Some Basic Objectives related to the Wise Selection of Markets for a Company’s Products and Effective Marketing to these Markets

Introduction

1 These notes explain meanings for the following important marketing terms:

(a) Potential Target Market,

(b) Target Market, and

(c) Untargetted Market (either Deliberate or Non-Deliberate)

2 To some Readers these terms may sound complicated and appear like hair splitting. However the terms and the difference between them have some important implications for Executives who wish to market well. The two examples below (commencing paragraph 6) show this point.

Some Basic Objectives

3 Companies should investigate how well they market; but, in doing so, Executives sometimes do not investigate how well they achieve the fol­lowing two major marketing objectives:

(a) Decide to whom the Company (or Branch) should try to market which of its products.

(b) Decide to whom the Company should not try to market which of its products.

4 Executives should realise that their Company makes decisions about how to achieve (or not achieve) these objectives by the way their Staff act. Sometimes Executives do not realise the effect that the actions of their staff have on the above objectives.

5 The following two examples highlight some points related to the above objectives. Marketing Executives should consider whether their Companies have similar examples.

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Rules of Thumb as Standards for evaluating Marketing Activities

Introduction

1 A group of Managers decided to exchange some ideas on “rules-of­thumb” standards for use in evaluating the marketing performance of Or­ganisations.

2 Members listed ideas they used to “keep watch” on their operations.

3 The following section lists the items – in no particular order.

4 However the list really identifies the factors different Managers look at. They do not identify a point or band on the factor scale which identifies an acceptable performance.

Factors

5 Number of Invoices produced per day.

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Additional Activities to include in a Marketing Audit

1 Find Company Objectives (if any in writing).

(a) Deduce/Find Marketing Objectives.

(b) Evaluate wisdom of objectives.

2 Establish the resources available to the Marketing Department (for individual parts of Marketing activities).

3 Evaluate whether resources (e.g. manpower) will prove -

(a) sufficient to achieve objectives and

(b) adequately organised/balanced – for each individual Marketing activity.

4 Seek documents which will establish the Organisation’s

(a) Five-Year Plan

(b) One-Year Plan

(c) Marketing Plan

(d) Budget

(e) Organisation Structure.

5 Identify limiting factors.

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Some Points about improving Productivity in Marketing Activties

Introduction

1 The following points arise from a discussion between a group of Sen­ior Managers, not all of whom have worked, or do work, in a marketing section of an Organisation.

2 These notes aim to provide thought starters for Readers and not an exhaustive treatment of the subject matter.

3 For ease of reference the notes group the ideas under various dif­ferent marketing activities.

Some Questions to use to help find Opportunities for improving Produc­tivity In Marketing

4 The following questions may help to stimulate thinking about im­provements.

5 How can we avoid mistakes in the future?

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Questionnaire – Provide Better Service to your Customers

Introduction

1 The following questions aim to help those who try to answer them to improve certain aspects of the marketing activities which their Organi­sation aims to carry out.

2 Some questions imply that a group of people (a Syndicate) have the job of answering the questions.

3 In the case of a group, probably it will prove better for each indi­vidual to answer the questions independently and then compare their an­swers and discuss why differences exist. Then the group can try to es­tablish whether real differences exist and, if so, what implications the differences have for achieving better marketing by their Organisa­tion.

Questions

Your Customers and your Products/Services

4 Who do you rate as your Customers?

5 What do you aim to supply (sell) to them?

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Marketing to the Government and Similar Organisations

Some Possible Topics for Discussion

Introduction

1 The following questions arose from a discussion among Senior Execu­tives from a variety of Organisations on this topic.

Some Questions

2 What marketing information will help sell to Government Personnel and/or Departments?

3 What help would the Organisation obtain if it analysed the more suc­cessful tenders and/or tenderers to check whether any common patterns and approaches distinguish the successful from the unsuccessful? What information would such an analysis probably show?

