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Marketing Basics Corporate Training Materials. Module One: Getting Started. Business has only two functions – marketing and innovation. Milan Kundera.
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Marketing Basics Corporate Training Materials
Module One: Getting Started Business has only two functions – marketing and innovation. Milan Kundera • Thanks to the rise of technology and social media, the world of marketing and advertising has become bigger than ever. Marketing has gone beyond the classic printed ads, billboards or even television commercials.
Module Two: What is Marketing? The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself. Peter F. Drucker • Sometimes marketing is confused with the simple act of selling or increasing sales. But, marketing is the channel companies take to grab the customers’ attention and bring them to make a purchase.
Module Two: Review Questions • What are potential customers? • Target market • Market • Marketers • Sellers • What is necessary to determine the market and target market? • Customers • Marketers • Market research • Income statement
Module Two: Review Questions • What is selling? • Customer recognition • Building a brand • Knowing your target market • Customer purchases the product • Marketing focuses on what? • Money gained • Gaining customer recognition • Stock supply • Customer purchase
Module Two: Review Questions • What is not something that will provide an understanding of customers? • Survey • Focus group • Product audit • Statistics • Which of the following should be considered in customer needs? • How the customer can benefit from your product/service • The age of the product • How the product will increase sales • How many complaints are expected from the product
Module Two: Review Questions • Which of the following is a step in defining your product/service? • The name of the product or service • Determining your target audience • The age of the product or service • Determining the date of the product • What must be defined about the product besides its aspects? • How long it will be relevant • How it will work • What its name will be • What it can do for the public
Module Two: Review Questions • What does James decide to sell? • Health food • Food • Hamburgers • Sandwiches • What did James’ target market prefer? • Food • Healthy food • Hamburgers • Sandwiches
Module Two: Review Questions • What are potential customers? • Target market • Market • Marketers • Sellers • A market is a broad term. Potential customers who identify with a product are the target market. • What is necessary to determine the market and target market? • Customers • Marketers • Market research • Income statement • There are different markets and target markets. Understanding markets requires market research.
Module Two: Review Questions • What is selling? • Customer recognition • Building a brand • Knowing your target market • Customer purchases the product • Selling is the process of convincing a customer to make a purchase from the company and then completing the sale with the exchange of payment. • Marketing focuses on what? • Money gained • Gaining customer recognition • Stock supply • Customer purchase • Marketing is aimed at making the customer gain more knowledge about the company and learn brand recognition to draw patients in. While marketing may not lead to an actual sale, it can lead to potential customers who can refer others to your product/service.
Module Two: Review Questions • What is not something that will provide an understanding of customers? • Survey • Focus group • Product audit • Statistics • You must understand the customer to offer the best product. The other answers are examples of market research that help improve understanding of the customer. • Which of the following should be considered in customer needs? • How the customer can benefit from your product/service • The age of the product • How the product will increase sales • How many complaints are expected from the product • It is important to understand your customer’s needs, including their wants/desires, how they can benefit from buying your item, and how they can easily access it. Understanding these needs can help mold a more solid marketing plan and reach more potential customers.
Module Two: Review Questions • Which of the following is a step in defining your product/service? • The name of the product or service • Determining your target audience • The age of the product or service • Determining the date of the product • One of the most overlooked steps of defining a company’s product or service is determining who the target audience would be. The company needs to first figure out the pros/cons of the products, its qualities and aspects, and then who would it best be suited for. • What must be defined about the product besides its aspects? • How long it will be relevant • How it will work • What its name will be • What it can do for the public • The different aspects of a product must be identified. It is also necessary to determine the benefits of the product and what is can do for the public.
Module Two: Review Questions • What does James decide to sell? • Health food • Food • Hamburgers • Sandwiches • James chooses to make hamburgers. He believes that everyone likes hamburgers. • What did James’ target market prefer? • Food • Healthy food • Hamburgers • Sandwiches • James did not do his market research before opening his restaurant. His potential customers preferred healthy food.
Module Three: Common Marketing Types (I) There is no such thing as soft sell and hard sell. There is only smart sell and stupid sell. Charles Browder • As consumers, we know that there are many ways companies market their ideas and products, including television ads, newspaper flyers, websites, or coupons. Sometimes it can be confusing to determine which methods of marketing will work for your product, but if you familiarize yourself with the different ways of marketing available, you can make the best decision.
Module Three: Review Questions • Which of the following is an example of direct marketing? • Cold calls • Text messages • Personal interviews • Online forum • Which marketing method is typically the most effective? • Active • Outgoing • Direct • Mixed
Module Three: Review Questions • What is an example of active marketing? • Text message • Bill boards • Cold call • Promotional letter • Which of the following provides more methods of active marketing? • Face to face • Online • Physical • Direct mail
Module Three: Review Questions • Which of the following is an example of incoming marketing? • SEO • Calls • Direct mail • Text messages • What is the drawback of incoming marketing? • Increases the number of people reached • Reaches a small number of people • Poor customer connection • Increased customer connection
Module Three: Review Questions • What is an example of outgoing marketing? • SEO • Banner ad • Text message • Social media • What is the traditional marketing method? • Direct • Incoming • Active • Outgoing
Module Three: Review Questions • Which marketing method did was the most effective? • Outgoing • Active • Incoming • Direct • What percentage of sales did Pat attribute to the effective marketing method? • 30% • 25% • 20% • 50%
Module Three: Review Questions • Which of the following is an example of direct marketing? • Cold calls • Text messages • Personal interviews • Online forum • Direct marketing targets customers directly. This includes text messages. The other answers are examples of active marketing. • Which marketing method is typically the most effective? • Active • Outgoing • Direct • Mixed • Effective marketing methods vary with each business. Most companies, however, find mixed marketing to be effective.
