Market Me: How to Market Your Idea … Your Brand … and Yourself!

Copyright © 2019 Paul D. Barchitta.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the author except in the case of brief quotations embodied in critical articles and reviews.

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ISBN: 978-1-5320-7458-5 (sc)

ISBN: 978-1-5320-7532-2 (hc)

ISBN: 978-1-5320-7459-2 (e)

Library of Congress Control Number: 2019942701

iUniverse rev. date: 06/13/2019

Contents

Dedication

About the Author

Introduction

Section 1   The Marketing Environment: Be Aware Of What Surrounds You

Chapter 1   The Four P’s of Marketing

Marketing Mix

Chapter 2   Who is Your Customer?

Demographics

Demographic Variables:

Age

Gender

Income

Location

Markets

Geographical Segmentation

Traditional Household

Demographic Conclusions

Chapter 3   Think Like The Customer

Diffusion Of Innovation

Consumer Decision Making Process

Want Versus Need

Need Recognition

Information Search

Evaluation Of Alternatives

Purchase

Post-Purchase Behavior

Buying Center

Initiator

Users

Influencers

Buyers

Deciders

Gatekeepers

Chapter 4   The Myth and Manipulation of Analytics

Marketing Research

Quantitative Marketing Research Versus Qualitative Marketing Research

Table Of Quantitative Research Methods Vs. Qualitative Research Methods

Chapter 5   The Party Is Over

Ethical Behavior And Social Responsibility

Strategic Giving

Entertaining Customers

Section 2   Why Your Product Drives The Bus

Chapter 6   No Product No Sale

Product Life Cycle

Idea Stage

Introduction

Growth

Maturity

Decline

Market Share Versus Market Growth Matrix

Question Marks (Problem Child)

Star

Cash Cow

Dogs

The Importance Of New Products: The New Product Development Process

Idea Generation

Idea Screening

Business Analysis

Development

Test Marketing

Commercialization

Chapter 7   A Brand Is a Tattoo

Levels Of Brand Intensity

Brand Awareness

Brand Preference

Brand Insistence

Master Brand

Product Mix Width Versus Product Line Depth

Product Line Extension

Cannibalization

Packaging & Labeling

Positioning

Market Share

Section 3   How Do You Get The Word Out?

Chapter 8   Delivering The Message

Promotional Mix

Television

Impact Of Gambling On Ratings

Loss Leader

Radio

Outdoor

Print

Internet

Chapter 9   The Life of a Salesperson

Personal Selling

The Importance Of Selling

Traditional Transaction Selling Approach

Difference Between Relationship Selling And Relationship Marketing

Shift From Transaction Selling To Relationship Selling

Summary Of The Differences Between Relationship Selling Versus Transaction Selling

Steps In The Selling Process: The Importance Of Moving Your Business Forward

Prospecting

Approach

Presentation And Demonstration

Handling Objections

Closing The Sale

Follow-Up

Chapter 10   Incentive and Image

Sales Promotion

Sampling

Public Relations And Publicity

Social Media

Section 4   Where Oh Where Do I Get My Products?

Chapter 11   How Place Has Morphed Into Distribution

Channels Of Distribution

Manufacturer

Wholesaler / Distributor

Retailer

End User

Distribution And Technology

Supply Chain Management

Just-In-Time (JIT)

Electronic Data Interchange (EDI)

Levels Of Distribution Intensity

Distribution

Exclusive Distribution

Selective Distribution

Intensive Distribution

Push Versus Pull Strategy

Chapter 12   What Happened to The Five And Dime?

Retail Marketing

A Life In Retail

The Death Of Mom And Pop

Non-Store Retailing

Section 5   The World Is A Smaller Place

Chapter 13   The Importance of Developing a Global Vision

Global Marketing

Local

Regional

National

Global

Multi-National Corporation

Transnational Corporation

Reasons For Globalization

Technology

Trade Agreements

Emerging Markets

Need For Growth

Cultural Differences

Licensing

Contract Manufacturing

Joint Venture

Direct Foreign Investment

T.C. Chen

Marketing Conclusions

About Barchitta Consulting Inc.

