Marketing

Jack Derby,
Professor of the Practice, Tufts University

“Just What is Marketing?”

We have the basics right here!

 Overview…
Let’s set expectations…
• An introduction only of…
• “just what the heck is Marketing anyhow?”
• A Marketing Plan Structure
• A few marketing tools
#1. Market Research
#2. Funnels & Waterfall Math
Jack’s #3. SWOT
Marketing #4. Product Life Cycle
Toolbox
#4. Segmentation Grids
Red Business Toolbox © #6. Value Propositions
Global Futurizer, 2018

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 Be Careful… Jack’s Marketing
Toolbox

Red Business Toolbox ©

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Important Tips…

• When you’re knee deep in data…ask yourself…

• What are my objectives?

• What’s the timeline I have?
• Recalibrate if necessary
• Do not just plunge ahead !

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 Jack’s Marketing
Toolbox

Red Business Toolbox ©

Global Futurizer, 2018

Steps of Market Research

Stacked Folders and Books © Three Rivers Library System

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 Market Research- What Is It? Jack’s Marketing
Toolbox

What is it ? Red Business Toolbox ©

Global Futurizer, 2018

• An organized process to collect information about businesses

• It includes reviewing existing data
• It includes talking with prospects and customers about their
occupations, interests and buying habits as well as listening to
customer requests for products and services.

It…
• 1) identifies customer needs and wants
• 2) determines if the product/service meets customer needs
• 3) identifies potential target markets
• 4) determines the best tactics for each customer group.

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 Market Research-What Is It? Jack’s Marketing
Toolbox

What is it ? Red Business Toolbox ©

Global Futurizer, 2018

• An effective way to learn about potential

customers, their opinions, habits, trends and
future plans.

• Determine the geographic area of a business and

demographic characteristics of customers such
as age, gender, income and educational level.

• It may reveal unfilled needs, suggest marketing

strategies or identify the competition's strengths
and weaknesses.
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 Market Research-What Is It? Jack’s Marketing
Toolbox

What is it? Red Business Toolbox ©

Global Futurizer, 2018

• Market research involves asking questions,

recording information and taking time to learn from
the information.

• Market research develops an information base to

estimate sales, develop market strategy and
decide how to enter a market.

• One approach is to compare customer needs and

wants to competitors' weaknesses as well as to
customer demographics.
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 Market Research- Step #1 Jack’s Marketing
Toolbox

Two Types of Research… Red Business Toolbox ©

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1. Primary
– You start with a theory or concept
– Actually conducting rigorous scientific studies
– This is you “inventing” the data

2. Secondary
– This is Discovery of what already exists

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Step #1: Build a Basic Research Process Jack’s Marketing
Toolbox
Red Business Toolbox ©
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Discovery
2 Paths in Parallel

Existing Data Experiential

General Business Surveys

Industry Specific Focus Groups

Online or Offline
Company Specific
Instruments

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