Marketing Basics

Marketing

1. Marketing Basics




Everyday Development L.L.C

2. Module One: Getting
Started
Thanks to the rise of technology
and social media, the world of
marketing and advertising has
become bigger than ever.
Marketing has gone beyond the
classic printed ads, billboards or
even television commercials.
Business has
only two
functions –
marketing and
innovation.
Milan Kundera

3. Workshop Objectives
Define your
market
Communicating
with the
customer
Marketing goals
Recognize
marketing
mistakes

4. Module Two: What is
Marketing?
Sometimes marketing is
confused with the simple act of
selling or increasing sales. But,
marketing is the channel
companies take to grab the
customers’ attention and bring
them to make a purchase.
The aim of
marketing is to
know and
understand the
customer so
well the product
or service fits
him and sells
itself.
Peter F.
Drucker

5. What is a Market?
Conduct
business
Identifying
customers
Shared
interest
Potential
customers

6. Marketing is Not Selling
Grabbing attention
Connect with customers
Anticipate needs
Leave an impression

7. Understanding Customer Needs
Customer want?
Customer need?
Benefit them?
Buy from you?

8. Defining Your Product or Service
Know all aspects of the product or
service.
What does it offer the consumer?
Define its qualities and benefits.
Determine who your target audience
would be.

9. Case Study
When James opened up his restaurant, he
was sure that people would love it.
He sold hamburgers, and he reasoned that everyone
loves hamburgers.
He was surprised when business was slower than he
expected.
His market was made up of health conscious
individuals who avoided hamburgers and fried food.

10. Module Three: Common
Marketing Types (I)
As consumers, we know that there are
many ways companies market their
ideas and products, including television
ads, newspaper flyers, websites, or
coupons. Sometimes it can be confusing
to determine which methods of
marketing will work for your product,
but if you familiarize yourself with the
different ways of marketing available,
you can make the best decision.
There is no such
thing as soft sell
and hard sell.
There is only
smart sell and
stupid sell.
Charles
Browder

11. Direct Marketing
Phone
Billboard
Interactive
web site
Catalog
distributions

12. Active Marketing
Cold calls
Online forum
In person networking
Responding in blogs

13. Incoming Marketing
SEO
Company web
site
Blogs
Social media

14. Outgoing Marketing
Television commercials
Magazine ads
Telemarketing calls
Internet ads

15. Case Study
Pat chose to use only outgoing marketing
when opening a new flower shop
The ads were expensive, and Pat did not see the ROI
expected
Pat decided to use different types of marketing
After crunching the numbers, she realized that
incoming marketing provided the largest ROI

16. Module Four: Common
Marketing Types (II)
Marketing has gone beyond our
usual, run-of-the-mill methods.
In this fast-paced and fast-
moving society, our marketing
tactics have to keep up with the
times and be in tune with what
the people are interested in.
Good
advertising does
not just
circulate
information. It
penetrates the
public mind
with desires and
belief.
Leo Burnett

17. Guerrilla Marketing
PR stunts
Oversized displays
Public giveaways
Interactive advertisements

18. B2B Marketing
Direct calls
Promotional sales
Special business offers
Networking and social meetings

19. B2C Marketing
Store coupons
Display flyers
Instant discounts
Buying points or rewards

20. Promotional Marketing
Sweepstakes entries
Cash back incentives
Raffle tickets
Chance for free gifts

21. Case Study
The CEO of Happy Time Party has a small marketing
budget, but needs to expand the customer base
He asks his employees to use guerrilla marketing
Employees think that a flash mob is the best solution and
organize a time and place via Twitter and Facebook
New customers are drawn to the fun loving company

22. Module Five: The
Marketing Mix
The marketing mix is also called
the 4 Ps of marketing. The 4 Ps
are product, price, place, and
promotion. Each element of the
marketing mix is linked to the
others, and they all need to be
carefully integrated and
coordinated to be effective.
What really
decides
consumers to
buy or not to
buy is the
content of your
advertising, not
its form.
David Ogilvy

23. Product
Introduction
Growth
Maturity
Decline

24. Price
•Customers willing
to pay for the
product
Value
based
•What the product
actually costs to
make
Cost
based

25. Promotion
Advertising Selling
Publicity
Word of
mouth

26. Place
Method of delivery
Affects the price
20% of cost
Where purchased

27. Case Study
Casey noticed an 18% decline in sales of
printers after the first few years of business
She decided to improve sales with marketing.
Casey doubled the marketing budget, but she did not
see a significant ROI.
She updated her product and used a value based
pricing system. This lead to a 23% increase in sales.

28. Module Six: Communicating
the Right Way
Communication is essential to
successful marketing. Poor or
unfocused communication will
not help close a sale.
Communication requires
practice, understanding of value,
and entertainment.
Bad human
communication
leaves us less
room to grow.
Rowan D.
Williams

29. The Marketing Pitch
Be concise
Write it down
Practice

30. Sell Value, Not the Price
1/3 buy on
price
List
strengths
Offer great
service

31. Fun and Entertaining is Powerful
Catch
interest
Creates
buzz
Super
Bowl

32. Choosing the Right Media
Television
Expensive and the message may be
ignored
Publications
Reach your target market in
specific publications
Internet
Banner ads and SEO broaden the
market
Social
media
Allows customers to follow and
share

33. Case Study
Nick did his homework and took time to
study his target market and what they value
Charts and graphs proving that his product would best
meet the needs of his customers
He was surprised when his sales were short of his
projections by 15%
Nick realized that the consumers found the competitor
to be more memorable and entertaining.

