SAMANTHA GROSS

With just minutes to go until deadline, the coders sit furiously typing, putting the finishing touches on their website. Brett Martin turns to his computer – the PowerPoint slides are almost done.

On the couch, a tiny dog buries his head into a blanket and shuts its eyes.

“Spanky’s the only one who got to sleep,” Martin says.

This group of nine entrepreneur hopefuls started less than two days ago with just an idea: an online planning and finance tool for small businesses called ProphetMargin. Now they have the website design, a business plan and a working database. And by the end of the evening, they’ll have a formal mentor and a meeting planned with investors.

Such is the pace of Startup Weekend, one of the final events of New York’s Internet Week, which is ending Monday. Participants in the 48-hour marathon came in alone with an idea and left with like-minded partners and a fledgling business.

“It’s a testament to how much people can get done when they’re working on something they’re really excited about,” Martin said Monday, reflecting on his team’s accomplishments over the weekend. “I met great people and had a great time and hopefully we’ll get some funding.”

ProphetMargin was one of 18 projects pitched Sunday night in the weekend’s final presentations. Other groups offered up plans for an app that would give users information about other people around them in public, a website to connect users with friends who need housesitters, an app allowing people to track the beers they drink, and an Internet platform to help adult entertainers build their brands.

The projects started as 60-second pitches Friday night. The 145 participants evaluated 57 suggestions and formed teams around the best ideas. Then they all got to work.

Usually, “you couldn’t create something like this without spending thousands of dollars,” Rob Steir marveled, looking around at his ProphetMargin teammates as they pushed through the final stretch. “We wouldn’t even know each other – we don’t know each other.”

Most teams gathered together people with varying specialties.

The group creating Data Dough – a service to help people sell their personal information to advertisers – included two software engineers, a graphic-design student, a computer-network manager, a Harvard Law School student, a new-media journalist and one person with a finance background.

In the end, the group’s work won it a prize – a mentorship from Noiz Ivy, an organization that supports entrepreneurs. Score.ly – a platform that would allow users to display verified personal and professional achievements – and ProphetMargin won the same prize. A group creating a platform to help publishers market-test novels won a free month of shared working space.

And a representative from AOL Ventures said the company would meet with three groups and fund one of them. The details of the deal were to be worked out later. The finalists were Score.ly, ProphetMargin and Deal Over Here – an app allowing people to buy unsold tickets just minutes before an event begins.

Even for the participants who leave with no prizes or investment prospects, the weekend can provide an opportunity to jump into a project full-throttle and test out potential partners for future endeavors, said Peter Chislett, a startup veteran who has provided mentoring to previous participants and who now helps run New Work City, a shared Manhattan workspace. Creating a startup can be an intimate experience that it’s better not to attempt with an utter stranger, he said.

“Your partners, they are your most important relationships for as long as you’re together,” he said. “You have to get along and you have to be able to trust them like they’re part of your family – without all that baggage.”

It’s a trial run that’s been shared by more than 500 teams at more than 100 startup weekends around the world over the last three years. Startup Weekend – itself a non-profit startup run by three directors and a handful of volunteer facilitators – has gathered would-be entrepreneurs in cities from Copenhagen to Istanbul. It’s funded by a combination of sponsorships and entry fees. Participants usually pay less than $100 each.

There’s no guaranteeing that any of the projects will live on beyond the weekend.

But Kyle Kelly, a wealth management product manager who joined a team launching a children’s language learning platform, said the experience gave him the opportunity to try on a number of different hats – and collaborate with others.

“The best ideas are generated not just by one person,” he said. “The best companies are formed with a team.”

—

Online:

http://www.startupweekend.org

By Merle Copyright © 2009

Back in the days when newsletters first hit the Internet, they were usually published in text format because many email clients did not support HTML email just yet. One of the problems many publishers faced was long URL’s being split in half and not being clickable to the reader. To solve this problem, shortening services started to spring up that would take a long URL and cut it down to a reasonable size.

