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Defining
Objectives |
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The battle by
companies for market leadership never ends. Neither the
market laggards, trying to catch up, nor the leaders,
constantly challenged by new ascendants, can hope for
a cease-fire. Managers from both kinds of businesses lie
awake nights – or should lie awake – trying to answer
the same question: “How do we compete and win in our marketplace?”
Michael Treacy,
Fred Wiersema “The
Discipline of Market Leaders”
There
is marketing in theory and there is marketing in action. You are now familiar with various
theoretical pieces of the marketing puzzle: the qualities
of technical products, market segmentation, communications
strategy, and marketing tools.
But we have not yet discussed how to put this information
into action. Now
it’s time to take these pieces and mechanize them into
a marketing campaign.
Defining Objectives
Marketing campaigns are created for a variety of reasons
– not all are about the immediate goal of selling the
product. Some
are about improving corporate image or creating public
awareness, which ultimately help you sell more products
by building trust with your consumers. Some marketing campaigns are about unseating
your competition or attempting to convince consumers to
change from an existing technology to your technology.
Marketing campaigns can even be about “demarketing,”
a process some companies use to decrease demand when their
production capabilities are limited.
What are your campaign objectives?
How can they be measured?
While some results can be measured in quantitative
ways, such as sales volume or number of telephone inquiries,
others can only be measured in qualitative ways, such
as an improvement in corporate image, a greater sense
of leverage over suppliers, or positive reviews by industry
media sources.
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Campaign
Objective
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Qualitative Indicators
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Quantitative Metrics
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Increase product Sales
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Increase in market share
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§
Increased
bargaining power over suppliers and distributors
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Decreased
bargaining power of consumers (as demand rises,
so does price)
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§
Increased
sales volume and sales profits per market segment
§
Increased
# of suppliers, retailers, distributors or sales
agents
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Additional
sales in new market segments
§
Decreased
sales volume and sales profits for competitors
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§
Introduce new product
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Repositioning of an old product
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Attention
from government organizations or policy-makers
§
Attention
from academic organizations
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Attention
from lobbyists
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§
Increased
# of articles, stories, and reviews in trade and
industry media sources
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Increased
# of customer product inquiries: calls, e-mails
or letters expressing interest and having questions
§
Decreased
# sales for competitive products or technologies
as some consumers migrate to your product or technology
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Create public awareness about
your technology
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§
Attention
from government organizations or policy-makers
§
Attention
from academic organizations
§
Attention
from lobbyists
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§
Increased
# of customer inquiries
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Increased
# of customer feedback forms
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Increased
# of stories in the trade and industry media sources
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Penetrate a new market
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Attention
in media sources for horizontal industries – if
you are penetrating a new market, your product
may receive media attention from the industries
and trades that are indirectly associated with
that particular industry
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§
Increased
# of articles, stories, and reviews in the trade
and industry media sources of a new market segment
§
Increased
# of product inquires from new customers
§
Increased
sales volume and sales profits in the new market
segment
§
Increased
# of suppliers, retailers, distributors or sales
agents that operate in new market
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Destroy
competitive players
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§
Decreased
# of articles, stories, and reviews in trade and
industry media sources of competitive products
§
Increased
# of articles, stories, and reviews in trade and
industry media sources of negative content regarding
competitive products
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Decreased
sales volume and sales profits for competitors
§
Decrease
in price points for competitive products as an
attempt to increase sales while lowering profits
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Demarketing your product
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Possibility
of your product selling on a black market
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Your
product attains an image of greater exclusivity
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Interest
in the media sources of your industry, inquiring
about limited demand
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§
Achieve
a regulated or controlled # of sales for your
product – meet supply with your predetermined
# of demand output
§
Achieve
a decrease in # sales for your product
§
Increase
# of sales
for competitive products to fill the void in the
marketplace
§
Increase
# of sales in used sales or trade (i.e. E-bay)
for your product
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Possible
increase in # of customer inquiries about your
product and obtaining it
§
Possible
decrease in # of stories in industry media sources
as your product is forgotten
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