developing a successful marketing strategy and plan
TRANSCRIPT
Page 111/6/07
© 2007, NABC, Mount Vernon, WA
Developing a Successful Marketing
Strategy and Plan
id22942171 pdfMachine by Broadgun Software - a great PDF writer! - a great PDF creator! - http://www.pdfmachine.com http://www.broadgun.com
Page 211/6/07
© 2007, NABC, Mount Vernon, WA
Key Elements for Success
� Vision.� Marketing Strategy.� Appropriate Tactics.� Execution.
Page 311/6/07
© 2007, NABC, Mount Vernon, WA
Marketing Mix
� Product � value added product.� Promotion � attention, interest,
desire, action.� Price � to the customer.� Place � market segment and
distribution channel.
Page 411/6/07
© 2007, NABC, Mount Vernon, WA
What is a Product
� Basic commodity.� Adding value for your target market.� Enhanced product. Commodity
Processing
Service, Packaging,Branding, etc.
Page 511/6/07
© 2007, NABC, Mount Vernon, WA
Developing a Brand
� Simple brand definition: Name, logo and other outward symbols that distinguish one product or service from another.
� Cluttered market place.� A piece of mental real estate.� A successful brand strategy creates a
strong relationship between the company and customer that is driven by the product or service.
Page 611/6/07
© 2007, NABC, Mount Vernon, WA
Why Brand Your Product or Service?
� Creates recognition.� Gives the owner a position of privilege.� Reduces marketing expense.� Creates customer loyalty.� Provides strategic advantage.� Is an asset that can grow in value.
Page 711/6/07
© 2007, NABC, Mount Vernon, WA
Promotion
� Product positioning.
� Product stories/Features and Benefits.� Product differentiation.
� Strategic competitive advantages.� Developing marketing messages.
� Communication opportunities.
Page 811/6/07
© 2007, NABC, Mount Vernon, WA
Bad Strategic Approach
Page 911/6/07
© 2007, NABC, Mount Vernon, WA
Price
�Cost analysis � cost to produce and expected/required profit margin.�Market surveys � competitor pricing.�Product positioning � price should reinforce positioning.�Pricing strategies: value, mid-range, premium, super premium.
Page 1011/6/07
© 2007, NABC, Mount Vernon, WA
Place or Distribution Strategy
� Traditional distribution channels.- Retail: club, supermarket, convenience.- Foodservice: commercial, non-commercial.� Alternative, Direct Marketing channels.
- Direct store delivery.- Farmers markets.- CSA.- Roadside stand or market.- E-commerce, mail order.- Others or combination.
Page 1111/6/07
© 2007, NABC, Mount Vernon, WA
Questions to Consider How broad or narrow is the market for my product?
Does the value that I�m adding make a difference to that target market?
What are the key features and benefits of my product and how can I best communicate those to my target market?
Is my pricing consistent with the perceived value of the product?
Where is the best place to sell my product? What is my brand and how can I give it meaning? What is your marketing budget?
Page 1211/6/07
© 2007, NABC, Mount Vernon, WA
Marketing Budget
Page 111/6/07
© 2007, NABC, Mount Vernon, WA
Developing a Successful Marketing
Strategy and Plan
id22954906 pdfMachine by Broadgun Software - a great PDF writer! - a great PDF creator! - http://www.pdfmachine.com http://www.broadgun.com
Page 211/6/07
© 2007, NABC, Mount Vernon, WA
Key Elements for Success
� Vision.� Marketing Strategy.� Appropriate Tactics.� Execution.
Page 311/6/07
© 2007, NABC, Mount Vernon, WA
Marketing Mix
� Product � value added product.� Promotion � attention, interest,
desire, action.� Price � to the customer.� Place � market segment and
distribution channel.
Page 411/6/07
© 2007, NABC, Mount Vernon, WA
What is a Product
� Basic commodity.� Adding value for your target market.� Enhanced product. Commodity
Processing
Service, Packaging,Branding, etc.
Page 511/6/07
© 2007, NABC, Mount Vernon, WA
Developing a Brand
� Simple brand definition: Name, logo and other outward symbols that distinguish one product or service from another.
� Cluttered market place.� A piece of mental real estate.� A successful brand strategy creates a
strong relationship between the company and customer that is driven by the product or service.
Page 611/6/07
© 2007, NABC, Mount Vernon, WA
Why Brand Your Product or Service?
� Creates recognition.� Gives the owner a position of privilege.� Reduces marketing expense.� Creates customer loyalty.� Provides strategic advantage.� Is an asset that can grow in value.
