1 / 16

Marketing in Tough Times

Marketing in Tough Times. Roger James FAMI CPM Chairman Australian Marketing Institute. Today:. What does the GFC mean to you? How can businesses respond from a marketing point of view?. The Role of Marketing. Inclusive view of marketing

simone
Download Presentation

Marketing in Tough Times

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Marketing in Tough Times Roger James FAMI CPM Chairman Australian Marketing Institute

  2. Today: • What does the GFC mean to you? • How can businesses respond from a marketing point of view?

  3. The Role of Marketing • Inclusive view of marketing • Marketing orientation as well as marketing function • Source of value creation • An investment not a cost

  4. Re-visiting some marketing fundamentals Marketing information critical • Markets • Customers • Products – as seen by customers • Price – in the eye of the customer • Channels • Advertising and promotion

  5. Markets • Examine markets/customer base – macro level • Analyse segment profitability • Competition – marketing response to competitive activity

  6. Customers • Review customer base – micro level • Retain current customers vs. acquiring new customers • High value/low value customers

  7. Products – goods and services Your product in the mind of your customer • A staple? • A luxury good? • A discretionary purchase?

  8. Price Role of pricing in addressing a downturn • Price reduction can stimulate sales but has risks • Alternatives may be available – bonuses, incentives

  9. Channels • Review channel costs • Close contact with any distributors, wholesalers • Support programs?

  10. Advertising and Promotion • Often the first cut – Why? • Evaluate efficiency of different marketing modes • Evaluate ROI of different marketing modes

  11. Advertising and Promotion • PIMS (Profit Impact of Market Strategy)

  12. Practical implications – Advertising and Promotion • Understand your brand, its values and qualities • Does your marketing express these qualities clearly? • Communicate consistently

  13. Practical implications – Advertising and Promotion • What do I need to know to keep my present customers and to increase sales to them? How can I collect, store and use the information I need to do this? • Who and where are my future customers; how can I reach them with an arresting communication about my value proposition? • What are the critical differences between my offering and those of my competitors? How can I ensure my point of difference is communicated to my markets?

  14. Practical implications – Advertising and Promotion • Internal marketing – the start of any effective marketing communications strategy • Low cost/high impact channels such as word of mouth, referrals, recommendations • Sampling, buzz marketing • Marketing training for front-line sales – turn order-takers into marketers

  15. In Summary • Information critical – if you can’t measure it you can’t manage it • Marketing measurement should be across the marketing mix • Marketing should be the solution – not the problem

  16. Thank youroger.james@ami.org.au

More Related