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Cold Spring Harbor Laboratory, North Shore, Long Island ​hi you've been asked to do a marketing plan if we're a marketing project many of you in the course introduction to business so what I want you to do here today is to walk you through the first part of the marketing plan and talk about how you introduce your product or service in this type of a document so let's take a look at our agenda for today first we're going to talk about what should be in your project or your plan and the elements we're going to cover today is first a description of your features a description of your benefits and there is a difference your customer profile notice I didn't say target but profile and we'll talk about how that's different and how you gather this information together to discuss explain and sell your competitive advantage bottom line when you're doing a marketing plan what you're trying to do is explain to someone what you're selling why people should care and specifically why one particular profile of customer should care so let's get started what should be in your project basically what I just described but here is a list in detail the first thing that you want to do is describe your product or service in detail in this video I'm going to touch on the service and I'm going to go into a bit more detail about the product so that you can see some visuals which is a bit different or difficult to do for a service we're going to describe that product or service in terms of its features which is very different from its core benefits if you're interested in learning more about core benefits versus other types of benefits I will refer in the description of this video to other videos that you can that you can view to get that sense you want to identify your one customer now this does sound counterintuitive since you want to settle a lot of your product or service right but we're going to look at what focusing your message can do to really developing your point of difference and this should say differ and shame on me to clarify your point of difference what makes you different and then write it up in plan form so describe your service let's take an example an example that we used in my intro to business class recently is that of having a taxi alright so let's say you are an independent taxi owner so first of all what do you do and the way that my class describe it is I essentially people pay me to take them from point A to point B right I take you from one place to the next you pay me money all right who-who am I taking from one place to another someone who needs to go there right but I want to define it a little bit more than that what is my point A to point B do I hang out at the airport and take people to hotels do I hang out at hotels and take people to points of Attraction all right and when do I offer my services am I primarily during high tourist times do I work during conventions so it's important in your description of a service talk about start to define the area or your niche in your business how often am i on Monday through Friday kind of a service am i strictly on Saturdays and Sundays that will depend on some of the questions that I've answered previously and how does someone order my service do they only find out about me because they see me can they find me online but not just find me online but can they book my service online is that possible and in one of my marketing classes we are doing an online web component where web and ordering online will definitely be one of the channels that a customer can order my service and where are you located now it might not matter where your actual offices are located what people want to know is what is your base of operations okay and that means are you working primarily in the city are you a city to city kind of taxi driver are you taking people from the suburbs to the city and back are you working just in the suburbs so despite where your offices are located what people are looking for is well where are you where do you fit within what I understand of where I am all right so these are some features of describing a service all right now we'll look at product next as I know particularly in my introduction to business class we did and will go all in great detail about features around a service which is what their website is going to be about but I want to take an example of a product which is probably a more common example to walk through some of this with you online today so let's talk about product features all right product features talk about what the person is getting for their money all right we're going to use Campbell Soup at hand if you're describing this product you might first describe say it's from camels that becomes important you'll notice it can be heated in the container okay there's a lid that is spill proof it's contoured for the shape of your hand all right these are all great descriptions of the feature you might talk about the variety of flavors that are available you might talk about the nutrients I can spell you may talk about the nutrients you can certainly talk about the fact that Campbell's soup at hand supports schools you can talk about how the container fits into the cup holder in a car and you can talk about the fact that you can either buy it individually or you can buy it in packs of eight three six twelve whatever packs that you have all of these things that it's a microwavable container etc are all product features what am I getting for my money right that is not the same as benefits so here are some of the features this says insulated copy even though you can't read it this says contour to the

hand and this says you know a Sybil cap essentially these are these are the things you're getting for your money but that's not the benefit this is why the consumer cares and you notice I'm says I say years here this talks about more than just the physical exchange of money all right let's look at this woman its Sybil soup anytime anywhere so this ad is telling me the benefit of Campbell's soup at hand is that this in demand mom who loves her kids and kids playing soccer can take care of herself at the same time that she takes care of everything else because this consumer knows that on a daily basis she needs to be super mom right how many of us haven't felt that way super mom or super dad so the benefit of this product is you can take care of yourself and never slow down that is a very different conversation then red plastic molded microwavable cup all right these are the core values what the consumer cares about that the way they behave the way that they would choose one product or another because of what their heart is telling them and not just their pocketbook all right so these are benefits these are benefits all right so who is this customer who is this customer that would care about the benefits okay well I mentioned might be counterintuitive but often particularly entrepreneurs will say oh my gosh I can't leave anyone out 18 plus any adult will you actually diminish your chances to attract a customer that way because you can't talk to eighteen plus what message do you give them you need to know your customer if you're the taxi driver I want to know the person I pick up at the airport who goes flies