Strategic Marketing for Your Business

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Presentation transcript:

Strategic Marketing for Your Business Presented by Dr. Jan Mangos SCORE Orlando

Make (and Follow) a Plan

Strategy Vs. Tactics

Back to the Beginning…. What is Marketing?

Marketing is Concerned with: Product Price Place Promotion

Along with…. Identifying Target Market(s) Analyzing Competition

Let’s Start with Target Markets Sufficiently Large Reachable Willing and Able to Buy

Ways to Target Geographic Demographic Purchase Behavior Psychographics

Important Considerations RISK FOCUS

A New Definition…. Product = Benefit to the Buyer

A New Definition…. Price = Value to the Buyer

Developing New Products Trend Analysis -Top to Bottom Price Range -Truncation of Childhood (New Consumers) -Aging Population -Changing Face of U.S. Population -Mass Customization

Developing New Products Trend Analysis (cont’d) -Consumer Empowerment -Co-marketing Opportunities -Peer-to-peer Sharing (Social Media) -Omnivores (Food Markets) -Mobile Marketplaces

Developing New Products Trend Analysis (cont’d) -Re-commerce -High-touch products and services -Green Products -Increasing Power of Women -Fitness and Longevity

A New Definition…. Place = Channel of Distribution and its Informational Benefits to Your Business

A New Definition…. Promotion = Free or Low Cost Tactics to Gain Awareness

A New Definition…. Competition = Role Models or Bad Models “Thinking Outside the Box”

Simply Add… Tactics and a Timeline