how much does a butter chicken cost?
DESCRIPTION
Marketing basics presentation for Start-Up Saturday. Introducing the basics of marketing to an audience of mostly engineers. These slides were presented by me to a large group and are not meant to be stand-alone.TRANSCRIPT
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How much does a butter chicken cost?
Image source: www.ezymeal.co.nz
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Vivek SinghStudied at IIM Ahmedabad
Marketing & SalesFMCG , Steel, Real Estate & Edible Oils
Presentations Blogger
Working in Hyderabad
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Marketing for Start Ups
Nov 14Saturday
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What is Marketing?
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What brings the customer to your store (website) is Marketing.
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Marketing is Customer Pull
Image source: http://freedigitalphotos.net/
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Marketing is all about…
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The Target Consumer
Image source: www.openclipart.org
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Hi!My name is
Target Consumer
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Every one is not a consumer.
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When you segment, you can group them
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and target the groups which are more lucrative $$$
Target
Target
Don’t Target
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Psychographic Profile(Personality, Lifestyle,
Interest, Opinion)
Behavioral(Benefit sought, User status)
Demographics (Age, Sex, Income, Location,
Language, Education)
Market Segmentation
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Write down who your target consumer is?
Task #1
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How have you segmented your market?
Task #2
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How do you target the consumer?
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Develop a strong value proposition“Consumer pays XX and gets YY”
Steps in Targeting
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Steps in Targeting
Make your value proposition different from competition (Unique Selling Proposition)
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Develop a Reason to Believe (RTB).Why should a consumer believe your proposition?
Steps in Targeting
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What is your Proposition,USP and RTB?
Task #3
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Image source: www.eastbaymom.com
Elevator Pitch
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What you do and Why are you better than others (USP)?
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Put this on the back of your visiting card
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Add this to your email signature
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So consumers remember and pass it on (correctly)
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Making an Elevator Pitch What is your product/service?
What does it do for the consumer? (benefits)
Who is behind the company?
What is your competitive advantage?
Source: http://en.wikipedia.org/wiki/Elevator_pitch
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What is your Elevator Pitch?
Task #4
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Equipped with your propositionyou target the market
Image source: www.freeditigalphotos.net
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Where to target the consumer?
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Media habits
Hang Out
Listens to
Likes/Dislikes
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Follow your consumer
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Social Media
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Image source: www.thedewview.wordpress.com
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Use it if and only if your consumers are using social media
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How many of you have a website and not a blog?
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How many of you have not updated your blog in
the last 30 days?
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Do you need a Social Media Strategy?
Task #5
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“Half the money I spend on advertising is wasted, and the problem is I do not know which half.”- Lord Leverhulme, British founder of Unilever
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Measure what you spend
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A Start Up Case Study
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How much does a butter chicken cost?
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Rs.6,000 for 2
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Who is their target consumer?
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Target ConsumerUpper Middle Class
The RichConnoisseurs of Food
Living in MetrosConspicuous Consumption
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Proposition:World’s finest butter chicken
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Unique Selling Proposition
PriceHome Delivery
Order online (only)It is the only product they sell
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Reason to Believe
Cooked by owner himself Cooked for 12 hrsExotic ingredientsTook 8 years to perfect the recipe
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Social Media Strategy Website PR– Media coverage– Link back to reviews on blogs
Facebook Fan Page
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City Tours Tangibilize the intangible
Bring in a personal touch
Meeting and taking feedback from consumers
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To Summarize Segment the market
Target the most lucrative ones
Define your target consumer
Understand the consumer
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To Summarize Develop value proposition, USP and RTB
Develop your elevator pitch
Develop a social media strategy (if needed)
Marketing ROI
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Recommended Reading
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BlogsSeth Godin (Internet marketing)Avinash Kaushik (Web Analytics)ProBlogger (Blogging)
BookStay Hungry Stay Foolish
Image source: www.freeditialphotos.net