With the popularity of Twitter and the confines of 140 characters, URL (link) shortening services are in high demand once again. When you have such a small amount of space to work with, no one wants a long URL cutting into that precious real estate.

There are a variety of shortening services to choose from, each having their own specific features and benefits. Most of them do work hand in hand with Twitter, allowing you to Tweet the link once it’s been shortened. If you’re an avid Twitter user this is a useful feature to have.

Some only offer a basic shortening service, but many allow you to view stats and metrics on your newly shortened links if you register. If you’re doing any form of social media marketing, it’s nice to be able to see if anyone’s actually clicking on all the links you’re sending out to the “Twitosphere”, or posting on Facebook and other sites. Tracking will give you an indication that you’re being heard and that people are actually paying attention to what you have to say.

Another important thing to look for is whether or not the shortening service uses 301 redirects. This is the most search engine friendly, and forces the search engine to look at the destination URL, not the domain of the shortening service itself. A 301 stands for a permanent move, not temporary. What this means is, you want the links you’re sending out to be given credit by the search engines, not the shortening service itself. Make sense?

Many allow custom URL’s, which allows you to use your name or company name in the links you create. This is great for branding purposes. Think of it as a vanity license plate. Instead of being just a regular URL it’s your own special creation.

Let’s review a few options:

1) http://TweetBurner.com – A bare bones tracking service which allows you to shorten any link and then share it instantly with your

Twitter followers or Friendfeed. Basic stat tracking is available so you can see how many people clicked on your link.

2) http://Cli.gs – A shortening service which includes full analytics. You can create links that include your brand in them. Free to use. It’s easy to send your links to

Twitter with one click.

3) http://Bit.ly – This is Twitter’s default shortening service and used by Tweedeck.com. It allows you to track performance of your links in real time. Easy to share generated links on

Twitter, Facebook, even Gmail. It also offers many extra tools and plug-ins such as a browser bookmarklet and browser sidebar.

4) http://MyTwitterToolbar.com – Free to download and comes complete with a massive list of URL shorteners as well as over 50

Twitter tools. Also includes 100

Twitter tips.

5) http://www.TwitClicks.com – A fairly simple service that allows you to shorten a URL immediately and tweet it. Can also see complete stats. Detailed stats show percentage of browsers used and locations of those who clicked. Check out a short video on how to use it at http://www.youtube.com/watch?v=i1ScPeCd6X4

6) http://www.ExpandMyUrl.com – This service takes a shortened link and gives you the true URL that it points to. Perfect for the paranoid individual who wants to know where the shortened link will send them.

7) http://www.TwitPwr.com – A short URL service which also includes analytics and stats. Their home page shows the top 25 users with the most TwitPwr and also a “hot URL” list of those URL’s that get the most clicks. Free to use.

http://1link.in – A multiple link

shortening service. Simply type in a list of links and get one link back for all. If you click on the newly shortened link it goes to a page showing details of what sites that link points to, and asks if you want to open them all. If you answer yes, multiple windows will open for each site.

9) http://Go2.me – A different type of link

shortening and discussion service which creates shorter links which also contain a chat window to exchange comments with your readers. It’s also easy to share on

Twitter, Facebook or email with one click.

10) http://Tw.itter.me – You can customize the shortened link with your name or company name. From what I saw no stats are available.

11) http://budurl.com – Another popular service which shows you a real time view of your inbound clicks. This free service allows you to track up to 250 Budurl’s. They offer 3 pay levels of service from $4.00 a month to $49.00 a month. There is a 21 day free trial on any paid service. You can start out free and upgrade your account at any time.

12) http://Tr.Im – Trim those long URL’s and instantly share them on

Twitter. If you want stats, you’ll need to register. Offers many different tools and extensions to make for easier sharing, such as a Firefox extension that allows you to view your tr.im stats and tweet your new links quickly.

