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ENTREPRENEURIAL MARKETING Marketing in the 21 st Century By Guru Tom Lopez

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ENTREPRENEURIAL MARKETING. Marketing in the 21 st Century By Guru Tom Lopez. VALUE CREATION. Why buyers buy? e.g. Paco Underhill 1.Buyer buy because of a need! 2.Hierarchy of needs – A. Maslow. NEEDS. WANTS. MUST HAVE. NICE TO HAVE. KAPAMPANGAN CUISINE BICOLANO CUISINE. - PowerPoint PPT Presentation

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Page 1: ENTREPRENEURIAL MARKETING

ENTREPRENEURIAL MARKETINGMarketing in the 21st

CenturyBy Guru Tom Lopez

Page 2: ENTREPRENEURIAL MARKETING

VALUE CREATIONWhy buyers buy? e.g. Paco Underhill1.Buyer buy because of a need!2.Hierarchy of needs – A. Maslow

Page 3: ENTREPRENEURIAL MARKETING

NEEDS WANTS

Page 4: ENTREPRENEURIAL MARKETING

NEEDS WANTS

Page 5: ENTREPRENEURIAL MARKETING

NEEDS WANTS

Page 6: ENTREPRENEURIAL MARKETING

Needs vs. WantsNEEDS WANTS

Why we buy Why we buy one brand instead of another

Our being human

Time- and place-bound influences: Economy, Culture, Religion, Education, Media, Technology

Same for everybody Different for different people

Never change Always, always changing

Page 7: ENTREPRENEURIAL MARKETING
Page 8: ENTREPRENEURIAL MARKETING

AT THE HEART OF VALUE CREATION

DIFFERENTCUSTOMERS

HAVEDIFFERENTNEEDS AND

WANTS

Page 9: ENTREPRENEURIAL MARKETING

AT THE HEART OF VALUE CREATION

TREATDIFFERENT

CUSTOMERSDIFFERENTLY

Page 10: ENTREPRENEURIAL MARKETING

FIT DEFINES VALUE

Page 11: ENTREPRENEURIAL MARKETING

FIT DEFINES VALUE

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VALUE ARCHITECTURE

-( nice to have)Area of differentation wants segment the market constantly changing

Page 13: ENTREPRENEURIAL MARKETING

NEW DEFINITION OF MARKETING – VALUE CREATION

Customer surveySegmentationCompetitive research

MarketingCommunicationlogistics

Brand management1. CSS2. CRM3. Repeat Sales

Page 14: ENTREPRENEURIAL MARKETING

SEGMENTING, TARGETING AND POSITIONINGENTREPRENEURIAL MARKETING- Somebody owns the market position in the

mind of the customer.

1.POSITIONING-Place occupied by product incustomers mind (Al Ries Jack Trout)- Defined by specific productattributes.

Page 15: ENTREPRENEURIAL MARKETING

2. a .ER – Beware Better ≠ Success Bigger / Faster

CONCORDE- Faster plane are gone because according to customers, it ain’t worth it!

b .ING – Is the operant wordEXCELLINGSATISFYINGDELIGHTINGSUPRISINGSELLING

Page 16: ENTREPRENEURIAL MARKETING

3. EXAMPLE-Fighting Colgate

Steps:a. Value must be definedb. Go to the 4Ps

Product – Brand name, packaging features

Promotions – What to say, how to say, who says it

Logical Message – from left brainMagical Message – from right brain

Page 17: ENTREPRENEURIAL MARKETING

THE TOOTHPASTE WARS

Page 18: ENTREPRENEURIAL MARKETING

The DOMINANT Toothpaste

95% of all toothpaste users used colgate!

Page 19: ENTREPRENEURIAL MARKETING

ANALYSIS:

a. Colgate has 95% of marketb. 60 % of toothpaste users also use mouthwash

60 % of toothpaste users also use mouthwash

Page 20: ENTREPRENEURIAL MARKETING

VALUE MUST BE DELIVEREDo PRODUCT

Brand name, packaging, featureso PROMOTIONS

What to say, how to say, how ofteno PRICE

Higher or lower than competitiono PLACE

where to sell

Logical Message – from left brainMagical Message – from right brain

Page 21: ENTREPRENEURIAL MARKETING

VALUE MUST BE DELIVERED

Product – name “Close-up” why? - because you use

mouthwash in “Close-up moments (not white because you become common with Colgate)

New productToothpaste – mouthwash

in ONE

Promotion – “toothpaste & mouthwash in one: courtship (magic) moment

Price – more expensive than Colgatewhy? Because its 2 in 1

Placement – whenever or where ever there is toothpaste and mouthwash sold.

