MARKETING 101

Why do we need marketing?

WHAT IS MARKETING?

Marketing is defined as:

The act of buying or selling in a market. The total of activities involved in the transfer of goods from the producer or seller to the consumer or buyer, including advertising, shipping, storing, and selling.

WHY IS MARKETING IMPORTANT?

What happens to a product/service when there is no marketing?

NOTHING

IM THROWING A PARTY!

Imagine you are throwing a party and you dont invite anyone, what happens?

No one shows up!

TYPES OF MARKETING

Online Offline Word Of Mouth

TYPES OF MARKETING

Online Marketing:
Thanks to companies like Google and Overture, you can place ads for your company right along side the big guns at competitive prices. Never before has it been easier to market your business than it is right now. Online video ads are easy and cheap to shoot and give you the kind of exposure that was previously limited to expensive national television campaigns.

With low production costs and reasonable pricing, you can run an online video campaign at a fraction of the cost of traditional advertising.
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TYPES OF MARKETING

Offline Marketing:
The benefits of traditional marketing cannot be overlooked in our digital age. Many companies are reaping the benefits of combining online and offline marketing techniques.

For example, you can use direct mail or local advertising to drive potential customers to your site. This is a great and proven combination that results in increased traffic and better conversions.

You can actually save money on print campaigns by relying on your website to do the actual selling while the print ad can function as a pointer.

You'll save money using less words while building brand awareness.
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Radio ads are still a proven way to increase awareness of your company.

TYPES OF MARKETING

Word of Mouth Marketing (Viral):

Word of mouth is still one of the most powerful forms of advertising on the planet.
The best word of mouth comes from satisfied customers. Go the extra mile for them, and really work towards building relationships with your customers. This will result not only in more leads but they'll keep coming back to you in the future.

Try running special promotions or coupons for these regular customers to help them feel that they are special and you'll really be able to continue to build on these relationships in the future.
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MARKETING CHANNELS

Distribution Channels: Direct/Indirect Distribution vehicles: Traditional Media Direct response Public Relations Online & E-Commerce

MARKETING CHANNELS

Distribution Channel:

A vehicle used by the company to sell its products and services to it customer base. Can be either direct or indirect:
Direct: meaning the company interacts with customers directly Indirect: meaning intermediaries perform activities on behalf of the company to reach customers.

A marketing strategy is when a company chooses which channel(s) the company wants to use to market itself. The main distribution channels consist of:

Traditional Media Direct Response Public Relations Internet & E-Commerce

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TYPES OF DISTRIBUTION CHANNELS

IN MARKETING

Traditional Media
Traditional media is a common distribution channel that businesses use to generate awareness about their products and services. Traditional media outlets include TV, radio, billboard advertising, magazines and newspapers.

Because the cost of using these channels tends to be high, it's harder for small businesses just starting out to take advantage of them; however, local markets often have small, independent newspapers or community television stations that offer lower cost advertising options.

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TYPES OF DISTRIBUTION CHANNELS IN

MARKETING

Direct Response
Direct response marketing is another type of distribution channel. Direct response includes a variety of communications vehicles such as postcards, sales letters, email marketing and television direct response infomercials. When you use direct response marketing, it's important to have a call-to-action.

For instance, infomercials often start by showcasing a common problem, then illustrating how the product or service solves that problem. Direct response marketing can be an affordable way for companies to reach potential customers.

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TYPES OF DISTRIBUTION CHANNELS IN

MARKETING

Public Relations

Public relations is a broad distribution channel. Today, PR involves pitching stories to media outlets and generating positive buzz about your company or brand, as well as managing your company's online presence and how your company interacts with its customers.
For example, if a customer writes a negative review of your business online, your PR team might have a standard way of responding. The purpose of PR is to make people feel good about purchasing your products or services.

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TYPES OF DISTRIBUTION CHANNELS IN

MARKETING

Internet and E-Commerce

While all the other distribution channels listed work in conjunction with the Internet -- for example, using social media as a part of a PR campaign -- there is a separate set of tools that can be used as a distribution channel that is purely made up of online activities. Internet marketing includes search engine optimization, affiliate marketing and online advertising.

Search engine optimization, or SEO, involves tailoring your website and its content so when users search online for products and services similar to what your company provides, your website shows up at the top of the search results. Affiliate marketing and online advertising allow you to promote your brand on other websites with content that would be of interest to your customers.

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SUCCESSFUL MARKETING TECHNIQUES

Setting Marketing Goals Create a Call to Action Achieving an Objective (Closing)

CREATING A CALL FOR ACTION

There are a broad range of vehicles that create a call to action in the target group.
The key to triggering a response is the relevance of the message to each particular executive. A message that resonates with one executive may not strike a chord with any others because they aren't thinking about that particular issue at the time. This means successful approaches to senior executives, initiated by a marketer, whether direct or via a medium or vehicle, are probably largely a matter of luck.

As a marketer, how can you reduce the risk of being unlucky? How can you add a level of skill and ingenuity to outweigh the level of luck?
By targeting executives with a particular mindset or problem at a particular time, for example, at a conference dealing with the issues to which they may be seeking and you may be offering a solution. Or by selectively approaching executives whose businesses you have researched, or whom may have responded to some research that tells you they have an existing (perhaps hidden) need for your product or service.

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WHAT ARE YOU TRYING TO ACHIEVE:

Marketing Goal(s):

What is it you are trying to accomplish (Objective)?

Ex) Increase revenue, Increase participation, reach an audience Marketing goals need to be measured to determine effectiveness

Marketing Strategy:

How are you going to achieve your goal/objective?

Do you have a plan? What action leads to the reaction you want How do I reach my audience? What tactics, distribution channels or vehicles will help me achieve my goal

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WHAT ARE YOU TRYING TO ACHIEVE:

Target Market:

Who are you reaching out to?

