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Marketing. Kurt Foriska The Ohio State University
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What is Marketing?
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Who’s in Charge of Marketing?
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http://www.youtube.com/watc h?v=XQ7HpF-fniA
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Marketing Analysis (The 5C’s) Customers CompanyCompetitors Collaborators Context Market Segmentation Target Market Selection Product and Service Positioning Creating Value Capturing Value Sustaining Value Product & Service Place/ChannelsPromotion Marketing Mix (The 4 P’s) Pricing Customer Acquisition Customer Retention Profits Adapted from Neeli Bendapudi, The Ohio State University Who you are Who they are Matching who they are with who you are
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Marketing Takeaways: 1. Mission Focused 2. Market Differentiation 3. Segmentation 4. Delivery 5. Tell Your Story Marketing Takeaways 1 : 1. Mission Focused 2. Market Differentiation 3. Segmentation 4. Delivery 5. Tell Your Story 1 Fundraising 1 Fundraising
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Mission Focused Defines who we are AND (more importantly) who we are not
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Mission Focused “We are the low cost airline”
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Mission Focused “The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.”
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Mission Focused Long-attention span: Start with Why by Simon Sinek Made to Stick by Chip and Dan Heath Short-attention span: ted.com | search for “Simon Sinek: How great leaders inspire action”
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Market Differentiation
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Commodities Manufactured Goods Services Experiences Price
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Market Differentiation Short Attention Span: ted.com | search: “Joseph Pine: What consumers want”
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Segmentation http://www.youtube.com/watch?v=D3qltEtl7H 8
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Segmentation Market segmentation is determining what differentiates your various users/customers and delivering different products, services, and programs to meet their needs
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Segmentation
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Segmentation
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Segmentation People are really good at talking about their problems and not as good at coming up with solutions to those problems.
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Segmentation It’s not about you, it’s about the customer
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Service Marketing Differs from product marketing in 4 ways (4 I’s): 1. Intangible: Often cannot be touched; experiential 2. Inseparable: Production cannot often be separated from consumption; “customer is in the factory” 3. Inconsistent: The service is delivered by people, which introduces variability 4. Inventory: You cannot save services for the future
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What the Customer Sees What the Customer Does Not See
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Delivery GAP 1: Difference between what customers expect and what the organization thinks they expect Overcome by building relationships with customers – Assessment is key! Communicating about what is happening on the front lines
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Delivery GAP 2: Difference between the organization’s understanding of expectations and set service standards Folly of Rewarding A While Hoping for B Set service standards that are clear, but allow flexibility to provide good service – Building pride in the brand- People rise/fall to expectations – Build a sense of community- Provide a context of the org – Hire qualities that are tough to teach THE CUSTOMER DOESN’T CARE
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Delivery GAP 3: Difference between the set services standards and service delivery People, in general, want to do the right thing. Employees fail to deliver on standards when they don’t have: – The A bility – R ole Clarity – M otivation THE CUSTOMER DOESN’T CARE
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Delivery GAP 4: Difference between the service delivery and what is communicated to customers Over-Promising/Under-Delivering Lack of Communication THE CUSTOMER DOESN’T CARE
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Delivery GAP 5: Difference between customer’s expectations and the customer’s perception of service delivered The challenges in the previous gaps manifest themselves in GAP 5 By closing the previous gaps, the organization can increase it’s service to customers
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Delivery: New Media Email Twitter Facebook YouTube A Special Note Web 1.0 (content provider) vs. Web 2.0 (content receiver)
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Delivery: E-mail Average Open Rate = 20% – Of that 20%-40%, Click through/action is 25%-40% Best time to send – Tuesday/Wednesday/Thursday; Mid-morning Mail Merge = the more personalized a message, the more likely it is to be read Speak in the language of your audience Be concise Have an actionable item
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Delivery: Twitter 70+ million users Can “#” your tweet - aka hash tag – categorizes your tweet; other users can search for your tag “@” directs your comment to another user or acts as a reply to another user
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Delivery: Twitter Uses: Tweet often, tweet interesting and re-tweet Respond to trends on campus (what’s the buzz?) Learn the language of your segments Use tweets as easy research (#sloopy’sfail) Use tweets as a call to action – Tweet Offers
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Delivery: Facebook Operate the page like a personal account: – Post pictures; tag individuals; change profile picture often – Post on your walls to lead to discussion – Be “real” with wall posts – speak the language of your target audience – Use Facebook as a call to action It take a lot of time; a lot of effort
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Delivery: YouTube Generate content Hold contests to generate content Leverage potential response and host locally (e.g. embed YouTube videos on your webpage)
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http://www.youtube.com/watch?v=d4tomu70 H4Y
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Delivery: YouTube High Tech – HD Camera [$3,400] – Sound Equipment – Final Cut Pro [$1,000] Low Tech – SD Camera [$275] – Final Cut Express [$200] – iMovie [included on most macs]
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Branding
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Branding
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Branding
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Marketing Takeaways: 1. Mission Focused 2. Market Differentiation 3. Segmentation 4. Delivery 5. Tell Your Story Marketing Takeaways 1 : 1. Mission Focused 2. Market Differentiation 3. Segmentation 4. Delivery 5. Tell Your Story 1 Fundraising 1 Fundraising
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Kurt Foriska foriska.1@osu.edu 614-247-5878
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Fundraising Takeaways: 1. Mission Focused 2. Market Differentiation 3. Segmentation 4. Delivery 5. Tell Your Story Fundraising Takeaways: 1. Mission Focused 2. Market Differentiation 3. Segmentation 4. Delivery 5. Tell Your Story
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