marketing innovation by soe hein-mba
TRANSCRIPT
Marketing Innovationfor Executive Learning
Soe Hein CEO- SME Business Institute Sales & Marketing Expert TrainingDirector- Bagan TradeMember- American Marketing Association [email protected]
SME Business InstituteSales & Marketing Expert
Organize by
Member of Association
“Business has only 2 functions Marketing and Innovation”.
Milan Kundera
Why study Marketing?exciting, challenging & rewarding.
Running the business demands many skills
•Financial•People Management (HRM/HRD)
•Strategic thinking (Management)
•Tactical operations (Administration)
•Marketing
MARKETING IN AN ORGANIZATIONLEADERSHIP
MARKETING
OPERATIONS
SUPPORT
Marketing is a subset of the organizational strategy and as such assists in meeting the objectives of the organization by ensuring that products/services are sold to the right market at a price that will ensure profit.
Strategy
Marketing is multi-faceted
Which area suits you best? Marketing includes a number of activities, including:
1 Research
2 Strategic planning
3 Product development & Branding
4 Consumer behavior & Pricing
5 Sales & Distribution
6 Advertising & promotions
Academic disciplines and marketingAcademic discipline Area of marketing relevance
EconomicPrice theory and strategyEconomic behaviorApplied game theory
PsychologyConsumer behaviorAdvertising messageSocial psychology
ManagementSegmentation strategyDemand analysisGeneral management strategy
SELLING VS MARKETING
Selling Marketing
- Introverted - Extroverted
- Inward Looking - Outward Looking
- Starts with the product - Starts with the customer
- Shorter time horizon - Longer time horizon
- About revenue this week - About profit this year
• Marketing is the activity, set of instructions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.
What is Marketing?
• It is not just “selling and advertising”;• It is the process by which companies create value for
customers• and build strong customer relationships in order to
capture value from customers in return.
Marketing Strategy
Your Marketing Plan SWOT Analysis Your Target Market
Product Development Branding Pricing
Marketing Management Exporting Retail
Cost-effective Marketing Choice of media
DEVE
LOPI
NG A M
ARKE
TING ST
RATE
GY Vision
MISSION STATEMENT
STRATEGY
TACTICAL PLANS
THE MARKETING MANAGEMENT PROCESS
Research
PositioningTarget MarketsSegmentation
Marketing Mix
Implementation
Control
Strategic
Tactical
SME Business InstituteSales & Marketing Expert
HOLISTIC APPROCH
ConsumersQualityValueServiceConsistency
SocietyCommunity involvementCharity supportFamily orientation
StockholderInvestment
EnvironmentRecyclableProducts from sustainable sourcesCSR to CSV
MARKET ANALYSIS
Future Market
Potential Market
Target Market
Current Market
MARKET SIZING
Potential Market
Available Market
Qualified Available Market
Target Market
Penetrated Market
CUSTOMER VALUE PROPOSITION (CVP)
- Define customer needs that the firm is trying to meet
- Identify at whom it is targeting its activities
- State why the firm is different from the competition
- Explain the benefit of this difference to customer
- Indicate how the firm will provide its offering
4 Ps of Marketing ?
Marketing is all about giving the customer what they wants1953 to Now
1. Product The properties of your services2. Price The right price and value3. Place Availability4. Promotion Informing customers in a manner
that they understand
Being customer focused
Expanded 4Ps• People• Process• Physical evidence• Planet
Result of Careful Planning and Execution using state-of –the-art tools and techniques. It becomes both an art and a science as marketers strive to find creative new solutions to often-complex challenges amid profound changes in the 21 st century marketing environment
Good Marketing is no accident
86 % Skip TV ads
44 % Direct mail is never opened
91 % Unsubscribe
200 Millions ...0
50
100
150
200
250Millions
86 % Skip TV ads
44 % Direct mail is never opened
91 % Unsubscribe
200 m Say DO NOT CALL
Choosing a Market
• Only small portion of the population is interested in your product
• You waste time & money by trying to market to everyone
• Identify a niche target market & focus on just them
“You can’t be everything to everyone”
Branding Profiles of major media types
Print - Newspaper
Flexibility; timeliness; good local marketcoverage; broad acceptability; believability
Short life; poor production quality
Television Good mass-market coverage; combines sight, sound, and motion; appealing to the senses
High absolute cost; high clutter; less audience selectivity
Radio Good local acceptance; high geographic and demographic selectivity; low cost
Audio only; low attention (“half heard”); fragmented audiences
Print - Magazine
High geographic and demographic selectivity; credibility and prestige; quality production; long life; good pass-along
high cost; no guarantee of position
Outdoor Flexibility; high repeat exposure; low message competition; good positional selectivity
Little audience selectivity; creative limitations
Online High selectivity; low cost; immediacy; interactive capabilities
demographically skewed audience; audience controls exposure
Medium Advantages Limitations
Strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience and, ultimately, to drive profitable customer action.
www.sme.com.mm
Innovationdistinguishes between a leader and a follower
A wise person is full of QUESTIONS !(ပညာရသည ေ�မးရန ေ�မးခြ�န�းမား ��ပည�ေ�နသ
ည) A dull person is full of ANSWERS !( ဥာဏထ င�းသသည ေ���ဖရန ေ���ဖမား ��ပည�ေ�န
သည)
Soe HeinCEO – SME Business Institute (Sales & Marketing Expert Training)Director- Bagan TradeProfessional Member of American Marketing Association [email protected]@sme.com.mm09 26000 9299# 422, Thein Phyu Road, Mingalar Taung Nyunt Tsp. Yangonwww.sme.com.mm