May 4 Recap

May 4 Recap

- Eric reported - Ch 12 - Setting Product Strategy

- Review of Last Week's Case - You've Got Mail

- Objective for the day: be able to discuss the following:
     - Understanding Customers
     - SPADER Approach
     - 13P Model
     - 20 year personal marketing plan

      ** case assignment


- Understanding, Communicating to Customers
       - stories of true marketing errors
       ** miscommunication can be embarassing & costly

       - local application:  Napoleon brandy "nakatikim ka na ba ng kinse/" commercial
       - intention to have double meaning to get the attention of men, but women also reacted negatively.

       - useless Japanese inventions - solutions were more complicated than the problems

       - longest line game

       - establish marketing budget - the best basis is objective task


- SPADER Approach on Case Analysis - simple, orderly & complete
      
      S - Situation - fact-based; most relevant
      P - Problem - the major one
      A - Alternatives - give choices
                             - provide at least 3
                              

     - status quo
                                   - aggresive
                                   - expansion
                                   - focus, etc
                            - possible realistic answers
                            - "don't give questions, give answers"
      D - Decision - choosing the best
      E - Execution - is the key
      R - Review - putting checkpoints for choices
                      - Plan B if earlier options are not met


- 13P Model
      1st P - Potential Market - customers, competitors & stakeholders
      2nd P - Primary Target Market
      3rd P - Positioning
      4th to 7th P - Product
                        - Price
                        - Promo
                        - Place
               - these 4Ps (4th to 7th) should be consistent with Positioning
     8th to 9th P - Process
                       - People
               - should support the 4Ps

    plus 10th to 11th - Passion
                               - Prayer

     will result to:
   12th & 13th P - Persistent Profit

(use only 1st to 7th P for the case analysis)

   - case analysis: Erin Brokovich:
        1st part:
        - target market: job interviewer
        - Erin's positioning - not consistent with the requirement; she was talking about a lot of things which are not required/ related to the requirement of the job
       
         2nd part:
       - target market - jury       
       - in positioning, what matters is what the target market believes
     

- 20 Year Personal Marketing Plan
       - story of father & 3 sons (target to be like the 3rd son)

           should contain the following slides:
               - coverpage
               - outline
               - vision/mission
               -details (w/ pics)
               -brand launch
               -free for all (ex. 12 mktg plan for life, how to succeed)
               - now & after
               - philosophy
  
     - personal marketing plan template is in slideshare, download it & customize it.

- Assignment: case to be sent by Coach Bong thru e-mail
                     - Analyze using the 9Ps
                     - 1 to 2 slides per P

Regards,

Yash Lumbao