Marketing in a nutshell

From Technical Talk to Marketing Walk

Marketing

In a nutshell …


What is Marketing ?Marketing Activities

Competitive Analysis

Market Research

Agenda


What is Marketing ?


What is Marketing ?

"Next to doing the right thing the most important thing is to let people know you are doing the right thing."

John D. Rockefeller

Simply stated marketing is everything you do to place your product or service in the hands of potential

customers


Marketing Objectives

Regardless of product, the marketing objective is

to reach the targeted customer with the appropriate messages

that answer its needs


Marketing Position in an OrganizationBridging The Gap


Marketing Position in an Organization The Human Body Metaphor

The Heart is connected to all human organs It is responsible for supplying the body with

oxygenated blood through blood vessels

In a similar way the marketing is connected to the entire company pumping information and materials and feeding from marketing inputs Development – Product definition and monitoring Sales – Marketing communications, training,

assisting and getting feedbacks Management – Market & product strategic view


Marketing Types Offline (traditional) Marketing

Offline marketing refers to the strategies that are used to market a product or service offline such as Printed material, Ads, commercials and more

Word of mouth - one of the most powerful forms of advertising on the planet. The best word of mouth comes from satisfied customers

Online (Internet) Marketing Internet marketing refers to the strategies that are used to market a

product or service online such as, web site & search engine optimization, online promotions, direct emails, blogs and more…

Social Networks marketing refers to engaging with customers and gaining attention and traffic through the various social network platforms such as facebook, twitter etc.


Marketing Activities


Marketing Activities

Marketing activities are numerous and varied because they basically include everything needed to

get a product off the drawing board and into the hands of the customer


Marketing Activities In A Nut Shell

Knowing the market/customer Developing a marketing/product strategy Defining the product so it will be desirable to customers Creating marketing material Promoting the product so potential customers will know about it

Marketing can vary significantly based on

business' size, corporate culture, industry context

etc.


Marketing Activities Knowing the Market/Customer

Marketing is all about understanding your customers' needs and developing a plan that surrounds those needs


Marketing Activities Knowing the Market/Customer

What is the need answered by the product ?

What is the target market ? Size, growth, seasonality, profitability, threats, opportunities …

What are the environmental factors ? Political, economical, regulatory, social, timing

Who are the target customers ? Location, segments, preferences…

Who is the competition ? ….


Marketing Activities Developing a Marketing Strategy

Marketing strategy one of the biggest factors which determines the success or failure of your business Identifies the company marketing goals, and

explains how they will be achieved within a stated timeframe.

The result is a marketing plan A Written plan, which determines the choice

of target market segment, positioning, marketing mix, and allocation of resources

Combines product development, promotion, distribution and pricing approach


Marketing Activities Marketing Plan

Marketing plan should include at least the following topics: Market Segmentation – division of the market into consumer groups (based

on application, location …) Positioning - a clear, unique, and advantageous 'position' in the consumer's

mindValue proposition for the customer - The unique value that is offered to the

customers. It's why he will want to do business with youDifferentiation from competitors- Drawing attention to distinct, unique features,

aspects and qualities that distinguish one from competitors. Targeting – how do we target the particular segments

Placement - Distribution Channels to the targeted customers Promotion - Marketing communication plan: Trade shows, Web site, Public

Relations, brochures, advertising, White papers…Pricing – list price, discounts, bundling , special offers…


Marketing Activities Defining the product

Product definition is a critical starting point in the development of any new product Translating customer needs into a technical set of

product requirements that can be acted upon by EngineeringFunctionality - technical characteristics, performance

requirementsLife cycle costsLook & Feel – ergonomics, styling and aesthetics,

dimensions, packaging, ease of useOperating environment or conditions of useReliability and servicingRobustness ...


