space marketing (isdc2011)

Space Marke*ng: Rebranding and Reposi.oning

Space Businesses

Interna*onal Space Development Conference Space Business Track

May 19, 2011

Farnaz Ghadaki, Marke-ng Consultant;

Director, Canadian Space Commerce Associa-on

Outline

•  Why Marke-ng Is Important •  Current Public Percep-on •  ShiD in the Space “Market”

•  Fundamentals of Marke-ng – P1: Analysis & Strategy -‐ The 3 C’s, STP Analysis – P2: Planning & Implementa-on -‐ The 4 P’s

•  Marke-ng Strategies & Tac-cs – my top 12

•  Role of Government & Academia

•  What it means... Farnaz Ghadaki ISDC – May 2011

“Marke-ng”

Why Marke*ng?

•  Misconcep-ons: – Marke-ng = Adver-sing –  It’s expensive & not a lot of value add –  It’s for larger size/later stage businesses

•  Actually:

Marke-ng

Engineering

Finance

Upper Management

Sales

Manufacturing

Marke-ng

PR

MARCOM

Product

Farnaz Ghadaki ISDC – May 2011

Current Public Percep*on: SGC Analysis

•  Society perpetuates stereotypes about space –  intangible & hard to understand – all about engineers & scien-sts, it’s rocket science – expensive, open only to elite –  It’s more for men

•  Today’s role models for children come from the world of Hollywood, sports, music, business men etc

•  Limited space coverage in mainstream media; Space organiza-ons not always have right media approach

•  Limited resources for parents & educators to encourage children to pursue interests in space


Current Situa*on: SGC Analysis

Effect: Space tends to not be a priority for authori-es, media, the general public, parents and children in terms of: funding, coverage, educa-on and career choice.

Children/Youth Family

School

Media

Peers

Society


ShiIs in the Space “Market”

•  Space ac-vi-es led by gov’ts -‐> private sector driven •  Space more in mainstream media and entertainment

– Films: “Le Voyage Dans La Lune”…. “2001: A Space Odyssey” – Celebri-es taking interest in Space, e.g. those rumored to have bought -ckets to Virgin Galac-c Flights


ShiIs in the Space “Market”

•  More opportuni-es for spin-‐in & spin-‐off applica-ons

•  Economic downturn in some countries create opportuni-es for more collabora-ons & compe--on

•  Expanded & earlier educa-on: courses In secondary & post-‐secondary, space camps, compe--ons,..

•  Space careers becoming more mul--‐disciplinary: e.g. astrobiochemistry, geomicrobiology, space law,...

•  Digital age enabling more & faster sharing & exchange of ideas via blogs, social media,…

Effect: opportuni-es to market & REBRAND space in ways that are effec-ve and appeal to the general public


Marke*ng Framework

Company Customer

Compe**on

S -‐ Segmenta*on T -‐ Targe*ng P -‐ Posi*oning

Promo*on Product Price Place (distribu-on)

Create Value Capture Value Communicate Value Deliver Value

3 Cs

STP

4 P’s


Analysis

Situa-on Analysis – 3 C’s (or 5 C’s with Context & Collaborators)

Company (skills, assets & culture)

Customer (needs & trends)

Compe**on (weaknesses/vulnerabili-es)

Demographic & psychographics

Needs, interests, decision-‐making

Sa-sfac-on, brand percep-on

Who are we?

What known for?

What good at?

Who do we want to become?

Who: past, poten-al, current & compe-tor’s

What opportuni-es given our strengths?

Customer percep-on – value, brand, quality

Compe-tors’ reac-ons to our offering

Compe-tors’ strengths & weaknesses

What & who – internal & external


Strategy

Choosing segments to target -‐STP Analysis:

Segmenta*on Iden-fying

meaningfully different groups of customers

Targe*ng Selec-ng which

segment(s) to serve

Posi*oning Implemen-ng chosen image and appeal to chosen segment

•  Demographic Variables (gender, age, educa-on..)

•  Geographic Variables (country, culture, urban..)

•  Psychological Variables (wants, exper-se, who are early adopters..)

•  Behavioural Data

•  Is the segment most prevalent/profitable?

•  Does it have enough growth poten-al?

•  Does it fit w/ our goals & core competencies?

