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Marketing Basics – 2 Guyz On Marketing http://2guyzonmarketing.com What happens when two marketing pros get together and talk marketing and advertising shop! Sun, 28 Jul 2019 00:34:32 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.1 Revisiting Partners (from the 9 P’s of Marketing) http://2guyzonmarketing.com/revisiting-partners-from-the-9-ps-of-marketing/ Sun, 28 Jul 2019 00:34:30 +0000 http://2guyzonmarketing.com/?p=689 The 2 Guyz On Marketing teach and consult that in most cases marketers don’t create customer value and build customer relationships by themselves, or solely by themselves. Most work closely with partners and alliances outside the firm, or even with other company departments (what we call inside partners).

The 2 Guyz know and see the changes which are occurring in how marketers connect with their suppliers, agencies, channel partners and others.  This post in our series is about “Partners,” which may be integral to your company’s success.

In sophisticated Marketing there are more than the four P’s of Marketing. With the nine P’s of Marketing, The 2 Guyz believe that “Partners” and “Alliances” or “Strategic Alliances” are vitally important to the success of a firm’s overall marketing efforts, objectives, strategies and tactics.

“Partners” isn’t one of the original four P’s, but is a distinct and important element under the 9P’s of Marketing.

Can your customers, clients or users tell the difference between you and your competition? What about your alliances and partnerships…are you working with special suppliers, distributors or retailers? Are you working and creating with your advertising agencies and promotional partners, better than your competition?

Most people wouldn’t think of “partners” as a variable and a way to differentiate your product or service. But it can be very impactful.  What advantages or differentiators do these alliances give you?

Let’s look more closely at “Partners,” one of the nine elements or components in the 9 P’s of Marketing:

Partners/Strategic Alliances:

  • Partnership and cooperative agreements are formed that enable parties to bring their major strengths to the table and emerge with better planning, products, services, promotion, presentation, distribution and ideas than they could produce on their own.
  • Having the right partners can “add value” to the partnership in ways a single company or entity might not be able to accomplish.
  • Roles and responsibilities must be clearly communicated, understood and agreed upon. Great work and increased revenue can be the result of great partnerships!

Plenty of examples, on alliances and partnerships.

  • At CES (Consumer Electronics Show) in Las Vegas (January ‘18), Toyota unveiled its e-Palette, a self-driving concept vehicle partnering with Pizza Hut. A vehicle to deliver pizza. Pizza Hut is part of another alliance (mobility services business alliance) that includes Amazon, Mazda, Uber and Didi (Uber’s Chinese rival). “In our ongoing and relentless pursuit to own and define the modern pizza experience, we are focused on technology-based solutions that enable our team members and drivers to deliver even better customer experiences…With Toyota, we are partnering with an undisputed leader in human mobility with a reputation for innovation, reliability and efficiency, as we define the pizza delivery experience of the future.” (Pizza Hut’s Artie Starrs, US president)
  • Did you hear that Walmart and Waymo (Google’s Alphabet) have teamed up in a promotion in Chandler, Arizona, south of Phoenix? Shoppers of Walmart can use a self-driving car to go to their store. Yes, using a self-driving car. All they need to do is use a Waymo car after ordering groceries on Walmart.com. Walmart workers will assemble the consumer’s order (“People”) grocery order as the Waymo cars take customers to and from the grocery pickup.  “…we learn from these programs will give us a network of partners when we launch in new cities down the road,” Waymo said. (Summer 2018)
  • Here’s a Japanese company insight. Honda was always known for its engines, engineering and technical prowess. In the 1960’s their founder Sochio Honda said “We refuse to depend on anyone else.” In 2018 they know that shifts in technology are happening so fast they now need to depend on others, as in partners supplying outside skills to complement their internal knowledge and needs.
  • At AutoNation, the auto dealer and car retail chain are also giving Phoenix-area residents the option to use a Waymo car as a loaner, service car.
  • Sears and Amazon with Alexa: Sears has agreed to sell its Kenmore line on Amazon.com, or is it that Amazon accepted the partnership agreement with Sears? “The launch of Kenmore products on Amazon.com will significantly expand the distribution and availability of the Kenmore brand in the U.S.,” said Sears CEO Lampert. The appliances like air conditioners and others will use and integrate Amazon’s Alexa, which will respond to voice commands.
  • At Dell, now called Dell Technologies, they expanded their “Products,” one of the 9P’s of marketing, after buying EMC, a data storage producer. Dell Technologies is the largest customer of chip maker and manufacturer Intel.

