TRENDS IN MARKETING According to a survey of U.S. Senior Executives, marketing will be the most important area of expertise for the next generation of leaders Be a leader

35% of your business idea will be scored on the effectiveness of your marketing strategy BUSINESS PLAN COMPETITION

MARKETING STRATEGY & EXECUTION It is most likely marketing that will determine the level of success any business will have.

BUSINESS PLAN Goal #1 Effectively convey Proof of Concept Based on your great idea, business model, strategy and industry knowledge

PROOF OF CONCEPT SALES

How do you effectively convey your passion and story, and have the judges’ believe that this is something that will sell? BUILDING A CASE WITH THE UNKNOWN

WHAT IS MARKETING? Exchange Relationship VALUE Buyer Seller

Perception Reality MARKETING FUNDAMENTAL

PERCEPTIONS OF QUALITY 1. Semantics (the words used to create meaning and conviction) 2. Statistics/validated market assumptions (validation of industry research/understanding) 3. Use of illustrations/graphs/visuals (provide reinforcement to explanations) 4. Packaging (the overall appearance of the plan)

A SOLID MARKETING PLAN Will influence your reader to buy-in to your concept WITHOUT having to question who, what, where, when, why and HOW?

Be Different If you aren’t perceived any different than your competitors, consumers can only evaluate you by comparing prices. POSITIONING IF THE ONLY VALUE IS PRICE, YOU BECOME A COMMODITY

Have you clearly identified the market need/problem that you are solving? Have you created value in the product/service you are selling? Have you clearly stated your target market and their buying behavior/characteristics? Do you really know all of the competitors (direct and indirect) in the industry DEMONSTRATE MARKET KNOWLEDGE

Are you aware of the barriers to entry Do you understand all of the market forces impacting the industry? Have you assessed the industry characteristics? Do you really know the market size? DEMONSTRATE MARKET KNOWLEDGE BEING FAMILIAR WITH THE INDUSTRY IS CRITICAL

RECOGNIZE MARKET FORCES Competition (direct and indirect) Economic forces Legal/political forces Technological forces Socio-demographic forces Event forces What you can NOT control

The Marketing Mix ProductsPrice Promotion Place POSITIONING & target market What you can control Market forces, industry characteristics, and your target market will help determine the structure and strategy of the 4 P’s

MARKETING STRATEGY A plan of action developed around your company’s positioning, resources, capabilities, target market and market forces that exist in the industry. –Set realistic goals –Build in measurable milestones –Ensure strategy is in alignment with financial goals

DETERMINE MARKETING TACTICS Sponsorships Press releases Events Website Newsletters Thank you cards Education/product tips thru podcasts, website, blog Free product trials Tradeshows Speaking engagements Networking blasts Joint venture partnering Social networks Advertisements Direct mail

Don’t be afraid to ask other individuals for input and feedback

Billy Bob Teeth $40 million in sales to date