Endnotes

Dedication

L ife is about doing something with the opportunities that you have been given. This book is dedicated to my brother Michael Christopher Barchitta who never had the chances or opportunities in his life that were given to me.

This one is for you Bro!

About the Author

P aul D. Barchitta is a Tenured Professor in the Maritime Transportation/Business Department at the United States Merchant Marine Academy, located in Kings Point, NY. The U.S. Merchant Marine Academy is one of five Federal Service Academies including, West Point (Army), Annapolis (Navy), Air Force, Coast Guard, and Merchant Marine.

Prior to accepting this appointment, he was as a tenured faculty member for The City University of New York (CUNY) at Queensborough Community College. He has been a Professor at the following institutions in their respective Marketing/Business Administration Departments; SUNY College@ Old Westbury, Nassau Community College, Stockton College, Brooklyn College, LaGuardia Community College, Parsons School of Design, Wagner College, and St. John’s University. He has also traveled to Taiwan on behalf of the American Education and Cultural Foundation to teach Marketing and Management.

He has a Post-Graduate, Advanced Certificate (30 Credits above an MBA) from a Doctoral program at NYU, in Corporate Training & Development. He has an M.B.A. in Marketing, and a B.S. in Finance from St. John’s University.

He has over twenty five years of sales experience in the Medical Device and Healthcare/Hospital industry. He has been a Field Sales Trainer and has sold a wide variety of medical products. Some of the product lines that he has sold are surgical stockings and lymphedema pumps that are prescribed for patients suffering from vascular disease, deep vein thrombosis equipment that prevents blood clots in patients during and post-surgery. Other lines have included general surgical instruments, spinal instruments, endoscopic, and laparoscopic instruments that are used in the operating room during surgery. Patient controlled anesthesia pumps that regulate the amount of pain medication that a patient receives after surgery, and syringe pumps that are used to deliver small, precise doses of medication to premature infants. He has been a President’s Club Winner for sales quota achievement for three major, global, medical device manufacturer’s including Johnson and Johnson’s Surgical Instrument Division, Smith’s Medical’s Infusion Division, and Beiersdorf-Jobst’s Vascular Division.

He is the author of A Salesman Walks Into A Classroom…The Art of Sales Meets The Science of Selling.

Introduction

I asked a professor for some career advice one day, career advice about becoming a professor. He said, You are interested in this racket, I mean profession? That perked my interest. How could a racket be a profession? When you love what you do and it does not feel like work, you have found your passion, your racket.

By my mid-twenties the light went off in my head that I wanted to teach at the university level. Being a college professor seemed like a cool job. I remember the day of illumination. I was giving a sales presentation (lecture) to a group of medical students at a medical school. This was common practice in the medical device industry, to indoctrinate young doctors on the features and benefits of your products that can help them treat their patients. It was a three hour sales presentation on vascular disease, effecting the circulation of the blood in your legs. There was some anatomy and physiology content along with my products being the solution to these described vascular disorders. It was more than a sales presentation, it was a lecture at a major university, in a lecture hall as the backdrop for my presentation. That was it. The light went off. That was the day I found my calling. Teaching at the university level. There was only one problem. Other than my day as a guest lecturer, I had no formal teaching experience or teacher training, let alone any credentials qualifying me for this occupation. I took the necessary credentialing steps and went back to graduate school to pursue my career as a professor. By the time I was ready to graduate I solicited the one hundred and fifteen colleges and universities in the New York Metropolitan area about my availability to teach at their institutions.

My angle was to teach sales classes in their respective business departments. Who was more qualified to teach classes in sales than a salesperson? Ask a marketing professor when was the last time they sold anything? Silence was a common response. I got hired to teach at two institutions a week after I completed graduate school. As a matter of fact I cashed my first check as a professor before completing my graduate degree, filling in as a substitute professor. I have not looked back since then. That was in 1996. The part-time, adjunct professor sales classes led to full time teaching, and I have been a full time tenured professor at TWO major universities in this country since the beginning of the new millennium. It has been a cool job!

