how much does a butter chicken cost?
DESCRIPTION
Marketing basics presentation for Start-Up Saturday. Introducing the basics of marketing to an audience of mostly engineers. These slides were presented by me to a large group and are not meant to be stand-alone.TRANSCRIPT
How much does a butter chicken cost?
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Vivek SinghStudied at IIM Ahmedabad
Marketing & SalesFMCG , Steel, Real Estate & Edible Oils
Presentations Blogger
Working in Hyderabad
Marketing for Start Ups
Nov 14Saturday
What is Marketing?
What brings the customer to your store (website) is Marketing.
Marketing is Customer Pull
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Marketing is all about…
The Target Consumer
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Hi!My name is
Target Consumer
Every one is not a consumer.
When you segment, you can group them
and target the groups which are more lucrative $$$
Target
Target
Don’t Target
Psychographic Profile(Personality, Lifestyle,
Interest, Opinion)
Behavioral(Benefit sought, User status)
Demographics (Age, Sex, Income, Location,
Language, Education)
Market Segmentation
Write down who your target consumer is?
Task #1
How have you segmented your market?
Task #2
How do you target the consumer?
Develop a strong value proposition“Consumer pays XX and gets YY”
Steps in Targeting
Steps in Targeting
Make your value proposition different from competition (Unique Selling Proposition)
Develop a Reason to Believe (RTB).Why should a consumer believe your proposition?
Steps in Targeting
What is your Proposition,USP and RTB?
Task #3
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Elevator Pitch
What you do and Why are you better than others (USP)?
Put this on the back of your visiting card
Add this to your email signature
So consumers remember and pass it on (correctly)
Making an Elevator Pitch What is your product/service?
What does it do for the consumer? (benefits)
Who is behind the company?
What is your competitive advantage?
Source: http://en.wikipedia.org/wiki/Elevator_pitch
What is your Elevator Pitch?
Task #4
Equipped with your propositionyou target the market
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Where to target the consumer?
Media habits
Hang Out
Listens to
Likes/Dislikes
Follow your consumer
Social Media
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Use it if and only if your consumers are using social media
How many of you have a website and not a blog?
How many of you have not updated your blog in
the last 30 days?
Do you need a Social Media Strategy?
Task #5
“Half the money I spend on advertising is wasted, and the problem is I do not know which half.”- Lord Leverhulme, British founder of Unilever
Measure what you spend
A Start Up Case Study
How much does a butter chicken cost?
Rs.6,000 for 2
Who is their target consumer?
Target ConsumerUpper Middle Class
The RichConnoisseurs of Food
Living in MetrosConspicuous Consumption
Proposition:World’s finest butter chicken
Unique Selling Proposition
PriceHome Delivery
Order online (only)It is the only product they sell
Reason to Believe
Cooked by owner himself Cooked for 12 hrsExotic ingredientsTook 8 years to perfect the recipe
Social Media Strategy Website PR– Media coverage– Link back to reviews on blogs
Facebook Fan Page
City Tours Tangibilize the intangible
Bring in a personal touch
Meeting and taking feedback from consumers
To Summarize Segment the market
Target the most lucrative ones
Define your target consumer
Understand the consumer
To Summarize Develop value proposition, USP and RTB
Develop your elevator pitch
Develop a social media strategy (if needed)
Marketing ROI
Recommended Reading
BlogsSeth Godin (Internet marketing)Avinash Kaushik (Web Analytics)ProBlogger (Blogging)
BookStay Hungry Stay Foolish
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