Marketing Management The marketing Process

MARKETING MANAGEMENTTHE MARKETING PROCESS

Ron PadavichDirector Strategic Marketing Services / University of Northern Iowa

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Proprietary to Strategic Marketing Services

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Marketing Management

What is Marketing Management?


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What Is Marketing Management?The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services that satisfy individual and organizational objectives. It is the entire organization and a product or service from conception to the end of its useful life!


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What is Marketing?

The process of creating customers for your product/service.


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How Do You Increase Market Size? Sell more to current customers Sell new products/services to current

customers Find new customers for current offerings Offer new products/services to new

customers


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Today’s Discussion1. Marketing Management at SMS2. Strategic Planning3. Market Research4. New Technology – Eye Tracking

MARKETING MANAGEMENT OF SMSTHE MARKETING PROCESS

Ron PadavichDirector Strategic Marketing Services / University of Northern Iowa

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Who We Are Self-supporting, Fee-based University

enterprise Started in 1990 Five professional market researchers


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What We Do Market Research Marketing Strategies Strategic Planning


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Who We Serve For Profit Businesses

Entrepreneurs Fortune 500 Companies Non-profit Organizations Government Agencies Economic Development Corporations


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Strategic Marketing Services

Over 300 clients in diverse markets

• Alliant Energy• Avery-Dennison• American Tool• Bausch & Lomb• Cargill• Century 21• CNS-BreatheRight®

• Wheaton Franciscan Healthcare

• Cummins/Onan• Ecolab• John Deere• Johnson & Johnson• Kimball

International• Lincoln Savings

Bank• Maytag Appliances• Mercury Marine

• Nissan Industrial• Riverside

Publishing• Siemens Industries• The Nature

Conservancy• Yellow Freight


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Our Team Director – Over 20 Years Senior Program Manager – Over 20 years Program Managers (3) – 2, 14 & 15

years Students


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Core Competencies Market Characterization, Segmentation

& Positioning New Product/Service Development Customer Satisfaction/Loyalty Competitive Intelligence Strategic Opportunity Assessments (Market

penetration, market development, product development, diversification)

Strategic Planning


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Methodologies Surveys (Phone, Online, Mail) Research Panels Facilitated Planning Sessions/Discussion

Groups Focus Groups (Online or In-person) In-depth Interviews Eye Tracking Technology


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Types of Projects Attitudinal Brand Awareness Voice of the Customer Concept Testing Product Configuration Competitive Intelligence Pricing Prototype Evaluations Go-To-Market Advertising/Communications Insight Generation, Ideation, Workshop Facilitation Technology Adoption Channel Evaluation Strategic Thinking

SMS MARKETINGHOW WE MANAGE THE PROCESS

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What Makes Us Different

Small Boutique Firm Motivated by quality over quantity Performance over profit Full client pipeline – Pick and Choose

Access to UNI Intellectual Capital Higher Response Rates – University Affiliation University Credibility Student Opportunities Access to Incentive Funds Qualify for Grants (Iowa Energy Center, Power Fund, etc.)


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Our Challenges Small – Fill up fast University Tie Perceptions

Free Student Program

Competition Name Brand Firms Global Players Low Price Providers

Client Personnel Changes Long Sales Cycle


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Pricing Strategies Clients Outside Iowa: Cost + Iowa Clients: Cost + Minus Incentive Iowa Grants: Cost Federal Grants: Cost and allowed

overhead


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Marketing/Sales StrategyPast: Out-Bound - Sales

Cold Phone Calls Sales Trips General Trade Shows Advertising-

Publications Referrals Trade Listings Internet Non-existent

Present: In-Bound - Marketing

Warm Phone Calls No Sales Trips Select Trade Shows No Advertising Referrals Trade Listings Internet Mktg. - HubSpot

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SMS MARKETING SALES STRATEGY


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Typical MR Sales Process Awareness- It exists Education – What can it do? Benefits Convince of the need Budget – Do they have one? Get them to agree to spend the money Keep them focused


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SMS Primary Target Market Large U.S. companies who do market

research on a regular basis, do so because they: Understand it Value it Know what to expect Know what it costs


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SMS Secondary Market Iowa Companies (Required)

Hard Sell No MR experience Don’t want to spend money Prefer trial and error Difficult to get them from awareness stage to

project Incentives have limited impact SMS spends lots of time for small return


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SMS Third Market Grants

Seldom desired Time investment to respond to RFP Competing against other non-profits Not profitable – pay low, expect a lot Long time-frame RFP does not reflect total expectations Reporting requirements Difficult to break even


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Things We Watch For Unsolicited RFPs/Inquiries

Price Shoppers Window Shoppers- DIY Keeping other supplier honest


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Qualifying the Prospect How did you find out about us? Why did you choose to call us? Have you done market research before?

How often, with who, and why not using them now?

Do you have a budget allocated for the project?

