MARKETING TIPS, TRICKS & TRAPS

1. Marketing Steps

• Classifying Your Customers' Needs
• Targeting Your Customer(s)
• Examining Your "Niche"
• Identifying Your Competitors
• Assessing and Managing Your Available Resources
  • Financial
  • Human
  • Material
  • Production

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NOTES AND STRATEGIES FOR YOUR BUSINESS

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MARKETING TIPS, TRICKS & TRAPS

2. Marketing Positioning

• Follower versus Leader
• Quality versus Price
• Innovator versus Adaptor
• Customer versus Product
• International versus Domestic
• Private Sector versus Government

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NOTES AND STRATEGIES FOR YOUR BUSINESS

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MARKETING TIPS, TRICKS & TRAPS

3. Sales Strategy

• Use Customer-Oriented Selling Approach - By Constructing

• Emphasize Customer Advantage

Must be Important to the Customer: When the perception of competitive advantage varies between supplier and customer, the customer wins.

Must be Specific: When a competitive advantage lacks specificity, it translates into mere puffery and is ignored.

Must be Promotable: When a competitive advantage is proven, it is essential that your customer know it, lest it not exist at all.

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NOTES AND STRATEGIES FOR YOUR BUSINESS

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MARKETING TIPS, TRICKS & TRAPS

4. Benefits vs. Features

• The six "O's" of organizing Customer Buying Behavior

ORIGINS of purchase: Who buys it?

OBJECTIVES of purchase: What do they need/buy?

OCCASIONS of purchase: When do they buy it?

OUTLETS of purchase: Where do they buy it?

OBJECTIVES of purchase: Why do they buy it?

OPERATIONS of purchase: How do they buy it?

• Convert features to benefits using the "...Which Means..."

• Sales Maxim: "Unless the proposition appeals to their INTEREST, unless it satisfies their DESIRES, and unless it shows them a GAIN-then they will not buy!"
• Quality Customer Leads:

Level of need Ability to pay

Authority to pay Accessibility

Sympathetic attitude Business history

One-source buyer Reputation (price or quality buyer)

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NOTES AND STRATEGIES FOR YOUR BUSINESS

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CONVERT FEATURES INTO BENEFITS-THE "...WHICH MEANS..." TRANSITION

FEATURES "WHICH MEANS" BENEFITS

Performance Time Saved

Reputation Reduced Cost

Components Prestige

Colors Bigger Savings

Sizes Greater Profits

Exclusive Greater

Convenience

Uses Uniform Production

Applications Uniform Accuracy

Ruggedness Continuous Output

Delivery Leadership

Service Increased Sales

Price Economy of Use

Design Ease of Use

Availability Reduced Inventory

Installation Low Operating Cost

Promotion Simplicity

Lab Tests Reduced Upkeep

Terms Reduced Waste

Workmanship Long Life

BUYING MOTIVES

RATIONAL EMOTIONAL

Economy of Purchase Pride of

Appearance

Economy of Use Pride of Ownership

Efficient Profits Desire of Prestige

Increased Profits Desire for

Recognition

Durability Desire to Imitate

Accurate Performance Desire for Variety

Labor-Saving Safety

Time-Saving Fear

Simple Construction Desire to Create

Simple Operation Desire for

Security

Ease of Repair Convenience

Ease of Installation Desire to Be

Unique

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PRICE / QUALITY MATRIX

SALES APPEALS

PRICE/QUALITY HIGH MEDIUM LOW

HIGH "Rolls Royce" "We Try Harder" "Best Buy"

Strategy Strategy Strategy

MEDIUM "Out Performs" "Piece of the Rock" "Smart Shopper"

Strategy Strategy Strategy

LOW "Feature Packed" "Keeps on Ticking" "Bargain

Strategy Strategy Hunter"

Strategy