Going to Market 404 - University of Michigan · § Marketing is going to market with an offering...

GoingtoMarket404October13,2015

OfficeofMarke9ng&Communica9ons 1

GOING TO MARKET 404:

▪  How We Got Here: A review of key marketing principles –  John Trierweiler

▪  Launching and Learning: Launching of a new program (the Master of Management)

–  Emily Deedler

▪  Hashtags, Selfies, and Victors: Marketing and (future) Gen Z Wolverines

–  Betsy Brown

https://vpcomm.umich.edu/communicators-forum/specialty-sub-groups/communicators-forum-marketing/

Agenda


MARKETING COMMITTEE

STRATEGY 101

POSITIONING 202

BIG DATA 303

Session 1

Session 2

Session 3

Session 4

GOING TO MARKET 404

Positioning Strategy Big Data To Market


Session 1: STRATEGY 101

Marketing defined § Marketing is going to market with an offering utilizing the 4 (or

7) Ps to maximize value*

The Marketing Mix § The 4 Ps** (7 Ps for Service categories)

1.  Product 2.  Price 3.  Place 4.  Promotion ------------------ 5.  People 6.  Processes 7.  Physical Environment

*John Branch **Jerome McCarthy


The 7 Ps*


*Bernard Booms, Mary J. Bitner

Session 1: STRATEGY 101

Strategic Marketing: (1) a system of management

§ 3 C’s #1*: -  Customers -  Competitors -  Company

In response to risks from:

§ 3 C’s #2: -  Competition -  Complexity -  Change

Strategic Marketing: (2) a process of management

§ A disciplined and iterative approach:

Research Analysis Planning Implementation Control

*Kenichi Ohmae


Session 2: POSITIONING 202

Segmentation

§ Breaking a heterogeneous market down into smaller homogeneous markets*

§  Identification, creation, and prioritization of segments** -  Substantial, accessible, unique, durable, identifiable

*Philip Kotler **John Branch



Targeting

§ The strategic choice of which segments to serve Step 1. Evaluate segment attractiveness

Step 2. Evaluate segment-organization compatibility

Step 3. Select targeting strategy: -  Undifferentiated (mass) marketing -  Differentiated (segmented) marketing -  Concentrated (niche) marketing -  Micromarketing (local or individual marketing)



Positioning

§ The value proposition by which we desire our target segments to perceive us

§ The positioning process -  Identify value drivers -  Map target segment perceptions -  Select positioning strategy -  Select grand position

§ Choosing your flag 1.  Have a flag 2.  Make it a relevant flag 3.  Choose an important flag 4.  Do not steal a competitor’s flag 5.  Match your core competence

“For (target segment), (brand name) is the (frame of reference) which delivers (benefit/point of difference) because only (brand name) is (reason to believe)”


11

marketing research

positioning

segmentation

targeting

STP

place

price

promotion

product

4 Ps

competition

consumer

company

3 Cs

Putting It All Together*

*Christie Nordhielm

OfficeofMarke9ng&Communica9ons

evaluate

Bumble Bee Tuna Case Study*

*John Trierweiler


University of Michigan Case Study*

*Matt Schlientz


Session 3: BIG DATA 303*

Big Data, Better Science and Engineering

§ Be customer-centric: celebrate customer heterogeneity -  Distinguish the profitable customers from the less profitable ones -  How much are they worth? Use metrics such as customer lifetime value -  More is not better; use the right data

§ More is not better: use the right data -  Big Analytics more than Big Data -  Do customer-base analyses -  Use varying types of data

§ Always be testing: form hypotheses and experiment -  Ask important questions -  Form hypotheses -  Set up measurement instruments -  Analyze -  Lather, rinse, repeat


*Eric Schwartz

Session 3: BIG DATA 303


CaseStudy:MasterofManagementProgramLaunchingandLearningOctober2015


EmilyDeedler,BrandManagerUndergraduatePrograms,MasterofManagement,MasterofAccoun:ng,andDoctoralPrograms

About Me: The Great Lakes Tour


“Itwasadarkandstormynight…”TheNewMasterofManagementprogramwasapproved!



