THE MARKETING BRIDGE

5 PRINCIPLES OF BUSINESS

Source: Harvard School of Business

•Advertising

A•Sales Staff

S

•In-store Merchandising

I

•Position Your Business

P

•Environment

E

THE MARKETING BRIDGE

Source: Harvard Business School

YOUR BUSINESS• Quality Products• Location• Reputation• Service• Delivery• Financing• Parking

• Business Vitality

MERCHANDISING• Cleanliness• Attractiveness• Display• Lighting

• Items Properly Marked

• Orderly• Timely

PRICE/VALUE• Is your price

right for value received?

• Is your price competitive?

PERSONAL SELLING• Product Knowledge• Suggest Selling• Product Benefits

• Sincere• Helpful Attitude• Cheerfulness• Smiling• Dress• Grooming

ADVERTISING• Proper

medium• Quantity• Consistency• Planning• Timeliness

CUSTOMER

YOU

MARKETING & COUNTERVAILING FORCES

UNAWARENESS

AWARENESS

COMPREHENSION

CONVICTION

ACTION

Countervailing

Forces

*Competition

*Memory Lapse

*Sales Resistance

*Transfer --Death

Marketing Forces

*Advertising

*Promotion

*Personal Selling

*Publicity –Price

*User recommenda-tions

*Product Display

WHY CUSTOMERS QUIT1%

3%

5%

9%

14%

68%

DIE

MOVE AWAY

OTHER FRIENDSHIPSCOMPETITIVE REASONSPRODUCT DISSATISFACTION

QUIT BECAUSE OF ATTITUDES OF INDIFFERENCE TOWARDS CUSTOMERS BY SOME EMPLOYEE•Most businesses can grow by keeping more of their current customers!

•“It’s more cost effective to keep a customer, than it is to get a new one.”

Source: U.S. News and World Report

MARKETING VS ADVERTISING

Marketing

• Changing or continuing BEHAVIOR

Advertising

• The controlled COMMUNICATION

KNOW THE DIFFERENCE!

DOES ADVERTISING WORK?

The POWER of the

MESSAGE

Regardless of your investment level, which one of the following messages will work better?

“Stop in and get a quote this week, and you’ll get a free pen!

“Get a quote this week…if you don’t save money, we’ll give you $100 cash”

-OR-

Who’s writing your ads? Advertising always works, just at different degrees.

It all depends on one thing!

ONLY 4 REASONS TO ADVERTISE ANYWHERE

Are there any of these you shouldn’t do today?

1

•Position your business

2

•Maintain your market share

3

•Increase your market share

4

•Increase your profits

AND ONLY 3 COMPONENTS TO YOUR ADVERTISING SUCCESS

ConsistencyQuality of Message Frequency

Source: Harvard Business School

3 TYPES OF BUYERS (CUSTOMERS)

• The now buyer, 2-10% of the marketplace

Those who need it, and know they need it.

• (Passive Prospect)

Those who need it, but don’t know they need it.

• (Future Potential)

Those who don’t need it now, but will need it.

Your advertising (Controlled Communication) always works, just at different degrees.

INCREASED AWARENESSTOMA

TopOf

MindAwareness

When you advertise your Unique Selling Position, with frequency/repetition and consistency, you will gain Top of Mind Awareness

If they don’t think of you, they won’t include you in their buying process

Your business needs to be in more customer’s TOP 3 rotation

MORE awareness means MORE customers!

WHAT SEPARATES YOU FROM YOUR COMPETITION?

No business has ever built a long term competitive advantage based on Product or Price ….Your competition can often meet

both

With Product & Price you only get Shoppers

Your business will build when you develop and grow a Customer BECAUSE Customers are built on Value and Trust

Look a close look at your business; What separates you from your competition?