ENTREPRENEURIAL MARKETING STRATEGY

External Environment authoritative, followers) (Export San

• Physical Environment (islands, weather) • Behavioral: Mig Light)
• Demographic Environment (Ape, sex, family size) - Usage occasion (regular, special occas.), Benefits Strategic Market Penetration Distribution:
• Economic Environment (GNP GDP Interest, forex) sought (freshness, quality, economy, good taste), User Is the Jar Full? Concept
• Political & Legal Environment (laws, leadership) status (light, heavy user), Loyalty status, Readiness Empty the jar, fill it up Penetrate Major Primary
• Cultural Environment (practices, beliefs) stage with golf balls Market Segment
• Psychological Environment (obsolescence, trends) (supermarket)
• Competitive Environment (direct & substitutes) Market Targeting
Add pebbles Expand
• Evaluate the market segments
(groceries/convenience
The Firm (Components of the Internal Environment) • Choose the target markets
store
• Research and Development and Technological • Distinguish market coverage strategy:
Add sand Intensity (sari-sari
capabilities - differentiated vs. undifferentiated marketing or
stores/variety/community)
• Goals, Objectives, and Culture concentrated marketing
Add Water Saturate (office
• Personnel - recognize what makes products or services different
seller/schools/hospitals)
• Finance Resources (see Unique Selling Proposition)
• Product and Supply-Chain Capabilities Then get new jar For new market
• Service Capabilities Positioning (provincial/abroad)
• The act of designing the company's product image
Selling Concept versus Marketing Concept and value offer so that the segment's customers Marketing Mix (4P's)
understand and appreciate in his mind what the PRODUCT: product variants, features-benefits,
Focus on products Focus on Customers positioning
company or product stands for in relation to
Selling and promoting Integrated marketing (4 PRICE: price cuts, discounts, special offers, bundle offer,
competitors.
means P’s) product, price, place, (Incentives: freebies, warranty, give aways)
• In positioning, what is most important is how the
and promotion PLACE:
brand is ranked in your customers against your
Profits thru sales volume Profits thru customer - Channel design retailing, wholesaling, institutional
competitors.
satisfaction - Physical distribution
STRATEGY TACTICS PROMOTION:
A plan of action or policy An action or strategy • Advertising
Factors Influencing Buyer Behavior
designed to achieve a carefully planned to • Promotion/Events
• Cultural: (culture, subculture, social class)
major or overall aim achieve a specific end • Merchandising
• Social: (reference group, family, roles & statuses)
STRATEGY TACTICS • Selling
• Personal: (age, life cycle stage, occupation,
economic circumstance, lifestyle, personality and self- Do the right things Do things right
What you should do How to do things Market Leader Strategies
concept)
Ways of fulfilling the end application of strategy • Expand Market Share
• Psychological: (motivation, perception, learning,
• Expand Size of the Market:
beliefs and attitudes)
a) More Users
Market Segmentation Growth Strategy Matrix b) More Usage Occasion
• Geographic: c) More Usage per Occasion
CURRENT NEW • Protect Market Share
- Metro Mla. Prov. Luzon/ rural, urban
PRODUCTS PRODUCTS
• Demographic:
CURRENT Market Product Procter & Gamble Leadership Strategy
- Age, sex, income class (AB, C,D+), family size,
MARKET Penetration Development • Better than average quality
education, religion (Christian/Muslim/Jews)
(San Miguel (San Mig Light) • Improved product quality over time (always)
• Psychographics: Beer) • Product innovation (constant)
- social class (novo-rich, old rich). Lifestyle (health buff, NEW MARKET Market Diversification • Product flanking (hit competitors on weak point)
fashionista, active) personality (compulsive, Development (Ice cream) • Multi-brand strategy
ENTREPRENEURIAL MARKETING STRATEGY
• Brand extension strategy with unmatched product (and service) quality
• Heavy advertising • Maintain a dynamic, highly motivated & engaged
• Aggressive sales force organization with a burning desire to succeed and
• Effective sales promotion continuously grow. Some Considerations
