Entrepreneurial Marketing- Techniques for a start up to achieve market growth

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Teachers Instructions: “You are tasked with choosing a business, it can either be an existing young company looking for market growth or one that you are interested in starting and write a journal on how you apply a range of the concepts you have learned on this course to the business. Max. 2500 Words.”
Copyright Social Marketing Services Inc. 2015
PRODUCT
A product is anything that can be
offered to a market to satisfy a want or
need. In social marketing, major product
elements include:
 Core benefit of behavior
 Goods or services you promote
for adoption
 Additional product elements to
assist in behavior adoption
PRICE
Price is the cost that the target market
associates with adopting the desired
behavior. Pricing-related strategies to
reduce costs and increase benefits
include these 6:
1. Increase monetary benefits for
the desired behavior
2. Decrease monetary costs for the
desired behavior.
3. Increase non-monetary benefits
for the desired behavior.
4. Decrease non-monetary costs for
the desired behavior.
5. Increase monetary costs for the
competing behavior
6. Increase non-monetary costs for
the competing behavior.
PLACE
Place is where and when the target
market will perform the desired
behavior, acquire any related
tangible goals, and receive any
associated services.
Options include:
 Physical locations
 Phone/Mobile devices
 Mail
 Fax
 Internet
 Mobile Unit
 Where people shop
 Where people hang out
 Drive-throughs
 Home Delivery/House Calls
 Kiosks
 Vending Machines
PROMOTION
Promotions are persuasive communications
designed and delivered to highlight
the offer and inspire your target audience
to action. At this step you determine
messages, messengers, creative
strategies, and communication channels.
Major social marketing communication
channels include:
 Advertising
 Public Relations
 Special Events
 Printed Materials
 Special Promotional Items
 Signage and Displays
 Personal Selling
 Social Media
 Popular/Entertainment Media
#9. BUDGET
Identify price tags for strategies
and activities with cost-related
implications.
 Product-related costs
 Price-related costs
 Place-related costs
 Promotion-related costs
 Evaluation-related costs
#10. IMPLEMENTATION
PLAN
The implementation plan functions as a
concise working document to share and
track planned efforts. Most commonly,
plans represent a minimum of 1-year
activities, and ideally 2 or 3 years.
WHAT WHO WHEN HOW
MUCH
#8. EVALUATION PLAN
An evaluation plan outlines why you will be evaluating, what will be measured, how and
when. What is measured often falls into one of the categories below:
Inputs Outputs Outcomes
Impact Return on
Investment
Resources
allocated to
the campaign
or
program
effort
Program activities
conducted to
influence audiences
to perform
a desired
behavior
Audience
response
to
outputs
Indicators
that show
levels of
impact on
Social Issues
Cost per
behavior
change
#1. BACKGROUND,
PURPOSE, FOCUS
Note the social issue the plan will be
addressing (e.g., obesity), including a
statement of the problem. Summarize
factors that led to the development of
the plan.
Then develop a purpose statement that
reflects the benefit of a successful campaign
(e.g., reduce obesity) and a focus
that narrows the scope of the plan’s
purpose to one the plan will address
(e.g., physical activity).
#2. SITUATION ANALYSIS
Relative to the purpose and focus of the plan, describe the factors and forces in the internal
and external environment that are anticipated to have some impact on planning
decisions.
Factors and Forces Influencing Your Target Market and Your Effort
Organizational Factors External Forces
(Strengths & Weaknesses) (Opportunities & Threats)
Resources External Publics
Past Performance Political/Legal Forces
Current Alliances and Partners Economic Forces
Service Delivery Natural Forces
Internal Publics Demographic Forces
#3. TARGET AUDIENCE
The bull’s-eye target audience for your
marketing efforts is selected and described.
A marketing plan ideally
focuses on a primary target audience,
although additional secondary audiences
are often identified and strategies
are developed for them as well.
This is a 3 step process:
1. Segment the market.
2. Evaluate segments.
3. Choose one or more as a focal point.
#4. OBJECTIVES & GOALS
Social marketing plans always include
a behavior objective – something you
want to influence the target audience
to do.
Knowledge objectives include information
or facts that might make the
target audience more likely to perform
the desired behavior.
Belief objectives relate more to feelings
and attitudes.
Goals are quantifiable desired outcomes.
#5. BARRIERS, BENEFITS, MOTIVATORS, COMPETITORS
Barriers are reasons your target audience cannot (easily) or does not want to adopt the
behavior.
Benefits are reasons your target audience might be interested in adopting the behavior or
what might motivate them to do so.
Motivators are intervention strategies the target audience says will reduce barriers and
provide benefits.
Competitors are behaviors your target audience prefers or organizations that support or
promote “undesirable” behaviors.
#6. POSITIONING
STATEMENT
Positioning is the act of designing the
organization’s actual and perceived
offering in such a way that it lands on
and occupies a distinctive place in the
mind of the target market – where you
want it to be. Fill in the blanks to :
“We want (TARGET AUDIENCE) to
see (DESIRED BEHAVIOR) as
(DESCRIPTIVE PHRASE) and more
beneficial than (COMPETITION).
Nancy Lee
Philip Kotler
DEFINITION
“Social marketing is a process that applies
marketing principles and techniques to create,
communicate, and deliver value in order to influence
target audience behaviors that benefit society
(public health, safety, the environment, and communities)
as well as the target audience.” Philip
