SPC-USP Sub-regional Training Workshop in Aquaculture 25-2929 July 2005, Suva Marketing Alise Faulalo-Stunnenberg Pacific Islands Forum Secretariat Definition of Marketing Webster's Marketing Definition 1: the process or technique of promoting, selling, and distributing a product or service 2: an aggregate of functions involved in moving goods from producer to consumer The technique of convincing someone to buy something that they think they need that they can t live without! 1
Defining Your Business What is your Business? A business is defined in terms of what it produces for whom. The functions responsible for realizing this definition are production and marketing. All other undertakings are either subsidiary to these functions or are considered as managerial activities Example: TLC Ltd (Fiji) Selling pawpaws (product A) to the Ralph s Supermarkets NZ (market B) The business of TLC Ltd is to produce product A for market B in NZ. The market segment in B that TLC intends to seek maximum negotiating power is the present buyers. TLC gets its present buyers to buy more and more frequently by producing the goods in the time needed by them. 2
Functions of a Business-1 Production Produce and deliver the desired quantities of goods and service Produce and deliver the goods and services at the desired quality level Produce and deliver the goods and services at the desired time Produce and deliver the goods and services at an acceptable cost Functions of a Business-2 Marketing Sell more frequently and more to present buyers Induce brand switching into the markets of the competitors Convert non-users into users/avoid users from becoming nonusers Secure medium to long-term profitability 3
Tasks of a Business Marketing Preparing Specifications and Negotiating Preparing Sales Literature Pricing and Quoting Programming Promotions Programming Advertising Prompting and Responding to Sales Inquiries Setting Up Channels of Distribution Specific tasks are assigned Programming Promotions to the marketing and production to achieve Production Balancing Production or Line Systems Designing and Installing Plant Designing Product Service Departments Determining Inventory Requirements Developing Maintenance Systems Developing Quality Standards Developing Quality Control Procedures Dispatching Work Engineering Production Processes Estimating Production Costs Fulfilling Freight Operations Handling Materials Improving Methods Installing Cost Reduction Programs Locating and Evaluating Plant Site Purchasing and Expediting Scheduling Work and Routing Stock Keeping Tooling their generic g g p objectives Marketing Objective Make as much money as possible Be able to dictate terms Maximise bargaining power Dominate a market Be a Competitive Monopoly 4
Marketing Basics Who are you selling to What are you selling What need is your product fulfilling? Who are your Clients? 5 questions to ask about your prospects or customers. 1. Who are they? 2. Where do they live... work... play? 3. How does your product or service fit into their life? 4. What else do they buy in your product or service category? 5. Where do they get information regarding your product/service? 5
Guarantee Your Marketing Success So what exactly is a marketing plan? Your plan is your road map Create the success you desire How Do I Form A Marketing Plan and What Should It Include? A marketing plan does not have to be a big, lengthy document. A plan ensures you don't waste valuable resources 6
Your Marketing Plan should include: Your Current Situation Your Goals What you are Selling Your Ideal Customer Competitors Unique Selling Proposition Your Single Marketing Message Your Marketing Activities A Marketing Calendar A Marketing Budget My Marketing Budget Is Small. How Can I Make The Most Of It? One way is to Capitalize on the seasonality of your business. 7
Improve Your Marketing Results With These Simple Steps Review your past marketing results Direct vs. Indirect tracking For each marketing activity you did over the past year, ask yourself Use what you learn to plan future marketing Networking Is that really considered marketing? Designing a Strategy Determine where your product is placed: Quantity, Quality, Time, Cost (price) In order to achieve your Marketing Objective(s), you need to: Sell more to present buyers Induce brand switching Convert non-users Secure profitability 8
Marketing Basics Exercises What are you selling? Who are you selling to? What need(s) are you fulfilling? Design a Strategy Determine where your product will compete Determine your marketing objective(s) Marketing Ideas Naming your Business Taglines or slogans Colors Get Free Publicity 9
What s in a Name? Naming your Business (1) Don't Use Your Own Name (2) Create A Meaningful Name for Your Business (3) Choose A Name That Communicates An Idea The Power Of Taglines An effective logo/tagline combination can be one of the best ways to successfully brand your business. The Tagline Test! 10
Tagline Test See if you can identify the brand each of these top-ranked taglines belong to. 1. Have it your way 2. Is it in you? 3. The quicker picker-upper 4. Just do it 5. It's everywhere you want to be 6. Drivers wanted 7. When it absolutely, positively has to be there overnight 8. Finger lickin-good 9. Because I'm worth it 10.Let your fingers do the walking What Does Your Logo Colour Say About Your Business? Colours do matter They communicate feelings and emotions. They represent ideas and thoughts. So before you create a logo or any other piece of marketing make sure you select the right colors to communicate a personality that accurately represents you and your business. 11
White/Silver Black Blue Brown/Gold Gray/Silver Green Pink Red Colours. Orange Purple Yellow Press releases Free Publicity Join a local charity/service group Volunteer for a cause 12
Exercises Name your business Tagline Test Design a Tagline and determine what message you want to project Colours for your Logo/material Tagline Test (Answers) 1. Burger King 2. Gatorade 3. Bounty Paper Towels 4. Nike 5. Visa 6. Volkswagen 7. Federal Express 8. KFC 9. L'Oreal 10. Yellow Pages 13
Colours. White/Silver: purity, truthfulness, faith, contemporary, wealth Black: seriousness, distinctiveness, boldness, power, sophistication Blue: authority, dignity, security, faithfulness, heritage, trust Brown/Gold: history, earthiness, richness, tradition, conservative Gray/Silver: somberness, authority, practicality, corporate mentality Green: tranquility, health, freshness, stability, appetite Orange: fun, cheeriness, warm exuberance, appetite, speed Pink: femininity, innocence, softness, health, youth Purple: sophistication, spirituality, wealth, royalty, youth, mystery Red: aggressiveness, passion, strength, vitality, fear, speed, appetite Yellow: youth, positive feelings, sunshine, refinement, caution, appetite Good fortune is what happens when opportunity meets with planning. Edison 14
Thank you! PIFS Funding Schemes Marketing Support Fund (MSF) Industrial Training & Development Programme (IDTP) Fellowship 15