•  Is the Segment ac-onable?

•  Conduct perceptual mapping, and write a posi-oning statement

•  Execute via 4 P’s RESULT:

•  Create consistent focus & iden-fy

•  Help strengthen brand •  Op-mized team work


Planning & Implementa*on

Plan for posi-oning -‐ the Marke-ng Mix (“4 P’s”):

Create Value – What is offering (talk, workshop, design contest,..) – What are values and benefits – What is quality and brand name

Deliver Value – Loca-on – Access (mass vs. exclusive) – Online – Distribu-on channels

Capture Value – Set strategy (skim, penetra-on) – Price levels based on different benefits – Compe--ve pricing – Discounts: group, partner

Communicate Value – Promo-on strategy (push, pull) – MARCOM material – Public Rela-ons – Media incl. online – Adver-sing


Marke*ng Strategies & Tac*cs

0. Basics: (revisit) vision, mission, goals 1.  Solid elevator speech

–  “the grandparent test” –  concise & to the point – hook to grab interest

2.  Develop and use VALUE PROPOSITION i.e. “unique benefits delivered by your offering to …” a.  the target customer b.  poten-al partners c.  investors & shareholders


2. Have the Right VALUE PROPOSITION

A.   “Google uses a patented page-‐ranking algorithm to make money through ad placement.” – business model – value proposi-on for investors

B.   “Google is the largest search engine that allows internet users to find relevant informa*on quickly and easily.” – 4 key elements: what’s the offering, who is target audience, value of offering, and its uniqueness

– value proposi-on for target customer Farnaz Ghadaki ISDC – May 2011

3. Sell Your Strengths, Buy Your Weaknesses

•  Core competency: established brand, distribu-on, exper-se in transporta-on industry

•  Acquired unique technology •  Targe-ng & Posi-oning based on price


4. Provide a SOLUTION to a PROBLEM

•  On-‐Orbit Satellite Service Agreement Announced Between MDA & Intelsat – March 15, 2011

•  Expected to extend the life of each satellite from 1 to 5 years •  Crea-ng new commercial space segment


5. The Best PR Pitch Is SUCCESS


6. Placement for Visibility & Branding

Canadarm •  Core competency: robo-cs •  Huge visibility •  Na-onal pride


7. Know Your Customers & Core Competency

•  Focused on exper-se & customers in their own backyard •  Success through innova-on, persistence & pa-ence


8. Focus on NICHE MARKET: Big Fish in Small Sea

CSCA •  Connec-ng Agency, Industry, Academia •  Niche sector – not aerospace, advocacy •  Have become an opinion leader & go-‐to organiza-on


9. Right Promo*on for Right TARGET AUDIENCE

•  Code-‐named “IT” •  Hyped "as big as the PC” and "bigger than the internet” •  Catchy TV ads but wrong audience


10. Have a Dedicated Marke*ng Director

•  In just 2yrs increased sponsor dona-ons 3-‐fold, event aqendees 3.3-‐fold

•  Annual Symposium is the largest one-‐day space-‐related event in Canada

ASX (Astronomy & Space Explora-on Society


11. Make An Authorized U-‐Turn

The New Coke (1985) •  Marke-ng failure •  Reintroduced original formula, rebranded as “Coca-‐Cola Classic” –

resulted in significant increase in sales Farnaz Ghadaki ISDC – May 2011

12. Leverage Available Tools

•  Blogs, social & online media: –  Promo-on – Demonstrate exper-se – Networking

•  PR:

•  Google tools:

•  Surveys: gather data and measure success


Role of Government & Academia

Leverage opportuni-es & resources:

•  Government providing contracts to develop solu-ons, and public educa-on/outreach programs

•  Research gov’t grants offered to small businesses, technology sector, ‘green’ products/services

•  Work with Academia: internships, compe--ons, joint projects, info sessions, training for teachers

•  Sponsor/support space advocacy groups & events –  increase awareness in a fun way (eg. Yuri’s night) – break myths & stereotypes about space & jobs


What it means…

Time +

Planning

+

Resources

+

Investment

=

Marke-ng Success Farnaz Ghadaki ISDC – May 2011

THANK YOU

Contact: [email protected] hgp://SpaceCommerce.ca

space marketing (isdc2011)

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