Kotler, Nancy Lee, and Michael Rothschild, 2006
Similarities to commercial marketing include:
 Exchange theory is fundamental
 Customer-orientation is critical
 Audiences are segmented
 All 4Ps are considered
 Market research is key to success
 Results are measured for improvement
In commercial marketing, however:
 Financial versus societal gain is the goal
 Competitors are similar organizations
_______
GUIDING THEORIES
Stages of Change Model describes six stages that people
go through in the behavior change process.
Social Norms Theory is based on the central concept that
much of people’s behavior is influenced by their perceptions
of what is “normal” or “typical.”
Health Belief Model emphasizes target audiences are
influenced by perceived personal susceptibility and
seriousness of the health issue, and benefits, barriers and
cues to action for the desired behavior.
Theory of Reasoned Action /Theory of Planned Behavior
suggests the best predictor of behavior is intention to act
and this intention is influenced by perceived benefits,
costs and social norms.
Social Cognitive Theory states that likelihood of adopting
the behavior is determined by perceptions that
benefits outweigh the costs and belief in self-efficacy
(ability to perform the behavior).
Exchange Theory postulates that in order for an
exchange to take place, target markets must perceive
benefits equal to or greater than perceived costs.
Behavioral Economics Framework helps explain how
environmental and other factors prompt personal
decisions and that we do not always behave rationally.
TEN STEPS IN THE PLANNING PROCESS
See Reverse Side for Detailed Descriptions of Each Step
Step #1. Describe the Background, Purpose and Focus for the Planning Effort
Step #2. Conduct a Situation Analysis
Step #3. Select and Describe the Target Audience
Step #4. Set Marketing Objectives and Goals (Behavior, Knowledge, Beliefs)
Step #5. Identify Audience Barriers, Benefits, Motivators, and the
Competition
Step #6. Craft a Desired Positioning Statement
Step #7. Develop a Strategic Marketing Intervention Mix (The 4Ps)
 Product
 Price
 Place
 Promotion
Step #8. Determine an Evaluation Plan
Step #9. Establish a Campaign Budget and Find Funding
Step #10. Outline an Implementation Plan
Although steps appear linear in theory, they are actually spiral in reality with each step subject to
revision as the process unfolds.
1. Take advantage of prior and existing successful campaigns.
2. Start with target audiences most ready for action.
3. Select single, doable behaviors with significant potential impact.
4. Identify and remove barriers to behavior change.
5. Bring real benefits into the present.
6. Highlight costs of competing behaviors.
7. Promote tangible goods or services to help target audiences perform the
behavior.
8. Consider non-monetary incentives such as recognition & appreciation.
9. Make access easy.
10. Have a little fun with messages.
11. Use media channels at the point of decision making.
12. Try for popular/entertainment media.
13. Get commitments and pledges.
14. Use prompts for sustainability.
15. Create plans for social diffusion.
16. Track results and make adjustments.
QUICK
REFERENCE
GUIDE
SOURCE: Social Marketing: Changing Behaviors for Good , Fifth Edition Nancy R. Lee and Philip Kotler (SAGE 2015)
Contact: Nancy Lee at: WWW.SOCIALMARKETINGSERVICE.COM OR Nancyrlee@msn.com Copyright Social Marketing Services Inc. 2015
APPLICATIONS
Most social marketing efforts are applied to:
Improving public health (e.g. HIV/AIDS, tobacco use,
obesity, teen pregnancy, tuberculosis, malaria)
Preventing injuries (e.g., traffic collisions, domestic
violence, senior falls, drowning)
Protecting the environment (e.g., water quality, air
quality, water conservation, habitat protection)
Contributing to communities (e.g., voting, spaying
and neutering pets, volunteering, crime prevention)
Enhancing financial wellbeing (e.g. saving for retirement,
living within a budget, having a checking account)
______________
UPSTREAM & MIDSTREAM &
DOWNSTREAM
Downstream social marketing focuses on influencing
individual behaviors, while midstream social marketing
focuses on influencing those “closer” to the target
audience (e.g. friends, family, teachers, healthcare
providers), and upstream social marketing focuses on
influencing policy makers, media, corporations and
other social influencers. The same ten step process is
applicable for each.
THE ROLE FOR RESEARCH
Market research has a role to play when developing
each step and properly focused research can make the
difference between a brilliant and mediocre plan.
Formative Research is used to help select and understand
target markets and develop draft marketing
strategies. It may be new research (primary data)
that you conduct, or it may be research conducted by
someone else that you are able to review (secondary
data).
Pretest Research is conducted to evaluate a short list
of alternative strategies and tactics, ensure that
potential executions have no major deficiencies, and
fine-tune possible approaches so that they speak to
your target audience in the most effective way.
Monitoring Research provides ongoing measurement
of program outputs and outcomes, often used to
establish baselines and subsequent benchmarks relative
to goals.
Evaluation Research, as distinct from monitoring, is
research that supports a final assessment of the
campaign.
You are tasked with choosing a business, it can either be an existing young company looking for market growth or one that you are interested in starting, and write a journal on how you apply a range of the concepts you have learned on this course to the business. Max. 2500 Words
You should use the case studies, theories and other sources that you have learnt during the course and include them within the journal.
The journal needs to be written in essay style, however, in addition, to it being well referenced you are to make personal reflections on the content.
 
