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Chapter 11

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by

beth carroll

on 5 April 2016

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Transcript of Chapter 11

Unintended




Top watched
http://www.visiblemeasures.com/adage
Viral Marketing
Search engine optimization
Social media marketing
Email marketing
Referral marketing
Content marketing
Search engine marketing
Pay per click
Cost per impression
Search analytics
Web analytics
Display advertisingContextual advertising
Behavioral targeting
Affiliate marketingCost per action
Revenue sharing
Mobile advertising
11-*
Internet Marketing
Pros: ?


Cons:?

WOM
Newspaper
Television
Radio
Magazines
Billboards
Direct Mail
WOM

Traditional Advertising Methods
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http://smallbizbee.com/index/2009/01/30/10-ways-to-market-your-business-when-broke/
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The four P’s applied
Genericide
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Brand Awareness

Brand recognition

Brand loyalty

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Logos
Where’s the beef?
They’re g-r-r-r-eat
Think Small
Eat Fresh
Made from the best stuff on earth
But I like it, too!
Like a Rock
Because I’m worth it!
Betcha can’t eat just one
Plop Plop Fizz Fizz
Your in good hands
Like a good Neighbor
Zoomzoom
Silly Rabbit
The few the proud
He likes it-hey Mikey!
http://www.taglineguru.com/sloganlist.html

Tagline Do’s and Don’ts:

1. Do focus on the benefit to the customer.
2. Don’t repeat any of the words in your company’s name.
3. Do spend time with a thesaurus.
4. Don’t use more than 7 words (human short term memory limit).
5. Do use short words.
6. Don’t use well-worn phrases.
7. Do ask your potential customers what they think of your tagline.
Get it stuck in consumers heads

The market chosen must be sufficiently attractive



( have enough customers to financially support your business idea).
Target Market
3-*
Selecting a Target Market

Who are our customers?

How will we let them know we exist?
How will we appeal to them?

A well-managed start-up approaches this query by Selecting a customer segment and Establishing a unique position
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Important Questions That All Startups Must Ask:
What is the best way to reach your customer to let them know you exist?
How to sell Soap

















http://www.youtube.com/watch?v=TnzFRV1LwIo
Guerilla Marketing?
O

One of the most cost-effective ways to increase the awareness of the products of a company is through public relations.

Public relations refer to efforts to establish and maintain a company’s image with the public.

The major difference between public relations and advertising is that public relations is not paid for—directly

It’s FREE!
Public Relations


Social media marketing programs
center on efforts to create content that attracts attention and encourages readers to share it with their social networks
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The new WOM
A high percentage of people may not be interested .
Message clutter.
Relative costliness compared to other forms of promotion.
Intrusiveness.
Distrust
Raise customer awareness of a product.
Explain a product’s comparative features and benefits.
Create associations between a product and a certain lifestyle.

Cons
Pros
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Pluses and Minuses of Advertising
Advertising is making people aware of a product or service in hopes of persuading them to buy it.
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Advertising/Promotion
Price


The price a company charges for its products sends an important message to its target market.
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Price
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Establishing a Brand

A brand communicates your value proposition or positive attributes of your company,

such as trustworthy, dependable, or easy to deal with.

The customer loyalty a company creates through its brand is one of its most valuable assets.
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Establishing a Brand
Establish a “position” within the market that differentiates you from your rivals.

A firm establishes a unique
position in its customers’ minds
by drawing attention to
two or
three of the product’s attributes.


vs




vs
Positioning
3-*
Establishing a Unique Position
11-*
Copyright ©2012 Pearson Education, Inc. publishing as Prentice Hall
The Process of Selecting a Target Market and Positioning Strategy
Once they know you exist:

How do you get them to buy your product/service for the first time? And then again?
The list price is determined by estimating what consumers are willing to pay for a product.
The list price is determined by adding a markup percentage to a product’s cost.
Value-Based Pricing
Cost-Based Pricing
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Core Product vs. Actual Product
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How does a firm establish a brand?

a firm must have meaning in its customers’ lives. It must create value.

brands are built through advertising, public relations, sponsorships, support of social causes, and good performance.

A firm’s name, logo, Web site design, Facebook page, tweets. and even its letterhead are part of its brand and should convey the same message and appeal to their customer.
Positioning (continued)

Firms often develop a “tagline” to reinforce the position they have staked out in their market, or a phrase that is used consistently in a company’s literature and thus becomes associated with the company.
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Establishing a Unique Position
2 of 2
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Copyright ©2012 Pearson Education, Inc. publishing as Prentice Hall
Unique Marketing Issues
Bruce R. Barringer
R. Duane Ireland
Chapter 11
A low-budget approach to marketing that relies on ingenuity, cleverness, and surprise
Encourages people to pass along a marketing message about a particular product or service.
Guerrilla Marketing
Viral Marketing
11-*
Other Promotions Techniques
News conference
Blogging
Media coverage
Civic, social, and community
involvement
Monthly newsletter
Articles in industry
press and periodicals
Press release
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Public Relations Techniques
Place
Promotion
Price
Product
Marketing Mix
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The Four Ps of Marketing for New Ventures
Good Branding direction?
http://www.bootstrappingblog.com/15-more-guerrilla-marketing-examples/
New Methods:

Website
Blogs
FB
Twitter
Pinterest
instagram
youtube
Snapchat
...........................

http://www.inta.org/INTABulletin/Pages/PracticalTipsonAvoidingGenericide.aspx
https://www.google.com/search?q=corporate+logos+with+hidden+messages&tbm=isch&tbo=u&source=univ&sa=X&ei=IAGVU8TlMZCHyAStnoKADQ&ved=0CB8QsAQ&biw=1078&bih=685&dpr=0.95

Customers respond to posts
with an Image that makes
them feel a positve emotion







http://advertising.about.com/od/history/tp/10-Funny-Banned-TV-Ads-That-Could-Have-Aired.htm?utm_term=television%20ads&utm_content=p1-main-5-title&utm_medium=sem&utm_source=msn&utm_campaign=adid-815e620f-ca3e-47c1-9972-5ff18f5746ac-0-ab_msb_ocode-31684&ad=semD&an=msn_s&am=broad&q=television%20ads&dqi=&o=31684&l=sem&qsrc=999&askid=815e620f-ca3e-47c1-9972-5ff18f5746ac-0-ab_msb

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