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Marketing Instruments & trade promotion AGEXPORT - Thursday 29 th April 2010 - Guatemala Marketing Instruments & trade promotion AGEXPORT - Thursday 29 th April 2010 - Guatemala City, Guatemala

This session • To understand what, why & how of using marketing instruments • This session • To understand what, why & how of using marketing instruments • Agenda - Marketing Mix - Promotional strategy - Instruments of promotion - Plan & Follow up - Do’s & Dont’s 29 April '10 Marketing instruments 2

Marketing Mix: 4 P’s • Product - The range of services, characteristics, quality, packaging Marketing Mix: 4 P’s • Product - The range of services, characteristics, quality, packaging • Price - Determinants of price, discounts, credit, pricing strategy • Promotion - Selling, advertising, sales promotion, publicity • Place - Channels of distribution, warehousing, transport, stock levels 29 April '10 Marketing instruments 3

The 4 P’s are interrelated If you change one, you must make sure the The 4 P’s are interrelated If you change one, you must make sure the others are ‘matching’. 29 April '10 Marketing instruments 4

Price & price strategy • SME must determine the objectives for the pricing - Price & price strategy • SME must determine the objectives for the pricing - Penetrating market - Increasing turnover - Increasing margin • 29 April '10 SME must then develop strategies to achieve those objectives Marketing instruments 5

Price setting high PRICE Generates no demand Value pricing Competitive pricing Cost plus Generates Price setting high PRICE Generates no demand Value pricing Competitive pricing Cost plus Generates no profit low 29 April '10 Marketing instruments 6

Segmentation • Splitting market in segments with same characteristics - identical inside the segment Segmentation • Splitting market in segments with same characteristics - identical inside the segment - difference between segments • Types of segmentation - Demographic man vs women, age - Product use high users vs low users - Lifestyle Armani vs H&M - Buying behaviourloyal vs single user • Tip - Not too many segments - Keep it practical 29 April '10 Marketing instruments 7

Customer contact pyramid low loyal buyer high buyer # people contact € profit prospect Customer contact pyramid low loyal buyer high buyer # people contact € profit prospect high 29 April '10 market Marketing instruments low 8

Customer contact pyramid loyal buyer Contact relationship buyer contact personal prospect market 29 April Customer contact pyramid loyal buyer Contact relationship buyer contact personal prospect market 29 April '10 Marketing instruments mass 9

Customer contact pyramid loyal buyer Instruments Personal selling buyer contact prospect market 29 April Customer contact pyramid loyal buyer Instruments Personal selling buyer contact prospect market 29 April '10 Marketing instruments Direct marketing Trade show Advertising 10

Promotion • • Publicity • PR • Sponsorships • Sales promotion • Trade show Promotion • • Publicity • PR • Sponsorships • Sales promotion • Trade show • Direct marketing • Personal selling • Internet • 29 April '10 Advertising Infomercials Focus for export Marketing instruments 11

Developing an promotional strategy • Define the purpose of the promotion program - Create Developing an promotional strategy • Define the purpose of the promotion program - Create awareness • • Company Products - Stimulate response • Request documentation - Direct sales • • Buy now and get …. . Identify target customers - From your Export Marketing Plan • Design a marketing message and promotional message - Build message around a Unique Selling Proposition. 29 April '10 Marketing instruments 12

Marketing message = Promise & evidence 29 April '10 Marketing instruments 13 Marketing message = Promise & evidence 29 April '10 Marketing instruments 13

CBI’s promise & evidence 29 April '10 Marketing instruments 14 CBI’s promise & evidence 29 April '10 Marketing instruments 14

Defining your marketing message • Target group - Who do you want to reach? Defining your marketing message • Target group - Who do you want to reach? • Key message - What is the most important element you want to communicate? - What should be in the heart / mind of the target group AFTER they have seen your communication • Basic customer benefit - Which benefit is the biggest / most important for your target group? • Supporting evidence - Which proof do you have for this 29 April '10 er? stom benefit. u tor? to c peti ant com elev om ? R fr time ent r er ove Diff ble ina usta S Marketing instruments 15