 
Essay Plan Suggestion:
 

  • Background of the idea, the company, the market, the founders. What problem does the idea solve
  • Situation Analysis of Market (SWOT) & Specification of idea ( A good company needs to have a clear idea, a concise product or service)
  • Select& Describe Target Audience
  • Marketing Campaign: Set Marketing Objectives and Goals (Behaviour, Knowledge, Beliefs of Customers)
  • Identify Audience Barriers, Benefits, Barriers and competition
  • Craft desired Positioning Statement
  • Develop Strategic Marketing Mix
    • Product, Price, Place, Promotion
  • Determine Evaluation Plan
    • Inputs, Outputs, Outcomes, Impact, ROI
  • Budget& Funding
  • Implementation Plan
    • What, who, when, how much

 
Important Part: Marketing Campaign

  • Key background info
  • Primary target audience
  • Campaign purpose, intended impact. “ We want (Target Audience) to see (Desired Goal+ Behavior) as (Descriptive Phrase)
  • Major competing alternative behaviour
  • List of barriers audience has to adapt desired behaviour. (Knowledge, awareness, skills, money)
  • Key benefits of behaviour/product
  • Key messages about product/behaviour to audience & who will be the sponsors
  • Logo, taglines, visuals, colours
  • Communication Channels

 
 
Things to considers (Other things, ideas, frameworks you could write about if relevant/fitting)

  • Porters Five Forces
  • Offer something new
  • Go where the customers are, go to the customer
  • Offer exceptional above average services
  • The role of the founder- what did the founder do, hands-on approach bootstrapping raising capital, seed funding, crowdsourcing
  • How to generate sales globally (traditional and e-commerce)
  • Building credibility and brand image
  • Hiring and developing the right people
  • Role of digital and social marketing in the venture
  • Various ways of market segmentation- Behavioural segmentation? (Influence/ exploit consumer behav.)
  • Persevere Pivot and perish decision points
  • Partnerships with large and small companies

