Welcome to the BMA Boardroom

For November 4th, 2009

Boardroom Behaviour Compliance Checklist

Respect with no talking over your colleagues

No electronic devices

PARTICIPATION is expected always and rewarded often

Grasshopper (Chinese) Leadership Award

改善 Kaizen (Japanese) Improvement Award

HOT TOPICS – ASSIGNMENT is DUE FRIDAY 13th

TODAY and TOMORROW are the ONLY days to work IN-CLASS

AGENDA

Deliverables

Who owes me what

What you need to do today

Review total assessment for unit

Start your checklist rough draft

Define your team roles

UNIT ASSESSMENT

1. Report 0% to 40%

2. Promotional Material 0% to 30%

3. Exit polls 0% to +5%

4. Participation & Boardroom behaviour -10% to +10%

5. Peer Assessment 0% to +5%

6. Twizz 0% to +10%

7. Bonus Marks (deadlines, exit poll quality)

0% to + 3%

UP TO 103%

PRODUCT OUTLINE

Matt Blackmore

Jacob Boutilier

Tyler Denty

Shawn Foster

Ian Lewis

John Murphy

Stephen Peck

Steven Weisman

Brief Product description and which of the 4 ‘P’s you are going to plan in your report

TWIZZES TODAY

Matt Blackmore

Jacob Boutlier

Tyler Denty

Berk Halimoglu

Mark Latter

John Michael Murphy

Mitchell Nieuwenstein

REPORT FORMAT RECAP part 1

Marketing Report which is at least two full pages of 12 pt font with 1” margins and include the

1. Cover Page

2. An Executive summary ( up to 2 paragraphs)

3. Your Target Market – External and Internal Factors

4. Your Marketing Strategies & Budget Breakdown (up to $400,000) – Explain your “P”s

5. Conclusion

-Follow the CHECKLIST

-Make sure your report has these five headings

-The rubric gives you a level of QUALITY to follow

PROMOTIONAL MATERIAL Part 2

Brochure

PowerPoint with graphics, animation and music (mini commercial)

Podcast

Poster

Storyboards or Comic Strip

Prototype or Mock-up

Coupons

Any other ideas you confirm with Ms. Powers

-Follow the CHECKLIST

-Make sure your report has these five headings

-The rubric gives you a level of QUALITY to follow

TOMORROW

80 minutes to work on your assignment

Come prepared

Do your research tonight

Define your roles

Work on your checklist

WRITE THIS DOWN ---

bpowers@staff.ednet.ns.ca

5’PS RECAP

Customer

PRODUCT RECAP

Questions to consider…

Brand Name

Functionality

Quality

Packaging

Warranty, Service, Support

INNOVATION OR IMPROVEMENT?

PROMOTION RECAP

“Above the line” – mass media strategies

Advertising Strategy – e.g. trade journals, TV, radio, newspapers,

“Below the line” -- -Non advertising strategies – an immediate or delayed incentive e.g.. Ring tones for music industry

Direct mail, coupons, sales promotions, BOGOF/BOGO, sponsorships, exhibitions, POS (point of sale), Shelf management positioning

Public Relations

Online and Offline Strategies (e-biz/e-marketing)

Marketing Communications (MARCOM) – overall integrated management process

PROMOTION RECAP

Push or Pull Strategies are designed to move products and services (intangible or tangible goods) through channel(s)

Pushing is aimed at intermediaries to build consumer demand (INDIRECT – the producer does not ‘touch’ the customer)

Utilizes personal selling/sales forces through indirect promotion

Exhibitions, conferences, trade shows

Incentives directed to sales forces

Producer wholesaler retailer consumer

Pulling is aimed at the final consumer (DIRECT – the producer touches the customer)

Utilizes advertising through direct promotion

Incentives directed to the consumer

MARKETING MIX

ABOVE THE LINE

BELOW THE LINE

OFFLINE ONLINE

PUSH

PULL

Your promotional decisions revolve around who you are going to spend your budget based on what you know about your customers behaviours.

This matrix can be a helpful framework. You do NOT need to spend money in every activity. Any combination can occur.

PRICING RECAP

Questions to consider:

Strategy intent –What are you trying to accomplish? skim, penetrate, lost leader Penetrate

Setting lower prices to create a dominant market share

Lost Leader

Trying to gain at least a foothold by giving away profit and establishing some market share as well as offering multiple

Skim

Prices reduce over time

How sensitive are your customers to prices?

PRICING RECAP

Traditional Strategies

Suggested Retail/MSRP

Volume Discounts

Bundling

Seasonal Pricing

PRICING RECAP

One-Price Strategy -- same price for all customers with same quantity, can be rigid, tends to be b2c – e.g. retail outlets for fashion

Price Flexibility – a matrix of adjustments often for b2b – e.g. a sophisticated management of different prices often based on quantity

Price Discrimination -- needs market segmentation and assumes imperfect info, gender pricing – e.g. why do women’s haircuts cost more than men’s?

PLACEMENT

Where do buyers look for your product or service?

If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue?

How can you access the right distribution channels?

Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies?

What do you competitors do, and how can you learn from that and/or differentiate ?

PLACEMENT

With the impact of Digital Marketing, placement has evolved to positioning --- ‘is it top of mind with your customer’

Retail products such as a grocery stores use POS (point of sale) ‘placing’ physical products on specific shelves

Intangible products and services are often digitally marketed where placement is the location of an ad on a web page or a pop-up or a tagged link to the top of a product of goggle search

OPTIMIZING MARKETING MIX

Once you have a well-defined marketing mix, try "testing" the overall offer from the customer's perspective, by asking customer focused questions:

Does it meet their needs? (product)

Will they find it where they shop? (place)

Will they consider it's priced favorably? (price)

And will the marketing communications reach them? (promotion)

RESEARCH RESOURCES

www.fortune.com

www.forbes.com

www.profit.com

www.atlanticbusiness.com

www.ROB.com

www.ft.com

www.wsj.com

www.pmalink.org

www.business2.0.com

www.clickZ.com

www.digitrends.com

www.redherring.com

www.wired.com

http://jimc.medill.northwestern.edu/JIMCWebsite/site.htm