entrepreneurial marketing presentation by barry ardley for fill the gap marketing
DESCRIPTION
Do your marketing differently. Thanks to Barry Ardley from the University of Lincoln for this presentation at the Fill the Gap Marketing Academy, March 2014.TRANSCRIPT
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Fill the gap marketing academy
Can Marketing Be Entrepreneurial?
Dr. Barry Ardley
Lincoln Business School
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The end of the four Ps?
• Prescriptive…..?
• Polemical….?
• Permanent….?
• Problematic….?
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WHY THE NEED TO THINK DIFFERENTLY?
• Marketing is context dependent, but the context is always changing
• Markets are shifting, overlapping and fragmenting • Technology is omnipresent and pervasive• distribution is being reconfigured and reshaped • Customers are ever more demanding • It’s a global knowledge economy• Law like generalisations no longer apply in an era
of change, complexity, and contradiction
•I think this means no sitting back..
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The Red Queen's race
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Welcome toThe four Cs…
• From products to • co created solutions• From promotion to
• community communication• From price to • customisable• From place to
• choice
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THE FOUR Cs
• Co-creation
• Community
• Customisation
• Choice
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• Fight the Price!
• We’re going to launch into Spring with some serious action. Everyone has sales, but how often do we let our community dictate some of the terms? This time, we’re letting the fans decide the price of a beloved Gameloft title for iPhone, iPod touch and iPad!
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A DEFINITION OF ENTREPRENEURSHIP
• Entrepreneurship has been defined as the process of creating value by putting together a unique set of resources to exploit an opportunity
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‘Entrepreneurship’ then, is a process of innovation and change: so these ideas then get applied in a marketing context…..
and what does this mean?
It means MARKETING BECOMES……
“A world of re-everything”
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A FRAMEWORK FOR ENTREPRENEURIAL MARKETERS
• Opportunity driven
• Proactiveness
• Innovation focussed• Customer intensity
• Risk management
• Resource leveraging
• New Value creation
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Creating new value…
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Experiential innovation
Playground accident
Kiss it better
distraction
Mobile platform
Licenced entertainment
‘Many of our clients are finding their traditional product innovation pipelines are drying up, and they are looking more and more at experiential innovation within marketing as a
means to drive brands forward’ account planning group
Wound care or entertainment?
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Experiential innovationPoint the phone at the bandage and…..
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Opportunity driven Continuous recognition and pursuit of opportunity
Proactiveness An action orientation
Innovation focussed Promoting new and different solutions
Customer intensity Promote passion for the customer the role of emotional, experiential and rational links
Value creation Seeking out novel sources of value throughout the firm
Risk management Comfortable with ambiguity and random variance
Resource leveraging Resourceful in doing more with less
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DRIVEN BY OPPORTUNITY& the other EM dimensions..
From this…….. to this…..
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Resource leveraging
• Is exploiting an opportunity limited to your current resources?
• Resource leveraging: an answer
• ‘We make use of alternative outside resources such as getting a loan or renting out rooms by bartering in return for an advertisement’
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• Merely being customer oriented is not enough…constant innovation (is) necessary to deliver better value to customers….. F. Webster
• The benefits of solely having a customer orientation are short term
• Alone, it cannot provide insight into the long term importance of radical innovation
• So radical and\or incremental innovation?
Strategic INNOVATION & Entrepreneurial marketing
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• You can’t ask customers what they want and then try to give that to them. By the time you get it built, they’ll want something new. – Steve Jobs
TO SERVE OR CREATE?(or a combination of both…)
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Disney creates the fantasy that creates the customer
• Product innovation has the potential to engage peoples minds and imaginations
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THE ICON GRID 4 strategic innovation modes
Follower
Bfocus on the items
customers want
Interact
D
Customers co produce
Isolate
A
Firm becomes the focus of its own attention
Shaper
C
Product becomes essential in defining the market
HIGH
Customer focus
low
low Innovation focus high
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Shaping…
• As printing solutions develop, how will 3D printing impact on the printing industry?
• And elsewhere?
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FOLLOW
• “In designing the actual product the research
allowed management to focus on the items
customers wanted and we avoided focusing
on things important to management but not
important to the customer”
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INTERACT"We believe that marketing will
be much more participatory in
the next few years and we want
to be at the leading edge of that," Babs Rangaiah, Unilever's vice president , global
communications planning. (April warc news)
Customers are now active
participants and co-creators of
value. The role of marketing is to
facilitate customer participation and
provide them with value co-creation
opportunities
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Creative consumers
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innovation is not always about technology and the better mouse trap
• Tap into latent demands for a set of beliefs
• Ben and Jerry's: sustainability
• Innocent: health issues as a cultural assertion
• Starbucks and a new type of service encounter
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Cool businesses are built on unique models
• Three common questions asked in companies
• What is our business model?
• Is our business model working?
• And…the Innovation question..
