By Michael Njogu Head of Sales & Marketing and M. I. C. E Private Safaris (E. A. ) Ltd.
What is Marketing Why Marketing Process - Market analysis, Plan, Customer relationship Workable Strategies Business to Business (B 2 B) Evaluation Conclusion
Marketing is the process by which companies determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments. It is an integrated process through which companies build strong customer relationships and create value for their customers and for Themselves. Wikipedia. org
Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. American Marketing Association
Marketing is one of the key components of your business Analyze the market – i. e behavior of consumers and competitors to assist design a marketing mix that is acceptable in the marketplace. Identify the customer – Acquiring, Satisfying and retaining the customer to whom your product will appeal by delivering customer value
What is Marketing Why Marketing Process - Market analysis, Plan, Customer relationship Workable Strategies Business to Business (B 2 B) Evaluation Conclusion
1. Market analysis: Understand the market place, customer wants and needs, (Maslows hierachy of needs)
2. Design a customer driven marketing strategy – choosing a target market, segmenting and building a profitable relationship 3. Prepare a Marketing Plan 4. Build Customer Relationships 5. Capture value from customers
Establish a need or demand for your product? Different people present different tastes and preferences; Who does the market comprise of? Who is providing similar products and how are they doing it? How do you intend to address these needs? Refer to Maslows hierachy of needs (slide 7)
Design a customer driven marketing strategy – choosing a target market and building a profitable relationship A winning strategy should answer the following questions: What customers will we serve ? (target market) - Divide the Market into segments on the basis of percent of sales, the interests e. g cultural expeditions, how to reach them, price sensitivity and target the most profitable How can we serve this customers best? (value proposition) How will you organize differentiate and position yourself in the market place to satisfy the need. Why should one buy your product and not the Competitors?
The Marketing Mix - 7 P’S
Transforms marketing strength into action. Product: decisions should consider the product's advantages and how they will be leveraged includes brand name, quality, scope, packaging Price: Pricing strategy, expected volume, and decisions for the following pricing variables, list price, discounts, Payment terms and financing options Place: Identify distribution channels, such as direct, retail, wholesalers & agents, Motivating the channel such as agent margins, location of product distribution
Promotion: Set-up an effective visibility platform for your product e. g advertising, Public Relations, promotional programs People: Very crucial in service delivery. Process: Services are intangible, processes become crucial to ensure standards are met Physical Evidence: Services are intangible, customers depend on other cues to judge the offering
The key is to create lasting relationship to create superior customer value and satisfaction: How can you attract and retain customers? What is the lifetime value of customers? How can one cultivate strong customer relationships? Customer value – customer perceived value Customer satisfaction – Exceeding customers expectations
Capture value from customers by: Creating customer loyalty and retention Efficiency, database management, ongoing communication Grow customer share
What is Marketing Why Marketing Process - Market analysis, Plan, Customer relationship Workable Strategies Business to Business (B 2 B) Evaluation Conclusion
Create a web presence by designing a website Produce quality brochures or flyers for the product and distribute Partner with Ecotourism and Responsible Tourism websites Attend travel shows, adventure shows or ecotourism forums Issue regular press releases about new activities and developments
Seek Affiliations with Tour Operators and Travel Agents. Seek possibilities to have the product included in itineraries. Discuss pricing and commissions up front, Pricing structures depending on level Marketing/Brochure Support
Evaluate the Sales Growth Assess the qualitative importance of different attributes Assess the company’s and competitor’s performances Examine ratings of specific segments, monitor customer views over time through a feedback mechanism
Know your product Know your market and to whom your product will appeal Know your unique selling points Know your competition - what they do and what sets your business apart from them Keep the customer smiling!
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