Module Three: Review Questions • What is an example of active marketing? • Text message • Bill boards • Cold call • Promotional letter • Cold calling is an example of active marketing. The other answers are examples of direct marketing. • Which of the following provides more methods of active marketing? • Face to face • Online • Physical • Direct mail • There are more methods for active marketing online than in physical marketing. Online marketing is the correct answer.
Module Three: Review Questions • Which of the following is an example of incoming marketing? • SEO • Calls • Direct mail • Text messages • Incoming marketing draws customers to the company. SEO is an example of incoming marketing. • What is the drawback of incoming marketing? • Increases the number of people reached • Reaches a small number of people • Poor customer connection • Increased customer connection • Incoming marketing allows companies to reach a large number of people. It lacks customer connection.
Module Three: Review Questions • What is an example of outgoing marketing? • SEO • Banner ad • Text message • Social media • Outgoing marketing sends outgoing messages. A banner ad is an example of outgoing marketing. • What is the traditional marketing method? • Direct • Incoming • Active • Outgoing • Outgoing marketing introduces the product. It is the traditional method that includes media and magazine ads.
Module Three: Review Questions • Which marketing method did was the most effective? • Outgoing • Active • Incoming • Direct • Pat chose to mix her marketing methods. Incoming was the most effective. • What percentage of sales did Pat attribute to the effective marketing method? • 30% • 25% • 20% • 50% • Pat linked 30% of sales to incoming marketing. This is the most effective marketing method.
Module Four: Common Marketing Types (II) Good advertising does not just circulate information. It penetrates the public mind with desires and belief. Leo Burnett • Marketing has gone beyond our usual, run-of-the-mill methods. In this fast-paced and fast-moving society, our marketing tactics have to keep up with the times and be in tune with what the people are interested in.
Module Four: Review Questions • What is guerrilla marketing? • Traditional marketing techniques • Marketing to businesses • Marketing using ‘Wow’ tactics • Marketing to consumers • Which of the following is an example of guerrilla marketing? • Coupons • Flyers • Flash mobs • Promotional sales
Module Four: Review Questions • B2B marketing focuses on what? • Marketing online • Marketing to customers • Marketing to families • Marketing to other businesses • What is one form of B2B marketing? • Flash mobs • Business only discounts • Flyers • Free gifts
Module Four: Review Questions • Which target group is B2C marketing aimed at? • Online customers • Businesses • Public consumers • All customers • What is one example of B2C marketing? • Buying rewards • Flash mob • Banner ads • Direct calls
Module Four: Review Questions • What is one advantage of promotional marketing? • Increases leads • Creates loyal customers • Improves ROI • Decreases ROI • Which of the following is an example of promotional marketing? • Flash mob • Direct calls • Flyers • Sweepstake entries with purchase
Module Four: Review Questions • What was the complaint against the flash mob? • It was fun • It was boring • It was inconsiderate • It was interesting • What was the appeal of the flash mob to the CEO? • High cost • Low cost • Low profile • Easy targeting
Module Four: Review Questions • What is guerrilla marketing? • Traditional marketing techniques • Marketing to businesses • Marketing using ‘Wow’ tactics • Marketing to consumers • Guerrilla marketing is meant to take the customer by surprise and is often implemented in the most unexpected place. They are meant to ‘Wow’ the customer and create a unique visual perspective. • Which of the following is an example of guerrilla marketing? • Coupons • Flyers • Flash mobs • Promotional sales • Flash mobs are an extreme case of guerrilla marketing because they involve some sort of pre-planned routine to grab the consumer’s attention and focus on what the marketer has to offer.
Module Four: Review Questions • B2B marketing focuses on what? • Marketing online • Marketing to customers • Marketing to families • Marketing to other businesses • B2B is marketing that is designed to promote and sell to other businesses, such as suppliers and retail stores. This type of marketing does not utilize some of the typical outgoing marketing tactics and will often use ‘business only tools’ to do so. • What is one form of B2B marketing? • Flash mobs • Business only discounts • Flyers • Free gifts • One form of B2B marketing is to offer a special business only discount that can only be given or redeemed by other businesses. These types of discounts are not generally offered to the public.
Module Four: Review Questions • Which target group is B2C marketing aimed at? • Online customers • Businesses • Public consumers • All customers • B2C is marketing that is focused on marketing to the general public. Marketing tactics are based on drawing the customers in and gaining their purchase loyalty over time, such as with special sales, advertisements, or incentives. • What is one example of B2C marketing? • Buying rewards • Flash mob • Banner ads • Direct calls • Many companies offer some sort of reward program for customers when they make continuous purchases, such as earning points to redeem for prizes or earning cash back after spending a set amount in their store.
Module Four: Review Questions • What is one advantage of promotional marketing? • Increases leads • Creates loyal customers • Improves ROI • Decreases ROI • Promotional marketing offers customers a ‘bonus’ for coming to your company, such as with free giveaways or a chance to win a prize. Customers are drawn to the chance to win or be given something, so promotional marketing can create a loyal customer base by making offers that keep customers coming back. • Which of the following is an example of promotional marketing? • Flash mob • Direct calls • Flyers • Sweepstake entries with purchase • Many marketing groups have created some sort of campaign where people can enter a sweepstakes in return for something such as a purchase or even shopping with a company. The more they shop/buy/invest in, the more entries they get.