• Is it time to revise or replace our business model?
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The IBM Business Model
• After problems in the nineties, shifted its focus from hardware to serviceprovider
• It launched a range of new activities in consulting and IT maintenance
• Now more than half of its revenues comes from these areas
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SIX KEY QUESTIONS the model addresses
• How will the firm create value?
• For whom will the firm create value?
• What is the firms internal source of advantage?
• How will the firm differentiate itself?
• How will the firm make money?
• What are the organisations time, size and scope ambitions?
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THE THREE LEVELS OF THE MODEL
• Foundation level: what is being sold -to whom, where etc.
• Proprietary level: create unique combinations being innovative
• Rules level: clear guidelines for implementation
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Foundation
proprietary Rules
1 value - Selling a wide range of
cheese - stock mainly in breath
Source and sell in shop and on
website, some of the most expensive
quality cheeses in the world
Determine price of lowest cost
cheese in line with product image
2 for who? - B2c market
And B2B
Small businesses events marketing,
and cheese lovers
Cheese connoisseurs mainly -
(discerning buyers) Add Trade section
to website
3 Internal
Selling sourcing
Networking
Network to find rare exclusive
cheeses focus on customers facing
employees
Identify new \different suppliers
Improve relations with journalists and
media – send out free taster packs
Highly knowledgeable customer
focussed staff
Rigorous quality control
4 comp strategy
Product service quality
Customer relationships
Add an “expert” to website with
frequently asked questions about
cheese (like assistant in Microsoft)
Add a downloadable video clip to
web showing how cheese is made
from cow to cheeseboard
Add more seasonal packs to the
website i.e.
oWorld Cup
oWimbledon
oFathers Day
oPicnic in the Park Packs
oOutdoor Concert Cheese
boards
oExtraordinary service
levels
Achieve a new sales level for new
high end products
5 economic factors Low fixed costs,
medium variable costs, - medium
volumes, medium to high magins
Cheeses priced from mid market to
upper price levels in line with quality
image
Maintain margins at X % of high and
medium price cheeses
6. size\scope
growth model
Emphasis on growth opportunities Focus on opportunity identification
with a view to expansion
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Other innovations - (inspired by the model)
• Add freebies in boxes distributed by non competitors in exchange for literature drops in their mailings
• Match cheeses for after dinner to types of drinks
• Establish a hotel chocolat link; chocolate and cheese matching
• Vegetarian options
• Adjacent cafe
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ENTREPRENEURIAL MARKETING
Its developing new creative ideas and putting them into practice across the firm – its ongoing, not a `one off’ processNew marketsNew customer valueNew goodsNew services and processes
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The Internet of Things: what will it mean to marketers?
Imagine if your fridge could order your favourite food online, the temperature of your outfit can adjust to weather conditions and your smart contact lenses presented instant LinkedIn data before your next networking event.
It may sound like science fiction but analysts predict that a future world of connected smart devices could offer huge opportunities along with challenges for marketers.
So what is The Internet of Things? And how will it transform the lives of consumers and how you market to them?
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Key References
• Schindenhutte M et al Rethinking marketing the entrepreneurial imperative
• Godin S Purple Cow
• Brownlie D , Saren, M The Four Ps of the Marketing Concept: Prescriptive, Polemical, Permanent and Problematical", European Journal of Marketing, 26 (4)
• http://www.themarketer.co.uk/analysis/features/the-internet-of-things/?utm_source=%20PJUAO6F&utm_medium=email&utm_term=The%20Internet%20of%20Things:%20what%20will%20it%20mean%20to%20marketers?&utm_campaign=
• http://allaboutstevejobs.com/sayings/stevejobsinterviews/inc89.php
• Band Aid - http://www.warc.com/Content/ContentViewer.aspx?ID=84075c28-c5ad-48ac-a713-9d99084d0f65&utm_source=TopicUpdate&utm_medium=email&utm_campaign=TopicUpdate20140306&MasterContentRef=84075c28-c5ad-48ac-a713-9d99084d0f65
• Webster F :The changing role of marketing in the corporation. Journal of Marketing. Vol. 56 (4), AKIO MORITA http://www.marsdd.com/articles/customer-needs-kotler-on-marketing/
• http://davidmerzel.wordpress.com/2011/06/18/the-4-ps-marketing-are-dead-via-davidmerzels-blog/
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References (contd)
• Ardley, B and Taylor, N Marketing in SMEs: assessing the contribution of a business school to the development of competent managers. In: Academy of Marketing Annual Conference Southampton University.
• A study of Turkish boutique hotels Kurgun, Bagirian, D. Ozeren, E. Maral, B.
• European journal of social sciences 2 (3)
• Sloan management review 53(3)
• http://www.mark1hire.co.uk/
• Morris, M. et al Journal of business research 58 (6) .
• Holt D and Cameron D Cultural Strategy
•
• THANK YOU for being here and Listening!
• ANY Questions?