Who is your deal customer? Who is going to help you reach your goal?

Marketing Timeline:

When do you need to reach your goal by?

Create a sense of urgency

Market Focus:

Where should you concentrate your efforts to reap the most success

What group will be most prone to your product/service

Market Penetration/Share

Why do I need to meet my goals?

To make money $$$

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GOAL OF MARKETING IS TO ACHIEVE AN OBJECTIVE (CLOSE)

Are you a Closer?

1. 2. 3. 4. 5.

Know Your Product Know Your Customer Ask Your Customer About Their Needs Create a Sense of Urgency Have a Call to Action (Close)

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TYPES OF MARKETING TECHNIQUES

WHAT ARE THE DIFFERENT TYPES OF MARKETING TECHNIQUES

Ambush marketing or Parasitic Marketing

A promotion tactic designed to associate a company, product, or service with a particular event, or to attract the attention of people attending the event, without payment being made for an official sponsorship. For example, a business affiliates itself with a particular athlete or sports team rather than paying to become an official Olympics sponsor. Successful ambush marketing diminishes the value of an official sponsorship. Also called parasitic marketing. There have been a few events in the history which explain ambush marketing to the core.

1984 Olympics; Kodak sponsors TV broadcasts of the Games as well as the US track team despite Fujifilm being the official sponsor. 1992 Summer Olympics ; in Barcelona; Nike sponsors press conferences with the US basketball team despite Reebok being the official sponsor. During ceremonies, the players covered their Reebok logos. 1996 Cricket World Cup; Pepsi ran a series of advertisements titled nothing official about it targeting the official sponsor Coca Cola. 2000 Sydney Olympics; Quantas Airlines slogan The Spirit of Australia sounds strikingly similar to the Games slogan Share the Spirit. despite Ansett Air being the official sponsor

There is no better place for this kind of marketing then a big sporting event the sporting organizations are curbing there rules so that this type of promotions can be restricted, though its damn sure that whenever these brands get a chance they would make the most out of it.
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WHAT ARE THE DIFFERENT TYPES OF MARKETING TECHNIQUES

Cause Marketing or Cause-Related Marketing

Altruism. Corporate responsibility. Philanthropy. These are often used to describe cause-related marketing-when businesses join with charities or causes to market an image, product, or service for mutual benefit. One of the best examples of a cause-related marketing campaign was initiated in 1979 by Rosica, Mulhern & Associates for Famous Amos cookies. In this campaign, Wally Amos became the National Spokesperson for the Literacy Volunteers of America. According to the organization, Wally has alerted more people to the illiteracy problem than any other person in history. This strategic cause-marketing tie-in helped to tell the Famous Amos Cookie story while maintaining visibility and is responsible for many new and expanded literacy programs. This case study is now used in university classrooms nationwide as an example of successful cause-related marketing. Do you still think that whether this really has an impact on companys net profit, check these out :

Coca-Cola: In 1997, Coca-Cola donated 15 cents to Mothers Against Drunk Driving for every case of Coca-Cola bought during a 6-week promotion in more than 400 Wal-Mart stores. Coke sales in these stores increased 490% during the promotion. American Express: In 1983, after American Express pledged to donate a penny to the restoration of the Statue of Liberty for every transaction made by its cardholders, use of American Express cards increased by 28% and new users increased by 17%. McDonalds: In 1994, McDonalds sold a CD featuring Garth Brooks, Elton John, and Tina Turner to raise funds for the Ronald McDonald House Charities. In addition to raising $9 million for the cause, the promotion increased restaurant sales by 5%. Visa: In 1997, Visa ran a campaign with the childhood literacy organization Reading Is Fundamental, basing the size of the contribution to the nonprofit on the number of Visa transactions during November and December. Compared to the same period in 1996, Visa sales increased 17% during the promotion. Due to its win-win effect and the ability to get people consistently rate the company more highly in the categories of trust, endorsement, bonding, and innovation, Its going to move on and on.

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WHAT ARE THE DIFFERENT TYPES OF MARKETING TECHNIQUES

Direct Marketing
It is a sub-discipline and type of marketing. There are two main definitional characteristics which distinguish it from other types of marketing.
The first is that it attempts to send its messages directly to consumers, without the use of intervening media. This involves commercial communication (direct mail, e-mail, telemarketing) with consumers or businesses, usually unsolicited. The second characteristic is that it is focused on driving a specific call-to-action. This aspect of direct marketing involves an emphasis on trackable, measurable positive (but not negative) responses from consumers (known simply as response in the industry) regardless of medium. Below are the most known forms of direct marketing Direct Mail The most common form of direct marketing is direct mail, sometimes called junk mail, used by advertisers who send paper mail to all postal customers in an area or to all customers on a list. Telemarketing The second most common form of direct marketing is telemarketing, in which marketers contact consumers by phone. Rather unpopular form in UK and US as people try to get away from it. Email Marketing This is better then telemarketing in some aspects but as the illegitimate spam emails have increased, it has made it difficult for the companies to reach there probables due to filtrations being used these days. Door to Door Leaflet Marketing These services are used extensively by the fast food industries, and many other business focusing on a local catchment Business to consumer business model, similar to direct mail marketing, this method is targeted purely by area. Television Marketing Direct marketing on TV (commonly referred to as DR-TV) has two basic forms: long form (usually half-hour or hour-long segments that explain a product in detail and are commonly referred to as infomercials) and short form which refers to typical 0:30 second or 0:60 second commercials that ask viewers for an immediate response (typically to call a phone number on screen or go to a website). There are several other forms of direct marketing which are being used these days but the above 5 have been the most prevalent. Though there are many critics for this form of marketing but it still remains one of the best result driven forms.

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