Marketing & Branding: An Introduction forEntrepreneurs Presented by:Edward S. Balian, Ph.D.

2006Edward S. Balian, Ph.D.10.30.06

(c)2006, E.S. Balian, Ph.D.

For your notes.(optional pull out)

(c)2006, E.S. Balian, Ph.D.

For your notes.(optional pull out)

(c)2006, E.S. Balian, Ph.D.

Dr. Ed Balian.Q-Stat started 1977 Owned numerous companies; corporationsStarted, maintained, bought & sold businessesSchool of Business professor since 1976Authored: textbooks and softwareConsulted with over 80 companies to date; large & smallFormer Dean of GIA School of BusinessOver 50 instructional seminars presented, including Harvard Business School

(c)2006, E.S. Balian, Ph.D.

I Welcome Three Groups that are Before Me Today:Those wanting (or praying?) to BECOME millionairesThose who ALREADY ARE millionaires, now wanting to become MULTI-millionaires

Those who already are multi-millionaires(Lets do LUNCH!)

(c)2006, E.S. Balian, Ph.D.

Keep It Simple, StupidYES---we all know this catchy and cute saying, but when it comes to todays complex business challenges, it is, UNFORTUNATELY, just not so simple anymore.

(c)2006, E.S. Balian, Ph.D.

Questions that DRIVE the Creation of Your Success: (1)WHAT are you driving?WHERE are you going? HOW and WHEN are you moving forward?How FAST will you go?When will you know to SLOW DOWN?Note that the size, style or cost of car,(i.e., your business) does NOT matter---You still need knowledge and controlof your MARKETING PLAN tomove it where you want to go.

(c)2006, E.S. Balian, Ph.D.

Questions that DRIVE the Creation of Your Success: (2)How will you measure your business EFFICIENCY?If inefficient, will you blow your cool?Will you be glancing back or moving forward? Both?Can you avoid panic-stops?

Note that the size, style or cost of car, (i.e., your business) does NOT matter---You still need knowledge and control of your MARKETING PLAN to move it where you want to go.

(c)2006, E.S. Balian, Ph.D.

How Powerful is Branding?What Images are Created in Your Mind?Lets do a quick survey to test the POWER of BRANDING.

Close your eyes---NO PEEKING until I give you the word.

(c)2006, E.S. Balian, Ph.D.

The BLUE BOX of(Courtesy: Tiffany)

(c)2006, E.S. Balian, Ph.D.

Its the real thing.(Slogan, Logo Font and Color)

(c)2006, E.S. Balian, Ph.D.

Tony the Tiger (1957)(Character Logo)(Courtesy: Kellogg)

(c)2006, E.S. Balian, Ph.D.

Note that Tony is not just ANY Tiger.BRANDING denotes: SPECIFIC!Any Child Will Tell You:This may be a tiger,but its NOT Tony!

(c)2006, E.S. Balian, Ph.D.

Yoga Journal (Lesser known, but in process of building a logo and brand)(Logo Font)

(c)2006, E.S. Balian, Ph.D.

Identity from 70 Years of Repetition: Texaco Calendar from 1933 & a Pin from 2003:19332003

(c)2006, E.S. Balian, Ph.D.

Who Started with Only THIS, then EXPANDED their PRODUCT Line into International Brand Name Recognition?

(c)2006, E.S. Balian, Ph.D.

The Five Critical Steps to get to BRANDING:Use Sound Business PracticesLearn & Understand Your Target Market, then:Refine the 4-Ps, thus leading to:Creation a Marketing Plan, leading to:Branding, over time.

(c)2006, E.S. Balian, Ph.D.

TARKET MARKETING:You MUST KNOW YOUR CUSTOMER BEFORE You Can Effectively BRANDCOSTLY ERRORS if you just guess, no matter how confident you are in being correct.Your current success is a poor measure---how much better still COULD it be?In todays new, highly competitive global environment, no one can afford to GUESS WRONG. The expense of doing research is a myth. The cost of not doing it could result in Chapter 7.

(c)2006, E.S. Balian, Ph.D.

The 4-Ps of Marketing.PrPrPlPrThis is NOT mumbo-jumbo, they lead directly to higher profits through greater efficiency of your business.

(c)2006, E.S. Balian, Ph.D.