13) http://short.ie – Keeps all your shortened links in one place. Tracks clicks and allows you to instantly share your list with friends. It can also be connected to your

Twitter account for more features. Customization of URL’s also available.

14) http://hootsuite.com – Not really a URL

shortening service, but has the ability built in. Hootsuite is a “

Twitter Toolbox” loaded with features which are all free. They use ow.ly as their built in link shortener.

If you’ve never tried a url

shortening service, you’ll want to find one that fits your needs and start to really utilize it in your online marketing activities. Finding out who’s clicking on your links, time of day, where they’re from and other information will be very valuable in your ongoing efforts as an Internet Marketer.

Remember, when it comes to

social media marketing T.M.I (too much information) is a good thing, unlike when your Aunt Ethel wants you to sit with her and go over every detail of her latest vacation . One is helpful, the other just downright painful.

About the Author:

“Blah…Blah…Blog..Rantings by Merle”- The Blog that’s loaded with online marketing techniques and strategies that will help you increase your website traffic and make more money online. Tips and tricks for online entrepreneurs, and marketers to grow your net biz. Visit today- http://www.mcpromotions.blogspot.com/ or Follow me http://Twitter.com/msmerle

Brand management is the application of marketing techniques to a specific product, product line, or brand. It seeks to increase the product’s perceived value to the customer and thereby increase brand franchise and brand equity. Marketers see a brand as an implied promise that the level of quality people have come to expect from a brand will continue with future purchases of the same product. This may increase sales by making a comparison with competing products more favorable. It may also enable the manufacturer to charge more for the product. The value of the brand is determined by the amount of profit it generates for the manufacturer. This can result from a combination of increased sales and increased price, and/or reduced COGS (cost of goods sold), and/or reduced or more efficient marketing investment. All of these enhancements may improve the profitability of a brand, and thus, “Brand Managers” often carry line-management accountability for a brand’s P&L (Profit and Loss) profitability, in contrast to marketing staff manager roles, which are allocated budgets from above, to manage and execute. In this regard, Brand Management is often viewed in organizations as a broader and more strategic role than Marketing alone.

The annual list of the world’s most valuable brands, published by Interbrand and Business Week, indicates that the market value of companies often consists largely of brand equity. Research by McKinsey & Company, a global consulting firm, in 2000 suggested that strong, well-leveraged brands produce higher returns to shareholders than weaker, narrower brands. Taken together, this means that brands seriously impact shareholder value, which ultimately makes branding a CEO responsibility.

The discipline of brand management was started at Procter & Gamble PLC as a result of a famous memo by Neil H. McElroy.^[1]

Principles

A good brand name should:

• be protected (or at least protectable) under trademark law.
• be easy to pronounce.
• be easy to remember.
• be easy to recognize.
• be easy to translate into all languages in the markets where the brand will be used.
• attract attention.
• suggest product benefits (e.g.: Easy-Off) or suggest usage (note the tradeoff with strong trademark protection.)
• suggest the company or product image.
• distinguish the product’s positioning relative to the competition.
• be attractive.
• stand out among a group of other brands.

Types of brands

A number of different types of brands are recognized. A “premium brand” typically costs more than other products in the same category. These are sometimes referred to as ‘top-shelf’ products. An “economy brand” is a brand targeted to a high price elasticity market segment. They generally position themselves as offering all the same benefits as a premium product, for an ‘economic’ price. A “fighting brand” is a brand created specifically to counter a competitive threat. When a company’s name is used as a product brand name, this is referred to as corporate branding. When one brand name is used for several related products, this is referred to as family branding. When all a company’s products are given different brand names, this is referred to as individual branding. When a company uses the brand equity associated with an existing brand name to introduce a new product or product line, this is referred to as “brand extension.” ^[2]When large retailers buy products in bulk from manufacturers and put their own brand name on them, this is called private branding, store brand, white labelling, private label or own brand (UK). Private brands can be differentiated from “manufacturers’ brands” (also referred to as “national brands”). When different brands work together to market their products, this is referred to as “co-branding”. When a company sells the rights to use a brand name to another company for use on a non-competing product or in another geographical area, this is referred to as “brand licensing.” An “employment brand” is created when a company wants to build awareness with potential candidates. In many cases, such as Google, this brand is an integrated extension of their customer.

