Marketing crash course
- Tags: #permanent-notes
- Relevant Notes
- Marketing is about communicating value to your customers and connecting with them–why should they care? How we create vallue to these customers?
- Customer research
- This involves learning about your customer.
- Explore the following: 1.) Demographics, 2.) Geographic, and 3.) Psychologic.
- Competitive research
- Learn about the different competitors in the same field. Once you learn, ask: will I do it better or different?
- What makes you different or better?
- Look at the top 20% of customers and create persona avatars.
- Find businesses most fun, profitable, what makes it better, easy to sell, high demand, sustainable
- Marketing message media alignment match
- This involves “tailoring” to marketing.
- Lifetime customer value
- This considers the value of customer to the business. Think of this: How do you want to “market” to these?
Marketing basics for business
- Customer research - Demographic, geographic, psychologic
- Competitive research - Do it better or different?
- Specialization - Better to be in a category of 1; levels: generalist, specialist, extreme specialist, celebrity
- Differentiation - Different is better than better, Why you? What makes you better or different?
- Positioning - Where your place is in the marketplace, positioning map
- Segmentation - Look at customer; identify and create avatar; look at top 20% of customers
- Concentration - Find businesses most fun, profitable, what makes it better, easy to sell, high demand, sustainable
- Pricing - Cost-based (raise to bottom) vs value-based (subjective)
- Market message media alignment match - how well you identify avatae, where you locate them
- Lifetime customer value - allows value of customer to business, how much do u want to attribute to marketing here?
Introduction to marketing
- Why people act and do what they do? How do we convince them?
- What marketing is not
- Not advertising, advertising is marketing
- Marketing is made of different parts such as marketing (copywrite, direct response, etc.) find one you want to specialize in
- Marketing is made of subsegments (email marketing, social media)
- Four piece
- Product - details around product
- Place - where product is sold
- Promotion - fun stuff, how you sell more of product
- Marketing is communicating value to your customers, why should you care?
- About connecting with people
- Creative value for your customer (make someone laugh, how packaging is delivered)
- Not all marketing is created equal
- Spamming, over-to-top, looks cheap, promotes bad product
- Good marketing helps people achieve their goals
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