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On a scale of 1 to 3 (3 = highest), How much is this a challenge to your company? Distrust of business
Globalization
Stage 4/7/12
Distinguish between:
Recession Disruption Turbulence Larger reserves Shared investments Early warning systems Scenario planning
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Disruptive Technologies
OLD
NEW Digital photography Mobile telephones On-line retailing Distance education Digital printing Outpatient clinics Endoscopic surgery Angioplasty
Photographic film Wired telephones Store retailing Classroom education Offset printing General hospitals Open surgery Cardiac bypass surgery
Unmanned aircraft Source: Clayton M. Christensen, The Innovators Manned fighters 4/7/12 On-line stock brokerage Dilemma, p. xxix.
Today Toyota Wal-Mart Dell Southwest, Ryan Air Microsoft Cingular Apple iPod
Tomorrow Cherry Internet retail RIM Blackberry SkyWest, Air taxis Linux Skype Cell Phones
Act or practice of advertising and selling a product (Random House Webster Dictionary of American English 1997)
By using marketing research to size and segment the market By using communications to build the brand and develop collateral materials By finding leads through direct marketing and trade shows
Selling stage. (the idea of setting up selling systems involving distribution, sales people and advertising). 4P stage. (the idea of integrating the marketing tools). STP stage. (the idea of refining the market targets and branding).
2.
3.
4.
Customer Relationship stage. (the idea of building a loyal customer base). 4/7/12
CCDVTP
CIB
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DISTRIBUTO RS
TRADITIONAL MEDIA
COMPETITIO N
PUBLIC
DISTRIBUTORS will demand more TRADE PROMOTION. This will leave less money for marketing research, advertising and consumer promotion for brand building and ultimately reduce brand equity. Investors will then downgrade the stock. This will leave the company with fewer resources to 4/7/12 prop up demand. This is a VICIOUS
Traditional media such as TV 30second spots, newspapers, etc., are growing LESS EFFECTIVE
Categories are so crowded with competitors that heavy price cutting will be UNAVOIDABLE
The public, in its wish to spend less, will be less inclined to pay higher prices for top brands where the quality differences are minimal. There is a strong shift to store brands and sub-brands. This means that top brands are overvalued and there may be a brand bubble.
Social media networks will play an increasingly influential role in shaping brand evaluations
SOLUT ION
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The Age of Social Media. Marketers have Lessening Influence in Shaping Their Brand Image
Person-to-person conversations about many products can exceed the amount of communication under the companys control. Thus a brand can be hijacked.
see Alex Wipperfrth, Brand Hijack: Marketing without Marketing, New York: Portfolio, 2005
Marketing 2.0 Managers listened to the consumers voices to understand their minds and capture market 4/7/12 insights
Marketing 3.0 Consumers play the key role of creating the value through co-creation of product and service
1950 s 1960 s
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1970 s 1980 s
1990 s 2000 s
201 0s 202 0s
The Four Ps
Brand Building
CO-CREATION
The STP
COMMUNITIZATI ON
COCREATION
Invite Customers
to provide ideas and co-create
The new ways of creating product and experience through collaboration of companies, consumers, suppliers, and channel partners interconnected in a global network of innovation
C.K. Prahalad and M.S. Krishnan, The New Age of Innovation: Driving Co-created Value Through Global Networks, New York: McGraw-Hill, 2008
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2.0
Objective Enabling Forces How companies see the market Key marketing concept Company marketing guidelines Value propositions Interaction with consumers
Sell products Industrial Revolution Mass Buyers with Physical Needs Product development Product specification Functional One-to-Many Transaction
Make the world a better place Social Media Whole Human with Mind, Heart, and Spirit Values Corporate , Vision, Values Functional, Emotional, and Spiritual Many-to-Many Collaboration
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Mission
( hy) W
Deliver
S IS ACT AT F ION
Realize
AS AT PIR ION
Practice
COMPAS ION S
V ision
( hat) W ProfitAbility R eturnAbility S ustainAbility
V alues
( How ) Be B T E ETR D F R NT E IF E E IAT Make a D F R NCE IF E E
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HEAR T
SPIRI T
Mission
To be a world leader in delivering innovative solutions to meet human needs through sustainability principles
Vision
For SC Johnson, creating sustainable economic value means helping communities prosper while achieving profitable growth for the company.
We create economic value We strive for environmental health We advance social progress
Values Sustainability
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Companies Americans Love Amazon, Best Buy, BMW, CarMax, Caterpillar, Commerce Bank, Container Store, Costco, eBay, Google, Harley-Davidson, Honda, IDEO, IKEA, JetBlue Johnson & Johnson, Jordan's Furniture, L L Bean, New Balance, Patagonia, Progressive Insurance, REI, Southwest, Starbucks, Timberland, Toyota, Trader Joe's, UPS, Wegmans, Whole Foods. The researchers found these firms of endearment to be highly profitable. They also found eight characteristics common to these firms.
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They align the interests of all stakeholder groups Their executive salaries are relatively modest They operate an open door policy to reach top management Their employee compensation and benefits are high for the category; their employee training is longer; and their employee turnover is lower They hire people who are passionate about customers They view suppliers as true partners who collaborate in improving productivity and quality and lowering costs They believe that their corporate culture is their greatest asset and primary source of competitive advantage. Their marketing costs are much lower than their peers while customer satisfaction and retention is much higher.
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Where is your company now? Where do you want it to be? Why? What would steps would you take?
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The Challenge
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The brand name may account for more than half of the brand value on the balance sheet.