The sales classes led to teaching other Marketing electives including the basic, introductory Marketing course taught at every academic institution of higher education in this country, known as Marketing 101.

While contemplating the idea about the writing of a book, a few thoughts went through my head. I had already published a book on sales, so what is next? It was an easy decision. I love Marketing! I am Marketing! I love to observe what I refer to as Brilliant Marketing, whether it is an innovative commercial on television, a catchy jingle on the radio, a billboard that catches your eye, or the way that a salesperson conducts a sales presentation. I salute Brilliant Marketing and make notations about it throughout this book. What constitutes Brilliant Marketing? To quote the professor who explained why the profession is a racket, when he was asked what is the most effective form of Marketing his response was, The one that works! Brilliant Marketing is the one that works!

The umbrella of Marketing is so vast and so misunderstood that it needs an explanation. I need to chronicle Marketing from my perspective, from my point of view. That is the goal of this book, to explain the basic core concepts of what Marketing is and what it is not. To emphasize the importance of Marketing in your overall business strategy and to debunk the myth that all Marketing is deceptive, misleading and unethical.

There are a myriad Marketing topics addressed in this book that can serve as a blueprint for success from defining who is your customer, when and why they adopt your innovation, to the decision making process that the customer goes through. Who gets involved in the purchasing decision, what data is collected to help make the decision, and how to fight the stigma associated with unethical marketing practices are all discussed. Why taking a snapshot of your product offerings, why new products are the lifeblood of an organization, and the importance of developing a brand are examined as well.

Dissecting the methods of how products are promoted, from why advertising is a mentality to the effectiveness of the relationship that a salesperson can have with a customer to techniques that are devised to give the customer an incentive to buy the product now are reviewed. How to spin and manipulate a message, the utilization of Social Media, and how the distribution of products has evolved along with the importance of developing a global vision is argued.

My strength in the classroom is my ability to connect the Theory of Marketing with the practical aspects of Marketing in the real world. That is what my classroom lectures are all about. Marketing is such a broad topic that it is impossible to devote a justifiable amount of classroom lecture time to cover all of the aspects of Marketing, even in a Marketing 101 course. While designing my Marketing 101 course I scoured the dozens of marketing textbooks used at universities throughout this country and came up with a course curriculum and syllabus that addresses the basic foundation and building blocks that anchor a Marketing Strategy. For a topic to make it into my lectures there must be real world applications, content and theory that is not only described in a Marketing textbook but followed through, referenced and practiced every day in the real world. This book is a compilation of my Marketing 101 lectures supplemented with some of my real world Marketing adventures. Enjoy!

Marketing Is Awareness

On the first day of a Marketing 101 class I pose a few questions to my students. Why are you taking this course? What do you think this class is all about? What is your perception of Marketing? How would you define Marketing? I am amazed at the responses, some say advertising, commercials, and selling but no one ever responds with, Marketing is Awareness! I ask them to have an open mind and give me the opportunity over the next few months to change their perceptions of what they think Marketing is all about. On the last day of every class it is common for students to say, I had no idea of what Marketing is all about. That is what I am asking you to do as you read this book, to place your previous preconceptions about Marketing to the side and look at Marketing through a different prism or different lens and with a different perspective.

If I was asked to define Marketing with one word and only one word I would use the word Awareness. Every product starts out as an idea in someone’s head, the idea is brought to a drawing board, and the process of the Product Life Cycle begins. At this point the idea is still a secret, yet nobody knows about it. You can convert the idea into a product, but the market, which is out there in the real world, has no idea that this is the greatest idea since sliced bread. This idea can be conceived in a basement, garage, an attic, or a sophisticated new product development laboratory. It does not matter, it is still a secret and the market needs to know about this fantastic invention or innovation. How do you do this? How do you let the world know about this gadget, widget or discovery? How do you make the market aware of this gadget, widget or discovery? That is the core of what Marketing is all about. Raising awareness. There are multiple formats that can get your message out there, and that is what Marketing is all about. Finding the right Mix to get the message out to a targeted audience who might have an interest in your next gadget, widget or discovery, is the fundamental purpose of this book. To expose the reader to the various methods, techniques and theories that will convert your invention, innovation or idea into a success.

