Marketing Insights

Marketing Basics & Social MediaFor Small & Medium Businesses

RENEE CLYDESDALE – OWNER &MARKETING STRATEGIST

Prepared and Presented by:

Topics What is Marketing?

Marketing Mix (7 P’s) Research (what do you research) Marketing Plan Elements

Understanding Consumers

Promotion Channels

Establishing a Marketing Budget

Social Media

Conclusion

THE WHO WHAT WHEN HOW WHERE & WHY

Marketing Overview

What is Marketing?

Basic Definition:

Marketing is the process whereby society, to supply its consumption needs, evolves distributive systems composed of participants, who, interacting under constraints - technical (economic) and ethical (social) - create the transactions or flows which resolve market separations and result in exchange and consumption.

Bartles

Traditional v InteractiveTraditional Marketing Promoting a product or service through USP Impression of greed and profit hungry Lack of interest in consumer

Interactive Marketing Establishing a relationship Identify with you consumer’s needs Promote your product based on consumer needs

Importance of MarketingResearch and development

Developing products that meet the needs of clients.

Production team Keep up with demand created and live up to promises

Your human resources Hiring and training staff to sell and create a strong image

Your financial experts Discussions around pricing your product.

Your legal team Privacy implications of various marketing techniques

Your environmental team Attractive and low impact on the environment.

Importance of MarketingPromotes product awareness to the public

A company must invest in marketing so not to miss opportunities

Helps boost product sales Sales are generated once the public are aware of the product/service Increasing sales, marketing department must STRATEGICALLY PLAN

Helps builds company reputation Aim to create brand awareness/recognition Takes time and money Once established easy to grow!

Marketing Mix

Marketing Mix

People

Packaging

Positioning

Research Demographics Geographics Physcographics Competitors Distribution Strengths Weaknesses Opportunities Threats Industry Trends

Constructing a Plan

Introduction Marketing Mix SWOT Analysis Marketing Budget Action Plan

YESTERDAY TODAY & TOMORROWToday’s Consumer

Yesterday’s Consumer Today’s marketplace consists of:

Baby Boomers Generation X Generation Y Generation Z

Baby Boomers (born 1946 – 1964)

Generation X (born 1964 – 1977)

Generation Y (born 1978 – 1990)

Generation Z (born 1991 – 2010)

METHODS TO GET YOUR MESSAGE OUT THERE

Promotions Mix

Promotions Methods Advertising Word of Mouth Social Media Cross Promotion Public Relations Trade Shows Networking Direct Sales In-store Demos Seminars Signage

INVESTING YOUR MONEY TO MAKE BUSINESS GROW

Establishing a Marketing Budget

Guides to Setting a Budget % of expected revenue

Not the most reliable!

Everything you can afford Risky but quick growth

Desired customer growth Very specific, accurate

Industry specific Accurate but big players included

Spend nothing Is it really costing you nothing

THE WAY OF THE FUTURESocial Media

What Social Media Does Social Media is NOT Interactive Marketing Helps with SEO People meet and start conversations Become a real member of the community Add value to the community No boundaries of time or space Other people can easily participate Share ideas, thoughts and information Publish articles Network and build relationships Create and join groups so much to do and so little time!!!!!

Availability

Websites Facebook Twitter linked-IN You Tube Blogs E-newsletters Applications Online AdvertisingSquidooFlickr

WHAT WE DISCUSSED AND QUESTIONS

Summary & Questions