 
Testing Your Idea
A Case for Innocent…
To Test the Market
or Go with your Gut?
What happened at Annie Maes?
Gut takes you so far… can be dangerous…
• It was a problem I faced…
• My friends love it…
• If its a problem in my area it must be a problem everywhere else…
How do you overcome these issues (on no or a very small budget)?
How did Google land on the ‘Blue’
in their logo?
Colours matter…
Let’s do a test…
What lessons can we take from
this?
To Control the Environment or
Operate in a Natural Location?
Testing your idea in a controlled environment…
Advantages…
• Control the context…
• Record results easily
• Record reactions
Issues…
• Lab bias
• People say one thing and do another
• Unnatural environment
• Expensive!
Train delays were the number one complaint on the tube…
What would you do to fix it?
Testing it in an uncontrolled way…
Advantages…
• Actual data from what happened
• Not artificial setting – more reliable
• Can start and iterate…
Issues…
• Harder to data capture…
• May work in one context but not another…
Started with two flavours… now has…
How can we use data to test the idea?
A/B testing… Netflix
How can we use data to test the idea?c
What about web metrics to look at?
And what about social media?
1. Conversation Rate
Conversation Rate = # of Audience
Comments (or Replies) Per Post
https://www.kaushik.net/avinash/best-social-media-metricsconversation-amplification-applause-economic-value/
And what about social media?
2. Amplification Rate
Amplification = # of Shares Per Post
And what about social media?
3. Applause Rate
Applause Rate = # of Likes Per Post
Create a…champion/challenge model…
Recognise there are limitations of testing your idea…
What are they?
Fun resource…
http://www.businessinsider.com/six-idea-validation-tests-to-pass-2011-1?IR=T#1-competitors-are-few-1
Appendix
For today… 5 customer engagement trends…
Key changes we see in the customer engagement landscape…
• Consumers in an uncertain environment
• Don’t sell to me
• I’ll decide what’s right for us
• Give me an (Me) xperience
• Want it all and want it now
The Top 5 Key Customer Engagement Trends:
1. Consumers in an uncertain environment: Impact on consumers
Polarisation of consumers (economically but more importantly emotionally):
Sentiment Value Equation
Buy what they love
Buy what they need
COMFORT
ESSENTIAL
How much joy can I get
out of this?
How much value can I
get out of this?
2. Don’t sell to me
Looking at ‘intentions’ as well as ‘actions’
You are our most loyal customer…
… do you want another 24 month contract
on top of your existing one?
3. I’ll decide what’s right for us
Self diagnosis…
…They want to feel part of the process…
…Make it easy to get involved…
4. Give me an MExperience
There has been a significant move from product to experience…
5. Want it all want it now!
Death of loyalty (points)
Generating An Idea
Ritchie Mehta
Business is changing…
So today I ask you…
What are you trying
to cause in the
world?
The First Step is Identifying Problems…
Don’t jump on any
train… your bound
to get lost at some
point.
The Problem can also be more local…
The Question is: How Big is your ambition?
“If I fly on somebody else’s
airline and find the experience is
not a pleasant one, which it
wasn’t 21 years ago, then I
think, well maybe I can create
the kind of airline that I’d like to
fly on. So I got a second hand
747 from Boeing and gave it a
go!”
Change the way
something is currently
done?
Create something that
has never been done
before?
“To end global poverty”
Other techniques to consider…
Ideas often evolve in places you
least expect…
Design for the cause and the individual…
“Travel the world: I
never would have
funded Baidu if I hadn’t
traveled to China,” he
said. “I wouldn’t have
known the Chinese
needs and that they
were different from what
Google was providing if
I hadn’t gone there.”
Tim Draper
Tim Draper (VC’s success rate)
Think why
would Tim
invest in
me?
Developing and testing the idea…
Customer (Experience) is King
Will it be possible? Depends on time horizon…
Iterating your idea…
Accept Failure and bounce back…
Over to you…

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