Professional Documents
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Marketing Your Products
Marketing Your Products
Organization
© Copyright Carter McNamara, MBA, PhD, Authenticity Consulting, LLC.
This module is in the organization development program. However, this module can also be
used by anyone as a self-study exercise to learn more about marketing the organization and
its products/services.
INTRODUCTION
There is often a great deal of misunderstanding about marketing. People often consider
marketing to be the same as advertising. It's not. Advertising is only one part of marketing.
Very simply put, marketing is the wide range of activities involved in making sure that
you're continuing to meet the needs of your customers and getting value in return.
Market analysis includes finding out what groups of customers (or markets) exist, what their
needs are, what groups of customers you prefer to serve (target markets), what products or
services you might develop to meet their needs, how the customers prefer to use the
products and services, what your competitors are doing, what pricing you should use and
how you should distribute products and services to customers. Results of this marketing
analysis indicates the position, or market "niche", for the organization to work from -- and
to be seen as having. Marketing also includes ongoing promotions, which can include
advertising, public relations, sales and customer service. Various methods of market
research are used to find out information about markets, target markets and their needs,
competitors, market trends, customer satisfaction with products and services, etc.
NOTE ABOUT THE LARGE SIZE OF THIS MODULE: This module is one of the largest in the
program. The activity of marketing an organization and its products and services is critical
to the success of the organization and its products and services -- the marketing process is
broad and sometimes quite detailed. Learners who have very limited time schedules might
proceed through this module primarily by reviewing the learning materials and then thinking
about how they would carry out (rather than actually carrying out) the various activities to
build structures in their organization.
Also see
Related Library Topics
OUTCOMES
1. Conduct Basic Market Analysis for Each Product
2. Draft Your Public and Media Relations Plan
3. Draft Your Sales Plan
4. Draft Your Advertising and Promotions Plan
5. Draft Your Marketing and Promotions Plans
Marketing
Advertising and Promotions
Product Development
Then read
What's Advertising, Marketing, Promotion, Public Relations and Publicity, and Sales? (all)
Sales
What is Sales?
Understanding the Sales Process
Basics of Marketing
1. Define marketing. Advertising. Promotions. Public relations. Publicity. Sales. In your
definitions, include how these terms are similar and different. See What's Advertising,
Marketing, Promotion, Public Relations and Publicity, and Sales?
2. What is inbound marketing? Outbound marketing? See Marketing (the introduction
"Marketing" -- A Commonly Misunderstood Term".
3. What should be considered when setting the price for a product or service? See Marketing
Pricing -- introduction.
4. What should be considered when naming a product or service? See Naming and Branding
-- introduction.
2. Name at least three practices in maintaining strong public relations. See Managing Your
Image (Public Relations).
4. Name at least three practices in maintaining strong media relations. See Managing Media
Relations.
Sales
1. What is sales? See What's Advertising, Marketing, Promotion, Public Relations and
Publicity, and Sales? and What is Sales?
2. What are some basic steps in the sales process? See Understanding the Sales Process.
Customer Service
1. What are some basic steps in the maintaining high-quality customer service?
See Customer Service.
1. In the Framework for Basic Marketing and Promotions Plan, write a description of the
product/service. The description should be written as if your customers are the readers. In
the description, include the specific groups of customers served by the product/service,
nature of the method(s) in the product/service , outcomes for customers and any other
benefits to them, and where they should go next if they are interested in using the
product/service. Be careful to describe the product/service in terms of benefits to
customers, not to you. For example, address pricing, convenience, location, quality, service,
atmosphere, etc.
2. In the table in Framework for Basic Marketing and Promotions Plan, write a brief
description of the major groups of customers who will benefit from your product/service and
the major benefits to them. Remember that the overall strategic goals of the organization
very much determine whom you want to serve. For example, strategic goals might be to
expand the overall number of customers or markets you have now, get new customers, get
more revenue from current customers, etc. You may want to develop new services in a
current or new market, or expand current services in a current or new market.
Understanding each of your product/service target markets makes it much easier for you to
ensure that your product/service remains highly useful to each of them -- each target
market tends to be unique. Understanding your target markets helps you to focus on where
to promote your product/service, including advertising, conducting public relations
campaigns and selling your product/service. If you've done a good job so far of market
research, then identifying the primary targets market should be fairly straightforward.
