by Mark Levit Management often maintains an internal view of its company or product. But a great marketer walks in the customer�s shoes. Here are seven considerations to help you be a great marketer:
1. Focus on the Customer Benefit - Have a defensible value proposition
- Give customers a reason to buy
- Avoid the �Product Orientation� trap
- Don�t focus on product features
�Example: The chemical formulation of Super Glue doesn�t matter
2. All Markets Can be Segmented - Markets are comprised of people (not industries or
competitive products) - Most segments can be sub-segmented for additional
profitability if you meet the customers� needs - In any market, some people want to pay more
- In any market, some people can only afford to pay less
3. Have a Clear Strategy Example: �Use economies of scale to leverage the company�s R&D into undeserved international markets� is better than: �Should we do more in Europe?�
4. Do a �Cocktail Napkin� Calculation - If everything worked as planned, what would the payoff be?
- $10MM promo budget isn�t enough for a national US launch
�10 percent is 26,000,000 people �That�s $0.26 per person - Worst-case scenario
- Best-case scenario
5. Live and Die By Your Brand
- Make sure the brand has meaning
�An emotional attachment creates value for the customer - Manage all images and associations
- Above all, consistency
6. Be Good to Your Channel and Your Channel Will Be Good to You - Nurture channel members��walk in their shoes��learn what
motivates them - Think win-win: Develop appropriate incentives
- Don�t be afraid to revise your plan
- Honesty will take you a long way
7. Cute Advertisements Win Awards, Not Customers - There�s much more to promotion than broad based
advertising�question the media plan - Before evaluating advertising or promotion ask:
What�s the promotional task?
Find out more about the truths of marketing. Contact our
managing partner Mark Levit, at 212.696.1200 for more information. |