I’ve been revising Marketing 151G and I was wondering… are you the practice partner I need?
Let me explain. Penetration is what I’m after – to reach as many people as possible in my particular target market. Now, I can expertly create satisfying exchanges, I have that down to an art. The necessary conditions are met – I have something of value, I always create a desire to deal with me in others, I have the ability to communicate my offer, and, of course, the other party has the freedom to accept or reject. I attend to the other party’s wants and needs by offering and delivering only the best, but how can I maximize the profit for myself? My penetration-focused strategy recommends setting low prices, but how do I ensure two-way benefits? I just want to know how to achieve better penetration than my competitors and keep the market coming back for more.
Is it how I position myself?
I studied the consumer decision-making process:
- Need recognition (the 5 senses): I am definitely so good at convincing people, through eye contact, sweet scents, saying all the things they yearn to hear, that by the time they are using their tongue and touching with their hands, I have definitely turned their want into a need and a demand for the product that will satisfy it.
- Information search: I assuredly fill people in on all my relevant attributes, in order of importance. But my problem perhaps lies in the next step…
- Evaluation of alternatives: How do I prove that I offer something better than everyone else?
- Turn the purchase decision into an act: I have done that so often it’s like second nature. But…
- Post purchase: They say relationship maintenance is importance to counter the cognitive dissonance blues, but what if the market is impossible to continually penetrate?
So when I studied the business-to-business decision-making process, I knew I needed a practice partner.
- Anticipate problem/need and the solution – I need to hone my strategies and I can’t do it alone.
- Determine character of needed good or service – I need an experienced Marketing student, male, for the complimentary attributes of the opposite sex.
- Search for and qualify sources – Craccum, as my first port of call for advertising, and then…the internet.
- Acquire and analyse proposals – that’s where you come in. Make me one. So then I can…
- 5. Evaluate proposals, select supplier.
- Obtain feedback and evaluate performance. Please?
I really think I would greatly improve with a Marketing Audit from you – “a thorough, systematic and periodic evaluation of goals, strategies, structure and performance of my practices.” Maybe you can set me some KPIs – key performance indicators.
I’ve learnt the three reasons why marketing plans fail:
- Isolation: I evidently need a complimentary match to position myself for optimum penetration.
- Resistance to change: Oh, I assure you, I don’t resist any position you recommend…
- Short term over long term: But, as much as I sell the personal relationship, the other party promises undying loyalty right up until they choose to move on post-purchase. I guess it’s true what they say, there’s not much brand loyalty in the 21st Century…
I have a clear corporate vision. I want to thoroughly please and satisfy potential exchange partners, time and time again. So can you help me with my business strategy (what do I need to implement?) and my functional strategy (how do I implement it?).
Maybe my communication isn’t perfect? Is my message really so hard to decode in the intended way?
Advertising might help. I like the idea of promotional demonstrations which ensure maximum visibility and provide measurable responses.
But how often? Seasonally, continuously, or pulsingly?
What about my strategy?
Well, there’s the “push” strategy – aggressive personal persuasion to convince people they desire what I have to offer, or the “pull” strategy – by stimulating interest, which turns into desire, which turns into action.
Which is best? I expect you’ll say what everyone else says, you need to try before you buy, right? Ok, if you promise to stay and give feedback afterwards, I promise to deliver the best. Deal?
I learnt about “gurus” who are paid loads to tap into the impulsive mind of the irrational shopper and find the code for their “reptilian hot buttons”, and so discover what they really want, and promise it. For example, it was discovered that the desire to own an SUV is equated to the desire for dominance. But, I don’t need to pay gurus money. I always instinctively know what interested parties want, and I always deliver way more than I promise.
Do you like SUVs?
My “Unique Selling Proposition” definitely fulfils the three criteria – desirable, exclusive and believable. Well, if anything that creates exchanges between two parties is called a “good”, it can never be bad. Can it?
My core product, naturally, is what anyone can do, but the difference lies in my services and added extras.
I keep getting caught on the third stage of the four-stages of the Product Life Cycle. Introduction, I can introduce my product well, then the growth trajectory, I’m experienced at that, but then there’s the plateau. And when it reaches saturation point, it declines. I just keep stopping short of saturation point, so I never know whether to push harder or whether to quit while I’m ahead. Can you help me determine the market penetration I need to hit that elusive plateau?
If you can, please do. I’ll be waiting, in the Commons, for responses.
I shall be most grateful.