Almost 70% of the market capitalization of such brands as Nike and Prada lie in its intangibles, especially the brand. The former chairman of Quaker Oats said: If the business were split up, I would take the brands, trademarks, and goodwill, and you could have all the bricks and mortarand I would fare better than you. 4/7/12
Mercedes - engineering BMW - driving Disney - family fun entertainment Saturn - no hassle car buying FedEx - overnight Wal-Mart - low prices/good values Hallmark - caring
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RELEVANCE
How you regard the brand Relates to perceptions of quality and loyalty
ESTEEM
KNOWLEDGE
BRAND STRENGTH
Leading Indicator Future Growth Value
BRAND STATURE
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LEADING B2B BRANDING COMPANIES DuPont Siemens Bosch General Electric Saint-Gobain UPS FedEx Click to edit Master subtitle style Tentra Pak Microsoft Caterpillar IBM Daimler Michelin Tata Steel Morgan Stanley
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Cement Bricks
It is possible to brand sand, wheat, beef, bricks, metals, concrete, chemicals, corn grits, bananas, apples, aspirin, (Sam Hill, How to Brand Sand).
CAN YOU DESIGN NEW FEATURES FOR AN AUTO INSURANCE POLICY? 4/7/12
Creating genuine customer MyRate rewards Progressive Name Your Price value: lower risk drivers lets customers with lower rates. Insurance their policy customize
to fit their budget.
I dont drive a lot of miles, Im a safe driver, and Im not usually on the road late at night when accidents are most likely to happen. Since Im less likely to be in an accident, shouldnt I pay less for car insurance? I want an easier way to see how I can meet my insurance needs at a great price.
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Examples: Harley Davidson, Saturn, Porsche, BMW, Apple user groups, Lexus owners, Barnes and Noble bookstores, The Body Shop, Ikea. Harleys Owner Groups:
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HOGs have 250,000 members divided into 800 chapters: VietNam vets, lesbians, born again Christians, Ladies on
BA, The Worlds Favorite Airline American Express, The Natural Choice AT&T, The Right Choice Budweiser, King of Beers
BRAND JOURNALISM
teens,
young adults, parents and seniors. It is positioned differently at breakfast, lunch, dinner, snack, weekday, weekend, with kids or on a business trip.
No one communication alone tells the whole brand story Each communication provides a different insight into the brand
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CONSUMER INSIGHT
Coffee and the drinking experience is often unsatisfying
Earth Colors
Values /Contemporary Personality / Character Points of Caring Thoughtful Difference Substantiators 24 hour (RTB) training of baristas Points of Parity Brand Mantr a Totally Triple integrated Filtrated Executional Propertieswater / system Visual Identity Siren Green &
Responsible, Locally involved Fairly Priced Stock option/ health benefits or baristas Relaxing, Rewarding moments Fresh, high quality coffee Varied, exotic Reach sensory Rich, Rewarding consumption Convenience, coffee drinks Coffee Experience Friendly experience service
CONSUM ER TAKEAW AY
Starbucks gives me the richest possible sensory experience drinking coffee
logo
CONSUMER INSIGHT
Local cafes, Fast food 4/7/12 & convenience
The brand Mercedes-Benz is a brand icon, from its founding day till today. 4040 4/7/12
Customer perceived value Customer satisfaction Customer repeat purchase Customer advocacy
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TRACKING SUSTAINABILITY
Needed: indices that measure how well a company performs in the triple bottom line: profit, planet, and people. The AIM: To encourage companies to improve their economic, environmental, and social impact on the society.
Company Approach FTSE4Good IndexGood companies work toward environmental sustainability, have positive relationship with all stakeholders, protect universal human rights, possess good supply chain labor standards, and counter bribery practices Dow Jones Sustainability Index Corporate sustainability as a business approach that creates long-term shareholder value by embracing opportunities and managing risks deriving from economic, environmental and social developments.
Goldman Sachs Introduce the GS Sustain Focus List, which includes the list of companies with sustainable practices
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Sustainabi lity
Profitabilit y
Returnabil ity
An Oracle salesperson told us, Marketing sends us business cards they collect at trade shows from people who dont need us and dont want to see us. They call these things leads.
Marketing says We generate about 25,000 leads a year for sales. Most of these leads arent followed up and go cold.
Marketing, a senior airline sales manager told us, are the people who come up with these fancy value propositions that mean nothing to customers but do tell us how out of touch they are with business reality.
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Gather meaningful customer insights. Strengthen the brands. Drive new product development based on customer needs. Utilize new marketing technology. Measure marketing effectiveness. Improve marketings working relation with the other functions.
4. 5. 6.
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Selling Funnel
Customer Awarenes s
Brand Awarenes s
Brand Preferenc e
Purchase Intention
Purchase
Loyalty
Customer Advocacy
Handoff M a r k e ti n g S a l e s
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Prospecti ng
Qualifyin g
Defining Needs
Developi ng Solutions
Contract Negotiati on
Implementa tion
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Theres not enough value in the mousetrap to differentiate us from competition So the role of sales is to add value to our mousetrap
Consultative Customers
Transactional Customers
Know what they want Treat you as a commodity Buy on price and convenienc
CONSULTATIVE
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Customers Today
More buy transactionally
$ $ $
CONSULTATIVE
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Well offer you cheap and convenient products, but dont expect extras.
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O R
Transaction al Sales
Internet
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Campaign s
MESSA GE
Companies need to move from a shareholder to a stakeholder view of the enterprise. Companies need to practice the Triple Bottom-Line Model: Economic Value, Environmental Health, and Social Progress. Companies must better define their corporate social responsibilities. Marketers get their clues from how the company defines its mission, vision and values. The marketers then send offerings that touch the customers mind, heart, develop and human spirit. Marketing can contribute by serving more actively in developing the companys plans for long run profitable growth.
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Within five years, if you run your business in the same way as you do now, youre going to be out of business. Philip Kotler
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