4 What can Suppliers do to help a Tenderer prepare an effective ten­der?

5 Would more knowledge about bidding processes and theory help the Or­ganisation to market better?

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Profit through Partnership – Marketing better through the Staff of Distributors

Introduction

1 These notes aim to provide information on the Profit Through Partnership (PTP) approach which won the first Hoover Marketing Award for  a Company  They discuss the underlying principles and some of the details used in applying the principles.

Who Influences The Sale Of Your Products

2 Many Companies sell their products through Distributors.The ultimate Consumer comes in contact with people who do not work for the actual Manufacturer.

3 This situation applies particularly to retail outlets. A Company will want the Sales staff who talk to Customers to have a favourable attitude towards its products and itself.  Even in supermarket operations, where the Supermarket Staff do not have a great deal of contact with Customers when buying, the Company manufacturing the goods will want to have a favourable image with the Store Staff in order to gain some advantages, including a place in the shelved  [1].

A Profit Through Partnership Program

4  The underlying principle of the PTP (Profit Through Partnership) program involves identification of the needs of the people that the Company wishes to influence. Marketers should try to satisfy the needs of such people and, preferably at the same time, satisfying some of their own.

5  On Company  used this principle in their PTP Program. This Company sold venetian blinds through a variety of retail outlets – from very small suburban stores to large departmental ones. They realised that all these stores and their Staff had a need to improve their salesmanship. If they could improve their salesmanship the store and its Staff could sell more products – including venetian blinds.

[1] However, many store staff including Store Managers have little say in what their store can stock.

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Marketing to the Factory Floor

1 Many people influence which industrial products an Organisation will buy. Marketers often give attention to personnel from purchasing and the managerial ranks in the factory. However sometimes they neglect opportunities to influence people on the factory floor – people who fi­nally will use their products.

2 One interesting marketing approach involves putting on a night for Factory Operators. At such an evening, Representatives explain to the Operators the various methods of getting the best results from the product.

3 In addition Representatives should gather information from Operators as to how the Organisation might:

(a) find better ways of using the product,

(b) learn different uses,

(c) learn of needs for new products which the Organisation might develop.

4 Naturally the evening would also provide some suitable refreshments for the Operators and allow Representatives and other Personnel from the Representatives’ Organisation to get to know the Operators better ­and vice versa.

5 One Organisation tried this idea and found that acceptance of their product changed for the better overnight – almost as if they had pro­duced a new product – which they had not done so.

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Does your Company waste Money in the way it quotes?

An Example where a Company wasted Money

1 We sought some partitions for our new offices and approached three Companies to gain a rough idea of costs – something like so much per linear metre. If they had given a range of figures we would have had some useful information.

2 However the three Companies approached refused to give information over the phone. They said – “send in the plan and we will give you a quotation”.

3 We felt rather frustrated but decided to carry out their request.

4 However, at that stage, we had not decided on a plan of our offices. Thus we prepared a simple plan of four offices and asked them to quote on it. After some follow-up we received four quotations which allowed us to work out a rough figure of cost per linear metre.

5 We then arranged to see the Representatives of the two Companies. By that stage we had planned the offices. We apologised that they would now have to quote on the right plan.

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Market Segmentation

Introduction

1 The following provides some outline notes on Market Segmentation. Some of them come from the ideas discussed by Kotler in his book “Marketing Management”.[1] They aim to provide a basis for discussion rather than a set of notes which stand alone.

A Meaning For Market Segmentation

2 Segmenting equals dividing a (product) market into parts (= segments).

3 Thus the minimum number of segments equals the number of people (organisations) in a Market. (Example. An Airplane Manufacturer could treat each airline as a market segment.)

The Objective of Market Segmenting

4 The objective of Market Segmenting: Find differences among Buyers to help

(a) choose between them

(b) market differently to them.

5 Thus Marketers seek groups (= segments) who differ in:

(a) Product Interest

(b) Interest in different Marketing Approaches

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