARGET PROSPECTS EMOTIONALLY.
-MOTIVATE THE BUYER.

10. WHO IS CURRENTLY THE BEST-PERCEIVED BEER BRAND
AMONG U.S. ADULTS (21+) NATIONWIDE?

11. KEY INGREDIENTS TO CRAFT BEER SUCCESS

12. AN AUTHENTIC STORY
-CRAFT BEER BRANDS HAVE AN AUTHENTIC STORY AT THE
ROOT OF THEIR COMMUNICATION.
-MORE IMPORTANTLY, THEY LIVE IT.
-EMPLOYEES AREN’T JUST EMPLOYEES, THEY
REPRESENT THE BRAND.

14. TAKE ADVANTAGE OF YOUR HOME BASE
-SUCCESSFUL CRAFT BEER BRANDS FOCUS THEIR EFFORTS AROUND
THEIR BREWERY WHERE THEIR STORY IS MORE MEANINGFUL TO
CONSUMERS.
-IT’S EASIER TO ACTIVATE A BRAND’S STORY IN A HOME MARKET:
-IT’S REPEATED MORE OFTEN (BY BREWERY EMPLOYEES).
-IT IS REINFORCED BY BREWERY TOURS.
-CRAFT BREWERS ARE MORE PROFITABLE IF THEY SELL A HIGHER %
OF THEIR BEER IN THEIR HOME MARKET.
-EXPANSION IS NOT MADE UNTIL THERE IS SUFFICIENT CONSUMER
DEMAND IN ADJACENT MARKETS.

17. KEY INGREDIENTS TO CRAFT BEER SUCCESS

18. CREATE CONVERSATION OPPORTUNITIES
-CRAFT BEER BRANDS ARE BUILT ON CONVERSATIONS. ONE
CONSUMER AT A TIME.
-THE STORY & THE PASSION IN WHICH IT IS PRESENTED IS CRITICAL.
-CRAFT BEER CONSUMERS RESPOND TO BRANDS THAT HAVE A DEEP
PASSION FOR THEIR BUSINESS.
-CONSUMER INTERACTIONS ARE BEST WHEN THEY ARE WITH THE
BRAND’S “RELIGIOUS ZEALOT.”
-JIM KOCH: SAM ADAMS
-SAM CALIGIONE: DOGFISH HEAD
-CONVERSATION OPPORTUNITIES:
-BEER FESTIVALS
-ON-PREMISE PROMOTIONS
-OFF -PREMISE HAND-SELLS
-SOCIAL MEDIA

20. HAVE FEET ON THE STREET
-CRAFT BEER BRANDS NEED PEOPLE IN THE MARKET TO
BUILD DISTRIBUTION & INTERACT WITH CONSUMERS.
-REPRESENTATION IN THE MARKET ADDS TO BRAND
AUTHENTICITY.
-THE “FEET ON THE STREET” ARE THERE FOR SALES &
MARKETING EXECUTION.

22. EXPLOIT THE POWER OF INFLUENCERS
-THE ONLY CRAFT BEER BRAND THAT ADVERTISES NATIONALLY IS SAM
ADAMS.
-MOST CRAFT BEER BRANDS RELY ON SOCIAL MEDIA & WORD OF MOUTH
TO ADVERTISE THEIR BRAND.
-INFLUENCER CONSUMERS ARE VIEWED AMONGST FRIENDS & FAMILY AS
KNOWING THE TRENDS, WHAT’S NEW & EXCITING, & CREDIBLE.
-WAYS TO REACH INFLUENCERS:
-SAMPLING.
-PRODUCT/BRAND EXPERIENCES (TOURS, FOOD & BEER
PAIRING DINNERS, ETC.)
-MAKING THEM FEEL THEY HAVE A SAY IN THE BRAND (MUG
CLUBS)

24. ACTIVATE THE ICON
-CRAFT BRANDS MUST BE CREATIVE & BRING THE SPIRIT
OF THE BRAND TO LIFE.
-A GREAT WAY FOR CRAFT BEER BRANDS TO DO THIS IS
THROUGH BRANDED EVENT.

