Post on 22-Nov-2014
description
Connect with Mike
• HanberyMarketing.com
• LinkedIn.com/in/MikeHanbery• Facebook.com/Denver.SocialMarketing
• Twitter @MikeHanbery
The Social Network Compass
EbookFebruary, 2010
ByMike Hanbery, MBANavigate your course
through Internet Social Networks.
A Market Without Competitors
Mike Hanbery, M.B.A.
Traditional and Innovative Approaches to Marketing your Business
H A N B E R Y M A R K E T I N G
Marketing Plan Components
• Market Summary• SWOT Analysis*• Marketing Strategy• Financials• Controls
Market Summary Components
• Target Markets• Demographics,
Geographics, Behaviors• Market Needs• Market Trends
Other Critical Components• Financials
Break-Even AnalysisSales ForecastExpense Forecast
• ControlsImplementation (Milestones)Organization (Accountability)Contingency Planning
Traditional Marketing Strategies
Michael Porter
• Five Forces
Generic Strategies• Cost Leadership• Differentiation• Focus/Niche
PRICELOW
Cost LeaderHIGH
DifferentiationSCOPE
Broad
Narrow
Strategic Alliances
• Product/Service Alliances• Promotional Alliances• Logistics Alliances• Pricing Collaborations
Innovation Marketing Strategy
“New Growth Theory”“Red Ocean” Strategy “Blue Ocean” Strategy
Compete in existing market space
Beat the competition
Exploit existing demand
Make the value/cost trade-off
Align the whole system of a firm’s activities with its strategic choice of differentiation or low cost
Create unconstested market space
Make the competition irrelevant
Create and capture new demand
Break the value/cost trade-off
Align the whole system of a firm’s activities in pursuit of differentiation and low cost.
Blue Ocean Strategy
• 2005 Publication• Kim & Mauborgne (INSEAD)• Pursues systematic
innovation as marketing strategy
Premium Wines
B.O.S. Tools• Strategy Canvas + Value Curve• Example: US Wine Industry, Late 1990’s
High
Low
Price Use of enological
terminology
Above-the-line marketing Aging
quality
Vineyard prestige and legacy Wine
complexity
Wine range
PRINCIPAL FACTORS
OFF
ERIN
G L
EVEL
Budget Wines
B.O.S. Tools
• Four Actions Framework
A New Value Curve
Reduce
Eliminate Create
Raise
Which factors should be reduced
well below industry
standards?
Which factors should be created that the industry
has never offered?
Which factors should be raised well above
the industry’s standard?
Which of the factors that the
industry takes for granted should be
eliminated?
B.O.S. Tools
• Eliminate/Reduce/Raise/Create GridEliminate
Enological terminology and distinctions
Aging qualities
Above-the-line marketing
RaisePrice versus budget
wines
Retail Store involvement
ReduceWine complexity
Wine range
Vineyard prestige
CreateEasy drinking
Ease of selection
Fun and adventure
B.O.S. Tools• Strategy Canvas + Value Curve:
[ yellow tail ]High
Low
Price Use of enological
terminology
Above-the-line marketing Aging
quality
Vineyard prestige and legacy Wine
complexity
Wine range
PRINCIPAL FACTORS
OFF
ERIN
G L
EVEL
Easy Drinking
Ease of Selection Fun &
Adventure
Premium Wines
[ yellow tail ]Budget Wines
B.O.S. Tools• Strategy Canvas + Value Curve:
[ yellow tail ]High
Low
Price Use of enological
terminology
Above-the-line marketing Aging
quality
Vineyard prestige and legacy Wine
complexity
Wine range
PRINCIPAL FACTORS
OFF
ERIN
G L
EVEL
Easy Drinking
Ease of Selection Fun &
Adventure
Premium Wines
[ yellow tail ]Budget Wines
ReferencesGrant, R. M. (2008). Contemporary Strategy Analysis
(6e). Carlton, Victoria, Austrailia: Blackwell Publishing.
Kim, W.C. & Mauborgne, R. (2005). Blue Ocean Strategy. Boston, MA: Harvard Business School Publishing Corp.
Kotler, P. & Keller, K.L. (2006). Marketing Management (12e). Upper Saddle River, NJ: Pearson Prentice Hall.
The Social Network Compass
EbookFebruary, 2010
ByMike Hanbery, MBANavigate your course
through Internet Social Networks.
Connect with Mike
• HanberyMarketing.com
• LinkedIn.com/in/MikeHanbery• Facebook.com/Denver.SocialMarketing
• Twitter @MikeHanbery