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This is a broad overview of marketing basics. I think it is pretty comprehensive, except it is a few years old and does not touch on social media.
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Copyright 2005 Giannini O'Connor LLC
Mastering Marketing
Copyright 2005 Giannini O'Connor LLC
Eight Simple Rules
Rule #1: Know your Audience
Copyright 2005 Giannini O'Connor LLC
Copyright 2005 Giannini O'Connor LLC
Copyright 2005 Giannini O'Connor LLC
Understanding One’s Audience can lead to
uncovering:• Geography• Brand Preference• Media Exposure• Media Preference
Copyright 2005 Giannini O'Connor LLC
Use this information to convey what your client is buying, not
what you’re selling.• Youth, not surgery.• Safety and status,
not cars.• A brighter future, not
education.• “Wow, your house is
beautiful,” not furniture.
• “Your husband must really love you,” not jewelry.
Copyright 2005 Giannini O'Connor LLC
Use this information to match the media to the
message.• Trust common sense in recognizing what media is appropriate. (Philly Inquirer or Daily News?)
• Media exposure does not necessarily mean it’s effective.
• Media effectiveness can be age-specific.
• Different media can dictate a different approach for the same message. (Example: magazine versus billboard.)
Persistent Patience Pays
Rule #2: Marketing is a marathon, not a sprint.
Copyright 2005 Giannini O'Connor LLC
Rule #2 Rules of Thumb
• Selective exposure makes people more sensitive to messages about things they need or want.
• Micro-target & mix the media, you’ll look like you’re everywhere.
• People don’t need the product just because you’re selling it.
• It takes 7-10 exposures for the average person to truly absorb an advertising message.
It’s the relationship…
Rule #3: People value a relationship, but do not want to be sold to.
Copyright 2005 Giannini O'Connor LLC
You should be…• A trusted advisor.• A resource for
information.• A source of
comfort and understanding.
What about price?
Rule #4: Instead of price think total cost and total value.
Copyright 2005 Giannini O'Connor LLC
How it adds up.
• Even when money is no object for the initial purchase, customers will become unhappy if there are hidden or recurring costs that were not disclosed.
• Ease of purchase and use are part of the cost.• Be aware of the inverted law of supply and
demand.
Value starts with price but is earned with the intangibles.
– Exclusivity– Status– Getting the best.– What money can’t buy.– Security.
…the show that never ends.
Rule #5: Make it an experience, not just a product
or service.
Copyright 2005 Giannini O'Connor LLC
Create an experience and customers will…
• Will keep coming back.• Tell/bring their friends.• Be willing to pay a premium• Create a buzz.
Keep going to the well.
Rule #6: The best source of new business is existing
customers.
Copyright 2005 Giannini O'Connor LLC
Look in two directions
• Anyone who has purchased from you more than once is willing to refer you.
• People like to talk.• A referral is worth 1000 ads.
• Maintain consumable sales.• Sell across product offerings.
(Customers who bought X often buy Y.)
Yes, you’re the expert.
Rule #7: Use your expertise to position yourself as the
expert.
Copyright 2005 Giannini O'Connor LLC
Expert power
• People like to be associated with a known expert.
• If you teach them, they will buy. • Experts get articles published, get quoted in
the newspaper, and get asked to speak at events...which leads to awareness...which leads to sales.
Talk the talk, walk the walk, and keep walking.
Rule #8: After the sale, the product and its image must
continue to live up to expectations.
Copyright 2005 Giannini O'Connor LLC
Marketing Management Basics
Copyright 2005 Giannini O'Connor LLC
Start with the marketing plan
• Goals• Budget• Vision• Positioning• Competitive Analysis• Customer Analysis• Cash-flow projections
Copyright 2005 Giannini O'Connor LLC
Budget
• START with a budget, then do the rest of your plan.
• A low budget is OK.• No business can
succeed without a logical marketing budget.
Copyright 2005 Giannini O'Connor LLC
Vision• Without vision, nothing new ever
happens.• If you don’t know
where you’re going, you’ll never get there.
• Vision helps you focus.
Copyright 2005 Giannini O'Connor LLC
Media Review
Copyright 2005 Giannini O'Connor LLC
Print Advertising– ROP (run of paper) display ads– Classified– Inserts/coupons– Special Sections– FSI (free-standing inserts)– Wrapper advertising
Copyright 2005 Giannini O'Connor LLC
Electronic Advertising
• Radio (AM and/or FM)
• Television– VHF/UHF:
hundreds of channels
– Cable channels: a whole new world!
Copyright 2005 Giannini O'Connor LLC
Website Marketing
• Website (eCommerce)
• Banner ads• Opt-In marketing• Co-op• Multi-media
Copyright 2005 Giannini O'Connor LLC
Outdoor Advertising
• Billboards– Vinyl– Poster
• Transit Advertising• Shelter Advertising
Copyright 2005 Giannini O'Connor LLC
Direct Response
• Direct Mail• Co-op Advertising• Telemarketing• OPC (off-premise contact)• Referral programs/Giveaways
Copyright 2005 Giannini O'Connor LLC
Sales Promotion
• Coupons• Discounts• In-store promotion
(continuity programs)
Copyright 2005 Giannini O'Connor LLC
Event Marketing
• Grand Openings• Sponsored Events
(local race, etc.)
• Trade Shows• Conferences
Copyright 2005 Giannini O'Connor LLC
Marketing Collateral• Brochures• Promotional Items• Sales Material• Product data• Manuals• ‘Leave’ pieces• Always use ‘features and
benefits’!
Copyright 2005 Giannini O'Connor LLC
Press Relations
• Public Relations (press releases)• Marketing Public Relations
(creation of story/event)• Expert Activity
Copyright 2005 Giannini O'Connor LLC
Sales & Distribution
• Direct Sales• Rep./Distributor Sales• Location Sales• Telesales• Catalog Sales• Internet (online) Sales
Copyright 2005 Giannini O'Connor LLC
Sales Distribution
• Is there opportunity?
• Can I compete?• Can I win?• Is it worth it?
Courtesy Dave Cincera of Millrace Resources
Copyright 2005 Giannini O'Connor LLC
Q&A
Copyright 2005 Giannini O'Connor LLC