Marketing

By Ben Youn
Copyright 2014 Quantum Business House
WELCOME to QUANTUM BUSINESS HOUSE

 2 hours for each session
 10 minutes tea time
 Bathroom & Kitchen
 Today’s Speaker
 Please network each other
 Future Plan
- Business Forum
- Networking Events
- Business Mentoring

1. Setting up business structure (June 04)
2. Buying a business (June 11)
3. Business Planning (June 18)
4. Marketing (June 25)
5. Raising Finance (July 02)
6. Financial Management (July 09)
7. Tax system and compliance issues (July 16)
8. Risk management (July 23)
9. Financial Health Check (July 30)
10. Business Evaluation (August 06)

 Manage
- For those customers current and potential
value are low.
- High costs but lower margins
- Manage costs or Remove

 Retain
- For those customers current value is high but
low potential value
- Retain and manage those customers not to
leave as they are profitable now.
- Beware over-investments (cost management)

 Grow
- For those customers current value is low but
their potential value is high
- Provides future opportunities
- Prioritise your investments to them
- Relationship Management – Loyalty strategy
- Beware your competitors, they are looking at
your customers

 Promote
- For those both current and potential values
are high.
- Goldmine customers
- Improve your services (Gold membership)
- Relationship management
- Beware your competitors

 Leverage the sales opportunity
- Increase current value in maximum level
- Promotions
- Relationship management
- Increase potential future values of the
customer
- Referrals

 Current competitors
- Gather and analyse information (Financial
information, market reputation etc.)
 Substitute
- Those providing products and services for the
same underlying needs (Laptop computer vs.
iPad)
- If their value proposition is more attractive,
your business loses market shares

 New Entrants
- Beware if you are in technology based
industry
- Build Barriers (Patents, capital etc)

 What is Value Proposition?
- Your business focus on value oriented
activities with which your customers are
willing to pay!!
 For ALL stakeholders involvement
 Identify where you can create value
 Allocate the value to each stakeholder
 Value Chain Management
 Value added, Non-value added but necessary
& Non-value added to scrap

 Step 1: Identify value (Value Map based on
Strategic Business Plan – See the sample)
- Where your business creates value
- Value chain analysis relevant to your industry
- Value to be measurable (e.g. KPIs including
customers service calls, number of new
customers; the time for delivery etc)
- Value to be relevant: Focus on key value drivers.
Business plan must reflect this.
- Value to be linked to a stakeholder: customers,
suppliers, shareholders and employees

 Step 2: Value allocation to stakeholders
- Self evident
- Identify key stakeholders
- Allocate the value identified to each
stakeholder and share the value.
- Voice of Customer (VOC): becoming a
customer oriented organisation (seeing
through your customers’ eyes)

 Very customer-focused method for product
and service design.
 Bringing the VOC into your business rather
than relying on internal discussion and
experts to their business decision about
products and services
 More efficient, effective planning and
reducing cost and time for development.

 Product and Service
1. Features – benefit analysis: the more benefits a
product provides the greater their perception of
‘value for money’.
- For your advertisement, you must isolate the
features that will encourage your customers to
buy your products and services
2. Type and level of customer service
- Consider the cost of providing services, what
your competitors offer and what the customers
expect.

 Product and Service
3. Product Strategy
- Needs of your target market should be the
key determinant
- Product line
- Product breadth
- Product depth
- Product mix

 Promotion and Advertising Plan
- Align with marketing objectives not only sales
revenue side but changing behaviours and
perception of your customers
- Encouraging the existing customers to buy
more
- Encouraging new customers to try your
products and services
- Raising awareness of the product and its
name

 Promotion and Advertising
- Build competitive advantage points e.g. free
installation, free training extended warranty,
unique product

 Place and Distribution
- How your products and services will be
offered for sale
- Direct sale vs. third party sales (retailers):
Decision of “make or buy”
- Supply Chain Management with Lean
Management Principles

 Price Strategy
- Break-even analysis
- Interrelation of a number of factors to get the
best combination of sales volume, price and
costs while being consistent with your overall
image
- Price your customers are willing to pay
depends on how they value your product and
services.
- In fact, your cost is irrelevant to the
customers

 CRM System (Xero Add-ons)
 Newsletters and email marketing (MailChimp)
 Use your tax invoice for marketing tool
(invoice design)
Copyright 2014 Quantum Business
House

 Marketing
 Raising Finance
 Financial Management
 Tax system and compliance issues
 Risk management
 Financial Health Check
 Business Evaluation
Copyright 2014 Quantum Business
House

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