Entrepreneurial Marketing Prof. Dr. Steffen Schwarz

1. EntrepreneurialMarketingProf. Dr. Steffen Schwarz

2. Contents • Generation Y • Marketing Concept • Marketing Targets • Marketing Strategy • Marketing-Mix • Product • Price • Place • Promotion • Your Marketing Concept

3. Context : The Generation Y

4. Generation Y – Some Facts • Approximate Population % (2010) • Canada 20.5% • US 20.8% • France 19.4% • Germany 17.5% • Italy 17.4% • China 25% • India 27.7% • Japan 18.2% • Russian Federation 24.5% • UK 19%

5. Generation Y – Some Facts • Typically aged between 12 and 27 as at 2010 • Post 18 years old are less likely to leave the parental home – 30+! • Spend more time sleeping than any other generation (male 9 hours per day, female 9.2 hours per day) • Spend less time eating per day.

6. Generation Y – Some Facts • Spend almost 50% less on housework than previous generations and are more likely to pay for domestic help. • Spend more time studying than previous generations and are career driven - ambitious • Travel more than previous generations. • Majority remain single until they are in their mid-late 30s.

7. Generation Y – Some Facts • Generation Y spend almost 50% more time per day on leisure activities than any other generation. • 50% more time on social activities • However, Generation Y are more culturally aware than previous groups and more likely to be interested in Theatre or live entertainment.

8. Analysis of Market and Competition Marketing Conception Marketing Targets Marketing Strategy Activities: Marketing-Mix Realization Product Price Place Promotion Controlling Informations from the analysis of market and competition are the basis of the marketing conception .

9. Conception Market Demand Target group and region  Number of customers  Demand Competition Number of competitors Importance of competitors Market-Potential Volume of Competition PLUS MINUS Sales Planning Market andCompetition Modules for Sales Planning

10. Levels of Marketing Conceptions Conception Levels: Basic Questions: Marketing Targets Determination of desired places Where do we want to go? 1. Level Marketing StrategiesDetermination of the right road How do we get there? 2. Level 3. Level What do we have to do? Marketing MixDetermination of the transport system

11. economical psychological • Sales figures • Turnover • Profit • Growth Rate • Market Share • Costs • Distribution • Brand Awareness • Image • Corporate Identity • Trust • Competence • Customer Satisfaction 1. Level: Marketing Targets Strategic Corporate Targets OperationalCorporate Targets Marketing Targets

12. Marketing Strategy 2. Level: Marketing Strategy Marketing Strategies define the path how to reach the Strategic Marketing Targets of a Company. They show the middle and and long term focusses in Marketing, especially concerning the behaviour towards customers, intermediaries (e.g. retailers, wholesalers) and competitors.

13. Marketing Strategies – Customer Focussed Strategies

14. Market Stimulation Strategies DiscountingStrategy: Lowestcoststructure in comparisontocompetitors, e.g. Southwest Airlines, Air Asia Premium Strategy: Betterqualityand additional benefitswhichallowtocharge a pricepremium, e.g. Bang & Olufsen, German premiumcarmanufacturers. More forLess: Youcaneitherfocus on a marketniche, like German „hiddenchampions“ e.g. in engineconstruction do worldwideoryoucombinelowpriceswithspecialqualityfeatures, e.g. H&M, Zara in retailclothing.

15. Discounting Strategy www.hotel.de www.hotel.info Premium Strategy http://www.thomassabo.com More for Less www.avocadostore.de „Your market place for eco fashion and green lifestyle"

16. 3. Level: Marketing Mix • The 4 P´s: • Product • Price • Place • Promotion

17. Customers wants & needs Costs Product Price Place Promotion Convenience Communication „4 Ps“ Company View --- „4 Cs“ Customer View

18. Product Policy in broader sense Product policy Product mix policy Service policy Guarantee policy • Quality • Basic benefit • Additional benefit • Packaging • Product image • Design • Prestige • Brand policy • Product mix breadth • Product mix depth • Product elimination • Diversification • Service before sales • Service after sales • Service within the product • Commercial service • Technical service • Amount of service • Content • Timing • Kaufgarantie • Complaint management

19. One product is not enough http://www.sbaggers.de http://www.dyson.de

20. Decisions in price policy: • Price fixing  Methods to calculate the price • Price positioning  Decision e.g. on premium or discount price • Price differentiation  Different prices for target groups (e.g. students, seniors, B2B, B2C), quantities and usage times • Price strategy  Prices before, during and after launch

21. http://www.build-a-bear.de

22. Place: Distribution- and sales-policy How to bring products/services to the customer in the right quality, quantity and time Marketing instruments: (Online-) shop, own sales force, agents, printed catalogues, phone sales, franchising, type of transport, etc.

23. www.designoffices.de http://berlin.the-hub.net

24. Promotion policy What should I tell different target groups about me and my products/services via which channel? Marketing instruments: Public relations, advertising (-channels), sales promotion, sponsoring, events, product placement, etc.

25. Sponsoring Product Placement

26. Sales Promotion: Trousers control of ALBERTO company „Police woman“ of ALBERTO checked man trousers. Minor qualities were „punished“ with a coupon for winning a pair of ALBERTO trousers in a local shop. Event: Red Bull Air Race

27. Tony Hsieh: Delivering Happiness http://www.zalando.de http://www.zappos.com Internet banner advertising

28. Your Marketing Concept Describe your target group exactly How does your market and competitor analysis look like ? Describe your marketing targets Describe your markteting strategy Describe your marketing-mix (4-7 P´s) in detail Renew your Marketing concept at least once per year