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Growing Gloucestershire Conference

Growing Gloucestershire Conference. Delivering a new product to the market-from scratch Speaker John Taylerson. Growing Gloucestershire. Marketing Introductions Marketing, what is it? Why it is important How it is much more simple than it sounds How will you know if it is working

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Growing Gloucestershire Conference

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  1. Growing Gloucestershire Conference Delivering a new product to the market-from scratch Speaker John Taylerson

  2. Growing Gloucestershire Marketing Introductions Marketing, what is it? Why it is important How it is much more simple than it sounds How will you know if it is working Some issues about starting from scratch Questions

  3. Speaker John Taylerson FCIM, MBA, Chartered Marketer Currently re-launching owns and runs TAYLERSON˚S MALMESBURY SYRUPS Started from scratch to putting product on-shelf in John Lewis Oxford Street in under 12 months

  4. Can you guess where its made?

  5. A 1 litre bottle of syrup can multiply in value X 3.3

  6. Not every flavour is a good idea?

  7. Milk can be found in one of these

  8. And can also be found in one of these + goats, sheep, soya, oats, rice in fact, apart from a stone, if you squeeze most things hard enough liquid will flow out; whether it’s fit to put in your coffee is entirely up to you.

  9. Milk Varieties Source: Fitness Treats 2012

  10. Increase convenience and reduce waste Dairystix give customers a way to add milk on the go – perfect for their cup of tea Dairystix are made from pure UHT milk so no spoilage and increased portion control i.e. they last 6 months and don’t use up fridge space

  11. The Chartered Institute of Marketing? Largest professional body for marketers Founded in 1911 • Aim: to help marketers throughout their careers • 45,000 members • Membership, Qualifications, CPD, Training, Events

  12. MarketingOur definition The management process responsible for identifying, anticipating and satisfying customer requirements profitably. Responsibility of whole company Future sales “ “ Now Understanding what they value Needs Sustainable The Chartered Institute of Marketing, 2009

  13. Put another way… “The right stuff” • Right products and services • Right people • Right time • Right price • Right promotion • In return for the right level of profit C

  14. Why is it important • Knowing • Who • Where • When • Why • How often • How much • How different The management process- risk management Cost of sale- The Gross margin calculation!

  15. Simples? You only need to know… 3 things about marketing?

  16. 1 Segmentation • Dividing the market into subsets of customers/consumerswho have common needs, wants, desires, medication, hair colours, cars, hobbies, children, garages, holidays, wives, husbands, problems, diets, travel, ties, greenhouses, music taste, political affiliations, pets, gardens, pests etc……….

  17. 2 Targeting • Where are these customers hiding? • Where can you get at them most effectively • Cost of sale……. Just because you found a gap in the market doesn’t mean there is a market in the gap!

  18. 3 Positioning • Why are you different to everyone else- difference • Price, provenance, packaging, personality ………etc…..

  19. How does this all work Segmenting, targeting and positioning all key to F&D But so is cash! Investing new products should mean inventing new sources of revenue… (where from? who from? why from?) Food and drink is the single biggest manufacturing industry in the UK- and people keep eating and drinking

  20. New products • What is a new product? • Augmenting the existing? • Adapting to meet new needs • Start from scratch- new • Buy someone else's model and adapt it Ansoff matrix more to existing find new customers for existing new products for existing new products new customers

  21. Ansoff Matrixa simple way of deciding what to do next?

  22. Sources of inspiration? What is a good idea? • How to test? • Is it objective? • Has someone else already done it? • If they haven’t, why not? • Leader or follower (no shame in following)

  23. Start from scratch? Advantages Disadvantages No cash No customers No goodwill No contacts No awareness No systems No people No knowledge • New rules • No legacy costs • Re-position, start from somewhere else • Potential for lower costs, lower cost base- (fixed and variable) • Ability to change and adapt

  24. Money • Sunk, fixed and variable costs • Cash flow • P&L • Balance sheets All should be key to a marketing plan

  25. The Markets for food & drink • Food service • County show milk bars • Hotels restaurants bars • Offices • Institutions • Retail • John Lewis, Waitrose, • Direct on-line- and via Amazon

  26. Marketing process:

  27. Marketing process- put another way Do more of what works Do less of what doesn’t Not as obvious – do you know what works and what doesn’t? Worse- some stuff that doesn’t work might facilitate the stuff that does…….?

  28. Thank youQuestion Time

  29. Contact www.malmesburysyrups.co.uk www.dairystix.com coffeesyrups.wordpress.com/ www.facebook.com/pages/Dairystix www.facebook.com/coffeesyrups @dairystix @JTMalmesbury

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