P1: PRODUCTESSENTIAL: Is your Product or Service in demand by a particular (targeted) market? MARKET RESEARCH may help.NOT ESSENTIAL:Unique?Necessity or Discretionary?Alluring? Fun?Packaged Correctly?Has Potential to Expand into Larger Product Line (Variety & Assortment)?You DONT NEED all (or ANY) of these, necessarily!

(c)2006, E.S. Balian, Ph.D.

P2: PRICE (aka, The Goldilocks Syndrome)Is the PRICE reasonable vs. competitors? Tangible vs. Intangible value to customer vs. selling price.(TIFFANY SILVER HARMONICA vs. WAL-MART Earrings)Is low price (or customer PERCEPTION of low price) a selling point? (Wal-Mart)Is high price a selling point? (Tiffany)

MARKET RESEARCH to price it just right

(c)2006, E.S. Balian, Ph.D.

P3: PLACEMENT (aka, Distribution)How hard do customers need to look to find youincluding .com sites. (Travel the world? Tiring!)How badly do customers think they NEED to find you?What are your costs regarding placement: store location(s), internet, etc.?MARKET RESEARCH will help answer these questions.

(c)2006, E.S. Balian, Ph.D.

P4: PROMOTIONPromotion includes two basic actions:Advertising and/or,Publicity

Specific actions may include:Press ReleasesPrint AdsRadio, TV AdsCommunity SponsorshipWord of MouthOn Sale Clearance CampaignsTraining for In-Store Sales AssociatesAnd more.

(c)2006, E.S. Balian, Ph.D.

Positive Word of MouthNo direct cost!Personal testimonials between friends are powerful and crediblePyramiding

(c)2006, E.S. Balian, Ph.D.

Negative Word of MouthPyramidingDanger: Just one bad experience by ONE crying customer can be disproportionately harmful to your businessWhether the complaint is actually valid or not is irrelevant.

(c)2006, E.S. Balian, Ph.D.

The 4-Ps at Starbucks:Lets Discuss:PRODUCTPRICE PLACEMENTPROMOTION

(Courtesy: Starbucks)

(c)2006, E.S. Balian, Ph.D.

The 4-Ps of YOUR idea:Discussion---

ProductPricePlacementPromotion

(c)2006, E.S. Balian, Ph.D.

Until You Have A Marketing Plan.

(c)2006, E.S. Balian, Ph.D.

We MUST HAVE a MAP orMARKETING PLAN to Move Forward IntelligentlyWOULD YOU TAKE A MAJORROAD TRIP WITHOUT A MAP? THE MAP IS CALLED A MARKETING PLAN.

(c)2006, E.S. Balian, Ph.D.

The MARKETING PLANTakes into Account:WHO we are trying to reach (Target Market)HOW we want to reach themWHERE the product will be available WHAT the MESSAGE needs to be (ad copy, images)HOW MUCH $$$ is in our MARKETING BUDGET (per Pro Forma P&L, Cash Flow, Balance Sheet)SWOT AnalysisAND WHEN will the action happen, per a TIMELINE

(c)2006, E.S. Balian, Ph.D.

Marketing Plan Quick-Tips:Concentrate on a do-able population and scale.Be realistic in expectations.Do an accurate SWOT, not Pie in the SkyStay the course; use your map, do not unnecessarily change direction or make adjustments to name or logo without quality research behind it.The Marketing Plan we follow MUST be thought out and researched FIRST, not last.

(c)2006, E.S. Balian, Ph.D.

Back to Where We Started in Todays Presentation: Branding!The sum of your 4-Ps and your Marketing Plan will ultimately build your BRAND (either one way or the other!)Solid and positive BRANDING will ultimately provide huge added value to your name, your business and your products or services.

(c)2006, E.S. Balian, Ph.D.

In Review..we discussed:Your Choices in How to Operate a BusinessThe Power of Marketing Target Marketing through Market Research The 4-Ps of MarketingSWOT AnalysisYour Marketing Plan, Ultimately Leading to: Branding and its Long-Term Value

(c)2006, E.S. Balian, Ph.D.

How Might I Further Assist YOU?It was my pleasure to meet you today!Best of luck in all your futureendeavors!

Stay in touch!

(c)2006, E.S. Balian, Ph.D.

Contact Me.For a set of my presentation notes (in PowerPoint only):

Email:esbalian@gmail.com

(c)2006, E.S. Balian, Ph.D.

NOTES..

(c)2006, E.S. Balian, Ph.D.