1. Building a Powerful Marketing Plan
This fishing lure manufacturer I know had all these flashy green and purple lures. I asked, ‘Do fish take these?’ ‘Charlie,’ he said, ‘I don’t sell these lures to fish!’…Charles Munger

2. Guerilla Marketing Pinpoint the specific target markets
Determine customer needs and wants
Analyze firm’s competitive advantage and build marketing strategy around that
Create marketing mix that meets customers’ needs and wants

3. Definition of Marketing
The process of creating and delivering desired goods and services to customers; involves all of the activities associated with winning and retaining loyal customers.
Guerilla marketing: unconventional, low-cost, creative marketing designed to give small businesses an edge over their larger, richer, more powerful rivals.

4. Pinpointing the Target Market
Target market: the specific group of customers at whom a company aims to sell its goods and services Demographic Growth Rate to 2050 Asians: 212.9% Hispanic: 187.9% Black: 71.3% White: 7.4%

5. Market Research
The vehicle for gathering the information that serves as the foundation for the marketing plan; it involves systematically collecting, analyzing, and interpreting data pertaining to a company’s market, customers, and competitors.

6. How to Conduct Market Research
Step 1: Define the Objective Step 2: Collect the Data Step 3: Analyze and Interpret the Data Step 4: Draw conclusions and act!

7. Primary Research Customer surveys and questionnaires Focus groups
Daily transactions
Other ideas

8. Secondary Research Business directories Direct mail lists
Demographic data
Census data
Forecasts
Market research
Articles
Local data
World Wide Web

9. Tips from Faith Popcorn
Read as many current publications as possible
Watch the top 10 TV shows
See the top 10 movies
Talk to at least 150 customers a year about what they are buying and why (make that 365)
Talk with 10 of the smartest people you know
Listen to children

10. Individualized Marketing
Individualized (one-to-one) marketing: a system based on gathering data on individual customers and developing a marketing program designed to appeal specifically to their needs, tastes and preferences
Data Mining:
Geographic
Demographic
psychographic
See Figure 8.2, p. 274

11. Customer Relationship Management
Connect and collect
Learn
Build relationships
Sell, Service, Delight
Analyze

12. 4 Levels of Customer Sensitivity
Customer Awareness
Customer Sensitivity
Customer Alignment
Customer Partnership

13. Guerilla Marketing Principles
Find a niche and fill it – guerilla tactics
Don’t just sell, entertain - entertailing
Strive to be unique
Connect on an emotional level - USP
Create an identity through branding
Start a blog
Focus on the customer - CEM
Devotion to quality - TQM
Attention to convenience
Concentration on innovation
Dedication to service and customer satisfaction – Customer Delight
Emphasis on Speed - TCM

14. Guerilla Marketing Tactics
Organize community-oriented project
Sponsor memorable events
Look out for new niches
Speak at many occasions
Ask for referrals
Sell at every opportunity
Develop sales script (elevator speech)
Offer gift certificates
Create samples
Offer 100% money-back guaranty
Create ‘Frequent Buyer’ program
Clip articles and send reprints
Code coupons on ads
Create tip sheets
Create an award
Conduct a contest
Collect testimonials
Get a journalist to write about you
Find unique ways to thank customers
Show an interest in customer needs
Give a freebie occasionally
Create a newsletter
Cooperate with other businesses
Use competitor’s coupons against them
Market uniqueness

15. Unique Selling Proposition
A unique customer benefit of a product/service that sets it apart from competition; answers the critical question every customer asks: ‘What’s in it for me?’
Intangible or psychological benefit – save them time or money, improve their self-esteem, make their lives better, make them feel better
while at the same time protecting the environment

16. Superior Customer Service
Hire for attitude, train for skills
Train employees to provide excellent customer service
Treat employees the way you want them to treat customers
Empower employees to take care of your customers
“Wow” your customers with service
Listen…and learn from your customers
Pay attention to the details
Instill a service attitude into the company culture
Use technology (where appropriate) to improve customer service

17. Branding
Antes
Features that are important but all competitors have them
Neutrals
Features that are irrelevant to customers
Drivers
Features that are both important to customers and are highly differentiated
Fool’s Gold
Features that are unique but do not drive customer loyalty R E L V A N C
DIFFERENTIATION

