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Marketing for a New Company

Marketing for a New Company. EDUC 517 Tech Created by, Jenna Coleman & Kyle Hills. Define Your Company:. What is it? What does it do/produce? Define specifics: size, location, etc. Use your marketing research in step 1 to further decide the details of your company.

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Marketing for a New Company

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  1. Marketing for a New Company EDUC 517 Tech Created by, Jenna Coleman & Kyle Hills

  2. Define Your Company: • What is it? • What does it do/produce? • Define specifics: size, location, etc. • Use your marketing research in step 1 to further decide the details of your company.

  3. Market Your New Company • Step 1: Market Research • Step 2: SWOT Analysis • Step 3: Customer Segment Research • Step 4: Design/Build your Brand • Step 5: Advertise your Brand • Step 6: Relay/Communicate your New Company

  4. Marketing Research • Primary Research • Survey • focus group • observation, experimental • Secondary Research • Online Databases

  5. Step 1: Marketing Research • Explain the primary research methods your group would use if you were to actually conduct marketing research for your company & explain why. • Conduct secondary online marketing research for your Company. • Find what your clients, customers, or prospects would like about your company . What do they want or need from your product or service.

  6. S.W.O.T. Analysis • Strengths • Weaknesses • Opportunities • Threats

  7. Step 2: S.W.O.T. Analysis • Thoroughly evaluate your company based on your secondary research in step 1 to find their possible strengths, weakness, opportunities, threats • Example Site: • www.hoovers.com

  8. Customer Segment Research • Geographic (ex. Local-be specific, national, global) • Demographic (ex. Age, gender, education, income) • Psychographic (personality, values, attitudes, interests) • Behavioral (what they “tend” to do)

  9. Step 3: Customer Segment Research • Research possible customer segments for your company/product. • Describe each segment by: • Geographic, demographics, psychographics, and any behavioral characteristics. • Define which customer segment you will focus on as your target market

  10. Step 3: Example Sites: • Geographic/Demographics: • www.melissadata.com/lookups/ • www.freedemographics.com/ • www.prb.org • www.fedstats.org • www.census.gov • Psychographics: • http://www.claritas.com/MyBestSegments/Default.jsp?ID=0&SubID=&pageName=Home

  11. Building a Brand: • Create a Brand Name and Slogan • Product/Company Appearance (e.g. packaging & labeling) • Design a logo • Create a website • Determine appropriate product/service mix

  12. Step 4: Design/Build your Company Brand • Design a name and slogan for your product/service • Create a Logo (may be drawn or created on computer) • Create a layout/computer sketch of what your website homepage will look like

  13. Advertising • Newspapers • Television • Direct Mail • Magazines • Outdoor (flyers, stands) • E-Mail • Internet (search engine optimization) • Blogs • Radio

  14. Step 5: Advertise your Brand • Research different advertising options that have worked for your product/service category • Use this information to decide on which major media types you will use to advertise your product. • Create an estimated budget for advertising • Make sure to allocate resources appropriately to best reach your target market • Example Research Sites: • Radio and TV Commercials: www.youtube.com • Print Ads: www.adage.com

  15. Marketing Communications: • Sales Promotions: • Coupons, refunds/rebates, price packs, premiums, loyalty rewards, contests/sweepstakes • Professional Selling: • Personal selling philosophy, define best product/service attributes • Public Relations • Press relations, product publicity, public affairs, lobbying, investor relations, development

  16. Step 6: Relay/Communicate your New Company • Pick 1 of the marketing Communications that you feel is most appropriate for your company/product • If you select sales promotion: design a coupon, rebate, loyalty rewards program, or a contest/sweepstakes to go along with your product. • Try Google image search for examples (coupons especially) • If you select personal selling: define a selling philosophy that your group would use to sell your service/product, along with strong selling points of your service/product. • For help to develop your selling philosophy: www.inddist.com/article/164409-What_s_your_sales_philosphy_.php • If you select Public Relations: create a press release about your new product/service to be distributed to the appropriate media (e.g. newspaper, internet through search engine optimization • For help in developing your press release: www.prurgent.com/press_release_help.htm

  17. Project Reflection: • Individuallyvisit this website & complete survey: • www.surveymonkey.com/s.aspx?sm=f73KxOCoOhi0GV4mGavRQg_3d_3d • Once you have completed this survey you have completed this project.

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