1. The Marketing Game Plan Chapter 6

2. Chapter 6.1 The Game Plan The Game Plan Goals Goals Explain the difference between marketing tactics and strategies. Explain the difference between marketing tactics and strategies. Discuss the importance of planning to stay ahead of the competition. Discuss the importance of planning to stay ahead of the competition.

3. Marketing Tactics  For Nike to be successful it will have to have a tactic that capitalizes on how Nike is different then Adidas rather the how it is the same. Nike wants to be number one in their market. Nike wants to be number one in their market.  What has Nike done or what can they do to be different

4. The word competitive is used to mean that a product or service stands out from the rest and the word mental is used to mean the mind of the consumer. The word competitive is used to mean that a product or service stands out from the rest and the word mental is used to mean the mind of the consumer.

5. Tactics First What is a tactic? What is a tactic? –the way a product or service is differentiated in the minds of customers from other competing products or services the most effective tactics are developed by salespeople the most effective tactics are developed by salespeople –tactics can work their way from salespeople to upper management

6. Successful tactics  What is it that is required to develop a successful tactic?  Extensive knowledge and involvement with customers View v_i_p_e_r_6_0's mapTaken in (See more photos here)more photos here Would you like to comment?

7. The Difference….  What is the difference between a strategy and a tactic? A tactic is the way a product is differentiated, and a strategy is the process by which the tactic is implemented. A tactic is the way a product is differentiated, and a strategy is the process by which the tactic is implemented.

8. Beating the Competition  How do products or services quickly attract competition?  Perform well and sell quickly  UA “Winning the game” in business means gaining market share over competitors and making a profit. “Winning the game” in business means gaining market share over competitors and making a profit.

9. Marketing Intelligence information gathered about competitors information gathered about competitors

10. Pricing –pricing is very important to customers –the prices of competitors can influence buying decisions

11. Distribution –marketers need to make the product purchase convenient for customers

12. Product/Service Management –knowing the product and service offerings of competitors can help a business determine how to differentiate its products

13. Promotional Effects –promotional competitive analysis reveals: the product characteristics emphasized by competitors the product characteristics emphasized by competitors target customers target customers promotional budgets promotional budgets

14. Finding Information It is not always easy to find the information about the competition, but it is extremely important and can help drive marketing plans. It is not always easy to find the information about the competition, but it is extremely important and can help drive marketing plans.

15. Internet –efficient searching leads to effective results company name company name keywords keywords

16. Observations –combining the insights of a variety of salespeople can provide valuable competitive information

17. trade shows –major events where people in a related industry meet to show their products show their products exchange ideas exchange ideas learn about the latest trends learn about the latest trends –valuable source of competitive information –CES

18. Customers –customer feedback is critical for fine tuning marketing plans –can provide competitive information

19. How to Beat Competition 6.1 continued

20. Goal Understand the ways in which companies over come the competition. Understand the ways in which companies over come the competition.

21. SWOT Analysis Can be designed for almost anything Can be designed for almost anything One of the most useful marketing tools. One of the most useful marketing tools.

22. Strengths (Internal) Patents Patents Strong brand Strong brand Cost advantages Cost advantages Good reputation Good reputation

23. Weakness Lack of access to key distribution channels Lack of access to key distribution channels High costs High costs Lack of access to resources Lack of access to resources Poor reputation Poor reputation

24. Opportunities Unfulfilled customer need Unfulfilled customer need New technologies New technologies Loose regulation Loose regulation

25. Threats Negative shift in customer taste Negative shift in customer taste New regulations New regulations Emergence of a substitute product Emergence of a substitute product competitors competitors

26. Arrowhead Lacrosse Inc. Strengths Strengths –Good reputation and relationships in the community –Recognized logo in the lacrosse community –Customer oriented

27. Arrowhead Lacrosse Inc. Weaknesses Weaknesses –Lack of internal control –Inability to find help to expand –Not able to make full time commitment

28. Arrowhead Lacrosse Inc. Opportunities Opportunities –Create a training facility that serves as a home for business operations –Capture a sport and grow with it as it grows within the community –Strengthen the club level teams to improve the image of our brand

29. Arrowhead Lacrosse Inc. Threats Threats –Economy –Competition –Lack of field spaces –Increased cost of operations

30. What would a companies SWOT look like? What would a companies SWOT look like? –Nike –Starbucks

31. Entertainment and Sports Strategies Chapter 6.2

32. Goals Explain the importance of learning from customers. Explain the importance of learning from customers. Discuss sports marketing strategies. Discuss sports marketing strategies.

33. Warm-Up List as many companies as you can that have recently changed their company logo or packaging of a product. List as many companies as you can that have recently changed their company logo or packaging of a product.