SMS SUMMARY

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SMS Mission StatementSMS is a boutique market research firm that employs a small staff of highly skilled, dedicated researchers who expertly serves the needs of a select group of forward looking clients. We value quality over quantity. For us, nothing is more invigorating than seeing our clients use the market intelligence we provide in successful ways.


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Our Approach What is the client trying to achieve? What information do they need? Who has the information? What is the best methodology to get the

information?

MARKETING

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MarketingThe primary purpose of a business is to sell a product or service!

All types and sizes of businesses share one thing in common – the need to secure ready, willing and able customers!


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Marketing Vs. Selling Marketing – Focuses on the buyer. What

needs do you have and how can I help you?

Selling – Focuses on the seller. I have a product you need to buy.


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My Experience Most companies are reactionary. They do not manage marketing well. They do not take action until sales

decline and cause significant pain. They prefer to do business as usual. They fail when they do not understand

the changing market, customer expectations, and the need to provide competitive value.


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What is Needed?1. Comprehensive Strategic Plan

Where are you going, how will you get there, when will you arrive?

2. Market ResearchWhy will people buy what you have to

sell?3. Marketing Strategy

How will you tell people about what you have to offer and convince them to buy?

STRATEGIC PLANNING

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What Is Strategic Planning? Strategic Planning Is A Systematic Way

to Manage Change and Create the Best Possible Future Optimizes potential

Takes all the pieces of the organization and puts them in one common direction.

Focuses resources to support desired results Identifies and commits the resources necessary

to succeed. People, money, equipment, etc.


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Strategic Planning Process Addresses the following:

Who you are What you do Who you serve Where you want to go When you want to arrive


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Strategic Vs. Tactical Strategic – Long-term, process oriented Tactical – Short-term, day-to-day


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Strategic Plan Considers:

Customers Competitors Investors Employees Internal & External Environments Regulations Operations Markets


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Strategic Plan - Vision Vision Statement

Long-term view A verbal picture of the future Should be realistic and achievable

“If you can imagine it you can achieve it”


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Sample - Vision Statements Anheuser-Busch

“ Be the world’s beer company” Avon

“Be the company that best understands and satisfies the product, service and self-fulfillment needs of women –globally”


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Mission Statement What you are about:

Corporate Commitment Employees Customers Vendors Community Environment Technology

How you run your business on a day-to-day basis


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Sample - Mission Statement Bristol-Myers Squibb

“To discover, develop, and deliver innovative medicines that help patients prevail over serious diseases.”


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1st Step - Where We Are Today Finances Profitability Customer Assessment Competition Technology Assessment Supplier Issues Employee Issues Production Issues Regulations Economy


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2nd Step- SWOT Analysis Strengths (Competitive advantage) Weaknesses Opportunities Threats


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Goals Define the day-to-day focus of the

business: Sales & Profitability Motivated employees Satisfied customers & suppliers Efficiency Quality Innovation Production

These are the things that make the business operate


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Objectives Support Goals

Specific Measurable Achievable Results oriented Time specific


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Action Plans Actions that achieve objectives and

ultimately goals Specific logical sequence of steps that will

be taken Assigned responsibility Date for completion Resources Allocated


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Results of Strategic Planning Strategic Alignment

Control destiny Forecast problems and solutions Better understand all aspects of your

business Make better decisions Align resources


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Strategic Plan Outline Vision Mission Goals Objectives Actions steps Responsibility Time frames Budget

MARKET RESEARCH

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What is Market Research?

Market Research is the process of collecting and analyzing information to answer specific questions.


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Business Success

MR is an essential ingredient in developing an effective marketing strategy and a thorough understanding of consumers’ needs and wants.


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Why Do MR? Understand the market/customer

Needs Motivation Willingness to pay Barriers Competition Identify opportunities Identify what is not working


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Two Types of MR Business – to – Business Business – to – Consumer


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Applying The 4 P’s Product/Service Related Issues

Desirability of Specific Features Purchase Decisions

Motivations How often

Competitive Comparisons Substitution Comparisons


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Applying The 4 P’s Pricing Related Issues

Acceptable price points Price sensitivity Competitive pricing


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Applying The 4 P’s Place (Distribution)

Best methods Competitor distribution methods New/alternative distribution methods Cost comparisons Supply chain


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Applying The 4 P’s Promotion

Logo Development Testing Effective Advertising Media Advertising Testing Competitor Advertising Packaging Considerations


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Why? Marketing Research helps you make

better informed and less risky decisions Marketing research helps execute your

strategic plan Marketing research helps drive decision-

making Marketing research helps to reduce risk Marketing research helps to develop a

competitive strategy and win customers


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MR Methodologies Quantitative

Research FAX Surveys Mail Surveys Mail Panels Telephone Surveys Personal

Interviews Web-based

Surveys

Qualitative Research In-Depth Interviews

Telephone Face-to-Face

Intercept Interviews

Focus Groups Observation Experimental

THANK YOU

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Marketing Management The marketing Process

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Transcript of Marketing Management The marketing Process