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Peterborough Marketing Session Summary

The following summarises 5 of the key points covered in the Peterborough Marketing Taster Session held at the Eco Innovation Centre.

What is marketing  –

  • a very big question and we summarised it by SCP (satisfying customers profitably)

Why do Customers buy from you

Looking at the 5 L model developed by Bob Hogg

  • Live – those businesses / people you currently do business with
  • Loyal – those who love to purchase from you
  • Likely – the element that many focus on first – due to the thrill of the chase and naivety
  • Lapsed – those who we fought hard to get but who haven’t purchased again
  • Lost – those who have dropped out of our radar and are buying elsewhere

Decision making process and influences

Is your product or service FIT for purpose

  • Considering segmentation – the process of breaking the market into smaller groups of people who exhibit similar needs. So that we can identify what the exact needs of the segment are
  • Considering what makes up your product or service from the perspective of
  • Core benefit – problem solved for the customer
  • Actual product – the physical design / functionality
  • Augmented – warranty / after sales service / branding
  • Potential – future developments
  • Where is the product in its product life cycle
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The importance of being different

  • Are you just the same as your competitors or do you have a Blackpool Tower factor
  • Looking at the issue of direct, indirect and future competitors
  • Establishing where you are positioned in relation to your competitors against the factors of pricing and perceived user value

Why a marketing action plan is important

  • the importance of having an effective strategy (doing the right things) and combining it with efficient tactics (doing things right)
  • Looking at your business from a customer and product perspective in order to identify which approaches are market penetration – doing more with your existing customers
  • product/ service development – identifying what new developments could be offered to your existing customers
  • market development – which new customer segments could you target
  • diversification – do you need to offer new products to a new target audience

How to get found on the web

  • What is the search engine of choice – almost 100% use Google
  • 4 key factors to get found on the web
  • make sure its for a highly relevant term
  • make sure that there is actually traffic for that search term
  • choose a term that isn’t massively competitive
  • make sure that if you get found for the term it has commercial significance
  • What happens when a visitor arrives at your website?
  • Can you use offline activities to get people to your website

How to ensure your advertising isn’t a waste of money

Far too much to cover in this summary so I will produce a separate detailed document. E mail and mark subject as ‘Advertising a waste of money‘ and I will send you the report

In summary: An approach for marketing Return on Investment

  1. Know your target customer
  2. Make the offer and message relevant
  3. Select the relevant media
  4. Establish what action do you want them to take
  5. Measure

Peterborough Marketing

For more information on marketing techniques and tactics click here. To contact Andrew Goode a Fellow of the CIM and discuss your marketing and sales issues and challenges click here

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