Marketing

What a resource: check out this list of 250 top blog posts on advertising, marketing, media, and PR. I got the tip from Seth Godin’s blog post of last week, which started with that list, and then highlighted his top 20 favorites from his blog.

Add Duct Tape Marketing to that list, and you have the ultimate course in 21st century marketing.

I had lunch yesterday with one of my favorite people in the textbook publishing industry. Seeing this list today, again, and thinking about that lunch and the world of textbooks reminds me, it has to be hard to sell a marketing textbook these days, when the really good stuff is coming up every day in the blogs.

And it has to be hard, from the professors’ point of view, to select and recommend marketing texts costing the students $100 or more, when the real world is happening so much faster on the web.

Marketing, advertising, social media, branding … it’s hard to draw the lines. What’s what? I like this post on Conversation Agent (although not its title) because it draws some useful distinctions. Taxonomy, the science of naming and classifying things, isn’t that important. But it helps to use the right words and phrases, so that other people know what you mean.

Click here for the PowerPoint slides.

Click here for the sample Business Plan Pro file

  1. Review issues from previous class.
    • Additional resources for the market analysis assignment
    • Grading discussion: your own plan vs. group plans.
    • Readings: are you keeping up with the readings. What did you think about marketing vs. branding, in the readings?
  2. Discussion: John Jantsch defines marketing as getting people to know, like, and trust you.
  3. Discussion: What’s branding? Personal branding? Why does it matter? How is it different from marketing?
  4. Discussion: differentiate marketing vs. sales.
  5. Discussion: using the class example from last time (the art theater). What kind of marketing would be appropriate? Advertisements, where? Flyers? Direct mail? Email?
  6. Slides: Marketing Your Business
  7. Discussion: how does segmentation fit into this
  8. Discussion: how is marketing changing. New media: blog, twitter?
  9. Discussion: marketing expense levels. What’s appropriate? How to tell.
  10. Discussion: marketing strategy pyramid

In this session you will learn:

  • How marketing is different from sales
  • How to create a “brand” for your product or service
  • How to best reach your ideal customer/target market

OVERVIEW:

Knowing about your market isn’t enough. You also need to decide who will be your customer, how you will find new customers, what you will offer and how you will keep them as your customers. Then you will have the strategy you need to market your business.

DEFINITIONS

Advertising:  The paid promotion of a product or service, in print, TV, or other media.   (Answers.com)

Branding: To create a name, symbol or design for a product which sets it apart from other products. (Entrepreneur.com)

Marketing: The set of planned activities designed to persuade the purchase choices of people for your product or service. (page 367, The Plan-As-You-Go Business Plan)

Sales: Exchange of goods or services for an amount of money or its equal value. (Webster’s Dictionary)

Marketing Strategy:

  • Choose which groups of people you want to target within your market
  • Decide on the message for the target market
  • Estimate what will it cost to create the message
  • Choose the best method to reach this target market
  • Plan the cost to put this strategy to work for you
  • Decide how to get your customers to ‘Know, Like and Trust’ you (John Jantsch, Duct Tape Marketing)

Public Relations:  Using the news or business press to carry stories about your company or your products which promote a positive image to your customers and the public.  (Entrepreneur.com)

This link provides an example of advertising, promotion, public relations and sales and how they are different.

Social Media:  A shift in how people find, read, and share news and information. It combines social and technical aspects to go from monologue (one to many) to dialogue (many to many.)  (Wikipedia.com)