Training and Development Team What is Marketing? Debra Kurtz Kurtz Consulting Inc

Training and Development Team Definition Marketing: by local experts Marketing's goal is to find the perfect marriage between customers' deep needs and the what the company can deliver (called: value proposition)... And then put together the right set of programs to move customer behavior (messages, channels, incentives, etc.)... So that both the customer and the company are better off.

Training and Development Team Definition Marketing: by local experts Marketing is the SCIENCE of understanding your customer, your competition, and your company. It is the ART of combining this understanding with vision and persuasion to create opportunities and solutions that satisfy the emotional needs of your customer and the revenue needs of your company. A bit academic, don’t you think?

Training and Development Team So I asked a kid… Marketing is: "Getting people to buy s#&t they don't need."

Training and Development Team Debra’s Definition of Marketing Figuring out what people want, getting it to them, and telling them about it.

Training and Development Team Sometimes Called “The 4 P’s of Marketing” Product = Figuring out what products/services to offer Price = Figure out how to price the product or service Place = How/where to sell to customers Promotion = Tell customers about it

Training and Development Team What’s the difference between Sales & Marketing? Selling is the ability to motivate the customer to want what you have… Marketing is the ability to have what the customer wants… Taken together they fulfill the promise of providing superior customer satisfaction.”

Case Study: Getting the Right P roduct Business Opportunity: Summit is the dominant player in the x-ray industry. The product line was mature, requiring a new plan for Summit’s future growth. Solution: Kurtz Consulting helped Summit develop the business case to pursue new digital technology which jumpstarted sales. Results: Summit Industries launched several new digital products within 12 months and increased sales by over 20% that year. “Debra Kurtz helped our company set a new strategic direction. At the same time, she helped our company finance this initiative through additional sales of our existing products. She is a strategic thinker who knows how to produce results.” Joe Flies, President Summit Industries Inc

Case Study: Setting P ricing Business Opportunity: Baby products company had new product which was superior to competitors. Solution: Kurtz helped company establish premium pricing, based not on competitor’s prices, but on the price of an alternative consumer choice. Results: Company sales grew over 20%. Product achieved over 50% market share.

Case Study: Setting P ricing Don’t think you have to price like your competitors. If you have a really good product, you can charge more. Consider what customers would have to pay if they don’t use your product—that’s the real upper limit to pricing. Product Achieved 50% Market share

Case Study: P lacing your products – where/how to sell them Business Opportunity: Medical products company had 80% market share selling to hospitals. But patients also needed the products at home. Solution: Developed new sales channels for company including Retail and Direct to Consumer Results: Generated 25% of sales increase to company and 50% market share within the retail channel

Training and Development Team Review of Marketing Product = Figuring out what products/services to offer Price = Figure out how to price the product or service Place = How/where to sell to customers Promotion = Tell customers about it Coming next

Training and Development Team Debra Kurtz Kurtz Consulting Inc