34. Module Seven: Customer
Communications
Communication is never one-
way. What your customers
communicate with you is just as
important as what you
communicate with them, if not
more so. You need to listen to
and value communication from
customers.
You need to give
customers what
they want, not
what you think
they want.
John Ilhan

35. Give Your Customers a Voice
Feel like they matter
Helps address problems
Increase retention
Improve branding

36. It’s Not About You, It’s About
Them
Customers
view
What they
value
Feedback
Earn
customers

37. Every Interaction Counts
Manage the relationship
Marketing opportunity
Treated with respect
Never waste an opportunity

38. Answer Questions Honestly
Do not treat all complaints the same
Communicate respectfully
Lying will create distrust
Personalized answers

39. Case Study
Jane noticed a 27% drop in her sales after
two years.
Jane decided to observe her store on her days off.
She was appalled at what she saw. Employees either
ignored customers or treated them like interruptions.
She immediately, implemented an employee training
program and after six months, her sales increased 25%.

40. Module Eight: Marketing
Goals
Marketing goal provide the
direction of your marketing
campaign. Without goals, it is
impossible to know what needs
to be done. Goals need to be
long-term, broad, and provide
aspirations for what you want to
achieve through marketing.
Setting goals
is the first step
in turning the
invisible into
the visible.
Tony Robbins

41. Brand Switching
Increase market share
New product
Not easily swayed
Listen to customers

42. Repeat Purchases
Essential for
business
Cheaper than
new customers
Customer
service
Loyalty
programs
Direct
communication

43. Brand Loyalty
•Draft them
•Interact with
them
•Give them
perks
•Listen to them
Brand
Champions

44. Inform and Educate
Webcast
Social media
Newsletters
White papers

45. Case Study
Customers were switching to online news
magazines, so Hank decided to create an e-zine.
He expected a smooth transition, but customers
complained and he lost 12%
His mentor told him to market the benefits of the
changes.
He was not able to retain all of his customers, but he
was able to gather new ones.

46. Module Nine: The
Marketing Funnel
Market funnels are traditional tools
used by marketers. The marketing
funnel contains the stages that a
customer takes on the way to
purchase your product. The funnel
may vary slightly, but there are basic
stages in the AIDA funnel that remain
the same.
Don’t be afraid
to get creative
and experiment
with your
marketing.
Mike Volp

47. Awareness
First stage
Customer becomes aware of
product
Word of mouth
Positive experiences

48. Interest
Advertise benefits
Show advantages over
competition
Show how it will solve problems

49. Desire
Aspire to own
Convince brand will satisfy
Offer incentives
Offer samples

50. Action
Purchase occurs
Calls to action
Coupons
Subscriptions

51. Case Study
The CEO of Time Corp was curious about the
marketing funnel
He noticed that fewer customers were taking action,
even if they showed interest and desire
He realized that there was no call to action to lead
customers through the process
He began offering incentives, both physically and on
social media

52. Module Ten: Marketing
Mistakes (I)
Marketing is essential for driving your
business. Done correctly, marketing
will increase sales and improve
customer relationships. This is why it
is so important to avoid the common
mistakes that people make when
marketing.
The most
common trouble
with advertising
is that it tries
too hard to
impress people.
James
Randolph
Adams

53. Not Taking Social Media Seriously
Without it, you will not be able to maintain contact with
customers
Needs to be updated and monitored carefully
Not responding to customers harms customer
relationships
Lacking consistency between platforms will create doubt

54. Not Having a USP
What are the unique factors of your
brand?
Which factors separate you from the
competition?
Which factors are important to your
customers?

55. Cross Cultural and International
Translations
Mistranslations Inaccuracies Be aware of
where your
product goes

56. Not Building a Relationship
Know the customer
Regular contact
Respond to emails
As an individual

57. Case Study
Betty decided to create social media
accounts for her jewelry business
Small business owner who could only afford one
employee
She had little time to manage the social marketing
platforms
She decided to delegate some of the responsibility to
him

58. Module Eleven: Marketing
Mistakes (II)
There are many different
marketing mistakes, but the
information in these modules
should help you avoid them. The
key to successful marketing is
being aware of common pitfalls
and understanding how to avoid
them.
Any man can
make mistakes,
but only an idiot
persists in error.
Marcus Tullius
Cicero

59. Not Having a Plan
Target market
Unique aspects
Establish price
Communicate and brand
Methods of distribution

60. Aiming at Everyone
Impossible to
please
everyone
Targeted
marketing
Grow the
company
faster

61. Not Tracking Metrics
Do not assume
Leads
Conversation rate
Cost per lead
ROI

62. Not Listening to Your Customers
Undivided attention
Key words
Do not make assumptions
Rephrase for clarity

63. Case Study
Jeremy opened a dollar store that he was
certain would benefit everyone
He aimed his marketing at everyone
His accountant informed him that he had little ROI
from his marketing budget
He adjusted his marketing to suit the target market
and saw a return on his investment

64. Module Twelve:
Wrapping Up
Although this workshop is coming to a
close, we hope that your journey to
improve your Marketing skills is just
beginning.
Please take a moment to review and
update your action plan. This will be a
key tool to guide your progress in the
days, weeks, months, and years to
come.
We wish you the best of luck on the rest
of your travels!
Money never
starts an idea; it
is the idea that
starts the
money.

William J
Cameron

65. Words from the Wise
•Don’t find customers for your products; find
products for your customers.
Seth Godin
•Marketing is a very good thing, but it
shouldn't control everything. It should be
the tool, not that which dictates.
Nicolas
Roeg
•Word-of-Mouth marketing has always been
important. Today, it is more important than
ever because of the power of the internet. Joe Pulizzi