what is marketing? DEFINITION: Marketing consists of strategies and tactics used to identify, create and maintain satisfying relationships with customers that result in value for both the customer and the marketer (or company). In other words… The right product, at the right place, at the right time, at the right price. PRODUCT PLACE PROMOTION PRICE (PEOPLE)
Where should we be? What locations are ready for this type of product? What is the market like in this location? What should we offer? What kind of services should we have? What kind of expectations will our guests have of our product? (place) (product) How much should we charge? What are our competitors charging? What rates are our customers expecting to pay? (price) …in practice. (promotion) How, when & what should we tell everyone? Where are people looking for information about our products? What can we offer them to encourage them to pick us over our competition?
…in practice. (people) Who should we tell? Who is interested in this product? What do we know about them? What are their needs? Where are they from? What are their other interests? How do they make decisions?
what is the difference between sales and marketing? MARKETING SALES generate leads & prospects convert leads & prospects Everything you do to reach and persuade prospects Everything you do to turn a prospect into a customer step 1 step 2 Both are crucial to the success of any business.
the funnel COMMITMENT (purchase) EVALUATIONINTERESTAWARENESS MARKETING SALES referral repeat
roles & responsibilities ItemOwnerResponsibilities (o)ResourcesResponsibilities (r) TradeshowsDOM Strategy, research, logistics, budget, communications plan DOSStrategy, logistics Promo ItemsDOM Strategy, research, logistics, budget DOSStrategy, feedback Networking Events DOSStrategy, budgetDOMStrategy, collateral Grand OpeningsDOM Strategy, logistics, budget, communications plan DOSStrategy, logistics Sales BlitzesDOSStrategy, logistics, budgetDOM Strategy, communications plan CollateralDOM Strategy, research, logistics, budget DOSStrategy, feedback Lead Generation DOMStrategy, research, budgetDOSBudget, feedback Market Research DOM Strategy, research, budget, internal communications DOS, GMsStrategy, feedback Specials & Packages DOM Strategy, research, communications plan DOS, DORM, GMs Strategy, logistics, feedback
mission & goal With passion, accuracy and excellence, the marketing department will seek to understand and anticipate the needs of each our customers in order to position DKN products and services to meet these needs and exceed their expectations. Our goal is to sustain profitability and grow DKN’s market share by promoting and informing our markets of DKN’s products and services using channels that yield the greatest return on our investment.