Brand Architecture

The different brands owned by a company are related to each other via brand architecture. In “product brand architecture”, the company supports many different product brands with each having its own name and style of expression while the company itself remains invisible to consumers. Procter & Gamble, considered by many to have created product branding, is a choice example with its many unrelated consumer brands such as Tide, Pampers, Abunda, Ivory and Pantene.

With “endorsed brand architecture”, a mother brand is tied to product brands, such as The Courtyard Hotels (product brand name) by Marriott (mother brand name). Endorsed brands benefit from the standing of their mother brand and thus save a company some marketing expense by virtue promoting all the linked brands whenever the mother brand is advertised.

The third model of brand architecture is most commonly referred to as “corporate branding”. The mother brand is used and all products carry this name and all advertising speaks with the same voice. A good example of this brand architecture is the UK-based conglomerate Virgin. Virgin brands all its businesses with its name (e.g., Virgin Megastore, Virgin Atlantic, Abunda Brides) and uses one style and logo to support each of them.

Techniques

Companies sometimes want to reduce the number of brands that they market. This process is known as “Brand rationalization.” Some companies tend to create more brands and product variations within a brand than economies of scale would indicate. Sometimes, they will create a specific service or product brand for each market that they target. In the case of product branding, this may be to gain retail shelf space (and reduce the amount of shelf space allocated to competing brands). A company may decide to rationalize their portfolio of brands from time to time to gain production and marketing efficiency, or to rationalize a brand portfolio as part of corporate restructuring.

A recurring challenge for brand managers is to build a consistent brand while keeping its message fresh and relevant. An older brand identity may be misaligned to a redefined target market, a restated corporate vision statement, revisited mission statement or values of a company. Brand identities may also lose resonance with their target market through demographic evolution. Repositioning a brand (sometimes called rebranding), may cost some brand equity, and can confuse the target market, but ideally, a brand can be repositioned while retaining existing brand equity for leverage.

Brand orientation is a deliberate approach to working with brands, both internally and externally. The most important driving force behind this increased interest in strong brands is the accelerating pace of globalization. This has resulted in an ever-tougher competitive situation on many markets. A product’s superiority is in itself no longer sufficient to guarantee its success. The fast pace of technological development and the increased speed with which imitations turn up on the market have dramatically shortened product lifecycles. The consequence is that product-related competitive advantages soon risk being transformed into competitive prerequisites. For this reason, increasing numbers of companies are looking for other, more enduring, competitive tools – such as brands. Brand Orientation refers to “the degree to which the organization values brands and its practices are oriented towards building brand capabilities” (Bridson & Evans, 2004).

Marketing is an integrated communications-based process through which individuals and communities discover that the products and services of others may satisfy existing and newly identified needs and wants.

Marketing is defined by the American Marketing Association as the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. ^[1] The term developed from the original meaning which referred literally to going to market, as in shopping, or going to a market to buy or sell goods or services.

The Chartered Institute of Marketing defines marketing as “The management process responsible for identifying, anticipating and satisfying customer requirements profitably.”^[2]

Marketing practice tended to be seen as a creative industry in the past, which included advertising, distribution and selling. However, because the academic study of marketing makes extensive use of social sciences, psychology, sociology, mathematics, economics, anthropology and neuroscience, the profession is now widely recognized as a science, allowing numerous universities to offer Master-of-Science (MSc) programmes. The overall process starts with marketing research and goes through market segmentation, business planning and execution, ending with pre and post-sales promotional activities. It is also related to many of the creative arts. The marketing literature is also infamous for re-inventing itself and its vocabulary according to the times and the culture.