Partnerships can be quite simple, or small scale, but still very effective. For example, a new product may seek a partnership with an established distributor to get a foothold in the market. The distributor, in return, might receive exclusivity of certain products. When the iPhone first emerged, Apple teamed with AT&T, which allowed the phone maker to product high margins, and allowed the carrier to gain marketshare in the highly competitive cellular business.

Your success may be dependent on partners and partnershps, with great people at the right partnerships and strategic alliances.

It is important to partner with firms that have similar corporate philosophies. Continuous support and cooperation with consultation are usually needed. They have agreed upon objectives and strategies. Really have them. Agreed upon objectives, strategies and budgets which are written and signed, by both partners in the alliance.

Success will only come to marketing partnerships where there is a mutually beneficial arrangement.

For that reason, it’s critical to monitor your alliances. Check in frequently with partners. Practice transparency as much as you can.

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Revisiting People (From The 9 P’s of Marketing) http://2guyzonmarketing.com/revisiting-people-from-the-9-ps-of-marketing/ Tue, 23 Jul 2019 16:45:26 +0000 http://2guyzonmarketing.com/?p=685 People, one of the nine elements or components of marketing, is another addition to E. Jerome McCarthy’s original 4P’s of the Marketing Mix. 

For a long time, companies focused on WHAT they sold (Product). Then there was a shift to WHERE they sold (Place). Somewhere during the 1960s and 1970s there was a shift more rigorous attempts to segment and target specific potential customers (People).

It has now become science. We began to study demographics, geographics, psychographics, technographics, and buying behavior as a way of better understanding People. Today it’s even more data drive. For example, we now track and use data on a consumer’s browsing and research behavior, content consumption, transaction history, service inquiries and social network activity which influence segmentation and targeting

Let’s look at “People” more closely.

  • “People” or targeting has almost always been left out of the traditional “Marketing Mix.” Almost every diagram includes the four P’s with Product, Promotion, Place and Price.
  • As a marketing professional or new to the game of marketing, look at new, existing and repeat customers.
  • Assign “consumer, “People” or “potential buyers” in the middle of a circle. Add the other components in the nine P’s. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the “Customer” or “People.”
  • “People” or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P’s of Marketing.
  • Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.

Defining a target market requires market segmentation; the process of segmenting the entire market as a whole and separating it into manageable units based on:

  • Demographics (such as age, family size, family life cycle, gender, income, occupation, education, religion, race, culture, generation, nationality, and social class).
  • Geographics (where your potential buyers are located by street, city, region, nation or global)
  • Psychographics (buyers are on basis of psychological/personality traits, lifecycle, values)
  • Behavioral characteristics (needs and benefits, decision roles, user and usage-related variables, occasions, user status, usage rate buyer-readiness stage, loyalty status, attitude and multiple bases) 
  • Technographics or technographical characteristics. Understand your potential consumer. Remember, in the back of your mind, that the reason technology is phenomenal is because it displaces years, or centuries, of previous technology. Consumers may or may not have the skills. Think employees here too. The reason technology skills are transitory is because they will almost certainly be displaced, too.

Checking to see whether any of these market segments are large enough to support the organization’s product. 

We like using MSADA: The concept on segments. They need to be: Measurable; Substantial; Accessible; Differential/Different; Actionable

Once a target market is chosen, the organization can develop its marketing strategies to target this market.

A couple of examples:

  • A unique example of targeting and reading the data. PayPal looked at segmentation and was finding a segment of their customers who were buying women’s products, men’s products, electronics, haircare product for both sexes plus dresses and tuxedoes. It was a multitude of both men’s and women’s products. From research and planning, they found out that their customers (couples/partners/husbands and wives) were using one ID and password. It was two sexes, one login.
  • A segment of car buyers when they think of Jeep, they think of running wild and free off road and driving on sand dunes. Jeep has targeted behavior and psychological needs of their target segment of Jeep buyers.
  • Facebook shows content to different users based on their preferences and demographics.
  • Snapchat is mostly millennials, really young people and high school and teens.

