E mpowering I magination A pplying K nowledge E xploring I nnovations T omorrow S eizing O pportunities A ccelerating B usiness I nspiring I nnovations E mpowering I magination A pplying Knowledge Explore S eizing O pportunities A ccelerating B usiness I nspiring T omorrow E mpowering I magination A pplying K nowledge E xploring Innovation T omorrow S eizing O pportunities A ccelerating Business I nspiring T Market Penetration

The Four P’s of Marketing:  Product: the “total” product offered to customers  Place: the distribution strategy  Price: the dollars exchanged for the product/service  Promotion: the communication of the product/service to the potential customers

Market Penetration Product:  Actual product or service offered  Total product may include:  Service  Support  Information  Safety  Warranties

Market Penetration Place:  Channel of Distribution: Manufacturer - Wholesaler - Retailer - Consumer  Physical Distribution  Warehousing/Storage  Shipping

Market Penetration Promotion  Advertising  Personal Selling  Sales Promotion  Publicity

Market Penetration  Media Advertising  Radio  Newspaper  TV  Fliers/Handbills  Trade Shows  Signs  Stationery and Business Cards  Yellow Pages  Coupons

Market Penetration  Direct Sales Force  Distributors  Manufacture Reps or Sales Agents  Direct Mail  Licensing

Market Penetration Advertising and Promotion  Place the message before the decision maker!  Get their attention!

Market Penetration Advertising and Promotion  Inform  Persuade  Remind  Influence

Market Penetration Advertising and Promotion  Sales Volume  Awareness  Image  Brand Recognition  Reaching Inaccessible Buyers

Market Penetration Advertising and Promotion  Repetition  Spread the wealth  Hit your target market  Focus on the primary motive  Make it believable  Make impact measurable

Market Penetration Guerilla Marketing Seven steps to creative marketing: 1. Find the drama within your offering 2. Transfer the drama into a meaningful benefit 3. State benefits in a believable manner 4. Get people’s attention 5. Motivate your audience to get involved 6. Communicate the message clearly 7. Measure the finished product against your strategy

Market Penetration Guerilla Marketing Eleven important marketing secrets: 1. Commitment to the program 2. Marketing is an investment 3. Program should be consistent 4. Build confidence in your firm 5. Be patient with your program 6. Marketing is an assortment of weapons 7. Profits come after the sale 8. Convenience to the customer 9. Element of amazement in your marketing 10. Measure the effectiveness 11. Involve you and your customers

Market Penetration  Identify each strategy  Describe specific plan for each medium  Discuss target markets, and customers for each strategy  Be able to measure impact