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4MD3 Business to Business Marketing

4MD3 Business to Business Marketing. Steve Howse, C. Dir February 2, 2009. Steve’s Tip. Have an elevator pitch 3 minutes on who you are Two ways: Historical growth Who I am and how I got here 10 minute version to overview your CV. Segmentation Targeting Positioning The 4 Ps.

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4MD3 Business to Business Marketing

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  1. 4MD3 Business to Business Marketing Steve Howse, C. Dir February 2, 2009

  2. Steve’s Tip • Have an elevator pitch • 3 minutes on who you are • Two ways: • Historical growth • Who I am and how I got here • 10 minute version to overview your CV

  3. SegmentationTargetingPositioningThe 4 Ps

  4. INTRO TO PROMOTION • three classes • overall aspects of Promotion aka IMC • Advertising • Sales Promotion and Publicity • Direct Marketing • Personal Selling

  5. PREVIEW OF PROMOTION AND ADVERTISING SECTIONS • the elements of Promotion • how IMC differs from Promotion • BM/CM promotional differences • intro to Advertising • advertising in trade publications & directories • and in broadcast media • making your business ads “sing”

  6. THE ELEMENTS OF PROMOTION • advertising • sales promotion • publicity • personal selling • direct marketing

  7. MORE ON PROMOTION • each element contains media • each medium contains vehicles • use all three in combination   • but that requires coordination

  8. INTEGRATED MARKETING COMMUNICATION (IMC) • Also known as MARCOM • gives the required coordination • by stating product position consistently • Marcom Manager is in charge • high-level objectives of IMC • predispose customer to action • get customer to take action

  9. BM/CM DIFFERENCES – PROMOTION IN GENERAL • business promotion never creates a product position   • the “theme” is more rational • promotion smaller percent of revenues • personal selling dominates promotion • “mass” elements of promotion are secondary • advertising is dominated by magazines   • sales promotion by trade shows

  10. BM/CM DIFFERENCES – MASS/NON-PERSONAL PROMOTION • primary goal is to support the sales force by… • generating sales leads   • creating a suitable selling climate   • conveying simple information • secondary goals • "creative" more often done in-house  

  11. ADVERTISING • represents about 55% of the 25% • creates awareness • creates positive attitudes i.e. preference • inspires action • long ad-to-sales lag • trade publications and directories dominate • ad costs vary widely

  12. TRADE PUBLICATIONS • vertical trade mags  • horizontal trade mags • hybrid trade mags • use CARD in all cases • most publish annual "buyers' guide“ issue • "controlled circulation" is common  • ability to tailor message is limited • ability to get response is limited

  13. CHOOSING THE RIGHT TRADE PUBLICATION • identify candidates • request kit • count qualified readers • determine ad cost • calculate raw cpm   • adjust using effectiveness data • make choice based on adjusted cpm

  14. TRADE DIRECTORIES • they show manufacturers by product • used by designers & purchasing agents • Canadian examples   • the listings are free • the ads are not • can’t change message quickly • good for research  

  15. BROADCAST MEDIA • more logical when business product widely used • also good for reaching consumers • i.e. for ”telescopic marketing” • also for reaching employees and neighbors • wastage high but raw CPM low

  16. MAKING YOUR BUSINESS ADS “SING” • focus on conveying your positions • just one or two • use similar words every time   • show your position in the "head" • and in the picture   • and in the picture caption   • and in the body copy • use sub-heads  to break up body copy • use pictures of people

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