26. BRANDING SUMMARY
-TO SUCCEED IN BRANDING YOU MUST UNDERSTAND THE NEEDS & WANTS
OF YOUR CUSTOMERS & PROSPECTS.
-YOUR BRAND RESIDES IN THE HEART & MINDS OF YOUR CUSTOMERS &
PROSPECTS.
-IT IS THE SUM TOTAL OF THEIR EXPERIENCES & PERCEPTIONS (SOME YOU
CAN INFLUENCE, BUT SOME YOU CAN’T).
-A STRONG BRAND IS INVALUABLE AS THE COMPETITION FOR PROSPECTS
INTENSIFIES.
-BRANDING IS A FOUNDATIONAL PIECE IN YOUR MARKETING
COMMUNICATION.

27. WHAT IS MARKETING?

28. MARKETING
-THE ACTIVITY, SET OF INSTITUTIONS, & PROCESSES FOR CREATING,
COMMUNICATING, DELIVERING, & EXCHANGING OFFERINGS THAT
HAVE VALUE FOR CUSTOMERS, CLIENTS, PARTNERS, & SOCIETY AT
LARGE. (AMERICAN MARKETING ASSOCIATION)
-IT IS ABOUT FIGURING OUT WAYS TO DRUM UP SALES.
3 MAIN PURPOSES
1) BUILD AWARENESS.
2) BUILD ADOPTION.
3) BUILD LOYALTY.

29. BRAND LOYALTY
-A CUSTOMER’S COMMITMENT TO REPURCHASE A
COMPANY’S PRODUCT/SERVICE.
-ACQUIRING A NEW CUSTOMER COSTS 5X MORE THAN
KEEPING AN EXISTING CUSTOMER.
FACTORS INFLUENCING BRAND LOYALTY
1) PERCEIVED VALUE
2) BRAND TRUST
3) SATISFACTION

30. -ALL FOUR P’S MUST REINFORCE THE IMAGE OF THE
PRODUCT/SERVICE THE COMPANY REPRESENTS TO THE
POTENTIAL CUSTOMER.

31. PRODUCT
-ANY ITEM OR SERVICE THAT SATISFIES THE NEED OF A
CUSTOMER.

32. PLACE
-THE METHOD OF DISTRIBUTION OF A PRODUCT/SERVICE FROM THE
MANUFACTURER TO THE CONSUMER.
-4 COMMON CHANNELS OF DISTRIBUTION FOR CONSUMER GOODS
1) MANUFACTURER TO CONSUMER
2) MANUFACTURER TO RETAILER TO CONSUMER
3) MANUFACTURER TO WHOLESALER TO RETAILER TO CONSUMER*
4) MANUFACTURER TO WHOLESALER TO WHOLESALER TO
CONSUMER
*MOST COMMON CHANNEL OF DISTRIBUTION

33. PRICE
-KEY FACTOR IN CUSTOMER’S DECISION TO BUY.
-PRICE FOR A PRODUCT/SERVICE DEPENDS ON 3
FACTORS:
1) A COMPANY’S COST STRUCTURE
2) AN ASSESSMENT OF WHAT THE MARKET WILL BEAR
3) THE DESIRED IMAGE THE COMPANY WANTS TO CREATE
IN ITS CUSTOMERS’ MINDS

34. PROMOTION
-INVOLVES BOTH ADVERTISING & PERSONAL SELLING.
ADVERTISING:
-COMMUNICATES TO CUSTOMERS THE BENEFITS OF A
PRODUCT/SERVICE THROUGH SOME MASS MEDIUM (TV,
PRINT, RADIO, WEB).
PERSONAL SELLING:
-THE ART OF PERSUASIVE SALES ON A ONE-TO-ONE
BASIS.