in and out of New York one day at a time three or four times a year loves to listen to music on the way into the airport hates to listen to music on the way back because she's exhausted and yes that was me and that taxi driver got my business every time because he knew me as a customer all right my habits so let's think about this the first thing you do need to understand is the facts and you're trying to get to again your one customer all right so 18 plus 24 234 that's not one person okay you want to know where this person lives you want to know about how much money they make and you want to know what gender they are these are just some examples of demographics all right this is a good place to start but it's nowhere near where you need to end in your customer profile you also want to know what their preferences are as I mentioned in the taxi example right what do they read what do they eat what do they watch on TV what movies do they go to what do they do alright how does he or she behave do they want to fit in all right if you look at the iPhone commercials right now the iPhone 5 against the Samsung Galaxy they're portraying iPhone 5 users as kind of almost lemmings that are all trying to fit in and get the new iPhone but Samsung users are going a different way they're ahead of the curve and they don't care if people know that or not they just are right are you trying to get ahead in business do you value family are you an impulse shopper are you going through a life change for example are you did you just have children are your children leaving the house have you retired are you in the middle of your career these are all questions to ask about your customer as you put together a profile again if you're interested customer profile videos are coming and I will make sure to mention them in the video description so that you can learn more but let's use our example of this of this woman for a customer profile I'm going to name her Sally all right Sally and it's important to name your customer in your customer profile sally has school-aged kids right they play soccer all right I'm just going to choose soccer it's one of the more popular sports right now for kids my kids actually play the cross I'm in about the same age range as Sally I'm at about the same age or at least as far as you know about the same age as Sally and the life stage look at what she's juggling she is in demand and we're not talking about her career here we're not talking about corner office we're talking about office we're talking about splitting her time with the kids we're talking about soccer we're talking about her personal interests she is highly in demand and she needs the Sybil soup anytime anywhere because she is in one of the busiest stages of her life that's not expo busiest busiest stages of her life all right so Sally looking like soccer her clothes she is in a higher income bracket than average okay um she's wearing fall clothes so she's somewhere let's say she's in the Midwest all right where there's you know warm weather and soup all makes sense um she likes to read Good Housekeeping and she likes to read working mother magazine she watches Saturday Night Live when the kids go to bed and she has an iPhone now we're starting to put together a customer profile so this is the kind of information you're trying to gather and I will in that link include a worksheet that will help you think through some of the questions you could be asking yourself now let's gather some of this together into a competitive advantage all right now this is a typical definition of competitive advantage that I give my students it is not the technical definition but it's the essence and that is the competitive advantage is the reason someone would buy your product or service over the competitors on a regular basis all right so this is the reason why someone notice it says one not people someone would buy your product or service over the competitors on a regular basis or you might get someone to switch on a coupon but that's not what we're talking about here all right and the answer to your competitive advantage is a combination of features benefits and your customer profile not just who they are but your knowledge of them and of course you can't underplay brand you notice I'm using a red marker here because red is a key component of Campbell's soup brands when you see the red can you know it's Campbell's right and Campbell's come with a lot comes with a lot of notions of warmth right family tradition history but this new

product of theirs is also very modern all right it's on the go its convenience so you get all the brand of Campbell's with the reasons that Sallie would buy Campbell Soup at hand today and it's reinforced by what are called augmented values like caring for schools caring for kids so all this together the reason someone would buy Campbell's it's because it's Campbell's it's the soup you know in the flavors you love on the go so you never miss a beat that's the competitive advantage for Campbell's soup at hand and you want to try and distill down to that kind of a comment in your products all right so one way to really understand how to talk about your competitive advantage is to look at one or two close competitors all right what kind of products or services do they have that are similar and how do you position your products against it so there might be quick ways to get Progresso soup all right but how is soup at hand by and and blue is by the way progressives brand color how does Campbell's compare and specifically supid hand compared to Progreso all right and how would you convince a consumer to purchase your product or service over there so in this case over progressives I'm going to talk about the convenience and I'm going to talk about the features okay so I've done a lot of talking and scribbling and that's all wonderful as you're giving a presentation but in particular as you're writing a plan there is a structure that is associated with a plan and I will as I create the next video kind of link that structure into the description but just like any good piece of professional communication you want to start with an introduction right you want to tell people what your purpose is for this service or product you want to focus each paragraph on one idea at a time as you develop through your features benefits and customer and competitor competitive advantage right so each one might have multiple paragraphs which you really want to watch that transition and you want to end with a conclusion this is your final chance your call to action alright after reading your document what do you want the reader of that plan to do do you need money are you trying to create a website so is this going to help them develop that site are you trying to get someone to buy your product are you trying to get a grocery store to carry it so you want to really think through that conclusion in terms of a call for action and as always every opportunity to create a piece of professional communication is also an opportunity to create credibility or destroy it proofread your work have someone else look at it because it will set you apart it's one way to make sure your message gets through thank you for spending time with me I hope you enjoy the project Law Center, Central Islip.