MARKETING AND SALES TIPS for Start-Ups and Product Launches Hosted - - PowerPoint PPT Presentation

MARKETING AND SALES TIPS

for Start-Ups and Product Launches

Norma A. Mendoza, Ph.D. President MerKadoTeknia Research and Consulting LLC Hosted by

OUTLINE

• Defining Marketing Goals and Sales Objectives
• Defining And Reaching Your Target Market
• Mapping Strategy to Achieve Goals
• Reaching Your Target Market
• Evaluating Your Strategy – The Feedback Loop
• Worksheet – Self Evaluation
• Concluding Thoughts, Q&A

DEFINING MARKETING GOALS AND SALES OBJECTIVES

Customer orientation

Determine target market’s needs and wants – satisfy needs and wants more efficiently and effectively than the competition

DOES YOUR PRODUCT SERVICE SOLVE A PROBLEM? (Be it perceived or real)

DEFINING AND REACHING YOUR TARGET MARKET

WHO ARE YOU TRYING TO SELL TO? Who needs your solution?

Map their consumer decision making process

• 1) PROBLEM/NEED RECOGNITION
• 2) SEARCH FOR INFORMATION
• 3) EVALUATION OF ALTERNATIVES
• 4) CHOICE
• 5) POST-CHOICE EVALUATION

THIS IS THE STARTING POINT FOR YOUR STRATEGIC PLANNING

MARKETING RESEARCH

Should guide 12-18 months of decisions

• Consumer behavior patterns, demand – Primary data
• Competition
• Industry trends
• Legal developments
• Sourcing- stability of prices

5

Secondary data

IT NEEDS TO BE PART OF YOUR OPERATING BUDGET

MAPPING A STRATEGY TO ACHIEVE GOALS

AWARENESS PREFERENCE TRIAL REPEAT SALES LOYALTY

• Each of the above requires a different

strategic approach – MARKETING MIX

• Requires long-term planning

MARKETING MIX

7

BRANDING, POSITIONING AND DIFFERENTIATION

Brand equity is the sum of consumers’ perceptions and feelings about:

• A products’ attributes and how they perform
• A brand name and what it stands for
• The company associated with the brand

Positioning desired perception of your product/service when seen against competitors Differentiation Unique Selling Proposition consumers’ perception versus reality

REACHING YOUR TARGET MARKET

• Traditional Media planning
• Resource allocation based on objectives
• 12-month schedule minimum
• Marketing 2.0 - Social media and guerilla

marketing

• Low-cost but time consuming
• Planning and scheduling
• Content is KING – engage!
• Requires a clear brand image – single voice
• The role of a sales team

EVALUATING YOUR STRATEGY – THE FEEDBACK LOOP

The ROI of marketing efforts

• Evaluation should be based on initial objectives

Pre- and post analysis Levels of analyses

• Short-term
• Long-term
• Product-specific, region specific, market

specific

Resource allocation based on outcome

CUSTOMER FEEDBACK

• Customer satisfaction surveys
• Gap analysis of expectations versus experience
• Mystery shoppers
• Customer complaint analysis
• Analysis of customer defections

ONGOING PROCESS

• MONTHLY
• QUARTERLY
• YEARLY

Worksheet

• Complete based on your own situation
• Start up
• Product launch
• Existing business
• What areas were you able to answer

confidently?

• What areas were you struggling with?

WHAT’S NEXT?

Q & A

nmendoza@merkaconsulting.com info@merkaconsulting.com www.merkaconsulting.com @Merkaconsulting