35. MARKETING CONCEPT
-ACHIEVING ORGANIZATIONAL GOALS DEPENDS ON KNOWING THE NEEDS & WANTS OF OF TARGET MARKETS AND
DELIVERING THE DESIRED SATISFACTIONS.
TARGET MARKET
-A GROUP OF CUSTOMERS WITH SIMILAR NEEDS THAT FORMS THE FOCUS OF A COMPANY’S MARKETING EFFORTS.
-MARKETING EFFORTS MUST BE PRECISELY FOCUSED ON THE GROUP(S) OF EXISTING & PROSPECTIVE CUSTOMERS WHO
ARE MOST LIKELY TO BUY YOUR PRODUCTS/SERVICES.
-IF YOU ATTEMPT TO REACH EVERYONE, YOU WILL END UP REACHING NO ONE.
DEMOGRAPHICS
-THE STATISTICAL CHARACTERISTICS OF HUMAN POPULATIONS USED TO IDENTIFY MARKET
SEGMENTS.
-AGE -INCOME
-SEX -EDUCATION
-RACE -EMPLOYMENT
PSYCHOGRAPHICS
-VARIABLES CLASSIFYING POPULATION GROUPS ACCORDING TO PSYCHOLOGICAL VARIABLES.
-INTERESTS
-VALUES
-LIFESTYLE

37. MARKETING IS ALSO ABOUT THE ART OF PERSUASION

38. Yawning is a surprisingly powerful act. Just by reading the two yawns in
the previous two sentences--and the two additional yawns in this
sentence--a good number of you will probably yawn within the next few
minutes. Even as I'm writing this I've yawned twice. If you're reading this
in a public place, and you've just yawned, chances are that a good
proportion of everyone who saw you yawn is now yawning too, and a
good proportion of the people watching the people who watched you
yawn are now yawning as well, and on and on, in a ever-widening,
yawning circle.
Yawning is incredibly contagious. I made some of you reading this yawn
simply by writing the word "yawn". The people who yawned when they
saw you yawn, meanwhile, were infected by the sight of you yawning--
which is a second kind of contagion. They might even have yawned if
they only heard you yawn, because yawning is also aurally contagious: if
you play an audio-tape of a yawn to blind people, they'll yawn too. And
finally, if you yawned as you read this, did the thought cross your mind--
however unconsciously and fleetingly--that you might be tired? I suspect
that for some of you it did, which means that yawns can also be
emotionally contagious. Simply by writing the word, I can plant a feeling
in your mind.

39. -THE TRUE ESSENCE OF MARKETING IS PERSUASION.
-THE ABILITY TO PERSUADE THE CUSTOMER INTO:
1) PARTING WITH ONE OF THEIR MOST PRIZED
POSSESSIONS ($)
2) PURCHASING A PRODUCT/SERVICE THAT THEY MAY
NOT KNOW THEY WANT.
-MARKETING = SELLING & IF YOU CAN’T PERSUADE THEN
YOU CAN’T SELL.
2 KEYS TO PERSUASION
1) SHOES: WALK IN YOUR CUSTOMER’S SHOES
2) EYES: SEE THROUGH YOUR CUSTOMER’S EYES.

40. MARKETING CRAFT BEER
-CRAFT BEER BRANDS DON’T HAVE BIG ENOUGH
MARKETING BUDGETS TO BUILD AWARENSS, ADOPTION,
& LOYALTY THE TRADITIONAL WAY.
-CRAFT BRANDS HAVE TO BE REMARKABLE* SO THAT
CONSUMERS EXPERIMENT & RECOMMEND TO OTHERS
(WORD OF MOUTH).
*THE REMARKABLE NATURE NEEDS TO BE IN THE
PRODUCT ITSELF, NOT THE MARKETING.

41. CHARACTERISTICS OF A GREAT PRODUCT

42. 1) DEEP
-INCLUDES FEATURES & FUNCTIONS THAT MEET A RANGE OF
CUSTOMERS’ NEEDS

43. 2) INDULGENT
-MAKES CUSTOMERS FEEL SPECIAL WHEN THEY PURCHASE IT

44. 3) COMPLETE
-PROVIDES AN EXCELLENT TOTAL CUSTOMER EXPERIENCE, FROM
PACKAGING TO TECHNICAL SUPPORT

45. 4) ELEGANT
-IS INTUITIVE TO USE; WORKS THE WAY CUSTOMERS EXPECT IT TO

46. 5) EMOTIVE
-CONNECTS WITH CUSTOMERS IN SUCH A WAY THAT THEY ARE
COMPELLED TO TELL OTHERS ABOUT IT