Basic Marketing – Part 2

Basic Marketing Graphic

Welcome to Part 2 of our introduction to Basic Marketing.

In Part 1 we discussed the meaning of marketing, the types of marketing and we introduced some elements of inbound marketing.

In this part we move on to outbound marketing.

>>Click here to go back to Part 1<<

Outbound Marketing

Outbound marketing is a strategy where businesses try to find customers through building and developing their brand awareness. It includes branding, advertising, promotion and publicity.

     Branding

Branding is the portrayed identity of your business, product or service. It includes the name, colour scheme, fonts, logos, tagline (slogan) etc.

Successful brands can be identified purely by a single one of these items.

For example, can you name these brands solely from their logo?

Brand Logos Graphic

>>ANSWERS<<

Now can you recognise the following brands from their tagline?

“Every Little Helps”
“It Does Exactly What It Says On The Tin”
“Because I’m Worth It”
“The Best A Man Can Get”
“Just Do It”
“They’re G-r-r-r-r-eat!”
“The Future’s Bright … The Future’s …….”
“Vorsprung Durch Technik”

>>ANSWERS<<

If you were able to get the majority of the brands correct then it goes to prove how important and rewarding branding can be.

     Advertising

Advertising is the process of bringing your product or service to the attention of your existing and prospective customer bases.

Most of you will be aware of the ‘Go Compare’, ‘We Buy Any Car’ and ‘Sheila’s Wheels’ adverts from the television. Love them or loathe them, they stick in your mind.

The most popular advert of the 20th Century, as voted by the public, was the ‘Smash’ mashed potato advert of the 1970’s. It featured Martians discussing the method that humans used to make mashed potato instead of using the ‘Smash’ product.

It can still be viewed on ‘You Tube’ >>HERE<<

If you aren’t old enough to remember this advert, ask your Mum, Dad or Grandparents, I am sure they will remember it.

     Promotion

The ongoing advertising and publicity of a product or service is known as promotion. Promotion keeps your product or service in the minds of your customer bases.

Some companies use techniques such as giving trading stamps, Clubcard points, frequent-flyer miles etc.

     Publicity

Publicity is getting your product or service mentioned in the media.

This is not always a good thing because, more often than not, you have no control over what is said or written.

Some people use the quote “There is no such thing as bad publicity …” but I am sure there are others who would totally disagree.

Read this for example:

The Ratner Group was a successful chain of jewellery shops in the 1980s. Their Chief Executive, Gerald Ratner, was delivering a speech to the Institute of Directors when he said

“We also do cut-glass sherry decanters complete with six glasses on a silver-plated tray that your butler can serve you drinks on, all for £4.95. People say, ‘How can you sell this for such a low price?’, I say, ‘because it’s total crap’.”

After the speech the Ratner share price plummeted and the company lost around £500 million and the company almost went out of business. Ratner was forced to resign just over a year later and the company changed its name to the ‘Signet Group’.

Bob Thomson is an IT professional with over 20 years experience in the industry having worked as a Consultant, Director, Manager and Trainer. He has vast experience using Microsoft software packages as an individual and in businesses situations.

He is also the Group Manager of the East Ayrshire Business Forum on LinkedIn.

Bob Thomson
Owner / Managing Director
Real Options

Basic Marketing – Part 1

Basic Marketing Graphic

Welcome to Part 1 of our little introduction to Basic Marketing. In this first segment we discuss the meaning of marketing, the types of marketing and we talk about some elements of inbound marketing.

In Part 2 we move on to outbound marketing.

>>Click here to go direct to Part 2<<

What is Marketing?

Marketing is the term given to the wide range of activities that ensure you are meeting the needs and expectations of your current and prospective customers.

Good marketing helps you identify who your customers are, the pricing of your product or service, the location of your business (if that is a factor) and the position of your product or service in the marketplace.

It is an essential business process and should be viewed as such, however it should give a return on your investment. The return doesn’t have to be financial but results of your marketing activities can and should be measurable.

Whatever activities and methods you apply, marketing must always be a planned activity.

Types of Marketing

There are two main types of marketing:

  • Inbound
  • Outbound

Inbound marketing includes market research, competitive analysis etc.

Outbound marketing includes branding, advertising, promotion and publicity.

Inbound Marketing

     Market research

Market research is the process of getting information about your prospective customers and/or the market you are targeting, analysing the information and making qualified business decisions based on the results.

You can use a variety of different techniques to do this:

  • Internet research
  • Face-to-face
  • Group meetings
  • Telephone research
  • Questionnaires
  • Etc.

     Competitive Analysis

This is the process of finding out who your competitors are, if you have any. If you do have competitors you need to answer certain questions. For example:

  • What products and/or services are they offering?
  • What are their strengths and weaknesses?
  • What will you offer that is different?
  • Is your solution sustainable?

By understanding who your competitors are and how they operate it will help you to identify how you can compete and, ultimately, overtake your opposition.

Identify what you do that is different, your Unique Selling Point (USP) and develop it to give you a competitive advantage.

>>Click here to go to Part 2<<

Bob Thomson is an IT professional with over 20 years experience in the industry having worked as a Consultant, Director, Manager and Trainer. He has vast experience using Microsoft software packages as an individual and in businesses situations.

He is also the Group Manager of the East Ayrshire Business Forum on LinkedIn.

Bob Thomson
Owner / Managing Director
Real Options