Session 19

Vince Ferraro

VincentFerraro.com

What is Marketing?

AMA Definition:Marketing is the activity, insight, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

What Does That Mean?Insights, strategies and tactics to understand what people and companies need and get them to buy it again and again!

How Does Marketing Work?

Marketing As a System

What is The Marketing Mix? (7Ps)

What Are Typical Marketing Goals?

Marketing is Not Sales

Big “M” vs. Little “m” Orientation

8 Key Marketing Concepts

• Product/Service Offering

• Segmentation

• Value Proposition

• Marketing Plan & Metrics

• Social Networks

• Marketing is Warfare

• Pricing

• Branding

What is a Product?

Product vs. Service

Creation of the Product Offer

Segmentation - Many Ways to Slice the Pie

Four Ways to Segment

Who Are You and Do I Know You?

Value Proposition

Value Wedge Components

Must Pass 3 Tests

• Unique to you

• Important to the customer

• Defensible

Find Your Unique Value Proposition

What Is a Marketing Plan?

Marketing As A System

Inbound vs. Outbound Marketing

Strategy vs. Tactics

Tactics Vary By Business Type

Across Value Chain

Aware Educate Engage Renew

Trade press/PR

Referral

Analyst sites

Complementary

site links

Advertising

Trade shows

Web

Message Boards

Webinars

Conferences

Social Media

Case Studies

Case studies

New Applications

Technology demos

Emails/ newsletters

RSS feeds

Promotions

New products

New partners

New applications

Referrals

Across Marketing Lifecycle

Balancing Strategic and Tactical Programs

Strategic

Brand Development Product Portfolio Management

Market Strategy and Planning

Market

Assessment

Competitive

Positioning

Priority Planning

Channel Strategy

Partnerships

Acquisitions

Brand

Development

Brand Architecture

Brand Imagery

Tag Lines

Associations

Eco-System

Voice of the

customer

Product Strategy

Service Strategy

New Product

Development

Product

Management

Different Levels of Marketing• A goal is a broad primary outcome.• A strategy is the approach you take to achieve a goal.• An objective is a measurable step you take to achieve a strategy.• A tactic is a tool you use in pursuing an objective associated with a strategy.

Example for Intel’s line of Core processors:

Goal: Make our Core PC microprocessors a category leader in sales revenue by year X.Strategy: Persuade buyers that our Core processors are the best on the market by associating with large, well-established PC manufacturers.Objective: Retain 70 percent or more of the active worldwide PC microprocessor market, according to Passmark’s CPU benchmark report.Tactic: Through creative that underlies our messaging, leverage hardware partner brand awareness to include key messages about the Intel Inside program.

Measurement TemplateOrganization Department Goal Owner (A) Email

Telephone

Objective Typically two or three paragraphs long. What is trying to be accomplished. References – to specific

marketing plan element

Comments – additional information about the objective including Call to Action.

_______________________________________________________________________________________________________________________

Specific Tasks Start Completion Status R/Y/G

Metric name for Balanced

Scorecard or Executive

Dashboard

Metric Description – description of the measure, include

its intent, data source, and organization responsible for

providing measure data. This will appear in the pop-up

window when you mouse over the measure in the

Balanced Scorecard.

Data Source: how to get data

Metric Target

Metric Result

R/Y/G Corrective Action

Minimum Value ROMI (if applicable

Scorecard Perspective Name

Date

Confidential and Proprietary- for disribution only by consent of author

Active Users for Top 5 Networks

Different Roles for Each Network

Differences Between Social Networks

Marketing is Like WarfareConcept Military Model Marketing Model

Target Competitors =Enemies Customers are Friends Enemies = Competition

Purpose Destroy TargetCapture Terrain

Appeal to TargetDestroy CompetitionCapture Market Share

Strategy Flanking, Confront, Surprise, Offensive,Defensive, Positioning

Flanking, Confront, Surprise, Offensive,Defensive, Positioning

Tools Supply/LogisticsLoyal SoldiersExploit Weaknesses of Enemy

Demand/Supply ChainLoyal FansExploit Weaknesses of Competition

Attitude War/ Hatred Peace/Love

Weapons Ships, troops, missiles, drones, bombs

The Marketing Mix (7Ps)

Guerilla vs. Gorilla

Example - Four Types of Marketing Warfare

What is Pricing?

Definition: What you think a product is worth to that customer at that time

• The amount you charge is based on several factors –uniqueness of product, available supply, demand, profit requirements, substitute products• Some pricing is negotiable while other pricing is fixed.• Pricing can be seasonal or time based (Christmas ornaments)• Pricing can be variable (Airlines)• Pricing can be temporary (rebates, incentives)• Pricing can be based to business model• Pricing can be tied to business cycles

4C’s of Pricing

What is the highest price I can charge and still make the sale?• Customers• Competitors

Am I willing to sell at that price?• Costs • Constraints

Pricing Goal – Maximize R & P

Pricing Strategies

Examples of Pricing

Branding vs. Marketing vs. PR vs. Ads

What is a Brand?

What Does a Brand Do?

A Brand is Not A Logo!

YOU Have a Brand – So Manage It!

Optimize the intersection

Your Goal – Build Your Brand!

Exercise 1 – Positioning Statement

Once You Have a Brand

You need a process (marketing) to raise your profile and showcase your talents to

a wider audience

Exercise 2 - Marketing Your Brand

List 5 things you are going to do to generate more awareness, preference & promotion for

your personal brand?

1. _______________________________

2. _______________________________

3. __________________________________

4. __________________________________

5. __________________________________

What To Do Now!

• Build your personal brand and marketing plan.• Leverage your military experience through stories -personal and

SAR stories. Write them down, collect data, etc.• Many employers are vet-friendly. Take unfair advantage of their

open door.• Be passionate about what you want• Realize your competition are also strong leaders and managers, so

differentiate yourself in a more meaningful way• Invest in a well-written resume & cover letter• Begin to build your social networking profiles (starting with

LinkedIn)• Get comfortable with and start networking – friends, associates,

events, etc.• Enjoy the journey!