The 2 Guyz on Marketing say, “Be sure to look at competing FOR the customer more than AGAINST your competition.” 

The more you discover, learn, know, and understand about “your” potential and actual “People” who are buying your product, the more successful in marketing you will be!

For more Marketing insights, ideas, concepts and Marketing solutions: Go to Londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s or Nine P’s/9P’s of Marketing.

*Created by Larry Steven Londre. Copyright 2007.

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Revisiting Presentation (From the 9 P’s of Marketing) http://2guyzonmarketing.com/revisiting-presentation-from-the-9-ps-of-marketing/ Tue, 18 Jun 2019 02:31:51 +0000 http://2guyzonmarketing.com/?p=666 Presentation is one of the important nine P’s of Marketing, and while it may contain branding issues and Promotion, it’s much more than an afterthought. It’s a separate and distinct “P”.

Here’s where the rubber hit the road in marketing. “Presentation” is the act of presenting, displaying and strategically putting forward any of the different 9P’s© and/or its components to your potential customers (or “People,” including suppliers, wholesalers, retailers, sales force, marketing intermediaries, clients, employees, partners, and/or others).

Look at your products and the marketplace. Review your competition. Develop and refine your assets and your strategic marketing objectives, strategies and tactics in the marketplace.

Can your customers, clients or users tell the difference between your product or service and your competition? Do the potential customers know “how it is different” or are they even aware of your product or service? Will they pay a premium?  Stand in line? Would they go out of their way to acquire your product or service?

Why is your product or service better? How is it different? That’s where “presentation” comes in.

Let’s look more closely at “Presentation,” one of the nine elements or components, along with Planning, People, Product, Price, Place, Promotion, Partners, and Passion:

Presentation is linked to “Planning,” plus reviewing and using the other nine P’s. As a marketing professional look at “real” product and service experiences, enabling consumers to feel the brand. As part of “presentation,” we also think of “events and experiences,” (which are also a part of Promotion).

Traditional marketing is based on target audience impressions/ views/ clicks/ exposure, while experimental marketing involves engagment with consumers.

Presentation is closely aligned with “experiential” marketing, or event marketing.

An example of using “Presentation” to your advantage:

  • Some products from Apple are “perceived” to have a better user experience, better designed, a better presentation, which are also talked about by both users and non-users. “people” will stand in line to acquire Apple products. Fast Company reported in July/August 2014 that it’s the engineering culture of the company and the way the whole organization was structured to help support product design. Everyone in the organization is striving and thinking about better designed products for the marketplace…making a better “presentation” of products and services to users and potential users.

Partnering with charities and their efforts may bring in promotional marketing influencers who may be interested in helping communicate your charitable causes and events.

Presentation can be bad, too. In February 2017, bad “presentation” had significant branding and promotional implications with “the official accountant for the Academy Awards,” PriceWaterhouseCoopers (PwC), at the ‘17 Academy Awards live from Hollywood. 

A huge accounting mistake, turned into a brand nightmare, by PwC. Management did not get the correct envelopes to the star presenters, Faye Dunaway and Warren Beatty. The accountancy firm has overseen the counting/votes for the Oscars ballots, 83 years. Called the most “spectacular blunder,” in the history of the Oscar ceremony, when the award for best film was mistakenly presented to “La La Land,” instead of the actual winner, “Moonlight.”

Not using “Donuts” in their name? Dunkin’ Brands tested using just the name Dunkin’ at some units in California. The chain’s promotion has used the one-word name for more than ten years. They are emphasizing the brand’s coffee and beverages.

But some companies get presentation in a deep way. Disney does not have employees at their Disneyland and Disneyworld theme parks, but rather, “cast members”. They are always “on”, and presentation is everything. Disney is concerned with cast members’ hair, makeup, costumes, body language, and ultimately “performance”.

As a brand manager you want to encourage and enable potential consumers and “allow” them to feel and experience your brand, rather than a competitor’s brand and that is where product, promotion, place and presentation are linked.

*Created by Larry Steven Londre. Copyright 2007.

