Marketing for a New Company EDUC 517 Tech Created by, Jenna Coleman & Kyle Hills.

Marketing for a New Company

EDUC 517 TechCreated by, Jenna Coleman & Kyle Hills

Define Your Company:

What is it?

What does it do/produce?

Define specifics: size, location, etc.

Use your marketing research in step 1 to further decide the details of your company.

Market Your New Company

Step 1: Market Research

Step 2: SWOT Analysis

Step 3: Customer Segment Research

Step 4: Design/Build your Brand

Step 5: Advertise your Brand

Step 6: Relay/Communicate your New Company

Marketing Research

Primary ResearchSurvey

focus group

observation, experimental

Secondary Research Online Databases

Step 1: Marketing ResearchExplain the primary research methods

your group would use if you were to actually conduct marketing research for your company & explain why.

Conduct secondary online marketing research for your Company.

Find what your clients, customers, or prospects would like about your company . What do they want or need from your product or service.

S.W.O.T. AnalysisStrengths

Weaknesses

Opportunities

Threats

Step 2: S.W.O.T. Analysis

Thoroughly evaluate your company based on your secondary research in step 1 to find their possible strengths, weakness, opportunities, threats

Example Site: www.hoovers.com

Customer Segment ResearchGeographic (ex. Local-be specific, national, global)

Demographic (ex. Age, gender, education, income)

Psychographic (personality, values, attitudes, interests)

Behavioral (what they “tend” to do)

Step 3: Customer Segment ResearchResearch possible customer segments

for your company/product.

Describe each segment by:Geographic, demographics, psychographics, and any behavioral characteristics.

Define which customer segment you will focus on as your target market

Step 3: Example Sites:

Geographic/Demographics:

www.melissadata.com/lookups/

www.freedemographics.com/

www.prb.org

www.fedstats.org

www.census.gov

Psychographics:http://www.claritas.com/MyBestSegments/Default.jsp?ID=0&SubID=&pageName=Home

Building a Brand:

Create a Brand Name and Slogan

Product/Company Appearance (e.g. packaging & labeling)

Design a logo

Create a website

Determine appropriate product/service mix

Step 4: Design/Build your Company BrandDesign a name and slogan for your

product/service

Create a Logo (may be drawn or created on computer)

Create a layout/computer sketch of what your website homepage will look like

AdvertisingNewspapers

Television

Direct Mail

Magazines

Outdoor (flyers, stands)

E-Mail

Internet (search engine optimization)

Blogs

Radio

Step 5: Advertise your Brand

Research different advertising options that have worked for your product/service category

Use this information to decide on which major media types you will use to advertise your product.

Create an estimated budget for advertisingMake sure to allocate resources appropriately to best reach your target market

Example Research Sites:Radio and TV Commercials: www.youtube.com

Print Ads: www.adage.com

Marketing Communication

s:Sales Promotions:Coupons, refunds/rebates, price packs, premiums, loyalty rewards, contests/sweepstakes

Professional Selling:Personal selling philosophy, define best product/service attributes

Public RelationsPress relations, product publicity, public affairs, lobbying, investor relations, development

Step 6: Relay/Communicate your

New CompanyPick 1 of the marketing Communications that you feel is most appropriate for your company/product

If you select sales promotion: design a coupon, rebate, loyalty rewards program, or a contest/sweepstakes to go along with your product.

Try Google image search for examples (coupons especially)

If you select personal selling: define a selling philosophy that your group would use to sell your service/product, along with strong selling points of your service/product.

For help to develop your selling philosophy: www.inddist.com/article/164409-What_s_your_sales_philosphy_.php

If you select Public Relations: create a press release about your new product/service to be distributed to the appropriate media (e.g. newspaper, internet through search engine optimization

For help in developing your press release: www.prurgent.com/press_release_help.htm

Project Reflection:

Individually visit this website & complete survey:

www.surveymonkey.com/s.aspx?sm=f73KxOCoOhi0GV4mGavRQg_3d_3d

Once you have completed this survey you have completed this project.