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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What the Heck is Marketing?

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 According to the AMA…
The American Marketing Association (AMA) states…

“Marketing is delivering, and exchanging offerings

that have value for customers, clients, partners, and
society at large.“
“Marketing is the process of Planning and executing
the conception, Pricing, Promotion and Placement of
ideas, goods, and services to create exchanges that
satisfy individual and organizational objectives”

What do you think about this?

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 One Critically Important Word Here

The American Marketing Association (AMA) states…

“Marketing is 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.“

What’s the one critical word here?

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 Only One Critically Important Word Here

Value Letters © 2011-2018 ManagingAmericans.com, LLC

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 Delivering Value to the Customer

What would Company Value be?

…for companies?

• Increased revenue
• Higher margins
• Lower expenses
• Lower inventory
Value Letters © 2011-2018 ManagingAmericans.com, LLC
• Shorter sales cycles
• More qualified leads
• Higher employee retentions

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 Delivering Value to the Customer

What would Customer Value be?

…for companies?

• Increased revenue for them

• Higher margins for them
• Lower expenses for them
• Lower inventories for them
Value Letters © 2011-2018 ManagingAmericans.com, LLC
• Shorter sales cycles for them
• More qualified leads for them
• Higher employee retentions for them

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 Here’s a More Holistic Definition

“Marketing brings all assets & touchpoints of the

company’s products & services to bear in order
to differentiate and create motivating…
Value Letters © 2011-2018
ManagingAmericans.com, LLC

Customers

Investors Prospects

Suppliers Employees

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 Think: “Marketing is Everything!”

EPOC

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 The purpose of any company is to create

– All resource givers – customers,

prospects, employees, vendors
– have a choice (to contribute
or not to contribute value to
another organization).

– The task of Marketing is to differentiate and be more relevant

• To excite, to be desired, to be happy, to be successful.

• So, Marketing is…

– Defining, messaging & executing on delivering …

Value Letters © 2011-2018

ManagingAmericans.com, LLC

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 Just 3 Challenges…

#1 is a simple challenge…
Singing in the Shower ©IKYKE

Marketing is like Singing in the Shower

Everyone thinks they’re good at it

The other 2 challenges are much more complex

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 Challenge # 2: In any given day…

…the average consumer…

– …is exposed to 2,904 product messages

– …pays attention to 52

– …positively remembers 4 for less than 24 hours

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Derby Management Confidential, MIT 2018 © 15LLC
Wheel of Marketing © 60 Second Marketer and SIXTY,
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Wheel of Marketing © 60 Second Marketer and SIXTY,
 • 500 hours-You Tube
• 3.8 million searches
• 3.3 million Facebooks
• 1440 WordPress posts
• 3,600 Instagrams

"What happens online in 60 seconds?" © Smart Insights

(Marketing Intelligence) Ltd (CC BY-NC-ND 3.0.)

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 Basic Marketing Concepts
• #1 Marketing goal is to…
– Connect the organization to customers!
• EPOC=Every Point of Contact

• A Market is a collection of buyers & sellers

• Marketplaces and marketspaces are geos

• An Exchange must have 2 and each have value to one another

• A Product can be tangible goods, services, ideas, info, digital

products, people, places, experiences, financial, or organizations

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 Basic Marketing Business Concepts
• Strategic planning is defining the longer term business directions
and future initiatives of the organization

• Tactical planning is where we will focus. That’s about specific

market segments and developing marketing programs that
efficiently and effectively get customers to purchase something

• The Marketing Plan is the framework for how the tactics will be
assembled and executed
– Strategy of Markets, Product, Pricing, Placement & Promotions
– Personas, Geography, Research, Branding, Tactical
Campaigns, Timing, Competitors Costs, Budgets, & Forecasts,
– Control & Measurements

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Marketing Today is a Series of Timed Experiments
• Don’t Put All Your Eggs in One Basket.
– You will set yourself up for failure.
• Survey the Landscape.
– Take a look at what your competitors are doing.
• Launch a Balanced Program.
– Nobody has enough money, so don’t even try.
– Define and agree on a few specific strategies
– Pick appropriate tactics that tie into strategies
– Execute those tactics flawlessly.
• Test Your Way to Success.
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