The marketing department of a company is exploding with growth and opportunity. There was a time when the marketing department was not as significant as it is today, marketing was more of an afterthought. Marketing departments were diminutive, marketing budgets were scant. Companies were bottom line focused on manufacturing and finance. Oh, has that changed! Today, it is common to replace organizations with that type of strategy and direction with a strategy and direction that leads with a slant toward marketing.

SECTION 1

The Marketing Environment: Be Aware Of What Surrounds You

This section provides an overview of the Marketing Ecosystem

Chapter 1

The Four P’s of Marketing

Marketing Mix

T he Marketing Mix, commonly referred to as the, 4 P’s of Marketing is where it all begins. Edmund James McCarthy was a Marketing professor and author. McCarthy proposed the theory of the 4 P’s Marketing Mix in his 1960 book, Basic Marketing: A Managerial Approach, which has been one of the major textbook publications utilized in marketing courses at universities since its publication. Not only has McCarthy’s theory been studied at the university level for more than fifty years, corporations have implemented his theory and woven it into their overall Marketing strategy for decades. The Marketing Mix paradigm, in its famous version of the 4 P’s, went all the way through the evolution of marketing theory being the object of discussion both in academic literature and managerial practice. It’s a fact that the 4P’s is a milestone of marketing theory. McCarthy’s Marketing Mix has been widely adopted through time by managers and academics, becoming a key element of marketing theory and practice (Dominici, 2009). ¹

Most marketing textbooks introduce the concept of the Marketing Mix, at the end of chapter one and sometimes in chapter two. I do not agree with that. Once marketing has been defined as Awareness, the next topic to discuss is the Marketing Mix. It has to. It has to be discussed because everything in marketing starts with the Marketing Mix. Everything in marketing somehow always brings you back to the Marketing Mix. Every element of marketing is somehow a derivative, or component of the Marketing Mix.

My first eye opening exposure, or the raising of my awareness of what the Marketing Mix was, occurred between my junior and senior year of college. I was a Finance major on the other side of the business spectrum with finance and accounting on one side and sales and marketing on the other. Marketing as a career, was nowhere on my radar. I had to take a Marketing 101 course to fill a graduation requirement. The professor was relentless about the concept of the 4 P’s of marketing and beat it daily into our heads. I never got it out of my head. Product, Price, Promotion and Place.

When I run into people and they ask me, What do you do for a living? I respond with, I am a Professor. The next question I always get is, What do you teach? I say, I am a Marketing Professor. A common retort is, Oh, I remember that class, the 4 P’s of Marketing.

The Marketing Mix is the combination, or mix if you will, of all of the components that entail the marketing of a product. The four P’s include Product, Price, Promotion and Place, (McCarthy, 1960).²

A Product is what you offer to the marketplace. Price is what you have to give up, or sacrifice to obtain or acquire the product. Promotion means how you alert, or get the word out about your product to the market. Place is defined as where and how do you obtain the product.

Is there an order to the 4 P’s, is one more important than the other? That is what the mix is all about. Discovering what IS the correct Marketing Mix for your products is the challenge. The 4 P’s can be juggled, shifted, emphasized and deemphasized.

Product is the most inflexible of the 4 P’s. Making product modifications and product improvements cannot be done at the snap of a finger. Altering manufacturing specifications cannot be done overnight. Price is the most flexible of the 4 P’s and you can snap your fingers and adjust your price on the spot. Changing the direction of your promotion and place strategies can be accomplished but fall somewhere between the strains associated with making a change to your product and the ease of dropping your price on the spot.

While there can be some variability among the importance of the 4 P’s, if I was asked, If you had one advantage in the marketplace over your competitors, meaning if you could have a competitive advantage at one P, which one would you choose?

