marketing and sales tips - the...
TRANSCRIPT
MARKETING AND SALES TIPS for
Start-Ups and Product Launches
Norma A. Mendoza, Ph.D.
President
MerKadoTeknia Research and Consulting LLC
Hosted by
OUTLINE
Defining Marketing Goals and Sales Objectives
Defining And Reaching Your Target Market
Mapping Strategy to Achieve Goals
Reaching Your Target Market
Evaluating Your Strategy – The Feedback Loop
Worksheet – Self Evaluation
Concluding Thoughts, Q&A
DEFINING MARKETING GOALS
AND SALES OBJECTIVES
Customer orientation Determine target market’s needs and wants – satisfy needs
and wants more efficiently and effectively than the
competition
DOES YOUR PRODUCT SERVICE
SOLVE A PROBLEM?
(Be it perceived or real)
DEFINING AND REACHING YOUR
TARGET MARKET
WHO ARE YOU TRYING TO SELL TO?
Who needs your solution?Map their consumer decision making process
• 1) PROBLEM/NEED RECOGNITION
• 2) SEARCH FOR INFORMATION
• 3) EVALUATION OF ALTERNATIVES
• 4) CHOICE
• 5) POST-CHOICE EVALUATION
THIS IS THE STARTING POINT
FOR YOUR STRATEGIC PLANNING
MARKETING RESEARCH
Should guide 12-18 months of decisions• Consumer behavior patterns, demand – Primary data
• Competition
• Industry trends
• Legal developments
• Sourcing- stability of prices
5
Secondary data
IT NEEDS TO BE PART
OF YOUR OPERATING BUDGET
MAPPING A STRATEGY TO
ACHIEVE GOALS
AWARENESS
PREFERENCE
TRIAL
REPEAT SALES
LOYALTY
• Each of the above requires a different strategic approach – MARKETING MIX
• Requires long-term planning
MARKETING MIX
7
BRANDING, POSITIONINGAND DIFFERENTIATION
Brand equity is the sum of consumers’ perceptions and feelings about:
• A products’ attributes and how they perform
• A brand name and what it stands for
• The company associated with the brand
Positioning desired perception of your product/service when seen against competitors
Differentiation Unique Selling Proposition consumers’ perception versus reality
REACHING YOUR TARGET MARKET
• Traditional Media planningo Resource allocation based on objectives
o 12-month schedule minimum
• Marketing 2.0 - Social media and guerilla
marketing
o Low-cost but time consuming
o Planning and scheduling
o Content is KING – engage!
o Requires a clear brand image – single voice
• The role of a sales team
EVALUATING YOUR STRATEGY –
THE FEEDBACK LOOP
The ROI of marketing efforts
• Evaluation should be based on initial objectives
Pre- and post analysis
Levels of analyses
o Short-term
o Long-term
o Product-specific, region specific, market
specific
Resource allocation based on outcome
CUSTOMER FEEDBACK
• Customer satisfaction surveys
• Gap analysis of expectations versus experience
• Mystery shoppers
• Customer complaint analysis
• Analysis of customer defections
ONGOING PROCESS
o MONTHLY
o QUARTERLY
o YEARLY
Worksheet
• Complete based on your own situation
• Start up
• Product launch
• Existing business
• What areas were you able to answer
confidently?
• What areas were you struggling with?
WHAT’S NEXT?
Q & A
www.merkaconsulting.com
@Merkaconsulting