However, it is very useful to determine several additional target markets. These additional
markets are often where you should focus promotions and additional sources of assistance
and revenue. (If you struggle to identify your target markets, the following links might help
you, including How to Identify a Target Market and Prepare a Customer Profile andMarketing
Research.)
3. In the Framework for Basic Marketing and Promotions Plan, write a description of each of
your target markets. The more you know about your customers, the better you might be at
serving them. Consider, for example, their major needs, how they prefer to have their
needs met, where they are and where they prefer to have their needs met, and
demographics information (their age ranges, family arrangement, education levels, income
levels, typical occupations, major interested, etc). Also, consider what methods of
communication they might prefer because that's how you are more likely to be successful to
communicate to them, for example, when advertising your product/service.
Analysis of Competitors
4. In the Framework for Basic Marketing and Promotions Plan, write results from your
analysis of your competitors. Consider the following questions: Who are your competitors
for the product/service? What customer needs are you competing to meet? What are the
similarities and differences between their product/service and yours? What are the strengths
and weaknesses of their product/service? How do their prices compare to yours? How are
they doing overall? How do you plan to compete, for example, offer better quality services,
lower prices, more support, easier access to services etc? For assistance, see Competitive
Analysis.
Analysis of Collaborators
5. In the Framework for Basic Marketing and Promotions Plan, write results from your
analysis of potential collaborators. Who are potential collaborators with your organization
and specific to the product/service? What customer needs might you collaborate to meet?
What resources might they bring and what could you bring? What could you do next to
cultivate collaboration with other organizations? For assistance, see Organizational Alliances.
Pricing Analysis
6. In the Framework for Basic Marketing and Promotions Plan, write results from your
pricing analysis. Several major factors influence the pricing for a product/service. Strategic
goals greatly influence pricing. For example, if the organization really wants to get into a
new market, then it might charge lower than usual prices in order to generate more
customers who buy the service. The organization might consider changing pricing if the
demand for its products/services is very high or low. Competitor pricing also has a great
effect. If competitors are charging much less, then the organization might do well to lower
prices. Similarly, if the competitor is charging much more, then the organization might
consider increasing its own prices. For assistance, see Market Pricing.
7. In the Framework for Basic Marketing and Promotions Plan, fill in the sales plan.
Regarding your sales planning, consider: What target markets will be approached? What
should be your sales method for each target market, for example, who will make initial
contacts to generate leads, do follow-ups to initial contacts, make presentations and close
sales? How much do you expect to accomplish in sales (consider terms of outputs, such as
dollars made, customers recruited, or other units of service). For assistance,
see Understanding the Sales Process.
8. In the Framework for Basic Marketing and Promotions Plan, fill in the advertising and
promotions plan. The plan includes what target markets you want to reach, what features
and benefits you want to convey to each of them, what methods and media you will use to
convey it to them, who is responsible to implement the methods and how much money is
budgeted for this effort. The plan includes plans for a promotional campaign, including an
advertising calendar and media plan. The goals of the plans should depend very much on
the overall goals and strategies of the organization, and the results of the marketing
analysis, including the positioning statement.
When selecting methods, consider what communications methods and media will be most
effective in reaching target markets (groups of customers) and when. What are their
preferences for media and when do they use them? (The link Basic Methods to Get
Customer Feedback might be helpful now.) Consider, for example, radio, newsletters,
classifieds, displays/signs, posters, word of mouth, press releases, direct mail, special
events, brochures, neighborhood newsletters, etc. What media is most practical for you to
use in terms of access and affordability? (The link Major Methods of Advertising and
Promotion might be helpful now.)
9. In the Framework for Basic Marketing and Promotions Plan, fill in the customer service
plan. When considering how you will ensure strong services to customers, consider: Are
customers very satisfied with your services? How do you know? If not, what can you do to
improve customer service? How can you do that? What policies and procedures are needed
to ensure strong customer service. Include training in your considerations, including to
develop skills in interpersonal relations, such as questioning, listening, handling difficult
people, handling interpersonal conflicts, negotiating. For assistance, see Customer
Service, Basic Methods to Get Feedback from Customers, Questioning, Listening, Handling
Interpersonal Conflict, Handling Difficult People and Negotiating.