It is a Hands-Down response. Give me the first P Product all day every day. When you have product advantages over your competition you have a substantial advantage over the competitive offering. When you have product advantages the first P leads the way, drives the bus, and can pave the way towards success. I say this from being on every side of the competitive selling spectrum. The other three P’s follow suit when your competitive advantage begins with your product.

I have been through the ringer of the Marketing Mix where my competitive advantage was not the first P product and I would trade that advantage over any of the other P’s.

This does follow the traditional model of the Marketing Mix that was put in place in the early 1960s. Build the great product, the market will come to you. Exclusive distribution, where there were one or two retailers in a geographical area was the order of the day. Hunting and searching for the celebrated solution to your problem (product) was the norm. There is nothing wrong with that belief, strategy or practice, it worked. Today other factors have entered the conversation. There was an initial, huge gap between product and the other 3 P’s, regardless of the significance or the order of the importance of the other 3 P’s.

Today that gap has been closed. Competitive offerings or alternatives have flooded the marketplace and have closed the gap between product and the other 3 P’s. Customers have choice. You are not the only game in town. While exclusive distribution still exists, the paradigm has been shifted to intensive distribution. Intensive distribution means as many outlets and avenues where a customer can solve their problem (product) as possible. This has opened the door for other elements of the mix to elevate their position and close the gap between product and the other 3 P’s.

Price is now a factor. The question of How Much now has to be considered because the customer does have choice. It might not be an exact match, but the competitive advantage can be close enough to raise the curiosity of the customer to see what their alternatives are. Have you ever looked at a product and the first question that you ask is, How much? as opposed to, What can this product do to help solve my problem? That is a price question and the flooding of the market with competitive alternatives has contributed to the closing of the gap between product and price.

Promotion, or the vehicle in which you deliver your message, has now emerged as a major factor in the marketing of your product. In the previous model, word of mouth was the primary form of promotion. If you had a superior solution (product) to a customer’s problem, eventually the word would get out and around about your product and ultimately the customer would end up at your doorstep. What proves to me that the gap between product and promotion has been narrowed are industries and occupations that never relied on promotion as part of their strategy have now joined the promotion game. Doctors and lawyers hardly ever advertised their services. If you were the best doctor or lawyer in town, the word got out that you were the best, and you would have a line of patients or clients out the door. In fact, in the previous model if you did engage in any form of promotion it was looked upon as a negative. If you were a doctor or lawyer that utilized promotion there was a stigma associated with this, that you were soliciting business. You were not good enough to generate enough business through word of mouth, so you needed to revert to promotion. Today the promotion of a healthcare or law practice has become an integral part of the success of that practice. The same goes for hospitals and universities. Today it is fashionable for these institutions to tout that they have the best nurses in town or that they are ranked as a top academic institution.

Place represented the most significant gap away from Product. In the traditional model Place was necessary but not significant. If the customer wanted the product they would search and find their solution (product). Place was the outlet where the product was purchased. This P has grown in importance in the new model more than any other of the 3 P’s. Place has grown so much that in many marketing textbooks the word Place has been replaced by the word Distribution.

The optimal situation is when you have competitive advantages in all of the 4 P’s. I am not saying that this is rare, but I am saying that is difficult to achieve this position in the marketplace. An example would be a fast-food franchise that displays on their marquee that they have billions served. Any time that you have mass produced and sold over a billion units of a product you have Product advantages. When the price point of your product can be advertised as a dollar menu you are going to attract a noteworthy audience giving you Price advantages. When your tag line or slogan, I’m loving it! rolls off your tongue and is embedded into your memory you develop Promotion advantages. When you have retail outlets in every community in this country, and thousands of retail outlets globally, in close to one hundred countries, you have conquered the fourth P Place as well. This is how you become one of the most profitable franchises in American history, by having competitive advantages in all of the 4 P’s.

What if you do not have all of these advantages? Most companies and most products do not. This has contributed to the development of the other 3 P’s. Some have an