Building a Guerrilla Marketing PlanBy: Amanda Nieves

Laurie SalmerónRhaiza CasianoAlexandra Cruz

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Market Diversity: Pinpointing the Target Market

Summary

Marketing

Guerrilla Marketing

Blane Nordahl

One-size-fits all approach

Determining Customer Needs and Wants ThroughMarket Research

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Activity #1

Summary

How to Conduct Market Research

One-to-one marketing

Guerrilla marketing strategies

The Marketing Mix

Final Activity

Questions

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Marketing

Marketing- is everything you do to promote your business, from the moment you conceive of it to the point at which customers buy your product or service and begin to patronize your business on a regular basis.

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Marketing

The key of success:Understand target customers, needs, demands, and wants before competitors can

Offer them products and services to satisfy those needs, demands, and wants

Provide customers with quality, service, convenience, and value so they will keep coming back.

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The term "guerrilla marketing" was first used by Jay Conrad Levinson in his popular 1984 book, Guerrilla Marketing.

Guerrilla Marketing

Guerilla Marketing

Strategies- is a marketing

method described as:

unconventional, low cost, creative

techniques.

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Jay Conrad Levinson

The father of Guerrilla Marketing

The author of the “Guerrilla Marketing” series of books.

Was born in Detroit and raised in Chicago

Graduated from the University of Colorado.

He created and taught guerrilla marketing for ten years in theUniversity of California in Berkeley.

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Guerrilla Marketing

A guerrilla marketing plan should accomplish four objectives:

Pinpoint the target markets the small company will serve

Determine customer needs, wants, and characteristics through market research

Analyze a company’s competitive advantages and build and effective, cost-efficient marketing around them.

Create a marketing mix that meets customer needs and wants.

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Market Diversity: Pinpointing the Target Market

One of the first steps in building a marketing plan is identifying a small company’s target market which is the group of customers at whom the company aims its products and services.

The more a business learns from market research about its local markets, its customers, and their buying habits and preferences, the more precisely it can focus its marketing efforts on the group(s) of prospective and existing customers who are most likely to buy its products or services.

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Blane Nordahl

One of the most successful cat burglars ever

Specialized in stealing only the finest sterling silver

Meticulous market research allowed him to target exactly the right homes to rob

Research tools he used where:* local libraries

*publications such as the duPont Registry and Sotheby’s Previews to identify and learn about upscale neighborhoods

Worked for more than 15 years

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Blane Nordahl

Although Nordahl used a creative marketing approach to achieve illegal gain, small businesses can use a similar approach to make their marketing strategies more successful. Unfortunately, most marketing experts contend that the greatest marketing mistake that small businesses make is failing to define clearly the target market they will serve.

Failing to pinpoint their target markets is especially ironic because small firms are ideally suited to reaching market segments that their larger rivals overlook or consider too small to be profitable.

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One-size-fits all approach

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Determining Customer Needs and Wants ThroughMarket Research

Market research is the vehicle for gathering the information that serves as thefoundation for the marketing plan. It involves systematically collecting, analyzing, and interpreting data pertaining to the small company’s market, customers, and competitors.

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Market research allows entrepreneurs to answer questions such as:

Who are my customers and potential customers?

To which age group(s) do they belong?

What is their income level?

Where do they live?

Do they rent or own their own homes?

What features are they looking for in the products or services I sell?

How often do they buy these products or services?

What models, styles, colors, or flavors do they prefer?

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Market research allows entrepreneurs to answer questions such as:

Simulation – Nothing To Wear

What radio stations do they listen to?

Which Web sites do they visit? What factors are most important to their buying decisions?

How do the strengths of my product or service serve their needs and wants?

What hours do they prefer to shop?

How do they perceive my business? Which advertising media are most likely to reach them?

How do customers perceive my business versus others?

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Market Research

Market research for a small business can be informal; it does not have to be time consuming, complex, or expensive to be valuable. Many entrepreneurs are discovering the speed, the convenience, and the low cost of conducting market research over the Web. Online surveys, customer opinion polls, and other research projects are easy to conduct, cost virtually nothing, produce quick responses, and help companies connect with their customers.

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How to Conduct Market Research

The marketing approach that companies of all sizes strive to achieve is individualized (or one-to-one) marketing

This system consists on gathering data on individual customers and then developing a marketing plan designed specifically to appeal to their needs, tastes, and preferences.

Its goal is not only to attract customers but also to keep them and to increase their purchases.

One-to-one marketing gives a business a competitive advantage, the goal is to treat each customer as an individual.

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Primary Research:

Customer surveys and questionnairesSocial mediaFocus groupsDaily transactionsOthers

Secondary Research:

Business directoriesDirect mail lists

Demographic dataCensus data

ForecastsMarket research

ArticlesLocal data

The Web

Market Research

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Guerrilla Marketing Strategies

Niche

Publicity

Entertain

Connect with customers

Branding strategies

Social Networks

BlogsOnline videos

Be unique

Focus on the customers

Retain existing

customers

Quality

Convenience

Innovation

Customer satisfaction

Speed

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The Marketing Mix

Product

Place

Price

Promotion TARGET MARKET

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GET Product Product life cycle

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Place Method of distribution

For consumer goods: Manufacturer to consumer Manufacturer to retailer to consumer Manufacturer to wholesaler to retailer to consumer. Manufacturer to wholesaler to wholesaler to retailer to consumer.

For Industrial goods:Manufacturer to industrial user.Manufacturer to wholesaler to industrial user.

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Price

The right price for a product or service depends on three factors:

A small company’s cost structure

An assessment of what the market will bear

The desired image the company wants to create in its customers’ minds.

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Promotion

Involves advertising and personal selling

The goals are to create:

Brand image

To persuade customers to buy

Develop brand loyalty

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Guerrilla Marketing Example

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Questions