1 How We Manage: Contemporary Marketing Jeffery T. Wack, Ph.D. www.jtwack.com
Dec 15, 2014
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How We Manage:Contemporary
Marketing
Jeffery T. Wack, Ph.D. www.jtwack.com
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Key Drivers of Market Demand
Demographics
+ Economics
+ Social Forces
+ Government Policy
+ Competition
External, Uncontrollable
Manageable+ The nature of the offering relative to alternatives
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Overview• What marketing is NOT
• What Marketing is
• Big Marketing concepts
• Organizing
• Items for the Head’s agenda
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Contemporary Marketing is a Core (not tangential) Competency
He doesn’t know
Marketing.
What I don’t know can’t be
important.
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Lay Barriers to Adoption of Marketing
• Not knowing what it is.
• Whatever it is, you don’t do it, and don’t want to do it.
• Thinking one knows what it
is, and being wrong.
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What Marketing Is Not
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www.wikipedia.com
The Lay Understanding of the Discipline of Marketing
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What Marketing IS
(Marketing with a capital ‘M’)
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Short Definitions1. What is Marketing?
The ONLY business discipline focused on attracting resources
2. Wack’s 5 Rs• Reputation
• Recruits
• Retention
• Relationships
• Revenues
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A Taste of Marketing Questions
Is the market growing?What are competitors doing?How can we stand out?Are program & pronouncements in line?How can we boost inquiries/yield?What is the impact of a common app?Can we package these disparate programs?
,
What factors predict choice?Offer merit scholarships?How can we better use parents/alumni?How can we attract teaching talent?How can the program be made stronger?Reorganize for new generation of parents?
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Is our tough
grading hurting u
s
with colleges?
What is the message
for an event?
Are families
pleased with the
College Counseling?
Should Development
have its own
communications office?
How can we broaden faculty
understanding of their
roles?
What characteristics of students
predict giving as alumni?
What programs are attractive to
alumni?
What is our image in the
community? Among feeder
schools? Consultants?
How is the website being used?
Do faculty know how to
write recommendations?
What are customers saying?
Everyone On the Same Page
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Cornerstone Marketing Principles
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Principle: Marketing Mix
The 4Ps (+1) of the Marketing Mix
Demand is affected by how the offer to the market is configured and delivered.
DEMAND
Product/Program
Promotion/ Communications
Price
PeoplePlace/Access/
Policies
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ANALYSISANALYSIS
EXECUTIONEXECUTION
PLANNINGPLANNING•Demographics•Statistics•Research
•Brochure•Web•Scripts
•Objectives•Choices•Design
Assess! The Market
Principle: Marketing is Strategic
Vs Fire! Fire! Fire!
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7 Foundation Concepts School Leaders Should Grasp
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Squares A and B are the same shade
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Principle: Ability to View
from the Customer Perspective
• Mission versusversus Market Driven?
• Inside-out versus Outside-in
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Consider: How do Prospective Buyers Learn the Price?
Recommended Read: Made to Stick, by Heath and Heath
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Colleges Prospects
Alumni
School
Principle:Customers and Segments
Other Segments
School
Current Families
Alumni
ProspectsColleges
Strong Relationships
= Stronger Networks
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Perceived Benefits Perceived CostsValue =
Principle: Perceived Value
The higher the perceived value, the higher the probability of purchase.
How does “affordability” limit our thinking about demand?
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Attracting
• Recruiting
• Soliciting
• Cultivating
• Referring
Delivering• Satisfaction
• RelationshipsRetaining
• Retention
• Loyalty
Principle:
Attention throughout the Customer Lifespan
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Draw a model of your organization
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FacilitiAlumni
Personnel/HR
Develop
men
tB
usin
ess
Off
ice
Facilities Faculty
Admissions
Principle: Marketing is in Everyone’s Job
Colleges
Student
Parents
College Counseling
Others
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1. Parent/board WOM2. School fairs3. Visit website4. Reply to inquiry5. Post inquiry
prompts6. Tour, interview7. Reply to application8. Accepts and Denies9. Second Visit day10. Post-accept
recruiting
1. Visits to school
2. Phone contacts
3. School profile
4. Student’s application
5. Recommendations
6. Student’s interviews
7. College fairs
8. Feedback re: alumni performance
Principle:
Intentionality at Touch Points
Inquiries/Applicants Colleges
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Tappers and Listeners
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What is the meaning to parents at--lower school level?--upper school level?
• “We are rigorous”
• “We are nurturing”
• “Freedom to take risks”
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Principle: The Curse of Knowledge vs Vision
Psychological Distance
Related Expertise
Renaissance Tendencies
Zero-Gravity Thinkers
From Innovation Killer, Rabe 2006
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Organizing for More Effective Marketing
Integrated Marketing, or Advancement Model
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Development: Annual fund
Parents Association: Fundraiser
Business Office: Tuition payment
Athletics: Team uniform
Communications: Bulletin subscription
Admissions: Volunteer time
Who’s asking parents for what, & when?
Consultation & Coordination Across the Vertically Silo-ed
Organizational Structure
“Managing the Horizontal”
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The 4th Dimension of Integrated Marketing
Prospect Alumnus
Development
Student Parent
Bridge Ownership Gaps
in the Customer-School Relationship
Grade-to- Grade
Within Grade
DeansAdmissions
“Managing the Longitudinal”
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META-VIEW OF MARKETING DECISION-MAKING
Authority
Resources
Ability toExecute
Expertise
DECISIONUNIT
INFORMATION
ACTIONS
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Case Example for Discussion
Head
Business Office Development Admissions Communications
Marketing
Parent Relations
Events
IT - Web
Writing & Editorial
Publications Production
Old Title: Director of Communications
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Head
Business Office Development Admissions Communications
Writing & Editorial
Publications Production
Events
Parents Relations
Web
Communication Coordination
New Title: Director of Strategic Marketing and Communications
Convenes monthly meeting of “advancement team” that includes:• D of Admissions
• D of Development
• D of College Counseling
• Faculty representation
Agenda and accountability built around “blueprint”