Marketing strategy : how to manage a product launch ?

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Transcript of Marketing strategy : how to manage a product launch ?

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MARKETING STRATEGY

How to prepare and manage a product launch ?

1Summary1/Build a marketing plan

2/Communicate2

First step for your business strategy is to build a marketing plan. You need to think about 6 steps. It will help to definie the content and the support 21/ Build a marketing plan a) Define your business goals Increasing awareness of your products and services ?Selling more products from a certain supplier ?Reaching a new customer segment?Introducing new product on the market

The SMART method:Specific Measurable Achievable Relevant Time-bound

3In order to define your business goals, you can use the SMART method:Specific - state clearly what you want to achieveMeasurable - set tangible measures so you can measure your resultsAchievable - set objectives that are within your capacity and budgetRelevant - set objectives that will help you improve particular aspects of your businessTime-bound - set objectives you can achieve within the time you need them.

31/ Build a marketing plan b) Profile your customersBtoB or BtoC ?Identify their needsReview trends

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BtoB or BtoC : in France the sells Sanicompact in DIY represents 60%Why ? Its easier for end users fo buy 1 piece (I mean a compact) rather than a WC and a sanibroy. And its also easier to install since there is only 1 piece.You also have to identify their buying patterns, including how they buy, where they buy and what they buy. Soyou don't miss out on new opportunities or become irrelevant with your marketing message. For the sanicompact, the main advantage is the water saving. The flush is 1,8L/3L (instead of 3/6L)(While you try tofind new customers, make sure your marketing strategy also allows you to maintain relationships with your existing customers).41/ Build a marketing plan c) Product positioning and competitionFocus on both internal and external background

SWOT :Internal originAttributes ofthe organizationExternal originAttributes ofthe environmentSStrengths

WOTWeaknessesOpportunitiesThreats5as part of your marketing strategy you should develop a profile of your competitors by identifying their products, supply chains, pricing and marketing tactics.Use this to identify yourcompetitive advantage- what sets your business apart from your competitors. You may also want to identify thestrengths and weaknessesof your own internal processes to help improve your performance compared with your competition. For Sanicompact :Strenghts : Water savingWeaknesses : cannibalization (do you will sell more sanicompact instead of sanibroy?), is your performance will be the sameOpporunities: enter new market like DIYThreats: competitors have a large market share

51/ Build a marketing plan d) Marketing mix

6

The 5 Ps are a set of recognised marketing tactics, which you can use in any combination to satisfy customers in your target market. Combining these different marketing tactics to meet your customers' needs and wants is known as using a 'tactical marketing mix'.

ProductProduct refers to what you are selling, including all of the features, advantages and benefits that your customers can enjoy from buying your goods or services. When marketing your product, you need to think about the key features and benefits your customers want or need, including (but not limited to) styling, quality, repairs, and accessories. For Sanicompact, you need to think about water saving, soft closed seat, and so on

PriceThis refers to your pricing strategy for your products and services and how it will affect your customers. You should identify how much your customers are prepared to pay, how much mark-up you need to cater for overheads, your profit margins and payment methods, and other costs. To attract customers and retainyour competitive advantage, you may also wish to consider the possibility of discounts and seasonal pricing. For Sanicompact, is it cheaper to buy 1 piece or to buy a WC + a broy ?

PromotionThese are the promotional activities you use to make your customers aware of your products and services, including advertising, sales tactics, promotions and direct marketing

PlacePlace is where your products and services are seen, made, sold or distributed. Access for customers to your products is key and it is important to ensure that customers can find you.You can set yourself apart from your competition through thedesign of your retail spaceand by using effectivevisual merchandising techniques. If you are not a retail business, place is still an important part of your marketing. Your customers may need a quick delivery turnaround, or want to buy locally manufactured products. Are Australian people are handymen ? Is the DIY market developed ?

PeoplePeople refer to the staff and salespeople who work for your business, including yourself.When you provide excellentcustomer service, you create a positive experience for your customers, and in doing so market your brand to them. In turn, existing customers may spread the word about your excellent service and you can win referrals.Give your business a competitive advantage byrecruiting the right people,training your staffto develop their skills, and retaining good staff. You also need to train the sales force

61/ Build a marketing plan e) Evaluate to good timingProduction DeliveryMarketing toolsTraining

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There a good timing to introduce a new product in the market. If your product replace an old one, make sure your stock is not too high. When introducing a new product on the market, make sure the production is done, your customer can be delivered quicly and your marketing tool are ready (packaging, complete information available on Internet, trained sales forces) before starting communicate on it71/ Build a marketing plan f) Product follow-upAre your marketing goals achieved ?Analysis the salesFocus on your internal range (cannibalization, seasonality, ). And on external background (market share)

Introducing a new product is a good thing but you need to measure this launch and be able to drive corrective actions if necessary8Agenda1/Build a marketing plan

2/Communicate9

First step for your business strategy is to build a marketing plan. You need to think about 6 steps. It will help to definie the content and the support 92/ Communicationa) Media kit Internet (web, newsletter, emailing, social network)Publicity (press, )Exhibition10

As I told you before, dont forget the agency might not know your company, your product and your customers. Youll have to explain the key points,

Inditity is blue => dont use too many blueBrand guidelines, accessibility compliance, arbitrary CEO whims - these are things we agencies need to account for. If you absolutely require it, we need to know about it.102/ Communicationb) Sales toolsCataloguesManualsVideo PackagingLeafletDisplays 11

As I told you before, dont forget the agency might not know your company, your product and your customers. Youll have to explain the key points,

Inditity is blue => dont use too many blueBrand guidelines, accessibility compliance, arbitrary CEO whims - these are things we agencies need to account for. If you absolutely require it, we need to know about it.112/ Communicationc) TrainingSales forceCustomers12

As I told you before, dont forget the agency might not know your company, your product and your customers. Youll have to explain the key points,

Inditity is blue => dont use too many blueBrand guidelines, accessibility compliance, arbitrary CEO whims - these are things we agencies need to account for. If you absolutely require it, we need to know about it.12Product manager fr.linkedin.com/in/paulinesayet

Pauline Sayet1313