Example Target group Music lovers with very active lifestyle Key message 5. 000 songs Example Target group Music lovers with very active lifestyle Key message 5. 000 songs in your pocket Basic • Your music • Wherever you go • Organised how you like it Customer Benefit Supporting Evidence 29 April '10 • • Lightweight Clip Upload & organise with I-tunes Longer batterylife than competitors Marketing instruments 16

Assignment Define the marketing message for YOUR company 29 April '10 Marketing instruments 17 Assignment Define the marketing message for YOUR company 29 April '10 Marketing instruments 17

Defining marketing message Target group Key message What is the most important element you Defining marketing message Target group Key message What is the most important element you want to communicate? What should be in the heart / mind of the target group AFTER they have seen your communication Basic Customer Benefit Which benefit is the biggest / most important for your target group? Supporting Evidence 29 April '10 Who do you want to reach? Which proof do you have for this benefit. Marketing instruments 18

USP • Unique - It clearly sets you apart from your competition - Positioning USP • Unique - It clearly sets you apart from your competition - Positioning you as the more/most logical choice. • Selling - It persuades another to exchange money for a product or service. • Proposition - It is a proposal or offer suggested for acceptance. Translate into creative message 29 April '10 Marketing instruments 19

Examples Creative messaging Examples Creative messaging " I have to get this package delivered quickly! " “When it absolutely, positively has to be there overnight " 29 April '10 Marketing instruments 20

Examples Creative messaging Examples Creative messaging " The kids are starving, but I am too tired to cook! " " Pizza delivered in 30 minutes or it's free " 29 April '10 Marketing instruments 21

Promotion Includes. . . • Publicity - any commercial news covered by the media Promotion Includes. . . • Publicity - any commercial news covered by the media that boosts sales but for which the small business does not pay. Trade fair bulletins. • Personal selling (trade fairs) - the personal contact between sales personnel and potential customers resulting from sales efforts. • Advertising - any sales presentation that is nonpersonal in nature and is paid for by an identified sponsor. 29 April '10 Marketing instruments 22

Promotion Instruments Benefit Barriers Effective Control Cost € Cost Advertising Public Relations Direct Mail Promotion Instruments Benefit Barriers Effective Control Cost € Cost Advertising Public Relations Direct Mail Internet Trade fair 29 April '10 Marketing instruments 23

Promotion Instruments Benefit Barriers Effective Control Cost € Cost Mass Competition + + +++ Promotion Instruments Benefit Barriers Effective Control Cost € Cost Mass Competition + + +++ + Impact No control ++ - - ++ Direct Mail Focus Limited reputation +++ ++ + + Internet Cheap Competition ++ + + - Trade fair Image Cost + - +++ ++ Advertising Public Relations 29 April '10 Marketing instruments 24

Tips for Stimulating Publicity • • Offer to be interviewed on TV and radio Tips for Stimulating Publicity • • Offer to be interviewed on TV and radio stations • Publish a newsletter • Speak to local organizations • Sponsor a seminar • Write news releases and fax them to the media • Sponsor a community project or • 29 April '10 Write an article support a nonprofit organization Marketing instruments 25

Five Fundamentals of a Successful advertising It should attract attention. It should emphasize a Five Fundamentals of a Successful advertising It should attract attention. It should emphasize a key benefit of the product or service to the customer. It should communicate the company’s Unique Selling Proposition (USP). It should prove the USP and benefits to the customer with facts, statistics, or testimonials. 29 April '10 Marketing instruments It should motivate customers to take action immediately. 26

Always follow up • Promotion is NOT only about YOUR message • It is Always follow up • Promotion is NOT only about YOUR message • It is about the CUSTOMERS reaction • Follow up - Offer information (via website) - Send product information (within 48 hours after contact) - Call - Be specific - Answer THEIR questions, NOT repeat your message 29 April '10 Marketing instruments 27

Summary • Marketing mix = mix of 4 elements quality of interrelation determine succes Summary • Marketing mix = mix of 4 elements quality of interrelation determine succes • Communication is more than creativity - Promise + evidence • • 29 April '10 Choice of instruments = horses for courses Every promotional activity MUST be followed up with next step Marketing instruments 28