Kristina Marsh Marketing Flexibility, LLC

A little About Me 16 years as a strategic marketer 14 years with a Fortune 500 Global Marketing Communications Global Marketing Process North America Market Leader 2.5 years as a strategic business consultant Marketing Flexibility, LLC

What Is Marketing? It’s much more than promotion! Product Price Place The right product or service offer is based on unmet, under-served or over-served market needs. Position Your positioning is based on your product or service offer and targeted consumer. Price The right price strategy is based on careful analysis of the market value chain.. Place Commonly known as distribution, your place strategy is determined based on market objectives, customer preferences, current relationships within your market value chain, and cost and value considerations. Promotion The best known component of the marketing mix, your promotional strategy follows all other components.

How Does It Get Done? Process People Once you have a solid market plan in place, it is essential to have the right internal processes to support it. People Simply put, a solid marketing and sales organization is critical to marketing and sales success.

Key Players Marketers Researchers Designers Writers IT / Coders Business strategists Researchers Information experts Designers Artists Writers IT / Coders Technology experts Agency Account Managers Translators

The Marketing Process Discover Research Analyze Strategize Execute Market opportunities Research Collect data Analyze Analyze data to create usable information Strategize Create the 7P go-to-market strategy and plan Product, Position, Price, Place, Promotion, Process, People Execute Align resources to execute the plan effectively Measure! Measure results to determine effectiveness

Discover Market opportunities are based on: Needs Wants Demands Underserved Markets Overserved Markets How can you disrupt the market?

Research Secondary research Primary research What do you already know? > What do you need to know? Secondary research Already exists – find it! Internet, libraries, business incubators, government, trade associations Primary research You need to do it Qualitative research Behavior and perceptions Brand awareness or loyalty Ethnographic research (observation), focus groups, interviews Quantitative research Specific and measurable Market size or demographics Surveys, systems data and statistics

Analyze Situational analysis 5 Cs Customer Company Competitors Needs, wants, demands Segmentation Company SWOT Portfolio Financial Competitors Collaborators Suppliers, vendors, partners, influencers Context (the world) Political Economic Technology

Strategize Product (or service) offer Position Price Place Promotion Process People

Product (or service) What is it? Manufacturing Intellectual Property Features (what) Benefits (why) Design Manufacturing Intellectual Property Patents, Trademarks, Copyrights Packaging Liability Insurance Claim Substantiation Lifecycle

Positioning Where are you positioned in the market against your competition? Kia Chevy Cadillac

Price Objectives Cost-Plus Value Pricing Floor and Ceiling Prices Break-even Profit ROI / Hurdle Rate Market Share Cash Flow Positioning Cost-Plus Value Pricing Floor and Ceiling Prices Price – Cost = Gross Margin *what about other costs? Rent Utilities Equipment Paper Clips Payroll Marketing Your Time!

Place Who are you trying to reach? How do they prefer to buy? Do you have enough reach on your own? What kind of channel support do you need? Warehousing Order processing Inventory management Packaging Shipping Customer support

Promotion Advertising Personal Selling Sales Promotions Publicity Direct mail, tradeshows, magazines, outdoor, email, TV, radio Personal Selling Effective, but expensive Sales Promotions POS, coupons, samples, rebates, cooperative advertising Publicity Articles, speaking engagements, blogs, sponsorships

Execute Process People Lead generation Lead management Sales Customer support People Supply chain Marketing

Measure! Objectives Process Specific and measurable Increase sales > Increase sales in North America by 10% Increase web traffic > Increase website conversions by 20% Process How will you measure those objectives? Google Analytics, call to action CTR, lead capture database, CRM sales process

Supporting Tools Market Plan Marketing Communications Plan Marketing Brief Project Plan

Market Plan Market Summary Situational Analysis Market Segmentation Market description, vision and mission Situational Analysis 5 Cs Market Segmentation Who are you targeting? Market Objectives 1, 3 and 5 year 5P Strategy Product, Position, Price, Place, Promotion Budget and Resource Requirements Action Plans Measurable and actionable Metric Plans How are you going to measure success?

Marketing Communications Plan Promotional Objectives Specific and measurable Strategy Tactical Plan Advertising Personal Selling Sales Promotions Publicity Media Budget

Marketing Brief Promotional Tactic Project Plan Objectives Tactical strategy Target audience Offer Key messages

Project Plan Mid-Large Scale Projects Scope Objectives Milestones Tasks Key Resources

Questions and Discussion