Marketing Principles #2

[samvara]

Pre seminar meeting with team, we are that organised ;p

Seminar

Discussion of Robin Gibb's recent deat, discussion of his personal brand - post disco rebranding - post Saturday night fever (I admit I
have the vaguest idea of who he was so this wasn't a terribly successful exercise form my point of view)

Discussion of brand values of IKEA - affordable, distinctive design, fun, young. Discussion of brand meaning - hooking emotions to objects

Discussion of Markstrat test run results - practice round: Do we jump straight into the first 'real' round and have more time in week 11? Jump!

Marketing Planning - intro to frameworks

Strategy is hard which is why most people don't do it.

The Marketing planning process - according to M. YMMV

• Choose metric - traditional metrics (sales revenue, net profits, return on sales, return onassets, market share) customer metrics (satisfaction, retention, acquisition, customer value, brand loyalty, brand awareness and recall, intentions to purchase, satisfaction levels, perceptions of quality, service, correct identification of the brand's positioning and differentiation harder, but telegraphs the first category
• Set targets - marketing dashboard (Harvard method) - business drivers, product development pipeline, marketing resources and skills
• Assess options - strategic gap analysis - marketing strategy must map to corporatestrategy. Ansoff's product- market matrix as a tool (four ways to grow a company)

Advertising is most powerful for a new product in a new market (as opposed to existing, established products)

Analyse Environment

• Macro environment
• Micro environment
• Internal environment
• SWOT or TOWS (I kind of love a tool that sounds like 'toes')

Assess threats

• Rigorous analysis of the potential opportunities

Break to discuss marketing garden furniture - more interesting than it sounds! Really.

Kate Jenkins: guest lecturer - mobile phones - value chain analysis - what do you need to do to be successful?

Mobile Value Chain 2008 versus 2012

• Equipment Providers - Nokia merge Siemens
• Handsets
• Content Providers - 2012 google, Facebook, angry birds, foursquare
• Network Operators - 3 merge with Vodaphone
• Service Providers - Woolworths emerges!

Where can a company focus to move forward?
Innovation - Consumer Needs - Customer Retention (keep the profitable customers happy) - Costs (customers are even more price sensitive in this economic environment)