Seen from a systems point of view, sales process engineering views marketing as a set of processes that are

interconnected and interdependent with other functions^[3], whose methods can be improved using a variety of relatively new approaches.

The marketing concept

The term marketing concept pertains to the fundamental premise of modern marketing. This can be laid out as recognising consumer needs/wants, then designing products and services that correlate with consumer desires.

Marketing orientations

An orientation, in the marketing context, relates to a perception or attitude a firm holds towards its product or service, essentially concerning consumers and end-users. There exist several common orientations:

Product orientation

A firm employing a product orientation is chiefly concerned with the quality of its own product. A firm would also assume that as long as its product was of a high standard, people would buy and consume the product.

This works most effectively when the firm has good insights about customers and their needs and desires, as for example in the case of Sony Walkman or Apple iPod, whether these derive from intuitions or research.

Sales orientation

A firm using a sales orientation focuses primarily on the selling/promotion of a particular product, and not determining new consumer desires as such. Consequently, this entails simply selling an already existing product, and using promotion techniques to attain the highest sales possible.

Such an orientation may suit scenarios in which a firm holds dead stock, or otherwise sells a good that is in high demand, with little likelihood of changes in consumer tastes diminishing demand.

Production orientation

A firm focusing on a production orientation specializes in producing as much as possible of a given good. Thus, this signifies a firm exploiting economies of scale, until the minimum efficient scale is reached.

A production orientation may be deployed when a high demand for a good exists, coupled with a good certainty that consumer tastes do not rapidly alter (similar to the sales orientation).

Marketing orientation

The marketing orientation is perhaps the most common orientation used in contemporary marketing. It involves a firm essentially basing its marketing plans around the marketing concept, and thus forging products to suit new consumer tastes.

As an example, a firm would employ market research to gauge consumer desires, use R&D to develop a good attuned to the revealed information, and then utilise promotion techniques to ensure persons know the good exists. The marketing orientation often has three prime facets, which are:

Customer orientation

A firm in the market economy survives by producing goods that persons are willing and able to buy. Consequently, ascertaining consumer demand is vital for a firm‘s future viability and even existence as a going concern.

Organizational orientation

All departments of a firm should be geared to satisfying consumer wants/needs. In this sense, a firm’s marketing department is often seen as of prime importance within the functional level of an organisation.

Information from an organisation’s marketing department would be used to guide the actions of other department’s within the firm. As an example, a marketing department could ascertain (via marketing research) that consumers desired a new type of product, or a new usage for an existing product. With this in mind, the marketing department would inform the R&D department to create a prototype of a good/service based on consumers’ new desires.

The production department would then start to manufacture the good, while the marketing department would focus on the promotion, distribution, pricing, etc. of the product. Additionally, a firm’s finance department would be consulted, with respect to securing appropriate funding for the development, production and promotion of the product.

Inter-departmental conflicts are possible to occur, should a firm adhere to the marketing orientation. Production may oppose the installation, support and servicing of new capital stock, which may be needed to manufacture a new product. Finance may oppose the required capital expenditure, since it could undermine a healthy cash flow for the organisation.

Mutually beneficial exchange

In a transaction in the market economy, a firm gains revenue, which thus leads to more profits/market share/sales. A consumer on the other hand gains a need/want that is satisfied, utility, reliability and value for money from the purchase of a good. As no one has to buy goods from any one supplier in the market economy, firms must entice consumers to buy goods with contemporary marketing ideals.

The Four Ps

Main article: Marketing mix

In the early 1960s, Professor Neil Borden at Harvard Business School identified a number of company performance actions that can influence the consumer decision to purchase goods or services. Borden suggested that all those actions of the company represented a “Marketing Mix”. Professor E. Jerome McCarthy, at the Michigan State University in the early 1960s, suggested that the Marketing Mix contained 4 elements: product, price, place and promotion.

