webinar 2: how to market your product or service
DESCRIPTION
The slides from our 2nd webinar presented by the team at Lonsdale Saatchi and Saatchi.TRANSCRIPT
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How to Market Your Product or Service
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What is Marke6ng?
Marke'ng is primarily about managing customer rela'onships.
It is the process of
building profitable customer rela'onships by crea'ng value for customers and capturing value in return.
It is the science of fulfilling needs and wants.
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Types of Marke6ng?
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Where to Begin
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Difference Between Marke6ng & Adver6sing
• Adver'sing and marke'ng are not the same.
• Adver'sing is a marke'ng tool and is part of the Marke'ng Mix
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What Need is Your Product Going to Sa6sfy?
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Market Research is Cri6cal at this Point
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Talk & Listen to Your Target
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“It’s not just what you say but what THEY say that counts.”
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Know your target market
• What is the size of the market? • Who are the players? • How old are they? • Males/females? • Where do they live? • What do they see and read? • What are their priori'es in life? • What are their desires, hopes,
dreams? • Where do they go for leisure? • Where do they shop? • What do they buy? • What can they afford? • Can they afford what I have to offer? • Do they need /want what I have? • What makes them TICK?
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Basic Laws – Know Your P’s & Q’s
Product
Price Placement Promo'on
These will guide you on where to go with your plan.
Now ask yourself some important Q’s…
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Product
Ask yourself the following Q’s :-‐
• What is your product?
• What does it do? Does it solve a need?
• What does it promise to give my customers?
• How will my customers benefit from having my product/ service in their life?
Sample Answers
A new type of shoe insole.
It has a special gel and a great shape for allowing me to stand longer or walk longer.
Comfort and pain free standing/ dancing.
People can enjoy themselves
longer.
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Price
The Q’s
• How much can I charge for this product?
• What are others charging for similar products?
• What can I offer my customers that gives them more value for their money or a beOer incen've to buy my product (or buy it again)?
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Placement
• Where can people buy my product?
• Is it accessible to my target customers?
• How do I make my product available when my customers will want it the most?
• How do I make my product stand out on the shelf?
• Should I put my product next to another type of product that will help mine sell?
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Promo6on
The Q’s
• How can I let people know about my product?
• What can I do to encourage them to buy again?
• How do I make them loyal to my product/ brand?
• How do make my product/brand stand out from the others?
• What are the best ways for me to reach consumers of my target market?
• How do I get my target market’s aOen'on?
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You have just completed the Marke'ng Mix
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STP’s
S -‐ Segmen'ng
T -‐ Targe'ng
P -‐ Posi'oning
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The 5th P: Posi6oning
It is how a consumer sees or feels about your product/brand.
It is everything about Feelings – Emo'ons – Connec'ons.
It is about finding out what makes you different.
What space do I occupy in a consumer’s mind?
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What Dis'nguishes You from Your Compe''on?
Make sure it is the truth – consumers are unforgiving about being fooled.
This is your Differen'ator!
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The Brand Discussion
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Defini'on A brand is an en6ty ( a person, company, product name, country/ place) with a set of
values or a[ributes that make it unique from any other. IT IS A PROMISE. It is the total of all impressions, associa6ons, feelings and percep6ons about a “thing”.
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Lovemarks As a Saatchi & Saatchi Agency we believe in developing a brand to the point
of becoming more than a brand but a LOVEMARK. In 6me your brand can become a LOVEMARK too with the right tools.
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A Brand It can be represented by a logo, symbol, a trademark, a mission statement, a building, music or a special colour.
Your Brand Essence should be represented in everything your brand does. It should possess a personality that is consistent.
… Once your Brand Essence is defined it keeps you grounded and from straying in different direc'ons.
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Define your Brand
• What is your brand?
• What are my brand aXributes?
• What is the personality of my brand?
• What does my brand represent now?
• What do I want my brand to be in 5 years/10 years/20 years from now?
• What will make my brand a true LOVEMARK?
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Adver6sing Choices How and What to Say
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Adopt The Right Thinking: Adver=sing is an Investment
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Your Budget & Target Will Guide You
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AXer Marke'ng & Adver'sing
• Be prepared to Evolve and Alter your strategy, product, service and offerings in order to remain relevant to customers and stay ahead of the game.
• Success aOracts interest and poten'al compe'tors will take note of your success. Stay nimble.
• Never Rest. Always Innovate.
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The Sum of it All! • Know your target-‐ Know them well. Refresh that knowledge as oXen as you can.
• Learn your Ps and ask the right Qs to develop your Marke'ng Strategy.
• Understand your brand and where you want it go. • Adopt the thinking that adver'sing is an investment not just an expense.
• Listen and learn from your target. They will always guide you on where to put your $$$.
• Research! Research! Research!
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Thank you for aOending. From all of us at
8 & 10 Herbert Street, St Clair P.O Box 1251, Port of Spain, Trinidad & Tobago Tel: (868) 622-6480/1/2 Fax: (868) 628-0210
www.lonsdalesaatchi.com www.theaesthetic868.com www.sagett.com www.iugodigital.com