Page 711/6/07
© 2007, NABC, Mount Vernon, WA
Promotion
� Product positioning.
� Product stories/Features and Benefits.� Product differentiation.
� Strategic competitive advantages.� Developing marketing messages.
� Communication opportunities.
Page 811/6/07
© 2007, NABC, Mount Vernon, WA
Bad Strategic Approach
Page 911/6/07
© 2007, NABC, Mount Vernon, WA
Price
�Cost analysis � cost to produce and expected/required profit margin.�Market surveys � competitor pricing.�Product positioning � price should reinforce positioning.�Pricing strategies: value, mid-range, premium, super premium.
Page 1011/6/07
© 2007, NABC, Mount Vernon, WA
Place or Distribution Strategy
� Traditional distribution channels.- Retail: club, supermarket, convenience.- Foodservice: commercial, non-commercial.� Alternative, Direct Marketing channels.
- Direct store delivery.- Farmers markets.- CSA.- Roadside stand or market.- E-commerce, mail order.- Others or combination.
Page 1111/6/07
© 2007, NABC, Mount Vernon, WA
Questions to Consider How broad or narrow is the market for my product?
Does the value that I�m adding make a difference to that target market?
What are the key features and benefits of my product and how can I best communicate those to my target market?
Is my pricing consistent with the perceived value of the product?
Where is the best place to sell my product? What is my brand and how can I give it meaning? What is your marketing budget?
Page 1211/6/07
© 2007, NABC, Mount Vernon, WA
Marketing Budget
Page 111/6/07
© 2007, NABC, Mount Vernon, WA
Developing a Successful Marketing
Strategy and Plan
id22966656 pdfMachine by Broadgun Software - a great PDF writer! - a great PDF creator! - http://www.pdfmachine.com http://www.broadgun.com
Page 211/6/07
© 2007, NABC, Mount Vernon, WA
Key Elements for Success
� Vision.� Marketing Strategy.� Appropriate Tactics.� Execution.
Page 311/6/07
© 2007, NABC, Mount Vernon, WA
Marketing Mix
� Product � value added product.� Promotion � attention, interest,
desire, action.� Price � to the customer.� Place � market segment and
distribution channel.
Page 411/6/07
© 2007, NABC, Mount Vernon, WA
What is a Product
� Basic commodity.� Adding value for your target market.� Enhanced product. Commodity
Processing
Service, Packaging,Branding, etc.
Page 511/6/07
© 2007, NABC, Mount Vernon, WA
Developing a Brand
� Simple brand definition: Name, logo and other outward symbols that distinguish one product or service from another.
� Cluttered market place.� A piece of mental real estate.� A successful brand strategy creates a
strong relationship between the company and customer that is driven by the product or service.
Page 611/6/07
© 2007, NABC, Mount Vernon, WA
Why Brand Your Product or Service?
� Creates recognition.� Gives the owner a position of privilege.� Reduces marketing expense.� Creates customer loyalty.� Provides strategic advantage.� Is an asset that can grow in value.
Page 711/6/07
© 2007, NABC, Mount Vernon, WA
Promotion
� Product positioning.
� Product stories/Features and Benefits.� Product differentiation.
� Strategic competitive advantages.� Developing marketing messages.
� Communication opportunities.
Page 811/6/07
© 2007, NABC, Mount Vernon, WA
Bad Strategic Approach
Page 911/6/07
© 2007, NABC, Mount Vernon, WA
Price
�Cost analysis � cost to produce and expected/required profit margin.�Market surveys � competitor pricing.�Product positioning � price should reinforce positioning.�Pricing strategies: value, mid-range, premium, super premium.
Page 1011/6/07
© 2007, NABC, Mount Vernon, WA
Place or Distribution Strategy
� Traditional distribution channels.- Retail: club, supermarket, convenience.- Foodservice: commercial, non-commercial.� Alternative, Direct Marketing channels.
- Direct store delivery.- Farmers markets.- CSA.- Roadside stand or market.- E-commerce, mail order.- Others or combination.
Page 1111/6/07
© 2007, NABC, Mount Vernon, WA
Questions to Consider How broad or narrow is the market for my product?
Does the value that I�m adding make a difference to that target market?
What are the key features and benefits of my product and how can I best communicate those to my target market?
Is my pricing consistent with the perceived value of the product?
Where is the best place to sell my product? What is my brand and how can I give it meaning? What is your marketing budget?
Page 1211/6/07
© 2007, NABC, Mount Vernon, WA
Marketing Budget