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HS285: Marketing Management Class Six June 13, 2013

HS285: Marketing Management Class Six June 13, 2013. Beth Goldstein. Today’s Class. Start-Stop-Continue Chapters 17 – 18 Healthcare for Homeless Creating a Brand Guest Jennifer Powell. Start-Stop-Continue. Start doing XYZ. This is something I haven’t done at all or enough of

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HS285: Marketing Management Class Six June 13, 2013

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  1. HS285: Marketing Management Class Six June 13, 2013 Beth Goldstein

  2. Today’s Class • Start-Stop-Continue • Chapters 17 – 18 • Healthcare for Homeless • Creating a Brand • Guest Jennifer Powell

  3. Start-Stop-Continue • Start doing XYZ. This is something I haven’t done at all or enough of • Stop doing XYZ – This is something that isn’t helping you • Continue doing XYZ – This is something that is very helpful in terms of your business success

  4. Updates • Social Media Critiques: June 20 • How’s this going? • Marketing Director Interviews: June 27 • Does everybody have a partner? • Marketing Director?

  5. Healthcare for the Homeless Case • How is branding differentfor non-profits? • Same?? • Do non-profits see branding as something only for profit companies strive for?

  6. HCCH • Do they need a new brand image? • What else needs to change at HCCH?

  7. HCCH Stakeholders • What matters to each stakeholder? • Patients • Donors • Volunteers • Staff & Board of Directors

  8. Consultants’ Recommendations • What do you think of the recommendations? • YOU BE THE CONSULTANT

  9. Group Assignment Present a marketing recommendation: • ONE SMART Goal to achieve in the next year that supports sustainable growth and aligns with stakeholder values • Create an Elevator Pitch (30 second) • Name, tagline & logo recommendation • Explain how they should execute your recommended strategy

  10. What happened… • Now recognized by Fed’lgov. as a provider of healthcare services for the homeless and the ‘housed but uninsured’ • More supportive internally of marketing & branding efforts • New website, social media and email marketing to improve communication • Let’s Check It Out and See…

  11. Why Do People Buy YOUR

  12. Consider these brands…

  13. Tendency to move to sameness • Audi matches Volvo in safety ratings… • … and Volvo turns naughty?

  14. Blurring distinctions…

  15. Innovators celebrate their strengths • … while being up front about what is missing

  16. Consider… Starbucks Meals Comfort Specialty coffees

  17. Consider… Starbucks vs. McDonalds… Meals Comfort Specialty coffees Meals Comfort Specialty coffees

  18. McDonald’s / Starbucks • McDonalds adds premium coffees…

  19. McDonalds / Starbucks • … And Starbucksaddsfood items

  20. Competition • Understanding your competitorsis critical…

  21. Competitor Analysis • It’s also critical to evaluate who or what they might become… • … What they will do to react to you?

  22. Anticipating Competitive Actions • Competitive intelligence – difficult to do… but critical • Always involves using imperfect information • 1st– know what you need to know

  23. Motivation Future Goals What do they say – on their web site… at conferences? Assumptions Held about itself and the industry Actions Current Strategy How are they competing now? Price, service? Apparent Capabilities Strengths and weaknesses What to consider

  24. Where do you find competitive information? • Staff knowledge • Company materials • Annual reports, websites, marketing materials, speeches at conferences, press releases and announcements, government filings • Industry materials • Analysts reports, newspapers, trade journals, conferences • Shared connections • Shared industry resources, distributors, customers • Your sales force

  25. How will competitors react to you? • Consider Behavioral factors – remain objective • Don’t assume they are not smart • Don’t assume a few facts represents a study • Consider potential for non-rational actions

  26. Biases that can cause trouble… • Overconfidence • Overestimate own capabilities and underestimate those of others – • “… We’re Second to None…” • Confirmation bias • Embrace data that confirms your thinking • Dismissing data that refutes it…

  27. Price Conveys a Brand Message • What’s Your Price Say About You?

  28. Thoughts on pricing • Tends to be the one least managed of the 4 P’s of marketing… though its impact can be most significant • A 1% increase in price (assuming no impact on demand) would increase net income of: • 6.4% for Coca Cola • 16.7% for Fuji Film • 17.5% for Nestle • 26.0% for Ford Motor Company Source: Principles of Pricing,Dolan, Robert J. and Gourville, John T. 2006

  29. At the store.. • Hypothetical coffee maker choice $39 $59 $89 $109 $129

  30. Pricing • Pricing decisions are critical • Not just cost-plus – think VALUE • Structure of pricing – or options – can have significant impact • On revenues • On profitability • Pricing also sends a message about your positioning and your brand

  31. Distribution • What role does this play in your companies? • What’s it tell your customers?

  32. Two Different Brand Experiences

  33. Effective Branding Touches All Points • User Interface

  34. The Purchase Experience

  35. Packaging

  36. A Different Experience… From the Start X You Had Me at Hello?

  37. They Say Imitation is the Most Sincere Form of Flattery….BUT REALLY! Microsoft:The new Apple – Wannabe????

  38. A Strong Brand is a Powerful Asset • Enduring Brand Power comes from a consistent value proposition …delivered at every customer touch point!!!

  39. 5 Tips To Reinforce Your Brand

  40. 1. Determine Your Value Proposition • What’s our current position in the market? • What’s our ultimate direction? • What makes us unique? • What needs do we fulfill?

  41. 2. Align Customer Needs with Value • What is the true value we offer? • Do we SOLVE problems or CREATE opportunities? • Do we align our brand with the right customers and fire the rest?

  42. 3. Focus on Your Competitive Advantage • What sets us apart from the competition? • Are we just-as-good or better than the competition? • Are we unique enough to command a premium?

  43. 4. Align Distribution & Price • What sources do customers use to make purchasing decisions? • Does our price reinforce our value or clash with it? • Do our distribution channels match customer needs?

  44. 5. Communicate at Every Touchpoint • How do we communicate our brand value to others? • Does everybody support THE message? • Does our message reach all of our customers and prospects?

  45. YOUR Sticky Brand • Three-word sentence that describes your business/organization’s brand value – do thisindividually Examples: • Accelerate client growth • Increase client productivity • Improve customer loyalty

  46. Now in Teams: Elevator Pitch • Your name and company • A briefbut compelling statement about your product’s or service’s value or benefitas it relatesto this person • A concise description of your product • A statement that reinforces your credibility – offers proof of your unique expertiseOR • A statement about what makes yourproduct or service unique • Your personal energy and passion

  47. Welcome Jennifer Powell • The Excellent Writers Group • Formerly with the Boston Heraldwww.excellentwriters.com

  48. Next Class Assignment: June 18 • Book: Lucky By Design: Chapters 19 – 21 • Case: United Breaks Guitars • Article: • Selling to Millennials with online reviews • Adding Social Media to the Marketing Mix • Worksheets Due: • Worksheet 20.1: Choose Your Tools

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