18. Focus on the Customer 67% stop buying because of poor treatment
96% never complain about poor service
91% will not buy again
100% of unhappy customers will tell 9 others
13% of unhappy customers will tell 20 others

19. Principles of Customer Experience Management
Intimate understanding of each customer’s needs and wants
Personal, customized messages in marketing, sales, service, and advertising
Consistent, courteous, and professional treatment by everyone in the company
Responsive, rapid handling of requests, questions, problems and complaints
Helpful information and advice delivered proactively, where appropriate
Involvement of caring, well-trained people rather than strict reliance on technology for service delivery
Long-term view of the company/customer relationship rather than on ‘making a sale’
Emphasis on sustaining an ongoing relationship built on trust and respect
Frequent and visible demonstrations of commitment to nurturing the company/customer relationship

20. Strategies for Developing and Retaining Customers
Identify best customers and make them return
When you have a dissatisfied customer, fix the problem fast
Make sure your systems make it easy to buy from you
Encourage customer complaints
Contact lost customers-find out why they left
Ask employees for feedback
Get total commitment from employees
Allow managers to wait on customers
Carefully select and train everyone
Develop a service theme that communicates your attitude
Reward employees ‘caught’ providing excellent service
Call customers by name
Remember: the customer pays the bills. Special treatment wins customers and keeps them coming back.

21. Total Quality Management
Build quality into processes
Foster teamwork
Establish long-term ties with suppliers
Train mangers and employees
Empower workers at all levels
Get managers to commit to total quality
Rethink processes
Be willing to make changes
Reward employees for quality work
Develop company-wide strategy for continuous improvement

22. Convenience Is your business located near your customers?
Are your business hours suitable to them?
Would customers appreciate pickup and delivery service?
Is it easy to pay with credit cards?
Are you handling transactions quickly, efficiently and politely?
Do you offer extras to make their lives easier?
Can you bundle services to make it easier?
Can you adapt products to make them convenient?
Do you handle telephone calls quickly and efficiently?

23. Customer Service-Delight Them
Listen to customers
Define superior service
Set standards and measure performance
Examine your company’s service cycle
Hire the right employees
Train the employees
Empower the employees
Treat employees as you would customers
Use technology
Reward superior service
Get top manager’s support
View customer service as an investment

24. Delight the
Customer!

25. Time Compression Management
Speeding new products to market
Shortening customer response time in manufacturing and delivery
Reducing the administrative time to fill an order

26. The Marketing Mix
roduct
lace
rice
romotion P

27. Product Life Cycle

28. Place

29. Promotion
marketing
sales

30. Sales Forecasting
Now that you have described your products, services, customers, markets, and marketing plans in detail, it’s time to attach some numbers to your plan. Use a sales forecast spreadsheet to prepare a month-by-month projection. The forecast should be based on your historical sales, the marketing strategies that you have just described, your market research, and industry data, if available.
You may want to do two forecasts: 1) a "best guess", which is what you really expect, and 2) a "worst case" low estimate that you are confident you can reach no matter what happens.
Remember to keep notes on your research and your assumptions as you build this sales forecast and all subsequent spreadsheets in the plan. This is critical if you are going to present it to funding sources.

31. Sales Forecast (12 Months)
Enter your Company Name here
Fiscal Year Begins
Jun-05
Jul-05
Aug-05
Sep-05
Oct-05
Cat 1 units sold
Sale unit
Cat 1 TOTAL
Cat 2 units sold
Cat 2 TOTAL
Cat 3 units sold
Cat 3 TOTAL

32. Market research - Why? How?. Marketing Expense Budget
Marketing Plan
Market research - Why? How?.
Economics
Product
Customers
Competition
Niche
Strategy
Promotion
Promotional Budget
Pricing
Sales Forecast
Marketing Expense Budget
Niche .
Strategy
Promotion
Promotional Budget
Pricing
Niche .
Strategy
Promotion
Promotional Budget
Pricing
Niche .
Strategy
Promotion
Promotional Budget
Pricing .