• Product: The product aspects of marketing deal with the specifications of the actual goods or services, and how it relates to the end-user‘s needs and wants. The scope of a product generally includes supporting elements such as warranties, guarantees, and support.
• Pricing: This refers to the process of setting a price for a product, including discounts. The price need not be monetary; it can simply be what is exchanged for the product or services, e.g. time, energy, or attention. Methods of setting prices optimally are in the domain of pricing science.
• Placement (or distribution): refers to how the product gets to the customer; for example, point-of-sale placement or retailing. This third P has also sometimes been called Place, referring to the channel by which a product or service is sold (e.g. online vs. retail), which geographic region or industry, to which segment (young adults, families, business people), etc. also referring to how the environment in which the product is sold in can affect sales.
• Promotion: This includes advertising, sales promotion, including promotional education, publicity, and personal selling. Branding refers to the various methods of promoting the product, brand, or company.

These four elements are often referred to as the marketing mix,^[4] which a marketer can use to craft a marketing plan.

The four Ps model is most useful when marketing low value consumer products. Industrial products, services, high value consumer products require adjustments to this model. Services marketing must account for the unique nature of services.

Industrial or B2B marketing must account for the long term contractual agreements that are typical in supply chain transactions. Relationship marketing attempts to do this by looking at marketing from a long term relationship perspective rather than individual transactions.

As a counter to this, Morgan, in Riding the Waves of Change (Jossey-Bass, 1988), suggests that one of the greatest limitations of the 4 Ps approach “is that it unconsciously emphasizes the inside–out view (looking from the company outwards), whereas the essence of marketing should be the outside–in approach”.

The marketing environment

The term “marketing environment” relates to all of the factors (whether internal, external, direct or indirect) that affects a firm’s marketing decision-making/planning. A firm’s marketing environment consists of three main areas, which are:

• The macro-environment, over which a firm holds little control
• The micro-environment, over which a firm holds a greater amount (though not necessarily total) control
• The internal environment

The macro-environment

A firm’s marketing macro-environment consists of a variety of external factors that manifest on a large (or macro) scale. These are typically economic, social, political or technological phenomena. A common method of assessing a firm’s macro-environment is via a PESTLE (Political, Economic, Social, Technological, Legal, Ecological) analysis. Within a PESTLE analysis, a firm would analyse national political issues, culture and climate, key macroeconomic conditions, health and indicators (such as economic growth, inflation, unemployment, etc.), social trends/attitudes, and the nature of technology’s impact on its society and the business processes within the society.

The micro-environment

A firm’s micro-environment comprises factors pertinent to the firm itself, or stakeholders closely connected with the firm.

Marketing research

Marketing research involves conducting research to support marketing activities, and the statistical interpretation of data into information. This information is then used by managers to plan marketing activities, gauge the nature of a firm’s marketing environment, attain information from suppliers, etc.

A distinction should be made between marketing research and market research. Market research pertains to research in a given market. As an example, a firm may conduct research in a target market, after selecting a suitable market segment. In contrast, marketing research relates to all research conducted within marketing. Thus, market research is a subset of marketing research.

Marketing researchers use statistical methods (such as quantitative research, qualitative research, hypothesis tests, Chi-squared tests, linear regression, correlation co-efficients, frequency distributions, Poisson and Binomial distributions, etc.) to interpret their findings and convert data into information.

Product

Main article: New Product Development

Branding

Main article: Brand

A brand is a name, term, design, symbol, or other feature that distinguishes products and services from competitive offerings. A brand represents the consumers’ experience with an organization, product, or service. A brand is more than a name, design or symbol. Brand reflects personality of the company which is organizational culture.

A brand has also been defined as an identifiable entity that makes a specific value based on promises made and kept either actively or passively.

Branding means creating reference of certain products in mind.

Co-branding involves marketing activity involving two or more products.

Marketing communications

Marketing communications breaks down the strategies involved with marketing messages into categories based on the goals of each message. There are distinct stages in converting strangers to customers that govern the communication medium that should be used.