34. Information for Decision Making marketing plan marketing plan –a document that describes the tactics and strategies that will be used to market the product or service  Raw Data –the facts and recorded measures that have been gathered

35. Interpretation interpretation interpretation –explaining the information so that it has meaning –drawing conclusions that relate to the defined marketing research problem

36. Applied Research applied research applied research –conducted to solve specific problems touchpoints touchpoints –the points at which the business makes contact with the customers web site visits web site visits e-mails e-mails phone calls phone calls advertisements advertisements one-on-one sales pitches one-on-one sales pitches

37. SPORTS MARKETING STRATEGIES Fans are necessary for the longevity of a team. Fans are necessary for the longevity of a team. –Using research to form the right tactics to attract fans is a challenge for teams.

38. Chapter 6.3 Mapping the Plan

39. Goals Explain how marketers determine direction and focus for a marketing plan. Explain how marketers determine direction and focus for a marketing plan. List and describe the components of a marketing plan. List and describe the components of a marketing plan.

40. Warm-up Have you ever helped plan for an event? Have you ever helped plan for an event? Have you ever been part of something that is poorly planned? Have you ever been part of something that is poorly planned?

41. Know Where You are Headed mission statement mission statement –identifies the nature of the business and the reason it exists All tactics and strategies should be built around the mission statement. All tactics and strategies should be built around the mission statement.

42. Southwest Airlines “The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.” “The mission of Southwest Airlines is dedication to the highest quality of Customer Service delivered with a sense of warmth, friendliness, individual pride, and Company Spirit.”

43. Nike "To bring inspiration and innovation to every athlete in the world." "To bring inspiration and innovation to every athlete in the world."

44. Microsoft "To enable people and businesses throughout the world to realize their full potential." "To enable people and businesses throughout the world to realize their full potential."

45. Amazon "Amazon.com seeks to be the world’s most customer-centric company, where customers can find and discover anything they may want to buy online at a great price." "Amazon.com seeks to be the world’s most customer-centric company, where customers can find and discover anything they may want to buy online at a great price."

46. Ben & Jerry’s To make, distribute & sell the finest quality all natural ice cream & euphoric concoctions with a continued commitment to incorporating wholesome, natural ingredients and promoting business practices that respect the Earth and the Environment. To make, distribute & sell the finest quality all natural ice cream & euphoric concoctions with a continued commitment to incorporating wholesome, natural ingredients and promoting business practices that respect the Earth and the Environment.

47. McDonalds "McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile." "McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile."

48. Direction mass market mass market –a broad group of customers

49. Product Portfolio Product Portfolio –all the products a company has available at any one time Test Market Test Market –where the sales potential for a new product is tried in a small market prior to its final release

50. The Plan The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented. The marketing plan is a detailed document that further provides a detailed description of how the tactics and strategies will be implemented.

51. Analysis The Mission Statement The Mission Statement The marketing plan must be in agreement with the mission statement. The marketing plan must be in agreement with the mission statement. Marketing Information Marketing Information Information is gathered, analyzed, interpreted and used to make business decisions. Information is gathered, analyzed, interpreted and used to make business decisions.

52. Analysis (con’t) The Tactic The Tactic describes product or service differentiation describes product or service differentiation should pinpoint a gap that is not filled by another product or service should pinpoint a gap that is not filled by another product or service

53. Strategy Product/Service Product/Service the identified need is the basis for the development of the product or service the identified need is the basis for the development of the product or service The Distribution System The Distribution System describes how the product or service will be made available to customers describes how the product or service will be made available to customers Pricing Pricing The price must be set where revenues will be maximized to cover all costs and provide a profit. The price must be set where revenues will be maximized to cover all costs and provide a profit.

54. Strategy (con’t) Promotional Strategies Promotional Strategies how the product will be positioned in the minds of customers how the product will be positioned in the minds of customers –advertising –publicity –sales promotion –personal selling

55. Strategy (con’t) Financing Financing disclosure of all expected costs and revenues disclosure of all expected costs and revenues might indicate need for additional funding might indicate need for additional funding Risk Management Risk Management outlines possible risks and strategies for minimizing the risk outlines possible risks and strategies for minimizing the risk

56. Implementation Timeline Timeline start with completion date and plan backwards start with completion date and plan backwards specify event sequencing specify event sequencing Assignment of Responsibility Assignment of Responsibility specify who is responsible for each component of the plan specify who is responsible for each component of the plan

57. Implementation (con’t) Internal Communication System Internal Communication System define how all key organizational members will be kept informed of the plan define how all key organizational members will be kept informed of the plan provide a feedback mechanism provide a feedback mechanism Selling Selling defines how direct sales will be handled defines how direct sales will be handled Review and Evaluation Review and Evaluation define mileposts for progress checks of the plan define mileposts for progress checks of the plan