Our Charge: Generate Demand

19

GeHngStarted:Evalua:ngtheIndustrySecondary research confirmed we were entering a market still in the “introductory” phase: From the Graduate Management Admissions Council, 2013 Application Trends Survey ▪ Small market ▪ Growing ▪ Low awareness in the U.S ▪ Many substitutes exist


Evalua:ngtheCompe::on:Frenemies!


Only a handful of Master of Management programs existed in the elite business school space.

21

Compe::vePosi:oning:


Duke (Fuqua) “We combine your passion with purpose”

Virginia (McIntire): “We transform your talents into tangible assets”

Notre Dame (Mendoza): “The graduate business degree for non-business majors”

Northwestern (Kellogg): “Designed to complement and build on your liberal arts education”

22

Schoolscollec:velyfocusedongrowingthecategory


▪  Similar positioning ▪  Minimal product differentiation ▪  Strong focus on careers

23

PlanningOurGotoMarketStrategy:

§  Segmenting §  Targeting §  Positioning §  Implementation §  Control


Segmen:ng:AudienceDevelopmentGoal: Finding an audience that was IDENTIFIABLE and ACCESSIBLE


ChoosingaTarget:Challenge: Sizing the Market


University of Michigan Candidates

Off-Campus Candidates

Non-Career Switchers: “The MM can help me

do well in my field”

Career Switchers: “The MM can help me

pivot to business”

26

Year#1Posi:oning:WhereweLanded


Positioning Statement: For non-business

undergraduates looking to transition to a career in

business, The Ross Master of Management Program

provides you the grounding and skills you need to

succeed in any organization.

Headline:

Pivot Your Career to Business

27

Implementa:on!


Email outreach Direct mail Paid advertising Campus information sessions Regional events Webinars Campus signage PR/social media activities Program website

28

WhatHappened?41 students enrolled GPA: 3.54

GRE: 155

GMAT: 678


Analyzed data as technical aide in Johns Hopkins Applied Physics Lab

Been published by the Journal of Mechanical Engineering Design

Built a school in Masai Mara, Kenya

Cataloged 12,000 drawers of fossils in the National Museum of Natural History

Conducted research projects funded by the National Science Foundation and NASA

Designed and assembled wind resistance testing apparatus for US Navy funded research project

Developed proposal approved by Northrop and

Boeing to resolve mission safety concerns

Facilitated Habitat for Humanity’s transition from crowdsourcing funds to micro-financing

Increased boxing capacity for Chico's by 20% by engineering a predictive model of inventory

Interned in economics for U.S. State Department in U.S. Embassy in Rome

Learned how to train elephants

Reviewed proposals submitted to DreamWorks

Wrote and self-published mystery novel

29

Control:MethodologyforLearningMorePlanning for Year #2 Conducted primary research ahead of year #2 planning ▪  FocusgroupswithLS&A,Engineering,andincomingMMstudents

▪  Surveyofstudentswhodeclinedourofferofadmission

▪  Undergraduatestudentresearchproject


Evalua:ngValueDrivers:RefiningthePosi:oning


RefinedPosi:oning:

Positioning Statement: For non-business undergraduates looking to gain a foundation in business, the Ross Master of Management program provides an action-based curriculum, best-in-class resources, and a dynamic career search program designed to help you land your

ideal job.

Headline:

Power Your Potential


Evalua:ngTac:cs: Successes and Opportunities



WhatHappened-Chapter2▪ Class size was up 20% ▪ Academic credentials were

unchanged or better ▪ 93% of year #1 students

had a job offer within 3 months of graduation

Job Placement: Digitas

EJ Gallo Google

FTI Consulting Huron Consulting

LaSalle Real Estate Pepsico

Target Textron TJMaxx

Toys R Us ...and more

34


Thankyou.

(Nowontoyear#3…)

35

Going to Market 404 - University of Michigan · § Marketing is going to market with an offering...

Documents

Transcript of Going to Market 404 - University of Michigan · § Marketing is going to market with an offering...