Marketing Activities Creating Marketing Collaterals

First step: Messaging Defining market, company & product messages to be implemented in all

marketing collateralDifferentiators & value proposition per every application/market segment

Setting a consistent and coherent basis for all marketing collateral

Next step: implementation – setting your footprint in the market Company profile, brochures & datasheets Marketing documents - Case studies, white papers, presentations… Web site Flash / Videos Posters & advertisement …


Marketing Activities Promoting the Product

Letting potential customers know about your product through Marketing Communications (MARCOM) Branding - The marketing practice of creating a name, symbol or

image that identifies and differentiates a product, service or a company PR - public relations – using the media (traditional and Internet based)

for press releases, articles, advertisements etc. Opinion leaders – consultants, analysts… Personal mailings Exhibitions Conferences Customer events, road shows …


Competitive Analysis


“If you are ignorant of both your enemy and yourself,then you are a fool and certain to be defeated in every

battle.

If you know yourself, but not your enemy,for every battle won, you will suffer a loss.

If you know your enemy and yourself, you will win every battle.”

Sun Tzu (the great Chinese military strategist) - Art of War - ~500 BC


Knowing the MarketCompetitive Analysis

An assessment of the strengths and weaknesses of current and potential competitors


Competitive Analysis Who are the competitors? Competitor strengths and weaknesses How do their prices compare to yours? How do you plan to compete ?


Competitive AnalysisWho are your competitors?

How are they doing overall? Financial status Market share

What are their competitive product ? What is their positioning ? What are their sales channels ?


Competitive AnalysisCompetitor strengths and weaknesses

What are the similarities and differences between the competitor products/services and yours?

What are the competitor’s strengths and weaknesses ?


Competitive AnalysisPricing

What is their price structure ? How do their prices compare to yours?


Competitive AnalysisHow do you plan to compete?

How are you uniquely suited to compete with them? Offer better quality services? Lower prices? More support? Easier access to services?

How do you take advantage over their weaknesses?

How do you tackle your weaknesses ?


Competitive Analysis Collecting Competitive Data

Website Press Releases Blogs Customer feedbacks Sales force ...


Market Analysis


Market Analysis is a thorough examination of your target market :

the one you intend to sell your products or services to


Market analysis Why ?

Businesses need information Information about customer requirements, market demand,

competition, distribution channels etc. This information needs to be updated regularly because

businesses operate in a dynamic environmentChanges in technologyChanges in consumer tastesChanges in the competitors productsChanges in economic conditions


Market AnalysisThe Goal

The goals of market analysis is to determine the attractiveness of the market

to understand its evolving opportunities & threats to realize the strengths & weaknesses of your business


Market Analysis#1 Tool for Business Decisions

Objective description of business and marketing environment is the most important tool for getting informed business decisions To determine if there is a market for your products or services To gain a more detailed understanding of consumers’ needs To forecast future trends To ascertain the best marketing and sales strategy for selling your

products or services

Investing in market analysis is worthwhile … Saves time and money Enables better competitive advantage Reduce the risk of product/business failure


Market Analysis What do I need to know ?

Mapping the Customer behavior and needs What defined market am I trying to reach? What is the need I am answering ? Is there a need for my product or service? What do customers expect from this type of product or service? What core competencies must the product or service have? How much will customers be willing to pay for this type of product

or service? …



Mapping and analyzing the target market entrance borders and risks What is the size of the market? Is it a growing market? Is the industry stable, volatile, growing or trendy? Is the market saturated or wide open? If so, why? Profitability Trends …



Mapping the Competition What specific companies are servicing this

market? What are the products ? What is their market share? What is my competitive advantage? How do my competitors reach the market? …

Mapping and analyzing the marking channels What is the most effectives way to get to the

market ? …


Market AnalysisSources

Market analysts Market research Statistical research Internet Interview target customers Trade shows …


Summary (1)

Marketing is all about Knowing your customer

Understanding your market Realizing your competition

and …


Summary (2)

…and making informed business decisions: Developing a coherent marketing/product strategy

Defining a customer oriented product Creating focused marketing material

Promoting the product