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What Makes A Great Slogan? http://2guyzonmarketing.com/what-makes-a-great-slogan/ Tue, 27 Nov 2018 23:11:42 +0000 http://2guyzonmarketing.com/?p=570 Here’s a quick video with some of our favorite slogans along with a few of the things your company or brand slogans should include!

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9 HOT TOPICS FOR MARKETING CLASSES THIS FALL http://2guyzonmarketing.com/9-hot-topics-for-marketing-classes-this-fall/ Wed, 15 Aug 2018 18:10:50 +0000 http://2guyzonmarketing.com/?p=534 Fall is such a great time to be in school, and that goes for being an instructor as well. The faces are freshly scrubbed, their eyes are wide open, and everyone is eager to learn.

As Marketing instructors, the 2 Guyz On Marketing know we need to teach the basics, but it’s the hot topics that usually spur on the best class discussions. They knew, everyone gets to learn, and they are happening right in front of our eyes.

Teachers know that fall is a more enjoyable semester, for a variety of reasons, starting with it’s the start of the school year and summer has almost gone by.  So, what will marketing students be studying this fall in “M” school? Here’s our picks for the top 10 topics.

Influencer Marketing – While it’s been around for a while, we’re really just learning what works and what doesn’t. Look for meaty discussions in the areas of disclosure and micro influencers.

Privacy and Personalization – On the one hand, ads now follow us around the Internet, trying to sell us stuff we looked at moments before. At the same time, look for increased privacy issues, breaches of security, and ethics discussions. Can be boring but highly relevant now and in the future. Europe has had an impact on U.S. companies, such as Facebook and Google. Seems like breaches are in the news all of the time.

Social Media Advertising – Facebook’s financial and bad publicity woes may shake up ad spending in the social arena. Look for emerging trends as more money flows into Instagram, Snap Chat, and LinkedIn.

Truth (of Lack of) In Advertising – With November elections just around the corner and an era of dishonesty overshadowing politics, look for some crazy political marketing and advertising to hit the media.

Gen Z – They’re here! This year’s freshman class of college will be helping shape the way we perceive this newest age of demographics and psychographics.

Millennials – And they’re not gone…anything but! Millennials are changing as we watch, hitting middle management, starting their families, and maybe “settling down.  Many product and service categories are affected by their numbers and buying influences.  And remember, they’re set to inherit a lot of wealth from the Baby Boom generation.

Big Data, Little Data, Analytics and Metrics – While many students choose marketing, advertising and PR as a way of getting away from math, numbers, and analysis, they’re mistaken. Marketing decisions are increasingly driven by number crunching and predictive analytics.

Content Marketing – Content marketing has been around, but is really coming of age. We are beginning to understand how to better leverage our ability to communicate, engage, and eventually sell through messaging other than just paid advertising.

Technology Meets Experience – Experiential Marketing continues to progress at a feverish pace. Trying clothes or glasses on, building your dream car, visiting a foreign land, it can all be done “virtually.” Look for new technologies to leave the realm of simply “possible” and become the new “practice.”

We will guaranteed another eyes-wide open semester.

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3 Things We Didn’t Learn In School About Marketing http://2guyzonmarketing.com/3-things-we-didnt-learn-in-school-about-marketing/ Thu, 01 Mar 2018 20:26:20 +0000 http://2guyzonmarketing.com/?p=429 Marketing is a fluid discipline. It is always moving and changing.

In accounting, 2+2 is always 4. Engineering follows the laws of Science. Medicine works on measured outcomes.

But marketing is, well, less constant.

Therefore, what’s taught, and what is learned, changes.

There is also an unmeasurable factor in marketing. It’s the hunch, the gut feel. Malcom Gladwell would suggest a marketer achieves a high state of ability at somewhere around 10,000 hours of experience, and the 2 Guyz agree with that.

Hunches, gut feel, marketing and promotional intuition are hard to teach, which is why they don’t usually end up in marketing textbooks.  And the textbooks get even more outdated.  But it doesn’t mean they are any less important.

Here are three things we, as the 2 Guyz On Marketing, have learned over time that no one textbooks ever taught us.

1)  “Not Marketing” is NEVER a good long term strategy.  Marketing means a lot of different strategies and tactics, but not promoting is never good. Not doing research on what is driving your customers to you is never a good tactic.