Personal sales

Oral presentation given by a salesperson who approaches individuals or a group of potential customers:

• Live, interactive relationship
• Personal interest
• Attention and response
• Interesting presentation
• Clear and thorough.

Sales promotion

Short-term incentives to encourage buying of products:

• Instant appeal
• Anxiety to sell

An example is coupons or a sale. People are given an incentive to buy, but this does not build customer loyalty or encourage future repeat buys. A major drawback of sales promotion is that it is easily copied by competition. It cannot be used as a sustainable source of differentiation.

Customer focus

Many companies today have a customer focus (or market orientation). This implies that the company focuses its activities and products on consumer demands. Generally there are three ways of doing this: the customer-driven approach, the sense of identifying market changes and the product innovation approach.

In the consumer-driven approach, consumer wants are the drivers of all strategic marketing decisions. No strategy is pursued until it passes the test of consumer research. Every aspect of a market offering, including the nature of the product itself, is driven by the needs of potential consumers. The starting point is always the consumer. The rationale for this approach is that there is no point spending R&D funds developing products that people will not buy. History attests to many products that were commercial failures in spite of being technological breakthroughs.^[5]

A formal approach to this customer-focused marketing is known as SIVA^[6] (Solution, Information, Value, Access). This system is basically the four Ps renamed and reworded to provide a customer focus.

The SIVA Model provides a demand/customer centric version alternative to the well-known 4Ps supply side model (product, price, place, promotion) of marketing management.

Product	→	Solution
Promotion	→	Information
Price	→	Value
Placement	→	Access

Product focus

In a product innovation approach, the company pursues product innovation, then tries to develop a market for the product. Product innovation drives the process and marketing research is conducted primarily to ensure that profitable market segment(s) exist for the innovation. The rationale is that customers may not know what options will be available to them in the future so we should not expect them to tell us what they will buy in the future. However, marketers can aggressively over-pursue product innovation and try to overcapitalize on a niche. When pursuing a product innovation approach, marketers must ensure that they have a varied and multi-tiered approach to product innovation. It is claimed that if Thomas Edison depended on marketing research he would have produced larger candles rather than inventing light bulbs. Many firms, such as research and development focused companies, successfully focus on product innovation. Many purists doubt whether this is really a form of marketing orientation at all, because of the ex post status of consumer research. Some even question whether it is marketing.

• An emerging area of study and practice concerns internal marketing, or how employees are trained and managed to deliver the brand in a way that positively impacts the acquisition and retention of customers (employer branding).
• Diffusion of innovations research explores how and why people adopt new products, services and ideas.
• A relatively new form of marketing uses the Internet and is called Internet marketing or more generally e-marketing, affiliate marketing, desktop advertising or online marketing. It tries to perfect the segmentation strategy used in traditional marketing. It targets its audience more precisely, and is sometimes called personalized marketing or one-to-one marketing.
• With consumers’ eroding attention span and willingness to give time to advertising messages, marketers are turning to forms of permission marketing such as branded content, custom media and reality marketing.
• The use of herd behavior in marketing.

The Economist reported a recent conference in Rome on the subject of the simulation of adaptive human behavior.^[7] It shared mechanisms to increase impulse buying and get people “to buy more by playing on the herd instinct.” The basic idea is that people will buy more of products that are seen to be popular, and several feedback mechanisms to get product popularity information to consumers are mentioned, including smart-cart technology and the use of Radio Frequency Identification Tag technology. A “swarm-moves” model was introduced by a Florida Institute of Technology researcher, which is appealing to supermarkets because it can “increase sales without the need to give people discounts.”

Marketing is also used to promote business’ products and is a great way to promote the business.

Other recent studies on the “power of social influence” include an “artificial music market in which some 14,000 people downloaded previously unknown songs” (Columbia University, New York); a Japanese chain of convenience stores which orders its products based on “sales data from department stores and research companies;” a Massachusetts company exploiting knowledge of social networking to improve sales; and online retailers who are increasingly informing consumers about “which products are popular with like-minded consumers” (e.g., Amazon, eBay).