10. In the Framework for Basic Marketing and Promotions Plan, fill in section about
production planning. Note that the development and implementation of various production
methods do not have to be addressed in detail in a marketing plan -- these topics are
usually included in the operations or management planning for the products and services.
However, production should be generally considered during the marketing analysis to
ensure the eventual detailed production planning takes into consideration the needs of
target markets and having their needs met on time. Consider: What resources do you need
to build, reproduce and provide the product/service? How do you know? Will you have
sufficient resources into the near future? How do you know?
11. In the Framework for Basic Marketing and Promotions Plan, fill in section about
distribution planning. Matters of distribution of products/services can be critical for
organizations, especially if they are providing critically needed products/services to specific
groups of customers.
Carefully consider: What distribution channels should you consider, for example, should
customers come to your facility, you visit their offices, can you provide products/services
over the telephone or Internet, etc? What resources are needed to bring together your
products/services and your target markets? What major steps need to occur to accomplish
these distribution channels? (The link Distribution may help you.)
Note that detailed planning about developing and maintaining distribution channels is often
included in the operations or management plans, rather than in the marketing plan.
However, the marketing analysis should focus on selecting the methods of distribution that
best meet the needs of target markets and the organization.
Product/Service Innovation
Neon Memories Diner attracts prospective customers by offering an exciting and unique dining
experience. High quality food, friendly and professional service, and an entertaining, fun-filled
environment differentiate Neon Memories from its competitors.
Prospects: Anyone who has received a first-timer discount coupon or who has otherwise
provided their contact information (via raffle, website, or mailing list).
Customers: At least one meal enjoyed at Neon Memories Diner. They've added their name to
our mailing list, and anticipate returning to dine with us again.
Premium Customers: They come in several times a year, bring friends and/or extended
family, and plan ahead to attend theme nights. They take part in the Neon Points program and
refer others.
The products sold by Neon Memories Diner fall into the following categories:
Shakes: $6 each
Cakes and pies: $6 each
Sundaes: $9 each, appropriate for groups as each serves at least two people
Sodas and Juices: $2.50 - $3.50
Hot drinks: $2.50 - $5
Kid's meals: $8
Griddle meals (pancakes, waffles, french toast): $10
Egg meals (eggs, omelets, scrambles, etc.): $9
Quick breakfasts (cereal, granola, fruit salad, muffin, etc.): $3
Smoothies: $6
Starter soups and salads: $2.50 - $5
Other starters: $5 - $9
Meal Salads: $13
Burgers: $10 - $14
Sandwiches: $9 - $12
Hot dogs: $8
Blue plate specials (meatloaf, chicken pot pie, beef stroganoff, etc): $13 - $17
Items $10 and under are often appropriate for one person trying out the restaurantwith a small
meal, breakfast, drink, appetizer, or dessert.
Most customers are expected to purchase starters, meals, drinks, and desserts for each individual
in the group. Premium customers will do this frequently.
Price Rationale
The pricing for Neon Memories Diner is intended to set the restaurant well above a fast food
establishment ($20 for a meal rather than $5-10). The rationale is that coming to Neon Memories
Diner is a special event and customers will feel they can splurge (both calorie-wise and dollar-
wise) on starters, drinks, and desserts because a vist to Neon Memories it is not an everyday
experience.
The pricing is about 20% higher than traditional diners without any specific theme or unique
packaging. As a unique and themed restaurant, this is the premium customers are willing to pay
for all of the extra elements (beyond food) included in the Neon Memories Diner exeprience.
Neon Memories Diner has found over the past two years that this pricing is acceptable to
customers, especially when the target customers are in the older age bracket (generally
grandparents and older parents who were alive in the '50s or '60s).
Coupons and first-timer deals will be relatively easy to find on the diner's website and in radio,
print, and online ads, as well as local events. A standard first-timer deal will be a free drink or
small starter with the purchase of a meal. Generally, these type of deals will only be available to
first-timers, and all customers will be tracked by name and address when they take advantage of
these deals.
Regular and premium customers will not generally have deals of this kind, but will be rewarded
with Neon Memories Points when they register their information. For every $100 they spend at
the restaurant, they will receive $10 off their next meal.
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