• Competitive meanness (relentless to competitors) • Constantly raise the bar. Aim for more. ► A mission statement describes who the organization
• Production efficiency is and what business it's really in.
What is a Marketing Plan? ► It's what makes the organization go-reflects its
CULTURE OF EXCELLENCE • A marketing plan is the blueprint or the map you internal and external perception.
• Leadership in every market segment intend to follow in order to achieve your goals. ► It must be understood by everyone.
• Best Quality • If you are planning for existing programs, the plan will ► It drives the organization and dictates how things are
- Continual Innovation/ Improvement incorporate the strengths of your current effort with done.
- Best vs. Competition needed changes and improvements. ► It should be kept simple.
- Perceived best quality / Consumer Delight • If the plan is for a brand new product or service, it will
• Manufacturing Excellence pull all the elements together for an effective start on Mission Statement
• Marketing, Logistics, Distribution, Trade Servicing marketing. A clear, concise description of:
• Recognized Best and Innovative Practices ► The organizational identity
Why have a marketing plan? ► What business is the organization really in
HOW TO BEAT COMPETITION ✓ To find out where you are ► Results the organization wants to accomplish
• Thoroughly study market, consumer behavior ✓ To know where you're going
especially unperceived needs ✓How to get there Executive Summary
• Study competition, its offerings, strategies and ✓ Do we have strong financial back- up to finance for ► An overview
approaches Technology and systems that works ► Readable and concise
• Create a new market space by offering more than ✓ Do we have capable or right people of HIGH CALIBER ► Summary of main objectives of the plan
competition
• Offer something unique, a (USP) Unique Selling Some Considerations Internal Analysis
Proposition, Product Benefit ►See it as a process ■ Background
• Highlight value-added offerings that delight or elevate ► Form a team ■ Current status
level of satisfaction ►Keep it simple ■ Future directions
• Offer more than competition can and exceed ►Develop a time-frame ■ Current resources
consumer expectations ► Give it a life ■ Strengths and weaknesses
• Constant re-study your market, understand changing ► Get feedback
consumer habits, beliefs and expectations, identify gaps ► Have a simple revision process External Analysis
in customer satisfaction and fill these gaps ► Consistent with mission statement ► Economy
• Be persistent and focused ► Demographics
• Be continually innovative. Do things differently or do Components of a Marketing Plan ► Trends
it better than competitors. ✓ Mission Statement ► Competition
• Aggressively communicate value ✓ Executive Summary ► Target market
innovation/differentiation thru creative marketing, ✓ Internal Analysis
promotion and advertising ✓ External Analysis Opportunities and Threats
• Be prudent in expenditure by being more resourceful, ✓ Objectives ► Environment produces both
hardworking and creative ✓ Marketing Strategies ► Estimate probability
• Phase-in market penetration, one segment at a time. ✓ Identify Resources ► Severe, not severe
Aim for leadership within segment ✓ Implementation Plan ► Very likely, very unlikely
• Gradually expand product & benefit offering ✓ Marketing Budget
• Maintain a culture of and a passion for excellence ✓ Evaluation Methods The Competition
ENTREPRENEURIAL MARKETING STRATEGY
✓ Who they are ✓ It has discipline
✓ Product/service features ✓ It results in a positive ROI
✓ Pricing, packaging, promotion
✓ Competitor
strengths/weaknesses
✓ How are you different?

Customers and Target Markets

✓ Current and potential customers
✓ Customer requirements
✓ Market clusters

Marketing Strategies
✓ Customers/target markets
✓ Programs and services
✓ Packaging
✓ Pricing
✓ Promotion

Implementation Plan
✓ Steps
✓ Responsibility
✓ Deadlines
✓ Budget

Marketing budget
✓ Advertising/media
✓ Direct mail
✓ Databases
✓ Printing/production
✓ Mailing

Evaluating the Marketing Plan

✓ Success measures
✓ Completion of action dates
✓ Accomplishment of goals and strategies
✓ Results
✓ New/repeat customers
✓ Win rate on sales
✓ Average size of contracts
✓ Revenue

Summary
✓ The marketing plan
✓ It's a process!