“We don’t do marketing, clients and customers come to us.” Work in marketing for a short time and you begin to hear this. It’s something that maybe once was true, but not anymore. Business moves too fast. Customers have too much buying power, information, and voice.

Back in 2010, digging out of the great recession, an executive said to us, “We never gave marketing much thought. Business came to us. But never again will I make that mistake. Thank goodness our line of credit got us through this drought of business. From here on out, we will actively market.”

Sure, there are times to pull back. There are times to regroup, restrategize, and reorganize. But just like falling off a bicycle, you need to get back on and start pedaling. Don’t mistake momentary pause with lack of effort.

A wise man once said in business, “If you’re not going forward, you are going backward.”

2)  Customers have wants and needs. Wants are almost always more powerful than needs.

Natural marketers learn this early. Needs are about necessity, specification, and features. Wants are about desires, emotion, and benefits.

Advertising and marketing communications that appeal to emotion is almost always more powerful (and successful) than appealing to needs.  Appeals at the right time delivers sales. Makes the cash register ring.

We teach that features about a product of service offering, whereas benefits are about what the product or service offering does for the customer.

Kids in school need tennis shoes for gym class. They WANT $200 Nikes. Women need a purse, but they might want the $1100 Louis Vuitton. Men might need a car, but many of them want a big truck, a BMW, or a Porsche.

3)  Sex sells.

We don’t love this, but we have to admit it works quite often.

Car marketing uses it. Beer and alcohol producers use it. Fashion uses it. Heck, just about every category uses it.  GoDaddy created a brand by blatantly using sex in advertising.

But it is not without baggage.

Sex in marketing can be short-term in success. Brands often find backlash with customer groups, media, and partners.  GoDaddy has moved away from it. Way away.

In most cases, it’s “borrowed interest”, a form of bait and switch communication. It’s using something else to get attention, not your product itself.

These are just three of the many things marketers pick up on the “street”.  It’s also part of what makes marketing so interesting!

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Passing Of The Generational Torch. It’s Coming. http://2guyzonmarketing.com/passing-of-the-generational-torch-its-coming/ Fri, 23 Feb 2018 02:08:40 +0000 http://2guyzonmarketing.com/?p=423 As marketers, we study targeting (“people, under the 9P’s,”) target markets and “target audiences.”

Target markets is a marketing term and target audiences is a media term. Think buyers and consumers of media as a differentiator.

One of the most common ways to segment markets and audiences is by generations. We all know the Baby Boomers, Gen X, and Millennials. Those coming of age now are the “Digital Natives,” aka “Gen Z.”

While the marketing world is worrying about what to call the next generation, they are thrusting themselves onto the scene. Millennials are about 21ish to late 30-something. Digital Natives are right behind.

Generational segmenting is good for marketers because we have learned people within a given generation tend to share many traits and behaviors, making it easy for us to target them with appropriate products and services.

Millennials have dominated conversation in recent years, in large part to both their size as a generation (the largest our country has ever seen) as well their habits, some endearing, some not. We’ve seen the proliferation of take-out, delivery and avocado toast.

Well, the Millennials better look out, because the Digital Natives are making their presence be known! Since the most recent school shooting tragedy in Florida, mainstream news has been covered with images of young people protesting the government’s lack of government response to calls for gun control.

What’s interesting is that this group or segment has largely come to the fore since Donald Trump was elected president, emerging in part at last year’s Women’s March. Now they are the lead story in papers and the evening news.

Millennials have not been politically charged or motivated. In fact, according to Pew Research, less than have voted in the last election (compared with nearly 70% of Baby Boomers voting in the last election).

Digital Natives, named for being the first generation to go from cradle to grave with smart phones, computers and the Internet, will not be bigger than the Millennial generation, but they may be more vocal. They are already more vocal than Gen X has ever been.

The last generation to be this vocal as they came of age: Baby boomers. The 2 Guyz are not always vocal but we surely are observant of change.

What will this mean for consumer behavior and purchase habits? The 2 Guyz don’t know yet, but we will definitely be watching!

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Marketing Mistake #37 – Hidden Contact http://2guyzonmarketing.com/marketing-mistake-37-hidden-contact/ Wed, 13 Dec 2017 22:36:49 +0000 http://2guyzonmarketing.com/?p=364 You go through the time and effort to research the market, buying potential. You segment it, then choose a segment to target. You position your product, to appeal to that segment. You create an advertisement, a commercial, a billboard, or a mailer, and highlight not just features, but real benefits. And you launch your campaign.

