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5-5-11
Copyright ©The McGraw-Hill Companies, Inc. Permission required for reproduction or display
5-5-22
Foundations for
Creating Value
Part Two
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-33
Part Two
Foundations for Creating Value
• Chapter 5
• Market Opportunities
• Chapter 6
• Marketing Strategy
• Chapter 7
• Weaving Marketing into the Fabric of the Firm
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-44
Chapter 5
Market Opportunities:
Current and Potential Customers
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-55
Finding Business to Business Opportunities
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
NEW MARKET OPPORTUNITIES
ACQUIRENEW
CUSTOMERS
DEVELOPA RESEARCH
PROGRAM
FIND OPPORTUNITIES WITH EXISTING
CUSTOMERS
DEVELOP MARKETS AMONG CURRENT
CUSTOMERS
5-5-66McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
DEVELOP MARKETSAMONG CURRENT CUSTOMERS
FOUR STEP PROCESS
1. RANK YOUR BEST CUSTOMERS
2. MAXIMIZE REVENUES THROUGH
COLLABORATION EFFORTS
3. DEVELOP SPECIFIC PRODUCTS FOR EACH
CUSTOMER
4. LEARN OF SPECIAL NEEDS FROM YOUR
CUSTOMER’S CUSTOMERS
5-5-77McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
FIND OPPORTUNITIES WITHEXISTING CUSTOMERS
1. ESTABLISH A FORMAL FEEDBACK PROGRAM
WITH CUSTOMER CONTACT POINTS (SALES,
SUPPORT)
2. DEVELOP DATABASES
3. COMPILE DECILE REPORTS
4. DEVELOP CUSTOMER RESEARCH ASSISTANCE PROGRAM
FOUR STEP APPROACH
5-5-88
RESEARCHING CUSTOMERS
FIND OUT YOUR CUSTOMER’S NEEDS THROUGH:
1. FOCUS GROUPS – best for generating ideas and
gaining customer insights
2. SURVEYS – asking questions by personal interview,
mail, telephone, internet
3. JOINT DEVELOPMENT AND TESTING – use to
adjust and adapt products after purchase
4. CUSTOMER VISITS – use on-site meetings for problem
identificationMcGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-99
ACQUIRE NEW CUSTOMERS
1. Calculate your current customer’s lifetime value (CLV) to serve as yardstick for planning
2. Find customers in a new segment who “look like” your existing customers
3. Expand into new geographic territory
4. Transfer/modify existing products for other industries
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-1010
17.3
$4,686$5,119$5,627 LTV/100 customers$ 649$ 769$ 919Acq+4$ 881$1,002$1,144Acq+3$1,222$1.331$1,455Acq+2$1,933$2.017$2,109Acq+1
NPV @ 20%NPV @ 10%NPV @ 10Discounting profits
Profit forecasts
Acq+1 [60 buyers ($90)]×.8 gr. profit–[100 accts×$20 service/acct] =Acq+2 [36 buyers ($90)+16 buyers ($60)] .8 gr. profit- [60 accts×$20+40 accts×$10] =Acq+3 [31.2 buyers($90)+9.6 buyers($60)+4.8 buyers($50)] .8 gr. profit- [52 accts×$20+24×$10+$24×$4] =Acq+4 [27.4 buyers ($90)+8.3 buyers ($60)+2.9 buyers ($50)+1.9 buyers ($50)]-
ScheduTrax Lifetime Value Analysis
8.3 9.616.0Customers 2.9 4.815.0
11.519.2$ 2$500.103
12.514.424.0$ 4$500.202
18.220.824.040.0$10$600.401
40.5
1.945.6
27.431.236.060.0100$20$900.600
4th Yr. after
acquisition
3rd Yr.after
acquisition
2nd Yr.after
acquisition
1st Yr.after
acquisitionAcquisition
PeriodAccount
Service CostsExpected $ Purchases
Purchase Probability
Yrs. since the Last Purchase
[45.6×$20+20.8×$10+14.4×$4+19.2×$2] =
Expected customer migrations following acquisition
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
Exhibit 5-4
5-5-1111
DEVELOPING OPPORTUNITIES THROUGH MARKETING RESEARCH
PURPOSE OF RESEARCH1
CUTOMER MANAGEMENT
2
ACQUIRE NEW CUTOMERS
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
ACHIEVED BY
1. CUSTOMER RESEARCH – through focus groups and surveys
2. INTERACTING WITH CUSTOMERS – through joint product development and product testing
3. DEVELOPING ON-SITE VISITATION PROGRAMS
5-5-1212
FINDING SEGMENTS
1. USE NAICS CODES TO ASSESS INDUSTRIES’ SIZE AND NEEDS
2. EVALUATE COMPANY CHARACTERISTICS SUCH AS SALES, NUMBER OF EMPLOYEES
3. DETERMINE A COMPANY’S BUYING PROCESSES AND HOW THEY BUY
4. MATCH PRODUCT OFFERINGS TO COMPANIES SEEKING WHAT PRODUCT DOES BEST
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-1313
Helpful / informative
BRAND D
BRAND C
BRAND A
BRAND B
Order processefficiency & accuracy
Reasonable price
After-sale service Rapid delivery
Technicalperformance
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
Exhibit 5-10
PERCEPTUAL MAP
5-5-1414
SEGMENTATION ANDOPPORTUNITY ANALYSIS
IDENTIFY SEGMENTS THROUGH INDUSTRY CLASSIFICATION (SIC / NAICS)
CHOOSE YOUR INDUSTRY TARGETS
CHOOSE YOUR SPECIFIC COMPANY TARGETS BY:
1. HOW THEY BUY2. THE BENEFITS THEY SEEK3. MEMBERSHIPS IN PROFESSIONAL / TRADE
ORGANIZATIONSMcGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-1515
CRITERIA FOR SUCCESSFUL SEGMENTATION
• SEGMENT MUST BE IDENTIFIABLE-enumerated and evaluated
+• SEGMENT MUST BE ACCESSIBLE-
can be reached by marketing activity
+• SEGMENT MUST BE SUBSTANTIAL-
enough to justify efforts
McGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.
5-5-1616
ESTIMATING SEGMENT SIZE
ANALYTICAL TOOLSFOR SEGMENT EVALUATION:
1. USE OF SCENARIOS - Articulate events and
futures
2. BUILDUP APPROACH/FACTORING –
Estimate product use in its applications
3. STATISTICAL SERIES – Use correlation
between demand and economic activitiesMcGraw-Hill/Irwin Business Marketing, 4/e Copyright © 2009 The McGraw-Hill Companies, Inc. All rights reserved.