marketing and sales tips - the...
TRANSCRIPT
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MARKETING AND SALES TIPS for
Start-Ups and Product Launches
Norma A. Mendoza, Ph.D.
President
MerKadoTeknia Research and Consulting LLC
Hosted by
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OUTLINE
Defining Marketing Goals and Sales Objectives
Defining And Reaching Your Target Market
Mapping Strategy to Achieve Goals
Reaching Your Target Market
Evaluating Your Strategy – The Feedback Loop
Worksheet – Self Evaluation
Concluding Thoughts, Q&A
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DEFINING MARKETING GOALS
AND SALES OBJECTIVES
Customer orientation Determine target market’s needs and wants – satisfy needs
and wants more efficiently and effectively than the
competition
DOES YOUR PRODUCT SERVICE
SOLVE A PROBLEM?
(Be it perceived or real)
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DEFINING AND REACHING YOUR
TARGET MARKET
WHO ARE YOU TRYING TO SELL TO?
Who needs your solution?Map their consumer decision making process
• 1) PROBLEM/NEED RECOGNITION
• 2) SEARCH FOR INFORMATION
• 3) EVALUATION OF ALTERNATIVES
• 4) CHOICE
• 5) POST-CHOICE EVALUATION
THIS IS THE STARTING POINT
FOR YOUR STRATEGIC PLANNING
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MARKETING RESEARCH
Should guide 12-18 months of decisions• Consumer behavior patterns, demand – Primary data
• Competition
• Industry trends
• Legal developments
• Sourcing- stability of prices
5
Secondary data
IT NEEDS TO BE PART
OF YOUR OPERATING BUDGET
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MAPPING A STRATEGY TO
ACHIEVE GOALS
AWARENESS
PREFERENCE
TRIAL
REPEAT SALES
LOYALTY
• Each of the above requires a different strategic approach – MARKETING MIX
• Requires long-term planning
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MARKETING MIX
7
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BRANDING, POSITIONINGAND DIFFERENTIATION
Brand equity is the sum of consumers’ perceptions and feelings about:
• A products’ attributes and how they perform
• A brand name and what it stands for
• The company associated with the brand
Positioning desired perception of your product/service when seen against competitors
Differentiation Unique Selling Proposition consumers’ perception versus reality
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REACHING YOUR TARGET MARKET
• Traditional Media planningo Resource allocation based on objectives
o 12-month schedule minimum
• Marketing 2.0 - Social media and guerilla
marketing
o Low-cost but time consuming
o Planning and scheduling
o Content is KING – engage!
o Requires a clear brand image – single voice
• The role of a sales team
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EVALUATING YOUR STRATEGY –
THE FEEDBACK LOOP
The ROI of marketing efforts
• Evaluation should be based on initial objectives
Pre- and post analysis
Levels of analyses
o Short-term
o Long-term
o Product-specific, region specific, market
specific
Resource allocation based on outcome
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CUSTOMER FEEDBACK
• Customer satisfaction surveys
• Gap analysis of expectations versus experience
• Mystery shoppers
• Customer complaint analysis
• Analysis of customer defections
ONGOING PROCESS
o MONTHLY
o QUARTERLY
o YEARLY
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Worksheet
• Complete based on your own situation
• Start up
• Product launch
• Existing business
• What areas were you able to answer
confidently?
• What areas were you struggling with?
WHAT’S NEXT?
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Q & A
www.merkaconsulting.com
@Merkaconsulting