But the phone doesn’t ring.

This is story the 2 Guyz On Marketing hear from small brands all too often. As consultants, we’re often called in to perform “marketing triage,” assessing damage and recommending “real” marketing medicine.

There are lots of things that can go wrong, but there is one that just drives us crazy. Hidden contact info.

2 Guyz Brian just got a direct mail piece for a gym and unique training service that was a jumbo-sized mailer. It was 4-color, glossy, well put together. Someone took the time to do photography, graphic design, copywriting, and then distributing.

Too bad they didn’t take the time to put contact information. The truth is, they did, but it was buried, and we mean buried. If a marketing professional/professor/consultant can’t find it easily with two readings of the card, it’s buried. The 2 Guyz Londre loves the expression “You can’t make the cash register ring, if they can’t find you.”

No physical address of the company. No website. In small print, buried in copy on the back was a local phone number.

In today’s fast-paced marketing world, you have a few seconds, at best, to get attention. There is a ton of competition for each potential customer dollar.

And if the customer has any interest, he or she will likely move to the next step, which in the Internet world is “clicking.” In traditional marketing and advertising, it’s “getting more information,” which is usually done by reading more, or going to a website.

For retail, the address isn’t just important, it is mission critical! Phone, email, and website just lend more accessibility and credibility.

A mentor of 2 Guyz Brian once said, “Give the customer lots of reasons and lots of ways of responding to our ads.”

Listen to good radio spots, and the repeat addresses, phone numbers, and websites over and over.

If a product or service is hard to find, there are lots of other options out there.

A marketing opportunity lost is a sad thing. A true waste.

 

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Part 3 of 9: PRODUCT – from the 9 P’s of Marketing* http://2guyzonmarketing.com/part-3-of-9-product-from-the-9-ps-of-marketing/ Wed, 01 Nov 2017 23:55:46 +0000 http://2guyzonmarketing.com/?p=330 Marketing efforts often start with “Planning” or solving a “People” problem and continue with new product development, with a Product, a product line or a service. Or it could be both, a product and a service, when you may have both with delivery or installation.

As a quick example, Domino’s differentiated itself and its pizza from all of the pizza companies by first promising to deliver in under 30-minutes.

In sophisticated Marketing there are more than the four P’s of Marketing. The 2 Guyz on Marketing teach and consult that “Product” and Services are vitally important to the success of a firm’s overall marketing efforts, objectives, strategies and tactics. The element “Product” is under both the 4P’s and 9P’s of Marketing.

Product is the goods and service combination the firm offers to the target market, including variety of product mix, features, branding, designs, packaging, sizes, services, maintenance contracts, warranties and return policies. “Product” may include packaging, as a subset of the total offering. Brand managers use packaging as a badge, enhancing the product’s value. In 2008, McDonald’s scrapped and changed its package design across 118 countries, 56 languages. Packaging can increase the perceptions about the quality of the product.

The 2 Guyz On Marketing use the nine P’s of Marketing which contain several valuable concepts, elements, terms and useful definitions to help explain, find problems and aid in the understanding of Marketing and related activities, including Marketing objectives, strategies and tactics.

Can your customers, clients or users tell the difference between your product and services versus your competition?

Let’s look more closely at “Product,” one of the nine elements or components:

  • A product (service) is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. (Kotler)
    • Look at branding; brand equity; brand name; quality; unique selling proposition (USP or U.S.P.) and unique value proposition (USP); newness; complexity; physical appearance; packaging; labeling; ingredients; maintenance and service contracts; and others.
    • A product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed or sold through the same types of outlets, or fall within given price ranges. The major product line decision involves product line length (the number of items in the product line. A company’s product mix has four important dimensions: width (number of different product lines), length (number of items a company carries within the product lines), depth (number of versions offered for each product in the line), and consistency (how closely related the various product lines are in end use, production requirements, distribution channels, or in any other way).
  • A service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. (Kotler)

Have you ever thought how you asked a question to a consumer who has purchased your product? The right words, questions and/or phrasing can make a big difference, especially for new products. The question should be about getting valuable product feedback.

