Marketing Innovationfor Executive Learning

Soe Hein CEO- SME Business Institute Sales & Marketing Expert TrainingDirector- Bagan TradeMember- American Marketing Association soehein@sme.com.mm

SME Business InstituteSales & Marketing Expert

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Member of Association

“Business has only 2 functions Marketing and Innovation”.

Milan Kundera

Why study Marketing?exciting, challenging & rewarding.

Running the business demands many skills

•Financial•People Management (HRM/HRD)

•Strategic thinking (Management)

•Tactical operations (Administration)

•Marketing

MARKETING IN AN ORGANIZATIONLEADERSHIP

MARKETING

OPERATIONS

SUPPORT

Marketing is a subset of the organizational strategy and as such assists in meeting the objectives of the organization by ensuring that products/services are sold to the right market at a price that will ensure profit.

Strategy

Marketing is multi-faceted

Which area suits you best? Marketing includes a number of activities, including:

1 Research

2 Strategic planning

3 Product development & Branding

4 Consumer behavior & Pricing

5 Sales & Distribution

6 Advertising & promotions

Academic disciplines and marketingAcademic discipline Area of marketing relevance

EconomicPrice theory and strategyEconomic behaviorApplied game theory

PsychologyConsumer behaviorAdvertising messageSocial psychology

ManagementSegmentation strategyDemand analysisGeneral management strategy

SELLING VS MARKETING

Selling Marketing

- Introverted - Extroverted

- Inward Looking - Outward Looking

- Starts with the product - Starts with the customer

- Shorter time horizon - Longer time horizon

- About revenue this week - About profit this year

• Marketing is the activity, set of instructions and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners and society at large.

What is Marketing?

• It is not just “selling and advertising”;• It is the process by which companies create value for

customers• and build strong customer relationships in order to

capture value from customers in return.

Marketing Strategy

Your Marketing Plan SWOT Analysis Your Target Market

Product Development Branding Pricing

Marketing Management Exporting Retail

Cost-effective Marketing Choice of media

DEVE

LOPI

NG A M

ARKE

TING ST

RATE

GY Vision

MISSION STATEMENT

STRATEGY

TACTICAL PLANS

THE MARKETING MANAGEMENT PROCESS

Research

PositioningTarget MarketsSegmentation

Marketing Mix

Implementation

Control

Strategic

Tactical

SME Business InstituteSales & Marketing Expert

HOLISTIC APPROCH

ConsumersQualityValueServiceConsistency

SocietyCommunity involvementCharity supportFamily orientation

StockholderInvestment

EnvironmentRecyclableProducts from sustainable sourcesCSR to CSV

MARKET ANALYSIS

Future Market

Potential Market

Target Market

Current Market

MARKET SIZING

Potential Market

Available Market

Qualified Available Market

Target Market

Penetrated Market

CUSTOMER VALUE PROPOSITION (CVP)

- Define customer needs that the firm is trying to meet

- Identify at whom it is targeting its activities

- State why the firm is different from the competition

- Explain the benefit of this difference to customer

- Indicate how the firm will provide its offering

4 Ps of Marketing ?

Marketing is all about giving the customer what they wants1953 to Now

1. Product The properties of your services2. Price The right price and value3. Place Availability4. Promotion Informing customers in a manner

that they understand

Being customer focused

Expanded 4Ps• People• Process• Physical evidence• Planet

Result of Careful Planning and Execution using state-of –the-art tools and techniques. It becomes both an art and a science as marketers strive to find creative new solutions to often-complex challenges amid profound changes in the 21 st century marketing environment

Good Marketing is no accident

86 % Skip TV ads

44 % Direct mail is never opened

91 % Unsubscribe

200 Millions ...0

50

100

150

200

250Millions

86 % Skip TV ads

44 % Direct mail is never opened

91 % Unsubscribe

200 m Say DO NOT CALL

Choosing a Market

• Only small portion of the population is interested in your product

• You waste time & money by trying to market to everyone

• Identify a niche target market & focus on just them

“You can’t be everything to everyone”

Branding Profiles of major media types

Print - Newspaper

Flexibility; timeliness; good local marketcoverage; broad acceptability; believability

Short life; poor production quality

Television Good mass-market coverage; combines sight, sound, and motion; appealing to the senses

High absolute cost; high clutter; less audience selectivity

Radio Good local acceptance; high geographic and demographic selectivity; low cost

Audio only; low attention (“half heard”); fragmented audiences

Print - Magazine

High geographic and demographic selectivity; credibility and prestige; quality production; long life; good pass-along

high cost; no guarantee of position

Outdoor Flexibility; high repeat exposure; low message competition; good positional selectivity

Little audience selectivity; creative limitations

Online High selectivity; low cost; immediacy; interactive capabilities

demographically skewed audience; audience controls exposure

Medium Advantages Limitations

Strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience and, ultimately, to drive profitable customer action.

www.sme.com.mm

Innovationdistinguishes between a leader and a follower

A wise person is full of QUESTIONS !(ပညာရသည ေ�မးရန ေ�မးခြ�န�းမား ��ပည�ေ�နသ

ည) A dull person is full of ANSWERS !( ဥာဏထ င�းသသည ေ���ဖရန ေ���ဖမား ��ပည�ေ�န

သည)

Soe HeinCEO – SME Business Institute (Sales & Marketing Expert Training)Director- Bagan TradeProfessional Member of American Marketing Association soehein@gmail.comsoehein@sme.com.mm09 26000 9299# 422, Thein Phyu Road, Mingalar Taung Nyunt Tsp. Yangonwww.sme.com.mm