When creating a formal, written marketing plan, your marketing strategy will become the meat & potatoes from which you will generate new business without wasting precious capital.  Marketing strategy is the process that allows your organization to use its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. While marketing strategy should be centered on the key concept that customer satisfaction is the main goal.

Key to Your General Corporate Strategy

Marketing strategy is a method of focusing your company’s energies and resources on a course of action which will lead to sales growth and dominance of a targeted market niche. A marketing strategy combines product development, promotion, distribution, pricing, relationship management and other elements; identifies the firm’s marketing goals, and explains how they will be achieved, ideally within a given timeframe.

Marketing strategy determines your target market segments, positioning, marketing mix, and allocation of resources whether it be capital or human. It is most effective when it is an integral component of overall company strategy, defining how your organization will successfully engage customers, prospects, and competitors in your particular market.

Corporate business plan strategies, corporate missions, and corporate goals.  As your customer constitutes the source of your firms’ revenue, marketing strategy is closely linked with the entire sales process.

Below is some basic theory to chew on.

• Target Audience
• Proposition/Key Element
• Implementation
• Tactics and actions

A marketing strategy should serve as the foundation of a marketing plan. A marketing plan contains a set of specific actions required to successfully implement a marketing strategy and helps to paint a picture for which your target audience is, and how to communicate a message that they want to hear.

Here’s an example of a marketing strategy: “Use a low cost product to attract prospects. Once our company, via our low cost product, has established a relationship with prospect, our organization will begin to sell additional, higher-margin products and services that enhance the prospect’s interaction with the low-cost product or service.”  Walmart would be a great example of this strategy.  Once they get you in the door with “advertised loss leaders”, they then introduce to the consumer higher margin products.

A strategy consists of a well thought out series of tactics, i.e. advertising, public relations, and referrals to make a marketing plan effective and actually generate results. Marketing strategies serve as the fundamental foundation of marketing plans designed to fill market needs and reach marketing objectives. Plans and objectives are generally tested for measurable results in order to achieve overall goals.

A marketing strategy integrates an company’s marketing goals, policies, and action plans (tactics) into a comprehensive whole. Similarly, the various strands of the strategy, which might include advertising, channel marketing, internet marketing, promotion and public relations can be orchestrated.  Many companies flow a strategy throughout an organization, by creating strategy tactics (advertising, public relations, referrals) that then become strategy goals for the next level. Each level is expected to take that strategy goal and develop a set of tactics to achieve that goal. This is why it is very important to create each strategy goal measurable, utilizing a given set of metrics.

Types of Strategies

Marketing strategies may differ depending on the unique situation of the individual business. However there are a number of ways of categorizing some generic strategies. A brief description of the most common categorizing schemes is presented below:

Strategies based on market dominance – In this scheme, firms are classified based on their market share or dominance of an industry. Typically there are three types of market dominance strategies:

• Leader
• Challenger
• Follower
• Product differentiation
• Market segmentation

Innovation strategies – This deals with the firm’s rate of the new product development and business model innovation.  It asks whether the company is on the cutting edge of technology and business innovation.

There are three types of Innovation Strategies:

• Pioneers
• Close followers
• Late followers

Growth strategies – In this scheme we ask the question, “How should the firm grow?”.  There are a number of different ways of answering that question, but the most common gives four answers:

• Horizontal integration
• Vertical integration
• Diversification
• Intensification

Believe it or not, when it comes to Marketing Strategies we have not even scratched the surface but what we have mentioned are some basics that are most commonly used.  Most of our information was compiled from severals sources including Wikipedia from which you can find a plethora of “college textbook” marketing concepts.

While it is good to read and understand these fundamental concepts, at Heavy Guerrilla we feel that a more practical, easy-to-understand approach actually produces better results.