Research, Analysis and Promotion

Jennifer Layton Layton’s Chance Vineyard & Winery

Everything you do…

from “idea”

to “repeat customers”

Creating Value and Unique Selling Proposition

• Money • Time • “Switching”

• Better Performance • Faster Delivery • More Convenience • Quicker Response

most benefit . . .

for the least cost

Value: Your product or service is: • “the only__________”

• cheaper

• available (a benefit, maybe!)

• a better performer

• more convenient • faster • safer • better-looking • more prestigious

Give your customers a reason to buy from you!

Example

Features ADT- Security Systems Disney Magical

Gatherings Generic Brands Organic Food

Piece of mind, control

Benefits

Treasured Memories

Saving money

Health, longevity

What do they look like? – How do they act?

Statistics of a population Need to define geographic area

Examples: age, disability, race, gender, income, mobility, home ownership, location, employment status, and/or education level.

Creating a demographic profile: Female, married, ages of 25-40, and college educated

Where can you find demograpics of an area www.census.gov –American Fact Finder Chambers of Commerce Industry trade associations Research Companies – Neilson, Forrester Research

Study of personality, values, attitudes, interests, and lifestyles (AIO-Activities, Interests and Opinions) What they like to do Where they like to hang out What causes they support

Behavior Buying behavior – brick vs. click, length of time Travel habits – adventurous or stay close to home Usage rates Readiness to buy

Culture Valuable for maintaining customer base

Generation Date of Birth

Number Age 2012

Characteristics

Pre-Depression Before 1930

12MM 83+ Conservative, Concerned with health & aging, activity level & engagement with society

Depression 1930-1945

28 MM 67-82 Patriotic and conformists/traditional, Concerned with active lifestyle, hard work, discipline, common good

Baby Boom 1946-1964

80 MM 48-66 Value individualism & self expression, careers workaholics, active retirements, Value –family, health, energy, considered self-centered and suspicious of authority.

Generation X 1965-1976

45 MM 36-47 Multiculturalism and global thinking are the norm, pessimistic, question conventionalism. Value-family/work balance, do not believe in sacrificing for advancement.

Generation Y (Millenials)

1977-1994

71 MM 18-35 Used to fast-paced technologically driven life, want choices and want immediate results, value authenticity

Generation Z 1994 29 MM <18 Appear to be the new conservatives, embracing traditional values, never lived without the internet.

Williams, K, and Page, R. (2010), “Marketing to the Generations” Journal Behavioral Studies in Business, 17 You can find it here.

Do not try to be all things to all people!

Target Marketing or Niche Marketing…. Is what you need!!

Narrow your customer base

down to specific group

What is going on in the world around you?

www.gliffy.com

Name Competing Industry

Product Summary

Strengths Weaknesses Strategies Used

Market Outlook

Comp. #1

Wine Industry

Mostly Dry Wines

Meticulous Wine- maker

Not open often

High end wines

Growing but not rapidly

Comp. #2

Tourism –Kayak Company

Nature Trails/tours

Beautiful Scenery

No regularly scheduled tours

All tours are custom

Declining sales

Find: -Online -Chamber -Asking around

Websites visiting

Feedback Feedback Review website, literature ASK!!!

Can be done by surveys or assessment

It is not corporate espionage!!!!

The Power of Story Story is very important in the Agriculture industry Can’t be the same old, “We are a family owned farm

and we believe in producing the best……” Authenticity is necessary What kind of stories work?

Needs good opening Has emotion Green light – before and after It needs to evoke the action you are looking for

Resource: www.storyjuicing.com

Price

Promotion Place

Product

“the 4 P’s”

PRICE

my costs my

customers

my competition

PRICING for

VALUE:

value of my “point of difference”

competitor’s price

+/-

my price =

Promotion & Place

Television? Events? Friends?

Newspaper? Salespeople?

How do your customers get

information?

Advertising Publicity

Events Personal Selling

Marketing Research and Analysis lets you Know Yourself Determine Marketsize/Potentional Know Your Customers

He who fails to plan is planning to fail.

~Winston Churchill