Much more strategic thinking from the 2 Guyz On Marketing.

  • A Product or service also should have Purpose, which is discovering the product’s real value, use, difference, reason, or function for the consumer and user. In comparing the quality of a service consumers can relate it to their expectations and the experience with other services.
  • Some examples:
    • Target’s using 3D modeling: They can take an idea from a sketch to a prototype in a matter of days. After receiving a sketch from the designer or engineer, they can create a detailed CAD model of the product then feed it into one of their 3D printers. What results is a physical representation of what the designer envisioned. Target claimed at the time that they were the only retailer with rapid-prototyping capabilities.
    • Under entertainment, gaming, broadcast, media and related to advertising and “product,” we can watch what we want to watch when we want to watch it anywhere, any screen.

Your success may be dependent on a great product but there is so much more, with great targeting or your “People” in the marketplace, at the right partnerships and strategic alliances.

For more Marketing insights, ideas, concepts and Marketing solutions: Go to Londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s or Nine P’s/9P’s of Marketing.

*Created by Larry Steven Londre. Copyright 2007.

 

 

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Part 2 of 9: PEOPLE – from the 9 P’s of Marketing http://2guyzonmarketing.com/part-2-of-9-people-from-the-9-ps-of-marketing/ Wed, 25 Oct 2017 21:50:35 +0000 http://2guyzonmarketing.com/?p=307 NOTE: This is the 2nd in a special 9 part series on Larry Steven Londre’s 9 P’s of Marketing.

“People,” one of the nine elements or components of marketing, is another addition to E. Jerome McCarthy’s original 4 P’s of the Marketing Mix. Let’s look at it more closely.

  • People
    • “People” or targeting has almost always been left out of the traditional “Marketing Mix.” Almost every diagram includes the four P’s with Product, Promotion, Place and Price.
    • As a marketing professional or new to the game of marketing, look at new, existing and repeat customers.
    • Assign “consumer, “People” or “potential buyers” in the middle of a circle. Add the other components in the nine P’s. In Marketing, from my education, training, research and analysis plus testimony, there needs to be greater focus on the “Customer” or “People.”
    • “People” or market segments may utilize demographics, geographics, psychographics, behavioral characteristics and technographics, which may be a vital component or components of the 9P’s of Marketing.
    • Once a target market is chosen, the organization can develop its marketing strategies to target this market segment.
    • Defining a target market requires market segmentation; the process of segmenting the entire market as a whole and separating it into manageable units based on:
  • Demographics
  • Geographics
  • Psychographics
  • Behavior
  • Technographics or technographical characteristics. Understand your potential consumer. Remember, in the back of your mind, that the reason technology is phenomenal is because it displaces years, or centuries, of previous technology. Consumers may or may not have the skills. Think employees here too. The reason technology skills are transitory is because they will almost certainly be displaced, too.
    • Simply it’s about Segmentation and Targeting. Add Positioning and you have STP, as a major first step.

A couple of examples:

      • A unique example of targeting and reading the data. PayPal looks at segmentation and was finding a segment of their customers who were buying women’s products, men’s products, electronics, haircare product for both sexes plus dresses and tuxedoes. It was a multitude of both men’s and women’s products. From research and planning, they found out that their customers (couples/partners/husbands and wives) were using one ID and password. It was two sexes, one log in.
      • A segment of car buyers when they think of Jeep they think of running wild and free off road and driving on sand dunes. Jeep has targeted behavior and psychological needs of their target segment of Jeep buyers.
      • Facebook shows content to different users based on their preferences and demographics.
      • In early 2017, Snapchat is mostly millennials, really young people and high school and teens.

The 2 Guyz on Marketing say, “Be sure to look at competing FOR the customer more than AGAINST your competition.” The more you discover, learn, know, and understand about the people who are buying (or would potentially buy) your product, the more successful in marketing you will be!

For more Marketing insights, ideas, concepts and Marketing solutions: Go to Londremarketing.com and look under “Articles and Resources” and the 9P’s/Nine P’s ©2007. Specifically you will find them detailed at 9P’s/Nine P’s or Nine P’s/9P’s of Marketing.

*Created by Larry Steven Londre. Copyright 2007.

 

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