Page 22: ENTREPRENEURIAL MARKETING

SEGMENTING THE MARKET

Cutting the market creates new markets where there are no competitors, no rules.

1.

Not just mere Demographic / Sociographic

Page 23: ENTREPRENEURIAL MARKETING

WHO ARE OUR CUSTOMERS?

Demographics-only segmentationis NOT ACTIONABLE

Page 24: ENTREPRENEURIAL MARKETING

WHEN MARKETING MAGIC HAPPENS

Toothpaste andMouthwash in one

Toothpaste usersWho also usemouthwash

Page 25: ENTREPRENEURIAL MARKETING

e.g.Jolibee – “Langhap Sarap”

is magical message

Sweeter vs. the bland taste of McDonalds is logical message

Safeguard – who says it “recommended by PAMET”

is the magical message

Price – lower,equal or higherPlacement – where it is distributed

Safeguard kills 99% of Germs

Is the logical message

Page 26: ENTREPRENEURIAL MARKETING

e.g.

Page 27: ENTREPRENEURIAL MARKETING

VALUE ARCHITECTURE

Page 28: ENTREPRENEURIAL MARKETING

MEMORIAL PARK : OURS

Page 29: ENTREPRENEURIAL MARKETING

e.g.McDonald’s

The battle is not having more beef & lettuce , or fresh buns but in supplementary non food items!

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PETALS OF SERVICE

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SERVICE PETAL : INFORMATION

o Directions to siteo Schedules/service hourso Priceso Instructions on using core

Product/serviceso Reminderso Warnings

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SERVICE PETAL: CONSULTATIONo Adviceo Auditingo Personal Consultingo Management/ Technical

Page 33: ENTREPRENEURIAL MARKETING

SERVICE PETAL: ORDER-TAKING

o On-siteo Drive-in / Drive Througho Phone-in; Deliveryo Mail Ordero On-line / Internet

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SERVICE PETAL : HOSPITALITYo Greetingo Food and Beverageo Gift packso Waiting facilities and amenitieso Transportationo Security

Page 35: ENTREPRENEURIAL MARKETING

SERVICE PETAL: CARE-TAKING

o Caring for possessions brought by customers

Child care; Pet care, Valet parking, Baggage handling

o Caring for goods purchasedPackaging; deliveryInstallation; upgrades

Page 36: ENTREPRENEURIAL MARKETING

SERVICE PETAL: EXCEPTIONSo Special requests in advance of

service-Diet-Children-Religion

o Handling of complaints/ compliments

o Restitution (refunds, rain checks)

Page 37: ENTREPRENEURIAL MARKETING

SERVICE PETAL:BILLINGo Frequency of statements of

accountso Invoiceso Verbal statements of amount dueo Machine displayo Self-billing

Page 38: ENTREPRENEURIAL MARKETING

SERVICE PETAL: PAYMENTo Self serviceo Customer interacts with service

staffo Automatic deduction from financial

depositso Credit cardso Control and verification

Page 39: ENTREPRENEURIAL MARKETING

STARBUCKSo What was the coffee industry like in

the US before Starbucks came in and revolutionized it?

o What made Starbucks successful?o Why is Starbucks thinking of all of

the varied diversification moves instead of just concentrating on coffee shop expansion?

Page 40: ENTREPRENEURIAL MARKETING

THE MANY VALUES OF COFFEE

0

100

200

300

400

500

600

700

Page 41: ENTREPRENEURIAL MARKETING

THE MANY VALUES OF COFFEE

0

100

200

300

400

500

600

700

Page 42: ENTREPRENEURIAL MARKETING

VALUE ACCORDING TO STARBUCKS

Page 43: ENTREPRENEURIAL MARKETING

House of P’s

Positioning / USP

Passionate PeoplePersistence / Patience

Plac

emen

t

Process thatfulfills a Promise

PrayerPr

omot

ions

Pric

e

Prod

uct

Primary Target

Market

PersistentProfits

Page 44: ENTREPRENEURIAL MARKETING

S – T – P • SEGMENT• TARGET• POSITIONING

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S – T – P • SEGMENT

– Slice the market– Differentiate customers as to how

they• Buy• Use

– Differentiate Needs

Page 46: ENTREPRENEURIAL MARKETING

S – T – P • TARGET

– Which is the preferred market segment?

– Easy to reach, easy to satisfy?– Profitable segment– “MASA”

Page 47: ENTREPRENEURIAL MARKETING

S – T – P • POSITIONING

– Low cost or high cost?– Low quality or high quality?