Embed Size (px)
Citation preview
Business Plan Working Group: Marketing ISession 6
Summer 2017
© WESST, 2016 except where other copyrights noted
Session objectives
To provide an overview of marketing concepts, strategy and activities for small business, including customer persona development B
usi
nes
s P
lan
Wo
rkin
g G
rou
p 6
.In
tro
Image from Pixabay
The 5 P’s of Marketing: Product, Price, Place, Promotion and PositioningPRODUCT: What exactly are you selling? What are its features? How does it meet customer needs, or solve customer problems?PRICE: Is your product priced competitively? Is it affordable for the customers in your target market?(MARKET)PLACE: Where are you going to sell your product? Can you sell it online and from a physical location?PROMOTION: How are you going to tell people about your product?POSITIONING: What is your brand? How is your product DIFFERENT from other, similar products in the marketplace? How is it BETTER?
6.1 Introduction to Marketing
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.1
6.1 Introduction to Marketing
• The 5 P’s of Marketing Books: Product, Price, Place, Promotion and Positioning
• https://www.youtube.com/watch?v=BD0vZPVi0lU
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.1
6.1 Introduction to MarketingSuccessful businesses do not just deploy marketing tactics. Every tactic is deployed as part of an overall marketing strategy.
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.1
Image from Pixabay
A good marketing strategy is more than the sum of its parts. It creates an operating plan for all of your business’ marketing activities, and allows you to measure your activity against your results.
6.1 Introduction to Marketing
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.1
Image from Pixabay
Marketing vs. Promotion
Promotion is just one part of Marketing – the larger process of making people aware of your product.
Promotion is the announcement that links to the value proposition.
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.1
6.1 Introduction to Marketing
6.2 Creating Buyer Personas• A persona is just a way of defining your ideal
customer in a relatable, memorable way.• You can have multiple personas representing ideal
customers in different segments.• Once you develop good personas, you can then
ask yourself, in regards to marketing decisions, “would my persona see this/like this/respond to this? Is this a good use of my time and resources?”
• The more demographic and psychographic information you have about your market, the easier it will be to develop personas.
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
6.2 Creating Buyer Personas
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
Persona Name: Mary SmithAge: 52
Married, two grown childrenHuman resources manager for 200-employee company
Needs: Another pair of hands!; to not have to think about IT (she just needs it to work!); a solution that will work for the tech junkies AND technophobesWhat keeps her up at night: The chance that the Wi-Fi may not be working when she gets in tomorrowWhat motivates her to buy: The idea that she won’t have to worry about her IT if she hires the right service provider.
Image from Pixabay
6.2 Creating Buyer Personas
Jacqeline Adadi, student
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
6.2 Creating Buyer Personas
Jacqeline Adadi, student
Millennial Meg, cont’d.
GOALS: • Advance in the company • Achieve a work-life balance
CHALLENGES: • Lack of experience • Student loan debt
REAL QUOTES: • “I don’t have time to cook all the time, so it would be great to have healthy fast food.” • “I can’t live without my iPhone.” • “I love hanging out with my co- workers after work.”
COMMON OBJECTIONS: • Is this really healthy? • I need to be able to get my food fast enough during my lunch break.
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
6.2 Creating Buyer Personas
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
© Hubspot
6.2 Creating Buyer Personas
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
© Hubspot
6.2 Creating Buyer Personas
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
© Hubspot
6.2 Creating Buyer Personas
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
© Hubspot
6.2 Creating Buyer Personas
Tips for developing useful personas:• Make it detailed, but don’t get too bogged down
in the details.• Use your instincts, but also look at your research. • When you have your persona developed, ask
yourself hard questions:- Does this person really exist in the marketplace?- Are there enough of this person, or people similar to this person, to sell my product or service to? Can I really make a living selling to this persona?
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
6.2 Creating Buyer Personas
ACTIVITY• Create a group of 3-4 people• Read through the description of the product your
group is given• Take a few minutes to brainstorm• Create a preliminary customer persona for the
product or service
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
6.2 Creating Buyer Personas
6.3 Demand Creation Process
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.3
Demand Creation Process - driving awareness in your Buyer Persona and their interest TO your products and/or services.
• Aligns with your later established marketing goals• Describes the “buyers journey”• It gets any of the following people…
A business card you collected at an eventA commenter on FacebookA purchaser of a competitor’s productOne who filled out “contact us” or mailing list
…To click a button or call a number
Now you’ve established your target audience.
LATER, USE YOUR PERSONAS AS TOOLS:• Let them inform your advertising/marketing
campaigns – the tone, the imagery, the message• Develop collateral materials based on this
(stickers, magnets, etc.)• Guide your media promotional mix based on this
BUT FIRST…
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.4
6.4 Personas in Marketing
Homework for Marketing II
Building The Brand, Step One
JUST WRITE! – write a paragraph of at least five sentences (or a page, or two!) describing why you do what you do - or make what you make, or sell what you sell… Try not to overthink it, talk about your product /service starting with an anecdote or inspiration, for example – JUST WRITE! It can even be poems…
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.2
Questions on this unit?
6.4 Personas in Marketing
Bu
sin
ess
Pla
n W
ork
ing
Gro
up
6.4
6.3 Demand Creation Process
6.2 Creating Buyer Personas
6.1 Introduction to Marketing
