21st century marketing understanding the new marketing realities

21st Century Marketing 21st Century Marketing

Understanding the New Marketing Realities

MarketingMarketing = = AdvertisingAdvertising

/

MarketingMarketing

“A strategic aggregatation of functions involved in moving goods from producer to consumer…”

Source: Webster’s New Collegiate Dictionary

Successful AdvertisingSuccessful Advertising• Tactical execution of the

Marketing Strategy• Questions and more questions• Local research• National research• Finding the real truth

Ten Reasons To AdvertiseTen Reasons To Advertise

• Create Store TrafficCreate Store Traffic– Increase salesIncrease sales– Expand base of shoppersExpand base of shoppers

–Time PovertyTime Poverty– Impulse purchasesImpulse purchases

1.1.

Ten Reasons To AdvertiseTen Reasons To Advertise

• Attract New CustomersAttract New Customers– Increase householdsIncrease households– Changing demographicsChanging demographics– Changing lifestylesChanging lifestyles

2.2.

Ten Reasons To AdvertiseTen Reasons To Advertise

• Encourage Repeat BusinessEncourage Repeat Business– Decrease in Store and Brand LoyaltyDecrease in Store and Brand Loyalty– Increased MobilityIncreased Mobility

3.3.

Ten Reasons To AdvertiseTen Reasons To Advertise

• Generate Continuous Generate Continuous BusinessBusiness–Not just special salesNot just special sales–Every day is a “sale” dayEvery day is a “sale” day

4.4.

Ten Reasons To AdvertiseTen Reasons To Advertise

• Is An Investment In SuccessIs An Investment In Success– Long Term beats sporadicLong Term beats sporadic– 5 year = 100%5 year = 100%– Cut = < 50%Cut = < 50%

5.5.

Ten Reasons to AdvertiseTen Reasons to Advertise

• Keeps You in the Keeps You in the Competitive RaceCompetitive Race– # Customers– # Choices– Expand Market Share

6.6.

Ten Reasons to AdvertiseTen Reasons to Advertise

• Keeps your Business Top-Keeps your Business Top-of-Mind With Shoppersof-Mind With Shoppers– RecencyRecency– Comparison ShoppingComparison Shopping

7.7.

Ten Reasons to AdvertiseTen Reasons to Advertise

• Gives Your Business a Gives Your Business a Successful ImageSuccessful Image– Economic ConditionsEconomic Conditions– Perception = RealityPerception = Reality

8.8.

Ten Reasons to AdvertiseTen Reasons to Advertise

• Advertising Maintains Advertising Maintains MoralMoral– Competitive AdvantageCompetitive Advantage– Sense of BelongingSense of Belonging– RecruitmentRecruitment

9.9.

Ten Reasons to AdvertiseTen Reasons to Advertise

•Brings in Big BucksBrings in Big Bucks–Advertising Works!Advertising Works!

10.10.

MarketingMarketing

“A strategic aggregatation of functions involved in moving goods from producer to consumer…”

Source: Webster’s New Collegiate Dictionary

DefinitionsDefinitions• Marketing:

–Integrated Promotional Opportunities

–Aggregated to Produce the Sale of Product or Service

Common Marketing Goals?Common Marketing Goals?

• Auto Dealer• Snowmobile Dealer• Jeweler

DefinitionsDefinitions• Marketing:

–Increasing Demand through:• Improved “want”• Improved “need”• Improved “perception”

Who Cares?Who Cares?“The further down the

marketing ladder you go, the greater the misunderstanding of the marketing goal.”

Mark H. McCormack, CEO, IMG

Operating GoalsOperating Goals• Client

• Agency AE• Planner• Media Buyer

• Make the Business Work• Keep the Client• Marketing Plan• Cost Per Point

Your Role TodayYour Role Today• Operate at all levels

–Find options for clients–Not a commodity broker –Help beyond advertising–The Marketing Strategist

The New RealityThe New Reality• Positioning yourself with the client

assures you some degree of control.• The need is greater today for new and

greater revenues• Waiting for the media buyer to call

leaves you more vulnerable

The Marketing PlanThe Marketing Plan

•The Four P’s Product

Product MarketabilityProduct Marketability

• Quality/condition of product• Consumer’s perception• Rolex doesn’t sell watches

ProductProduct IssuesIssues• Purpose?• Idea behind it?• Relationship to the customer?• Perception?• Intangible assets?

The Marketing PlanThe Marketing Plan

•The Four P’s Product Price

PricePrice: : Driven by DemandDriven by Demand

• Influences on Price:–Perception of value–Competition–Glut or Shortages–Position in Market

The Marketing PlanThe Marketing Plan

•The Four P’s Product Price Place

Place (Distribution)Place (Distribution)• Customer Behavior

– Repeat business– One-time transaction

• Business Image– Warehouse, high-traffic location,

website, catalogue, discount, upscale site

The Marketing PlanThe Marketing Plan•The Four P’s Product Price Place Promotion

The Elements of PromotionThe Elements of Promotion

• Customer Relations• Publicity• Promotion• Advertising

Critical StagesCritical Stages• Unawareness• Awareness• Comprehension• Conviction• Action

Failed AdvertisingFailed Advertising......

• Caused by poor marketing strategies

• Resulting from flawed information

Your Role as Your Role as Advertising ExpertAdvertising Expert

• Know how to use advertising at the tactical level in order to:

• Have advantage as a marketing strategist.

• AOL – Salespeople are trained to look at a

customers’ businesses as if they are their own.

• 12 Technologies– Value based selling ensuring that customers

don’t pay unless they see measurable results.

Finding the Real Truth:Finding the Real Truth:

• JOHNSON CONTROLS, INC. (auto parts)– Salespeople add value to customer relationships by

giving clients market research on their consumers.• MERCK AND COMPANY, INC. (pharmaceuticals)

– Train it’s salespeople to understand medicine, so they can communicate as peers, even if that means suggesting a competitors product on occasion.

Finding the Real TruthFinding the Real Truth