mt-499 unit 2 seminar welcome! 1. contents unit 1 review unit 2 expectations unit 2 assignment unit...

MT-499Unit 2 Seminar

Welcome!

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Contents• Unit 1 Review• Unit 2 Expectations• Unit 2 Assignment• Unit 2 Content

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Unit 2 Marketing Strategy

In a 3-5 page paper, address the following areas: • Please describe the marketing strategy and then explain how you

plan to use marketing strategies to promote your business. • Include the necessary marketing research you either have done

for your business or are planning to conduct. The costs of these items/activities should also be itemized and included in this section of the proposal.

• Include ongoing costs as well as one-time fees. Note: Do not include SWOT analysis or 4P's in this assignment When you are ready, you may submit your paper on the Dropbox

page. *Note, include your name in the file name of the assignment. For help using the Dropbox, click on Academic Tools above then

Dropbox Guide.

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Unit 2 Content• Role of Marketing• Market Research (including Benchmarking)• Different Types of Marketing Campaigns• Macro/Micro Marketing (Levels of Marketing)• Key Elements for a Successful Marketing Campaign• Marketing Mix (4 P’s of Marketing)

• Product• Price• Place• Promotion

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Marketing and You• Thoughts on the role of marketing• Super Bowl Ads

• Have become almost as popular as the Super Bowl itself

• Are any of the 4 P’s (product, price, place, promotion) more important than the others?

• Your Own Customer Experiences (positive or negative)

• CRM – Ethical or Not?• Anything else that you want to share . . .

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Contents (continued)

• Customer Relationship Marketing (CRM)• Developing a Positive Customer Experience• Branding Campaigns

• Top Brands

• Ethics in Marketing• Benefits• Criticisms

• Marketing and You

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Role of Marketing• What is the Role of Marketing?

• To develop a relationship with customers that is positive and beneficial to both the customer and the company.

• What is the Desired Outcome?• For-Profit Organizations

• To create revenue (and profits) for an organization.

• Not-For-Profit Organizations• To attract customers to support (and/or utilize) the organization’s

mission. In addition obtain donations

Know This LLC (2010). The role of marketing. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/what-is-marketing/role-of-marketing/

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Market Research (incl. Benchmarking)

• Marketing is more than just advertising• Research can be both Quantitative and Qualitative• Research is used to:

• Determine customer needs (Whether B2B or B2C)• Create or improve products/services• Determine effective Marketing campaigns

• Benchmarking for Success• You need to offer a product/service that is superior to (or at least

competitive with) your competitors’ products/services.• Therefore, you need to benchmark:

• Competitors’ Products/Services• Competitor Processes (including supply chains)• Industry Best Practices

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Different Types of Marketing Campaigns

•Television•Radio•Print

•Newspapers / Magazines•Billboards / Benches / Bus Stops / etc.

• internet•Direct Mail

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E-Commerce Marketing• Online

• Pay Per Click• Banner Advertising• Email Marketing• Organic Search• E-Commerce• M-Commerce

• Generating Publicity

Resource Nation, Inc (2010). Guide to different types of marketing. Retrieved from http://www.resourcenation.com/article/guide-different-types-marketing

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Macro/Micro Marketing

• To What Level are you going to market• Local• Statewide• Regional• National• Global

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Key Elements of Successful Marketing Campaigns

• Know your Customer (your target audience)• Thoroughly Analyze your data• Be Creative

• You need to stick out to be noticed

• Response Capturing• Analyze and Improve

Note: The information here is identified for direct marketing campaigns but can apply to all types of marketing campaigns.

AllBusiness.com (2010). Five key elements of a successful direct marketing campaign. Retrieved from http://www.allbusiness.com/marketing-advertising/marketing-advertising/11417626-1.html

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Marketing Mix (4 P’s of Marketing)

• Marketing Mix• Parameters the marketing manager can control, subject to the external

and internal constraints of the marketing environment• Goal is to make decisions regarding the 4 P’s that will create perceived

value and generate desired results

• 4 P’s• Product• Price• Place (distribution)• Promotion

• Note: Do not include SWOT analysis or 4P's in the unit 2 assignment

NetMBA.com (2007). The marketing mix: The 4P’s of marketing. Retrieved from http://www.netmba.com/marketing/mix/

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4 P’s (Product)

• Product• Product refers to the tangible products (and/or services) of a company

• Product Decisions include: • Brand Name• Functionality• Styling• Quality• Safety• Packaging• Repairs and Support• Warranty• Accessories and Services


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4 P’s (Price)

• Price Decisions include: • Pricing strategy (determining margins)• Suggested retail price• Volume discounts and wholesale pricing• Cash and early payment discounts• Seasonal Pricing• Bundling• Price Flexibility• Price Discrimination (selling at different prices to different

customers even though costs are the same)


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4 P’s (Place)

• Place (Distribution)• Getting the product to the customer

• Place (Distribution) Decisions include: • Distribution channels• Market Coverage (inclusive, selective, exclusive)• Specific channel members• Inventory management• Warehousing• Distribution centers• Order processing• Transportation• Reverse logistics (remanufacturing / refurbishing)


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4 P’s (Promotion)

• Promotion (Marketing)• Communication of information about the product/service

designed to generate a positive customer response

• Promotion (Marketing) Decisions include: • Promotional strategy (push, pull, etc.)• Advertising• Personal selling & sales force• Sales promotions• Public relations & publicity• Marketing communications budget


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Customer Relationship Management (CRM)

• Definition• Strategies within an organization to attract new customers and

retain current customers (generating repeat business)

• Online Example: • Amazon.com

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Developing a Positive Customer Experience

• 3 D’s of Customer Experience• Design the right products and services (and offers) to the

customers• Deliver value to the customer by focusing the entire

company on this goal• Develop the capabilities to deliver the positive experience

again and again

• Problems with a negative customer experience • Bad publicity• Power of word of mouth

• Customer Experience Manager (or Customer Relationship Manager)

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Branding Campaigns• Designed to develop:

• Brand recognition • Get people to know your brand name – they may not buy or need

your product, but word of mouth can create other customers

• Brand loyalty• Get a customer and keep that customer.• This can span generations of a family or friends

• Gaining New Customers vs. building Customer (Brand Loyalty)

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Ethics in Marketing (Benefits)• Social Benefits:

• Develop products that meet customer needs, including products that enhance quality of life

• Create a competitive environment that helps lower product prices

• Develop product distribution systems that offer access to products to a large number of customers and many geographic regions

• Build demand for products that require organizations to expand their labor force

• Offer techniques that have the ability to convey messages that change societal behavior in a positive way (e.g., anti-smoking advertising)

Know This LLC (2010). The role of marketing. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/what-is-marketing/role-of-marketing/

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Ethics in Marketing (Criticism)• Criticism of Marketing:

• Encourages people to buy something they don’t need• Embellishes product claims/capabilities• Discrimination in customer selection• Adds to environmental waste (non-biodegradable

products/packaging)• Encroaches on rights to privacy (Amazon.com’s CRM

model)

• Do Marketers have a Social Responsibility?

Know This LLC (2010). The role of marketing. Retrieved from http://www.knowthis.com/principles-of-marketing-tutorials/what-is-marketing/criticisms-part-1/



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Questions?

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mt-499 unit 2 seminar welcome! 1. contents unit 1 review unit 2 expectations unit 2 assignment unit...

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